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ISO 20022 is an ISO standard for electronic data interchange between financial institutions. It describes a metadata repository containing descriptions of messages and business processes , and a maintenance process for the repository content.
The original message types were developed by SWIFT and a subset was retrospectively made into an ISO standard, ISO 15022. In many instances, SWIFT message types between custodians follow the ISO standard. [1] This was later supplemented by a XML based version under ISO 20022.
ISO 15022 is an ISO standard for securities messaging used in transactions between financial institutions. Participants in the financial industry need a common representation of the financial transactions they perform and this standard defines general message schema, which in turn are used by organizations to define messages in a complete and unambiguous way. [1]
Reports must be submitted within 30 days of a quarter end, in a defined XML format [15] which is defined by an XML schema issued by the EU Commission. The information required is generally consistent with data available through payment systems such as ISO 20022. and Card Transaction Data used by payment card services.
The MT formats (Message Types, MT) currently used in the SWIFT community, which also include MT940, are to be replaced in the long term by the XML formats described in the ISO 20022 standard to achieve global unification (see also de:Camt-Format).
Many banks in the US let customers use personal financial management software to automatically download their bank statements in OFX format, but most Canadian, [7] [8] [9] United Kingdom and Australian banks do not allow this, however, many banks do support downloading financial data in OFX, QFX, QIF, or spreadsheet format via their web interface for later import into financial software.
The XML Metadata Interchange (XMI) is an Object Management Group (OMG) standard for exchanging metadata information via Extensible Markup Language (XML). It can be used for any metadata whose metamodel can be expressed in Meta-Object Facility (MOF) , a platform-independent model (PIM).
For example, 3.14 will be serialized to 3.140 000 000 000 000 124 344 978 758 017 532 527 446 746 826 171 875. ^ XML data bindings and SOAP serialization tools provide type-safe XML serialization of programming data structures into XML. Shown are XML values that can be placed in XML elements and attributes.