SWIFT ISO15022 Standard
Detail view for message MT567 - Corporate Action Status and Processing Advice
Purpose of the message MT567
Indicates the status, or a change in status, of a corporate action-related transaction previously instructed by, or executed on behalf of, the account owner
Scope of the message MT567
This message is sent by an account servicer (account servicing institution) to an account owner or its designated agent. The account servicer may be a local agent (sub-custodian) acting on behalf of their global custodian customer, or a custodian acting on behalf of an investment management institution or a broker/dealer.
This message is used to advise the status, or a change in status, of a corporate action-related transaction previously instructed by, or executed on behalf of, the account owner. This will include the acknowledgement/rejection of a corporate action instruction or the acknowledgement/rejection of a request to cancel an outstanding instruction. It may also be used to provide a reason as to why a corporate action event has not been completed by the announced payment dates.
This message may also be used to:
- re-send a corporate action status previously sent
- provide a third party with a copy of the message.
Structure of the message MT567
Sequence A - General information [ mandatory, nonrepetitive ]
No.
Tag
Option
Name
Status
1
16R
Start of Block
M
Definition
This field specifies the start of a block and the name of that block.Format
| Option R | 16c |
2
20C
Reference
M
Definition
This qualified generic field specifies:| COAF | Official Corporate Action Event Reference | Official and unique reference assigned by the official central body/entity within each market at the beginning of a corporate action event. |
| CORP | Corporate Action Reference | Reference assigned by the account servicer to unambiguously identify a corporate action event. |
| SEME | Sender's Message Reference | Reference assigned by the Sender to unambiguously identify the message. |
Format
| Option C | :4!c//16x | (Qualifier)(Reference) |
3
23G
Function of the Message
M
Definition
This field identifies the function of the message.Format
| Option G | 4!c[/4!c] | (Function)(Subfunction) |
Codes
Function must contain one of the following codes:
Code
Meaning of the code
Cancellation Request Status: Message reporting on a cancellation request status.
Event Status: Message reporting on a corporate action event status.
Instruction Status: Message reporting on an instruction status.
Subfunction, when present, must contain one of the following codes:
Code
Meaning of the code
Copy Duplicate: Message is a copy to a party other than the account owner/account servicer, for information purposes and the message is a duplicate of a message previously sent.
Copy: Message is a copy to a party other than the account owner/account servicer, for information purposes.
Duplicate: Message is for information/confirmation purposes. It is a duplicate of a message previously sent.
4
22F
Indicator: Corporate Action Event Indicator
M
Definition
This qualified generic field specifies:| CAEV | Corporate Action Event Indicator | Specifies the type of corporate event. |
Format
| Option F | :4!c/[8c]/4!c | (Qualifier)(Data Source Scheme)(Indicator) |
Qualifier
| Order | M/O | Qualifier | R/N | CR | Options | Meaning |
|---|---|---|---|---|---|---|
| 1 | M | BOOK | N | F | Corporate Action Event Indicator |
Codes
If Data Source Scheme is not present, Indicator must contain one of the following codes:
Code
Meaning of the code
Trading Status: Active: Trading in the security has commenced or security has been re-activated after a suspension in trading.
Attachment: Combination of different security types to create a unit. Units are usually comprised of warrants and bonds or warrants and equities. Securities may be combined at the request of the security holder or based on market convention.
Repurchase Offer/Issuer Bid/Reverse Rights: Offer to existing holders by the issuing company to repurchase its own securities. The objective of the offer is to reduce the number of outstanding securities.
Bond Holder Meeting: Physical meeting of bond holders.
Bonus Issue/Capitalisation Issue: Bonus or capitalisation issue. Security holders receive additional assets free of payment from the issuer, in proportion to their holding.
Put Redemption: Early redemption of a security at the election of the holder subject to the terms and condition of the issue with no reduction in nominal value.
Bankruptcy: Legal status of a company unable to pay creditors. Bankruptcy usually involves a formal court ruling. Securities may become valueless.
Capital Distribution: The Corporate event pays shareholders an amount in cash issued from the Capital account. There is no reduction to the face value of a single share (or the share has no par value). The number of circulating shares remains unchanged.
Capital Gains Distribution: Distribution of profits resulting from the sale of company assets, for example, Shareholders of Mutual Funds, Unit Trusts, or Sicavs are recipients of capital gains distributions which are often reinvested in additional shares of the fund.
Capitalisation: Increase of the current principal of a debt instrument without increasing the nominal value. It normally arises from the incorporation of due but unpaid interest into the principal. This is commonly done by increasing the pool factor value, for example, capitalisation, and negative amortisation.
Non-US TEFRA D Certification: Non-US beneficial owner certification requirement for exchange of temporary to permanent notes.
Change: Information regarding a change further described in the corporate action details.
Class Action/Proposed Settlement: Situation where interested parties seek restitution for financial loss. The security holder may be offered the opportunity to join a class action proceeding and would need to respond with an instruction.
Court Meeting: Announcement of a meeting at a Court.
Consent: Procedure that aims to obtain consent of holder to a proposal by the issuer or a third party without convening a meeting. For example, consent to change the terms of a bond.
Conversion: Conversion of securities (generally convertible bonds or preferred shares) into another form of securities (usually common shares) at a pre-stated price/ratio.
