ISO 20022-1:2004
(Main)Financial services — UNIversal Financial Industry message scheme — Part 1: Overall methodology and format specifications for inputs to and outputs from the ISO 20022 Repository
Financial services — UNIversal Financial Industry message scheme — Part 1: Overall methodology and format specifications for inputs to and outputs from the ISO 20022 Repository
ISO 20022-1:2005 consists of the overall description of the modelling approach; the overall description of the ISO 20022 Repository contents; a high-level description of the input to be accepted by the Registration Authority to feed/modify the Repository's Data Dictionary and Business Process Catalogue; a high-level description of the Repository output to be made publicly available by the Registration Authority.
Services financiers — Schéma universel de messages pour l'industrie financière — Partie 1: Méthodologie globale et spécifications pour le format de soumission et de publication du Référentiel ISO 20022
General Information
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Standards Content (Sample)
INTERNATIONAL ISO
STANDARD 20022-1
First edition
2004-12-15
Financial services — UNIversal Financial
Industry message scheme —
Part 1:
Overall methodology and format
specifications for inputs to and outputs
from the ISO 20022 Repository
Services financiers — Schéma universel de messages pour l'industrie
financière —
Partie 1: Méthodologie globale et spécifications pour le format de
soumission et de publication du Référentiel ISO 20022
Reference number
ISO 20022-1:2004(E)
©
ISO 2004
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ISO 20022-1:2004(E)
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ii © ISO 2004 – All rights reserved
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ISO 20022-1:2004(E)
Contents Page
Foreword. iv
Introduction . v
1 Scope. 1
2 Normative references. 1
3 Terms and definitions. 2
4 Methodology for the development of ISO 20022 compliant Business Transactions and
Message Sets. 10
4.1 Overview. 10
4.2 Business Analysis. 10
4.3 Requirements Analysis. 11
4.4 Logical Analysis. 11
4.5 Logical Design. 12
4.6 Technical Design. 12
4.7 Reverse Engineering. 12
5 Repository contents. 13
5.1 ISO 20022 Repository structure . 13
5.2 Data Dictionary. 14
5.2.1 Overview. 14
5.2.2 List of Dictionary Items . 14
5.2.3 Dictionary Item Registration Status . 16
5.2.4 Dictionary Items Description Information . 16
5.2.5 Data Dictionary life cycle. 17
5.3 Business Process Catalogue. 17
5.3.1 Overview. 17
5.3.2 List of Catalogue Items. 17
5.3.3 Catalogue Item Registration Status . 18
5.3.4 Catalogue Item description information. 18
5.3.5 Business Process Catalogue life cycle . 18
5.4 Character sets, naming conventions, languages . 19
6 Repository input. 19
6.1 General. 19
6.2 Submission request types . 20
6.3 Submission format. 20
6.4 Submission media. 20
7 Repository output. 20
7.1 General. 20
7.2 Repository output types. 21
7.3 Output format. 21
8 Evolution of ISO 20022 . 21
8.1 Relation with ISO 15022. 21
8.2 Future evolution of ISO 20022 . 22
8.2.1 The documents. 22
8.2.2 The syntax. 22
Bibliography . 23
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ISO 20022-1:2004(E)
Foreword
ISO (the International Organization for Standardization) is a worldwide federation of national standards bodies
(ISO member bodies). The work of preparing International Standards is normally carried out through
ISO technical committees. Each member body interested in a subject for which a technical committee has
been established has the right to be represented on that committee. International organizations, governmental
and non-governmental, in liaison with ISO, also take part in the work. ISO collaborates closely with the
International Electrotechnical Commission (IEC) on all matters of electrotechnical standardization.
International Standards are drafted in accordance with the rules given in the ISO/IEC Directives, Part 2.
The main task of technical committees is to prepare International Standards. Draft International Standards
adopted by the technical committees are circulated to the member bodies for voting. Publication as an
International Standard requires approval by at least 75 % of the member bodies casting a vote.
