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December 2001 PowerPoint PPT Presentation


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December 2001. Mission. Create globally agreed harmonised market practices for the securities industry. Process. Organize national market practice groups. Collate national market practice rules. Define cross-border market practice rules. Harmonise market practice differences.

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December 2001

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December 2001


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Mission

Create globally agreed harmonised market practices for the securities industry.


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Process

  • Organize national market practice groups.

  • Collate national market practice rules.

  • Define cross-border market practice rules.

  • Harmonise market practice differences.

  • Publish market practice rules.

  • Identify conformance mechanisms.


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Alliances

  • FIX

  • GSTPA Ltd

  • ISITC-IOA

  • ISSA

  • Securities Industry Association (T+1-US)

  • ANNA

  • Others as appropriate


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SMPG Structure

Steering Committee Chairman, Vice-Chairman, and 8 functional representatives

S.W.I.F.T.

National Market Practice Groups and Convenors

Broker/dealers, investment managers, custodians, depositories, regulators, and vendors


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Steering CommitteeDecember, 2001

  • ChairmanCatherine Dias (Citibank)

  • Vice ChairmanNiels Hougaard (VP - Denmark)

  • General SecretarySWIFT

  • Program DirectorAlexandre Kech (SWIFT)

  • Regional Directors

    • Asia/PacificShuta Okawara (Tokyo-Mitsubishi)

    • Asia/PacificHenry Ingrouille (Morgan Stanley)

    • EMEAAdriano Capellini (Unicredito Italiano)

    • EMEAOpen (to be elected)

    • AmericasGenevy Dimitrion (Deutsche Bank)

    • AmericasSandy Dinetz (DTCC)


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Overview

  • July 1998: 14 countries

  • October 2001: 30 active + 10 in progress

  • Year End 2001:39 countries targeted


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Countries - December 2001

  • Americas : BR, CA, US, *AR, *CL, *MX

  • EMEA : AT, BE, CH, DE, DK, ES, FI, FR, GR, IE, IL, IT, LU, NL, NO, PT, RU, SE, UK, TR, ZA, eurobond market, *PL, *SL

  • Asia-Pacific : AU, HK, JP, KR,SG, *MY, *CN, *IN, *TH, *TW

    * = in progress


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Work items

  • Settlement

  • Corporate actions

  • Reconciliation

  • TIC


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New Topics in 2001

  • Repos

    • Market representatives and SWIFT have defined the business process and also reflected the requirements on the MT540s.

    • Feedback from each market is required to further define common practices.

  • Securities Lending

    • US group have started defining the process with focus on crossborder trades. Feedback from each market is required to further define common practices

  • Funds

    • SWIFT and some markets produced documents and template for MT502,525,540s. Feedback from each market is required to further define common practices.


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2001 Meetings

  • March 21-23 - Boston

    • ISITC-IOA - March 18-20 - Boston

  • June 27-29 - Brussels

    • June 25-26 - Pan-Euro Conference - ISITC, FIX, SMPG

    • June 27-29 - SMPG meeting

  • October - SMPG/ISITC - Oct. 14-15 - Singapore

    • Sibos - October 15-18 - Singapore

  • Nov/Dec - Steering Committee - 2002 plan


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Singapore Discussions

Function of the message

Place of Safekeeping

Book Transfer

Linkages

Forex Cancellation

MT578-586


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Agreed MP Documents

  • Available on www.swift.com: (search - smpg)

    • Settlement Instructions Common Business Elements

      • MT540-543

    • MT535-536

      • Statement of Holdings, Statement of Transactions

    • MT548-537

      • Settlement Status and Processing Advice,Statement of Pending Transactions

    • Block Trades

    • Place of Settlement

      • When settling through multiple settlement system


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2001 - Project Plan

  • Trade Initiation & Confirmation

    • v4 Equities

    • v4 Fixed Income

  • Corporate Actions

    • v3 Mandatory events, Mandatory w/options, Voluntaries

    • v2 Claims

  • Reconciliation

    • v4 Pending Trades

    • v4 Advice/Status

  • Trade Settlement - complex transactions

    • v4 Repurchase agreements

    • v4 Mutual Funds Settlement

    • v4 Derivatives (exchange traded)


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2001 - Project Plan

  • Repos

    • v1 October 2001

  • Securities Lending (Global - ISITC, RMA, SIA-US, ES)

    • v1 October 2001

  • Mutual Funds (FIX - AU, Europe, UK, US, SWIFT)

    • v1 October 2001

  • Market Practice Implementation

    • v1 October 2001


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2001 - Other Initiatives

  • Cash Reconciliation (US)

  • Claims (UK,US)

  • Conformance (UK,US)

  • Foreign Exchange - spot & forward (SWIFT WG)

  • SMPG Glossary(SWIFT)

  • Registrations (CH, DE)


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Question ?

[email protected]

[email protected]


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