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Title: Singapore


1
Singapore
  • 29 October 2007

2
FISD Local MeetingSingapore
  • Nick Merritt
  • Director, Programs
  • Financial Information Services Division
  • Software Information Industry Association
  • 29 October 2007

3
Thank you to our hostSingapore Exchange
4
FISD Local Meetings in Asia/PacRim
  • FISD Executive Committee stresses increased
    involvement in region
  • Several events and meetings since 2004
  • Role of Local Meetings
  • Semi-annual series of events in major Asia/Pac
    financial centers
  • Open to FISD members and non-members for 2007
  • Provide opportunity for Asian members to
  • Engage more actively in FISD agenda
  • Address issues that are unique to the region
  • Brief local colleagues on developments within
    their organizations

5
Todays Agenda
  • Outlook for Asian Markets in the Aftermath of the
    Sub-Prime Turmoil
  • ---Rosalind Mathieson Billy Mallard, Dow Jones
  • FISD Briefing
  • ---Liz Cummings, FISD
  • Sourcing Data in a Global Environment
  • ---Tee Williams, Tee Williams Associates
  • FISD Briefing
  • ---Nick Merritt, FISD
  • Billing and Invoicing Briefing
  • ---David Toomey-Wilson, MDSL
  • Networking Reception

6
Notice to Members of the Media Please be
advised that quotation or attribution of any
speaker must be granted directly by an individual
speaker. Because companies operate with
potentially different policies, and to give
presenters the freedom to speak candidly, we
assure them that presentations and comments are
off-the-record unless express permission is
granted by an individual to use information from
a presentation or a quote from this conference.

7
Singapore
  • 29 October 2007

8
Outlook for Asia Markets in the Aftermath of
the Subprime TurmoilRosalind Mathieson and
Billy MallardDow Jones Newswires

9
Dow Jones Newswires Mission
  • The worlds premier independent provider of
    real-time, market-moving financial news for
    financial professionals and their clients.

10
Dow Jones Newswires Overview
  • Delivers equities, fixed income, foreign
    exchange, commodities and energy news analysis.
  • 24 hours a day, seven days a week
  • 438,000 subscribers, excluding Website users
  • Available through distributors (Reuters, etc.) as
    well as email delivery and DJ Websites.
  • License content sets to financial firm intranets
    and customer extranets.

11
Real-Time News And Analysis
  • Thoughtful coverage of markets and economies
    around the globe
  • Instant analysis of breaking news and events.
    Going beyond the what is happening to the why
    it is happening, and the what happens next.
    Using the popular Market Talk format and regular
    market-based columns
  • Giving readers the material they need to make
    quick investment decisions
  • Utilizing a team of experienced reporters,
    editors and columnists. In-house analysis of
    currencies, derivatives, equities and commodities
    provided via CommentaryPlus
  • Tapping market experts for their views

12
DJN Editorial Resources
  • 1,800 editors and reporters
  • 850 DJ Newswires - 90 bureaus (200 staff members
    in Asia-Pacific with 19 bureaus in 15 countries
    in the region).
  • 740 Wall Street Journal, including its overseas
    editions.
  • 210 other DJ publications (MarketWatch, Barrons,
    SmartMoney).

13
Dow Jones Newswires Services
  • Flash Headlines Single lines of information
    containing potentially market-moving news that
    subscribers must see immediately.
  • Spot News Breaking news that is written about as
    it happens.
  • Market Talk Brief, real time commentary about
    events affecting the markets. Updated constantly
    throughout the day and one of the most popular
    features of DJN.
  • Market Comments Midday or end-of-day summaries
    on what specific markets are doing. Wraps up
    coverage included in Market Talk throughout the
    day. Broader market wraps on days when markets
    are particularly volatile
  • Enterprise Stories or Columns These stories
    provide in-depth, forward looking analysis and
    perspective on spot developments, trends and
    major news. Includes columns filed on a regular
    basis, like Money Talks, Taking Stock and FX
    Asia.

14
August Market Crisis
  • U.S. subprime mortgage-related worries had been
    around for a while, but snowballed in August,
    sending credit and stock markets around the globe
    into disarray, hurting risk appetite and leading
    to the Federal Reserves 50 basis point interest
    rate cut in September
  • It was a busy, challenging and exciting time to
    be writing about financial markets. Each day the
    story changed - sometimes several times within
    the one day. Markets were extremely volatile.

