slide 1 iso_20022_sv_v77 iso 20022 the success of iso 20022 – universal financial industry message...
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Slide 1 ISO_20022_SV_v77
ISO 20022
The success of ISO 20022 – Universal financial Industrymessage scheme
Slide 2 ISO_20022_SV_v77
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_v77
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_v77
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_v77
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
Slide 6 ISO_20022_SV_v77
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)
Slide 7 ISO_20022_SV_v77
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_v77
The ISO 20022 recipe is used! (1/11)Payments
Debtor
Debtor’s bank
Creditor’sbank
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
Ext
ende
d R
emitt
ance
Adv
ice
Ext
ende
d R
emitt
ance
Adv
ice
Change/Verify Account Identification
Creditor Payment Activation Request
Ban
k S
ervi
ces
Bill
ing
Ban
k S
ervi
ces
Bill
ing
Account Switching
Account S
witching
Authorities
Financial Investigations
Slide 9
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
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 T
erm
inal
Man
age
men
t (C
AP
E)
Sale Management (CAPE)
ISO_20022_SV_v77
AT
MI
tran
sact
ion
aut
hor
isat
ion
AT
M
term
inal
Man
agem
ent
Slide 11
19 ISO 20022 messages approved:– Card payments 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 issuer card messages (ATICA)
– Card Payments Exchanges (CAPE) - Sale-to-POI management
– Dispute Resolution in Cards Fee Collection
New development proposal:
– None
The ISO 20022 recipe is used! (4/11)Cards and related retail financial services
ISO_20022_SV_v77
Slide 12 ISO_20022_SV_v77
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)
CorporateActions(SWIFT)
ReconciliationTPV Statement(ISITC/SWIFT)
Settlement(SWIFT)
Reconciliation(SWIFT)
Corporate
Actions(SWIFT)
Settlement(SWIFT)
CorporateActions(SWIFT)
Settlement & Reconciliation
(SWIFT)
Regulators
Transaction Regulatory Reporting (SWIFT)
Slide 13 ISO_20022_SV_v77
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
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
The ISO 20022 recipe is used! (7/11)Securities message portfolio is growing!
ISO_20022_SV_v77
Slide 15 ISO_20022_SV_v77
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_v77
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
The ISO 20022 recipe is used! (9/11)FX message portfolio is growing!
Slide 17 ISO_20022_SV_v77
Seller’s bank
Buyer’s bank
TSU
Trade Services Management
Trade Services
Management
Candidate ISO 20022 (in development)
ISO 20022
Buyer Seller
Financial Invoice
Invo
ice
Fin
anci
ng R
eque
st
The ISO 20022 recipe is used! (10/11)Trade Services
Fin
anci
al
Invo
ice
Fin
anci
al
Invo
ice
Financial Invoice
Fac
tori
ng S
ervi
ces
Factoring Services
TaxAuthority
Invo
ice
Tax
Rep
ort
Invoice Tax Report
Slide 18 ISO_20022_SV_v77
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
The ISO 20022 recipe is used! (11/11)Trade message portfolio is growing!
Slide 19 ISO_20022_SV_v77
From 26 October 2012 to 25 April 2013, www.iso20022.org had 164,000 visits from 94,000 visitors from 173 countries
Who is interested by ISO 20022?
26 Oct – 25 Apr
Continent Visits %
Europe107,933 67.3%
Asia23,847 14.9%
Americas23,339 14.6%
Oceania2,750 1.7%
Africa2,466 1.5%
Country Visits %1 Germany 19,842 12%2 France 17,872 11%3 United States 15,652 10%4 United Kingdom 13,727 8%5 India 9,562 6%6 Netherlands 8,789 5%7 Belgium 6,717 4%8 Switzerland 4,853 3%9 Italy 4,716 3%
10 Brazil 3,940 2%11 Spain 3,785 2%12 Sweden 2,980 2%13 Japan 2,878 2%14 Singapore 2,586 2%15 Australia 2,569 2%16 Finland 2,301 1%17 Canada 2,029 1%18 Ireland 1,941 1%19 Austria 1,933 1%20 Norway 1,742 1%21 Denmark 1,696 1%22 Russia 1,609 1%23 Slovenia 1,482 1%24 Poland 1,335 1%25 Czech Republic 1,299 1%26 Slovakia 1,270 1%
139,105 85%
