• "Transformer is an integral tool within our technology infrastructure, helping to further accelerate the speed to market as we on-board clearing banking partners in new countries" Head of Product Management, Earthport
  • "From watching the demo I am able to use the product straight away and create and test complex messages and mappings quickly and easily" Regulatory Reporting Authority
  • "We implemented a SWIFT message in half a day; the programmer said it would normally take him five days " Tier One Global FI
  • "Transformer … has enabled our business analysts and Quality Assurance team to create and comprehensively test financial message transformations" Capital Markets Service Provider and Reporting Authority
  • "Transformer’s ability to elegantly handle complex financial messaging scenarios is proof both of its power and of Trace's depth of understanding of the standards" SWIFT
  • "We are very happy to be working with Trace Financial" Vivek Awashti, Chief Technology Officer, Currencies Direct
  • "We think Transformer is a fantastic product and it is an integral part of our Enterprise Messaging strategy going forward" Major American FI
  • "We were able to create, test and deploy mappings that took three months in XSLT within three business days" Latin American software company
  • "Transformer gives us more flexibility to support the diversity of our rapidly-growing client base, and to ease the integration process for new clients " Head of Product Management, Earthport
  • "Using Transformer has simplified the process of working with multiple industry messaging standards" Integration Architect, U.K Investment Manager
  • "Transformer has brought a great deal of agility to the development of our next generation of payment frameworks, and also made it much more efficient" Vivek Awashti, Chief Technology Officer, Currencies Direct
  • "I am indeed impressed and have not experienced this level of support from a corporate vendor to date. Excellent choice!" Major South African FI
  • "Transformer has … allowed us to use analysts rather than developers to build our mappings, improving our time-to-market, reducing cost and increasing the quality of our solutions" Integration Architect, U.K Investment Manager
  • "With Transformer handling the complexity behind the integrations, our teams can concentrate on our payment product - instead of worrying about technical message transformations" Vivek Awashti, Chief Technology Officer, Currencies Direct
  • "With such a powerful tool in place we’re now thinking of extending our message conversion services to other business areas" Sergei Putyatinsky, CIO, NSD Moscow
  • "Independent tests scored Transformer at 100% for message transformation" SWIFT
  • "Transformer is the only messaging technology that we have found that really can be used by a business analyst" Major European Investment Manager
  • "The in-built testing capabilities of Transformer have allowed us to validate the integrity of new message formats … much more quickly, and with greater confidence" Capital Markets Service Provider and Reporting Authority

Target2-Securities (T2S) and MX

Target2-Securities (T2S), the pan-European securities settlements engine, was launched in 2015. T2S uses ISO 20022 (MX) message formats to communicate with its users - the CSDs, NCBs, and a range of Directly Connected Participants (DCPs). 

But to say simply that "T2S uses MX" is an over-simplification. The T2S documentation specifies a large number of rules governing the completion of the data fields of these messages. For a message to be valid for T2S, it must conform with all of these points. 

This is just how MX message standards are supposed to be used: organizations can define many kinds of restrictions to make the base ISO 20022 message schema manageable for a specific usage, including:

  • Suppression of an element that should not be used
  • Restriction in the number of times a repetitive element can repeat
  • Making an optional element mandatory
  • Restricting a choice to fewer options
  • Reducing the size of a text item

How does Transformer deal with such situations?

In the specific case of T2S, as the schema (.xsd) containing these restrictions has been published, the easiest route would simply be to import this schema directly into Transformer, automatically creating suitable message definitions.

More generally, it is straightforward in Transformer to define one or a series of 'validation rule sets', together with logic to determine which rule set(s) are used in any given situation. In this way the validation of a message can be tailored to suit a particular context or use case, which is more tighly defined than the baseline standard. 

Find out more about Transformer's functionality here

To discuss your particular requirements please contact us