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The success of ISO 20022 – Universal financial Industry message scheme. ISO 20022. ISO 20022 The ISO recipe for all financial messages. ISO 20022 - Universal financial industry message scheme, the recipe: syntax neutral business modelling methodology syntax specific design rules

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Iso 20022

The success of ISO 20022 –

Universal financial Industry

message scheme

ISO 20022

ISO_20022_SV_v77


Iso 20022 the iso recipe for all financial messages

ISO 20022The ISO recipe for all financial messages

ISO 20022 - Universal financial industry message scheme, the recipe:

  • syntax neutral business modelling methodology

  • syntax specific design rules

  • industry led development/registration process

  • financial repository on www.iso20022.org

  • reverse engineering approach to ease coexistence

ISO_20022_SV_v77


Why iso 20022 supports convergence and co existence

ISO 15022

IFX

TWIST

Message

model

MDDL

FpML

FIX

Why ISO 20022?Supports convergence and co-existence

ISO 15022

IFX

TWIST

Message

model

MDDL

FpML

FIX

Long term we want one standard,

but in the interim several standards need to co-exist…

ISO_20022_SV_v77


Why iso 20022 convergence in the cooperative space

Bank A

Bank B

Why ISO 20022?Convergence in the cooperative space

Cooperative Space

Competitive

Space

Competitive

Space

High Value Payments:

RTGS, EURO1 and CHIPS

Financial

Institutions

Financial

Institutions

FX and Money Markets:

Rule Books, CLS

Public

Admini-

strators

Commercial Payments:

Rule Books, Clearing Houses,

Processors

Public

Admini-

strators

Cards:

Rule Books, Card Schemes,

Cards Processors

Corporates

Corporates

Tradefacilitation:

ICC Rule Books, e-invoicing

SME’s

SME’s

Cash:

NCB rules, Industry Standards

Merchants

Merchants

Securities:

Rule Books, Exchanges, CCP’s

CSD’s, Standardisation

Consumers

Consumers

Certification & Networks:

SWIFT

Cooperative space for business rules

Cooperative space for standards

ISO_20022_SV_v77


The iso 20022 recipe for whom potential users and developers

The ISO 20022 recipe - For whom?Potential users and developers

  • communities of users looking for interoperability and more cost-effective communications

  • Message development organisations: BIAN, CBI Consortium, FPL, FpML, IFX Forum, TWIST, SWIFT, OAGi, ACORD, XBRL, EPASOrg, Berlin Group, ANBIMA, ASF, etc.

  • Market Infrastructures (MIs): DTCC, FED, China UnionPay, EBA, Target, CLS, Euroclear, Clearstream, Omgeo, T2S, NBB, etc.

  • International or national standards setters: ISITC, ISO WGs, UN/CEFACT, EPC, BIAN, UK Payments Council,FFI, etc.

There are also catalysts for interoperability and convergence, such as SEPA, T2S, Giovannini,MiFID, e-Invoicing

ISO_20022_SV_v77


Iso 20022 the registration bodies

ISO 20022 The registration bodies

  • Registration Management Group - RMG

    (Overall governance)

    • 61 senior managers from 20 countries and 9 international organisations

  • Standards Evaluation Groups – SEGs

    (User representatives)

    • Securities (57 experts, 15 countries, 7 organisations)

    • Payments (60 experts, 17 countries, 5 organisations)

    • Cards and related retail financial services (30 experts, 14 countries, 3 organisations)

    • Trade Services (29 experts, 13 countries, 1 organisation)

    • Forex (25 experts, 9 countries, 3 organisations)

  • Technical Support Group – TSG

    (ISO 20022 technical advisors)

    • 25 experts from 11 countries and 5 international organisations

  • Registration Authority – RA

    (Maintaining ISO 20022 repository)

