SEPA End-to-End Ordering-Customer Security Management Market Practices
Published on 13 July 2007
The EPC implementation guidelines are laying the foundation for a SEPA compliant implementation of the services that will be provided by Clearing and Settlement Mechanisms (End-to-End Ordering-Customer Security Management). However, as the implementation phase progresses, a series of untapped operational issues have arisen which are impacting the way the SEPA standards will be implemented.
The End-to-End Ordering-Customer Security Management Market Practices document stipulates the way various End-to-End Ordering-Customer Security Management operators have addressed these issues. It proposes a harmonised way to address the operational issues and provides complementary specifications to the EPC Implementation Guidelines.
Background information
This work stream has been initiated under the auspices of the SEPA Testing Advisory Group (STAG) with a view to avoid inconsistent implementations and interoperability issues from an end user (Euro clearing bank) point of view.
The STAG has been established by a group of major Euro clearing banks: ABN AMRO, Bank of America, Banco Bilbao Vizcaya Argentaria (BBVA), Banco Popular, Banco Santander Central Hispano, Caisse Nationale des Caisses d'Epargne, Citibank, Commerzbank, Crédit Mutuel - CIC, Deutsche Bank, Fortis, ING, JPMorgan Chase, Natixis and Group Banques Populaires, Nordea, SANPAOLOIMI, SEB, Société Générale and UBS.
Understanding the document
The End-to-End Ordering-Customer Security Management Market Practices document stipulates the way different types of End-to-End Ordering-Customer Security Management are behaving from an end user perspective. Based on an in depth consultation with End-to-End Ordering-Customer Security Management operators and financial institutions, the document represents the best market practice for SEPA migration and substantially supports the convergence of implementation which are the cornerstone for interoperability in SEPA and a target for convergence.
In order to facilitate their implementation by banks and End-to-End Ordering-Customer Security Management operators before January 08, the additional rules stipulated in the End-to-End Ordering-Customer Security Management Market Practices will be implemented on the STaQS (Simulation Testing and Qualification Service) for the Credit transfers on 11 August 2007.
Next steps
The document will be further scrutinised by the European Payments Council with a view to making it part of the EPC documents set.
Further efforts towards interoperability are being worked upon, aiming at harmonising the way files and headers declaring the files are used across various business areas and implementations.
Documentation