AMI-SeCo (Advisory Group on Market Infrastructures for Securities and Collateral), with the aim of creating a harmonised and integrated environment in the EU financial markets, has established a Task Force in order to develop Standards related to a single set of rules and processes for collateral management.
In particular, as far as Monte Titoli is concerned, there are two main areas of intervention:
- Corporate Action handling, as relevant in the context of collateral management
- billing processes.
Compliance with these Standards will allow to remove the barriers to an efficient management of collateral, thanks to harmonised workflows and business processes based on a common set of data, with interoperable market infrastructures interacting among themselves and with the main stakeholders using the latest international communication standards (such as ISO 20022).
In this phase, Corporate Actions harmonisation is limited to debt instruments; planning for other instrument types is still to be defined.