Benefits for Financial Market Infrastructures
Guide your community through standards migrations
MyStandards Readiness Portal simplifies implementation and migration by providing an online standards and messaging test environment for your community.
As a market infrastructure, your first concern is to provide an efficient and secure processing environment for your user community. You frequently manage change projects across a large user base - whether that’s a standards update, a major migration project such as ISO 20022 implementation, or simply bringing new users or services on-stream.
Giving your community access to the online testing capabilities of the Readiness Portal can help reduce potential errors and delays during projects, and give your community members the support they need to manage implementations and changes smoothly.
Reduce your risk while enhancing their customer experience
Readiness Portal is fully integrated with MyStandards, so your community members can check against your specifications, or against any MT, MX or ISO 20022 standard, at any time. You can even tailor the Readiness Portal to an individual user or to your wider community’s specific testing requirements.
While market participants can test their message formats independently, Readiness Portal will provide clear and instant feedback on errors, while providing you with coverage analysis to let you monitor your community’s progress and offer help where needed.
In 2012, SGX embarked on a journey to modernise its clearing, settlement and depository systems, moving to real-time message-based communication and adopting international standards.
A faster, cost-effective path to compliance
With no software to install, no manual implementation needed, and no dependency on an IT infrastructure, testing windows, or a counterparty team, your market participants will be up and running with Readiness Portal in no time.
You can also use it to test your guidelines before making them available to the community to ensure optimal accuracy.