In addition to being the USA TAG, X9 is the Secretariat for the ISO TC68 committee, one of ISO's 200+ technical committees developing global financial industry standards, TC68 is the only ISO technical committee fully dedicated with its sole mission of financial industry standards. Since 1948, members of the financial industry collaborated under the International Organization for Standardization (ISO) banner to develop technical standards for the banking industry to use on a global basis. TC68 is made up for three subject matter subcommittees. The ISO 20022 UNIFI RMG reports to TC68 as well
ASC X9 is the Secretary of the 20022 RMG and includes approved voting members in the ISO 20022 Registration Management Group (RMG) made up of senior industry experts nominated by ISO TC68. The RMG is the highest UNIFI registration body: it monitors the overall registration process and reports directly to ISO TC68. The RMG defines the scope of necessary standards evaluation groups (SEGs) and approves business justifications for new messages or updates to existing messages, and allocates them to one or more SEGs. The RMG was created in 2004. The ISO 20022 website is www.iso20022.org.
SC2 is assigned to work on Security Management and General Banking Operations. This includes the development of standards involved with safeguarding and securing the operations within financial institutions worldwide. Presently, SC 2 is comprised of a number of Working Groups (WG's) involved in financial messaging, security systems based upon biometrics and encryption technologies, as well as information processing, and other security information and guidelines. The USA - X9 is the Secretariat of SC2.
SC 4 has a scope of work pertaining to financial securities and related financial instruments. Its four Working Groups prepare technical standards on the classification of financial instruments, the identification of business entities, integration of XML in securities transactions and market data modeling.
Standardization in the field of core banking which covers the basic banking functions of deposit taking, lending, account maintenance and the payment execution process associated with operating a bank account.
Where appropriate, X9 proposes its American National Standards as international standards. ISO's Technical Committee 68 (TC68) Financial Services is the global counterpart to ASC X9 and works toward developing worldwide technical standards for all financial service providers. ASC X9 is an experienced and enthusiastic participant in the ISO-based development of standards, and represents one of more than 30 countries working toward global standards development. ANSI accredited X9 as the USA Technical Advisory Group (USA/TAG) to the ISO committee for Financial Services (TC68). X9 votes on TC68 development and adoption of international standards that support the financial industry. X9 approves delegates who represent the US in international meetings and participate in the international development process. In addition, X9 serves as Secretariat to TC68 as the administrator of the ISO TC68 organization.