MAINTENANCE CHANGE REQUEST
FOR THE UPDATE OF ISO 20022 FINANCIAL REPOSITORY ITEMS
VERSION 3 JULY 2014
A. Name of the request:
“Investment Funds Transfers Messages Maintenance 2014/2015”
B. Submitting organisation:
SWIFT
C. Related messages:
Under this project, the following ISO 20022 investment fund cash forecast (camt), account
management (acmt), statement (semt) and portfolio transfer (sese) messages will be maintained:
1.
2.
3.
4.
5.
6.
Message
Fund Estimated Cash Forecast Report V03
Fund Confirmed Cash Forecast Report V03
Fund Detailed Estimated Cash Forecast Report V03
Fund Detailed Confirmed Cash Forecast Report V03
Fund Detailed Confirmed Cash Forecast Report Cancellation V02
Fund Confirmed Cash Forecast Report Cancellation V02
Identifier
camt.040.001.03
camt.041.001.03
camt.042.001.03
camt.043.001.03
camt.045.001.02
camt.044.001.02
7.
8.
9.
10.
Account Opening Instruction V04
Account Details Confirmation V04
Account Modification Instruction V04
Request For Account Management Status Report V02
acmt.001.001.04
acmt.002.001.04
acmt.003.001.04
acmt.005.001.02
11.
12.
Statement Of Investment Fund Transactions V02
Statement Of Investment Fund Transactions Cancellation V02
semt.006.001.02
semt.007.001.02
13.
Securities Message Rejection
semt.001.001.01
14.
15.
16.
Portfolio Transfer Instruction V05
Portfolio Transfer Cancellation RequestV05
Portfolio Transfer Confirmation V05
sese.012.001.05
sese.014.001.05
sese.013.001.05
D. Commitments of the submitting organisation:
SWIFT confirms that it can and will:
-
undertake the development of the new version of the candidate ISO 20022 message
models that it will submit to the RA for compliance review and evaluation. For the ISO
20022 yearly maintenance cycle, new valid Message Definition models must be
available to the RA by December 1.
-
provide a new version of part 1 of the Message Definition Report (MDR) by December 1
and new examples of valid XML instances of each candidate message by May 1 at the
latest.
-
address any queries related to the description of the new models and messages as
published by the RA on the ISO 20022 website.
SWIFT confirms that it intends to organise the testing and the actual implementation of the new
version of the messages once the related documentation has been published by the RA.
SWIFT confirms its knowledge and acceptance of the ISO 20022 Intellectual Property Rights
policy for contributing organisations, as follows.
“Organisations that contribute information to be incorporated into the ISO 20022 Repository
shall keep any Intellectual Property Rights (IPR) they have on this information. A contributing
organisation warrants that it has sufficient rights on the contributed information to have it
published in the ISO 20022 Repository through the ISO 20022 Registration Authority in
accordance with the rules set in ISO 20022. To ascertain a widespread, public and uniform use
of the ISO 20022 Repository information, the contributing organisation grants third parties a
non-exclusive, royalty-free license to use the published information”.
E. Contact persons:
Janice Chapman – SWIFT Standards, mailto: janice.chapman@swift.com
PRELIMINARY NOTES
[1]
Each change request is identified first with its ISO 20022 change request number, followed
by a descriptive change request name, followed by the internal identification (ID) of the
organisation (SWIFT) carrying out the maintenance. This is to facilitate cross referencing.
[2]
The change requests are listed in the document hierarchically, in other words, following
the order in which the sequence or element appears in the message.
[3]
If, in the review meeting that discussed the acceptance or non-acceptance of the change
request concept, improvements to element names, definitions and so on, were suggested,
these are recorded in the ‘Impact Analysis’ section of the change request.
IMPLEMENTOR NOTES
[1] When an element is added or amended this means that a new version of the message
component in which the element is added or amended needs to be created. This kind of
specification is not specified for each change request.
For example, if changes are made to Other Identification, because, for example, an element
for Country Issuer is to be added, this means new versions of message components are
required in the tree structure, from the element that is attached to the ‘message node’ down
through the tree structure to the component in which the revision is to be made.
Thus, a change to an element within the Other Identification sequence, means that:
[1]
A new version of Generic Identification 44 needs to be created (and the revision
applied), the element Other Identification is then typed by this new version of ‘generic
identification’.
[2]
A new version of Individual Person 22 needs to the created, the element Individual
Person is then typed by this new version of ‘individual person’.
