ISO/TC 68 Financial Services Standards Best Practices

This document is a guide detailing the Standards Best Practices established by ISO/TC 68 for the development and maintenance of financial services standards. It outlines the necessity for consistent standards across various business domains, emphasizing interoperability and the grouping of standards by type and function. The guide presents principles for ensuring consistency in reference data standards, including the use of common notations and glossaries. It also discusses the allocation of unique Identifier codes and Classification codes, highlighting the importance of preventing duplicates and ensuring permanence. Additionally, the document addresses user requirements for access to these standards, advocating for no limitations on use or redistribution. It emphasizes the need for a dedicated repository for Identifier codes, accessible to users, with functionalities for search and download. The guide aims to provide a framework for ISO/TC 68 working groups to aspire to when developing and revising standards.