By developing reference data and messaging standards, we’re helping drive consistency across the industry
We’re committed to supporting standardisation within the industry. By exchanging unambiguous, machine-friendly data, institutions can benefit from greater automation, lower costs and reduced risk.
We’re working to achieve this by creating and maintaining standards for financial messaging and reference data.
We act as Registration Authority for several standards that define universal codes for common data items including:
- The ISO 9362 Business Identifier Code (BIC)
- ISO 13616 International Bank Account Number (IBAN) and ISO 10383 Market Identifier Code (MIC)
- We also play a role in formalising and implementing other reference data standards including ISO 17442 Legal Entity Identifier (LEI)
Business Identifier Code (BIC)
Used for addressing messages, routing business transactions and identifying business parties.
International Bank Account Number (IBAN)
Specifies the structure of ISO-compliant national IBAN formats, which facilitate automated cross-border payment transaction processing.
Legal Entity Identifier (LEI)
Used to enable the consistent and accurate identification of legal entities which are party to a financial transaction.