15
How we covered markets in August
  • Provided 24 hour, global coverage and analysis of
    a constantly evolving story.
  • Delivered scoops as the credit crisis unfolded
    in the U.S. and in places like the UK and the
    Australia (e.g. Basis Capital). Far ahead on
    Aussie FX intervention.
  • Focused on how funds and banks were coping.
    Looked for points of tension in credit markets.
  • Detailed analysis of the effects on stocks,
    currencies, bonds, derivatives, energy and
    commodities. Frequent pan-Asian market update
    stories
  • Flows where is the money coming from? And where
    is it going?
  • Market columns from experienced writers

16
Market Columns
  • Volatility Mark II To Be Courtesy Of China? 30
    August 2007 With all eyes on the U.S. economy and
    the fallout from housing sector weakness, some
    are starting to wonder when the next shoe may
    drop - and where.
  • Widespread Selling A Stock Picking Opportunity 29
    August 2007 For all the lip service paid to
    decoupling, stock traders in Asia certainly don't
    seem to be willing to put their money behind the
    concept.
  • A Fresh Headwind But Not The Beginning Of The End
    28 August 2007 Asia's stock markets and
    currencies have a big headwind Wednesday in the
    form of a slump on Wall Street, but this latest
    wobble doesn't mean we are yet living in
    extraordinary times.
  • Hey Mate, What's The Hurry With The Carry Trade?
    23 August 2007 Risk aversion is slowly receding,
    pulling the yen back down with it, and the gap
    between interest rates in Japan and overseas is
    still tantalizingly large.
  • Check The Money Supply Speedometer Too 15 August
    2007 Any boy racer will tell you that it's not
    just the size that matters, it's also the speed.
    And so it is with high octane money supply in
    Asia where economies are also in top gear.
  • Investors May Find Value Among CDO Wreckage 5
    August 2007 As a lot of dust continues to be
    kicked up around the U.S. subprime and structured
    credit markets, and specifically the
    collateralized debt obligation market, it's
    understandable that investors are fleeing without
    much discretion.

17
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19
Outlook For Asian Markets
  • Global economy still in good shape, U.S. housing
    slowdown sectoral in nature.
  • Debate on whether Asia is decoupling
  • Feds Sept 50bp cut both insurance policy,
    preemptive measure. Is likely to cut again Oct.
    31, given weakness in the housing sector and
    despite solid payrolls. In part because markets
    expect action. Some chatter about 50 basis points
    but this could be an over-reaction.
  • May be more easing in the pipe after that.
    Question remains the health of the U.S. consumer.
    Stagflation appears highly unlikely.

20
Outlook For Asian Markets
  • Our general view less sophisticated financial
    markets a positive, Asia to outperform on
    fundamentals
  • User-friendly risky assets such as equities to
    benefit most from fund outflows from CDOs, ABS,
    etc. Fund flows to Asia set to continue.
  • Relative-value strategies, rather than
    directional exposure, preferred for most asset
    classes, especially fixed income

21
Outlook For Asian Markets
  • Foreign Exchange Market
  • - Further USD weakening after G7 meeting but
    dollar may reassert strength in 2H08.
  • USD fall likely more pronounced vs Asian units,
    on stronger local fundamentals, currency
    appreciation hopes intervention risks remain
    though central banks may tolerate some currency
    gains.
  • G7 singling out China on the yuan. Periodic
    rumors of one-off revaluation but this seems
    unlikely. Given strong economic data, though,
    China may let the yuan rise faster.

22
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23
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24
Outlook For Asian Markets
  • Fixed Income Market
  • Generally bearish in Asia over local-currency
    bonds, high-grade credits. Cautiously bullish
    over high-yielders.
  • Directional bets extremely risky given policy
    uncertainty. Curve trades, swap spread plays
    preferred.
  • Dow Jones CommentaryPlus recommends short-term
    2/10 UST curve flattener. Sees opportunities in
    curve steepener in HK, Korea, Taiwan. Swap spread
    tightener in Malaysia, widener in Taiwan, basis
    tightener in Korea.

