Austraclear ISO 20022 Implementation Scheduled for November 2024

Austraclear is scheduled to adopt the SWIFT Standard ISO 20022 for the category 1, 2 and 9 messages in November 2024, in anticipation of the conclusion of SWIFT support for the co-existence of ISO 15022 MT and ISO 20022 MX category 1, 2 and 9 messages in November 2025.

Currently, Austraclear is capable of receiving ISO 20022 MX category 1 and 2 messages, which are subsequently translated into MT messages within the Austraclear system. Commencing November 2024 Austraclear will also be equipped to respond to MX messages directly, in addition to its continued support for the equivalent MT messages.

From November 2025, Austraclear will align with SWIFT global standards and cease to accept ISO 15022 MT category 1, 2 and 9 messages.

For further details on ISO 20022, please refer to the SWIFT website at https://www.swift.com/standards/iso-20022

Additionally, the Austraclear SWIFT MX message specifications for Austraclear ISO 20022 have been published and are available in SWIFT MY Standards. To access the SWIFT My Standards collections, participants must have user access on SWIFT.com. To register, please visit https://www2.swift.com/mystandards.

Summary of Changes for SWIFT Category 1, 2 and 9 Messages

The following MX Message Types will replace MT Messages

1.       ISO pacs.008 will replace the MT103 - Single customer credit transfer. Austraclear will send a pacs.002 for acceptance or rejection.

2.       ISO pacs.009 will replace the MT202 - Cash Payment General Financial Institution. Austraclear will send a pacs.002 message for acceptance or rejection

3.       ISO camt.057 will replace the MT210 - Cash Receipt (notice to receive). As there is no MX response message in CBPR+ network for the camt.057 Austraclear will continue to send MT298 message as a response.

4.       ISO camt.056 will replace MT192 & MT292 - cancellation of (MT103)/ pacs.008 and (MT202) /pacs.009. Austraclear will send a camt.029 for acceptance or rejection of camt.056. Austraclear does not currently send a confirmation of cancellation.

5.       ISO camt.058 will replace MT292 - cancellation of (MT210)/camt.057.  there is no response message in CBPR+ network for the camt.058 hence Austraclear will continue to send MT298 for acceptance or rejection of Camt.058) .Austraclear does not currently send a confirmation of cancellation.

6.       ISO camt.054 will replace both the MT900 - confirmation of debit (response to inward MT103 &MT202) and the MT910 - confirmation of credit (response to MT210)

Please refer to the attached for a detailed table of changes - link to table

What do I need to do by when?

Participants planning to exchange MX messages with Austraclear from November 2024 should review the Austraclear SWIFT MX message specifications. It is essential to confirm that your systems are equipped to send and receive MX messages in compliance with these specifications.

The Austraclear test environment is available now, allowing participants to send pacs.008, pacs.009, camt.057 and camt.056 MX messages. Commencing September 2024, participants will have the opportunity to conduct comprehensive testing of the entire suite of MX inward and outward messages.

Any feedback regarding this process should be submitted to Austraclear@asx.com.au

Need more information?

Issued by

Debt and Collateral Operations

Contact information

Any enquiries should be directed through to the Austraclear and ASX Collateral Service Desk on 1300 362 257 or via email to Austraclear@asx.com.au

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