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December 2001

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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  1. December 2001

  2. Mission Create globally agreed harmonised market practices for the securities industry.

  3. 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.

  4. Alliances • FIX • GSTPA Ltd • ISITC-IOA • ISSA • Securities Industry Association (T+1-US) • ANNA • Others as appropriate

  5. 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

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

  7. Overview • July 1998: 14 countries • October 2001: 30 active + 10 in progress • Year End 2001: 39 countries targeted

  8. 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

  9. Work items • Settlement • Corporate actions • Reconciliation • TIC

  10. 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.

  11. 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

  12. Singapore Discussions Function of the message Place of Safekeeping Book Transfer Linkages Forex Cancellation MT578-586

  13. 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

  14. 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)

  15. 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

  16. 2001 - Other Initiatives • Cash Reconciliation (US) • Claims (UK,US) • Conformance (UK,US) • Foreign Exchange - spot & forward (SWIFT WG) • SMPG Glossary(SWIFT) • Registrations (CH, DE)

  17. Question ? didier.hermans@swift.com alexandre.kech@swift.com

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