ISITC Highlights Key Accomplishments and Goals

BOSTON - May 20, 2014 - ISITC (The International Securities Association for Institutional Trade Communication), the industry trade group focused on standards in transaction processing and related communications, today released its 2013 Annual Business Report. The piece highlights key ISITC accomplishments of the past year, including the organization's work on ISO 20022 governance and the Cleared Derivatives Communications market practice, and also outlines goals for 2014, as well. Throughout 2013, ISITC continued to focus on defining U.S. market practices around settlement, reconciliation and corporate actions messages. ISITC also worked closely with other organizations including SWIFT, ISDA and AMF to address the most impactful issues confronting the financial services industry. Noteworthy accomplishments in 2013 included: Release of a new market practice for Cleared Derivatives Communications; Coordination with DTCC to implement their corporate actions transformation initiative; Continued participation in the Standards Coordination Group, alongside SWIFT, FPL, ISDA, FISD and XBRL, ahead of further updates to the Investment Roadmap; Direct participation in the governance of ISO 20022; Collaboration with AMF, ISDA and SMPG on Cash and Security Segregated Collateral Market Practice Looking ahead, some of ISITC's 2014 goals include continued education and collaboration around key regulatory initiatives including Dodd-Frank, FATCA and Financial Transaction Tax (FTT), in addition to updating and developing new, relevant market practices. Comprised of over 1,500 individuals from more than 100 member firms in the broker/dealer, global custodian, investment management, vendor and utility communities, ISITC remains dedicated to addressing the needs of its constituents and promoting the global securities industry. Over the next year, ISITC members, Industry Forums and Working Groups will work closely together to monitor regulatory changes, identify key issues and develop standards and best practices to continue to support today's rapidly changing and increasingly complex environment.