What has (not) changed compared to the first edition of ISO 15022?
ISO 15022, second edition builds on the main concepts of the first edition and where necessary takes these concepts a step further: Short time to market: just like in the first edition the messages and message components are kept outside of the standard and are put under the control of registration bodies. Registration bodies: the second edition keeps the concepts of Registration Authority (for the daily maintenance of the ISO 15022 Repository) and Registration Management Group (as a body of appeal) but adds the concept of Standards Management Groups . There will be multiple Standards Management Groups and each Standards Management Group will be responsible for the business-oriented validation of all standards development related to a particular business area (e.g. securities pre-trade) and/or asset class (e.g. fixed income). Syntax independence: the second edition keeps the separation between business and physical representation . It introduces business modelling principles and formal
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