UNIFI (ISO 20022)

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• UNIFI (ISO 20022)

The success of ISO 20022 UNIversal Financial
Industry message scheme
Jean-Marie Eloy Senior Manager, SWIFT ISO 20022
Registration Authority
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Where does it fit in ISO? International
Organization for Standardization
157 Countries
National Standards Bodies (BSI, ANSI, AFNOR, DIN,
UNI, etc)
General Assembly
Council
Central Secretariat
Technical Management Board (TMB)
TC 68 Financial Services
193 Technical Committees
TC
TC
TC
SC 7 Banking
SC 4 Securities
SC 2 Security
540 SubCommittees
2,244 Working Groups
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Why UNIFI (ISO 20022)?The UNIFI value
proposition
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UNIFI (ISO 20022)The ISO recipe for all
financial messages

• ISO 20022 - UNIversal Financial Industry message
  scheme, the recipe
• syntax neutral business modelling methodology
  (UML)
• syntax specific design rules (UML to XML)
• industry led development/registration process
• financial repository on www.iso20022.org
• reverse engineering approach to ease coexistence

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UNIFI (ISO 20022) recipe - For whom?Potential
users and developers

• communities of users looking for interoperability
  and more cost-effective communications
• Message development organisations MDDL, FIX,
  FinXML, VRXML, RIXML, FpML, IFX, TWIST, SWIFT,
  RosettaNet, OAGi, ACORD, ISTH, CIDX, XBRL, etc.
• Market Infrastructures (MIs) DTCC, FED, EBA,
  Target, CLS, Euroclear, Omgeo, etc.
• International or national standards setters
  ACBI, ISO TC68 WGs, UN/CEFACT TBG5, OMG, ISITC,
  EPC, etc.

There are also catalysts for interoperability and
convergence, such as SEPA, Giovannini, MiFID,
e-Invoicing
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UNIFI (ISO 20022)The registration bodies

• Registration Management Group, RMG
• Overall governance / court of appeal
• Represent the whole financial industry
• Approve business justifications for new message
  standards
• Standards Evaluation Groups, SEGs
• Represent future users of specific financial
  areas
• Validate message standards
• Registration Authority, RA
• Ensure compliance
• Maintain iso20022.org and publish UNIFI
  Repository
• Technical Support Group, TSG (to be created)
• Assist RMG, SEGs, RA and submitting organisations

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UNIFI (ISO 20022) The registration process
Candidate UNIFI messages
Business validation
UNIFI messages
Official registration and publication
www.iso20022.org
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Registration Management Group (RMG) Standards
Evaluation Groups (SEGs)

• RMG (50 senior managers, 18 countries, 9 liaison
  organisations)
• AT, AU, CA, CH, DE, DK, FI, FR, GB, IT, JP, KR,
  LU, NL, NO, SE, US, ZA, Clearstream, Euroclear,
  FPL, FpML, ISITC, SWIFT, TWIST, UN/CEFACT/TBG5,
  VISA
• Convener Gerard Hartsink, ABN Amro
  Vice-convener Bob Blair, JP Morgan Chase
• Payments SEG (39 experts,13 countries, 5
  organisations)
• AT,AU,CH,DE,DK,FI,FR,GB,NL,NO,SE,US,ZA,IFX,Eurocle
  ar,SWIFT,TBG5,TWIST
• Convener Len Schwartz, ABN Amro Vice-convener
  Bob Blair, JP Morgan Chase
• Securities SEG (55 experts, 16 countries, 7
  liaison organisations)
• AU, CA, CH, DE, DK, FI, FR, GB, JP, LU, NL, NO,
  SE, TR, US, ZA, Clearstream,Euroclear, FISD/MDDL,
  FPL, ISDA/FpML, ISITC, SWIFT
• Convener Karla McKenna, Citigroup
  Vice-convener Didier Hermans, Euroclear
• Forex SEG (26 experts, 11 countries, 3 liaison
  organisations)
• AU, CA, CH, DE, FR, GB, NL, NO, SE, TR, US,
  SWIFT, FIX, ISITC, SWIFT
• Convener Ludy Limburg, ABN Amro Vice-convener
  Tony Smith, JP Morgan Chase
• Trade Services SEG (23 experts, 12 countries, 2
  liaison organisations)
• AU, CH, DE, DK, FI, FR, GB, IS, IT, NL, US, ZA,
  SWIFT, TBG5
• Convener Katja Lehr, IFSA Vice-convener
  Dominique-Pierre Barthares, BNP Paribas

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UNIFI (ISO 20022)The deployment

