Financial Markets Standards Board publishes standard for sharing standard settlement instructions

The Financial Markets Standards Board has published the final version of its standard for sharing standard settlement instructions. The standard establishes core principles which set out expected practices for the sharing of SSIs between market participants and also includes templates for manually shared SSIs for cash and securities. These core principles relate to: use of industry platforms; off-platform settlement; timing; data fields; data format; data validation; validity; governance and responsibility; and periodic review. The standard is intended to supplement existing laws, regulation and guidance and applies to FMSB member firms in respect of their own or their clients' SSIs.

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