Attention is drawn to the possibility that some of the elements of this document may be the subject of patent
rights. ISO shall not be held responsible for identifying any or all such patent rights.
ISO 20022-1 was prepared by Technical Committee ISO/TC 68, Financial services.
ISO 20022 consists of the following parts, under the general title Financial services — UNIversal Financial
Industry message scheme:
Part 1: Overall methodology and format specifications for inputs to and outputs from the ISO 20022
Repository
Part 2: Roles and responsibilities of the registration bodies
Part 3: ISO 20022 modelling guidelines [Technical Specification]
Part 4: ISO 20022 XML design rules [Technical Specification]
Part 5: ISO 20022 reverse engineering [Technical Specification]
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ISO 20022-1:2004(E)
Introduction
In the mid-1990s, it was felt strongly that the International Standard for communication between securities
industry participants required an urgent review aiming at (1) reducing the time taken to deliver new
standardized Message Sets to the market place and (2) improving “straight through processing” capabilities.
ISO 15022 set the principles necessary to provide the different communities of users with the tools to design
Message Definitions to support their specific information flows. These tools consisted of
a set of syntax and message design rules;
a Data Field Dictionary uniquely identifying Business Elements to be communicated and their technical
representation;
a Catalogue of Messages built by the industry with the above-mentioned fields and rules.
To address the evolving needs of the industry as they emerge, the Data Field Dictionary and the Catalogue of
Messages had been kept outside ISO 15022 though maintained according to it. They were made available by
a Registration Authority, which updated them as necessary upon the request of industry participants.
The early 2000s saw the widespread growth of IP (Internet Protocol) networking and the emergence of XML
(eXtensible Mark-up Language) as the de facto open technical standard for electronic communications. It was
felt that ISO 15022 needed to be extended to offer the whole financial industry a common platform for the
development of messages in a standardized XML syntax. At the same time, to shield the platform from further
syntax changes, it was felt necessary to better split messaging into its business dimension, on one hand, and
its technical representation, on the other hand. Therefore, while capitalizing on the original ISO 15022 tool set,
ISO 20022 proposes
to use a modelling methodology (e.g. based on formal notation such as UML – Unified Modelling
Language) to capture, analyse and describe in a syntax-independent way the Business Areas, Business
Processes, Business Transactions, Business Actors, Business Roles, Business Information and
associated Message Flow Diagrams and Message Definitions which allow the industry to exchange the
information required to achieve its business objectives;
to define the design rules to be used to convert Message Definitions described in a modelling notation
into a standardized syntax representation. At the moment of the publication of ISO 20022 the preferred
syntax for all electronic documents (including the subset of electronic STP-messages) is XML [as defined
by the World Wide Web Consortium (W3C)]. On request of the financial industry, the design rules can
later be extended to cover other future open syntaxes.
Under this approach, which is in line with the messaging developments undertaken by other industries, the
complete models and the derived syntax output are stored in a central Repository (the ISO 20022 Repository),
serviced by the Registration Authority. The ISO 20022 Repository offers industry participants access to the
following.
A financial Business Process Catalogue, containing
the description of the financial Business Model;
the description of financial Business Transactions, including Message Definitions;
the Message Schemes represented in an agreed syntax (such as ISO 20022 XML).
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ISO 20022-1:2004(E)
A financial Data Dictionary, containing
Business Concepts, Data Types and Message Concepts used in Business Areas, Business
Processes, Business Transactions and Message Sets.
It is expected that this flexible framework will allow communities of users to build Business Transactions and
Message Sets according to an internationally agreed approach and to migrate to the use of a common syntax
(such as ISO 20022 XML). If the existing set of Business Transactions and Message Definitions stored in the
ISO 20022 Repository does not address their requirements, the communities of users can agree on the use of
other Business Transactions and Message Definitions and design them from the items registered in the Data
Dictionary. They can submit these Business Transactions and Message Definitions to the Registration
Authority. The Registration Authority, with the support of Standards Management Groups, will validate the
requests and update the ISO 20022 Repository as necessary and generate the corresponding ISO 20022
syntax output using the agreed ISO 20022 Syntax Design Rules for XML or for other future open syntaxes.
