Last updated 2 October 2015

Investment Funds Working Group

An Overview APAC RMPG

October 2015 1

• Welcome

• Overview Funds SMPG Working Group

• NMPG

• Publication of market practice

Agenda

Background and History

The investment funds (IF) sub-group of SMPG was launched in 2005 at the Frankfurt SMPG meeting, so it is now 10 years old.

The Securities Market Practice Group, SMPG, has been in existence since 1998 (17 years old).

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SMPG overall

Steering Committee

SMPG - Investment Funds Working Group

NMPG – National Market Practice Groups

Asset managers, distributors, intermediaries, platforms, transfer agents,

administrators, etc.

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SMPG Organisation - Steering Committee

Chairperson Vice Chairperson

General Secretary Programme Director

Regional Directors

Karla McKenna(US) Rudolf Siebel (DE) Jacques Littre(SWIFT) Evelyne Piron (SWIFT)

Americas Jason Brasile (US) TBD

Asia Jyi-Chen Chueh (SG) Election in progress

EMEA Christine Strandberg (SE) Armin Borries (DE)

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SMPG Working Groups

Settlement & Reconciliation

Corporate Actions

Investment Funds

CO-CHAIRS

Bernard Lenelle Christine Strandberg

Marcin Zawistowski Axelle Wurmser

Nadine Muhigiri Charles Boniver

SMPG Working Groups

FACILITATORS

Evelyn Piron

Jacques Littre

J. Chapman

Trade Initiation & Confirmation (Dormant)

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SMPG Investment Funds Working Group

The scope and focus of investment fund SMPG is defined as:

“Collective investment schemes traded on primary markets on behalf of the fund.” This excludes secondary market transactions on investment funds. It was decided to follow the 80/20 rule and focus on the 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 be focused.

May have to be expanded

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• Funds was first SMPG group to work with XML standard

• Very few had adopted it in 2005 • We had to find our way! • No tools to help us specify market practice for the

XML standard • Had to work manually (painful) • Many education-type sessions • SMPG took the lead to define market practice for

the order process • To some extent, SMPG still takes the lead if a

particular standard is not used very much

How we did it

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Market Practice Process

SMPG

NMPGs

Publish MyStandards SMPG IF *1

Review, discussion, refinement

Collate common elements, identify further opportunities

for harmonisation

Analyse & document local practices

Publish MyStandards NMPG CC IF *1

*1 May also be published on www.smpg.com 9

Participation in SMPG Funds IF Market Infrastructures

Singapore

AFAC (HK)

Italy

Spain

Norway

Sweden

Luxembourg

Switzerland Great Britain

Brazil

Australia

France

Germany

Denmark

New

Contact via SWIFT, HK office Ireland

Participation in past

Austria

Taiwan 10

Funds NMPG convenors

Country Convenor / Vice-convenor Organisation

AU Suresh Chinnappa (temporary) NAB

BR Ana Abidor Anbima

CH Rainer Vogelgesang Six Group

DE Thorsten Hühne --

DK Niels W. Hougaard VP

ES Rafael Higueruelo Islan ,

Juan Carlos Gallego

All Funds

FR Valerie Vaudel BNP Paribas

GB Ben Cocks, David Aspinall Altus, Skandia

IT Andrea Milanesio Pine 3

LU Charles Boniver RBC

NO Svein R. Borgersen, Pal Bergquist VPS, VPS

SE Henrik Staffas Skandia

-- Nadine Muhigiri ECLR

-- Tomas Bremin CEDE

SG ???

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SMPG Meeting Schedule

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SMPG Investment Funds WG - Monthly conference calls Once a month, the third Tuesday, 1200 CET. Next calls are: November 17 2015 December 15 2015

Global SMPG (S & R, CA and Funds) – physical meeting twice a year

Typically, the investment funds WG attends the global meeting when held in Europe.

If investment funds does not join the global meeting, then a separate investment funds physical meeting is held. For example, when SMPG was in Toronto (2011), funds held its own meeting in London.

NMPGs Investment Funds – as appropriate

Setting up the NMPG for Singapore Investment Funds

• Agree on who is to be the convenor and vice convenor of the ‘NMPG SG IF’

• Invite representation from representative number of SG funds institutions

• Agree on a schedule of meetings, conference calls etc • Agree priorities for the group and a possible time-line • Inform SMPG IF working group of the names of the

convenor and vice-convenor • SMPG IF will include NMPG SG IF convenors in e-mail list for

SMPG IF monthly meetings and other activities • Inform MyStandards of names of persons to be

administrator and publisher for the MyStandards NMPG SG IF group

• NMPG SG IF convenors attend SMPG IF monthly calls and global SMPG meetings 13

Publication of Market Practice

Today, the prime publication mechanism for market practice is MyStandards (more later).

Information about events and minutes documents are published on www.smpg.info. In addition, some markets publish market practice documents on smpg.info.

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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. Some NMPGs also publish documents on smpg.info.

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www.smpg.info – Market Practices & Documents

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www.smpg.info Folders for Investment Funds

If Singapore NMPG Investment Funds wants to publish on smpg.info, a folder for Singapore will be added

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Publication of National Market Practice

Today, the prime publication mechanism for market practice for investment funds is MyStandards.

The various funds NMPGs have a group on MyStandards.

The four SMPG groups

Italy have an additional licence for MyStandards, formal centralised message implementation support has been put in place

A group for NMPG SG IF will be added

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Publication of National Market Practice - SG

A group will be set up for ‘NMPG SG IF’

NMPG SG IF must decide who will:

• Be the administrator for the group

this involves actioning requests for membership to the group

• Be a publisher for the group

• The publisher will download the Usage Guideline Editor and repositories

• Input market practice with and on behalf of NMPG SG IF

• Upload market practice to MyStandards

• Run comparisons against other market practices

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