2. SMPG - History SMPG was founded in 1998
With implementation of ISO for securities, need to use the new standard in a harmonised way
SMPG aims at documenting and harmonising global and local market practices around the use of international standards to achieve higher STP
From 16 to 40 countries

3. Standards and market practice
1980
1990
2000
2010
2020
ISO 7775 (securities)
ISO (securities) ?
ISO (financial industry) 
SMPG (securities) 
Investment Funds Working Group 
PMPG (payments)

4. SMPG role Facilitate global harmonisation of market practices
implementation of ISO messaging in the securities space
Bring together representatives of national market practice groups
approx. 40 countries, plus ICSDs (Clearstream and Euroclear)
two physical meetings plus conference calls
delegates represent their market, not their own institution
Identify commonalities and differences among national practices
Harmonise and document global and local market practices
Identify opportunities for further harmonisation

5. SMPG organisation GLOBAL STEERING COMMITTEE Trade/ Post Trade
Settlement & Reconciliation
Corporate Actions
Investment Funds
(dormant)
S&R CA IF
S&R CA IF
S&R CA IF
NATIONAL MARKET PRACTICE GROUPS
Settlement & Reconciliation/Corporate Actions ISO 15022/ISO Multi-asset class Process-specific
Investment funds ISO only
Funds only Cross-functional

6. NMPG role Open to all securities market participants
IMIs, broker / dealers, custodian banks, central securities depositories, regulators…
Discuss and agree on local harmonised market practices (in line with global practices)
Comment on or propose SMPG global market practice working documents
Send representation to the 2 global SMPG meetings

7. IFWG scope and participation
Terms of reference
ISO only
"Traditional" funds and operating models
not hedge funds (specific complexities)
not exchange-traded funds (trade/settle alongside equities)
Cross-functional
trading, settlement, corporation actions etc.
starting/ending with Transfer Agent
Discussion and liaison with other groups engaged in fund processing standardization
Efama FPSG, US ICI IOAC, Lux. Findel groups
Active participants
Countries: BR, CH, DE, DK, ES, FR, GB, IE, IT, LU, NL, NO, SE
ICSDs: Clearstream, Euroclear

8. IFWG activity
Global Market Practice Orders & Settlement (Sept 2011 final)
Transfers
message mappings drafted, awaiting further input
consolidated process document to be re-drafted and split: (a) portfolio level (b) stock level – TA markets (c) stock level – CSD markets
Account management
process document/message mappings under review
Statements
work with joint S&RWG
Corporate actions
exploratory discussion with CAWG

9. CAWG in figures
27 member countries (NMPGs) from 3 regions (EMEA, Americas, Japan/Asia)
2 industry groups (ICSDs, MDPUG: Market Data Provider User Group)
Monthly conference calls
2 physical meetings / year
19 active countries contributing to creation of MPs
17 local MP documents published on web sites
WG active since 2000
About 270 open items discussed/solved since 2006

10. CAWG achievements Global MPs documents cover:
60+ corporate action events & 5 ISO MT messages
All CA business processes / Events flows
Detailed MPs on:
Messages contents (MT 56x) and fields usage
Particular Events (e.g. Rights issues)
Special processes (Preliminary Advice, Market Claims, Proxy Voting basics)
"Event Interpretation Grid +" Table
Recommended main options and data fields provided for 132 types of events (as SMPG Global MPs) and also for 23 countries (as local MPs)
Additional Events Interpretation tables for:
Complex events, Redemption events and Return of Capital events
CA Templates document: 67 events message samples fully illustrated
COAF (Official CA Events reference) Usage Guidelines and Registration
Yearly CRs submission to ISO15022 maintenance
Involved in ISO CA Reverse Engineering effort

11. CAWG ongoing and future developments
3 new CA market practices subgroups on:
Tax: clarify tax rates usages and related issues)
ISO CA: make the CA MPs ISO15022 syntax-independent and covers specificities of ISO20022 messages
Proxy Voting: covers ISO proxy voting messages
Posting CA MPs on MyStandards Web-based collaborative platform
Capture Investment Funds requirements for CA (in collaboration with the SMPG IF WG)

12. SRWG achievements Global Market Practices:
26 global market practices published including: Common Element listing of values for Settlement, Statement of Holdings and Transactions, Block Trades
See for more information
Local Market Practices for 35 Countries:
Specify specifics for the plain vanilla settlement instruction per country
Settlement Instruction Summary sheet
Regional Groups: ESES (Euroclear Settlement of Euronext-zone Securities),
Nordics (Denmark, Finland, Iceland, Norway and Sweden), South America

13. SRWG ongoing and future developments
Reviewing MPs
Financial Instrument Identification
Securities Settlement Transaction Pending Report
Basic Securities Lending/Borrowing
Book Transfer/Portfolio Transfer Customer to Customer Communication
Repo
Stamp duty
2013 CR reviews

14. SRWG ongoing and future developments
New Subjects
Securities Financing: Process Redesign related to ISO20022
Post Trade Flows (CCP / Bilateral Clearing)
MyStandards
Any other MP that needs to be described/revised
Consultation with PMPG
Creation of MP of Securities related Cash / FX Processes
Work Closely with NMPGs to harmonise Local SR MPs
Potential changes to MPs under T2S umbrella

15. APAC RMPG Establishment Purpose Organisation June 2012
increase the engagement of the APAC community in global and regional market practice and standards discussion
support the creation of National Market Practice Groups (NMPG) in as many APAC countries as possible and provide assistance to the existing ones
Organisation
Light structure facilitated by SWIFT Standards Singapore (no chair)
One physical meeting / year, conference calls
Exchange of information and network building in all APAC countries

16. Existing NMPGs in APAC Existing None yet Under Constructon Australia
North Korea
Japan
South Korea
China
Nepal
Bhutan
Taiwan
Bangladesh
Philippines
India
Myanmar
Laos
Hong Kong
Thailand
Vietnam
Cambodia
Maldives
Brunei
Sri Lanka
Malaysia
Singapore
Existing
Indonesia
East Timor
Under Constructon
None yet
Australia
Australia
New Zealand

17. Collaboration with ABMF
Two SMPG Steering Committee regional directors as international experts on ABMF SF2
SWIFT Standards as international experts on ABMF SF2
ABMF updates at global SMPG meetings
ABMF support to SMPG for creation of NMPGs in ASEAN + 3
ABMF participation to APAC RMPG and maybe global SMPG in the future
Etc.

18. SMPG Publications
@GlobalSMPG

19. SMPG 2013 meetings
Spring
Frankfurt
Fall
Johannesburg