ISO/TS 20022-5:2004
(Main)Financial services — UNIversal Financial Industry message scheme — Part 5: ISO 20022 reverse engineering
Financial services — UNIversal Financial Industry message scheme — Part 5: ISO 20022 reverse engineering
ISO/TS 20022-5:2004 describes the activities of "ISO 20022 reverse engineering" from the point of view of the user who wants to verify that the business functionality, covered by his own Industry Message Set, is covered by ISO 20022 compliant Business Transactions and Message Sets. It is not an attempt to define a"methodology" for reverse engineering. ISO/TS 20022-5:2004 describes the following set of required activities: extract relevant information from existing Industry Message Sets and compare it to the related information in the ISO 20022 Repository; use the results of this comparison for the development of ISO 20022 compliant Business Transactions and Message Sets; submit the resulting update requests to the Registration Authority; prepare the migration to the ISO 20022 compliant Business Transactions and Message Sets. The main objectives of the "ISO 20022 reverse engineering" are as follows: capture the industry knowledge covered by existing Industry Message Sets; build upon former standardization efforts in the industry when building ISO 20022 compliant Business Transactions and Message Sets; ensure that the resulting ISO 20022 compliant Business Transactions and Message Sets fully cover the business scope of existing Industry Message Sets; maximize interoperability between existing Industry Message Sets and ISO 20022 compliant Business Transactions and Message Sets; support the migration from existing Industry Message Sets to ISO 20022 compliant Business Transactions and Message Sets. ISO/TS 20022-5:2004 gives some specific terms that are used in the document. It then describes the major activities that will be conducted during reverse engineering and also describes at a high level the resulting deliverables. A detailed workflow is presented, explaining all activities, inputs and outputs. Finally, a detailed description of the Convergence Documentation is given in an appendix.
Services financiers — Schéma universel de messages pour l'industrie financière — Partie 5: Ingénierie inverse ISO 20022
General Information
Relations
Standards Content (Sample)
TECHNICAL ISO/TS
SPECIFICATION 20022-5
First edition
2004-12-15
Financial services — UNIversal Financial
Industry message scheme —
Part 5:
ISO 20022 reverse engineering
Services financiers — Schéma universel de messages pour l'industrie
financière —
Partie 5: Ingénierie inverse ISO 20022
Reference number
ISO/TS 20022-5:2004(E)
©
ISO 2004
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ISO/TS 20022-5:2004(E)
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ISO/TS 20022-5:2004
Contents
Foreword
1 Introduction. 5
2 Terms and definitions. 6
3 Activities and deliverables. 7
3.1 Gap analysis.7
3.2 Development of ISO 20022 compliant Business Transactions and Message
Sets. 8
3.3 ISO 20022 Registration. 8
3.4 Preparation of migration.9
4 Workflow. 9
4.1 Gap analysis.9
4.1.1 Industry Message Set documentation collection . 10
4.1.2 Business Area gap analysis. 12
4.1.3 Business Process gap analysis . 13
4.1.4 Business Transaction gap analysis. 15
4.1.5 Message Definition gap analysis . 18
4.1.6 Business Roles gap analysis . 21
4.2 Development of ISO 20022 compliant Business Transactions and Message
Sets. 23
4.2.1 A new Business Area. 24
4.2.2 A modified Business Area . 25
4.2.3 A new Business Process . 25
4.2.4 A modified Business Process. 26
4.2.5 A requirements use case . 26
4.2.6 A new Business Transaction. 27
4.2.7 A modified Business Transaction. 27
4.2.8 A new Message. 28
4.2.9 A modified Message.28
4.2.10 A new or modified Business Role . 29
4.3 ISO 20022 registration. 29
4.4 Preparation of migration.30
4.4.1 Convergence documentation.31
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ISO/TS 20022-5:2004
4.4.2 Coexistence documentation.35
4.4.3 Migration planning.35
Annex A: Convergence documentation . 37
A.1 Data Type convergence tables . 37
A.2 Element convergence tables.38
A.3 Message convergence tables.38
A.4 Message Item convergence tables. 39
A.5 Some simple examples. 40
A.5.1 Data Type convergence tables . 40
A.5.2 Element convergence tables.41
A.5.3 Message convergence tables.42
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ISO/TS 20022-5:2004
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.