25
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26
Outlook For Asian Markets
  • Stock Markets
  • Fund inflows have led to repeated record highs in
    Korea, HK, India, Australia and Singapore
  • Considerable amount of demand from real money
    coming from structured debt markets
  • Valuation concerns growing, especially in China.
    What happens if the China bubble bursts?
    Beijings policy response is key, here
  • Room for further Asian rallies though investment
    may become more selective near term
  • Techs cutting capex which may help that sector

27
Outlook For Asian Markets
  • China
  • Economy still in robust shape, inflation in
    uptrend but may slow 2H08 at least 1-2 hikes in
    interest rates, RRR before end of 1Q08
  • No major breakthrough for CNY regime 5 annual
    appreciation rate remains consensus
  • Shanghai stocks expected to set new highs, 8,000
    within reach liquidity, liquidity, liquidity
  • More financial sector reforms. Derivatives to
    play bigger role
  • Focus on sovereign wealth fund, corporate
    expansion overseas

28
Outlook For Asian Markets
29
Dow Jones CommentaryPlus Trading Ideas
  • Long EUR 2-to-10-Year Butterfly On Hawkish ECB
    Comments
  • Consider long EUR IRS 2-5-10-year butterfly given
    normalization of euro money market, recent
    hawkish ECB rhetoric. Belly of curve may rise
    faster vs wings as markets increasingly expect
    ECB to continue rate hikes into 2008.
  • Butterfly spread now minus 12 bps (left wing
    parity, right wing 12 bps), could rise to revisit
    June/July year peak at parity, possibly in 2-3
    months. Daily MACD positive since Sept should
    help trade. Stop-loss minus 16 bps.
  • Rationale curve's 2-to-5-year section likely to
    normalize further, steepen more than
    5-to-10-year. Butterfly better riskreward than
    playing volatile 5-year tenor vs short or long
    end alone.
  • Fundamentals agree. ECB members Axel Weber,
    Nicholas Garganas voiced concerns last week over
    increased inflationary risks in euro-zone
    economy. Weber warned Friday central bank's
    policy stance could even become restrictive, said
    "there is a danger that...there will be a need
    for additional action (on rates), especially
    since the price rises are taking place on a broad
    front and are no longer only attributable to
    energy and food prices." -- Alfred Yeo,
    alfred.yeo_at_dowjones.com

30
Dow Jones CommentaryPlus Trading Ideas
  • Put On TWD 5-Year Basis-Swap Tightener
  • Consider TWD 5-year currency basis-swap
    tightener, taking advantage of excessive widening
    trend in past few months to position for
    medium-term correction.
  • IRS now 52 bps above CCS. Basis has potential to
    narrow back toward 37-42 bps in 2-3 months.
    Stop-loss 60 bps. Entry attractive current
    level slightly below late Jan's year high of 62
    bps, well above late May's year low of parity.
  • Basis has been widening sharply since early Jun,
    initially driven by sharp receiving spree in CCS
    early Aug but exacerbated by rise in IRS,
    residual CCS receiving in past week or so.
  • Market seems to be forming consensus current
    basis level too wide, should correct in coming
    months as CCS needs to catch up with paying trend
    in IRS Taiwan fixed income fundamentals fast
    deteriorating on higher-than-expected domestic
    inflation, resilient local economy, persistent
    central bank hawkishness.
  • That said, trade not meant for faint-hearted as
    Taiwan's CCS market notoriously illiquid,
    volatile due to influence of isolated flows.
    However, reward could be equally huge. -- Shen
    Hong, hong.shen_at_dowjones.com

31
Singapore
  • 29 October 2007

32
About FISD
  • Financial Information Services Division of the
    Software and Information Industry Association
  • Non-profit trade organization that provides a
    global, neutral forum for the financial
    information industry
  • Broad areas of focus
  • Business issues policies, commercial terms,
    contracts
  • Government affairs e.g., MiFID (EU), Reg NMS
    (U.S.)
  • Securities processing automation standards,
    technology
  • Executive Committee
  • - Annual Elections
  • - All members eligible to serve

33
About FISD
  • Membership development
  • 140 member companies
  • Data Consumers - Banks, Brokerage, Buy-side
  • Exchanges and Markets
  • Data Vendors Reuters, Bloomberg, Thomson,
    IDC,Telekurs
  • Service Providers software, consulting, network
    providers
  • Events
  • -networking
  • -education
  • Role of Constituent Groups Opportunity for
    members to meet with their colleagues in similar
    organizations
  • Exchanges
  • Consumers Banks, Brokerages, and Investment
    Managers
  • Vendor all other members
  • Data Vendor Sub-group

34
FISD Events
  • Free to FISD Members
  • General Membership Meetings
  • London 4 December (Holiday party)
  • Thanks to our host Reuters
  • Europe 2008 March
  • NYC 12 June - in conjunction with SIFMA
    conference Thanks to our host Reuters
  • FISD Issue Briefs
  • New York 13 December (Holiday party)Thanks to
    our host Credit Suisse
  • New York February 2008
  • London May 2008
  • Master Calendar www.fisd.net/schedules

