About MPS Standards

Providing DFMs with a consistent MI data set will help to streamline the analysis that they need to perform in respect of each platform where their model portfolios are available; and delivering a consistent way of specifying trades that – critically – avoids any need for manual re-keying. This will not only streamline those processes, but also help to manage down the associated operational risks and mitigation costs.

Investment platforms also benefit. Onboarding DFMs who are familiar with an industry-standard approach to managing model portfolios will be easier and less risky for platforms that support them. Moreover, platforms who support industry-standard portfolio management will be more attractive to DFMs, extending the reach of the platform’s proposition.

Both sides will benefit from a less risky operational model and one that is more scalable, inherently reliable and extensible across all trading partners.

Our unique approach to collaboration, refined and proven for over 30 years, delivers solutions that are specified, designed and approved by subject-matter experts from across the industry. This industry expertise is baked into our standards, giving organisations confidence that standards-based integration will be straightforward to deploy with trading partners and are fit for purpose.

Criterion Standards come in many forms:

• Standardised wording used across the industry, for example Common Transfer Declarations which are used to facilitate the transfer of pensions between providers.
• Data Standards, across a range of products and processes, which standardise the information shared between trading partners. Criterion supports over 80 different data standards across the life, pensions and investments industry.
• Technical Standards that enable the exchange of data standards using multiple technologies. From CSV files, XML Messaging to OpenAPI & JSON, Criterion Standards support the widest possible range of technologies in the market to ensure the benefits from the use of standards are available to as many organisations as possible.

• Data Standards for a number of core business reports used by DFMs to manage their models on multiple platforms.
  • Accounts newly opened or closed to models
  • Accounts with inflight trades or otherwise locked
  • AUM by adviser firm
  • Inflows and net flows
  • Model fees
  • AUM by asset
  • AUM by account
  • Holdings by account, includes;
    • Out of tolerance cash position
    • Accounts with holdings outside of tolerance
  • Asset universe (full and delta)
  • Model weightings
  • CGT position by account
• Available as CSV templates or as OpenAPI/JSON message standards.

• Data Standards for pre and post model rebalance (OpenAPI/JSON message standards).
• Data and technical standards for edit model, model rebalance and retrieve model (OpenAPI/JSON message standards).

• Standardised legal wording to manage the risks and liabilities of implementing data integration between multiple platforms, DFMs and thrid parties.
• Template legal agreement and service schedules.

We provide a range of standards artefacts, including business requirements, solutions design, example messages, standards templates, OpenAPIs, JSON message specifications etc. These are available to download from the our website for Standards licence holders.

Organisations can use these artefacts to develop their own integrations based on the Standards with multiple trading partners, who are also Standards licence holders.

We actively maintain the Standards, including the management of change requests and future enhancements coming from the standards community, through on-going governance activity.