Following SWIFT recommendations many worlds’ leading countries have established national groups on analysis of securities market practice - Russian National Securities Market Practice Group (Russian NSMPG) (RU NSMPG).
National groups are aimed to create uniform guidelines and specific recommendations on creation and usage of SWIFT messages ISO 15022 standard and with regard to national regulatory aspects.
Representative of Russian NSMPG Elena Solovyeva regularly participate at conference call meetings of CA subgroup International Securities Market Practice Group (SMPG).
Russian National Securities Market Practice Group was established in November 1999. Among other activities, Russian NSMPG has adapted 5th Message Category in User Handbook for Russian National Member Group. As part of working process, Russian NSMPG prepared “Usage Guidelines for SWIFT standards for financial messages exchange in securities market with consideration of requirements and particular features of the Russian market” (SWIFT-RUS). SWIFT-RUS contains main aspects of filling SWIFT Messages (5th Category) in settlements on Russian securities market.
Elena Solovyeva, Expert at ROSSWIFT is Chairperson of Russian NSMPG.
At the present time representatives of VTB Bank, Gazprombank, Deutsche Bank (Russia), ING (Eurasia), Morgan Stanley Bank, National Settlement Depository, Rosbank, Citibank, UniCredit Bank, Raiffeisen Bank, SWIFT, Vnesheconombank, Alfa-Bank take part in the work of Russian NSMPG.
Current version of “Recommendations of use of SWIFT standards for financial messages exchange in securities market with consideration of requirements and particular features of the Russian market” (SWIFT-RUSC (RUS12)) has been approved by ROSSWIFT Steering Committee on January 22 th 2019.
Updated SWIFT- RUSC (RUS 12) complies with the new release of ISO 15022 standards messages of November 2018.
In the course of work on the new version of the document with the view to publish it at SWIFT MyStandards portal
Following the adoption of the new release of SWIFT standards in November 2018 several volumes of UHB Category 5 has been updated so far as it relates to the usage of SWIFT 5th Message Category in Russian.
Between in-person meetings members have remote discussions at RU-MPG closed forum (resource centre). Users can leave their requests and comments at open forum “Proposals”.
For all questions on Russian NSMPG activity, please, contact Elena Solovyeva, ROSSWIFT Expert.