Adopting ISO 20022: Connecting the dots Françoise Massin, Senior Specialist, ISO 20022

Registration Authority, Standards, SWIFT

SWIFT Standards Forum

Moscow 2013

Moscow, 11 April 2013

ISO 20022: Connecting the dots

2

ISO 20022 Why ?

ISO 20022

Who ?

ISO 20022

How ?

ISO 20022

When ?

ISO 20022: Where is it used?

4

IPFA

Live Planned

SEPA,EU

BR

DK

CH

FED, US

CPA, CA

IPFA

T2, EU

SADC AU

Zengin,

JP

CNAPS,

CN

IN

Low-

value

High-

value

CIPS, CN

BOJNet,

JP

CPA, CA Live

Live

Live

NZ

SG

Live CO

PE

ISO 20022 Adoption – Payments MI & initiatives

From discussion to implementation

Live

PG

Status overview – Payments MI

Status Planned live date

EU-SEPA Live Live – end date

2014

SG Live

IPFA Live

JP-Zengin Live

IN - RTGS Roll-out 2013 (TBC)

SADC Roll-out 2013 (TBC)

JP-BOJNet Roll-out 2015

CH Roll-out 2015-2018

AU-LVP Roll-out 2016/2017

T2 Committed 2017

CA-all payment

systems

Roll-out 2020

CNIPS Under discussion TBD 5

DTCC, US

JASDEC, JP

[Post-trade]

Euroclear

Clearstream

ANBIMA, BR

T2S, EU

CSD, LI

CSD, PL

6

CSD, EE

CSD, LT

ASX, AU

Live

Live

ISO 20022 Adoption – Securities MI & Treasury MI –

From discussion to implementation

CLS

Treasury MI Securities MI

SGX, SG

JASDEC &

TSE, JP

[Corp.Act]

VN

Live

CN

Live

BR, CSD

Live

Status overview – Securities & Treasury MI

Status Planned live

date

FR-Euroclear / Funds Live

Clearstream/Funds Live

US- DTCC/Corporate Actions Live

BR-Anbima Live

AU- ASX-Corporate Actions Roll-out Mid-2013

JP- JASDEC – Post-Trade

Services

Roll-out 2014

JP –JASDEC + TSE –

Corp. Actions

Roll-out 2014

CLS Roll-out 2014

T2S Roll-out 2015

SG- SGX/Corporate Actions Under discussion TBD

BR – BM&FBOVESPA Committed TBD

7

ISO 20022 Adoption – Funds (live traffic Jan-Oct 2012)

8

GB

CH

AU

TW

SE

FI NO

IE

ES

IT

GR

EE

BE

NL

LU

KR US FR

DE

SG

HK

BM

ISO 20022 in the corporate-to-bank space

More than

60 banks

receiving

payment initiation

messages

(over SWIFT)

Around

70 members

(corporates and banks)

defining

common global

implementation

guidelines

Who (and what) is driving ISO 20022

adoption?

• New initiatives

– Market infrastructures

– Global harmonisation & regulation (eg SEPA in Europe)

– Automation in specific markets

(eg the ‘funds’ market)

• New players

– Corporates, fund managers

• New technology

– XML, SOA, web services

10

From early adopters to ‘followers’

When to adopt ISO 20022?

Drivers:

–Harmonization

(driven by regulation or innovation)

–Renewal of legacy systems

–Further automation required

–Creation of new services

–Interoperability with

other systems/players

11

Why adopt ISO 20022

12

An international and neutral recipe to build a

common financial language

– Meaning of business processes and information >

dictionary

– Set of messages to execute end-to-end transactions >

repository

– Right syntax: XML > universally used, tools

available to facilitate implementation

Collaboration

with external

parties

Internal

integration

Standards

inter-

operability

ISO 20022 allows for more flexibility than MT to cater for

local/specific needs

• Implementation guidelines:

formal way to express market practice

• Extensions

• Right tools and services available to manage flexibility

ISO 20022 Awareness Training Live Meeting V01 13

Why adopt ISO 20022 –

a global standard to meet local needs

MT ISO 20022

How to adopt ISO 20022

Managing diverging local implementations

14

• Is a risk – but still better - Coordination

through working

group defining HVP

implementation

guidelines

- Best practice sharing

- Tools allow to harmonize MyStandards

- Mitigate risks

A risk that can be mitigated by a coordinated

approach:

– Collaboration and best practice sharing in working

groups (eg HVP implementation guidelines)

– Services to help communities migrate and

implement (roadmap/creation of guidelines/mapping/etc)

– Tools (MyStandards) to facilitate

sharing and harmonization