Standard

CBPR+

ISO 20022 – The new (old) standard

ISO 20022 (MX) messaging is making rapid progress. Adoption is being driven forward by a wide range of major projects, such as 

  • CBPR+
  • Target2
  • Euro1
  • Lynx
  • CHATS
  • MEPS+
  • HVPS+

But given the huge numbers of financial institutions that still rely on ISO 15022 (MT) messaging, the larger and more globally oriented banks will need to support both MT and MX for some years. This is ‘coexistence’, and its most challenging aspect is the need to reliably and accurately convert between MT and MX formats in both directions.  For example, TARGET2 has migrated to MX, but its participant banks continue to communicate with many correspondent banks using MT formats.

Many banks also have legacy systems which can only handle MT messages, so MT-MX conversions are needed internally.

Transformer offers a complete solution which fully solves the complex issues involved in bi-directional mapping between MT and MX formats. 


Ready-built MT-MX Mappings 

Building on Transformer’s powerful capabilities in SWIFT messaging, Transformer for MT-MX comprises the complete set of both ISO15022 and 20022 (MT and MX) message definitions, along with completely realised mappings for numerous MT-MX pairs. These mappings use a range of special mapping functions created by Trace Financial to handle the conversion of the most complex message components.

A complete solution to MT-MX coexistence has to be both customisable, to address the specific needs of each organisation, and maintainable, to allow for future changes in the standards.

Transformer’s MT-MX mappings are easy to customise and maintain. Transformer requires no coding and keeps technical formatting such as tags in the background. This means that the analyst or developer can design and build changes to the mappings directly, with no error-prone hand-off to a separate coding team.  

For MT-MX coexistence Transformer offers a complete and robust solution that is available today.  


CBPR+ Compliant

Transformer was one of the first vendor’s to be certified as “CBPR+ ready by Swift in July 2020

https://www.swift.com/standards/iso-20022/iso-20022-programme/iso-20022-vendors/iso-20022-self-attestation-tests-payments?page=1


Mappings inventory 

The following is a list of the MT-MX transformations currently implemented in the Transformer MT-MX Mappings Library. Additional message pair mappings can be provided on request:

Payments and statements, MT to MX

MTMX
MT101pain.001.001.xx
MT103 Corepacs.008.001.xx
MT103 STPpacs.008.001.xx
MT202pacs.009.001.xx
MT202COVpacs.009.001.xx
MT900camt.054.001.xx
MT910camt.054.001.xx
MT940camt.053.001.xx
MT941camt.052.001.xx
MT942camt.052.001.xx
MT950camt.053.001.xx

Payments and statements, MX to MT

MXMT
pain.001.001.xxMT101  
pacs.008.001.xxMT103 Core
pacs.009.001.xx MT202
pacs.009.001.xxMT202COV

Funds, MT to MX

MTMX
MT502 REDMsetr.004.002.xx
MT502 SUBS  setr.010.002.xx
MT509 INSTsetr.016.002.xx
MT515 REDMsetr.006.002.xx
MT515 SUBS setr.012.002.xx

Funds, MX to MT

MXMT
setr.004.002.xxMT502 REDM
setr.006.002.xxMT515 REDM
setr.010.002.xxMT502 SUBS
setr.012.002.xxMT515 SUBS
setr.016.002.xxMT509 INST

Settlement and Reconciliations, MT to MX

MTMX
MT540sese.023.002.xx
MT541sese.023.002.xx
MT541sese.036.002.xx
MT542sese.020.002.xx
MT542sese.023.002.xx

Settlement and Reconciliations, MX to MT

MXMT
sese.023.002.xxMT540 
sese.024.002.xxMT548
sese.025.002.xxMT544
sese.025.002.xxMT545

Corporate Actions, MT to MX

MTMX
MT564seev.031.002.xx
MT564seev.039.002.xx
MT565seev.033.002.xx
MT566seev.036.002.xx
MT566seev.037.002.xx

Corporate Actions, MX to MT

MXMT
seev.031.002.xxMT564
seev.033.002.xxMT565
seev.036.002.xxMT566
seev.040.002.xxMT565