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ISO 20022
Universal financial industry message scheme

Governance

Group meeting

ISO TC 68/SC 9 is responsible for the management and oversight of the ISO 20022 standard

The Registration Management Group (RMG), Technical Support Group (TSG) and Standards Evaluation Groups (SEG) have been created to support the ISO 20022 registration process. In addition, the Cross SEG Harmonisation Group (CSH) has been created by the RMG to resolve harmonisation issues that exist across business  domains.

Oversight

Registration Management Group

Supervises the overall registration process and reports to ISO TC68/SC9.

Registration Authority

Ensure compliance of developed Repository items with the approved technical specifications

Business Domain Expert Groups

Standards Evaluation Groups

The ISO 20022 Standards Evaluation Groups (SEGs) are made up of industry experts in specific business domains of the financial industry as defined by the ISO 20022 Registration Management Group (RMG).

Business domains

Payments

Standards Evaluation Group

Business domains

Securities

 Standards Evaluation Group

Business domains

Cards and Related Retail Financial Services

Standard Evaluation Group

Business domains

Foreign Exchange

Standards Evaluation Group

Business domains

Trade Finance

Standards Evaluation Group

Business domains

API Resources

Standards Evaluation Group

The role of a SEG is threefold:

  • Ensure that the right industry groups are informed of proposed developments to ensure all business requirements will be addressed.
  • Validate the newly developed message definitions from a business perspective as representative of future users. This is to ensure that what will be posted in the ISO 20022 repository by the RA really addresses the needs of future communities of users as described in the business justification accepted by the RMG in the first place.
  • Approve changes to existing message definitions.

Technical Evaluation

TechnicalExperts

The Technical Support Group

Provides technical support to the other ISO 20022 registration bodies and the submitting organisations or communities of users

ISO 20022 Registration Bodies Governance Procedures

Know more about the ISO 20022 registration bodies governance.

Prepared by the ISO 20022 RMG Rules Sub-group and approved in October 2021

How to become a member of an ISO 20022 Registration Body ?

Membership of the ISO 20022 Registration Bodies - that is, the RMG, SEGs and TSG - is open to any entity that has an interest to participate so long as that entity fulfils the criteria of membership described on the membership page