Transcription
Investment FundsWorking GroupAn OverviewAPAC RMPGOctober 2015Last updated 2 October 20151
Agenda WelcomeOverview Funds SMPG Working GroupNMPGPublication of market practice
Background and HistoryThe Securities Market Practice Group, SMPG, has been inexistence since 1998 (17 years old).The investment funds (IF) sub-group of SMPG waslaunched in 2005 at the Frankfurt SMPG meeting, so it isnow 10 years old.3
SMPG overallSteering CommitteeSMPG - Investment Funds Working GroupNMPG – National Market Practice GroupsAsset managers, distributors,intermediaries, platforms, transfer agents,administrators, etc.4
SMPG Organisation - Steering CommitteeChairpersonVice ChairpersonGeneral SecretaryProgramme DirectorKarla McKenna(US)Rudolf Siebel (DE)Jacques Littre(SWIFT)Evelyne Piron (SWIFT)Regional DirectorsAmericasJason Brasile (US)TBDAsiaEMEAJyi-Chen Chueh (SG) Christine StrandbergElection in progress (SE)Armin Borries (DE)5
SMPG Working GroupsCO-CHAIRSFACILITATORSSettlement &ReconciliationMarcin ZawistowskiAxelle WurmserEvelyn PironCorporateActionsJacques LittreBernard LenelleChristine StrandbergNadine MuhigiriJ. ChapmanCharles BoniverTrade Initiation& nds6
SMPG Investment Funds Working GroupThe scope and focus of investment fund SMPG is defined as:“Collective investment schemes traded onprimary markets on behalf of the fund.”May have to beexpandedThis excludes secondary market transactions oninvestment funds.It was decided to follow the 80/20 rule and focus onthe 80%. But if a country has a specific issue in the“20%”, then it would be looked at.ISO 20022 is the standard on which work is to befocused.7
How we did it Funds was first SMPG group to work with XMLstandard Very few had adopted it in 2005 We had to find our way! No tools to help us specify market practice for theXML standard Had to work manually (painful) Many education-type sessions SMPG took the lead to define market practice forthe order process To some extent, SMPG still takes the lead if aparticular standard is not used very much8
Market Practice ProcessSMPGReview, discussion,refinementCollate common elements,identify further opportunitiesfor harmonisationNMPGsAnalyse & documentlocal practices*1 Mayalso be published on www.smpg.comPublishMyStandardsSMPG IF *1PublishMyStandardsNMPG CC IF *19
Participation in SMPG Funds urgDenmarkNorwayFranceSpainGermanySwedenGreat BritainSwitzerlandAFAC (HK)Contact via SWIFT, HK officeNewSingaporeParticipation in pastIrelandAustriaTaiwan10
Funds NMPG convenorsCountryConvenor / Vice-convenorOrganisationAUSuresh Chinnappa (temporary)NABBRAna AbidorAnbimaCHRainer VogelgesangSix GroupDEThorsten Hühne--DKNiels W. HougaardVPESRafael Higueruelo Islan ,Juan Carlos GallegoAll FundsFRValerie VaudelBNP ParibasGBBen Cocks, David AspinallAltus, SkandiaITAndrea MilanesioPine 3LUCharles BoniverRBCNOSvein R. Borgersen, Pal BergquistVPS, VPSSEHenrik StaffasSkandia--Nadine MuhigiriECLR--Tomas BreminCEDESG?11
SMPG Meeting ScheduleGlobal SMPG (S & R, CA and Funds) – physical meeting twice a yearTypically, the investment funds WG attends the global meeting whenheld in Europe.If investment funds does not join the global meeting, then aseparate investment funds physical meeting is held. For example,when SMPG was in Toronto (2011), funds held its own meeting inLondon.SMPG Investment Funds WG - Monthly conference callsOnce a month, the third Tuesday, 1200 CET. Next calls are:November 17 2015December 15 2015NMPGs Investment Funds – as appropriate12
Setting up the NMPG for Singapore Investment Funds Agree on who is to be the convenor and vice convenor ofthe ‘NMPG SG IF’Invite representation from representative number of SGfunds institutionsAgree on a schedule of meetings, conference calls etcAgree priorities for the group and a possible time-lineInform SMPG IF working group of the names of theconvenor and vice-convenorSMPG IF will include NMPG SG IF convenors in e-mail list forSMPG IF monthly meetings and other activitiesInform MyStandards of names of persons to beadministrator and publisher for the MyStandards NMPG SGIF groupNMPG SG IF convenors attend SMPG IF monthly calls andglobal SMPG meetings13
Publication of Market PracticeToday, the prime publication mechanism for marketpractice is MyStandards (more later).Information about events and minutes documentsare published on www.smpg.info. In addition, somemarkets publish market practice documents onsmpg.info.14
www.smpg.info – Home PageAPAC RMPG Meeting6 October 2015 - SingaporePRESS RELEASE – April 172015FX Order and Confirmation MP v2.2.pdfAugust 28 2015Third Party Foreign Exchange SMPG MP V1.6.pdfAugust 28 2015Global RMPG Meeting7 – 9 October 2015 SingaporeInformation about events and minutesdocuments published on www.smpg.info. SomeNMPGs also publish documents on smpg.info.15
www.smpg.info – Market Practices & Documents16
www.smpg.info Folders for Investment FundsIf Singapore NMPGInvestment Fundswants to publish onsmpg.info, a folder forSingapore will beadded17
Publication of National Market PracticeToday, the prime publication mechanism for market practice forinvestment funds is MyStandards.The various funds NMPGs have a group on MyStandards.Italy have an additionallicence for MyStandards,formal centralised messageimplementation supporthas been put in placeA group forNMPG SG IFwill be addedThe four SMPG groups18
Publication of National Market Practice - SGA group will be set up for ‘NMPG SG IF’NMPG SG IF must decide who will: Be the administrator for the groupthis involves actioning requests for membership to thegroup Be a publisher for the group The publisher will download the Usage Guideline Editorand repositories Input market practice with and on behalf of NMPG SG IF Upload market practice to MyStandards Run comparisons against other market practices19
APAC RMPG Meeting 6 October 2015 - Singapore PRESS RELEASE - April 17 2015 Global RMPG Meeting 7 - 9 October 2015 - Singapore FX_Order_and_Confirmation_MP_v2.2.pdf Third_Party_Foreign_Exchange_SMPG_MP_V1.6.pdf August 28 2015 August 28 2015 www.smpg.info - Home Page Information about events and minutes documents published on www.smpg.info.