Agreement of common financial Business Models and Message Definitions, which address the business
requirements of the communities of users and include a common syntax solution (such as ISO 20022 XML),
facilitates end-to-end straight through processing. Furthermore, the agreed Business Models and Message
Definitions serve as a reference to migrate to an agreed ISO 20022 syntax (such as ISO 20022 XML). Indeed,
communities using another syntax may link the content of their Industry Message Sets to items already
existing in the ISO 20022 Repository. The relation between these items could be provided to the communities
of users as “Convergence Documentation”. It is expected that this new, dual split of business standard and
technical standard will facilitate the convergence and the development of any required conversion
mechanisms.
ISO 20022 contains
the overall description of the modelling approach (Part 1);
the overall description of the ISO 20022 Repository contents (Part 1);
a high-level description of the input to be accepted by the Registration Authority to feed/modify the
Repository’s Data Dictionary and Business Process Catalogue (Part 1);
a high-level description of the Repository output to be made publicly available by the Registration
Authority (Part 1);
the responsibilities, service levels and procedures for the Registration Bodies, including the role of
Standards Management Groups and the supervision by a Registration Management Group and ISO
(Part 2);
the detailed modelling guidelines to be used to construct ISO 20022 compliant Business Transactions
and Message Sets (Part 3);
the syntax design rules applied by the ISO 20022 Registration Authority to translate an ISO 20022
compliant Message Definition into an ISO 20022 syntax solution. The actual document shall specify a
particular syntax such as “XML Design Rules” for the production of ISO 20022 XML Message Schemes
and ISO 20022 XML Message instances (Part 4).
NOTE The Syntax Message Schemes published by the Registration Authority for the Message Definitions registered
into the ISO 20022 Business Process Catalogue constitutes the reference against which Syntax Message Schemes
generated by proprietary implementations of the ISO 20022 syntax design rules can be compared in order to validate the
compliance of those implementations with the design rules.
the reverse engineering guidelines explaining how to extract relevant information from existing Industry
Message Sets in order to prepare the submission to the ISO 20022 Registration Authority of equivalent
ISO 20022 compliant Business Transactions and Message Sets (Part 5).
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ISO 20022-1:2004(E)
The ISO 20022 Registration Authority keeps a set of Submission Templates to the Data Dictionary and
Business Process Catalogue available outside of ISO 20022. These templates are to be used when
submitting requests to the Registration Authority for inclusion into the ISO 20022 Repository.
NOTE Even though ISO 20022 deals with the standardization of the communication between financial industry
players, it should be clear that it does not deal directly with any of the seven layers of the ISO Open Systems Interconnect
model (OSI model). In fact, one could state that ISO 20022 starts where the OSI-model ends, i.e. ISO 20022 standardizes
the content of the “file” (i.e. the message content) that is transported in the OSI Application Layer. The standardization of
the message content deals itself with two separate layers: the “syntax layer”, i.e. the standardization of the physical
representation of the information that is transported, which deals with aspects related to the use of XML, Enhanced 7775,
EDIFACT or other syntaxes; and the “semantic layer”, i.e. the standardization of the meaning of the information that is
transported. Although these layers were already covered in ISO 15022, ISO 20022 makes the standardization of these
layers more formal and makes the separation between both layers more explicit and complete. The introduction of this
formal approach improves (1) the interoperability and convergence across existing Industry Message Sets, (2) the
re-usability across business domains and market practices and (3) the stability of the standardized Business Transactions
and Message Sets. Another important factor in ISO 20022 is the introduction of open syntaxes, such as XML, which
removes the necessity to describe the technical specification of a particular syntax (such as Enhanced 7775 in ISO 15022).
