UNIFI (ISO 20022)

UNIFI_(ISO_20022)_SV_v13

UNIFI (ISO 20022)

The success of ISO 20022 – UNIversal Financial Industrymessage scheme

UNIFI (ISO 20022)


UNIFI (ISO 20022)The ISO recipe for all financial messages

ISO 20022 - UNIversal Financial Industry message scheme, the recipe:

syntax neutral business modelling methodology

syntax specific design rules

industry led development/registration process

financial repository on www.iso20022.org

reverse engineering approach to ease coexistence


ISO 15022

MDDL

TWIST

FIX

FpML

IFX

Why UNIFI (ISO 20022)?Supports convergence and co-existence

IFX

ISO 15022

MDDL

TWIST

FIX

FpML

Message model

Long term we want one standard, but in the interim several standards need to co-exist…

Message model


Bank A Bank B

CompetitiveSpace

CompetitiveSpace

Cooperative Space

SME’s

Tradefacilitation:ICC Rule Books, e-invoicing

Cash:NCB rules, Industry Standards

Securities:Rule Books, Exchanges, CCP’s

CSD’s, Standardisation

High Value Payments:RTGS, EURO1 and CHIPS

Cards:Rule Books, Card Schemes,

Cards Processors

Certification & Networks:SWIFT

Commercial Payments:Rule Books, Clearing Houses,

Processors

Financial Institutions

Corporates

Merchants

Consumers

PublicAdmini-strators

Financial Institutions

PublicAdmini-strators

Corporates

SME’s

Merchants

Consumers

Cooperative space for business rules

Cooperative space for standards

FX and Money Markets:Rule Books, CLS

Why UNIFI (ISO 20022)?Convergence in the cooperative space


UNIFI (ISO 20022) recipe - For whom?Potential users and developers communities of users looking for interoperability and

more cost-effective communications

Message development organisations: FIX, FinXML, VRXML, RIXML, FpML, IFX, TWIST, SWIFT, RosettaNet, OAGi, ACORD, ISTH, XBRL, CIDX, EPAS, etc.

Market Infrastructures (MIs): DTCC, FED, EBA, Target, CLS, Euroclear, Omgeo, etc.

International or national standards setters: ACBI, ISITC, ISO TC68 WGs, UN/CEFACT TBG5, OMG, EPC, etc.

There are also catalysts for interoperability and convergence, such as SEPA, Giovannini, MiFID, e-Invoicing


UNIFI (ISO 20022) The registration bodies Registration Management Group - RMG

(Overall governance)– 50 senior managers from 18 countries and 9 international organisations

Standards Evaluation Groups – SEGs(User representatives)– Payments (42 experts,14 countries, 5 organisations)– Securities (59 experts, 16 countries, 7 organisations)– Forex (25 experts, 10 countries, 3 organisations)– Trade (26 experts, 13 countries, 2 organisations)– Cards and related retail financial services (22 experts, 9 countries, 3

organisations) Technical Support Group – TSG

(ISO 20022 technical advisors)– 22 experts from 8 countries and 4 international organisations

Registration Authority – RA(Maintaining UNIFI repository)


UNIFI (ISO 20022) The registration process

Submitter Financial industry group or standards body

Business justification

Business justification

RMGProject approval & allocation to a SEG

SEGEndorsement of scope and developers

Submitter & RA

Development & provisional registration

SEGBusiness validation

RAOfficial registrationand publication

Repository

Dictionary

CatalogueOptional pilot testingor first implementers

RMG

monitors Submitter

& users

www.iso20022.org

Candidate UNIFI messages

UNIFI messages


The UNIFI recipe is used! (1/10)Payments

Debtor

Debtor’sfinancial

institution

Creditor’s financial institution

UNIFI

Creditor

Cash Management

Direct Debits / Credit Transfers E

xcep

tions

& I

nves

tigat

ions

Cre

dit

Tra

nsf

er I

nitia

tion

Exc

eptio

ns &

Inv

estig

atio

ns

Dire

ct D

ebit

Ini

tiatio

n

Candidate UNIFI (in development)

