FPL, FpML, ISITC, SWIFT, XBRL and FISD Agree ISO 20022 Roadmap
FIX Protocol Ltd (FPL), Financial Products Markup Language (FpML), International Securities Association for Institutional Trade Communication (ISITC), Society for Worldwide Interbank Financial Telecommunication (SWIFT), XBRL (Extensible Business Reporting Language) US and Financial Information Services Division of SIIA (FISD), have published their updated investment roadmap. The roadmap’s purpose is to provide market participants consistent direction when using financial services messaging standards by visually mapping the protocols to their appropriate business processes across asset classes.
The roadmap lays the groundwork for moving towards one common business model, ISO 20022, while allowing the respective standards organisations to continue maintaining their existing protocols – FIX, ISO, FpML and XBRL.
Gerard Hartsink, senior executive vice president, ABN Amro, and convenor of the ISO 20022 Registration Management Group (RMG), said: “The investment roadmap is an important step in the harmonisation of the securities industry using the ISO 20022 business model and domain specific syntaxes. It is an idea that can be leveraged by other business areas to support their plans for ISO 20022 interoperability and adoption.”