35
Asia Pacific Events
  • Local meetings
  • Spring 2008
  • Asia Pacific Financial Information Summit
  • Hong Kong
  • Joint event with Incisive Media
  • Fall 2008

36
Committees and Working Groups
  • Participation open to all members
  • Meetings held quarterly or as needed
  • May attend in person or via teleconference
  • Agendas and notes emailed to committee
    participants
  • Updates provided to members monthly

37
Committees and Working Groups
  • FISD Executive Committee
  • Securities Processing Automation
  • Business Issues
  • Operations/Governance
  • Standards
  • Steering Committee
  • WG1 (ISIN) shadow Group
  • Entity Identification (IBEI)
  • MiFID
  • Real-time Market Data
  • Contract/Commercial
  • MiFID Joint Working Group
  • Consumer Reference Data
  • Business Issues
  • Policy Practice
  • Billing Invoice
  • Service Level/Communication
  • Anti-Piracy
  • Constituent Groups
  • Consumers
  • Vendors
  • Data Vendors
  • Exchanges
  • Training/Certification Study Group

38
Training and Certification
  • Recent member focus on training and certification
    of industry staff members
  • Industry needs more variety and access to quality
    training courses on financial information topics
  • Industry would benefit from the creation of one
    or more market data credentials
  • Criteria for hiring and promotion
  • Staff development goals and opportunities

39
Training and CertificationPotential FISD Roles
  • Leverage FISDs role as a neutral player in
    industry
  • Facilitate delivery of training courses
  • Leverage FISD communication, logistic, and
    registration competencies
  • Course content and trainers are independent of
    FISD
  • Seek companies and individuals with interest and
    aptitude
  • Develop and administer qualification tests
  • Manage industry database of individuals
    credentials

40
Communication
  • Monthly Newsletter
  • Bi-Monthly Upgrade Magazine
  • Weekly Event Announcements
  • Year in Review
  • Website

41
Singapore
  • 29 October 2007

42
FISD Working Groups
  • Business Issues Agenda
  • Business Issues Policy and Practice Standards
    (BIPPS)
  • Service Level and Communications
  • Anti-Piracy
  • Billing and Invoice

43
BIPPS Working Group
  • Unit of Count
  • Metric used by exchanges for measurement of
    fee liability for consumers display of data

44
Unit-of-CountAlternative approaches
  • Per device/unique user ID
  • Basic policy used by many major exchanges
    globally
  • Multiple charges for a users access through
    multiple data vendors
  • Per user (i.e., per person) across all delivery
    channels (data vendors, internal distributions
    systems, etc.)
  • Desired by consumers
  • Flexibility in usage and reduces administrative
    burdens
  • Requires direct relationship between exchange and
    consumer for reporting, billing, and possibly
    contracting
  • Different fee level than per device/unique user
    ID

45
Unit-of-CountExchange Concerns Approaches
  • Exchange concerns about Per User approach
  • Revenue loss in situations where a single user
    accesses through multiple instances/sessions/IDs
  • Administrative complexity
  • Burden of maintaining direct exchange-consumer
    relationship
  • Exchange developments
  • Chicago Mercantile Exchange enterprise license
    policy
  • DeutscheBoerse
  • NASDAQ

46
Market Data Audits
  • Consumers acknowledge that exchanges need to
    verify revenue streams
  • Consumers concern increasing burden of market
    data audits
  • More exchanges are auditing
  • More frequent audits
  • Varying levels of skill/knowledge among exchange
    auditors
  • Financial concerns
  • Auditor incentives based on amount of back fees
    identified and collected Consumers believe that
    this distorts the objectivity of the audit
  • Limits on back fee liability for under-reporting
    situations

47
Potential Solutions
  • Must maintain exchange confidence in accuracy of
    reporting and fee collection
  • Consolidation of exchanges audit activities
  • Outside auditor does single review on behalf of
    multiple exchanges
  • Use of a single technical review of entitlement
    system (by an outside auditor) that satisfied
    multiple exchanges
  • Joint audits by exchange personnel
  • More coordination of schedules among exchanges
  • More uniform practices across exchanges
  • Better training of audit personnel

48
Non-display Usage of Data
  • Ongoing discussions in BIPPS working group and
    Exchange and Consumer Constituent Groups
  • www.fisd.net/mdadmin/BIPPS_20Derived20Data_Non-
    Display_20Definitions_White20Paper.pdf
  • Exchange concern As use of algorithmic trading
    (black boxes etc.) increases, more use of
    exchange data does not involve display of data to
    users
  • Data value continues, or increases, but data
    revenues decline because fewer people are looking
    at it