Company Option: A Company Option may be granted by the company, allowing the holder to take up shares at some future date(s) at a pre arranged price in the company. A company may not grant options which enable the holder to take up unissued shares at a time which is five or more years from the date of the grant. Option holders are not members of a company. They are contingent creditors of a company and hence may, in some instances, be entitled to vote on and be bound by a scheme of arrangement between the creditors and the company. As many options have multiple exercise periods a company option will either lapse or carry on to the next expiry date.
Credit Event: An occurrence of credit derivative for which the issuer of one or several underlying securities is unable to fulfill his financial obligations (as defined in terms and conditions).
Decrease in Value: Reduction of face value of a single share or the value of fund assets. The number of circulating shares/units remains unchanged. This event may include a cash payout to holders.
Detachment: Separation of components that comprise a security, for example, usually units comprised of warrants and bond or warrants and equity. Units may be broken up at the request of the security holder or based on market convention.
Bond Default: Failure by the company to perform obligations defined as default events under the bond agreement and that have not been remedied.
Trading Status: Delisted: Security is no longer able to comply with the listing requirements of a stock exchange and is removed from official board quotation.
Drawing: Redemption in part before the scheduled final maturity date of a security. Drawing is distinct from partial call since drawn bonds are chosen by lottery and with no reduction in nominal value.
Cash Distribution From Non-Eligible Securities Sales: Distribution to shareholders of cash resulting from the selling of non-eligible securities, for example, in the frame of a depositary receipt program.
Dividend Reinvestment: Dividend payment where holders can keep cash or have the cash reinvested in the market by the issuer into additional shares in the issuing company. To be distinguished from DVOP as the company invests the dividend in the market rather than creating new share capital in exchange for the dividend.
Disclosure: Requirement for holders or beneficial owners to disclose their name, location and holdings of any issue to the issuer.
Dutch Auction: An action by a party wishing to acquire a security. Holders of the security are invited to make an offer to sell, within a specific price range. The acquiring party will buy from the holder with lowest offer.
Cash Dividend: Distribution of cash to shareholders, in proportion to their equity holding. Ordinary dividends are recurring and regular.
Dividend Option: Distribution of a dividend to shareholders with a choice of benefit to receive. Shareholders may choose to receive shares or cash. To be distinguished from DRIP as the company creates new share capital in exchange for the dividend rather than investing the dividend in the market.
Scrip Dividend/Payment: Dividend or interest paid in the form of scrip.
Stock Dividend: Dividend paid to shareholders in the form of equities of the issuing corporation.
Exchange: Exchange of holdings for other securities and/or cash. The exchange can be either mandatory or voluntary involving the exchange of outstanding securities for different securities and/or cash. For example "exchange offer", "capital reorganisation" or "funds separation".
Call on Intermediate Securities: Call or exercise on nil paid securities or intermediate securities resulting from an intermediate securities distribution (RHDI). This code is used for the second event, when an intermediate securities' issue (rights/coupons) is composed of two events, the first event being the distribution of intermediate securities.
Maturity Extension: As stipulated in a bond's Terms and Conditions, the issuer or the bond-holder may prolong the maturity date of a bond. After extension, the security may differ from original issue (new rate or maturity date). May be subject to bondholder's approval.
Warrant Exercise: Option offered to holders to buy (call warrant) or to sell (put warrant) a specific amount of stock, cash, or commodity, at a predetermined price, during a predetermined period of time (which usually corresponds to the life of the issue).
Increase in Value: Increase in the face value of a single security. The number of circulating securities remains unchanged.
Interest Payment: Interest payment distributed to holders of an interest bearing asset.
Liquidation Dividend/Liquidation Payment: A distribution of cash, assets or both. Debt may be paid in order of priority based on preferred claims to assets specified by the security.
Full Call/Early Redemption: The redemption of an entire issue outstanding of securities, for example, bonds, preferred equity, funds, by the issuer or its agent, for example, asset manager, before final maturity.
Annual General Meeting: Annual general meeting.
Merger: Exchange of outstanding securities, initiated by the issuer which may include options, as the result of two or more companies combining assets, that is, an external, third party company. Cash payments may accompany share exchange.
Non-Official Offer: Offers that are not supervised or regulated by an official entity and being offered by a party, for example a broker, usually at a discount price, for example broker offer, mini-tender, mini odd lot offer or third party offer.
Odd Lot Sale/Purchase: Sale or purchase of odd-lots to/from the issuing company, initiated either by the holder of the security or through an offer made by the issuer.
Ordinary General Meeting: Ordinary general meeting.
Other Event: Other event, use only when no other event type applies, for example, a new event type.
Pari-Passu: Occurs when securities with different characteristics, for example, shares with different entitlements to dividend or voting rights, become identical in all respects, for example, pari-passu or assimilation. May be scheduled in advance, for example, shares resulting from a bonus may become fungible after a pre-set period of time, or may result from outside events, for example, merger, reorganisation, issue of supplementary tranches, etc.
Partial Redemption With Reduction of Nominal Value: Securities are redeemed in part before their scheduled final maturity date with reduction of the nominal value of the securities. The outstanding amount of securities will be reduced proportionally.
Partial Defeasance/Pre-Funding: Issuer has money set aside to redeem a portion of an issue and the indenture states that the securities could be called earlier than the stated maturity.
Pay In Kind: Interest payment, in any kind except cash, distributed to holders of an interest bearing asset.
Place of Incorporation: Changes in the state of incorporation for US companies and changes in the place of incorporation for foreign companies. Where shares need to be registered following the incorporation change, the holder(s) may have to elect the registrar.
Instalment Call: An instalment towards the purchase of equity capital, subject to an agreement between an issuer and a purchaser.
