ISO 15022

From Wikipedia, the free encyclopedia

The introduction to this article provides insufficient context for those unfamiliar with the subject. Please help improve the article with a good introductory style.

ISO 15022 is a securities messaging standard. It replaces the previous securities messaging standard ISO 7775. It provides two syntaxes: one compatible with the preceding standards, and one fairly compatible with EDIFACT. ISO 20022 is the successor to ISO 15022

The official website for the ISO 15022 standard is http://www.iso15022.org

ISO 15022 was developed in 1995 to provide the securities industry with a better tool to create message standards. The previous standard ISO 7775 contained the actual message standards themselves (like the MT 520 or MT 534), which did not make it easy to make changes to these standards (because each time one needs to pass a number of time consuming standard cycles). To avoid this, ISO 15022 does not contain the actual messages, but contains a set of rules and guidelines to build messages. If these rules and guidelines are adhered to (checked by the registration authority) the resulting message (format) is automatically an ISO 15022 compliant standard. Examples are the MT 540 and MT 548.