ISO 20022 WG – Market Considerations and ISO 20022 Migration Approaches for Securities Paper

ISSA is delighted to publish the final paper in the series on ISO 20022. The paper addresses “Market Considerations and ISO 20022 Migration Approaches for Securities”

Over the last four years ISSA’s ISO 20022 WG has published a number of qualitative and quantitative reports on ISO 200022. The previous ISSA reports on ISO 20022 showed growing levels of industry adoption and market-driven programmes to implement ISO 20022, on either a mandatory or voluntary basis. However, to date, there has been no industry-wide appetite to adopt the new standard on a ‘big bang’ basis.

One of the quantitative reports looked to understand, in the view of the ISSA members, whether there was appetite to migrate to ISO 20022 for Securities Services. One of the recommendations from that report was there was a need to create a Best Practice Guide on what to consider prior to a migration, as well as recommendations on possible migration approaches. This paper closes that recommendation. ISSA would recommend this report is read by those contemplating and planning a market adoption of ISO 20022 for all, or any, areas of securities services for the market they operate in. The WG believes that the best approach for adoption of ISO 20022 within a market is through a consultation and therefore the report’s audience is any Securities Services participants including: market intermediaries such as Custodians and Brokers, Asset Managers, Issuers, Market Infrastructures, Third-Party Providers (such as technology providers and outsourcers) and other industry associations and Regulators.

The report can be found here.