Euroclear SA/NV introduces new message standards for global capital markets. It is the first set of approved ISO 20022 messages developed by an organisation operating in the securities industry other than SWIFT.
New standard meets company’s need for more timely corporate action information flows. Euroclear got the approval from the ISO 20022 registration bodies for a new set of ISO 20022 messages. The innovation will permit straight-through processing opportunities from issuers through to end investors. it will be possible for intermediaries and end investors to have faster access to relevant corporate action information from which to take appropriate decisions on securities holdings.
New message system will be used by central securities depositories (CSDs) and issuer-appointed agents to communicate both corporate action information and instructions between them since 2010.
“We are proud to contribute to the harmonisation of business practices globally, as well as for our own client purposes,” says Edwin De Pauw, director and head of Market Harmonisation and Communication, Euroclear. “Moving to ISO 20022 standards for corporate action communications between CSDs and issuer agents is in line with the Group of Thirty and Giovannini Group recommendations covering Barriers 1 and 3. It also supports the work done by the Barrier 3 Corporate Actions Joint Working Group in encouraging the adoption of ISO 20022 as the communications protocol to enable greater automation and more timely corporate action information flows.”
“Euroclear is supporting the convergence to ISO 20022 from two critical angles: helping to develop the ISO 20022 message portfolio which now includes 198 messages and acting as a catalyst for the adoption of ISO 20022 messages by an important industry segment,” says Jean-Marie Eloy, manager of the ISO 20022 Registration Authority. “Gaining the support of global market infrastructures such as Euroclear is key to the success of the standard.”
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