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INTERNATIONAL STANDARD ISO 20022-1:2004(E)
Financial services — UNIversal Financial Industry message
scheme —
Part 1:
Overall methodology and format specifications for inputs to
and outputs from the ISO 20022 Repository
1 Scope
This part of ISO 20022 consists of
the overall description of the modelling approach;
the overall description of the ISO 20022 Repository contents;
a high-level description of the input to be accepted by the Registration Authority to feed/modify the
Repository’s Data Dictionary and Business Process Catalogue;
a high-level description of the Repository output to be made publicly available by the Registration
Authority.
ISO 20022 compliant Business Transactions and Message Sets can be used for electronic data interchange
amongst any industry participants (financial and others), independently of any specific communication network.
Network dependent rules, like message acknowledgement and message protection are outside the scope of
ISO 20022.
2 Normative references
The following referenced documents are indispensable for the application of this document. For dated
references, only the edition cited applies. For undated references, the latest edition of the referenced
document (including any amendments) applies.
ISO 15022-1:1999, Securities — Scheme for messages (Data Field Dictionary) — Part 1: Data field and
message design rules and guidelines
ISO 15022-2:1999, Securities — Scheme for messages (Data Field Dictionary) — Part 2: Maintenance of the
Data Field Dictionary and Catalogue of Messages
ISO 20022-2, Financial services — UNIversal Financial Industry message scheme — Part 2: Roles and
responsibilities of the registration bodies
ISO 20022-5, Financial services — UNIversal Financial Industry message scheme — Part 5: ISO 20022
Reverse engineering
UML (Unified Modelling Language), Version 1.4 — Object Management Group
XML (Extensible Markup Language) 1.0 (Second Edition) W3C Recommendation 6 October 2000 — World
Wide Web Consortium
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ISO 20022-1:2004(E)
3 Terms and definitions
For the purposes of this document, the following terms and definitions apply. All these terms are capitalized
when used throughout the document.
NOTE These terms and definitions do not necessarily fully reflect the UML specific terminology.
3.1
Business Actor
physical business user playing one or more Business Roles in a particular Business Process or Business
Transaction
EXAMPLE Bank, corporate.
NOTE 1 A Business Actor may be a person, organisation or infrastructure.
NOTE 2 Business Actors are a category of Business Concepts. They are stored in the Data Dictionary.
See Figure 1.
Figure 1 — ISO 20022 Data Dictionary
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ISO 20022-1:2004(E)
3.2
Business Area
set of strongly related business activities, that provide a self-standing business value to a set of Business
Actors
EXAMPLE Securities pre-trade, payment initiation.
NOTE 1 A Business Area may contain other Business Areas (i.e. hierarchical structure). At the lowest level it will
contain a set of Business Processes.
NOTE 2 Business Areas are stored in the Business Process Catalogue.
See Figures 2 and 3.
Figure 2 — ISO 20022 Repository Structure
3.3
Business Association
relation between two Business Components
EXAMPLE A party services an account.
NOTE 1 Business Associations are a category of Business Concepts. They are stored in the Data Dictionary where
they are linked to their two related Business Components. Their meaning can only be described unambiguously in
combination with these two Business Components.
NOTE 2 There can be several Business Associations between two particular Business Components.
See Figure 1.
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ISO 20022-1:2004(E)
Figure 3 — Business Process Catalogue meta model
3.4
Business Component
representation of a (part of a) key business notion, characterized by specific Business Elements
EXAMPLE Account, trade, party.
NOTE 1 Business Components are a category of Business Concepts. They are stored in the Data Dictionary.
NOTE 2 A Business Component may have one or more Business Associations with other Business Components.
See Figure 1.
3.5
Business Concept
Dictionary Item with a business meaning
EXAMPLE Business Actor, Business Role, Business Component, Business Element, Business Association.
See Figures 1 and 2.
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ISO 20022-1:2004(E)
3.6
Business Element
business characteristic of a Business Component
EXAMPLE Account status, deal price, trade date and time.
NOTE Business Elements are a category of Business Concepts. They are stored in the Data Dictionary where they
are linked to their owning Business Component. Their meaning can only be described unambiguously in combination with
this Business Component.
