ISO 20022
The success of ISO 20022 –
Universal financial Industry
message scheme
ISO_20022_SV_v75
Slide 1
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
 industry led development/registration process
 financial repository on www.iso20022.org
 reverse engineering approach to ease coexistence
ISO_20022_SV_v75
Slide 2
Why ISO 20022?
Supports convergence and co-existence
ISO 15022
IFX
ISO 15022
TWIST
IFX
TWIST
Message
model
MDDL
FpML
FIX
MDDL
FpML
FIX
Long term we want one standard,
but in the interim several standards need to co-exist…
ISO_20022_SV_v75
Slide 3
Why ISO 20022?
Convergence in the cooperative space
Competitive
Space
Cooperative Space
Competitive
Space
High Value Payments:
RTGS, EURO1 and CHIPS
Financial
Institutions
Financial
Institutions
FX and Money Markets:
Rule Books, CLS
Commercial Payments:
Public
Administrators
Public
Administrators
Rule Books, Clearing Houses,
Processors
Cards:
Rule Books, Card Schemes,
Cards Processors
Corporates
Bank A
SME’s
Tradefacilitation:
ICC Rule Books, e-invoicing
Corporates
Bank B
SME’s
Cash:
NCB rules, Industry Standards
Merchants
Securities:
Merchants
Rule Books, Exchanges, CCP’s
CSD’s, Standardisation
Consumers
Certification & Networks:
Consumers
SWIFT
Cooperative space for business rules
Cooperative space for standards
ISO_20022_SV_v75
Slide 4
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_v75
Slide 5
ISO 20022
The registration bodies

Registration Management Group - RMG
(Overall governance)
– 60 senior managers from 20 countries and 9 international organisations

Standards Evaluation Groups – SEGs
(User representatives)
– Securities (57 experts, 15 countries, 7 organisations)
– Payments (61 experts, 15 countries, 5 organisations)
– Cards and related retail financial services (29 experts, 13 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 10 countries and 4 international organisations

Registration Authority – RA
(Maintaining ISO 20022 repository)
ISO_20022_SV_v75
Slide 6
ISO 20022
The registration process
R
M
G
m
o
n
i
t
o
r
s
ISO_20022_SV_v75
Submitting
organisation
Business
justification
RMG
Financial organisation or standards body
Business justification
Project approval & allocation to a SEG
Candidate ISO 20022 messages
Submitting
organisation
& RA
Development & provisional registration
SEG
Business validation
RA
Official registration
and publication
Submitter
& users
ISO 20022 messages
Optional pilot testing
or first implementers
Repository
Dictionary
www.iso20022.org
Catalogue
Slide 7
ISO_20022_SV_v75
Extended Remittance Advice
Account Reporting Request
Bank Services Billing
Debtor
ISO 20022
Candidate ISO 20022 (in development)
Extended Remittance Advice
Bank Services Billing
Notification to Receive
Creditor Payment Activation Request
Account Switching
Mandates
Cash Management
Exceptions & Investigations
Debtor’s
bank
Advice & Statement
Financial
Investigations
Direct Debit Initiation
Authorities
Creditor Payment Activation Request
Bank Account Management
Change/Verify Account Identification
Exceptions & Investigations
Advice & Statement
Credit Transfer Initiation
The ISO 20022 recipe is used! (1/11)
Payments
Credit Transfers / Direct Debits / Mandates
Exceptions & Investigations
Change/Verify Account Identification
Creditor Payment Activation Request
Creditor’s
bank
Creditor
Slide 8
The ISO 20022 recipe is used! (2/11)
Payments message portfolio is growing!

62 ISO 20022 messages approved:
–
–
–
–
–
–
–
–
–
–
–

Candidate ISO 20022 messages under evaluation
–

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
Extended remittance advice messages
Candidate ISO 20022 messages approved for development:
–
–
–
–
Cash management
Cash lodgement and withdrawal
Real time payments
Account switching
ISO_20022_SV_v75
Slide 9
The ISO 20022 recipe is used! (3/11)
Card message portfolio is growing
Authorisation (ATICA)
Issuer
Acceptor
ISO_20022_SV_v75
ATM terminal Management
ATMI transaction authorisation
POI Terminal Management (CAPE)
POI transaction authorisation (CAPE)
Acquirer
ISO 20022
Candidate ISO 20022 (in development)
Sale Management
(CAPE)
Slide 10
The ISO 20022 recipe is used! (4/11)
Cards and related retail financial services

