ECSDA views on migration to ISO20022

ECSDA views on migration to ISO20022

European CSDs support a coherent use of the same standard globally. At this stage, we see that earlier standards are more in use for securities communication across the globe. However, we note that several pan-European infrastructure projects and regulatory initiatives would expand further the use of ISO20022 in the upcoming years.
At the same time, given (i) the significant cost of migration for infrastructures and market participants across the globe and (ii) the relatively limited value-added of ISO 20022 versus the current 15022 for securities, we would advise not to urge a full global migration of all flows.
Should a ‘forced’ migration occur, the co-existence shall be limited.

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