Executive Summary of the Investment Roadmap:
- Within the financial services industry, there are multiple messaging standards being used, and the purpose of the Standards Coordination Group has been to come up with an approach that leverages and includes these standards into a broader framework without reinventing and creating redundant messages that increase implementation costs and cause confusion for the industry.
- This investment roadmap affirms the commitment of each organisation (FIX, FpML, SWIFT, XBRL, ISITC and FISD) to the ISO 20022 business model by laying the groundwork for defining a common underlying financial model and ensuring some level of interoperability by producing a consistent direction for the utilisation of messaging standards and communicating that direction clearly to the industry.
- The respective business processes included in the roadmap are or will be incorporated within the ISO 20022 business model and the model allows for ISO 20022 XML based messages to be created to support the business processes, while at the same time provides, in certain circumstances, for existing domain specific syntaxes and protocols to be maintained in order to protect the investments of market participants.
- The organisations are committed to meeting on a consistent basis to ensure the roadmap continues to accurately depict the standards environment.
Please also visit the roadmap on the following page of the ISO 20022 website: www.iso20022.org/documents/general/InvestmentRoadmap.pdf.
Investment Roadmap Slide Deck
Investment Roadmap FAQ