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The migration from SWIFT messaging platform ISO 7775 to ISO 15022 went into effect on November 18th, 2002 after a one-year transition period. The upgrade to 15022 was designed to accommodate the increased level of transaction and information sophistication currently required from custodians, investment managers and broker/dealers.

SWIFT ISO 15022 minimizes unformatted or optional information to better support straight through processing. It also enables message linking and streamlines message processing for both the sender and the receiver.

Citi is pleased to announce that our transition to SWIFT ISO 15022 was a success.

Further information on the new validations is available at the SWIFT website.