By The SWIFT Standards Team
ISBN-10: 0470972823
ISBN-13: 9780470972823
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Extra info for ISO 20022 For Dummies
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ISO 20022 adoption is gathering pace in major markets around the world. ✓ ISO 20022 is an open standard that anyone can use, and to which anyone can contribute. indd 46 8/9/10 10:02 AM8/9/10 10:02 AM Chapter 7 Ten Useful Links for Standards Implementers F eel like you’ve learnt a lot about ISO 20022 but want to know more? Here is a list of useful URLs for ISO and other standards bodies. indd 47 8/9/10 10:02 AM8/9/10 10:02 AM Appendix Glossary ACH: Automated Clearing House that is used to clear retail payments between banks in a country or region.
Similar work is underway with FpML (the industry-standard protocol for complex financial products). indd 31 8/9/10 10:01 AM8/9/10 10:01 AM 32 ISO 20022 For Dummies Alignment with XBRL eXtensible Business Reporting Language (XBRL), is a technology that has been around for many years in the financial reporting arena. XBRL is used to ‘tag’ business information so that it can be meaningfully integrated into business applications and understood by analysts, investors and other financial intermediaries.
Most large counterparties and service providers are equipped to continue to support existing formats, for example, by using the interoperability tools described in the earlier chapters. Focused player in a business where ISO 20022 standards are heavily used Focused players in areas such as European retail payments or the funds industry need ISO 20022 to operate. If this is you, you have to implement ISO 20022 capabilities, so you have to install communications and interface software that is ISO 20022 aware.
ISO 20022 For Dummies by The SWIFT Standards Team
by Edward
4.2