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The Securities Market Practice Group was founded in July 1998. The group is sponsored by SWIFT. The aim of the SMPG is to develop standards and market practices to ensure that straight-through-processing can be achieved in securities clearing, settlement and related rights, both at the national and international market level.
4 separate groups have been formed as part of the SMPG, each responsible for analysing market practices and determining standards:

• Trade Initiation and Confirmation,
• Settlement and Reconcilation,
• Corporate Action,
• Investment Funds,

SMPG plenary meetings take place twice a year.

As part of the SMPG, local National Market Practice Groups (NMPG) were established. The SMPG brings together 35 markets, including Poland

There are currently 2 NMPGs working in Poland:

1. The Settlement and Reconciliation NMPG PL,
2. Corporate Actions NMPG PL.

Representatives of brokers, banks and KDPW take part in the work of the groups.

The Settlement and Reconciliation NMPG PL

The mandate of the group is to create national market practice standards in the broad area of transaction clearing and settlement. In November 2005 the Group prepared and published principles for the exchange of information on classic sales and purchase transactions and the proper settlement messages for the Polish market, according to ISO 15022 messaging standards. The principles are valid in relations between KDPW participants and their clients from July next year.

Corporate Actions NMPG PLL

The mandate of the Group is to prepare national market practice guidelines for corporate actions processing. Currently, work is underway to formulate ISO 15022 compliant messages to process securities cash payments.