Question

Andy Peaks on March 4, 2023

Hello!

I have a question. There is a process:

A trader makes a deal on FOREX.
The transaction is uploaded to the BEC - OFFICE of the bank.
The bank and the counterparty send counter confirmations to each other. (SWIFT МТ300).
It is necessary to acknowledge counter messages MT300 in the BACK - OFFICE. If there are discrepancies, send a warning.

Can you please tell me what is the best way to describe it? Perhaps there are examples of similar processes.

Thank you.

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Best Reply

Caspar Jans on March 17, 2023

Hi Andy, interesting use case, but too many questions before modeling:

I know SWIFT is the communication protocol in banks (my first employer was a bank actually), but what is the MT300. Is that the message code or transaction code or a version of the SWIFT application?
Do the traders on both parties (bank and counterparty) upload the trade separately in to their respective back office applications, or just one and is this then replicated to the other party's back office application?

I would use an Enterprise BPMN Collaboration diagram, using two pools (BANK and Counterparty) and within each pool, 2 lanes (one for the back office and one for SWIFT). Then just model all the respective activities and messages flowing across the pools...

Hope this helps,

Caspar

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Caspar Jans on March 17, 2023

Best reply
Hi Andy, interesting use case, but too many questions before modeling:

I know SWIFT is the communication protocol in banks (my first employer was a bank actually), but what is the MT300. Is that the message code or transaction code or a version of the SWIFT application?

Do the traders on both parties (bank and counterparty) upload the trade separately in to their respective back office applications, or just one and is this then replicated to the other party's back office application?

I would use an Enterprise BPMN Collaboration diagram, using two pools (BANK and Counterparty) and within each pool, 2 lanes (one for the back office and one for SWIFT). Then just model all the respective activities and messages flowing across the pools...

Hope this helps,

Caspar
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