ISO 15022-Securities — Scheme for messages (Data Field Dictionary)
ISO 15022-Securities — Scheme for messages (Data Field Dictionary) is a standard set of rules that describes the structure of securities data fields in message bodies. It’s designed to be a common language for issuers, exchanges and regulators to use when exchanging securities information.
ISO 15022-1:1999(en) Securities — Scheme for messages (Data Field Dictionary) — Part 1: Data field and message design rules and guidelines
Data fields and messages are designed to store information about securities transactions. They are used to facilitate the transmission of securities-related information between participants in a securities market.
Data fields and messages must be well-formed and conform to the rules and guidelines set out in this blog post. Failure to do so can lead to errors during the transmission of securities-related information.
ISO 15022-2:1999 Securities — Scheme for messages (Data Field Dictionary) — Part 2: Maintenance of the Data Field Dictionary and Catalogue of Messages
The Data Field Dictionary is a database that contains the definitions of all the message fields in ISO 15022-2. This database is updated as new messages are introduced into the standard, and it is also used to maintain the catalogue of messages.
As this standard has evolved, however, it has become unnecessary to maintain a separate data field dictionary. Instead, all the message fields in this standard are now defined in one place, which is known as the Data Field Dictionary.
The catalogue of messages is a list of all the messages in ISO 15022-2. It includes information such as the name of the message, the type of message, and the description of the message. The catalogue of messages is important because it allows you to search for specific messages without having to search through all the message fields in this standard
What are the requirements of ISO 15022-Securities ?
It is the international standard specifying a schema for the definition of security-related data fields.
The schema defines the structure of security-related data fields and their format. It also defines rules for their content, including the type of data that can be stored in a field, the permitted values for that data, and the syntax used to represent that data.
The schema is implemented as a subset of XML Schema Definition (XSD) 2.0. This means that it is possible to create tools that can validate security-related data against the schema, and it is also possible to generate XML documents that conform to the schema.
Requirements for ISO 15022-Securities
– The schema must be usable as a library component in programming languages that support XSD 2.0;
– The schema must be extensible;
– Also, The schema must be well-documented;
– The schema must be freely available;
– The schema must be portable;
– At Last, The schema must be robust;
What are the benefits of this standard ?
This standard offers a number of benefits that can be useful in business. These benefits include the ability to easily exchange information between organizations, the ability to create and use standard formats for data, and the ability to validate data fields.
It is an international standard that was developed to help organizations exchange information more easily. Thus, This standard provides a common format for data fields, which makes it easier for organizations to exchange information.
Additionally, it can help to validate data fields. This validation ensures that the data is accurate and complete. Finally, this standard can also be used to create and use standard formats for data. This makes it easier for organizations to read and understand data.
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