Operations Briefs: Singapore Exchange Plans to Distribute Corporate Actions Data Via Swift, and more

Singapore Exchange Plans to Distribute Corporate Actions Data Via Swift, FSSCC Outlines Agenda for 2005

The Singapore Exchange (SGX) plans to deliver its corporate actions data in ISO 15022 format over the Swift network.

SGX will begin distributing the corporate-actions data on April 15. The exchange will start by sending dividends and bonus payment announcements via Swift but will add more corporate actions information such as rights issues to the service.

The London Stock Exchange began distributing corporate actions updates in ISO 15022 format over Swift last summer, and in January of 2005, the Tokyo Stock Exchange connected its Tokyo Market Information Service to SwiftNet. In addition, the Johannesburg Stock Exchange also uses Swift's network as a delivery vehicle for corporate actions data.

FSSCC Outlines Agenda for 2005

The Financial Services Coordinating Council issued an agenda identifying the five most critical issues for protecting the nation's financial infrastructure in 2005.

In the report, "Protecting the U.S. Critical Financial Infrastructure: An Agenda for 2005" -- which is available at wwww.fsscc.org -- the FSSCC said the key issues are first, strengthening the financial system's core components by implementing rigorous standards of the Interagency Sound Practices paper; second, creating a more structured and coordinated approach to testing efforts; third, promoting the industrywide standards for business continuity and resilience; fourth, by expanding the membership of the Financial Services Information Sharing and Analysis Center (FS/ISAC) and outreach and education efforts; and fifth, identifying and testing critical interdependencies between financial services and other sectors.

Affected firms are expected to complete their preparations to comply with the Interagency paper by the end of 2006, stated Donald Donahue, sector coordinator and chairman of the FSSCC, in the release. The Board of Governors of the U.S. Federal Reserve System, the Office of the Comptroller of the Currency and the U.S. Securities and Exchange Commission issued the Interagency Sound Practices paper.

Concurrent industry tests are scheduled for mid-October, coordinated by the Futures Industry Association, the Securities Industry Association and the Bond Market Association, all FSSCC members.