Partial Redemption Without Reduction of Nominal Value: Securities are redeemed in part before their scheduled final maturity date without reduction of the nominal value of the securities. This is commonly done by pool factor reduction.
Interest Payment with Principal: An event which consists of two components, the decrease of the amortized value of a pool factor security and an interest payment.
Priority Issue: Form of open or public offer where, due to a limited amount of securities available, priority is given to existing shareholders.
Final Maturity: The redemption of an entire issue outstanding of securities, for example, bonds, preferred equity, funds, by the issuer or its agent, for example, asset manager, at final maturity.
Redenomination: Event by which the unit (currency and/or nominal) of a security is restated, for example, nominal/par value of security in a national currency is restated in another currency.
Remarketing Agreement: Purchase and sale of remarketed preferred equities/bonds through the negotiation of interest rate between the issuers and the holders.
Intermediate Securities Distribution: The distribution of intermediate securities that gives the holder the right to take part in a future event.
Rights Issue/Subscription Rights/Rights Offer: Offer to holders of a security to subscribe for additional securities via the distribution of an intermediate security. Both processes are included in the same event.
Shares Premium Dividend: This corporate event pays shareholders an amount in cash issued from the shares premium reserve. It is similar to a dividend but with different tax implications.
Smallest Negotiable Unit: Modification of the smallest negotiable unit of shares in order to obtain a new negotiable unit.
Spin-Off: A distribution of securities issued by another company. The distributed securities may either be of a newly created or of an existing company. For example, spin-off, demerger, unbundling, divestment.
Stock Split/Change in Nominal Value/Subdivision: Increase in a corporation's number of outstanding equities without any change in the shareholder's equity or the aggregate market value at the time of the split. Equity price and nominal value are reduced accordingly.
Reverse Stock Split/Change in Nominal Value: Decrease in a company's number of outstanding equities without any change in the shareholder's equity or the aggregate market value at the time of the split. Equity price and nominal value are increased accordingly.
Trading Status: Suspended: Trading in the security has been suspended.
Tender/Acquisition/Takeover/Purchase Offer: An offer made to holders by a third party, requesting them to sell (tender) or exchange their securities.
Tax Reclaim: Event related to tax reclaim activities.
Worthless: Booking out of valueless securities.
Withholding Tax Relief Certification: Certification process for withholding tax reduction or exemption based on the tax status of the holder.
Extraordinary or Special General Meeting: Extraordinary or special general meeting.
5
98a
A
Date/Time: Preparation Date
O
C
Definition
This qualified generic field specifies:| PREP | Preparation Date | Date on which message was prepared. |
Format
| Option A | :4!c//8!n | (Qualifier)(Date) |
| Option C | :4!c//8!n6!n | (Qualifier)(Date)(Time) |
Qualifier
| Order | M/O | Qualifier | R/N | CR | Options | Meaning |
|---|---|---|---|---|---|---|
| 1 | O | MAXP | N | A, C | Preparation Date |
Sequence A1 - Linkages [ mandatory, repetitive ]
No.
Tag
Option
Name
Status
6
16R
Start of Block
M
Definition
This field specifies the start of a block and the name of that block.Format
| Option R | 16c |
7
13a
A
Number Identification: Linked Message
O
B
Definition
This qualified generic field specifies:| LINK | Linked Message | Message type number or message identifier of the message referenced in the linkage sequence. |
Format
| Option A | :4!c//3!c | (Qualifier)(Number Id) |
| Option B | :4!c/[8c]/30x | (Qualifier)(Data Source Scheme)(Number) |
Qualifier
| Order | M/O | Qualifier | R/N | CR | Options | Meaning |
|---|---|---|---|---|---|---|
| 1 | O | EXPO | N | A, B | Linked Message |
8
20C
Reference
M
Definition
This qualified generic field specifies:| CACN | Case Number | Reference assigned by a court to a class action. |
| COAF | Official Corporate Action Event Reference | Official and unique reference assigned by the official central body/entity within each market at the beginning of a corporate action event. |
| CORP | Corporate Action Reference | Reference assigned by the account servicer to unambiguously identify a corporate action event. |
| PREV | Previous Message Reference | Message reference of the linked message which was previously sent. |
| RELA | Related Message Reference | Message reference of the linked message which was previously received. |
Format
| Option C | :4!c//16x | (Qualifier)(Reference) |
9
16S
End of Block
M
Definition
This field specifies the end of a block and the name of that block.Format
| Option S | 16c |
Sequence A2 - Status [ mandatory, repetitive ]
No.
Tag
Option
Name
Status
10
16R
Start of Block
M
Definition
This field specifies the start of a block and the name of that block.Format
| Option R | 16c |
11
25D
Status Code
M
Definition
This qualified generic field specifies:| CPRC | Cancellation Processing Status | Provides the status of a cancellation request. |
| EPRC | Corporate Action Event Processing Status | Provides the status of a corporate action or the status of a payment. |
| IPRC | Instruction Processing Status | Provides the status of an instruction. |
Format
| Option D | :4!c/[8c]/4!c | (Qualifier)(Data Source Scheme)(Status Code) |
Qualifiers (3)
| Order | M/O | Qualifier | R/N | CR | Options | Meaning |
|---|---|---|---|---|---|---|
| 1 | M | CLEA | N | C4 | D | Cancellation Processing Status |
| M | CPTA | N | C4 | D | Corporate Action Event Processing Status | |
| M | ETC1 | N | C4 | D | Instruction Processing Status |
Codes
If Qualifier is CPRC and Data Source Scheme is not present, Status Code must contain one of the following codes:
Code
Meaning of the code
Cancellation Completed: Cancellation request has been completed.
