ISO 20022 – Use in the US

ISO 20022 is in use by a growing number of US market participants including:

  • FX – CLS (Continuous Link Settlement) and its connected banks since July 2014.
  • Payments in the US
  • Corporate end users since October 2excerpt-2007.
  • Easily more than 2000 corporations (estimated) are now using this standard to connect to US banks for payment operations.
  • First piloted in 2003/4 by the RosettaNet community using a prototype version of the standard. ISO 20022 saw full use for corporate to bank communications by the end of 2007.
  • ISO 20022 is now the method of choice for ERP and TMS applications integration with banks
    Banks and payment systems:
  • In support of corporate end users and the requirements of payment systems and SWIFT globally as they adopt ISO 20022.
  • NACHA (National Automated Clearing House Association) – For remittance information
  • Fedwire and TCH – For wire transfers (high value payments). In planning for 2020 production.
  • Real Time Payments – In planning for TCH.
  • And globally
  • The Eurozone and the SEPA payment system (Single Euro Payment Area) is the first and largest use, the “poster child” for ISO 20022 payments.
  • A number of US trading partners are live or have plans to go live with ISO 20022 including: Australia, Canada, China, Japan, Eurozone, Singapore and others.
  • Securities
  • DTCC (The Depository Trust and Clearing Corporation) since 2012 for Corporate Actions. Growing use in the US and globally.
tristique non Sed Praesent Nullam id elit. eget venenatis dolor lectus et,