ISO 20022 Working Group

Scope

The Working Group has been segmented into the following three Sub-Groups. These are looking to produce output mentioned in the Milestones below. 

1. Educational Material, Business Case, Industry Best Practices
2. DLT and Digital Assets
3. Interoperability and APIs

Working Group Co-Chairs

Juliette Kennel, SWIFT
Giles Elliott, TATA Consultancy Services Limited

Milestones

Educational Material, Business Case, Industry Best Practices, Surveys 2022: 

  • Develop ISSA Industry Best Practice guide for assessing merits and business considerations for using the ISO 20022 data model.
  • Review existing educational and support materials for ISO 20022 implementation. Recommend / develop guides or other solutions that improve implementation efficiency of ISO 20022.
  • Develop Survey for Q1 2022 and issue report on core findings and material new trends.

DLT and Digital Assets

  • Market Review of Digital Asset – Instrument Reference Data (existing DLT focus)
  • Review of ISO messaging gaps for DLT and Digital Asset Processing Models
  • Develop Best Practice Principles for DLT and Digital Asset messaging

Interoperability and APIs

  • In-depth review of opportunities and viability of enhanced corporate actions, tax benefits under ISO 20022 (as a precursor to CA Group prioritisation).
  • Review and assess Scope of API opportunities and priorities for focus (across all processes/data groups).
  • Assess the range of parties / partners focused on API adoption and how ISSA can partner with these bodies or groups.
  • Assess and define core sets of standards that are a priority for industry interoperability, and groups that need to align around interoperability.
  • Recommendation paper for progressing an industry wide collaboration on interoperability.

Reports

  • Sibos Podcast (05/2021): Discussion on why ISSA wrote the ISO 20022 report, the contents of it and the next steps
  • ISO 20022 Report (04/2021) > PDF 340 kB
  • Background Reading and Context Document to explain ISO 20022 and changes from 2018 (06/2020) > PDF 420 kB

Institutions Represented by Experts in the Working Group

  • BNP Paribas Securities Services
  • BNY Mellon
  • Broadridge Financial Services
  • Brown Brothers Harriman 
  • Citibank
  • Clearstream
  • Credit Suisse Services
  • Deloitte
  • Depozitarul Central, Romania
  • Deutsche Bank
  • Euroclear
  • Fidelity Corporation Actions Solutions
  • FIS Global
  • HSBC
  • IHS Markit
  • ISSA
  • J.P. Morgan
  • Maroclear
  • National Settlement Depository, Russia
  • Nivaura Ltd.
  • SEB
  • SIX
  • Standard Chartered Bank
  • SWIFT
  • TATA Consultancy Services
  • The Stock Exchange of Thailand
  • UBS
  • VP Bank AG
  • WTax