In other circumstances, particularly when there is an urgent market requirement for such documents,
a technical committee may decide to publish other types of normative document:
— an ISO Publicly Available Specification (ISO/PAS) represents an agreement between technical
experts in an ISO working group and is accepted for publication if it is approved by more than
50 % of the members of the parent committee casting a vote;
— an ISO Technical Specification (ISO/TS) represents an agreement between the members of a
technical committee and is accepted for publication if it is approved by 2/3 of the members of
the committee casting a vote.
An ISO/PAS or ISO/TS is reviewed after three years in order to decide whether it will be confirmed
for a further three years, revised to become an International Standard, or withdrawn. If the ISO/PAS
or ISO/TS is confirmed, it is reviewed again after a further three years, at which time it must either
be transformed into an International Standard or be withdrawn.
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/TS 20022-5 was prepared by Technical Committee ISO/TC 68 to complement ISO 20022-1,
Overall methodology and format specifications for inputs to and outputs from the ISO 20022
Repository, with 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.
This Technical Specification should be reviewed and considered for publication as an International
Standard once further experience has been gained in using these guidelines.
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/TS 20022-5:2004
1 Introduction
The ISO 20022 Repository will contain all ISO 20022 compliant Business Transactions and
Message Sets, as outlined in ISO 20022-1. The approach that must be followed to add ISO
20022 compliant Business Transactions and Message Sets to the Repository can be
classified as follows:
a) Case 1:
No ISO 20022 compliant Business Transactions and Message Sets exist
No Industry Message Set exists
• Example: Collective Investment Vehicles
• Approach: full development of ISO 20022 compliant Business Transactions and
Message Sets using the ISO/TS 20022-3 Modelling guidelines.
b) Case 2:
No ISO 20022 compliant Business Transactions and Message Sets exist
One or more Industry Message Sets exist
• Example: Securities Pre-Trade (FIX Message Set exists)
• Approach: conversion of the Industry Message Set(s) into ISO 20022 compliant
Business Transactions and Message Sets, using ISO/TS 20022-5 Reverse
engineering guidelines.
c) Case 3:
ISO 20022 compliant Business Transactions and Message Sets exist
One or more existing Industry Message Sets exist as well
• Example: Securities Post-Trade (FIX, Omgeo Message Sets exist)
• Approach: comparison of the existing Industry Message Set(s) with the ISO 20022
compliant Business Transactions and Message Sets and extension of the ISO 20022
compliant Business Transactions and Message Sets as necessary, using ISO/TS
20022-5 Reverse engineering guidelines.
This document describes the activities of “ISO 20022 reverse engineering” from the point
of view of the user who wants to verify that the business functionality, covered by his own
Industry Message Set, is covered by ISO 20022 compliant Business Transactions and
1
Message Sets. The document is not an attempt to define a “methodology” for reverse
engineering.
It describes the following set of required activities:
• Extract relevant information from existing Industry Message Sets and compare it to the
related information in the ISO 20022 Repository
1
The document is based on preliminary reverse engineering experiences in the framework of “electronic
Business Oriented Methodology” (eBOM) and of “SWIFTStandards Modelling methodology”. It has been
enriched on the basis of the work conducted in domain groups of the ISO/TC68/SC4/WG10 reverse
engineering project team and on the results of the ISO/TC68/SC4/WG10 Proof of Concept.
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ISO/TS 20022-5:2004
• Use the results of this comparison for the development of ISO 20022 compliant
Business Transactions and Message Sets
2
• Submit the resulting update requests to the Registration Authority
• Prepare the migration to the ISO 20022 compliant Business Transactions and Message
Sets.
The main objectives of the “ISO 20022 reverse engineering” are as follows:
• Capture the industry knowledge covered by existing Industry Message Sets
• Build upon former standardization efforts in the industry when building ISO 20022
compliant Business Transactions and Message Sets
• Ensure that the resulting ISO 20022 compliant Business Transactions and Message Sets
fully cover the business scope of existing Industry Message Sets
• Maximise interoperability between existing Industry Message Sets and ISO 20022
compliant Business Transactions and Message Sets
• Support the migration from existing Industry Message Sets to ISO 20022 compliant
Business Transactions and Message Sets.
The document is structured as follows:
ƒ Chapter 2 contains some specific terms that are used in this document.
ƒ Chapter 3 describes the major activities that will be conducted during reverse
engineering and also describes at a high level the resulting deliverables.
