Foreword

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This document was prepared by Technical Committee ISO/TC 68, Financial services, Subcommittee SC 9, Information exchange for financial services.

This second edition cancels and replaces the first edition ( ISO 20022-3:2013 ), which has been technically revised.

The main changes are as follows:

changes:
- updated all figures to reflect the workflow changes as a result of the revised ISO 20022-1;
- updated Clauses 5, 6, 7 and 8;
clarifications:
- 7.4.4 MessageGranularity included minor version and draft;
additions:
- minor version properties (revision, variation) and draft were added to MessageDefinition;
- InterfaceDefinitions comprising of Operations with Parameters;
- version relationships amongst RepositoryConcept.

A list of all parts in the ISO 20022 series can be found on the ISO website.

Any feedback or questions on this document should be directed to the user’s national standards body. A complete listing of these bodies can be found at www.iso.org/members.html.

Introduction

The ISO 20022 series defines a scalable, methodical process to ensure consistent descriptions of messages throughout the financial services industry.

The purpose of the ISO 20022 series is to describe precisely and completely the externally observable aspects of financial services messaging in a way that can be verified independently against operational messaging.

The trigger for the creation of the ISO 20022 series was the rapid growth in the scale and sophistication of messaging within financial services during the 1990s using the ISO 15022 series . The financial services industry (from here on referred to as "the industry") created the first version of the ISO 20022 series as the successor to the ISO 15022 series in response to that trigger. Since the ISO 15022 series , the industry has broadened the scope from securities to the entire industry for the ISO 20022 series .

The ISO 20022 series is based on open technology standards, which historically have evolved more rapidly than the industry itself. Consequently, the ISO 20022 series adopted a model-driven approach where the model of the industry's messaging can evolve separately from the evolution of the messaging technology standards. The period during which the ISO 20022 series has emerged followed the widespread adoption of the internet for business. The eXtensible Mark-up Language (XML) emerged as the de facto standard for document representation on the internet and it became the first syntax for the ISO 20022 series .

The modelling process is further refined into three levels which, in addition to the messaging technology standard, is why the ISO 20022 series is based on four levels: the scope level, the conceptual level, the logical level and the physical level. This four-level approach is based on the first four levels of the Zachman Framework.^[ 4 ^] The remaining two levels of the Zachman Framework are equivalent to the implementations and the operational levels, respectively.

This document defines a process by which these models can be created and maintained by the modellers.

The model artefacts are stored in an ISO 20022 Repository (hereafter referred to as "the Repository"). The Repository and physical level artefacts are exposed in a publicly accessible location, such as a website, serviced by a Registration Authority. The name and contact information of the Registration Authority for the ISO 20022 series can be found at www.iso.org/maintenance_agencies.

The Repository is organized into two areas:

a DataDictionary containing the industry model elements likely to have further or repeated use;
a BusinessProcessCatalogue that contains models describing specific message definitions and business processes, and physical syntax implementations.

The ISO 20022 series is organized into the following parts:

ISO 20022-1 describes the metamodel of all the models and the Repository according to ISO/IEC 19502:2005 (MOF).
ISO 20022-2 covers the UML profile, a grounding of general UML into a specific subset defined for the ISO 20022 series (to be used when UML is selected to define the models).
This document describes a modelling method to produce models for the ISO 20022 series .
ISO 20022-4 covers XML schema generation rules to transform a logical level model into a physical level description in the syntaxes.
ISO 20022-5 covers business concept model interoperability, and logical model alignment and reverse engineering.
ISO 20022-6 covers message transport characteristics that define the quality of service required by the business process definitions so that they can operate successfully.
ISO 20022-7 describes the process of managing the registration of models and physical syntax implementations.
ISO 20022-8 gives ASN.1 syntax generation rules to transform a logical level model into a physical level description in ASN.1.
ISO 20022-9 describes generic guidelines which are used to define schema generation rules for any specific syntax.

The defined terms of this document are in PascalCase and will use PascalCase throughout the document.

1 Scope

This document describes the modelling workflow, complementing ISO 20022-1 and ISO 20022-2 . The modelling workflow describes the required steps a modeller follows in order to develop and maintain standardized BusinessTransactions and InterfaceDefinitions/MessageSets.

This document does not describe the permissible artefacts and/or documents to be submitted to the Registration Authority (this information is contained in ISO 20022-7 ).

Examples are provided only to illustrate the modelling methodology and are not normative.

2 Normative references

3 Terms and definitions

4 Workflow activities overview

5 Scope level

5.1 General

5.2 Activities

5.3 Guidelines

Apply a "bird's eye view". At the Scope level, it is recommended to concentrate on the business and avoid discussing the solution or even the communication problem. This means that it is assumed that there is no communication problem and each of the BusinessRoles has a perfect knowledge of and access to all information manipulated within its BusinessProcess. It should be remembered that a "good" BusinessProcess adds tangible business value.

Focus mainly on BusinessProcesses that provide a lot of added value, by eliciting BusinessComponents or BusinessRoles. It is not advisable to become immersed in details, e.g. "cancel", "modify", "create", error handling, at this stage. For example, the description of an "Interbank Transfer" BusinessProcess elicits business terms like "Account", "Credit", etc. The description of the "Cancel Interbank Transfer" has no specific added value and should not be considered at this stage. These details are elaborated during the Conceptual level and the Logical level, when BusinessTransactions and MessageSets are defined.

Concentrate on functional roles, rather than on real-life actors. For example, it is important at this stage to identify the role "Buyer", but it is not yet important to identify whether the buyer is an individual or a corporate or financial institution.

Depending on the useful level of detail, one can decide to decompose a BusinessProcess into more detailed BusinessProcesses.

Roles should only be associated to the most detailed BusinessProcesses, i.e. the lowest level.

Business terms are captured as key BusinessComponents (accompanied by a short and clear description, to remove possible ambiguities), that are elaborated further at the Conceptual level or refer to existing BusinessComponents in the ISO 20022 Data Dictionary.

6 Conceptual level

6.1 General

6.2 Activities

6.3 Guidelines

7 Logical level

7.1 General

7.2 Activities

7.3 Constraints

7.4 Guidelines

8 Physical level

8.1 General

8.2 Activities

9 Conventions

9.1 Constraints

9.2 Naming

Bibliography