ISO_20022_SV_v77


Iso 20022 the registration process

Financial organisation or standards body

Submitting organisation

Business justification

Business

justification

Project approval & allocation to a SEG

RMG

Submitting organisation

& RA

Development & provisional registration

SEG

RA

Repository

Dictionary

Catalogue

ISO 20022 The registration process

R

M

G

m

o

n

i

t

o

r

s

Candidate ISO 20022 messages

Business validation

ISO 20022 messages

Official registration

and publication

www.iso20022.org

Optional pilot testing

or first implementers

Submitter

& users

ISO_20022_SV_v77


The iso 20022 recipe is used 1 11 payments

The ISO 20022 recipe is used! (1/11)Payments

Credit Transfers / Direct Debits / Mandates

Financial

Investigations

Exceptions & Investigations

Change/Verify Account Identification

Creditor Payment Activation Request

Debtor’s

bank

Authorities

Creditor’s

bank

Cash Management

Account Switching

Account Switching

ISO 20022

Exceptions & Investigations

Bank Account Management

Creditor Payment Activation Request

Change/Verify Account Identification

Advice & Statement

Notification to Receive

Extended Remittance Advice

Account Reporting Request

Mandates

Creditor Payment Activation Request

Exceptions & Investigations

Advice & Statement

Credit Transfer Initiation

Direct Debit Initiation

Candidate ISO 20022 (in development)

Extended Remittance Advice

Bank Services Billing

Bank Services Billing

Debtor

Creditor

ISO_20022_SV_v77


The iso 20022 recipe is used 2 11 payments message portfolio is growing

62 ISO 20022 messages approved:

Customer payment initiation

Interbank payment clearing and settlement

Payments exceptions & investigations

Bank-to-customer cash management

Mandates

Change/verify account identification

Bank account management

Creditor payment activation request

Cash account reporting request & notification messages

Bank services billing

Authorities financial investigations

Candidate ISO 20022 messages under evaluation

Stand-alone remittance advice messages

Candidate ISO 20022 messages approved for development:

Cash management

Cash lodgement and withdrawal

Real time payments

Account switching

The ISO 20022 recipe is used! (2/11)Payments message portfolio is growing!

ISO_20022_SV_v77


The iso 20022 recipe is used 3 11 card message portfolio is growing

The ISO 20022 recipe is used! (3/11)Card message portfolio is growing

Authorisation (ATICA)

Issuer

Acquirer

ATMI transaction authorisation

POI Terminal Management (CAPE)

ATM terminal Management

POI transaction authorisation (CAPE)

ISO 20022

Candidate ISO 20022 (in development)

Acceptor

Sale Management (CAPE)

ISO_20022_SV_v77


The iso 20022 recipe is used 4 11 cards and related retail financial services

19 ISO 20022 messages approved:

Cardpayments exchanges (CAPE) – Acceptor to Acquirer and Terminal Management

Candidate ISO 20022 messages approved for development:

ATM interface for transaction processing and ATM management

Acquirer to issuercard messages (ATICA)

CardPayments Exchanges (CAPE) - Sale-to-POI management

Dispute Resolution in Cards Fee Collection

New developmentproposal:

None

The ISO 20022 recipe is used! (4/11)Cards and related retail financial services

ISO_20022_SV_v77


The iso 20022 recipe is used 5 11 securities equities and fixed income

The ISO 20022 recipe is used! (5/11)Securities - equities and fixed income

Seller

Buyer

Pre-trade / Trade (FIX/SWIFT)

Post-Trade (Omgeo/SWIFT)

CCP Clearing (FPL/SWIFT)

Regulators

Transaction Regulatory Reporting (SWIFT)

Corporate

Actions

(SWIFT)

Settlement

(SWIFT)

Settlement

(SWIFT)

Corporate

Actions

(SWIFT)

ISO 20022

Reconciliation

TPV Statement

(ISITC/SWIFT)

Candidate ISO 20022 (in development)

Reconciliation

(SWIFT)

ISO 15022

I/CSD

Settlement & Reconciliation (SWIFT)

Settlement & Reconciliation (SWIFT)

Custodian

Clearing

agent

Issuers’ Agent Communication

(Euroclear)

Corporate

Actions

(SWIFT)

Issuers’ Agent

ISO_20022_SV_v77


The iso 20022 recipe is used 6 11 securities investment funds civ

The ISO 20022 recipe is used! (6/11)Securities - investment funds (CIV)