ƒ Chapter 4 gives a detailed workflow, explaining all activities, inputs and outputs.
ƒ Appendix A contains a detailed description of the Convergence Documentation.
2 Terms and definitions
This document uses the terms and definitions as explained in ISO 20022-1: Overall
methodology and format specifications for inputs to and outputs from the ISO 20022
Repository.
Additionally, particular attention should be given to following terms and definitions that are
used in this document:
Industry Message
A Message that offers a particular Message Functionality (possibly multi-functional) and
whose Message Definition is part of an Industry Message Set.
ISO 20022 Message
A Message that offers a particular Message Functionality and whose Message Definition is
registered in the Business Process Catalogue of the new ISO 20022 Repository.
2
Note that it is not the intention of reverse engineering to systematically create ISO 20022 compliant versions
of all existing Industry Message Sets. Update requests shall always be based on a valid business justification.
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ISO/TS 20022-5:2004
Message Item
An element or field used at a particular place in a Message. This exact place is typically
described by the Message Path.
Message Path
The exact position in a particular Message Definition. This position is uniquely identified
by the full hierarchy (i.e. “path”) from the message level (i.e. the highest level) down to the
element level (i.e. the lowest level).
All these terms are capitalised when used throughout this document.
3 Activities and deliverables
There are four main activities in the “ISO 20022 reverse engineering”:
• Gap analysis
• Development of ISO 20022 compliant Business Transactions and Message Sets
• ISO 20022 registration
• Preparation of migration.
The major objectives and deliverables related to these activities are described in this
chapter.
3.1 Gap analysis
Objectives:
ƒ Determine the Business Area of the Industry Message Set and identify the
corresponding Business Area, Business Processes, activities and supporting Business
Transactions in the ISO 20022 Business Process Catalogue.
ƒ Compare Business Roles in ISO 20022 Business Processes and Business Transactions
to the parties that use the Industry Messages or that are identified in the Industry
Messages.
ƒ Verify whether existing ISO 20022 Messages offer the complete Message Functionality
that is offered by the Industry Messages.
ƒ Evaluate whether the business content of the relevant ISO 20022 Messages cover the
business content of the individual Industry Messages.
ƒ Compare the meaning and the data typing of the used Message Components and/or
Business Components to the individual Industry Message Items.
Deliverables:
ƒ Documentation of the coverage, the differences and the gaps between the Industry
Message Set and the ISO 20022 compliant Business Transactions and Message Sets.
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ISO/TS 20022-5:2004
This documentation concerns following repository items:
ƒ Business Areas
ƒ Business Processes
ƒ Business Transactions and Message Sets
ƒ Message Definitions (including Message Rules)
ƒ Business Roles
ƒ Business Components (including Business Elements and Rules)
ƒ Message Components (including Message Elements and Rules)
ƒ Data Types
ƒ The documentation of the Industry Message Set for those repository items that were
missing (i.e. the gaps) or for which a difference was identified.
3.2 Development of ISO 20022 compliant Business Transactions
and Message Sets
Objectives:
ƒ Complete the gap analysis with all additional information that is required to define or
complete ISO 20022 compliant Business Transactions and Message Sets.
ƒ Define the required updates and additions to the existing ISO 20022 compliant Business
Transactions and Message Sets.
This step shall only focus on the identified gaps and differences and shall verify whether
there’s a valid business justification to include these gaps and differences in the ISO 20022
repository. It shall also take into account that the goal of reverse engineering is not to
question (except with respect to the business justification), modify or complement the
business functionality that is currently supported in the Industry Message Set.
Deliverables:
ƒ Detailed documentation describing how the existing ISO 20022 compliant Business
Transactions and Message Sets must be updated to incorporate the identified gaps and
differences.
3.3 ISO 20022 Registration
Objectives:
ƒ Prepare the information for the ISO 20022 Registration Authority to request the update
of the ISO 20022 repository with all required additions and modifications.
Deliverables:
ƒ Requests to the ISO 20022 Registration Authority to add or modify Dictionary Items
and/or Catalogue Items.
