The SI-NMPG has been established as a part of global securities market practice group (SMPG). The objective of the NMPG is to discuss and agree on local harmonized market practices to promote straight through processing (STP) using ISO 15022 and ISO 20022 standards. These practices shall be in line with existing globally agreed market practices. Country specific requirements shall be documented, published (on www.smpg.info) and kept up to date by the group.
The NMPG shall comment on SMPG global market practice working documents and send representation to the global SMPG meetings.
Organization of the group
KDD and its members (participants) delegate their representatives to the group. Group consists of representatives, whose institutions (KDD and its members) use ISO 15022 or ISO 20022 standards for settlement in KDD. Group meetings are convened by KDD, who provides facilities for meetings and prepares and publishes market practice group documents on SMPG web site (www.smpg.info). Group is chaired by a national convenor (primary contact) and a vice-convenor (secondary contact). Group meets at least once per year.
The national convenor chairs NMPG meetings, represents the views of the national group at global level and ensures the circulation of the information at local level. The vice-convenor helps the convenor and acts as an alternate in case of convenor’s absence.
Usage of ISO 15022 messages for settlement in KDD can be used only by those KDD members who opted to use SWIFT interface to access KDD’s settlement system. KDD members, who intend to use or already use SWIFT interface, can delegate representatives to the group.