STEP Convention


What is the STEP Market Convention?

Suppporting documents & related information
The STEP Market Convention (19 May 2015) Securities Settlement Systems

STEP relies on the STEP Market Convention

The STEP Market Convention lays down the criteria which short-term paper programmes must fulfill to be STEP compliant and the procedures for granting and withdrawing the STEP label. The STEP criteria and requirements relate to the disclosure of information, the format for documentation, settlement, and the provision of data for the production of STEP statistics.

A STEP label does not relate to the creditworthiness of issuers or the accuracy of the information provided. In order to obtain and maintain the STEP label for a short-term paper programme, the issuer, the features of the programme and the Notes issued under the programme must comply with the requirements of the Convention, including its Annexes.

The revised STEP Market Convention has been signed by European Money Markets Institute and Euribor-ACI on 19 May 2015.

STEP takes reasonable measures to ensure the quality and accuracy of the information on this Website. However, STEP cannot be held liable in any way for the inaccuracy or incompleteness of any information that is available on or through this Website. In addition, none of the Parties can in any way be held liable or responsible for the content of any Website linked to this Website.