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ISO/TS 20022-5:2004
3.4 Preparation of migration
Objectives:
ƒ Define and document the relationship between the Industry Message Set and ISO 20022
compliant Business Transactions and Message Sets. The required amount of
information will depend on the chosen migration path:
ƒ in case of a “big bang” migration, it will be sufficient to only document the
relationship in a way that supports the convergence towards ISO 20022
ƒ in case of an accepted period of coexistence there will be a need to have “bi-
directional” documentation that not only supports the convergence towards ISO
20022, but also a backwards mapping to the Industry Message Sets.
ƒ Define a plan for the migration to the ISO 20022 compliant Business Transactions and
Message Sets.
Deliverables:
ƒ Convergence Documentation
ƒ Coexistence Documentation (optional)
ƒ Migration plan
4 Workflow
This chapter contains a detailed workflow description of the four main activities in the
“ISO 20022 reverse engineering”.
4.1 Gap analysis
Preliminary remarks:
• The gap analysis requires a lot of expertise and documentation about the Industry
Message Set. In case this documentation is not readily available, there will be a need
to perform a thorough analysis of the Industry Message Set and its use (see first step
below).
• The gap analysis also requires a lot of documentation about the ISO 20022 compliant
Business Transactions and Message Sets. The repository outputs will include this
documentation.
• Gap analysis is crucial for all subsequent steps:
• Identifying the differences and gaps will define the scope of the subsequent
development of ISO 20022 compliant Business Transactions and Message Sets and
ISO 20022 registration.
• Identifying the overlaps will provide the required information for the Convergence
Documentation and the related migration.
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ISO/TS 20022-5:2004
The main steps in gap analysis are shown on the following diagram:
Industry Message Set
1
documentation collection
2 Business Area gap analysis
3 Business Process gap analysis
4 Business Transaction gap analysis
5 Message Definition gap analysis
6 Business Roles gap analysis
These steps, which are described in more detail in the subsequent paragraphs, will be
executed in an iterative and incremental way. In the “reverse engineering case 2” (i.e. no
existing ISO 20022 compliant Business Transactions and Message Sets) only the collection
of the Industry Message Set documentation needs to be done.
4.1.1 Industry Message Set documentation collection
If the Industry Message Set is well documented (i.e. a full description including the
Business Area, the Business Processes and the Business Transactions), this step is limited
to the explicit identification of the documentation set.
In many cases however, the Industry Message Set documentation will focus only on the
Message Definitions and will mainly document the functionality and content of all Industry
Messages. In some cases, even this documentation may be very limited (e.g. restricted to a
description of the physical structure). In these cases, it is mandatory to complete the
Industry Message Set documentation prior to the reverse engineering.
Activities:
The recommended approach to complete the Industry Message Set documentation is
depicted in the following diagram and further explained in the text.
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ISO/TS 20022-5:2004
1 Start from Message Definition
2 Describe Message Functionality
3 Describe business meaning of fields
4 Extract Business Roles
5 Identify Business Transactions
6 Identify Business Processes
7 Identify Business Area(s)
1. Start from the description of the Industry Message Definition.
2. Describe, for each Industry Message, the Message Functionality (i.e. the purpose(s) for
which the Industry Message may be used). Note that Industry Messages may be multi-
functional and that each function should be described.
3. Describe for each Industry Message Item the business meaning. Note that the meaning
of the Item may depend on the specific Message Functionality, in case the Industry
3
Message is multi-functional. In this case, all meanings must be described.
4
4. Extract from each Industry Message the Business Roles , by identifying the functional
roles of the sender and the receiver of the Industry Message and by identifying the
functional roles of all other parties that appear in the Industry Message content.
5. Analyse the use of the Industry Messages in order to identify the “Business
Transactions” (i.e. the different message flows that occur in the industry) in which the
3
One of the big challenges of this step is to identify the real business meaning of the fields.
Note that one Industry Message field may contain multiple Business Elements and/or may contain partial
Business Elements (in which case it may have to be combined with other Industry Message fields to obtain
meaningful Business Elements).
Note that a multi-functional Industry Message will also contain fields to specify the used functionality. These
fields won’t have a corresponding Message Element in the ISO 20022 Message. For these fields, document
the Message Functionality they represent.
Note that an Industry Message may contain “technical” fields, which have no business meaning. In some
cases these fields may have a corresponding technical Message Element in the ISO 20022 Message Definition
but they will never have a corresponding Business Element.
