Post on 13-Jan-2016
transcript
Slide 1 ISO_20022_SV_v100
ISO 20022
The success of ISO 20022 – Universal financial Industrymessage scheme
Slide 2 ISO_20022_SV_v100
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_v100
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_v100
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_v100
The ISO 20022 recipe - For whom?Potential users and developers communities of users looking for interoperability and more cost-
effective communications
Message development organisations: ACORD, ANBIMA, ASF, Berlin Group, BIAN, CBI Consortium, Early Warning Services, FPL, FpML, IFX Forum, nexo A.I.S.B.L (formerly EPASOrg), OAGi, SWIFT, Tieto, TWIST, XBRL, etc.
Market Infrastructures (MIs): China Foreign Exchange Trade System, China UnionPay, Clearstream, CLS, DTCC, EBA, ECB-Banque de France-Banco de España-Deutsche Bundesbank, Euroclear, FED, Omgeo, Target, T2S, etc.
International or national standards setters: Danish Bankers Association, EPC, Federation of Finnish Financial Services (FFI), ISITC, ISO WGs, Payments UK, Russian Corporate Market Practice Group (RUCMPG), UN/CEFACT, etc.
There are also catalysts for interoperability and convergence, such as SEPA, T2S, Giovannini, MiFID, e-Invoicing
Slide 6 ISO_20022_SV_v100
ISO 20022 The registration bodies Registration Management Group - RMG
(Overall governance)– 64 senior managers from 21 countries and 11 international organisations
Standards Evaluation Groups – SEGs(User representatives)– Securities (58 experts, 16 countries, 7 organisations)– Payments (64 experts, 18 countries, 6 organisations)– Cards and related retail financial services (34 experts, 14 countries, 5
organisations)– Trade Services (33 experts, 13 countries, 1 organisation)– Forex (24 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)
Slide 7 ISO_20022_SV_v100
ISO 20022 The registration processDevelopment 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
Users CRs Users introduce Change Requests to the RA
Submitting organisation
Submitting organisation prepares ‘Maintenance Change Request’ with each CR implementation
SEGSEG screens Change Requests (CRs)
SEG SEG approval/rejection
Submitting organisation
& RA
Development of new versions
SEGValidation of new versions
RA Registration and publication Repository
Dictionary
Catalogue
By June 1
By July 7
By August 21
By October 1
By December 1
By February 1
April-May
Timing
ISO 20022 registration process Yearly maintenance process
First implementersSubmitting organisation
& usersISO_20022_SV_v100
Slide 9 ISO_20022_SV_v100
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
Sta
nd-A
lone
Rem
ittan
ce A
dvic
e
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
Sta
nd-A
lone
Rem
ittan
ce A
dvic
e
Slide 10
64 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– Stand-alone remittance advice messages
Candidate ISO 20022 messages under evaluation– None
Candidate ISO 20022 messages approved for development:– Cash management– Account switching– Mandate Status List– Financial Institution Direct Debit– Cross Border Transaction Currency Control Reporting (CTCCR)– Payment Pre-Authorization (PaPA)
New development proposals: – None
The ISO 20022 recipe is used! (2/11)Payments message portfolio is growing!
Slide 11
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_v100
AT
MI
tran
sact
ion
aut
hor
isat
ion
AT
M
term
inal
Man
agem
ent
Slide 12
44 ISO 20022 messages approved:– Card payments exchanges (CAPE) – Acceptor to Acquirer and Terminal
Management
– ATM interface for transaction processing and ATM management
13 candidate ISO 20022 messages under evaluation– Acquirer to issuer card messages (ATICA)
Candidate ISO 20022 messages approved for development:– Card Payments Exchanges (CAPE) - Sale-to-POI management
– Dispute Resolution in Cards Fee Collection
– Payment Tokens Management Exchanges (TOKE)
The ISO 20022 recipe is used! (4/11)Cards and related retail financial services
ISO_20022_SV_v100
Slide 13 ISO_20022_SV_v100
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 14 ISO_20022_SV_v100
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
Transparency of Holdings
Slide 15
178 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– CCP Clearing– Collateral management
5 Candidate ISO 20022 messages under evaluation:– Money Market Statistical Reporting (MMSR)
Candidate ISO 20022 messages approved for development:– Alternative funds– TARGET2-Securities– SSI for Securities, Payments & FX – Transparency of holdings– S&R and CA - ISO 15022 variants
New development proposals:– Market Claims
The ISO 20022 recipe is used! (7/11)Securities message portfolio is growing!
Slide 16 ISO_20022_SV_v100
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 instruments
Interest rate swaps
Central Settlement System
Status
notifications
and payment
information
Stat
us
notif
icat
ions
and
paym
ent
info
rmat
ion
FX Spot, Forward & Swap instructionsNDF and FX Option instructions (archived)
MTs
FpML CUG (Trade Notifications)
ISO 20022
Deriv-atives
Candidate ISO 20022 (in development)
Trade capture
Trading system
Slide 17 ISO_20022_SV_v100
15 ISO 20022 messages approved and published:– Post Trade FX messages
Candidate ISO 20022 messages under evaluation:─ None
Candidate ISO 20022 messages approved for development:
– FX Post-Trade Confirmation
– FX Post-Trade Trade Capture
New development proposals– None
The ISO 20022 recipe is used! (9/11)FX message portfolio is growing!
Slide 18 ISO_20022_SV_v100
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 19 ISO_20022_SV_v100
85 ISO 20022 messages approved:
– Invoice financing request
– Trade services management
– Financial invoice
– Demand guarantees and standby letters of credit
– Factoring services Candidate ISO 20022 messages under evaluation:
– None Candidate ISO 20022 messages approved for development:
– Invoice Tax Report New development proposals:
– None
The ISO 20022 recipe is used! (11/11)Trade message portfolio is growing!
Slide 20 ISO_20022_SV_v100
From 23 March 2014 to 23 March 2015, www.iso20022.org had 427,671 visits from 260,928 visitors from 200 countries
Who is interested by ISO 20022?
23 Mar 14 – 23 Mar 15
ContinentNumber of visits
%
Europe 261,330 61.4%Asia 74,730 17.5%Americas 71,013 16.7%Oceania 10,751 2.5%Africa 8,118 1.9%
Country/Territory Sessions %1 United States 52,912 12%2 United Kingdom 38,859 9%3 France 34,461 8%4 Germany 28,058 7%5 India 27,981 7%6 Switzerland 18,681 4%7 Spain 18,033 4%8 Italy 15,414 4%9 Belgium 13,467 3%10 Sweden 12,714 3%11 Netherlands 12,631 3%12 Australia 9,619 2%13 Japan 8,112 2%14 Singapore 8,088 2%15 Canada 7,269 2%16 Finland 7,269 2%17 Russia 7,138 2%18 Poland 5,444 1%19 Norway 5,148 1%20 Brazil 5,046 1%21 China 4,775 1%22 Denmark 4,463 1%23 Austria 4,321 1%24 Hong Kong 4,199 1%25 Portugal 3,406 1%26 South Africa 3,361 1%27 Ireland 3,360 1%
85%
Slide 21 ISO_20022_SV_v100
&&uestionsAnswers
iso20022ra@iso20022.org
www.iso20022.org