ISO 15022-1:1999

Overview

ISO 15022-1:1999 - Securities - Scheme for messages (Data Field Dictionary) - Part 1: Data field and message design rules and guidelines - defines the rules and structure for building securities industry messages. It specifies the Enhanced ISO 7775 syntax, the organization and content of the Data Field Dictionary, and the Catalogue of Messages for securities messages. The standard supports cross-references to EDIFACT (ISO 9735) but does not duplicate EDIFACT syntax. ISO 15022-1 is intended for electronic data interchange (EDI) between securities market participants and is network-independent; network-specific transmission, acknowledgement and protection rules are out of scope.

Key topics and requirements

• Enhanced ISO 7775 syntax and lexical format
  • Principles for message independence and unambiguous field tagging.
  • Character set and lexical format guidance (references include ISO/IEC 646, ISO/IEC 8859-1, ISO/IEC 10646-1).
• Data Field Dictionary
  • Structure and contents for standardized data fields, including discrete and generic fields, composite and simple elements, qualifiers, and data source schemes.
  • Rules for accessing, registering and maintaining field definitions via a Registration Authority.
• Catalogue of Messages
  • Organization of message types, message descriptors, versioning and sub-formats to support market-specific versions.
  • Guidance for mapping between Enhanced ISO 7775 and EDIFACT message constructs.
• Design rules and message construction
  • Message structure rules, use of field tags, qualifiers, blocks and repeatable constructs.
  • Focus on enabling straight through processing (STP) by making business requirements explicit within message definitions.
• Maintenance and governance
  • The standard delegates ongoing maintenance to a Registration Authority and describes maintenance in ISO 15022-2.

Applications and users

ISO 15022-1 is used by:

• Securities firms, custodians, depositories and clearing houses implementing standardized securities messages.
• Systems architects and message designers creating market-specific message types while maintaining interoperability.
• Vendors of trading, settlement and back-office systems implementing EDI formats for trade confirmations, settlement instructions, corporate actions and related workflows.
• Industry groups creating new message types: they use the Data Field Dictionary and Catalogue to register fields and avoid duplication.

Practical benefits:

• Enables consistent message design and versioning across market participants.
• Facilitates migration to EDIFACT where required and promotes STP by reducing bilateral interface rules.

Related standards

• ISO 9735 - EDIFACT application-level syntax rules (referenced for EDIFACT mapping)
• ISO 15022-2 - Maintenance of the Data Field Dictionary and Catalogue of Messages
• Historical references: ISO/TR 7775 and ISO 11521 (predecessors)

Keywords: ISO 15022-1, Data Field Dictionary, Enhanced ISO 7775, EDIFACT, securities messages, message design rules, Catalogue of Messages, electronic data interchange, straight through processing.