4
The distinction between “Business Actors” and “Business Roles” is that the latter indicate functional roles
(e.g. buyer, seller, etc.) whereas the first indicate real business parties (e.g. bank, corporate, broker/dealer,
etc.). One Business Actor can play various Business Roles in a business process (e.g. a bank can be a buyer, a
seller, an account servicer, etc.) and various Business Actors can often play the same Business Role (a bank, a
corporate or an individual person can act as buyer).
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ISO/TS 20022-5:2004
Industry Messages are used and document each of these Business Transactions, ideally
using a Message Flow Diagram and a textual description.
6. Analyse the list of identified Business Transactions in order to identify the Business
Processes that are supported.
7. Identify the Business Area(s) to which the Business Processes belong.
4.1.2 Business Area gap analysis
The goal is to identify the ISO 20022 Business Areas for which the Industry Message Set is
used. Additionally, investigate whether the Industry Message Set is also used for other
Business Areas that are not yet part of the ISO 20022 Repository.
Input:
• List of ISO 20022 Business Areas, including definitions.
• Industry Message Set documentation related to Business Areas.
Activities:
The recommended approach for Business Area gap analysis is depicted in the following
diagram and further explained in the text.
Industry
ISO 20022
Message
Business
Set
Areas:
documentation
• Definition
Compare Business Area(s)
1
Document coverage, differences
2
and gaps
Business Area
•
coverage
• differences
• gaps
1 Go through the list of Business Areas that are stored in the ISO 20022 Business Process
Catalogue. Use the definitions of these Business Areas to identify the Business Area(s)
that best cover(s) the Business Area(s) of the Industry Message Set.
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ISO/TS 20022-5:2004
2 Following cases can be identified:
ƒ None of the ISO 20022 Business Areas covers the Business Area(s) of the Industry
Message Set.
- Document this additional Business Area, based on the documentation of the
Industry Message Set.
ƒ One or multiple ISO 20022 Business Areas cover precisely the Business Area(s) of
the Industry Message Set.
- Document this coverage.
- Document possible differences that are identified between the definition of the
Business Area in ISO 20022 and in the corresponding Industry Message Set.
ƒ One ISO 20022 Business Area covers more than the Business Area(s) of the
Industry Message Set.
- Document what part of the ISO 20022 Business Area covers the Industry
Message Set.
- Document possible differences that are identified between the definition of the
Business Area in ISO 20022 and in the corresponding Industry Message Set.
ƒ One or multiple ISO 20022 Business Areas cover a part of the Business Area(s) of
the Industry Message Set and the rest of the Industry Message Set is not covered.
- Document each coverage (i.e. which part of which ISO 20022 Business Area
covers which part of the Industry Message Set).
- Document the part of the Industry Message Set that is not covered, based on the
documentation of the Industry Message Set.
- Document possible differences that are identified between the definition of the
Business Area in ISO 20022 and in the corresponding Industry Message Set.
Output:
• List of ISO 20022 Business Areas that cover (parts of) the Business Area(s) of the
Industry Message Set (including, where necessary, a description of which parts of the
Business Area(s) of the Industry Message Set are covered). This list will include
possible differences in definition that have been identified.
• List of additional Business Areas that are not covered by existing ISO 20022 Business
Areas. Each Business Area in this list will contain a definition, based on the Industry
Message Set documentation.
4.1.3 Business Process gap analysis
The goal is to identify the ISO 20022 Business Processes for which the Industry Message
Set is used and to investigate whether the Industry Message Set is also used for other
Business Processes that are not yet part of the ISO 20022 Repository.
Input:
• ISO 20022 Business Process documentation:
– Definition
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ISO/TS 20022-5:2004
– ISO 20022 Business Process descriptions, Business Process Diagram and Business
Activity Diagram
• Industry Message Set documentation related to Business Processes.
Activities:
The recommended approach for Business Process gap analysis is depicted in the following
diagram and further explained in the text.
Business Area
Industry
ISO 20022
•coverage
Message
Business
•differences
Set
Processes:
•gaps
documentation
• Definition
• Diagram
Search matching Business Process(es
) in
1
identified ISO 20022 Business Area(s)
Define additional Business Process(es) in
2
identified ISO 20022 Business Area(s)
Define Business Process(es) in additional
3
Business Area(s)
Business Process
• coverage
• differences
• gaps
1 For each ISO 20022 Business Area that has been identified as one that matches a
Business Area of the Industry Message Set:
ƒ Go through the
...
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