Message Customization and Organization Support for Target2-Securities

T2S Project Team uses GEFEG.FX Software

The Target2-Securities Project (T2S)

Target2-Securities (T2S) is a large infrastructure project launched by the Eurosystem, an association consisting of the European Central Bank and the national central banks of the EURO countries. When Target2-Securities will go live in 2015 it will provide a single pan-European platform for securities settlement in central bank money.

To cover the different cross-border securities settlement procedures 150 ISO 20022 message types will then be available for the participants. All these messages are published as external parts of the User Detailed Functional Specification (currently UDFS 1.2.1) - using GEFEG.FX.


Message Specification Made Easy: GEFEG.FX

Right from the beginning of the project the message developer teams of the 4 Central Banks (4CBs) Deutsche Bundesbank, Banco De Espana, Banque de France and Banca D'Italia have been using GEFEG.FX to elaborate Message Implementation Guidelines (MIGs) based on ISO 20022.

The GEFEG.FX guideline layer technology is a unique message development feature of the software saving a lot of time for the project team. The GEFEG.FX guideline layer works like a transparent sheet over a paper sheet. The guideline layer contains only the customization information while it is still connected to the underlying base schema. This principle allows exchanging the base schema with a newer version without losing the work already done. The look and feel for the user is nevertheless like being in one schema. In the Target2-Securities project the GEFEG.FX guideline layer principle has already made it easy to migrate to newer message versions during the past 3 years.

GEFEG.FX was also chosen by T2S message developers because of its single source principle. It lowers maintenance efforts compared with having to maintain many documents in parallel and keeping them in sync. Additionally it offers a great flexibility in customizing documentation.

GEFEG.FX Schema Guideline

This schema guideline further refines the base schema behind the black "B". It appears to be one piece, but physically contains 2 not used marks and 3 T2S-specific notes only.

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Collaboration with a central, version controlled repository

To facilitate collaboration, the project team of the 4 Central Banks opted for sharing the MIGs in a version control repository hosted by GEFEG. For security reasons, GEFEG repositories are not centralized by default and can also be installed behind user firewalls. The MIG repository enables to restore older versions, maintains a change log and avoids changing the same document accidentally by more than one user at the same time. Users can work offline in local working copies and lock the editing rights for other users until they check-in their working results and release the lock.

GEFEG.FX Repository

No schema is checked-out or changed here. Blue "S" encode a schema guideline document.

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Connecting to T2S: GEFEG.FX for Central Securities Depositories

T2S participants, the Central Securities Depositories (CSDs), appreciate the GEFEG.FX functionality to apply their specific corporate graphics in describing the interfaces to their customers and generating documentation. The single source principle of GEFEG.FX allows maintaining all information artifacts in one single point of truth, but to extract reader specific views from it, for example, internal or external views, or views which are specific to a certain market place or even customer. This also applies for guideline data published to the SWIFT.myStandards portal, using the GEFEG.FX export function.

Another major functionality of GEFEG.FX is to specify and document mappings to internal formats, such as Cobol Copybooks. Furthermore, the GEFEG.FX compare function does not only allow comparing whole messages, but also parts of them, for example, parts of a confirmation and a rejection message. Last but not least, GEFEG.FX allows to even extend ISO 20022 schemas by proprietary parts, which is often needed for EAI (Enterprise Application Integration) purposes.

GEFEG.FX also provides a direct interface to SWIFT myStandards. The user decides at the single source level of GEFEG.FX which pieces of information to publish, and which to keep private in the documentation and then export the result to the SWIFT myStandards portal.

Export to SWIFT MyStandards

Export from a GEFEG.FX schema guide to SWIFT MyStandards. Users can decide which information pieces to publish and which to keep local.

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