Corporate Actions The U.S. Corporate Actions Working Group mission is to examine business processes throughout the life cycle of a corporate action. Our goal is to define standards for the US market and examine variances with global market practice for the purpose of harmonizing corporate action messaging standards and move toward increasing automation and achieving greater STP throughout the industry. The working group recommends enhancements/modifications to the ISO corporate action message standards to ensure they meet the needs of the market. The working group is also the forum for discussing and recommending enhancements to business processes and collaborating with other industry groups in addressing new business processes within corporate actions.   Derivatives The mission of the OTC Derivatives Working Group is to work in conjunction with the AMF and other industry groups to create market practice standards around derivatives processing, focusing on trade notification, reconciliation, collateral movements, and interest payments (resets).   Industry Initiatives The Industry Initiatives Working Group is a channel for communicating updates to the ISITC membership as we engage with other organizations such as ISO, SMPG, ISDA/FpML, FIX Protocol Ltd, ISITC Europe, SWIFT and others. We also use this vehicle to discuss and agree ISITC's position whenever we are required to submit comments or vote.   Payments The mission statement of the Payments Market Practice Group is to provide market practice recommendations for implementation and use of payment messages, as related to financial instrument transactions (i.e. securities) inclusive of instruction, confirmation and status messages between investment managers, custodians and subcustodians.   Reconciliation The mission of the Market Practice - Reconciliation Working Group is to provide market practice recommendations on existing and potential issues for all messages that facilitate the cash and securities reconciliation process.   Reference Data & Standards The Reference Data Working Group advances critical discussion on issues impacting financial instrument and market participant reference data within the trade lifecycle and works with other industry groups and participants in developing and promoting market practice standards.   Securities Lending The Securities Lending Working Group's mission is to establish comprehensive market practice standards for all securities lending related activity.   Settlements The mission of the Market Practice - Settlements, Cash, and Treasury Working Group is to define best practices for the communication of settlement instruction and confirmation messages for all securities related financial instrument types; third party and bank to do foreign exchange transactions; collateral messaging and currency movements. This group will work collaboratively with other industry and ISITC working groups.