NEW! Call for Proposals
The SWIFT Institute invites proposals for research on two very topical areas: virtual currencies and data usage. Two new Calls for Proposals are now available for download. The deadline for submissions for both is 20th August 2014. Full details are available within the Calls for Proposals below.
- Virtual Currencies: What are the “real” risks? – download
- The Use and Implications of Data in the Financial Industry – download
Current & Past Research Projects
|RMB Internationalisation||A study tracking the path of RMB internationalisation to determine whether a ‘tipping point’ is approaching, or has been reached.||
Jonathan Batten, Monash University
Peter Szilagyi, Judge Business School, University of Cambridge
|Finished - Working Paper|
|Financial Supply Chain Management||Mapping and analysis of SME value chains to identify and address structural and operational constraints limiting their performance and sustainability, with proposed enhancements to the financial supply chain.||
Dr. Asad Ata
Dr. Mahender Singh, MISI (Malaysia Institute for Supply Chain Innovation)
Finished – Working Paper
|Financial Inclusion||A study of mobile money services in Ghana to determine inhibitors to take-up, including price sensitivity.||
The Fletcher School, Tufts University
|Finished - Working Paper|
|Collateral Management||A study on collateral requirements for the OTC derivatives market stemming from new regulations.||Manmohan Singh, The International Monetary Fund (IMF)||Finished – Working Paper|
|Common Financial Language||A study investigating the potential economic, business and regulatory benefits from the development and use of common financial language in the execution and reporting of wholesale financial market transactions.||
Alistair Milne, Loughborough University School of Business
Malcolm Chisholm, AskGet Consulting
|Finished – Working Paper|
|Unit Cost of Financial Services||An empirical model allowing to estimate time-varying and cross-countries effects of the drivers of financial services costs; Title: Modelling the cost of financial services across countries using a Dynamic Hierarchical Bayes framework.||
Nicolas Glady and Ashwin Malshe, ESSEC Business School
|Network Liquidity Effects||A study to map and visualize the SWIFT interbank payment network and develops methods for identifying systemically important banks.||Kimmo Soramäki, Financial Network Analytics||September 2014|
|Interbank Lending Market||A study to define and estimate a structural dynamic stochastic network model of unsecured interbank lending with asymmetric information about counterparty risk and search frictions.||Francisco Blasques and Falk Bräuning, VU University Amsterdam and Iman van Lelyveld, De Nederlandsche Bank||Finished - Working Paper|
|Gender Diversity||A study that will offer a global perspective of women in finance through the first cross-country study on the topic of gender diversity on boards of financial firms.||Renée Adams, University of New South Wales and Tom Kirchmaier, Manchester Business School||October 2014|
|Impact of the Development of FMIs on Economic Growth in Developing Countries||A study that will address the impact of the development of financial market infrastructures on economic growth in developing countries by devising a theory of optimum financial areas, focusing on the Southern African Development Community (SADC) and the Association of South East Asian Nations (ASEAN).||Erik Jones, Paul H. Nitze School of Advanced International Studies and the Bologna Institute for Policy Research of the Johns Hopkins University||October 2014|
|Cybercrime||A study that aims to formulate a predictive cybercrime cost model for the financial industry.||Vincent Cheng Siong Lee, Clayton School of Information Technology, Monash University||November 2014|
|Regulatory Compliance – The Extraterritorial Challenge||A study that will ascertain the current state of play with respect to European and US cross-border regulation of derivatives, and attempt to determine if there is a consensus on how to advise companies when dealing with the possibility of extraterritorial application of law that may result in the imposition of inconsistent regulatory outcomes.||Stuart Weinstein, Coventry Law School||October 2014|
|Macroprudential Oversight, Risk Communication and Visualization||Macroprudential oversight is a recently popularized term for surveillance and supervision of the financial system as a whole (rather than individual institutions). The key aim is to provide a basis for the use of visualization techniques in macroprudential oversight in general and risk communication in particular.||Peter Sarlin, Goethe University Frankfurt & RiskLab Finland||Finished – Working Paper|
|Critical Examination of Four Currently Used Financial Data Collection Processes and Standards||This study will look at specific standards in utilization, assess them according to a set of key aspects, and provide empirical evidence on how each helps to solve data analysis problems.
1. FIXML for Trade Capture Reports for the U.S. CFTC
2. XBRL for portions of U.S. SEC corporate financial submissions (10-K / 10-Q)
3. Swap Data Repositories – U.S. CFTC/ DTCC + CME Group – + ICE
4. ISO 20022 used by various financial industries for data exchanges.
|Suzanne Morsfield, Columbia Business School and Steve Yang, Stevens Institute of Technology and Susan Yount, WebFillings LLC||December 2014|
|Analysis of Domestic / Cross-Border Clearing & Settlement Systems in Asian Countries||The research objective is three fold. First, to identify the conditions that facilitate / inhibit the diffusion of STP in Asia. Second, develop a full understanding of the development and challenges associated with the linkage for cross-border trade, clearing and settlement, with a particular interest on the recent launch of the ASEAN Exchanges. Third, produce practical recommendations in addressing the diffusion of STP for both domestic and cross-border linkage in Asian countries.||Carol Hsu, National Taiwan University and Sia Siew Kien, Nanyang Business School, Singapore||March 2015|
|Operational Risk in Investment Management Institutions||The research investigates whether investment behaviour is affected by the extent to which investment manager’s managing investment funds outsource part of their operations, and what impact this has on operational improvement versus risk.||
Douglas Cumming, York University Schulich School of Business
Armin Schwienbacher, University of Lille SKEMA School of Business
|The Role of Securitization in China’s Capital Market||The research looks at who will take the lead in shaping China’s securitization market model, and what impact this will have both in China and globally.||Ann Rutledge, Hong Kong University of Science and Technology||May 2015|
|Near Real-time Retail Payment and Settlement Systems Mechanism Design||Research will explore the ideal infrastructure, incentives and drivers for the development of a hybrid settlement system, which is proposed as a cost-effective means to settle payments.||Zhiling Guo, Robert Kauffman, Mei Lin and Dan Ma, Singapore Management University||March 2015|
|Cross-border Low Value Payments and Regional Integration||An assessment of how payment associations, banks and other stakeholders have approached regional integration and the best practices for doing so.||Dr. Leo Lipis, Independent Research Consultant||Q4 2014|
Who can apply for funding?
Academics and finance professionals may apply as individuals or teams. Applications will be considered from university research departments, academics and PhD students, industry professionals, central bank research departments, and others who can demonstrate a robust research proposal and solid track record.
What do I include in my application?
Proposals from prospective researchers must include a cover letter, CV, details of research experience, examples of published work, references, idea for research, methodology to be used, timeframe for completion, and expected output (e.g. working paper, presentation). Proposals should only be submitted in response to an issued Call for Proposal.
What will happen to my research?
The SWIFT Institute will publish the working paper on its website, and it may also be previewed in its quarterly newsletter or through social media. There may be opportunities to present research directly to the SWIFT community at Sibos – the annual industry conference hosted by SWIFT (www.sibos.com) – and at other dedicated events.