• Publication of the international standard Dec
  2004
• Kick-off Registration Management Group Jan 2005
• Kick-off Payments and Securities SEGs Jun 2005
• Approval of first UNIFI messages Sep 2005
• Kick-off Forex and Trade Services SEGs Sep 2006
• Today already
• 176 UNIFI messages approved and published (11
  projects)
• 32 candidate UNIFI messages under evaluation (1
  project)
• 11 projects approved for development
• 4 new projects (business justifications) under
  approval

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The UNIFI recipe is used!The message portfolio
is growing

• 176 UNIFI messages approved and published
• Customer payment initiation (5 messages - ISTH)
• Investment funds distribution (45 - SWIFT)
• Interbank payment clearing and settlement (7 -
  SWIFT)
• Payments exceptions investigations (14 - SWIFT)
• Bank-to-customer cash management (3 - ISTH/ISITC)
  
• Forex notifications (15 - CLS)
• Securities regulatory reporting (4 - SWIFT)
• Invoice financing request (3 - ACBI)
• Investment funds distribution (22 - SWIFT)
• Proxy voting (8 - SWIFT)
• Trade services management - TSU (50 - SWIFT)
• 32 candidate UNIFI messages under evaluation
• Securities pre-trade/trade (32 - FIX/SWIFT)

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The UNIFI recipe is used!The message portfolio
is growing

• Candidate UNIFI messages in development
• Issuers agents communication (Euroclear)
• Total portfolio valuation statement (ISITC)
• Cash management (SWIFT)
• Securities post-trade (Omgeo)
• E-invoice (UN/CEFACT/TBG5)
• Securities registration and holder ID (Euroclear)
  
• Securities market claims and transformations
  (Euroclear)
• Securities settlement and reconciliation (SWIFT)
• Securities corporate actions (SWIFT)
• Securities issuance (Euroclear)
• Change/verify account identification (GUF)

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The UNIFI recipe is used!The message portfolio
is growing

• New development proposals
• Creditor payment activation request (ACBI)
• Fund processing passport report (SWIFT)
• Triparty collateral management (SWIFT)
• Payments e-mandates (SWIFT)

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The UNIFI recipe is used! Payments
Creditors financial institution
Direct Debits / Credit Transfers
Debtorsfinancial institution
Exceptions Investigations
Cash Management
Change/Verify Account Identification
Exceptions Investigations
Advice Statement
Cash Management
Change/Verify Account Identification
UNIFI
Exceptions Investigations
Advice Statement
Credit Transfer Initiation
Direct Debit Initiation
Candidate UNIFI (in development)
Cash Management
Debtor/ Buyer
Creditor/Seller
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A single ISO-UN/CEFACT approach
UNIFI Registration Management Group
UNIFI Users
UNIFI Standards Evaluation Groups
ISTH
UNIFI Registration Authority
UN / CEFACT (All Industries)
Omgeo
UN/CEFACT Registry/ Repository
UNIFI Financial Repository
Securities
CLS
Business Requests
TBG17 Harmo- nisation
SWIFT
Core Components
Data Dictionary
Payments
Euroclear
Message Models
Business Process Catalogue
ISITC
Trade Services
ACBI
www.iso20022.org
Forex
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The UNIFI recipe is used! Trade Services
e-Invoice
Sellers bank
Buyers bank
TSU messages
TSU messages
Invoice financing request
e-Invoice
EBPP
UNIFI
Candidate UNIFI
Seller
Buyer
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www.iso20022.org
uestions

Answers
iso20022ra_at_iso20022.org
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Where does it fit in the ISO structure
International Organization for Standardization
157 Countries
National Standards Bodies (BSI, ANSI, AFNOR, DIN,
UNI, etc)
General Assembly
Council
Central Secretariat
Technical Management Board (TMB)
TC 68 Financial Services
193 Technical Committees
TC
TC
TC
SC 7 Banking
SC 4 Securities
SC2 Security
540 SubCommittees
2,244 Working Groups
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Harmonisation between ISO and UN/CEFACT

• 2004
• TC68, TBG5 and SWIFT sign a cooperation agreement
  to investigate alignment in line with the
  objectives of the MoU on e-Business
• A workplan is agreed between the signatories
• 2005
• Recommendation for alignment of methodologies
• Trial submission from UNIFI to UN/CEFACT
• 2006
• TC68/WG4 takes over technological alignment
• 2007
• First official submission from UNIFI to UN/CEFACT
• 2008
• Customer-to-bank payment components harmonised
  and accepted in UN/CEFACT core component library