SWIFT is launching a Web-based application called MyStandards to facilitate the management of global standards and related market practices across the financial industry.
Conceptualized in the Innotribe incubator, the financial industry sandbox, MyStandards combines standards content with features enabling users to centralize and manage standards-related information. The platform, geared toward business analysts, product and project managers and standards implementers, is set to go live by the end of June.
A number of firms have been involved in a MyStandards pilot program, including BNY Mellon, Bundesbank (T2S), Citi, Clearstream, J.P.Morgan, RBC Dexia, SIX Group/SIS, UK Payments Administration MPG.
SMPG supports MyStandards as a tool to streamline market practice for standards in the financial industry, says Karla McKenna, chairman of the Steering Committee of the Securities Market Practice Group (SMPG). We intend to use MyStandards to document market practices currently on the SMPG website and believe MyStandards will be a valuable tool for SMPG and individual NMPGs in the development, publication and distribution of future market practices.
(CG)