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 2024 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
- 28 November
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- 26 September
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Agenda
Summary
List of participantsItem 2: The future of the market infrastructures – Euronext perspective
Item 3: A Perspective on Triparty Operations
Item 5: AI outreach - 20 June
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Agenda
Summary
List of participantsItem 2: Modern Operations in EIB
Item 3a: FX Settlement Risk
Item 3b: Settlement T+1 - 21 March
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Agenda
Summary
List of participantsItem 2: Cybersecurity in Finance
Item 3: Cyber Security - Cyber Ops and Stress Testing
Item 4: New technologies for wholesale central bank money settlement
- 30 November
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Agenda
Summary
List of participantsItem 2: Industry update from SWIFT - FX, Payments and Securities
Item 3a: Nordea-Managing change in Operations (Nordea)
Item 3b: Managing change in Operations (ESM)
Item 4: EU Issuances and European Issuances Service
Item 5 FX Global Code - 28 September
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Agenda
Summary
List of participants - 20 June
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Agenda
Summary
List of participants
Item 2: T+1 Overview
Item 3: T+1 Settlement cycle
Item 5: Concrete usage of RPA in operational activities
Item 6: ECMS
- 23 March
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Agenda
Summary
List of participants
Item 2: Cross-border payments roadmap: Overview, progress and next steps
Item 3: Digital euro - a work in progress
Item 4: Confirmation and settlement practices
Item 5: CSDR Refit
Item 6: An update on the launch of the TARGET servicies platform
- 1 December
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Agenda
Summary
List of participantsItem 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 participantsItem 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 participantsItem 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 participantsItem 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
- 8 December
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Agenda
Summary
List of participantsItem 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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AgendaSummaryList of participants
Item 2: ICMA presentation on FinTech and RegulationItem 3: Update on the review of the European Master Agreement (EMA) - ECBItem 4: Central Securities Depositories Regulation - Crédit AgricoleItem 5: Obstacles preventing greater automation and efficiency in the confirmations and payments area - UBS - 23 June
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AgendaSummaryList of participants
Item 2: The Future of Global Custody - Northern TrustItem 3: BBVA Strategy on Bitcoin, crypto, DLT and digital currencies - BBVAItem 4: HR challenges in back office operations - CommerzbankItem 5 (a): Banking Operations: Sustainability, Covid and the New Normal - AIBItem 5 (b): One year with COVID-19 - Belfius - 17 March
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AgendaSummaryList of participants
Item 2: Digital EuroItem 3: Digital currency and digitalisation FX global marketsItem 4: FX execution algorithms and market functioningItem 5: Main elements and purposes of the ISDA IBOR Fallbacks Protocol
- 17 December
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AgendaSummaryList of participants
Item 2.1 T2/T2S consolidation projectItem 2.2 T2/T2S consolidation from a market perspectiveItem 2.3 TARGET2 incident on 23 October 2020Item 3 Current regulatory issues Item 6 Digital transformation at Clearstream - 2 September
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AgendaSummaryList of participants
Item 2: Perspectives from SWIFT on Cyber SecurityItem 4: Fintech solutions in operations - 10 June
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Agenda
Summary
List of participantsItem 2: Operations Resilience - Citi
Preparing for Securities Financing Transactions Regulation (SFTR) - Crédit Agricole
- 25 March
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Agenda
Summary
List of participantsItem 2 (a): Collateral Management for OTC Derivatives - Belfius
Item 2 (b): Eurosystem Collateral Management System
- 5 December
- AgendaSummaryList of participantsItem 1: Euroclear StrategyItem 2 (a): AIB Treasury TransformationItem 2 (b): BBVA Back-Office systemItem 3 (a): ISDA Benchmarks Supplement and Protocol highlightsItem 3 (b): EONIA RecalibrationItem 4: Update on the EMA
- 4 September
- AgendaSummaryList of participantsItem 1: Developments in CLS technologyItem 2: DLT/Blockchain initiatives at a major market playerItem 3: The COBAM initiative – Banco SantanderItem 4: Follow-up on the feedback surveys on the working of the OMGItem 5a: Implementation of risk-free reference rates – update from the ECBItem 5b: Implementation of risk-free reference rates – update from Citigroup
- 3 June
- AgendaSummaryList of participantsItem 1: Update on SWIFTItem 2(a): The European Master Agreement - views of Crédit Agricole CIBItem 2(b): The European Master Agreement - views of Belfius BankItem 3: Confirmation and settlement at a major market playerItem 5: The introduction of euro-risk free rates - update on operational implications
- 6 March
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Item 2: Annual Statistical Report on EU Derivatives MarketsItem 3: Update on Brexit preparations
AgendaSummaryList of participantsItem 4(a): Introduction of euro-risk free rates, operational implicationsItem 4(b): Introduction of euro-risk free rates, operational implicationsItem 5: Introduction of initial margin requirements for non-centrally cleared derivatives
- 4 December
- AgendaSummaryList of participantsItem 1: Supply utilitiesItem 2: Preparing for BrexitItem 4(a): Operational regulatory dialogueItem 4(b): Operational regulatory dialogue
- 20 September
- AgendaSummaryList of participantsItem 3: Blockchain and applicationsItem 4: Blockchain and impacts on reconciliation processes
- 5 June
- AgendaSummaryList of participantsItem 3: ESRB Work on EMIR data
- 8 March
- AgendaSummaryList of participantsItem 2: Update on cyber riskItem 3: Insights into intelligent automation
- 12 December
- AgendaSummaryList of participants Item 2: STELLA ProjectItem 3 : MiFID II implementation state of playItem 5: Smart contracts from a legal perspective
- 5 October
- AgendaSummaryItem 2: Regulatory technologiesItem 4: Payment protocols
- 22 June
- AgendaSummaryItem 2: MiFID II impact for the FX marketItem 3: The Enterprise Ethereum initative and technological developmentsItem 6: Update on the FX Global Code
- 9 March
- AgendaSummaryItem 3: Update on SWIFTItem 4: Digital technology developmentsItem 6: Update on the FX Global Code of Conduct
- 5 November
- AgendaSummaryLatest regulatory developmentsKey financial market developments
- 12 June
- AgendaSummaryKey financial market developmentsFinancial transaction taxMargin requirements for OTCD
- 6 March
- AgendaSummaryRecent key financial market developmentsOTC derivatives: latest regulatory developments in the US and the EU
- 18 October
- AgendaSummaryRecent key financial market developmentsOTC derivatives: latest regulatory developments in the US and the EUT2S: status update and next steps
- 22 May
- AgendaSummary
- 1 March
- AgendaSummaryRecent key financial market developmentsOTC derivatives: latest regulatory developments in the US and the EU
- 8 October
- AgendaSummaryOMG Presentation Market developmentsOMG presenation - T2S status updateOMG Presentation Intermediate reports SSI task force
- 6 May
- AgendaSummaryTasks, systems and crisis impact on operativityUpdate on work on SSIsItalian Leader of European Scale
- 12 February
- AgendaSummaryACI operations certificateLehman Report
- 10 November
- AgendaSummaryResponse to financial market turmoilT2S settlement in cb moneyRecent Trends in the e-FX spaceConfirmations Working Group
- 20 May
- AgendaSummaryEnabling the efficient communityForeign Exchange ProgrammeThe organisation of activities in a commercial bank
- 13 February
- AgendaSummaryCLS updateStandard settlement instructions input for OMG’s SSI task force
- 7 November
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Agenda Summary BCP Task Force Task Force on confirmations - progress report
- 29 May
- AgendaSummary
- 6 March
- AgendaSummary
