Capital Markets
The message side of every trade
Settlement volume arrives in bulk
Each securities trade becomes an instruction to a custodian or CSD, followed by status reports, confirmations and statements, often in large daily batches from each market. T2S already runs on ISO 20022, and the rest of securities messaging is expected to follow.
Liquidity moves across locations and clearings
Funding flows run between your own branches and the RTGS systems you settle in, each with its own ISO 20022 usage guidelines, from CHATS in Hong Kong to RITS in Australia.
FI payments are now ISO 20022
Under CBPR+, funding, cover and FX settlement payments travel as pacs.009, while many trading and settlement systems still produce MT202.
Back offices still speak MT
Settlement and payment systems were built on MT540 and MT202. Rebuilding them for every market's ISO 20022 variant is expensive, so the translation has to happen between them and the network.
Where the Hub stops and your back office takes over
Handled by the Messaging Hub
Handled by your trading and back-office systems
The Hub connects to these systems through its standard connectors, so each system keeps doing what it does best.
One hub for settlement and funding traffic
Settlement in the format each market expects
Your back office keeps sending MT540–MT543. The Hub translates instructions to sese.023 where the market requires ISO 20022, and translates statuses and confirmations back to MT.
ISO 20022 Migration →Funding payments valid for every clearing
MT202 goes out as pacs.009, including the COV and CLS variants, validated against CBPR+ and the usage guidelines of each RTGS system you reach.
Standards Compliance →One place for all markets traffic
Routing, archive, search, repair and four-eyes approval for every desk's messages, with data segregation so each team sees only its own traffic.
SWIFT Modernization →Settle and fund
| Flow | SWIFT MT | ISO 20022 | What the Hub does |
|---|---|---|---|
| Settle | |||
| Settlement instructions to custodians and CSDs | MT540 · MT541 · MT542 · MT543 | sese.023 | Translation and validation for each market, including T2S, and routing |
| Settlement status and confirmations | MT548 · MT544 · MT545 · MT546 · MT547 | sese.024 · sese.025 | Translated back for the back office and linked to the original instruction, which takes the reported status |
| Holdings and transaction statements | MT535 · MT536 · MT537 | semt.002 · semt.017 · semt.018 | Translation and routing to the back office |
| Fund | |||
| Funding, cover and FX settlement payments | MT202 · MT202 COV | pacs.009 · pacs.009 COV | Translation both ways, CBPR+ validation and routing |
| CLS-related payments | MT202 CLS | pacs.009 CLS | Translation from MT to ISO 20022 (one direction), CBPR+ validation and routing |
| Transfers between own locations and RTGS systems | MT202 | pacs.009 per clearing | Clearing-specific translation and validation for each RTGS system |
| Payment status and returns | MT199 · MT299 · MT202 returns | pacs.002 · pacs.004 | Linked to the original payment by UETR or reference |
| Nostro statements and advices | MT940 · MT950 · MT900 · MT910 | camt.053 · camt.054 | Translation and routing to the back office |
Running treasury confirmations too? FX, money market and derivatives confirmations are covered on the Treasury page. Supported clearings are in the clearing list; deadline dates are on the ISO 20022 migration timeline.
Products for capital markets
Messaging Hub
The operations platform for settlement and funding traffic, with the modules this business line relies on.
Prowide Integrator
For teams that build their own markets tooling: parsing, translation and validation of settlement and payment messages inside your application.