ECB Operations managers group (ECB OMG)
The ECB OMG provides a forum for operations managers to discuss banks’ operational and post-trade developments, in particular those connected with the regulatory reform and technological innovation. In addition, the group acts as a channel of communication to respond from a banks’ operations perspective to crisis situations that may arise in financial markets.
Terms of reference 2022 Work programmeMembers and composition
The chair is the Head of Division Financial Operations Services of the ECB.
The ECB OMG is composed of representatives of the ECB and operations managers of commercial banks from all over Europe.
The composition of the group is reviewed at the end of the calendar year. Institutions interested in joining the ECB OMG are invited to submit the application form and other relevant documentation to the ECB OMG Secretariat by the end of October of each year at the latest.
Representatives from the euro area national central banks, which have the status of observer, may follow the discussions in the group.
To further enhance the diversity of our contact group, we particularly encourage institutions to nominate female representatives.
Supporting documents
Meetings
- 30 November
- 28 September
- 22 June
- 23 March
- 1 December
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Agenda
Summary
List of participants
Item 2: Crypto assets, DLT and capital markets ICMA’s activities in the international debt capital markets
Item 3a: T2_T2S update on the impact of the postponement on the market
Item 3b: T2-T2S Consolidation Project Status Update
Item 4: Settlement Instructions - Organization Process and Axis of Improvement
Item 5: AI - Data management and reporting for compliance
Item 6: Data usage in Operations - 22 September
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Agenda
Summary
List of participants
Item 2: Digital Innovation in Capital Markets
Item 3: Foreign Exchange Operations - current themes and challenges
Item 4: The impact of New Technologies on the KYC and AML processes
Item 5: The future of post-trade processing - 23 June
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Agenda
Summary
List of participants
Item 2: SWIFT Update
Item 3: CSDR Settlement Discipline - Intesa Sanpaolo
Item 4a: Non-Financial Risk Management and Covid-19 - Belfius
Item 4b: Operational Risk Management in Treasury Operations post Covid-19 - AIB
Item 5a: Sourcing trends in operational activities - ESM
Item 5b: Sourcing trends in operational activities - KBC - 17 March
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Agenda
Summary
List of participants
Item 2: Tokenisation of cash and securities - Euroclear
Item 3: Recent developments in OTC Clearing & Settlement - BBVA
Item 5a: Data Usage - Nordea
Item 5b: Digitisation concrete utilisation of back office data - ABN AMRO - 3 March
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Summary
List of participants
- 8 December
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Agenda
Summary
List of participants
Item 2: Future focused FX settlement - CLS
Item 3: CLS, Cross Border Payments and Settlement Risk - Citi
Item 4: FX Global Code & Global Foreign Exchange Committee - ECB
Item 5a: TARGET Services incidents in 2020 and ECB response - ECB
Item 5b: T2-T2S Consolidation Status update - ECB
Item 6: Spanish Financial System Consolidation 2009/2020 - Cecabank
Item 7: Upcoming Regulatory Challenges - KBC - 29 September
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Agenda
Summary
List of participants
Item 2: ICMA presentation on FinTech and Regulation
Item 3: Update on the review of the European Master Agreement (EMA) - ECB
Item 4: Central Securities Depositories Regulation - Crédit Agricole
Item 5: Obstacles preventing greater automation and efficiency in the confirmations and payments area - UBS - 23 June
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Agenda
Summary
List of participants
Item 2: The Future of Global Custody - Northern Trust
Item 3: BBVA Strategy on Bitcoin, crypto, DLT and digital currencies - BBVA
Item 4: HR challenges in back office operations - Commerzbank
Item 5 (a): Banking Operations: Sustainability, Covid and the New Normal - AIB
Item 5 (b): One year with COVID-19 - Belfius - 17 March
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Agenda
Summary
List of participants
Item 2: Digital Euro
Item 3: Digital currency and digitalisation FX global markets
Item 4: FX execution algorithms and market functioning
Item 5: Main elements and purposes of the ISDA IBOR Fallbacks Protocol
- 17 December
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Agenda
Summary
List of participants
Item 2.1 T2/T2S consolidation project
Item 2.2 T2/T2S consolidation from a market perspective
Item 2.3 TARGET2 incident on 23 October 2020
Item 3 Current regulatory issues
Item 6 Digital transformation at Clearstream - 2 September
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Agenda
Summary
List of participants
Item 2: Perspectives from SWIFT on Cyber Security
Item 4: Fintech solutions in operations - 10 June
- Agenda
Summary
List of participants
Item 2: Operations Resilience - Citi
