slide 1 iso_20022_sv_v45 iso 20022 the success of iso 20022 – universal financial industry message...
TRANSCRIPT
Slide 1 ISO_20022_SV_v45
ISO 20022
The success of ISO 20022 – Universal financial Industrymessage scheme
Slide 2 ISO_20022_SV_v45
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
Slide 3 ISO_20022_SV_v45
ISO 15022
MDDL
TWIST
FIX
FpML
IFX
Why ISO 20022?Supports convergence and co-existence
IFX
ISO 15022
MDDL
TWIST
FIX
FpML
Message model
Long term we want one standard, but in the interim several standards need to co-exist…
Message model
Slide 4 ISO_20022_SV_v45
Bank A Bank B
CompetitiveSpace
CompetitiveSpace
Cooperative Space
SME’s
Tradefacilitation:ICC Rule Books, e-invoicing
Cash:NCB rules, Industry Standards
Securities:Rule Books, Exchanges, CCP’s
CSD’s, Standardisation
High Value Payments:RTGS, EURO1 and CHIPS
Cards:Rule Books, Card Schemes,
Cards Processors
Certification & Networks:SWIFT
Commercial Payments:Rule Books, Clearing Houses,
Processors
Financial Institutions
Corporates
Merchants
Consumers
PublicAdmini-strators
Financial Institutions
PublicAdmini-strators
Corporates
SME’s
Merchants
Consumers
Cooperative space for business rules
Cooperative space for standards
FX and Money Markets:Rule Books, CLS
Why ISO 20022?Convergence in the cooperative space
Slide 5 ISO_20022_SV_v45
The ISO 20022 recipe - For whom?Potential users and developers communities of users looking for interoperability and
more cost-effective communications
Message development organisations: CBI Consortium, FIX, RIXML, FpML, IFX Forum, TWIST, SWIFT, RosettaNet, OAGi, ACORD, XBRL, EPASOrg, Berlin Group, ANBIMA, etc.
Market Infrastructures (MIs): DTCC, FED, EBA, Target, CLS, Euroclear, Omgeo, ECB, NBB, etc.
International or national standards setters: ISITC, ISO TC68 WGs, UN/CEFACT TBG5, OMG, EPC, UK Payments Council, etc.
There are also catalysts for interoperability and convergence, such as SEPA, T2S, Giovannini, MiFID, e-Invoicing
Slide 6 ISO_20022_SV_v45
ISO 20022 The registration bodies Registration Management Group - RMG
(Overall governance)– 72 senior managers from 22 countries and 13 international organisations
Standards Evaluation Groups – SEGs(User representatives)– Payments (53 experts,17 countries, 6 organisations)– Securities (76 experts, 20 countries, 8 organisations)– Forex (26 experts, 13 countries, 4 organisations)– Trade Services (29 experts, 14 countries, 1 organisation)– Cards and related retail financial services (30 experts, 14 countries, 4
organisations) Technical Support Group – TSG
(ISO 20022 technical advisors)– 28 experts from 11 countries and 5 international organisations
Registration Authority – RA(Maintaining ISO 20022 repository)
Slide 7 ISO_20022_SV_v45
ISO 20022 The registration process
Submitting organisation
Financial organisation or standards body
Business justification
Business justification
RMGProject approval & allocation to a SEG
Submitting organisation
& RA
Development & provisional registration
SEG Business validation
RAOfficial registrationand publication
Repository
Dictionary
CatalogueOptional pilot testingor first implementers
RMG
monitors
Submitter& users
www.iso20022.org
Candidate ISO 20022 messages
ISO 20022 messages
Slide 8 ISO_20022_SV_v45
The ISO 20022 recipe is used! (1/11)Payments
Debtor
Debtor’sfinancial
institution
Creditor’s financial institution
ISO 20022
Creditor
Cash Management
Credit Transfers / Direct Debits / Mandates
Exc
eptio
ns &
Inv
estig
atio
ns
Cre
dit
Tra
nsf
er I
nitia
tion
Exc
eptio
ns &
Inv
estig
atio
ns
Dire
ct D
ebit
Ini
tiatio
n
Candidate ISO 20022 (in development)
Adv
ice
& S
tate
men
t
Adv
ice
& S
tate
men
t
Exceptions & Investigations
Acc
ount
Rep
ortin
g R
eque
st
Not
ifica
tion
to R
ecei
ve
Cha
nge/
Ve
rify
Acc
ount
Ide
ntifi
catio
n
Man
date
s
Cre
dito
r P
aym
ent
Act
ivat
ion
Re
ques
t
Cre
dito
r P
aym
ent
Act
ivat
ion
Re
ques
t
Ban
k A
ccou
nt M
anag
emen
t
Cas
h M
ana
gem
ent
Cas
h M
ana
gem
ent
Change/Verify Account Identification
Creditor Payment Activation Request
Ban
k S
ervi
ces
Bill
ing
Ban
k S
ervi
ces
Bill
ing
Slide 9
58 ISO 20022 messages approved and published:– 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
Candidate ISO 20022 messages under evaluation: none
Candidate ISO 20022 messages approved for development:– Cash management– Cash lodgement and withdrawal – Card clearing payment messages (CCPay) – Real time payments– Bank services billing
New development proposals:– Remittance advice messages
The ISO 20022 recipe is used! (2/11)Payments message portfolio is growing!
