ISITC (The International Securities Association for Institutional Trade Communication), the industry trade group focused on standards in transaction processing and related communications, has announced the formation of a new Margin and Collateral Working Group focused on developing recommendations and best practices related to the collateral management lifecycle.
The Working Group will provide members with expertise on issues related to regulatory jurisdiction rules and timelines, and operational best practices for collateral management processing. It will also discuss messaging standards covering collateral calls, dispute resolution, margining, and asset movement/segregation supporting all collateralized instruments.
ISITC members Amy Caruso of DTCC-Euroclear Global Collateral Ltd. and Wayne Forsythe of State Street will act as Co-Chairs of the Working Group and are currently soliciting nominations for an additional Co-Chair.
“This working group was created in response to the need for more clarity on current challenges in the collateral industry,” said Caruso. “We are eager to share best practices and have spirited conversations on the way forward. All who are interested are welcome to join."
The Margin and Collateral Working Group will have an in-person meeting at ISITC’s 23rd Annual Vendor Show on Tuesday, March 28, 2017 at the InterContinental Boston Hotel. The event will address over 300 industry professionals, representing broker/dealers, investment managers, custodians, utilities and vendors. Delegates include C-Suite and senior executives at ISITC’s member firms with a wide variety of business and operational roles.