49
Non-Display Usage
  • Vendor and consumers concerns that exchanges
    approaches may
  • Inhibit flexibility in usage
  • Increase administrative burden unnecessarily
  • Inadvertent exposure to back fees from honest
    misunderstanding of policies
  • Consumers are seeking
  • Simple fee structures
  • Low administrative burden on them (and exchanges
    too)

50
Service Level and Communications
  • Group originally created in 2004 and published
    best practices document
  • http//www.fisd.net/Mdadmin/BPR_033105.pdf
  • Five areas of focus
  • Scheduled Interruptions and Change Management
  • Unplanned Interruptions
  • Notification Periods for General Activities
  • Systems Considerations and Data Recovery
  • Administrative and Policy Changes
  • Document is being reviewed and revised

51
Anti-Piracy Working Group
  • Members concerns regarding misuse of members
    content
  • Exchanges
  • Market operators and data consolidators
  • News services
  • Rating agencies
  • Three types of pirates
  • Inadvertent
  • Rationalizer
  • Malicious

52
Anti-Piracy Working Group
  • Focus on Two Functions
  • Education
  • Communication

53
Singapore
  • 29 October 2007

54
Billing and Invoice Working GroupBriefing on
Best Practice Recommendations
  • 29 October 2007

55
Billing and Invoice Working Group
  • Open member forum to discuss billing and invoice
    issues
  • Participants
  • Consumers
  • Vendors
  • Exchanges
  • Inventory Management System providers
  • Consultants
  • Formed in December 2005
  • Group meets monthly (approximately)
  • New members welcome

56
Best Practice Recommendations
  • Billing/Invoice Recommendations - support
    electronic invoicing
  • Standard Data Elements
  • Billing best practices
  • Sample Invoice
  • Draft Recommendations recently distributed to
    major Consumer member firms seeking
  • Understanding
  • Feedback
  • Endorsement
  • Final version
  • Will incorporate Consumer comments and
    endorsements
  • Will be provided to exchanges, content providers,
    and vendors (Invoice Providers)
  • Adoption of full recommendations by Invoice
    Providers is a long-term proposition
    recommendations prioritized

57
Contributions from a variety of member firms
  • Alliance Bernstein Goldman Sachs Putnam
    Investments
  • Amex HSBC RBC
  • ASX ixPartners Reuters
  • Bank of America Jordan Jordan TCB Data Systems
  • Bloomberg Lehman Brothers TD Ameritrade
  • Caxton MDSL The Capital Group
  • Charles Schwab Merrill Lynch TRG
  • Credit Suisse Morgan Stanley TSX
  • Fidelity NASDAQ UBS
  • FISD NYBOT

58
The Six Recommendations
  • Billing Options
  • Invoice Information
  • Payment
  • Customer Service
  • Billing Cycles
  • Reporting
  • High Priority Items are in bold, italics

59
Billing Options
  • Invoice in an electronic format - not .pdf!
  • Offer the option of Self-invoicing
  • Customer controls its users access to a
    Providers services (e.g., data feeds) and
    reports those users to the Provider.
  • Customer creates its own invoice for a Providers
    service, based on the its control of its users
    access to the service
  • Customer submits the invoice and associated
    payment
  • Offer options
  • Multiple copies to multiple contacts
  • Hardcopy and/or electronic
  • Electronic access to invoice copies
  • Providers should initiate the billing process
  • an invoice
  • a notice that an invoice has been created and is
    ready to be accessed

60
Invoice Information
  • Customers can review the usage reporting that
    vendors provide to exchanges
  • Electronic files should be synchronized with the
    paper invoice that it supports
  • Invoiced amount matches inventory data on the
    invoice.
  • Offer different levels of detail
  • a notice that a new invoice is available
  • a summary with high-level break-outs
  • a complete detail report current inventory and
    current period changes

61
Invoice Information(continued)
  • Product descriptions on invoices should match
    product descriptions in Providers contracts.
  • Invoices should indicate whether the population
    was taken from current reporting, or a prior
    month.
  • Flag (current vs. prior month)
  • Date of receipt of the report used to create the
    invoice.
  • Invoices should include the Customers
    Provider-assigned account numbers

62
Payment
  • Invoices in the currency that best allows the
    Customer to process and pay the invoice
  • Automated electronic payment should be
    facilitated.
  • Provider should provide all necessary electronic
    payment information
  • ABA number and routing instructions
  • Wire transfer numbers
  • ACH numbers

