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Raising Ambitions Ambitions SWIFT Annual Report 2005 SWIFT Annual Report 2005 Raising Raising ambitions ambitions Supporting industry transformation page 10 Serving you to serve your customers page 14 Extending resilient communication page 18 www.swift.com www.swift .com SWIFT Annual Report 2005 SWIFT business partners SWIFT business partners Global business partners/Software remarketers Andean region Central America and Mexico North America North America Southern Latin America BCG – Business Computer Group BCG PANAMA S.I.D.E. America Corp. S.I.D.E. America Corp. Financeware Comercio e Avenida Francisco de Miranda Marbella, World Trade Center 450 Seventh Avenue, Suite 1509 445 S Figueroa Street, Suite 2700 Servicos Ltda Torre Provincial 6th Floor, Oficina 605 New York, NY 10123 Los Angeles, CA 90071 Rua Paraiso 139, Cj. 132 Torre B, Piso 14, Oficina 141 PO Box 0832-0702 United States United States 04103-000 – São Paulo Chacao, Caracas Panama City Tel: + 1 212 631 0666 Tel: +1 213 612 7799 SP – Brazil Inside Venezuela Panama Fax: + 1 212 631 0170 Fax: +1 213 612 7797 Tel: +55 11 3262 2095 Tel: +58 212 267 2121 Tel: +507 264 0998 www.sideamerica.lu www.side.lu Fax: +55 11 3251 1926 Fax: +58 212 264 7736 Fax: +507 264 2341 www.financeware.com.br www.bcg.com.ve www.bcg.com.ve 1 Our mission and key figures Management Indian Subcontinent Japan Japan Oceania – South Pacific Scandent Solutions Corporation Getronics Japan Ltd. Sumisho Computer Systems Co. Decillion Solutions (Australia) Pty Ltd. 2 2005 milestones 30 Executive Steering Group 801 Madhava Building Shuwa Shiba Koen 3-Chome 11th Floor, NKK Building Suite 403 Bandra Kurla Complex Building 1–2 Marunouchi 1-Chome 161 Walker Street 4 From the Chairman Bandra (E) 3-1-38, Shiba Koen, Minato-Ku Chiyoda-Ku, Tokyo 100-8202 North Sydney, NSW 2060 6 From the CEO Financial review Mumbai – 400 051 Tokyo 105-0011 Japan Australia India Japan Tel: +81 3 5219 0865 Tel: + 61 2 9929 0655 32 Financial performance Tel: +91 22 2659 4951 Tel: +81 3 5403 1006 Fax: +81 3 5219 0876 Fax: + 61 2 9929 0799 Fax: +91 22 2659 4952 Fax: +81 3 5403 1013 www.scs.co.jp www.decillion.com.au Business review Key financials www.scandentsolutions.com jp.getronics.com/swift 10 Supporting industry transformation 33 Financial and security South Korea Taiwan People’s Republic of China South East Asia Comas Inc. Ares International Corp. 14 Serving you to serve your customers audit statements NCSI (Shanghai) Co., Ltd Decillion Solutions Pte Ltd. 7-9F, Geobong Building 942-16 3rd Floor 111, Sec. 2, 697-08, Block 2 39 Robinson Road Daechi3-Dong, Gangnam-Gu ZhongShan N. Road 18 Extending resilient communication 34 Consolidated statement of income 351 Guo Shou Jing Road #16-03 Robinson Point Seoul Taipei Zhangjiang Hi-Tech Zone Singapore 068911 Korea (135-845) Taiwan 104 35 Consolidated balance sheet Shanghai Tel: +65 6538 1661 Tel: +82 2 3218 6300 Tel: +886 2 2522 1351 Facts & figures 36 Consolidated statement P.R. China 201203 Fax: +65 6538 1771 Fax: +82 2 518 1969 Fax: +886 2 2560 1735 Tel: +86 21 3222 4533 ext. 8907 www.decillion.com.sg www.comas.co.kr www.ares.com.tw 22 SWIFTNet messaging services of cash flows Fax: +86 21 3222 1092 Members, users and SWIFTNet FIN 37 Consolidated statement of www.ncs.com.cn traffic by country or territory changes in shareholders’ equity 38 Notes to the consolidated Balkan countries Benelux and France British Isles, Ireland and CIS countries IBM International Business Oversight and governance financial statements CiS d.o.o. S.I.D.E. Benelux & France S.A. Channel Islands Alliance Factors Ltd. Machines Corporation Bulevar Oslobodjenja 88 200 Rue du Cerf SMA Software + Consulting Ltd. 6 Shubinsky Pereulok IBM Belgium 24 Governing the cooperative 55 Calendar of SWIFT events and 21000 Novi Sad 1330 Rixensart Bramah House Moscow 121099 BLS 2A1, Avenue du Bourget 42 Serbia and Montenegro Belgium 65–71 Bermondsey Street Russian Federation 1130 Bruxelles 26 Oversight of SWIFT shareholder information Tel: +381 21 4725 380 Tel: + 32 2 656 0060 London SE1 3XF Tel: +7 495 967 1491 Belgium Fax: +381 21 4725 288 Fax: + 32 2 656 0070 United Kingdom Fax: +7 495 241 4650 Tel: +32 2 655 5423 28 Board of Directors 56 SWIFT business offices www.cis.co.yu www.side.lu Tel: +44 20 7940 4200 www.swift.ru Fax: +32 2 655 5423 and SWIFT business partners Fax: +44 20 7940 4201 www.ibm.com Italy Middle East and Gulf region www.sma.co.uk Nigeria N.C.H. S.p.A. – Network Eastern Networks Softworks Ltd. LogicaCMG Computer House Dubai Internet City Middle East and North Africa Plot 242 Kofo Abayomi Street Stephenson House Strada Maggiore 51 Building 2, # G02 Allied Engineering Group S.A.R.L. Victoria Island 75 Hampstead Road 40125 Bologna PO Box 500135 Assaf Center, 8th Floor Lagos London NW1 2PL Italy Dubai Verdun, Beirut Nigeria United Kingdom Tel: +39 051 286 8511 United Arab Emirates Lebanon Tel: + 234 1 261 1729 ext. 1142 Tel: +44 20 7446 1462 Fax: +39 051 345 056 Tel: +971 4 391 2880 Tel: +961 1 791 002 Fax: + 234 1 261 9945 Fax: +44 20 7674 1777 www.nchspa.com