Preparing for Securities Financing Transactions Regulation (SFTR) - Crédit Agricole - 25 March
- Agenda
Summary
List of participants
Item 2 (a): Collateral Management for OTC Derivatives - Belfius
Item 2 (b): Eurosystem Collateral Management System
- 5 December
- Agenda Summary List of participants Item 1: Euroclear Strategy Item 2 (a): AIB Treasury Transformation Item 2 (b): BBVA Back-Office system Item 3 (a): ISDA Benchmarks Supplement and Protocol highlights Item 3 (b): EONIA Recalibration Item 4: Update on the EMA
- 4 September
- Agenda Summary List of participants Item 1: Developments in CLS technology Item 2: DLT/Blockchain initiatives at a major market player Item 3: The COBAM initiative – Banco Santander Item 4: Follow-up on the feedback surveys on the working of the OMG Item 5a: Implementation of risk-free reference rates – update from the ECB Item 5b: Implementation of risk-free reference rates – update from Citigroup
- 3 June
- Agenda Summary List of participants Item 1: Update on SWIFT Item 2(a): The European Master Agreement - views of Crédit Agricole CIB Item 2(b): The European Master Agreement - views of Belfius Bank Item 3: Confirmation and settlement at a major market player Item 5: The introduction of euro-risk free rates - update on operational implications
- 6 March
- Agenda Summary List of participants Item 2: Annual Statistical Report on EU Derivatives Markets Item 3: Update on Brexit preparations Item 4(a): Introduction of euro-risk free rates, operational implications Item 4(b): Introduction of euro-risk free rates, operational implications Item 5: Introduction of initial margin requirements for non-centrally cleared derivatives
- 4 December
- Agenda Summary List of participants Item 1: Supply utilities Item 2: Preparing for Brexit Item 4(a): Operational regulatory dialogue Item 4(b): Operational regulatory dialogue
- 20 September
- Agenda Summary List of participants Item 3: Blockchain and applications Item 4: Blockchain and impacts on reconciliation processes
- 5 June
- Agenda Summary List of participants Item 3: ESRB Work on EMIR data
- 8 March
- Agenda Summary List of participants Item 2: Update on cyber risk Item 3: Insights into intelligent automation
- 12 December
- Agenda Summary List of participants Item 2: STELLA Project Item 3 : MiFID II implementation state of play Item 5: Smart contracts from a legal perspective
- 5 October
- Agenda Summary Item 2: Regulatory technologies Item 4: Payment protocols
- 22 June
- Agenda Summary Item 2: MiFID II impact for the FX market Item 3: The Enterprise Ethereum initative and technological developments Item 6: Update on the FX Global Code
- 9 March
- Agenda Summary Item 3: Update on SWIFT Item 4: Digital technology developments Item 6: Update on the FX Global Code of Conduct
- 13 November
- Agenda Summary ABSPP and CBPP3 presentation TLTROs presentation GFXD presentation
- 26 June
- Agenda Summary ECB FX OMCG presentation
- 20 March
- Agenda Summary GFXD presentation
- 5 November
- Agenda Summary Latest regulatory developments Key financial market developments
- 12 June
- Agenda Summary Key financial market developments Financial transaction tax Margin requirements for OTCD
- 6 March
- Agenda Summary Recent key financial market developments OTC derivatives: latest regulatory developments in the US and the EU
- 18 October
- Agenda Summary Recent key financial market developments OTC derivatives: latest regulatory developments in the US and the EU T2S: status update and next steps
- 22 May
- Agenda Summary
- 1 March
- Agenda Summary Recent key financial market developments OTC derivatives: latest regulatory developments in the US and the EU
- 14 October
- Agenda Summary Best Practices Status update Recent Key Financial Market Developments
- 19 May
- Agenda
- 4 February
- Agenda Summary OMG Presentation Market developments
- 8 October
- Agenda Summary OMG Presentation Market developments OMG presenation - T2S status update OMG Presentation Intermediate reports SSI task force
- 6 May
- Agenda Summary Tasks, systems and crisis impact on operativity Update on work on SSIs Italian Leader of European Scale
- 12 February
- Agenda Summary ACI operations certificate Lehman Report
- 10 November
- Agenda Summary Response to financial market turmoil T2S settlement in cb money Recent Trends in the e-FX space Confirmations Working Group
- 20 May
- Agenda Summary Enabling the efficient community Foreign Exchange Programme The organisation of activities in a commercial bank
- 13 February
- Agenda Summary CLS update Standard settlement instructions input for OMG’s SSI task force
- 16 October
- Agenda Summary Dresdner Kleinwort Investment Bank presentation Update on the ACI Operations Certificate
- 12 June
- Agenda Summary Global Operations Managers Conference - Feedback and Follow up Summary of the results of the SWIFT contingency arrangements questionnaire
- 23 - 24 April
- 3rd Global operations managers conference, Frankfurt
- 7 February
- Agenda Summary CLS presentation Work programme 2007
- 7 November
- Agenda Summary BCP Task Force Task Force on confirmations - progress report
- 29 May
- Agenda Summary Group picture
- 6 March
- Agenda Summary