SWIFT Standards Developer Kit case study - GEFEG · SWIFT Standards Developer Kit case study GEFEG...

SWIFT Standards Developer Kit case study GEFEG and Clearstream

SIBOS, Wednesday 16 September

About Clearstream

Clearstream is the established provider of settlement and custody services for domestic

and internationally traded bonds, equities and investment funds

2,500 customers in more than 100 countries, it maintains a leading position in the

international fixed income market with over EUR 10 trillion in AUC

Clearstream’s business depends on the automated exchange of precise and

unambiguous information with our customers

Market infrastructures face the ongoing challenge of ensuring standards compliance as

well as ensuring that their customers use standards in a way that is compatible with their

business processes

Background

Clearstream implements 1st release of an XML message standard - SWIFTNet Funds 3.0 in the Clearstream funds order routing solution Vestima+ (the first ISO 20022 enabled order routing messaging infrastructure)

Clearstream realises the ‘structure’ of XML lends itself to deriving efficiencies during the implementation of XML message standards

Clearstream approaches SWIFT to investigate jointly methods of providing XML standards specifications in a repository

SWIFT launches beta programme to validate the concept of a SWIFT Standards Repository for Implementers (SSRI)

During the beta programme, Clearstream realises potential of the GEFEG.FX design-time tool and the GEFEG message validation portal

SWIFT decides to package SSRI within SWIFT Standards Developer Kit (SDK)

SWIFT invites Clearstream and GEFEG to participate in the SDK pilot

2005 / 06

2007

2008

2009

The following slides are from the on-line demo given at SIBOS 2009.

GEFEG mbH - www.gefeg.com

Clearstream Requirements

1)To be able to reuse common customisations across multiple message schemas

Solution:Work with „normalised“ schemas at design-time then generate „self-contained“ schemas at production time

Benefit:Not having to redo and separately maintain the same customisations over and over for each message schema


Working with Normalised Schemas

Example business requirement:

“In a specific business context Clearstream supports only the „ISIN‟ and „Common code‟ elements for all fund messages.”

Message A Message B …

Id Id• The element „Id“ of complexType

„SecurityIdentification3Choice“ is generated in the production schemas as often as each individual message requires it.

• Thereby each message schema contains all required artifacts.

Self-contained schemas

Message A Message B

Id• All message schemas „include‟ a schema

containing the common complexTypesoriginating from ISO 20022 UML Message Components.

• The element „Id“ of complexType„SecurityIdentification3Choice“ exists only once and the business requirement needs to be described only once.

Normalised schemas

Design-time Production time


2) To be able to kick off schema customisations based on draft SWIFT schemas (usually published by SWIFT 10-12 months prior to each Standards Release (SR)) and then to be able to align these customisations with the final SWIFT schemas when published

Solution: Work with „Schema Guidelines“ instead of hard-coding customisations into XSD files and separate text documents

Benefit: Maintainability and safer early adoption


Schema Guideline - Native Working Mode of GEFEG.FX


Original schema

(paper sheet)

A schema guideline works like a transparent sheet overlaying a paper sheet.

Customisations are documented independently onto the transparent sheet instead of onto the underlying paper sheet.

Customisation

User view (GUI)

Customisation

(transparent sheet)

Technical view

E

E

E

E

E

Schema Guidelines


The advantage of XML over paper: Customisations can automatically re-align with the final schema due to the XML tags.

In case that XML tags or even the type hierarchy were changed from a schema to a later version of a schema (incompatible changes), then the tool helps to manually re-align customisations by drag & drop.


3) To be able to maintain context-specific restrictions and comments.

Solution: Work with schema documentation enhancements instead of maintaining separate text files or spreadsheets.

Benefit: Maintainability and safer early adoption because of single source principle.


Documentation Enhancement: Context Refinements


Example business requirement:

The block IndividualOrderDetails/CommissionDetails/WaivingDetails is mandatory only for SubscriptionOrderV03.

MinOccurs is increased from 0 to 1 for this specific context only. In other contexts the element “WvgDtls” remains conditional. This refinement has an impact on documentation and validation, but not on the “venetian blind” designed schema.

Context refinements like this are very often maintained in parallel documents, using XPath-like addressing, which is difficult and time-consuming to keep consistent with the schema. Using the single source approach as shown here avoids these problems.

The Workflow in Action

1. Import SWIFT MX Repository

2. Create normalised schemas

3. Create and refine schema guidelines

4. Deliver


Import SWIFT MX Repository

The SWIFT MX Repository is an XML file containing ISO 20022 UML classes: Data types, Business Components, Message Components and Messages.

GEFEG.FX is a desktop application for the development, customisation and documentation of UML classes, XSD schemas, EDI formats and for testing instances against specifications.

The imported SWIFT MX Repository generates normalised ISO 20022 schemas as the basis for their customisation.

Another View on ISO 20022 UML


ISO 20022 UML imported from SWIFT MX Repository and displayed in GEFEG.FX.