19 ISO 20022 messages approved:
–

Candidate ISO 20022 messages approved for development:
–
–
–

Card payments exchanges (CAPE) – Acceptor to Acquirer and Terminal
Management
ATM interface for transaction processing and ATM management
Acquirer to issuer card messages (ATICA)
Card Payments Exchanges (CAPE) - Sale-to-POI management
New development proposal:
–
Dispute Resolution in Cards Fee Collection messages
ISO_20022_SV_v75
Slide 11
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
Settlement
Corporate (SWIFT)
Actions
(SWIFT)
Reconciliation
TPV Statement
(ISITC/SWIFT)
Transaction Regulatory Reporting (SWIFT)
Settlement
(SWIFT)
ISO 20022
Candidate ISO 20022
(in development)
ISO 15022
Corporate
Actions
(SWIFT)
Reconciliation
(SWIFT)
I/CSD
Custodian
Settlement &
Reconciliation
(SWIFT)
Issuers’ Agent
Corporate
Communication
Actions
(Euroclear)
(SWIFT)
Settlement &
Reconciliation
(SWIFT)
Clearing
agent
Issuers’ Agent
ISO_20022_SV_v75
Slide 12
The ISO 20022 recipe is used! (6/11)
Securities - investment funds (CIV)
Old plan
manager
PEP/ISA/Portfolio Transfers
New plan
manager
Fund
accountant
Price
Report
Order & Confirmation & Status
Alternative Funds Order, Confirm & Status
Transfer & Confirmation & Status
Institutional
investor
Statements
Account Management
Request for Fund Report
Prospectus or
FPP report
user, e.g.
Fund
distributor
FPP Report
Fund Prospectus
Prospectus or
FPP report
provider, e.g.
Fund manager
ISO_20022_SV_v75
Transfer
agent
Fund Cash
Forecast
Report
Investment
manager
ISO 20022
Candidate ISO 20022 (in development)
Slide 13
The ISO 20022 recipe is used! (7/11)
Securities message portfolio is growing!

155 ISO 20022 messages approved and published:
–
–
–
–
–
–
–
–
–

Candidate ISO 20022 messages under evaluation:
–
–
–

Securities pre-trade/trade
CCP Clearing
Collateral management
Candidate ISO 20022 messages approved for development:
–
–
–
–

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
Alternative funds
TARGET2-Securities
Investment fund prospectus
SSI for Securities, Payments & FX
New development proposal:
–
Transparency of holdings
ISO_20022_SV_v75
Slide 14
The ISO 20022 recipe is used! (8/11)
Forex
Ordering
party
ISO 20022
MTs
FpML CUG (Trade Notifications)
FX order
Interest rate swaps
Trading
party
Foreign exchange and currency options
Loans and deposits
FX & Loan/Deposit
Advice & Allocations
Settlement
party
custodian
NDF Opening and Valuation
Notifications and
Foreign Exchange Option Premium
Notifications
NDF and Foreign
Exchange Option
Notifications
Trading
party
NDF and Foreign
Exchange Option
Notifications
Central
Settlement
System
ISO_20022_SV_v75
Slide 15
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:
– none

New development proposals:
– Post Trade FX messages
ISO_20022_SV_v75
Slide 16
The ISO 20022 recipe is used! (10/11)
Trade Services
Buyer’s
bank
Seller’s
bank
ISO 20022
Candidate ISO 20022
(in development)
Financial Invoice
Invoice Financing Request
TSU
Factoring Services
Financial Invoice
Financial Invoice
Tax
Authority
Financial Invoice
Buyer
ISO_20022_SV_v75
Seller
Slide 17
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_v75
Slide 18
Who is interested by ISO 20022?
From 26 October 2012 to 25 April
2013, www.iso20022.org had
164,000 visits from 94,000 visitors
from 173 countries
26 Oct – 25 Apr
Continent
Europe
Asia
Visits
%
107,933 67.3%
23,847 14.9%
Americas
23,339 14.6%
Oceania
Africa
ISO_20022_SV_v75
2,750 1.7%
2,466 1.5%
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
Country
Visits
Germany
19,842
France
17,872
United States
15,652
United Kingdom 13,727
India
9,562
Netherlands
8,789
Belgium
6,717
Switzerland
4,853
Italy
4,716
Brazil
3,940
Spain
3,785
Sweden
2,980
Japan
2,878
Singapore
2,586
Australia
2,569
Finland
2,301
Canada
2,029
Ireland
1,941
Austria
1,933
Norway
1,742
Denmark
1,696
Russia
1,609
Slovenia
1,482
Poland
1,335
Czech Republic
1,299
Slovakia
1,270
139,105
%
12%
11%
10%
8%
6%
5%
4%
3%
3%
2%
2%
2%
2%
2%
2%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
85%
Slide 19
www.iso20022.org
uestions
&A
nswers
iso20022ra@iso20022.org
ISO_20022_SV_v75
Slide 20