[3]
A new version of Party 16 Choice needs to be created, the element Party is then typed
by ‘party choice’
[4]
A new version of Investment Account Ownership Information 9 need to be created,
the element Primary Owner is then typed by this new version of ‘investment account
ownership information ‘. In this particular case, there are many other parties in the
message and if the change is applicable to all the other parties, the parties are also
typed by the new version of ‘investment account ownership information ‘
[5]
A new version of Account Parties 4 Choice needs to be created, the element Principal
Account Party is then typed by the new version of ‘account parties choice’.
[6]
A new version of Account Parties 9 needs to be created, the element Account Parties
is to be typed by this new version of ‘account parties’.
[2] When a new cross element rule is added, the rule is to be expressed as text and, if it is also
possible to represent it as a formal representation, then this is to be done.
ISO 20022 Investment Funds Maintenance 2015
Table of Contents
1
Summary List ......................................................................................................................... 5
2
CR0349 (semt) Change Multiplicity SubAccountDetails (ID 752) ............................................... 8
3
CR0348 (semt) Update Definitions Order Date and Reference (ID 753) ...................................10
4
CR0347 (semt) Replace XOR Construct with Choice Component (ID 754) ................................13
5
CR0388 (semt) Delete Rule + Replace XOR with Choice Component (ID 755) ...........................22
6
CR0352 (sese) Add optional element for Transfer Currency (ID 756) .......................................25
7
CR0386 (camt) Add optional elements for Hedge Share Class functionality (non-detailed
messages) (ID 757) ................................................................................................................31
8
CR0387 (camt) Add optional elements for hedge share class functionality (detailed messages)
(ID 758) ................................................................................................................................44
9
CR0441 (camt) Add optional balances for Hedge Share Class functionality (ID 759) .................65
10
CR0394 (camt) Update Definition Trade Date Time (ID 760) ...................................................73
11
CR0395 (camt) Add optional element for ‘Offshore’ (ID 761) ..................................................75
12
CR0342 (camt) Replace XOR Construct with Choice Component (ID 762) ................................79
13
CR0417 (acmt) Add optional ClientReference & CounterpartyReference (ID 763) ....................87
14
CR0398 (acmt) Add optional TransferReference (ID 764) ........................................................91
15
CR0422 (acmt) Add optional Country Issuer to AccountParties/Individual Person/Other
Identification (ID 765) ...........................................................................................................94
16
CR0423 (acmt) Add optional Type codes to AccountParties/Individual Person/Other
Identification (ID 766) ...........................................................................................................97
17
CR0424 (acmt) Add optional Tax elements to AccountParties/Organisation – Tax Identification
(ID 767) .............................................................................................................................. 101
18
CR0425 (acmt) Add optional FATCA Form Type to Party/Individual and
AccountParties/Organisation (ID 768) ................................................................................. 105
19
CR0426 (acmt) Add optional FATCA Status to AccountParties/Organisation & Party/Individual
person (ID 769) ................................................................................................................... 110
20
CR0421 (acmt) Add optional KYC Database Check to AccountParties/Investor Profile Validation
(ID 770) .............................................................................................................................. 116
21
CR0416 (acmt) Add optional Settler to AccountParties (ID 771) ............................................ 119
22
CR0418 (acmt) Add optional Status Of Plan to Savings & Withdrawal Investment Plan (ID 772)
122
23
CR0419 (acmt) Add optional Amount and Units to Savings & Withdrawal Investment Plan
Security Details (ID 773) ...................................................................................................... 125
24
CR0420 (acmt) Add optional Instalment Manager Role to Savings & Withdrawal
InvestmentPlan/Security Details - (ID 774)........................................................................... 128
25
CR0340 (acmt) Replace XOR Construct with Choice Component (ID 775) .............................. 131
26
APPENDIX ........................................................................................................................... 137
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ISO 20022 Investment Funds Maintenance 2015
1 Summary List
1.1
Changes to the Statement of Investment Fund Transactions messages
#
ISO 20022
RA ID
SWIFT
ID
Messages
Brief Overview
Submitter
Type of
change
1.
CR0349
752
semt.007
Change multiplicity SubAccountDetails to optional
SWIFT
Multiplicity
2.
CRO348
753
semt.006 + 007
Definition update Order DateTime, Order
Reference
SWIFT
Definition
3.