Old plan manager

PEP/ISA/Portfolio Transfers

Fund

accountant

New plan manager

Price Report

Order & Confirmation & Status

Alternative Funds Order, Confirm & Status

Transfer

agent

Transfer & Confirmation & Status

Institutional

investor

Statements

Account Management

Fund Cash Forecast Report

Request for Fund Report

Prospectus or FPP report user, e.g. Fund distributor

FPP Report

Fund Prospectus

Investment

manager

Prospectus or FPP report provider, e.g. Fund manager

ISO 20022

Candidate ISO 20022 (in development)

ISO_20022_SV_v77


The iso 20022 recipe is used 7 11 securities message portfolio is growing

The ISO 20022 recipe is used! (7/11)Securities message portfolio is growing!

  • 155 ISO 20022 messages approved and published:

    • Investment funds distribution

    • Securities transaction regulatory reporting

    • Proxy voting

    • Issuers’ agents communication

    • Fund processing passport report

    • Securities settlement and reconciliation

    • Securities corporate actions

    • Securities post-trade

    • Total portfolio valuation report

  • Candidate ISO 20022 messages under evaluation:

    • Securities pre-trade/trade

    • CCP Clearing

    • Collateral management

  • Candidate ISO 20022 messages approved for development:

    • Alternative funds

    • TARGET2-Securities

    • Investment fund prospectus

    • SSI for Securities, Payments & FX

  • New development proposal:

    • Transparency of holdings

ISO_20022_SV_v77


The iso 20022 recipe is used 8 11 forex

FX order

Interest rate swaps

Foreign exchange and currency options

Loans and deposits

The ISO 20022 recipe is used! (8/11)Forex

Ordering

party

ISO 20022

MTs

FpML CUG (Trade Notifications)

Trading

party

Trading

party

FX & Loan/Deposit Advice & Allocations

NDF Opening and Valuation Notifications and

Foreign Exchange Option Premium Notifications

Settlement

party

custodian

NDF and Foreign Exchange Option Notifications

NDF and Foreign Exchange Option Notifications

Central Settlement System

ISO_20022_SV_v77


The iso 20022 recipe is used 9 11 fx message portfolio is growing

The ISO 20022 recipe is used! (9/11)FX message portfolio is growing!

  • 15 ISO 20022 messages approved and published:

    • Forex notifications

  • Candidate ISO 20022 messages under evaluation:

    • none

  • Candidate ISO 20022 messages approved for development:

    • Post Trade FX messages

  • New development proposals:

    • none

ISO_20022_SV_v77


The iso 20022 recipe is used 10 11 trade services

TSU

The ISO 20022 recipe is used! (10/11)Trade Services

Buyer’s

bank

Seller’s

bank

Financial Invoice

Trade Services

Management

Trade Services

Management

Invoice Tax Report

ISO 20022

Candidate ISO 20022

(in development)

Financial Invoice

Invoice Financing Request

Factoring Services

Factoring Services

Financial Invoice

Tax

Authority

Invoice Tax Report

Financial Invoice

Seller

Buyer

ISO_20022_SV_v77


The iso 20022 recipe is used 11 11 trade message portfolio is growing

The ISO 20022 recipe is used! (11/11)Trade message portfolio is growing!

  • 74 ISO 20022 messages approved:

    • Invoice financing request

    • Trade services management

    • Financial invoice

    • Demand guarantees and standby letters of credit

  • Candidate ISO 20022 messages under evaluation:

    • None

  • Candidate ISO 20022 messages approved for development:

    • Factoring services

    • Invoice Tax Report

  • New development proposals:

    • None

ISO_20022_SV_v77


Iso 20022

Whoisinterested by ISO 20022?

From 26 October 2012 to 25 April 2013, www.iso20022.orghad 164,000visits from 94,000 visitors from 173 countries

ISO_20022_SV_v77


Iso 20022

www.iso20022.org

uestions

&

Answers

[email protected]

ISO_20022_SV_v77


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