TOMATO CATCH-UP - Newsletter Issue 202 – July 2017
Your monthly resource on working capital, process optimization and issues relating to the world of corporate treasurers, IT professionals and bankers!
This newsletter is bilingual, English or German according to the source.
Introduction:
July and August: Time for vacations, taking it easy, creating distance from the daily grind with deadlines, seemingly unsurmountable challenges, all kinds of hassles and an overall loss of focus on what’s truly important in life. You have organized the “Urlaubsübergabe”, right? If not, check these tips from Computerworld.ch. We at Tomato wish you a relaxing summer!
Topics this month include SWIFT, EMIR, EU data legislation, bank relationships, cyber security, Blockchain news, etc.
Enjoy the variety of topics and remember, we at Tomato can look at your situation from an outsider perspective with experience from various similar situations. Run yours by us so we can help you in the decision-making process. Feel free to contact martin.schneider@tomato.ch or call 044 814 2001.
Regula Spottl and the Tomato Team
Topics
- Webinar: Corporate SWIFT Implementation
- REGIST-TR Switzerland’s Foreign Trade Repository: Solutions
- EMIR-Reform: The End of Reporting Mandate?
- EU Data Legislation Reform: Expected Changes
- FX Global Code of Conduct
- Sicherheit in der digitalen Welt
- How Will Blockchain Affect the Financial Industry and Treasury?
- Bank Relationship: When It’s Time to Move On
- Finanzkrise 2008: Kann eine derartige Katastrophe wieder geschehen?
- Finanzrepression: Kein Ende in Sicht
Webinar: Corporate SWIFT Implementation
SWIFT for Supply Chain and Payroll payments, Forex Messages, Letters of Credits and Guarantees? Watch the webinar to understand why we at Tomato have been implementing SWIFT for many more transaction types, not just for treasury payments. Put it in perspective: You wouldn’t use your Mercedes just to get croissants from your local bakery. Same with SWIFT! It’s optimally used as a central hub.
In the Bellin TV Webinar “A Game Plan for a Successful Treasury Match”, which aired on June 1, 2017, parties involved in the project discussed the successful implementation of their integrated SWIFT connection at Brückner, the benefits of the SWIFT connection and the strategy for a successful rollout.
Martin Schneider and Pietro Lunati joined the webinar and recommend watching especially from the 15th to the 23th minute. The experts illustrate with great visuals Brückner’s complex structure and the full integration of the transmission of payments, account statements, even letters of credit and guarantees into their treasury system. Webinar on Youtube…
By the way, if you enjoy soccer, you’ll like the presentation even more.
REGIST-TR Switzerland’s Foreign Trade Repository: Their Solutions
In April, FINMA officially recognized REGIS-TR as a foreign trade repository in Switzerland that can assist market participants in meeting their transaction reporting obligations under the Financial Market Infrastructure Act (FMIA).
Since the trade repository reporting obligation begins on October 1, 2017, you may be interested to learn more about REGIS-TR’s services and expertise.
Details: REGIS-TR’s RfI for FinfraG reporting services with a link to FinfraG Request for Information (RfI)
Auf Tomato’s webpage EMIR und FinfraG finden Sie eine typische Tomato-Kunden-Darstellung, in welchem Umfang ein Konzern von EMIR betroffen ist sowie eine Beschreibung der Pflichten für sogenannte NFC- (Non-Financial Counterparty Minus) und Ressourcen.
EMIR-Reform: The End of Reporting Mandate?
On May 4, the European Commission published its proposal to amend the European Market Infrastructure Regulation (EMIR). The Deutsche Aktieninstitut (an organization that represents the interests of publicly traded companies, banks, etc) closely followed the review process on EMIR from the perspective of Non-Financial companies (“NFC”) using derivatives in their risk management.
They conclude that the proposed improvements in the reporting regimes need clarifications on three points that are particularly critical for treasurers.
- Who will be exempt from reporting?
- Who will be liable for reporting in the future?
- What happens when companies conduct derivative transactions with banks outside the EU?
Ziehen Sie deutsch vor?
Der Treasurer: Emir-Reform: das Ende der Meldepflicht?
Details und Ressourcen zu EMIR und FinfraG...
EU Data Legislation Reform: Expected Changes
The European Union’s General Data Protection Regulation (GDPR) will go in effect in May 2018. The regulation will impose requirements on how “firms collect, store, process and protect the personal information of customers, clients and employees in response to the swift development of the digital economy,” explains Graham Buck, managing editor at GTNews.
The changes will include new, clear definitions of consent, consumer rights to delete, correct and transfer data as well as a “common data breach notification requirement”, says Buck. Details…
Ziehen Sie deutsch vor:
Computerworld.de: Datenschutz-Grundverordnung: Kontrolle über das Datenuniversum
On May 25, 2017, the Global Financial Markets Association (GFMA) published a global code of conduct for wholesale foreign exchange markets. The code “provides a set of guidelines to promote the integrity and effective functioning of the wholesale FX market.” Central banks and market participants from 16 jurisdictions around the globe participated in the development of the code.
