1. Slide 1 UN/CEFACT TBG5 & CRG, 23 January 2008 UNIFI (ISO 20022) The success of ISO 20022 – UNIversal Financial Industry message scheme Jean-Marie Eloy Senior Manager, SWIFT ISO 20022 Registration Authority

2. Slide 2 General Assembly TC Council Technical Management Board (TMB) TC TC 68 Financial Services Central Secretariat SC 7 Banking SC 4 Securities SC 2 Security National Standards Bodies (BSI, ANSI, AFNOR, DIN, UNI, etc) WG 193 Technical Committees 2,244 Working Groups 540 SubCommittees 157 Countries 16,500 International Standards 50,000 ‘voluntary’ experts 580 international or regional Liaison Organisations What is ISO? International Organization for Standardization

3. Slide 3 Why UNIFI (ISO 20022)? The UNIFI value proposition Objective To enable communication interoperability between financial institutions, their market infrastructures and their end-user communities Major obstacle Numerous overlapping standardisation initiatives looking at XML financial messages: MDDL, FIX, FinXML, VRXML, RIXML, XBRL, FpML, IFX, TWIST, SWIFT, RosettaNet, OAGi, ACORD, CIDX, etc.

4. Slide 4 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

5. Slide 5 ISO 15022 MDDL TWIST FIX FpML IFX 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

6. Slide 6 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

7. Slide 7  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 UNIFI (ISO 20022) The registration bodies

8. Slide 8 UNIFI (ISO 20022) The registration process Submitter Industry group or standards body Business justification Business justification RMG Project approval & allocation to a SEG SEG Endorsement of scope and developers Submitter & RA Development & provisional registration SEG Business validation RA Official registration and publication UNIFI Repository Dictionary Catalogue RMGmonitorsRMGmonitors www.iso20022.org Candidate UNIFI messages UNIFI messages

9. Slide 9 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 (34 experts,13 countries, 5 organisations) –AT,AU,CH,DE,DK,FI,FR,GB,NL,NO,SE,US,ZA,IFX,Euroclear,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

10. Slide 10 General Assembly TC Council Technical Management Board (TMB) TC TC 68 Financial Services Central Secretariat SC 7 Banking SC 4 Securities SC 2 Security UNIFI (ISO 20022) Where does it fit in the ISO structure? 157 National Standards Bodies (BSI, ANSI, AFNOR, DIN, UNI, etc) WG UNIFI RMG SEG RA

11. Slide 11  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: –96 UNIFI messages approved and published (8 projects) –125 candidate UNIFI messages under evaluation (4 projects) –10 projects (business justifications) approved for development –1 business justification under approval UNIFI (ISO 20022) The deployment

12. Slide 12  96 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)  125 candidate UNIFI messages under evaluation: Securities pre-trade/trade (44 - FIX/SWIFT) Investment funds distribution (23 - SWIFT) Proxy voting (8 - SWIFT) Trade services management - TSU (50 - SWIFT) The UNIFI recipe is used! The message portfolio is growing

13. Slide 13  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)  New development proposals: Change/verify account identification (GUF) The UNIFI recipe is used! The message portfolio is growing

14. Slide 14 Debtor/ Buyer Debtor’s Bank Creditor’s Bank UNIFI Global overview Payments Creditor/ Seller Cash Management Direct Debits / Credit Transfers Exceptions & Investigations Credit Transfer Initiation Exceptions & Investigations Direct Debit Initiation Candidate UNIFI Advice & statement Exceptions & Investigations Cash Management

15. Slide 15 Seller’s bank Buyer’s bank TSU TSU messages Candidate UNIFI UNIFI Buyer Seller e-Invoice Invoice financing request EBPP e-Invoice Global overview Trade Services

16. Slide 16 ISTH Omgeo CLS SWIFT Euroclear ISITC ACBI Core Components Common Business Processes Data Dictionary Business Process Catalogue UN/CEFACT Registry/ Repository www.iso20022.org UNIFI Financial Repository UNIFI Registration Management Group UN / CEFACT (All Industries) UNIFI Registration Authority UNIFI Users Business Requests Message Models TBG17 Harmo- nisation Long term convergence goal A single ISO-UN/CEFACT approach UNIFI Standards Evaluation Groups Securities Payments Trade Services Forex

17. Slide 17 & & uestions A nswers iso20022ra@iso20022.org www.iso20022.org