Pending Cancellation: Cancellation request is pending. It is not known at this time whether cancellation can be affected.
Accepted: Cancellation request has been accepted for further processing.
Rejected: Cancellation request has been rejected for further processing due to system (data) reasons.
If Qualifier is EPRC and Data Source Scheme is not present, Status Code must contain one of the following codes:
Code
Meaning of the code
Complete: Processing has been completed.
Pending: Processing has not been completed.
Reconciled: Indicates that the funds paid have been reconciled with the funds received from the Agent (meaning that there is no more risk of payment to be reversed).
If Qualifier is IPRC and Data Source Scheme is not present, Status Code must contain one of the following codes:
Code
Meaning of the code
Instruction Cancelled: Instruction has been cancelled.
Default Action: Default action is taken.
Accepted for Further Processing: Instruction has been accepted .This means that the instruction has been received, is processable and has been validated for further processing.
Pending: Instruction's processing is pending.
Rejected: Instruction has been rejected for further processing due to system reasons.
Standing Instruction: Standing instruction is applied.
Sequence A2a - Reason [ optional, repetitive ]
No.
Tag
Option
Name
Status
12
16R
Start of Block
M
Definition
This field specifies the start of a block and the name of that block.Format
| Option R | 16c |
13
24B
Reason Code
M
Definition
This qualified generic field specifies:| CAND | Cancellation Reason | Specifies the reason why the instruction is cancelled. |
| CANP | Cancellation Pending Reason | Specifies the reason why a cancellation request sent for the related instruction is pending. |
| PACK | Accepted Reason | Specifies additional information about the processed instruction. |
| PEND | Pending Reason | Specifies the reason why the instruction/event has a pending status. |
| REJT | Rejection Reason | Specifies the reason why the instruction/cancellation request has a rejected status. |
Format
| Option B | :4!c/[8c]/4!c | (Qualifier)(Data Source Scheme)(Reason Code) |
Qualifiers (5)
| Order | M/O | Qualifier | R/N | CR | Options | Meaning |
|---|---|---|---|---|---|---|
| 1 | M | LOTS | N | C1 | B | Pending Reason |
| M | NOMI | N | C1 | B | Rejection Reason | |
| M | BORR | N | C1 | B | Cancellation Reason | |
| M | BORR | N | C1 | B | Cancellation Pending Reason | |
| M | LINK | N | C1 | B | Accepted Reason |
Codes
If Qualifier is PEND and Data Source Scheme is not present, Reason Code must contain one of the following codes:
Code
Meaning of the code
Account Servicer Deadline Missed: Received after the account servicer's deadline. Processed on best effort basis.
Sent to Tax Authorities: For tax reclaim, the event is pending because the reclaim is sent to the tax authorities.
Pending Beneficiary Owner Details: Pending receipt of beneficiary owner details.
Incorrect Certification: Instruction is rejected since the provided certification is incorrect or incomplete.
Disagreement on Quantity: Unrecognised or invalid instructed quantity.
Lack of Securities: Insufficient financial instruments in your account.
Market Deadline Missed: Instruction was received after market deadline.
Missing or Invalid Certification: Awaiting receipt of adequate certification.
Insufficient Cash: Insufficient cash in your account.
Narrative Reason: See narrative field for reason.
Payment Not Made: Payment has not been made by issuer.
Securities Not Delivered: Financial instruments have not been delivered by the issuer.
Pending Receipt: The instruction is pending receipt of securities, for example, from a purchase, loan etc.
Valid for Tax Authorities: For tax reclaim, the event is pending, the tax reclaim is valid for the tax authorities.
If Qualifier is REJT and Data Source Scheme is not present, Reason Code must contain one of the following codes:
Code
Meaning of the code
Account Servicer Deadline Missed: Received after the account servicer's deadline.
Missing Beneficiary Owner Details: Rejected due to missing beneficiary owner details.
Cancelled: Option is not valid; it has been cancelled by the market or service provider, and cannot be responded to. Any responses already processed against this option are considered void and new responses will be required.
Incorrect Certification: Instruction is rejected since the provided certification is incorrect or incomplete.
Rejected Since Already Cancelled: Cancellation request was rejected since the instruction has already been cancelled.
Rejected Since In Progress: Cancellation request has been rejected because the instruction process is in progress or has been processed.
Quantity Rejection: Unrecognised or invalid instructed quantity.
Security Rejection: Unrecognised or invalid financial instrument identification.
Unrecognised Corporate Action Event Number Rejection: Unrecognised corporate action event number.
Instruction Irrevocable: The instruction is irrevocable.
Inactive: Option is not active and can no longer be responded to. Any responses already processed against this option will remain valid, for example, expired option.
Invalid for Tax Authorities: For tax reclaim, the reclaim is invalid for the tax authorities.
Lack of Securities: Instructed position exceeds the eligible balance.
Market Deadline Missed: Received after market deadline.
Narrative Reason: See narrative field for reason.
Mismatch Option Number and Option Type Rejection: Mismatch between option number and option type.
Option Number Rejection: Unrecognised option number.
Option Type Rejection: Invalid option type.
Refused by the Tax Authorities: Reclaim is refused by the tax authorities.
Safekeeping Account Rejection: Unrecognised or invalid message sender's safekeeping account.
Unknown: Linked reference is unknown.
