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Design - SWIFT Standards

SWIFT Standards

SWIFT develops message standards to support business transactions in the financial market.

MT messages Support all business segments and are used by SWIFT proprietary FIN messaging service for over 30 years.
MX messages Based on the ISO 20022 methodology and XML standards. MXs are progressively being introduced for new and existing market segments and are subject to supersede the MT messages after some co-existence period. Standard XML tools can be used to ease the parsing, validation and transformation of MX messages, which are conveyed through SWIFT InterAct and FileAct messaging services.

SWIFT Standards Developer Kit

The Standards Developer kit (SDK) provides a coherent set of electronic Standards resources designed to ease the implementation of ISO standards using up-to-date technology.

SWIFT User Handbook

SWIFT User Handbook describes in details the format and validation rules applying to all MT and MX messages.

The access to the User Handbook is free of charge for registered vendors and SWIFT users.

Business transactions

Most SWIFT solutions and industry initiatives use a combination of MT and MX messages to define business transactions. Your application will typically support one or several of these business transactions for one or several actors.

Alternate market standards, including FIX and FpML are also supported over SWIFT network. XBRL is in the pipe-line as well.