See Figure 1.
3.7
Business Information
generic name covering Business Components, Business Elements and Business Associations
3.8
Business Information Diagram
diagram that shows a set of Business Components, Business Elements and Business Associations
3.9
Business Model
abstract description of a (part of a) Business Area showing the main Business Processes and Business
Concepts relevant to this (part of a) Business Area
3.10
Business Process
main business activity within a Business Area that yields an observable result to one or more industry
participants and that allows the industry to achieve its business objectives
EXAMPLE Securities ordering, trade matching.
NOTE 1 A Business Process may contain other Business Processes such as in a hierarchical structure.
NOTE 2 Business Processes are stored in the Business Process Catalogue.
See Figure 3.
3.11
Business Process Diagram
diagram that shows a set of Business Processes, Business Actors and Business Roles in a particular
Business Area
3.12
Business Process Catalogue
part of the ISO 20022 Repository that contains all Business Process and Business Transaction related items
NOTE It contains related items from the Business Area down to the Message Definitions and their physical
implementation.
See Figures 2 and 3.
3.13
Business Role
functional role played by a Business Actor in a particular Business Process or Business Transaction
EXAMPLE Account owner, buyer.
NOTE Business Roles are a category of Business Concepts and are stored in the Data Dictionary.
See Figure 1.
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ISO 20022-1:2004(E)
3.14
Business Transaction
particular solution that meets the communication requirements and the interaction requirements of a particular
Business Process and/or Business Area
NOTE It is typically based on the use of Messages.
See Figures 2 and 3.
3.15
Catalogue Item
item that is uniquely identified in the Business Process Catalogue
3.16
Code
one possible value in a finite enumeration of all possible values of a Data Type of Data Type Representation
“code” assigned to a Business or Message Element
EXAMPLE “INDI” is a possible value for the Data Type “Rate Status Code” and represents an indicative rate.
NOTE Codes are stored in the Data Dictionary where they are linked to their owning Data Type. Their meaning can
only be described unambiguously in combination with this Data Type.
See Figure 1.
3.17
Convergence Documentation
documentation set showing relations between ISO 20022 Message Definitions, Message Components,
Message Elements, Business Components, Business Associations and/or Business Elements and items
defined in other Industry Message Sets
NOTE The Industry Message Sets include the ISO 15022 Message Set.
3.18
Data Dictionary
part of the ISO 20022 Repository that contains all items that can be re-used during business process
modelling and message definition activities
NOTE The Data Dictionary therefore contains Business Concepts, Message Concepts and Data Types.
See Figures 1 and 2.
3.19
Dictionary Item
item that is stored in the Data Dictionary
3.20
Data Type
item that unambiguously specifies the set of valid values of a Business Element or Message Element
EXAMPLE ISO 9362 - Bank Identifier Code (BIC).
NOTE 1 The set of valid values may be defined via a format specification (e.g. text pattern) or via an exhaustive
enumeration of all possible values (e.g. a list of Codes or a reference to a standardized coding scheme). Data Types are
stored in the Data Dictionary.
NOTE 2 This definition is semantically equivalent to the definition of “datatype of data element values” in 3.26 of
ISO 11179-1:1999 (“A set of distinct values for representing the data element value”). The definition has only been
adapted to the particular terminology of ISO 20022.
See Figures 1 and 2.
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ISO 20022-1:2004(E)
3.21
Data Type Representation
category of Data Types, characterized by a set of technical information required for implementation and
processing
EXAMPLE Code, Text, Amount, Identifier.
NOTE 1 The full list of valid Data Type Representations is registered in the Data Dictionary.
NOTE 2 This definition is semantically equivalent to the definition of “representation” in 3.60 of ISO 11179:1999 (“The
combination of a value domain, datatype, and, if necessary, a unit of measure or a character set”).
See Figure 1.
3.22
Diagram
graphical representation of information, complementing a textual description
NOTE It can be used
...
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