If Qualifier is CAND and Data Source Scheme is not present, Reason Code must contain one of the following codes:
Code
Meaning of the code
Cancelled By Yourselves: Instruction has been cancelled as per your request.
Cancelled by Another Party: Instruction has been cancelled by another party than the instructing party, for example market infrastructure such as a Stock Exchange.
Cancelled By System: Instruction has been cancelled by the system.
Cancelled By Subcustodian: Instruction has been cancelled by the agent, for example, due to an event deadline extension.
Narrative Reason: See narrative field for reason.
If Qualifier is CANP and Data Source Scheme is not present, Reason Code must contain one of the following codes:
Code
Meaning of the code
Account Servicer Deadline Missed: Received after the account servicer's deadline. Processed on best effort basis.
Disagreement on Quantity: Unrecognised or invalid instructed quantity.
Market Deadline Missed: Received after market deadline.
Narrative Reason: See narrative field for reason.
If Qualifier is PACK and Data Source Scheme is not present, Reason Code must contain one of the following codes:
Code
Meaning of the code
Narrative Reason: See narrative field for reason.
Not STP: Instruction was not STP and had to be processed manually.
14
70D
Narrative: Reason Narrative
O
Definition
This qualified generic field specifies:| REAS | Reason Narrative | Provides additional reason information. |
Format
| Option D | :4!c//6*35x | (Qualifier)(Narrative) |
Qualifier
| Order | M/O | Qualifier | R/N | CR | Options | Meaning |
|---|---|---|---|---|---|---|
| 1 | O | NDIP | N | D | Reason Narrative |
15
16S
End of Block
M
Definition
This field specifies the end of a block and the name of that block.Format
| Option S | 16c |
16
16S
End of Block
M
Definition
This field specifies the end of a block and the name of that block.Format
| Option S | 16c |
17
16S
End of Block
M
Definition
This field specifies the end of a block and the name of that block.Format
| Option S | 16c |
Sequence B - Corporate Action Details [ optional, nonrepetitive ]
No.
Tag
Option
Name
Status
18
16R
Start of Block
M
Definition
This field specifies the start of a block and the name of that block.Format
| Option R | 16c |
Codes
This field must contain the following code:
Code
Meaning of the code
Corporate Action Details
19
13A
Number Identification: CA Option Number
C
Definition
This qualified generic field specifies:| CAON | CA Option Number | Number identifying the available corporate action options. |
Format
| Option A | :4!c//3!c | (Qualifier)(Number Id) |
Qualifier
| Order | M/O | Qualifier | R/N | CR | Options | Meaning |
|---|---|---|---|---|---|---|
| 1 | O | BOTB | N | C2 | A | CA Option Number |
20
22a
F
Indicator: Corporate Action Option Code Indicator
C
H
Definition
This qualified generic field specifies:| CAOP | Corporate Action Option Code Indicator | Specifies the corporate action options available to the account owner. |
Format
| Option F | :4!c/[8c]/4!c | (Qualifier)(Data Source Scheme)(Indicator) |
| Option H | :4!c//4!c | (Qualifier)(Indicator) |
Qualifier
| Order | M/O | Qualifier | R/N | CR | Options | Meaning |
|---|---|---|---|---|---|---|
| 1 | O | BPAR | N | C2 | F, H | Corporate Action Option Code Indicator |
Codes
In option F, if Data Source Scheme is not present, Indicator must contain one of the following codes:
Code
Meaning of the code
Abstain: Vote expressed as abstain. In this case, the issuing company will add the number of shares to the quorum of the meeting. If the voting right is not executed, it will not be added to the quorum. In this case, code NOAC should be used.
Vote Against Management: Vote against management.
Bonus Share Plan: Receive equities from the Share Premium Reserve of the company and considered as a capital distribution rather than a disbursement of income with different tax implications (typically found in Australia).
Buy Up: Buy additional securities to round up position.
Cash and Securities: Corporate action option includes a distribution of both cash and securities to holders.
Cash: Distribution of cash to holders.
Consent and Exchange: Vote to consent to change the terms of the securities agreement and to exchange securities.
Consent Denied: Vote not to approve the event or proposal.
Consent Granted: Vote to approve the event or proposal.
Consent and Tender: Vote to consent to change the terms of the securities agreement and to tender securities for cash.
Exercise: Exercise intermediate securities or warrants.
Lapse: Allow event or entitled security to expire.
Mark-Down: Mark down the global certificate as a result of a corporate action (instruction from ICSDs to common depositories who are holding the global certificate on behalf of the ICSDs.
Mark-Up: Mark up the global certificate as a result of a corporate action (instruction from ICSDs to common depositories who are holding the global certificate on behalf of the ICSDs).
Vote With Management: Vote with management.
Retain: An option that allows a holder to elect to retain their holding, for example, a putable bond.
No Action: Option for the account owner not to take part in the event. This would include opt-out for class actions and lodging of dissenters' rights.
Non Qualified Investor: The account owner is a Non-Qualified Investor.
Proposed Rate: In a remarketing of variable notes, the margin that shareholders can propose in respect of the next interest period.
Other: Generic corporate action option to be used in case that no other specific code is appropriate.
Oversubscribe: Subscribe to more equities than underlying securities position allows.
Proxy Card: Issue a proxy card in case of voting.
Unknown Proceeds: Proceeds not known during election period. The option can result in cash and/or securities.
Qualified Investor: The account owner is a Qualified Investor.
Securities Option: Distribution of securities to holders.
