ISO 20022 for Dummies

Submitted By: Swati Gupta-12609048 Neha Chopra-12609

Implementation tools and services

Implementation tools and services

Ten Great Things about ISO 20022

Ten Great Things about ISO 20022

Ten Great Things about ISO 20022

Almost Ten Things to Tell Your CIO about ISO 20022

O ISO

20022 is a methodology for defining financial messages a standard for standards, so to speak.

O Currently, 260 messages have been defined, and there

are many more on the way.

O Its not just about messages ISO 20022 provides a

common language for machines and people to exchange information about financial business.
O ISO 20022 is a business standard; its principal focus is on

the content of the dictionary, rather than the technicalities of exchanged.

Almost Ten Things to Tell Your CIO about ISO 20022

O You can use the dictionary to help translate between

messages that use different syntaxes, and to solve other kinds of problems where a shared understanding of the business is important, such as internal system integration.
O Although ISO 20022 messages are mostly exchanged in

XML, ISO 20022 doesnt depend on a specific message syntax, so if a different syntax is required to satisfy a business or technical requirement, or a new syntax emerges, ISO 20022 can accommodate it.

Almost Ten Things to Tell Your CIO about ISO 20022

O ISO 20022 adoption is gathering pace in major markets

around the world.

O ISO 20022 is an open standard that anyone can use, and

to which anyone can contribute.

Ten Useful Links for Standards Implementers

O ISO 20022 www.iso20022.org
O SWIFT www.swift.com O ISO 15022 www.iso15022.org O FIX Protocol Limited www.fixprotocol.org O Financial products Markup Language (FpML)

www.fpml.org

Ten Useful Links for Standards Implementers

O eXtensible Business Reporting Language (XBRL)

www.xbrl.org
O

Unified Modeling Language (UML) www.uml.org

O Extensible

Markup www.w3.org/XML

Language

(XML)

International Securities Association for Institutional Trade Communication (ISITC) www.isitc.org Standards Developer Kit (tools for implementers) www.swift.com/drc