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The ISO TC68 subcommittee on securities has an XML effort underway. The stated mission of the group is to “evolve ISO 15022 to permit migration of the securities industry to a standardized use of XML, guaranteeing interoperability across the industry and with other industry sectors, particularly but not restricted to the financial industry”. It is the intent to evolve the current ISO 15022 Data Field Dictionary (DFD) to an ISO sponsored repository that will store and register industry business models and other related information.

TC68 is defining standard rules to build an overall financial business model and the various supporting message models, i.e. business message scenarios, expressed in UML (Unified Modeling Language). They are also defining standard rules to derive ISO XML schemas from the UML message models.

The new ISO 15022 Repository will store the UML business model, the UML message models and the derived ISO XML schemas. A Registration Authority will maintain the ISO 15022 Repository and make it publicly available for general use, on behalf of ISO.

Deliverable Description Milestones

Basic Standard (Update Parts 1 & 2)

Overview document - the description of inputs and outputs of the repository and the repository maintenance process for the Registration Authority Early October 2001.

Supporting Documents Standards Modeling Guidelines, the Reverse Engineering Guidelines and the UML to XML Conversion Rules. These documents will be submitted to ISO together with the basic standard. Early October 2001

Proof of Concept (POC) - Published results of proof of concept demonstrating the feasibility of the approach. Early October 2001

Initial Repository - Create the initial ISO 15022 Repository to cover the domain currently covered by the ISO 15022 Data Field Dictionary and Catalog of Messages - (posttrade/pre-settlement and settlement), the FIX domain and other domains 2001 to Mid 2002.

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Updated : 2002-05-02