Sell Entitlement: Sell the intermediate securities.
Split Instruction: Option to give a split instruction, for example, a split voting instruction on a meeting.
Tax Instruction: Tax instruction.
In option H, Indicator must contain one of the following codes:
Code
Meaning of the code
Abstain: Vote expressed as abstain. In this case, the issuing company will add the number of shares to the quorum of the meeting. If the voting right is not executed, it will not be added to the quorum. In this case, code NOAC should be used.
Vote Against Management: Vote against management.
Bonus Share Plan: Receive equities from the Share Premium Reserve of the company and considered as a capital distribution rather than a disbursement of income with different tax implications (typically found in Australia).
Buy Up: Buy additional securities to round up position.
Cash and Securities: Corporate action option includes a distribution of both cash and securities to holders.
Cash: Distribution of cash to holders.
Consent and Exchange: Vote to consent to change the terms of the securities agreement and to exchange securities.
Consent Denied: Vote not to approve the event or proposal.
Consent Granted: Vote to approve the event or proposal.
Consent and Tender: Vote to consent to change the terms of the securities agreement and to tender securities for cash.
Exercise: Exercise intermediate securities or warrants.
Lapse: Allow event or entitled security to expire.
Mark-Down: Mark down the global certificate as a result of a corporate action (instruction from ICSDs to common depositories who are holding the global certificate on behalf of the ICSDs.
Mark-Up: Mark up the global certificate as a result of a corporate action (instruction from ICSDs to common depositories who are holding the global certificate on behalf of the ICSDs).
Vote With Management: Vote with management.
Retain: An option that allows a holder to elect to retain their holding, for example, a putable bond.
No Action: Option for the account owner not to take part in the event. This would include opt-out for class actions and lodging of dissenters' rights.
Non Qualified Investor: The account owner is a Non-Qualified Investor.
Proposed Rate: In a remarketing of variable notes, the margin that shareholders can propose in respect of the next interest period.
Other: Generic corporate action option to be used in case that no other specific code is appropriate.
Oversubscribe: Subscribe to more equities than underlying securities position allows.
Proxy Card: Issue a proxy card in case of voting.
Unknown Proceeds: Proceeds not known during election period. The option can result in cash and/or securities.
Qualified Investor: The account owner is a Qualified Investor.
Securities Option: Distribution of securities to holders.
Sell Entitlement: Sell the intermediate securities.
Split Instruction: Option to give a split instruction, for example, a split voting instruction on a meeting.
Tax Instruction: Tax instruction.
21
95a
P
Party: Account Owner
O
R
Definition
This qualified generic field specifies:| ACOW | Account Owner | Party that owns the account. |
In option R, Proprietary Code specifies a local national code or market segment code identifying the party.
Format
| Option P | :4!c//4!a2!a2!c[3!c] | (Qualifier)(Identifier Code) |
| Option R | :4!c/8c/34x | (Qualifier)(Data Source Scheme)(Proprietary Code) |
Qualifier
| Order | M/O | Qualifier | R/N | CR | Options | Meaning |
|---|---|---|---|---|---|---|
| 1 | O | ACOW | N | P, R | Account Owner |
22
97a
A
Account
O
E
Definition
This qualified generic field specifies:| CASH | Cash Account | Account in which cash is maintained. |
| SAFE | Safekeeping Account | Account where financial instruments are maintained. |
Format
| Option A | :4!c//35x | (Qualifier)(Account Number) |
| Option E | :4!c//34x | (Qualifier)(International Bank Account Number) |
23
94a
B
Place: Place of Safekeeping
O
C
F
Definition
This qualified generic field specifies:| SAFE | Place of Safekeeping | Location where the financial instruments are/will be safekept. |
Format
| Option B | :4!c/[8c]/4!c[/30x] | (Qualifier)(Data Source Scheme)(Place Code)(Narrative) |
| Option C | :4!c//2!a | (Qualifier)(Country Code) |
| Option F | :4!c//4!c/4!a2!a2!c[3!c] | (Qualifier)(Place Code)(Identifier Code) |
Qualifier
| Order | M/O | Qualifier | R/N | CR | Options | Meaning |
|---|---|---|---|---|---|---|
| 1 | O | OVEP | N | B, C, F | Place of Safekeeping |
Codes
In option B, if Data Source Scheme is not present, Place Code must contain one of the following codes:
Code
Meaning of the code
All Places of Safekeeping: Used when there is a need to indicate that the details apply to all places of safekeeping where the financial instrument is held.
Shares Held Elsewhere: Used for certain financial instruments, for example, US mutual funds, where settlement is internal only, that is, there is no external movement of securities.
In option F, Place Code must contain one of the following codes:
Code
Meaning of the code
Local Custodian: Financial instruments held at a local custodian.
International Central Securities Depository: Financial instruments held at an International Central Securities Depository.
National Central Securities Depository: Financial instruments held at a National Central Securities Depository.
Shares Held Elsewhere: Used for certain financial instruments, for example, US mutual funds, where settlement is internal only, that is, there is no external movement of securities.
