SMPG celebrates 20th anniversary and welcomes Slovenia as new member
The Securities Market Practice Group (SMPG) celebrated its 20Th anniversary at its Warsaw general meeting. In 1998 the SMPG was created out of the request and need to define the usage of the at the time new securities messages suite of ISO 15022. At the time automation in the securities world was largely based on the ISO 7775 Standard as used on the SWIFT Network. Migrating to the new standard ISO 15022 offered so many possibilities to send valuable transaction information that some best practice was required. The question "what is needed when" was driving the securities business all over the world and that was the hour when some wise women and men took the initiative to create the Securities Market Practice Group. Since then SMPG focuses on defining market practices for the securities industry based on existing ISO messages for Trade Initiation/Confirmation, Settlements, Reconciliation, Corporate Actions and Investment Funds.
Dozens of Market Practices were drafted, discussed, approved, updated and sometimes even deleted during the past twenty years. Moreover, not only Market Practices were created and deleted, working groups as well. SMPG started with Trade Initiation (TIC), Settlement & Reconciliation (S&R) and Corporate Actions (CA) working groups (WG). TIC finished its work but an Investment Funds WG was forme in 2003. Other sub groups were founded and later on became dormant like the Collateral Group or the Proxy Voting (PV) group.
SMPG welcomes as new member the Slovenia NMPG which is active since 2012 publishing S&R, CA and PV market practices.
Following regular elections the SMPG Steering Committee is now composed as follows:
Armin Borries, Chair, (elected for the 2018-2019 term),
Rudolf Siebel, Vice Chair,
Jason Brasile, Americas Regional Director, (re-elected for the 2018-2019 term),
Paul Fullam, Americas Regional Director,
Jyi-Chen Chueh, APAC Regional Director,
Hiroaki Okumura, APAC (Japanese) Regional Director, (re-elected for the 2018-2019 term)
Paola Deantoni, EMEA Regional Director (re-elected for the 2018-2019 term).
SMPG is extremely grateful to outgoing chair Karla Mc Kenna for her contribution to the organization, including leading the SMPG as chair through volatile times for many years.
The SMPG meeting was hosted and sponsored by KDPW, the central securities depository of Poland.
The meeting was attended by about 60 securities experts representing close to 25 markets from Africa, Asia-Pacific, Europe and the Americas.
Information for the Press:
Background on SMPG:
The Securities Market Practice Group was established in July 1998 with a focus on defining market practices for the securities industry based on existing ISO messages for Trade Initiation/Confirmation, Settlements, Reconciliation and Corporate Actions. SMPG’s goal is to provide the community of ISO 15022 and ISO 20022 securities message users with a global market practice on the usage of these messages. SMPG has produced over 30 market practice recommendations using ISO 15022 messages. SMPG has since expanded to define market?practices for the Investment Funds industry using the ISO 20022 messages. All market practices are available on www.smpg.info.
SMPG is open to all securities players – through participation in a National MarketPractice Group (NMPG) – interested in creating globally-agreed market practices for the securities industry. NMPGs are established in about 40 countries. SMPG is a non-funded industry group that only functions thanks to the dedication and assistance of the local experts active in the NMPGs.
General Secretary: Jacques Littré
Tel: + 32 2 655 4335
Fax: + 32 2 655 4552