Transcript No Slide Title

December 2001
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 Committee
December, 2001
• Chairman
Catherine Dias (Citibank)
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Niels Hougaard (VP - Denmark)
SWIFT
Alexandre Kech (SWIFT)
Vice Chairman
General Secretary
Program Director
Regional Directors
– Asia/Pacific
– Asia/Pacific
– EMEA
– EMEA
– Americas
– Americas
Shuta Okawara (Tokyo-Mitsubishi)
Henry Ingrouille (Morgan Stanley)
Adriano Capellini (Unicredito Italiano)
Open (to be elected)
Genevy Dimitrion (Deutsche Bank)
Sandy 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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