24
35B
Identification of the Financial Instrument
O
Definition
This field identifies the financial instrument.Format
| Option B | [ISIN1!e12!c] [4*35x] | (Identification of Security) (Description of Security) |
25
36B
Quantity of Financial Instrument: Status Quantity
O
Definition
This qualified generic field specifies:| STAQ | Status Quantity | Quantity of securities that has been assigned the status indicated. |
Format
| Option B | :4!c//4!c/15d | (Qualifier)(Quantity Type Code)(Quantity) |
Qualifier
| Order | M/O | Qualifier | R/N | CR | Options | Meaning |
|---|---|---|---|---|---|---|
| 1 | O | PLED | R | C3 | B | Status Quantity |
Codes
Quantity Type Code must contain one of the following codes:
Code
Meaning of the code
Amortised Value: Quantity expressed as an amount representing the current amortised face amount of a bond, for example, a periodic reduction/increase of a bond's principal amount.
Face Amount: Quantity expressed as an amount representing the face amount, that is, the principal, of a debt instrument.
Unit Number: Quantity expressed as a number, for example, a number of shares.
26
19B
Amount
O
Definition
This qualified generic field specifies:| ATAX | Additional Tax Amount | Amount of additional taxes that cannot be categorised. |
| CAPG | Capital Gains Amount | Amount of money distributed as the result of a capital gain. |
| CHAR | Charges/Fees Amount | Amount of money paid for the provision of financial services that cannot be categorised by another qualifier. |
| CINL | Cash in Lieu of Shares | Cash disbursement in lieu of a fractional quantity of, for example, equity. |
| COUN | Country, National, Federal Tax | Amount of country, national or federal tax charged by the jurisdiction in which the account servicer is located. |
| EXEC | Executing Broker's Amount | Amount of money paid to an executing broker as a commission. |
| FLFR | Fully Franked Amount | Amount resulting from a fully franked dividend paid by Australian company; amount includes tax credit for companies that have made sufficient tax payments during the fiscal period. |
| GRSS | Gross Amount | Amount of money before any deductions and allowances have been made. |
| INCO | Income Portion | Amount relating to the underlying security for which income is distributed. |
| INDM | Indemnity Amount | (Unique to France) amount due to a buyer of securities dealt prior to ex date which may be subject to different rate of taxation. |
| INTR | Interest Amount | Amount of money representing a coupon payment. |
| ISDI | Issue Discount Amount | Amount of money defined as a discount on a new issue or on a tranche of an existing issue. |
| LEVY | Payment Levy Tax | Payment levy tax. |
| LOCL | Local Tax | Amount of tax charged by the jurisdiction in which the financial instrument settles. |
| LOCO | Local Broker's Commission | Local broker's commission. |
| MKTC | Market Claim | Amount of money resulting from a market claim. |
| NETT | Net Cash Amount | Amount of money after deductions and allowances have been made, if any, that is, the total amount +/- charges/fees. |
| PAMM | Paying/Sub-paying Agent Commission | Amount of paying/sub-paying agent commission. |
| PRIN | Principal or Corpus | Amount of money representing a distribution of a bond's principal, for example, repayment of outstanding debt. |
| REDP | Redemption Premium Amount | Amount of money (not interest) in addition to the principal at the redemption of a bond. |
| REGF | Regulatory Fees | Amount of money charged by a regulatory authority, for example, Securities and Exchange fees. |
| REIN | Reinvestment Amount | Amount of money reinvested in additional securities. |
| SHIP | Shipping | All costs related to the physical delivery of documents such as stamps, postage, carrier fees, insurances or messenger services. |
| SOFE | Solicitation Fee | Cash premium made available if the securities holder consents or participates to an event, for example consent fees or solicitation fees. |
| SOIC | Sundry/Other Income Amount | Amount of money related to taxable income that cannot be categorised. |
| SPCN | Special Concessions | Amount of drawdown or other reduction from or in addition to the deal price. |
| STAM | Stamp Duty | Amount of stamp duty. |
| STEX | Stock Exchange Tax | Amount of stock exchange tax. |
| SUBS | Additional Subscription Costs | Additional costs - coming on top of the subscription costs - which the subscriber should pay as per the subscription process. Not to be used for the subscription cost itself). |
| TAXC | Amount of Tax Credit | Amount of taxes that have been previously paid in relation to the taxable event. |
| TAXR | Withholding Tax Amount | Amount of a cash distribution that will be withheld by the tax authorities of the jurisdiction of the issuer, for which a relief at source and/or reclaim may be possible. |
| TRAN | Transfer Tax | Amount of tax levied on a transfer of ownership of financial instrument. |
| TRAX | Transaction Tax | Amount of transaction tax. |
| TXDF | Tax Deferred Amount | Amount of income eligible for deferred taxation. |
| TXFR | Tax Free Amount | Amount of income that has not been subject to taxation. |
| TXRC | Reclaim of Taxes | Amount that was paid in excess of actual tax obligation and was reclaimed. |
| UNFR | Unfranked Amount | Amount resulting from an unfranked dividend paid by a company; the amount doesn't include tax credit and is subject to withholding tax. |
| VATA | Value-Added Tax | Amount of value added tax. |
