Recommendations & Market Practice Book

The International Securities Operational Market Practice Book (MPB) is issued by the two ICSDs, to describe best practices focusing on timeliness, coverage and quality of information provision and processing for international securities.

It was created in conjunction with a wide variety of market practitioners in the international securities industry, and under the auspices of ISMAG.

The MPB covers end-to-end roles and responsibilities of intermediaries, both at issuance and during a securities’ lifecycle: “Who” needs to do “What” with “Whom” and by “When”.

Amongst other recommendations, the MPB includes prescriptions for:

• Timely provision of draft, final and amended New Issues documentation, for both standalone and securities issued under Programme,
• Syndicated New Issues closing requirements for same day settlement,
• Corporate Action event notification and processing,
• Income event notifications and processing, and
• ISMAG taxonomy – set of information checklists and specific drafting recommendations.

For an overview of best practices – please refer to chapter 1.2. ISMAG Best Practices Summary