Encompass Corporation has recently become an Associate Member of the Financial Markets Standards Board (FMSB).
This strategic alliance marks a significant step in Encompass’s commitment to enhancing operational processes within the financial markets sector.
Established following recommendations from the Bank of England’s Post-Trade Taskforce, the FMSB has been instrumental in creating practical solutions to streamline post-trade operations, a mission that Encompass is now poised to support through its expertise in digital identification and verification.
FMSB CEO Myles McGuinness commented on this partnership, stating, “We are pleased to welcome Encompass as an Associate Member of FMSB. Our Post-Trade Committee has been particularly active recently, developing practical ways to improve operational processes, with two Standards already published in Transparency Draft on Client Onboarding and the Sharing of Standardised Settlement Instructions. We look forward to drawing on the expertise at Encompass to inform this valuable, ongoing work.”
Furthermore, Henry Balani, Global Head of Industry & Regulatory Affairs at Encompass, expressed his enthusiasm about joining FMSB: “We are delighted to be joining FMSB as an Associate Member. We look forward to working with FMSB Members from across the wholesale markets and to contributing to the excellent work of the Post-Trade Committee. As a provider of digital identification and verification to firms operating in the wholesale markets, helping to establish good practices in areas like client onboarding is of the upmost importance to us.”
Encompass’s inclusion in the FMSB will enable a more comprehensive development of standards that are crucial for enhancing transparency and efficiency in the financial sector. Interested parties can access FMSB’s publications, including the Post-Trade Committee’s Transparency Draft Standards on Client Onboarding and the Sharing of Standard Settlement Instructions (SSIs).
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