ISO 20022

ISO 20022 is an ISO standard for electronic data interchange between financial institutions. It describes a metadata repository containing descriptions of messages and business processes, and a maintenance process for the repository content.

The repository contains a huge amount of financial services metadata that has been shared and standardized across the industry. The metadata is stored in UML models with a special ISO 20022 UML Profile. Underlying all of this is the ISO 20022 metamodel - a model of the models. The UML profile is the metamodel transformed into UML. The metadata is transformed into the syntax of messages used in financial networks. The first syntax supported for messages was XML Schema.

ISO 20022 is widely used in financial services. Organizations participating in ISO 20022 include: FIX Protocol Limited (Financial Information eXchange), ISDA (FpML), ISITC, Omgeo, SWIFT, and Visa.

ISO 20022 is the successor to ISO 15022; originally ISO 20022 was called ISO 15022 2nd Edition. ISO 15022 was the successor of ISO 7775.

Parts of the standard

ISO 20022 Financial Services - universal financial industry message scheme.
- Part 1: Overall Methodology and Format Specifications for Inputs and Outputs to/from the ISO 20022 Repository (has the status of International Standard), numbered as ISO 20022-1:2004
- Part 2: Roles and responsibilities of the registration bodies (has the status of International Standard), numbered as ISO 20022-2:2007
- Part 3: ISO 20022 Modeling guidelines (has the status of Technical Specification), numbered as ISO/TS 20022-3:2004
- Part 4: ISO 20022 XML design rules (has the status of Technical Specification), numbered as ISO/TS 20022-4:2004
- Part 5: ISO 20022 Reverse engineering (has the status of Technical Specification), numbered as ISO/TS 20022-5:2004
- Part 6: ISO 20022 Message Transport Characteristics (has the status of International Standard), numbered as ISO 20022-6:2009
- Part 7: ISO 20022 Registration
- Part 8: ISO 20022 ASN.1 generation

Management of the standard

The Standard is issued by ISO Technical Committee 68 (TC68), which is responsible for Financial Services in ISO.
The Standard is managed by Working Group 4 (WG4), a sub-group of TC68 whose charter is "the management of ISO 20022".
The Standard defines a Repository Management Group (RMG) Composed of senior industry experts. It is the highest registration body.
SEG Standard Evolution Group composed of industry experts in specific business domains of the financial industry
SWIFT is the Registration Authority for ISO 20022. RA is the guardian of the ISO 20022 financial repository

Adoption

A 2015 report by the United States's Federal Reserve System classified Europe having "mature adopters" of ISO 20022; India, South Africa, Japan, Singapore, and Switzerland as having "growing adopters"; and Australia, Canada, the United Kingdom, and New Zealand as having "interested adopters". The report concluded that the Federal Reserve should push for ISO 20022 adoption within the United States financial system.^[1]

References

↑ "Strategies for improving the U.S. payment system" (PDF). Federal Reserve System. 26 January 2015. Retrieved 2015-05-16.

External links

iso20022.org ISO/TC68/20022/RMG - Registration Management Group
J.P. Morgan's development & adoption of ISO 20022

ISO standards by standard number

List of ISO standards / ISO romanizations / IEC standards

1–9999	1 2 3 4 5 6 7 9 16 31 -0 -1 -2 -3 -4 -5 -6 -7 -8 -9 -10 -11 -12 -13 128 216 217 226 228 233 259 269 302 306 428 518 519 639 -1 -2 -3 -5 -6 646 690 732 764 843 898 965 1000 1004 1007 1073-1 1413 1538 1745 1989 2014 2015 2022 2047 2108 2145 2146 2240 2281 2709 2711 2788 2852 3029 3103 3166 -1 -2 -3 3297 3307 3602 3864 3901 3977 4031 4157 4217 4909 5218 5428 5775 5776 5800 5964 6166 6344 6346 6385 6425 6429 6438 6523 6709 7001 7002 7098 7185 7200 7498 7736 7810 7811 7812 7813 7816 8000 8178 8217 8571 8583 8601 8632 8652 8691 8807 8820-5 8859 -1 -2 -3 -4 -5 -6 -7 -8 -8-I -9 -10 -11 -12 -13 -14 -15 -16 8879 9000/9001 9075 9126 9293 9241 9362 9407 9506 9529 9564 9594 9660 9897 9899 9945 9984 9985 9995

10000–19999	10006 10116 10118-3 10160 10161 10165 10179 10206 10218 10303 -11 -21 -22 -28 -238 10383 10487 10585 10589 10646 10664 10746 10861 10957 10962 10967 11073 11170 11179 11404 11544 11783 11784 11785 11801 11898 11940 (-2) 11941 11941 (TR) 11992 12006 12182 12207 12234-2 13211 -1 -2 13216 13250 13399 13406-2 13407 13450 13485 13490 13567 13568 13584 13616 14000 14031 14224 14289 14396 14443 14496 -2 -3 -6 -10 -11 -12 -14 -17 -20 14644 -1 -2 -3 -4 -5 -6 -7 -8 -9 14649 14651 14698 -2 14750 14764 14882 14971 15022 15189 15288 15291 15292 15398 15408 15444 -3 15445 15438 15504 15511 15686 15693 15706 -2 15707 15897 15919 15924 15926 15926 WIP 15930 16023 16262 16612-2 16750 16949 (TS) 17024 17025 17203 17369 17799 18000 18004 18014 18245 18629 18916 19005 19011 19092 (-1 -2) 19114 19115 19125 19136 19439 19500 19501 19502 19503 19505 19506 19507 19508 19509 19510 19600 19752 19757 19770 19775-1 19794-5 19831

20000+	20000 20022 20121 21000 21047 21500 21827:2002 22000 23270 23271 23360 24517 24613 24617 24707 25178 25964 26000 26300 26324 27000 series 27000 27001:2005 27001:2013 27002 27003 27004 27005 27006 27007 27729 27799 28000 29110 29148 29199-2 29500 30170 31000 32000 38500 40500 42010 80000 -1 -2 -3 -4 -5 -6 -7 -8 -9 -10 -11 -12 -13 -14

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