ADOPTION OF ISO15022 MESSAGE TO THE GATEWAY OF VSD

​Mr. Duong Van Thanh, General Director of VSD said, this is the result of more than 2 years preparation, with the participation of the Society for Worldwide Interbank Financial Telecommunication (SWIFT) and Financial Software Solutions Joint Stock company (FSS).

The system of telegram transaction is a new connectivity solution that allows the transactions operating on the VSD system and the members are exchanged directly with each other through the ISO15022 standard telegram. It helps the bussiness exchange process to be fast, accurate, safe and confidential.  According to General Director of VSD, the telegram transactions through STP system of VSD was advised by SWIFT and it was also assessed that fully ensure compliance with international market practices.  

In Vietnam, SWIFT is present since 1995 and has official partnerships with VSD from 2009. According to General Director of VSD, the cooperation objectives between VSD and SWIFT is together sharing knowledge of standards after the transaction and assisting each other for development. In the early years, the cooperation between two sides only stands at the exchange and learning the ISO standard telegram which has been applied in international transactions in the financial sector, securities and banking. However, from 2011 until now, VSD along with FSS has built STP system which allows the transactions operating on the core system of the members and directly transmitting to VSD through  the ISO standard telegram.

To organize the implementation of the ISO15022 standard telegram , VSD has issued Decision No. 79 / QD-VSD regulations guiding handle transactions via STP gateway. VSD General Director said, in the first deployment phase, there are 10 members qualifying the conditions of applying STP system include: SSI, BVSC, BSC, HSC, VNDS, KLS, SHS, VCSC FPTS, IVS. For other members, VSD will coordinate and support they join this system soon.