Everything you always wanted to know about UNIFI

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Everything you always wanted to know about UNIFI
Sibos, Sydney, 11/10/2006
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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 The actors The users of the recipe
Submitting organisations
Any community of users or organisation that want
to develop UNIFI compliant messages to support
their financial transactions
Could be
Euroclear FED FIX FpML
IFX ISITC ISTH MDDL
OAGI Omgeo SWIFT TWIST
ACBI Clearstream CLS EPAS
Etc.
There are also industry catalysts for
interoperability and convergence, such as SEPA,
Giovannini, MiFID
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UNIFI The actorsThe registration bodies

• Registration Management Group - RMG
• (Overall governance)
• 50 senior managers from 18 countries and 9
  international standards organisations
• Standards Evaluation Groups SEGs
• (User representatives)
• Payments (32 experts,13 countries, 5
  organisations)
• Securities (52 experts, 15 countries, 7
  organisations)
• Forex (25 experts, 11 countries, 3 organisations)
• Trade (19 experts, 11 countries, 2 organisations)
• Registration Authority RA
• (Maintaining UNIFI repository)

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UNIFIStatus of all submissions (1/2)

• UNIFI messages approved and published
• Customer payment initiation (5 messages)
• Interbank payment clearing and settlement (7)
• Payments exceptions investigations (14)
• Investment funds distribution (45)
• Candidate UNIFI messages under evaluation
• Securities pre-trade/trade (44)
• Investment funds distribution (12)
• Forex notifications (15)

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UNIFIStatus of all submissions (2/2)

• Candidate UNIFI messages in development
• Cash management (SWIFT/ISTH)
• Total portfolio valuation statement (ISITC)
• Proxy voting (SWIFT)
• Invoice financing request (ACBI)
• Trade services management (SWIFT)
• Issuers agents communication (Euroclear)
• New business justifications
• ATM Transaction and Management (IFX)
• SEPA Card Payment Authorisation (EPAS)
• Securities Post-trade (Omgeo)

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UNIFIDrivers for the UNIFI success

• Stability
• Business driven approach (syntax neutral)
• Convergence AND interoperability
• End-to-end based on common semantics
• Flexibility
• Cater more easily for market practices and market
  evolution
• Predictability, consistency and speed
• Foster reuse and automation capabilities

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ISO TC68 WG4Reviewing the UNIFI recipe
International Standard Overall methodology and
format specifications for inputs to and outputs
from the ISO 20022 Repository International
Standard Roles and responsibilities of the
registration bodies Technical Specification ISO
20022 modelling guidelines Technical
Specification ISO 20022 XML design
rules Technical Specification ISO 20022 reverse
engineering
Part 1
Part 2
Part 3
Part 4
Part 5
20 countries and standards organisations
(including FPL, ISDA/FpML, FISD/MDDL, SWIFT,
TWIST, UN/CEFACT, OMG, VISA, W3C)
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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
• WG4 will pursue technological alignment
• First official submission from UNIFI to UN/CEFACT

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Long term convergence goal A single
ISO-UN/CEFACT approach
UNIFI Registration Management Group
UNIFI Users
UNIFI Standards Evaluation Groups
ISTH
UNIFI Registration Authority
UN / CEFACT (All Industries)
MDDL
ebXML Registry/ Repository
UNIFI Financial Repository
FpML
Business Requests
Securities
SWIFT
Core Components
Data Dictionary
TBG17 Harmo- nisation
Euroclear
Message Models
Payments
Common Business Processes
Business Process Catalogue
ISITC
TBG5
www.iso20022.org