63
Customer Service
  • Each customer should have a dedicated
    representative
  • or at least each question/issue owned by a
    representative until resolution
  • Telephone and e-mail access to billing
    departments for questions, complaints,
    corrections etc.
  • Mechanism that allows Customers to track the
    resolution of issues
  • Web access for Customers to view their
    populations, recent invoices, and payments

64
Billing Cycles
  • Uniform monthly cut-off date for reporting across
    Providers
  • All Providers include all reporting received
    prior to the standard cut-off date (e.g., the
    15th of each month).
  • Bill in full-month increments
  • No billing based on pro-rated monthly usage.
  • Pro-rated billing adds complexity without
    economic benefit.
  • Bill in advance for amounts that are
    contractually or otherwise committed and
    therefore unlikely to be subsequently adjusted.
  • Billing in arrears for charges and populations
    that can fluctuate on a monthly basis.
  • Monthly billing periods are preferred over
    quarterly billing periods for charges and
    populations that can fluctuate on a monthly
    basis.

65
Reporting
  • Zero populations should be reported using the
    numeral 0 i.e., not a blank, space, etc.
  • Each reporting organization should take its
    snapshot consistently at the same time of the
    month, each month.
  • Providers should not require that all vendors and
    customers take their population snapshots on the
    same specific day of the month.

66
Market Data Billing Schema
  • Standard data elements used to generate invoices
    and report product inventory
  • Defined and organized in the Market Data
    Invoicing Schema (MDI Schema).
  • Model invoice included that demonstrates how the
    various data elements could be presented.

67
Market Data Billing Schema
  • Four groups of data elements
  • Invoice description information
  • Information about the invoice producer
  • Information about the invoice recipient
  • Invoice detail that lists each location, the
    product inventory, and charges
  • Required data elements
  • Invoice and account numbers
  • Effective dates
  • Population usage counts
  • Optional data elements - Customers option
  • Customer PO s
  • Customer identifiers locations etc.

68
Time to take Action
  • Please join in the effort to benefit all of us
  • Review the recommendations and give your support
  • Copies of the Best Practices Document are
    available here with sample invoices

69
Customer Involvement
  • Best Practice Recommendations
  • Review
  • Comment
  • Endorse
  • Participate in Billing Invoice Working Group
  • Join monthly calls/meetings
  • Join mailing list to receive agendas and meeting
    reports
  • Let Tom Davin (tdavin_at_siia.net) know
  • Link to Best Practice Recommendations
  • http//www.fisd.net/mdadmin/biwg_project06.asp

70
Thank you
  • Contact details
  • David Toomey-Wilson
  • President, MDSL
  • 381 Fifth Avenue, 6th Floor
  • New York, NY 10016
  • Telephone 1(212) 201-6199
  • Mobile 1 (203) 434-5186
  • Email david.toomey-wilson_at_mdsl.com

71
Singapore
  • 29 October 2007

72
FISD Working Group Activities
  • Securities Processing and Standards

73
MDDL
  • Market Data Definition Language
  • Open, XML-based standard for interchange of
    financial information
  • Pricing
  • Securities set-up
  • Corporate actions
  • MDDL 3.0 has been completed
  • Completes initial scope for standard
  • Includes full documentation
  • See www.MDDL.org

74
ISO Standards Activities
  • WG1 ISO 6166 (ISIN)
  • Re-certification WG1 Task
  • FISD Shadow Group has been influential
  • Significant variances in ISO participants
    agendas around licensing terms
  • WG8 ISO 16372 (IBEI)
  • 10 year attempt to create a standard just failed
    for the second time.
  • Increasing pressure KYC and AML
  • Member Group forming
  • WG11 ISO 19312 (Securities Data Model)
  • Subset of MDDL model
  • May be incorporated into 20022 Repository
  • Final revision occurring now
  • Member Group in discussion
  • WG4 ISO 20022 (UNIFI)
  • Modeling Methodology and Repository for all
    Financial Services
  • FISD Staff active on WG4
  • www.iso20022.org

75
FISD Technology Track
  • Technology companies comprise a growing portion
    of FISD membership
  • FISD seeking to create an agenda track to serve
    them
  • Variety of potential media working groups,
    seminars, speaker series, white papers, blogs
  • Potential subject areas
  • Security/threat tracking - track and quantify
    risk exposure
  • Mobile Applications
  • Compliance
  • Tool Tracking
  • Others?

76
Singapore
  • 29 October 2007
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