The Market Infrastructures of the top ten currencies around the globe are either already using the new format or are migrating to ISO 20022 in the coming years. The below graphic provides a brief overview of this shift.
Open the Market Infrastructure Changes PDF†
During the coexistence period (from March 2023 to 2025), if an MX message is received, Barclays will send as MX. Likewise, if an MT message is received, Barclays will send as MT (unless settling across a Market Infrastructure that has migrated to ISO). Therefore, please be aware that you will receive a mixture of MX & MT messaging from Barclays until 2025.
For GBP payments, please refrain from using the MX format until June 2023 to avoid truncation issues.
Please note: Migration timelines are subject to changes based on industry developments and specific market guidance. Barclays does not accept liability for the accuracy of the dates mentioned.