| WITL | Second Level Tax Amount | Amount of money withheld by the jurisdiction other than the jurisdiction of the issuer's country of tax incorporation, for which a relief at source and/or reclaim may be possible. It is levied in complement or offset of the withholding tax rate (TAXR) levied by the jurisdiction of the issuer's tax domicile. |
Format
| Option B | :4!c//3!a15d | (Qualifier)(Currency Code)(Amount) |
Qualifiers (39)
| Order | M/O | Qualifier | R/N | CR | Options | Meaning |
|---|---|---|---|---|---|---|
| 1 | O | BRCR | N | B | Capital Gains Amount | |
| 2 | O | ELIG | N | B | Indemnity Amount | |
| 3 | O | CANC | N | B | Cash in Lieu of Shares | |
| 4 | O | CANC | N | B | Charges/Fees Amount | |
| 5 | O | DENO | N | B | Fully Franked Amount | |
| 6 | O | REGI | N | B | Unfranked Amount | |
| 7 | O | REAS | N | B | Tax Free Amount | |
| 8 | O | REAS | N | B | Tax Deferred Amount | |
| 9 | O | PECA | N | B | Sundry/Other Income Amount | |
| 10 | O | DSPL | N | B | Gross Amount | |
| 11 | O | ESTT | N | B | Interest Amount | |
| 12 | O | EFFD | N | B | Income Portion | |
| 13 | O | HEAR | N | B | Market Claim | |
| 14 | O | INMH | N | B | Net Cash Amount | |
| 15 | O | MERE | N | B | Principal or Corpus | |
| 16 | O | NOMI | N | B | Reinvestment Amount | |
| 17 | O | PREV | N | B | Amount of Tax Credit | |
| 18 | O | PREX | N | B | Withholding Tax Amount | |
| 19 | O | REMU | N | B | Second Level Tax Amount | |
| 20 | O | NETT | N | B | Redemption Premium Amount | |
| 21 | O | ALMR | N | B | Additional Tax Amount | |
| 22 | O | CLAS | N | B | Country, National, Federal Tax | |
| 23 | O | DDTE | N | B | Executing Broker's Amount | |
| 24 | O | ETC2 | N | B | Issue Discount Amount | |
| 25 | O | EXEC | N | B | Payment Levy Tax | |
| 26 | O | EXVA | N | B | Local Tax | |
| 27 | O | FCOU | N | B | Local Broker's Commission | |
| 28 | O | LOCA | N | B | Paying/Sub-paying Agent Commission | |
| 29 | O | NETT | N | B | Regulatory Fees | |
| 30 | O | PAYA | N | B | Shipping | |
| 31 | O | PCTI | N | B | Solicitation Fee | |
| 32 | O | PEND | N | B | Special Concessions | |
| 33 | O | PLDT | N | B | Stamp Duty | |
| 34 | O | POOL | N | B | Stock Exchange Tax | |
| 35 | O | PRCV | N | B | Additional Subscription Costs | |
| 36 | O | PUTT | N | B | Transfer Tax | |
| 37 | O | PWAL | N | B | Transaction Tax | |
| 38 | O | REJT | N | B | Value-Added Tax | |
| 39 | O | RECT | N | B | Reclaim of Taxes |
27
93B
Balance
O
Definition
This qualified generic field specifies:| ELIG | Total Eligible for Corporate Action Balance | Total balance of securities eligible for this corporate action event. The entitlement calculation is based on this balance. |
| INBA | Instructed Balance | Balance of instructed position. |
| UNBA | Uninstructed Balance | Balance of uninstructed position. |
Format
| Option B | :4!c/[8c]/4!c/[N]15d | (Qualifier)(Data Source Scheme)(Quantity Type Code)(Sign)(Balance) |
Qualifiers (3)
| Order | M/O | Qualifier | R/N | CR | Options | Meaning |
|---|---|---|---|---|---|---|
| 1 | O | COVA | N | B | Total Eligible for Corporate Action Balance | |
| 2 | O | ECDT | N | B | Instructed Balance | |
| 3 | O | REFD | N | B | Uninstructed Balance |
Codes
If Data Source Scheme is not present, Quantity Type Code must contain one of the following codes:
Code
Meaning of the code
Amortised Value: Quantity expressed as an amount representing the current amortised face amount of a bond, for example, a periodic reduction/increase of a bond's principal amount.
Face Amount: Quantity expressed as an amount representing the face amount, that is, the principal, of a debt instrument.
Unit Number: Quantity expressed as a number, for example, a number of shares.
28
16S
End of Block
M
Definition
This field specifies the end of a block and the name of that block.Format
| Option S | 16c |
Codes
This field must contain the following code:
Code
Meaning of the code
Corporate Action Details
Sequence C - Additional Information [ optional, nonrepetitive ]
No.
Tag
Option
Name
Status
29
16R
Start of Block
M
Definition
This field specifies the start of a block and the name of that block.Format
| Option R | 16c |
Codes
This field must contain the following code:
Code
Meaning of the code
Additional Information
30
70E
Narrative
O
Definition
This qualified generic field specifies:| ADTX | Additional Text | Provides additional information or specifies in more detail the content of a message. This field may only be used when the information to be transmitted, cannot be coded. |
| PACO | Party Narrative | Provides additional information regarding the party, for example, the contact unit or person responsible for the transaction identified in the message. |
Format
| Option E | :4!c//10*35x | (Qualifier)(Narrative) |
31
95a
P
Party
O
Q
R
Definition
This qualified generic field specifies:| MEOR | Originator of Message | Party that originated the message, if other than the Sender. |
| MERE | Recipient of Message | Party that is the final destination of the message, if other than the Receiver. |
In option R, Proprietary Code specifies a local national code or market segment code identifying the party.
Format
| Option P | :4!c//4!a2!a2!c[3!c] | (Qualifier)(Identifier Code) |
| Option Q | :4!c//4*35x | (Qualifier)(Name and Address) |
| Option R | :4!c/8c/34x | (Qualifier)(Data Source Scheme)(Proprietary Code) |
32
16S
End of Block
M
Definition
This field specifies the end of a block and the name of that block.Format
| Option S | 16c |
Codes
This field must contain the following code:
Code
Meaning of the code
Additional Information