Fax: +971 4 391 8652 Fax: +961 1 791 003 www.telnetng.com www.logicacmg.com www.eastnets.com www.aeg-mea.com Southern Africa Perago Africa (Pty) Ltd. West and Central Africa Building II (B Block) Allied Engineering Group S.A.R.L. 101 Central Street El Mohandiseen – Giza Houghton 2194 Gauteng Lebanon Square – Al-Gihad Street 6 South Africa Cairo Tel: +27 11 483 4500 Egypt Fax: +27 11 483 4507 Tel: +202 305 5697 www.perago.com Fax: +202 305 5697 www.aeg-mea.com Produced by SWIFT Corporate Communications Copyright © S.W.I.F.T. SCRL ('SWIFT') 2006 Designed by williams and phoa, London All rights reserved. Reproduction is authorised with acknowledgement of the source, reference Printed in Belgium by Emico and date of publication, and all notices set out here. This publication is supplied for information purposes only. SWIFT, S.W.I.F.T., the SWIFT logo, Sibos, SWIFTNet, SWIFTAlliance, SWIFTStandards, SWIFTReady and Accord are trademarks of S.W.I.F.T. SCRL. Other SWIFT-derived product and service names, such as, but not limited to, SWIFTSolutions and SWIFTSupport, are trade names of S.W.I.F.T. SCRL. SWIFT is the trading name of S.W.I.F.T. SCRL. SWIFT Annual Report 2005 1 Our mission To be the global financial community’s foremost messaging infrastructure that is lowest risk and highest resilience. Our business SWIFT is the industry-owned cooperative supplying secure, standardised messaging services and interface software to over 7,800 financial institutions in 204 countries and territories.The SWIFT community includes banks, broker/dealers and investment managers and their market infrastructures in payments, securities, treasury and trade. Key figures SWIFT delivered a strong performance in 2005 — FIN traffic increased 9.5 percent to 2.5 billion messages — 10 million messages a day on average — 7,863 institutions connected in 204 countries at year-end — FIN securities traffic peak of 4 million messages on 1 December — FIN traffic peak of 11.5 million messages on 20 December — 8 percent price reduction for FIN message usage worth EUR 14 million in the second half of 2005 — 7 percent customer rebate worth EUR 23 million 2 SWIFT Annual Report 2005 2005 milestones 2005 A look back on the milestones of 2005 SWIFT Annual Report 2005 2005 milestones SWIFT focuses industry attention on Giovannini Barrier One The European Commission’s Giovannini Group mandated SWIFT to address ‘Barrier One’. The Group identified national differences in information technology and interfaces in EU securities clearing and settlement as obstacles to efficient cross-border settlement. In January 2005, SWIFT published an industry consultation paper, and a draft protocol followed in October. SWIFT will release the final protocol at the end of March 2006. Read more on www.swift.com TARGET2 chooses SWIFTNet SWIFT Prize for using technology to bring Several hundred European bankers attended communities together a series of SWIFT road shows to prepare The SWIFT Prize recognises organisations which use their systems for TARGET2, which goes communication and information technologies to strengthen links live in January 2007. SWIFT is providing the between people and improve quality of life. Under the auspices of messaging platform for the new Real Time Belgium’s King Baudouin Foundation, SWIFT awards EUR 50,000 Gross Settlement system of the euro. to a worthy project in Belgium or the Netherlands. Baron Lamfalussy chairs the Board for the SWIFT Prize. In 2005, the prize was awarded Read more on www.swift.com to Belgian non-profit organisation ALS Liga, which helps patients with the fatal nerve and muscle complaint, Amyotrophic Lateral Sclerosis (ALS), also known as Lou Gehrig’s disease. Previous prizes have gone to projects which include helping the visually or mentally impaired; encouraging micro-finance in developing countries; supporting chronically ill children; providing hearing rehabilitation; training the unemployed Regional conferences and giving greater independence to handicapped persons. coming to a city near you Read more on www.swift.com During 2005, SWIFT hosted regional conferences and business events on all continents, maintaining a constant dialogue with its worldwide community. Cities visited included Antwerp, Athens, Accra, Brussels, Dubai, Kuala Lumpur, Melbourne, Milan, New York, Sao Paulo and Zagreb. These events brought customers together to discuss usage of SWIFT, exchange information and network. Read more on www.swift.com SWIFT Annual Report 2005 2005 milestones SWIFT cuts prices by 8 percent and announces pricing initiatives SWIFT announced important pricing initiatives that will benefit users for years to come: an overall 8 percent price reduction on FIN messages, a new traffic growth incentive programme which introduces additional price reductions for users committing to increase their traffic, a one-time waiver of licence fees for the SWIFTAlliance Starter Set and the launch of the Member/Concentrator model, which simplifies access and reduces the cost of ownership for smaller institutions.
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