ISO_20022_SV_v45
Slide 10
The ISO 20022 recipe is used! (3/11)Card message portfolio is growing
Acceptor
Acquirer Issuer
ISO 20022
Authorisation (ATICA)P
OI
tran
sact
ion
aut
horis
atio
n (C
AP
E)
Candidate ISO 20022 (in development)
PO
I te
rmin
al M
anag
emen
t (C
AP
E)
Sale Management (CAPE)
ISO_20022_SV_v45
AT
MI
tran
sact
ion
aut
hor
isat
ion
(IF
X)
AT
M
term
inal
Man
agem
ent
(IF
X)
Slide 11
15 ISO 20022 messages approved and published:– Card payments exchanges (CAPE) – Acceptor to Acquirer
Candidate ISO 20022 messages under evaluation:– Card Payments Exchanges (CAPE) - Terminal management
Candidate ISO 20022 messages approved for development:– ATM interface for transaction processing and ATM management (IFX)
– Acquirer to issuer card messages (ATICA)
– Card Payments Exchanges (CAPE) - Sale-to-POI management
New development proposal:– None
The ISO 20022 recipe is used! (4/11)Cards and related retail financial services
ISO_20022_SV_v45
Slide 12 ISO_20022_SV_v45
The ISO 20022 recipe is used! (5/11)Securities - equities and fixed income
Custodian
Pre-trade / Trade (FIX/SWIFT)
I/CSD
Settlement & Reconciliation
(SWIFT)
Seller
Clearingagent
Buyer
ISO 15022
ISO 20022 Candidate ISO 20022 (in development)
Issuers’ Agent
Issuers’ Agent Communication
(Euroclear)
Post-Trade (Omgeo/SWIFT) CCP Clearing (FPL/SWIFT)
Registrar
Registration Communication(Euroclear)
CorporateActions(SWIFT)
ReconciliationTPV Statement(ISITC/SWIFT)
Settlement(SWIFT)
Reconciliation(SWIFT)
Corporate
Actions(SWIFT)
Settlement(SWIFT)
CorporateActions(SWIFT)
Settlement & Reconciliation
(SWIFT)
Market Claims
(Euroclear)
Regulators
Transaction Regulatory Reporting (SWIFT)
Slide 13 ISO_20022_SV_v45
Fundaccountant
Institutional investor
Investmentmanager
Transferagent
Fund Cash Forecast Report
Price Report
Account Management
ISO 20022
Candidate ISO 20022 (in development)
New plan manager
Old plan manager
PEP/ISA/Portfolio Transfers
The ISO 20022 recipe is used! (6/11)Securities - investment funds (CIV)
Order & Confirmation & Status
Transfer & Confirmation & Status
Statements
Prospectus or FPP report provider, e.g. Fund manager
Prospectus or FPP report user, e.g. Fund distributor
Request for Fund Report
FPP Report
Alternative Funds Order, Confirm & Status
Fund Prospectus
Slide 14
145 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
Candidate ISO 20022 messages under evaluation:– Securities pre-trade/trade
Candidate ISO 20022 messages approved for development:– Total portfolio valuation statement– Securities registration and holder identification– Securities market claims and automatic transformation– Securities issuance – Triparty collateral management – Alternative funds– Securities post-trade– Settlement modification/replace and allegement response– TARGET2-Securities– CCP Clearing– Collateral management– Investment fund prospectus
New development proposal: Securities management accounting book-entry
The ISO 20022 recipe is used! (7/11)Securities message portfolio is growing!
Slide 15 ISO_20022_SV_v45
The ISO 20022 recipe is used! (8/11) Forex
FX order
Orderingparty
Settlementparty
custodian
Trading party
Trading party
FX & Loan/Deposit Advice & Allocations
Loans and deposits
Foreign exchange and currency options
Interest rate swaps
Central Settlement System
NDF and Foreign Exchange Option Notifications
NDF and Foreign Exchange Option Notifications
NDF Opening and Valuation Notifications andForeign Exchange Option Premium Notifications
MTs
FpML CUG (Trade Notifications)
ISO 20022
Slide 16 ISO_20022_SV_v45
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:– none
The ISO 20022 recipe is used! (9/11)FX message portfolio is growing!
Slide 17 ISO_20022_SV_v45
Seller’s bank
Buyer’s bank
TSU
Trade Services Management Trade Services Management
Candidate ISO 20022 (in development)
ISO 20022
Buyer Seller
Financial Invoice
Invoice Financing Request
The ISO 20022 recipe is used! (10/11)Trade Services
Financial Invoice
Financial Invoice
Financial Invoice
Slide 18 ISO_20022_SV_v45
54 ISO 20022 messages approved and published:– Invoice financing request – Trade services management
– Financial invoice
Candidate ISO 20022 messages under evaluation:– none
Candidate ISO 20022 messages approved for development:
– none
New development proposals:– Demand guarantees and standby letters of credit
The ISO 20022 recipe is used! (11/11)Trade message portfolio is growing!
Slide 19 ISO_20022_SV_v45
Continent Visits %
Europe 42,037 67.4%
Asia 9,199 14.8%
Americas 8,676 13.9%
Oceania 1,463 2.3%
Africa 971 1.6%
Who is interested by ISO 20022? Country Visits %1 France 8,269 13%2 USA 6,674 11%3 UK 6,642 11%4 Germany 5,645 9%5 Belgium 3,436 6%6 India 2,491 4%7 Finland 2,265 4%8 Netherlands 2,264 4%9 Sweden 1,996 3%10 Japan 1,934 3%11 Switzerland 1,888 3%12 Australia 1,381 2%13 Italy 1,250 2%14 Hong Kong 979 2%15 China 872 1%16 Poland 871 1%17 Canada 772 1%18 Denmark 767 1%19 Spain 757 1%20 Slovenia 707 1%21 Singapore 680 1%22 Austria 635 1%23 Brazil 632 1%24 Ireland 532 1%25 Russia 475 1% 54,814 88%
From 1 April to 30 September 2010, www.iso20022.org had over 62,000 visits from 162 countries