Graham Buck, managing editor at GTNews, explains what the code entails and how it has been received. Details…
Download the FX Global Code May 2017
Sicherheit in der digitalen Welt
Das Thema an der Veranstaltung von AIM (aim ad interim management ag) vom 6. Juni in Aarau war Sicherheit in der digitalen Welt.
Prof. Dr. Hannes P. Lubich von der Fachhochschule Nordwestschweiz hat seine Präsentation in einem pdf zur Verfügung gestellt. Umfassend, mit guten Visuals und schlagkräftigen Tatsachen und Erklärungen! Sicherheit in der digitalen Welt von Prof. Dr. Lubich
Cyber Security in Zeiten der Digitalisierung war eines der Themen, das die Teilnehmer an den Brown Bag Lunches im letzten Monat sehr interessierte. Hier finden Sie genau die Info, die sie benötigen.
How Will Blockchain Affect the Financial Industry and Treasury?
News point to various initiatives involving Blockchain technology, which illustrates that Blockchain technology may revolutionize the financial industry.
For example, in the May edition of Treasury Today, three experts explain how the Blockchain technology works, the impact this may on the financial industry, and the areas of banks’ services for which the technology will provide opportunities.
One of our readers from Toronto pointed us to Barrons’ article “Beyond Bitcoin: How Blockchain Is Changing Banking. It suggests that even if Bitcoin falls apart, “its underlying technology ‘blockchain’ is likely to disrupt financial markets for years to come.” The article makes it easy to understand how Blockchain works:
It’s “a digital ledger that is kept and validated simultaneously by a network of computers, almost like a shared Excel document that no one person can change without the agreement of the others. Importantly, it allows deals to be made without the blessing of a ‘trusted intermediary,’ such as a clearinghouse.”
To access Barrons’ article requires a subscription. If you’d like details, contact Martin.Schneider@tomato.ch
Ziehen Sie deutsch for?
Der Artikel im Der Treasurer Das kann die Blockchain für Treasurer leisten, erklärt, dass Treasurer von erhöhter Effizienz, die Banken durch die Blockchain-Technologie erreichen werden, profitieren können.
Bank Relationship: When It’s Time to Move On
Various changes can lead to dissatisfaction with the cash management bank and impel a corporate to move on. Corporates evolve and so do their needs. In the article Bank relationships: It’s not you, it’s me, Eleanor Hill, a contributing writer to GTNews, explains how go about choosing a new banking partner. Details…
Bank relations is one of Tomato’s key expertise, considering Martin Schneider’s background including years of education and work at banks in Switzerland, America and Asia. Explore our presentation Optimized Bank Relations which offers graphics that are easy to grasp.
In Deutsch lesen Sie den Text Die Bank ein Lieferant von Andreas Carl und Martin Schneider.
Finanzkrise 2008: Kann eine derartige Katastrophe wieder geschehen?
Seit der Finanzkrise in 2008 sind grössere Schocks für die Banken ausgeblieben. Das ist eher Glück als selbstverständlich, denn die Banken werden die härteren Kapitalanforderungen erst 2019 ganz erfüllen, erklärt Tommaso Manzin.
Im seinem Artikel 10 Jahre Finanzkrise: Banken haben uns ihre Schulden überwälzt - haben wir daraus gelernt? in der Aargauerzeitung analysiert Manzin, wie es zur Krise kam und was nötig ist, solch eine Krise zu verhindern. Nebenartikel: “Die drei Basel: Die wichtigsten Regelwerke in der Bankenaufsicht”. Details…
Weitere Artikel zu diesem Thema…
Finanzrepression: kein Ende in Sicht
Man wird noch lange auf die Normalisierung der europäischen Geldpolitik warten müssen, erklärt Tobias Straumann in einem kurzen Bericht in der Finanz und Wirtschaft (FUW) untermalt mit zwei Grafiken Wieder 35 Jahre Finanzrepression?
Straumann weist auf die “lange Dauer der Finanzrepression anhand der Zinsentwicklung von 1945 bis 2010,” die von zwei Phasen geprägt war. In der ersten Phase stand der Schuldenabbau der aus dem Krieg ererbten Staatsschulden. Die zweite Phase war von der lockeren Geldpolitik und Staatsdefiziten der OECD-Staaten geprägt, weswegen die Schulden ab Mitte des Jahrzehnts wieder anstiegen. Details…
From the Desk of Regula Spottl, Greensboro, NC, USA
The number of billionaires has increased sharply in recent years. Many are using their charitable giving to influence the direction of various issues including education, the environment, science, etc. The numbers and issues they support is astounding. It fascinates me since we can’t rely on government to solve problems and society to prosper without financial support.
The Giving Pledge, initiated by Bill Gates and Warren Buffett who got “the group of the uber-wealthy to give away a majority of their wealth towards charity,” has had a huge impact as many jumped on board.
David Callahan, author of new book The Givers: Wealth, Power, and Philanthropy in a New Gilded Age, and founder and editor of the website Inside Philanthropy, recently talked about his book and the intentions of foundations and donors on the Wharton School’s SiriusXM broadcast. Article and link to podcast… (22 mins)