Market Infrastructures
One infrastructure, many participants
Participants migrate at different speeds
Some participants send ISO 20022, others still send MT. The infrastructure has to accept both without asking its core platform to understand each one.
Your rules on top of the standard
Market practice and usage guidelines narrow ISO 20022 for your market. Messages that break them should be stopped at the edge, not in settlement.
Core platforms speak their own format
Matching, settlement and clearing engines often work on proprietary XML, JSON or flat files. Every participant message has to be converted into them and back.
More than one network
Regulators and operators increasingly require participants to reach the infrastructure over more than one network channel.
Where Prowide stops and your core platform takes over
Handled by the Messaging Hub
Handled by your core platform
Use the Messaging Hub as a ready-made edge layer, or embed Integrator in your own platform when you build it in-house.
An edge layer for participant messaging
Your rules enforced at the edge
Participant messages are validated against SWIFT rules and your market usage guidelines, and you can add your own schemas for message types specific to your market.
Standards Compliance →Participants migrate when they are ready
Translation in both directions lets the infrastructure run ISO 20022 internally while participants still on MT keep working.
ISO 20022 Migration →More than one channel
Route participant traffic across SWIFT and domestic networks from one platform, with one archive and one audit trail.
Multi-Network Switch →APIs next to messaging
Expose REST endpoints to your internal systems and connect to SWIFT through Microgateway and Alliance Cloud alongside traditional channels.
API Connectivity →Receive, process, respond
| Flow | SWIFT MT | ISO 20022 | What the Hub does |
|---|---|---|---|
| Securities infrastructures | |||
| Participant settlement instructions | MT540 · MT541 · MT542 · MT543 | sese.023 | Accepted in either standard, validated and translated for the core platform |
| Status and confirmations to participants | MT548 · MT544 · MT545 · MT546 · MT547 | sese.024 · sese.025 | Produced in the standard each participant uses |
| Corporate actions and statements | MT564 · MT566 · MT535 · MT536 | seev.031 · seev.036 · semt.002 · semt.017 | Translation both ways |
| Payment infrastructures | |||
| Participant payments | MT103 · MT202 | pacs.008 · pacs.009 | Validation against your usage guidelines, and translation for participants not yet on ISO 20022 |
| Status and returns | MT199 · MT299 · MT103 and MT202 returns | pacs.002 · pacs.004 | Linked to the original payment by UETR or reference |
| Participant statements | MT940 · MT950 | camt.053 | Translation both ways |
| Core platform | |||
| Internal and proprietary formats | Any MT | Any MX | Custom mappings to and from proprietary XML, JSON, CSV and fixed-length formats |
Running dual connectivity for participants? See Multi-Network Switch.
Products for market infrastructures
Messaging Hub
A ready-made edge layer between your participants and your core platform.
Prowide Integrator
For infrastructures that build their participant gateway in-house: the message layer as a library.