Overview#ISO 15022 is an International Organization for Standardization (ISO) standard for messaging used in transactions between Financial Institutions.
ISO 15022 participants in the financial industry need a common representation of the financial transactions they perform and this standard defines general message schema, which in turn are used by organizations to define messages in a complete and unambiguous way.
ISO 15022 consists of three major Classifications
- Securities - Scheme for Messages (Data Field Dictionary)
- Part 1 - Data Field and Message Design Rules and Guidelines
- Part 2 - Maintenance of the Data Field Dictionary and Catalogue of Messages
ISO 15022 sets the principles necessary to provide the different communities of users with the tools to design message types to support their specific information flows. These tools consist of a set of syntax and message design rules, a dictionary of data fields and a catalogue of messages built by the industry with the above mentioned fields and rules.
To address the evolving needs of the industry as they arise, the Data Field Dictionary and Catalogue of Messages have been kept outside the standard. They are made available by the Registration Authority which maintains them as necessary upon the request of industry participants.