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Enhancing the Texas Standards for Electronic Transactions: Scope and Future Directions

This document outlines the scope and responsibilities of the Texas Standards for Electronic Transactions (TX SET) as it evolves to meet market needs. Key tasks include analyzing new transactions based on participant input, recommending protocol changes, managing TX SET documentation, designing and modifying electronic transactions, and resolving technical disputes. Additionally, we will explore potential expansions beyond current scopes and hold market meetings to foster consensus on improvements. Upcoming leadership nominations and discussions will ensure TX SET stays relevant and effective.

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Enhancing the Texas Standards for Electronic Transactions: Scope and Future Directions

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  1. RMS Update 1-14-04

  2. What is the scope of Texas SET? • Analyze the need for new transactions based upon market participants input • Recommend & Implement Protocol Changes • Control the publication and version management of TX SET documentation • Design electronic transaction(s) based on business requirement(s) provided by RMS • Enhance and modify existing transaction(s) based upon market need • Participate in the National Standards Effort • Provide educational material to the market on proper use of TX SET transactions • Resolve Technical Standards Disputes/Issues • Coordination and participate in various RMS Working Groups and Task Forces

  3. Has SET been achieving its Scope? • Yes • Is there something additional outside of TX SET’s current scope that as a workgroup TX SET can address? • Recommend & Implement changes to current business practices and business processes • Analyze market (posed or potential) issue(s) • Organize findings on the issue • Plan and hold market meetings • Discuss findings with the market • Develop market consensus • Formalize recommendation(s) to RMS • Institute change(s)

  4. Nominations for TX SET leadership will be taken upon TX SET Chair’s email request • Next Meeting: January 20th & 21st • TX SET Elections • Continued discussion on TX SET procedures and scope • Additional Action Items

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