ISO 20022 makes a clear distinction between the way of representing the elements of information (the standards itself) and the actual representation of this information in a format or a language (the syntax or coding) that the machine can interpret.Įach message is built along: a set of syntax and message design rules message components coding elements associated to the message components. The third layer, the syntax, is the physical representation of the logical message. Its methodology is based on concept of separate layers with the business and the logical messages making up two different layers. ISO 20022 is a common methodology used within the financial industry to create consistent messages across different subdomains of the industry.
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