Adv

ice

& S

tate

men

t

Adv

ice

& S

tate

men

t

Exceptions & InvestigationsC

ash

Man

age

men

t

Cas

h M

ana

gem

ent

Change/Verify Account IdentificationC

hang

e/V

erif

y A

ccou

nt I

dent

ifica

tion

E-Mandates

E-M

anda

tes

Cre

dito

r P

aym

ent

Act

ivat

ion

Re

ques

t

Cre

dito

r P

aym

ent

Act

ivat

ion

Re

ques

t

Creditor Payment Activation RequestB

ank

Acc

ount

Man

agem

ent


29 UNIFI messages approved and published:– Customer payment initiation– Interbank payment clearing and settlement– Payments exceptions & investigations– Bank-to-customer cash management

Candidate UNIFI messages under evaluation:– Payments message maintenance 2009

Candidate UNIFI messages approved for development:– Cash management– Change/verify account identification– E-Mandates– Creditor payment activation request– Bank account management

New development proposals:– none

The UNIFI recipe is used! (2/10)Payments message portfolio is growing!


UNIFI messages approved and published:– none

Candidate UNIFI messages under evaluation:– none

Candidate UNIFI messages approved for development:

– ATM interface for transaction processing and ATM management

– Card payments exchanges

New development proposal:– none

The UNIFI recipe is used! (3/10)Cards and related retail financial services


The UNIFI recipe is used! (4/10)Securities - equities and fixed income

Custodian

Pre-trade / Trade (FIX/SWIFT)

I/CSD

Settlement & Reconciliation

(SWIFT)

Seller

Clearingagent

Buyer

ISO 15022

UNIFI


Issuers’ Agent

Issuers’ Agent Communication

(Euroclear)

Trade / Post-Trade (Omgeo)

Registrar

Registration Communication(Euroclear)

CorporateActionsProxy Voting (SWIFT)

ReconciliationTPV Statement(SWIFT/ISITC)

Pre-Settlement(SWIFT)

Reconciliation(SWIFT)

Corporate

Actions(SWIFT)

Pre-Settlement(SWIFT)

CorporateActions(SWIFT)

Settlement & Reconciliation

(SWIFT)

Market Claims

(Euroclear)

Regulators

Transaction Regulatory Reporting (SWIFT)


Fundaccountant

Institutional investor

Investmentmanager

Transferagent

Fund Cash Forecast Report

Price Report

Account Management

UNIFI


New plan manager

Old plan manager

PEP/ISA/Portfolio Transfers

The UNIFI recipe is used! (5/10)Securities - investment funds (CIV)

Order & Confirmation & Status

Transfer & Confirmation & Status

Statements

FPP report provider, e.g. Fund manager

FPP report user, e.g. Fund distributor

Request for Fund Report

FPP Report

Alternative Funds Order, Confirm & Status


79 UNIFI messages approved and published:– Investment funds distribution – Securities transaction regulatory reporting– Proxy voting

Candidate UNIFI messages under evaluation:– Securities pre-trade/trade– Issuers’ agents communication – Proxy voting maintenance 2009– Fund processing passport report

Candidate UNIFI messages approved for development:– Total portfolio valuation statement– Securities post-trade– Securities registration and holder identification– Securities market claims and automatic transformation– Securities settlement and reconciliation– Securities corporate actions– Securities Issuance – Triparty collateral management – Alternative funds


The UNIFI recipe is used! (6/10)Securities message portfolio is growing!


The UNIFI recipe is used! (7/10) Forex

FX order

Orderingparty

Settlementparty

custodian

Trading party

Trading party

FX & Loan/Deposit Advice & Allocations

Loans and deposits

Foreign exchange and currency options

Interest rate swaps

Central Settlement System

NDF and Foreign Exchange Option Notifications

NDF and Foreign Exchange Option Notifications

NDF Opening and Valuation Notifications andForeign Exchange Option Premium Notifications

MTs

FpML CUG (Trade Notifications)

UNIFI


15 UNIFI messages approved and published:– Forex notifications


Candidate UNIFI messages approved for development:– none


The UNIFI recipe is used! (8/10)FX message portfolio is growing!


Seller’s bank

Buyer’s bank

TSU

TSU messages TSU messages


UNIFI

Buyer Seller

e-Invoice

Invoice Financing RequestEBPP

The UNIFI recipe is used! (9/10)Trade Services

e-Invoice


53 UNIFI messages approved and published:

– Invoice financing request – Trade services management


Candidate UNIFI messages approved for development:– E-invoice


The UNIFI recipe is used! (10/10)Trade message portfolio is growing!


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www.iso20022.org

UNIFI (ISO 20022)

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