From our experience, the UML class representation as an instance-like tree makes it easier to under-stand the message structures and thereby facilitates communications between IT experts and the business stake-holders. It was designed to replace spreadsheets and text processors in meetings: information collected here is easy to understand, very precise and reusable.

In the presented scenario, the UML classes are used to generate normalised ISO 20022 schemas.

Export of Normalised Schemas


The ISO 20022 UML classes as imported from the SWIFT MX Repository are the source for the generation of the ISO 20022 normalised schemas.

Normalised Schemas


All reusable complex types and data types from the UML message components are collected together (literally „out sourced‟) into a schema named „MessageComponents“.

All message schemas „include‟ this common schema.

Schema Guidelines


Schema guidelines are annotated with the blue “S” symbol

A schema guideline is like a transparent layer over the original schema. It looks the same, but contains only extra customisation information.

If the base schema is replaced by a later version (e.g. from draft to final) all customisations are retained in the transparent layer and automatically aligned onto the newly updated base schema.

Fulfilling the Requirement Once …


Business Requirement: “In a specific business context Clearstream supports only the „ISIN‟ and „Common code‟ elements for all fund messages.”

This requirement is documented just once in the normalised schema guideline.

And Using it Twice Or More Often


RedemptionOrder SubscriptionOrder

Code Restrictions (Enumeration Values)


External code lists, if not present in the schemas, can be bound to simple types and can also be restricted to a value subset.

Cardinality Changes


User restricted values and original values are visible next to each other

The tool only allows true subset restrictions

User Comments „Notes“


Notes in GEFEG.FX are marked-up text as is XML itself.

User-defined notes can provide xsd:documentation with a more detailed structure.

User-defined notes can be used to suppress internal notes from external documentation or to generate internal documentation etc.

It’s Time to Deliver

Human-readable documentation

Self-contained, maintainable customised schema files for implementation

GEFEG.Validation.Portal


Human-Readable Documentation (Example)


Improved overview on the data and better understanding of the planned implementation as a result of marked-up, auto-generated documentation

Readability can be given priority enabling IT experts and business analysts to have a common base for communication.

Documentation production in non-proprietary, common file formats facilitates the distribution of the working results and final versions.

Customised Schema File for Implementation (XSD)


Output as an XSD file for implementers

Production of human readable documentation and machine readable output in the same software eliminates the need to maintain the same data in different tools.

Clearstream.Validation.Portal


Search… Load file

Internet-based message testing of final data improves the progress of external testing

Self-testing routine returns feedback immediately and provides the base for individual, fast error corrections.

The adoption time to market is shortened as business partners test individually.

http://www.gefeg.com/webchecker2/Docs/GEFEG/EDIFACT Orders.mig/en/index.htm

GEFEG in Action

XML Investment Funds German Market Practice specifications

www.smpg.info

(See Path: Documents Public Documents 4 Investment Funds

C. Final Country specifics Germany)

XML Investment Funds German Market Practice GEFEG.Validation.Portal

Link

http://www.smpg.info/

http://www.gefeg.com/webchecker2/webchecker.aspx?lang=en&proj=721

CHM File Documentation for German Market Practice


DESSUG Validation.Portal


Search… Load file

Take Away

If your business case requires

Reusable common customisations

Work with normalised schemas in the design-time of the implementation

Avoid repeated editing of the same customisation and thus eliminate an error source

To start with schema customisations of draft schemas and align them with later or final versions

Record your customisation in schema guidelines

increase maintainability and reach time-to-market earlier

Context-specific restrictions and comments

Specify this information as documentation enhancement

Profit from single-source approach: keep better track of changes and increase message specification quality


Single source for all specifications during project phases

Supporting all project phases

Enable earlier internal testing (after requirements analysis, before any code development)

Shorter overall MR project duration

Shorter time-to-market for enhancements and change requests

Amenable to tool support

Less error-prone

Reduce the lag of message standards behind business requirements

Benefits for Clearstream

!

One consistent documentation set covering ISO and Clearstream

message specifications

Testing can be spread over longer period: more flexible resource

allocation

Validation support for:

Compliance with ISO schema and Clearstream specifications

ISO business rules (not currently implemented in SWIFTNet

InterAct network validation)

Clearstream business rules

Message submission over the internet: SWIFTNet InterAct access

not required for business application testing

Benefits for Clearstream’s customers

!

Contact information

Frank Dreisch

CTO

GEFEG mbH

Storkower Str. 207

10369 Berlin, Germany

Phone +49-30-979914-65

Fax +49-30-979914-22

E-Mail [email protected]

Internet www.gefeg.com

Irene Mermigidis

SVP Product Management

Clearstream Banking

42 Avenue JF Kennedy

L-1855 Luxembourg

Phone +352-24-33-26-37

Mobile +352-621-16-10-87

E-Mail [email protected]

Internet www.clearstream.com

http://www.gefeg.com/

http://www.clearstream.com/

SWIFT Standards Developer Kit case study - GEFEG · SWIFT Standards Developer Kit case study GEFEG...

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