standards: development updates on iso20022 - stephen lindsay, swift
Post on 14-Jul-2015
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SWIFT & ISO Messaging Standards Timeline
1970 1980 1990 2000 2010 Now/Future
Proprietary MT – Payments, Cash, Treasury and Trade
ISO 7775 – Securities
ISO 15022 - Securities
ISO 20022 – All Markets
1973
1984
1999
2004
ISO 20022 is rapidly
replacing legacy
standards for
Market Infrastructures 200 initiatives Under discussion > planned > rollout > live
90 countries
Where to
find ISO
20022
adoption
details
http://www.iso20022.org/adoption.page
Download
Adoption
mApp
DTCC,
US
JASDEC,
JP
[Post-trade]
Galgo, BR
T2S,
EU
CSD,
LI
EVK,
EE
CSD,
LT
ASX,
AU
Securities
MI
SGX,
SG
JASDEC &
TSE, JP
[Corp.Act] VN
Live
CN
Live
Live
NSD,
RU
VP Lux
VP
Sec
DK
Live
KDPW
CCP,
PL
Live
Live
IN
HK
SADC ID
LCH.Clearn
et, UK
Euroclear, FI
Euroclear,
ESES
NBB-
SSS, BE
TW
KR
ISO 20022 adoption
Securities
IPFA
SEPA,EU
BR
DK
CH US – retail
division of
FRB
CPA, CA
IPFA
T2, EU
AU
Zengin,
JP
CNAPS2,
CN
IN
BOJNet,
JP
NZ
SG
CO
PE PG
CL
UK
SADC
ZA
BN
US
FI
CIPS CN
TH
ISO 20022 adoption
Payments
Live
Live
Live
Live
Live
Live
Live
ISO 20022 Payments initiatives in APAC
Implementati
on
Usage CIPS (CN)
RENTAS (MY)
Bank of Thailand
Bangko Sentral NG
Pilipinas
Bank of Korea
Bank of the Lao
PDR
State Bank of
Vietnam
NPP (AU)
HV
P
LV
P
AMBD (BN)
RBI (IN)
Zengin (JP)
Fast and Secure
(SG)
New BOJ-Net
(JP)
CNAPS2 (CN)
Pacific ATS+ (AS,
SB, TO, VU)
Hyb
rid
Discussion
Solution design • Message portfolio • Rulebooks • Data models, IGs, conversion rules
Communication
Prepare future evolution • Changing business & regulatory
requirements • Technological change
Adopt
STRATEGY DESIGN
Strategy, business case and scope discussions
Provider selection • Network & Messaging • Products & Services (eg tools,
applications, consulting)
Implementation/adoption approach & roadmap, including testing framework & coexistence planning, if any
Establish standards management framework
Establish communication & education programme
INTERNAL PREPARATION TESTING
Implement
Roll-out of ISO 20022 solution identified in the Adopt phase • Network connectivity • Messaging services • Upgrade RTGS applications & systems • Interfaces • Build on-boarding & testing environment • Build integration products & services • Install support desk for members
Project management
Provider management
Community support & training
GO LIVE OPERATE
Use
Go live support
Monitoring live operations
Support
Release management (solution & standards)
Community support & training
Communication
Provider management
For MIs, well-established methodologies support successful 20022 adoption
SWIFT’s
expertise has
benefited
many
initiatives
SEPA
T2S
T2
EURO1
STEP1
CPA
AU-NPP
BN RTGS
IN RTGS
CNAPS2
DTCC
ASX
JASDEC
A global bank’s perspective
Participation in
Market Infrastructures
2017 2016 2015 Step2
EURO1/
STEP1
Baltic CSDs
ACH CENIT (CO)
Securities
2018
& beyond
Customers
(corporates and banks)
2016 2017 2015 2018
& beyond
Payments
SWIFT Community Management Programme
Roll-out of ISO 20022
Consistent
Common platform
Implementation Support
Standards release cycle
Providing a common platform for the publication of the messages and market practices used by each MI
Promoting a common standards release cycle
aligned with existing financial industry
processes
Providing implementation support to Market Infrastructure participants including testing facilities and integration components
Promoting the use of harmonized market practice among MIs in the same business domain
Powered by
MyStandards
Market practice
MyStandards
Agreement about how global standards should be used to meet local or specific business needs and/or
regulatory requirements in order to guarantee efficient execution of a financial transaction.
> Ensure that ISO 20022-
based RTGS is
Implemented consistently
Why?
Example: High Value Payment System (HVPS) guidelines
> ‘Like-for-like’ backward
compatibility with existing
(MT) standard
How?
Formulated by
SWIFT Standards in
consultation with the
industry (PMPG,
TARGET2,
EURO1)
What?
> Formal usage guidelines
> Translation rules to/from MT
> Communication flows
> Deployment principles
> Published on MyStandards
> Documentation (PDF, XLS)
> Processable formats (XSD)
MyStandards
Community Management: Market Practice Formalization and
Harmonization
Efficient community manageme
nt
Resilient
messaging platform
Standards expertise
Unequalled
contribution
to ISO
20022 Trusted
consulting
partners for
more
ISO 20022
initiatives
globally than anyone
else
Only worldwide value-added network
designed specifically for ISO 20022
Highest standards of reliability,
availability and security
Selected as platform provider
for key ISO 20022 initiatives
in payments and securities
Forty years of community expertise Unique tools and established
processes to support
communities
Summary: SWIFT for ISO 20022
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