ISO 20022 for Market Infrastructures
ISO 20022 is now the preferred messaging standard across market infrastructures (MIs) around the world. With all major reserve currency high-value payments systems (HVPS) having completed their ISO 20022 adoption, the majority of global HVPS volumes are today exchanged using ISO 20022.
As the global payments community continues its transition to ISO 20022, a new milestone is on the horizon. The removal of unstructured postal addresses will be a key component of the SR 2026 standards release, planned for November 2026.
ISO 20022 for Market Infrastructures
ISO 20022 harmonisation
As ISO 20022 implementations continue to roll out across the globe, variations in the way ISO 20022 is deployed have increased. They allow the rich ISO 20022 standards to address evolving business requirements and varying market practices. To fully realise its value, it is essential to reinforce global alignment across these areas.
As part of our commitment to supporting the MI communities, the ISO 20022 Harmonisation Charter defines standard implementation templates and conventions, to which the majority of MIs have already agreed to align.
The success of the ISO 20022 harmonisation effort depends on strong engagement from the market infrastructure communities. If your organisation or community would like to learn more, please contact your account manager or regional representative.
Harmonisation Charter
Swift has launched an industry programme to ensure a cost effective and seamless adoption of ISO 20022 by Market Infrastructures and their communities.
The ISO 20022 Harmonisation Charter defines standard implementation templates and conventions, to which the majority of MIs have already agreed to align.
PMI usage guidelines and adoption timelines
PMIs are responsible for defining, maintaining and publishing their own Usage Guidelines (UGs). PMIs have the option to use Swift’s MyStandards platform to publish their UGs for consultation by their participants.
Participants should contact their PMI to receive information regarding the availability and publication of UGs, as well as the latest updates on the timeline of the migration project. We have developed the ISO Accelerator Pack based on global best practices, interoperable with cross-border payments.
Translation rules for MIs adopting ISO 20022
Participants should contact their PMI to receive information on the translation rules between the current domestic format and the ISO 20022 implementation. Some PMIs may publish this information on MyStandards, either as separate documents, or as textual rules within their ISO 20022 usage guidelines. For PMIs adopting the Swift ISO Accelerator Pack, a translation library, accompanied by translation documentation, is available for participants.
How can we help?
We are committed to making this transition as easy as possible for our community and provide consulting services to support you.
To support your operating environment in its adoption of ISO 20022, we have a comprehensive portfolio of flexible and customisable support and care services.