Jim's Rant For The Day. A Recap Of ISO 20022. (with PS)

I believe this will change our financial world beginning this Monday.

This is an AI generated Recap:

ISO 20022 is an international standard for electronic financial messaging, designed to create a common global language for payments and financial data exchange. It uses modern XML technology to enable richer, more structured, and granular data to be carried end-to-end in payment messages, improving transparency, customer service, and the overall customer experience. The standard supports a wide range of financial services, including payments, securities, trade services, cards, and foreign exchange, and is being adopted by over 70 countries and most major financial market infrastructures.

The transition to ISO 20022 is a phased global rollout, with Swift beginning its migration for cross-border payments and reporting in March 2023. This was followed by additional releases in November 2023, November 2024, and November 2025, each introducing new usage guidelines and expanding functionality. A key milestone was the end of the MT/ISO 20022 cross-border coexistence period, which concluded on 22 November 2025, marking the official retirement of the legacy MT messaging standard for cross-border payments. As of November 2025, financial institutions are required to use ISO 20022 for cross-border payment instructions to ensure end-to-end interoperability and prevent data loss or truncation.

The adoption of ISO 20022 brings significant benefits, including improved automation, reduced manual intervention, enhanced compliance processes, better fraud prevention, and higher resilience. It enables more efficient sanctions screening by providing detailed, formatted data, leading to fewer false positives and faster payment processing. The standard also facilitates better data analytics, straight-through processing, and improved reconciliation, particularly in the securities industry. For example, Bank of America successfully implemented ISO 20022 messages for the Fedwire Funds Service in July 2025, enhancing interoperability with other global financial market infrastructures.

Despite the progress, challenges remain. As of November 2025, only about 40% of the Swift network is expected to be ISO 20022-compliant, with 75% of cross-border traffic still using legacy formats. This highlights the importance of timely migration, testing, and coordination with providers and technology vendors to avoid disruptions. Future milestones include the retirement of unstructured postal addresses in CBPR+ messages, which will be enforced starting in November 2026, requiring all addresses to be fully structured or hybrid.

     Source

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Jim's Note on the last Paragraph: That statement pertain to prior to Nov 25th.

Footnote 3 (from its Source) was written on April 24, 2025. Source of Magazine Article

Thus the statement by Dr. Michael Burry when asked "When will you get back into the markets?" And he responded, "After the 25th."

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PS. This is also why I believe the COMEX went down unexpectedly, "Due to Overheating" for exactly four hours yesterday, and Silver went from $53 to $56; last minute shoppers. I feel they were upgrading the software for Monday's ISO change. No more cheating.

See Also: Jim’s Daily Rant. Converting To The New Quantum Financial System.