ISO 20022

ISO 20022

What Is ISO 20022?

ISO 20022 is a globally accepted standard for creating messages for the financial services industry. These messages may convey various types of transactions, for example a payment instruction, or information such as an account statement between the parties involved.

Customer-Bank Messages

On behalf of the Payments Committee Switzerland (PaCoS), recommendations for a Swiss market practice (Swiss Payment Standards) for customer-bank data exchange are being formulated and published based on the ISO 20022 messages. They cover the business areas of cash management reporting and payment instruction placement.

In addition to the Swiss Interbank Clearing (SIC/euroSIC) regulations, the Swiss Payment Standards (SPS) also take into account the requirements of the European Payment Council for SEPA and for cross-border payments via the SWIFT network.

Swiss Payment Standards

The Swiss Payment Standards (SPS) are summarized in the Business Rules and Implementation Guidelines (IGs). Every November an ordinary standard release takes place. An overview of the currently valid versions and from February the versions for the next release is presented below.

The older versions are available in the archives.

The new versions of the SPS 2024 documents will be published at the end of February 2024.

The Swiss financial institutions guarantee the following interface compatibility: that they will support the latest "Major" version of the Implementation Guidelines published by SIX Interbank Clearing plus the preceding version.

Due to the message version change with SPS 2022, a three-year parallel use was agreed for the SPS 2021 IGs until November 2025.

Change requests can be submitted via at any time.

Interbank Messages

The "Implementation Guidelines for ISO 20022 Interbank Messages", which contain the rules mutually agreed upon by Swiss interbank governance bodies and committees, are binding for all SIC and euroSIC participants.

These Implementation Guidelines are an integral part of the SIC/euroSIC Handbook and therefore also part of the specification for participation in these systems. Further information on formal, operational and technical aspects of participation in the SIC or euroSIC system are available on the password-protected extranet of SIX Interbank Clearing Ltd.

Implementation Guidelines

A modular approach is used for the structure of the Implementation Guidelines. They consist of a base document with general information concerning all message types, and several module documents – one each per ISO 20022 message type or use case – with message-specific information, including information on the application-specific handling of individual elements. These specify how the messages are to be submitted to and received from the RTGS systems SIC and euroSIC using the ISO 20022 message standard.

The older versions are available in the archives.

The new versions of the Implementation Guidelines for the SIC Platform Release 4.11 (valid as of November 2024) will be published at the end of February 2024.

The content of the SIC Platform Release 4.10 dated 17 November 2023, which has been defined and approved by the governing interbank committees, was announced by means of an official circular letter (incl. Release Notes, dated 20 February 2023, errata as of 22 May 2023) and published on the password-protected extranet of SIX Interbank Clearing Ltd.