CRO347
754
semt.006 + 007
Replace XOR with choice component
SWIFT (ISO
alignment)
XOR
1.2
Changes to the Securities Message Rejection
#
ISO 20022
RA ID
SWIFT
ID
Message Types
Brief Overview
Submitter
Type of
change
4.
CR0388
755
semt.001
Delete rule ‘LinkedMessageReferenceRule’
SWIFT (ISO
alignment)
Rule
Replace XOR with choice component
1.3
STATUS
Changes to Portfolio Transfer Messages
#
ISO CR
Identifier
SWIFT
ID
Message Types
Brief Overview
Submitter
Type of
change
5.
CR0352
756
sese.012, 013 & 014
Add Transfer Currency
SWIFT + Findel
Optional
element
1.4
STATUS
STATUS
Changes to the Fund Cash Forecast Messages
#
ISO CR
Identifier
SWIFT
ID
Message Types
Brief Overview
Submitter
Type of
change
6.
CR0386
757
camt.040, 041 & 044
(non-detailed)
Add elements for hedge share class functionality
SWIFT + IMA +
UK cash forecast
MP WG)
Optional
elements
7.
CR0387
758
camt.042, 043 & 045
(detailed)
Add elements for hedge share class functionality
SWIFT + IMA +
UK cash forecast
Optional
elements
Document1.
Correction of inconsistencies in order of message
Produced by SWIFT 3 July 2014
5
STATUS
ISO 20022 Investment Funds Maintenance 2015
elements
MP WG)
8.
CR0441
759
camt. 040, 041 &
044, 042, 043 & 045
Add ‘additional balances’ for hedge share class
functionality
SWIFT + IMA +
UK cash forecast
MP WG)
Optional
elements
9.
CR0394
760
camt.040, 042
Definition update Trade Date Time
SWIFT + IMA +
UK cash forecast
MP WG)
Definition
10.
CR0395
761
camt.040-045
Add element for ‘off-shore’
SWIFT + IMA +
UK cash forecast
MP WG)
Optional
elements
11.
CR0342
762
camt.042, 043 & 045
(detailed)
Replace XOR with choice component
SWIFT (ISO
alignment)
XOR
1.5
Changes to Account Management Messages
#
ISO CR
Identifier
SWIFT
ID
Message Types
Brief Overview
Submitter
Type of
change
12.
CR0417
763
acmt.001, 002, 003
Add counterparty reference (and client
reference?)
NMPG IF IT
Optional
element
13.
CR0398
764
acmt.001, 002, 003
Add Transfer Reference to OrderReference
SWIFT (for
SMPG IF WG)
Optional
element
14.
CR0422
765
acmt.001, 002, 003
Individual Person/Other Identification – add
country issuer
NMPG IF IT
Optional
element
15.
CR0423
766
acmt.001, 002, 003
Individual Person/Other Identification – add type
codes
NMPG IF IT
Codes
16.
CR0424
767
acmt.001, 002, 003
Organisation – tax identification
NMPG IF IT
Optional
elements
17.
CR0425
768
acmt.001, 002, 003
Individual Person & Organisation – add FATCA
form type
NMPG IF IT
Optional
element
18.
CR0426
769
acmt.001, 002, 003
Individual Person & Organisation – add FATCA
status
NMPG IF IT
Optional
elements
19.
CR0421
770
acmt.001, 002, 003
Investor Profile Validation – add KYC Database
Check
NMPG IF IT
Optional
element
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STATUS
OK
ISO 20022 Investment Funds Maintenance 2015
20.
CR0416
771
acmt.001, 002, 003
Account Parties - add ‘settlor’
NMPG IF IT
Optional
sequence
OK
21.
CR0418
772
acmt.001, 002, 003
Savings & withdrawal plan – add status of plan
NMPG IF IT
Optional
element
OK
22.
CR0419
773
acmt.001, 002, 003
Savings & withdrawal plan / security details /
element Percentage changed to choice of
Amount or Unit or Percentage
NMPG IF IT
Optional
elements
choice
OK
23.
CR0420
774
acmt.001, 002, 003
Savings & withdrawal plan - add instalment
manager role
NMPG IF IT
Optional
element
OK
24.
CR0340
775
acmt.001, 002, 003,
004, 005
Replace XOR
SWIFT
XOR
OK
There are 24 change requests impacting sixteen messages.
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ISO 20022 Investment Funds Maintenance 2015
2 CR0349 (semt) Change Multiplicity SubAccountDetails (ID 752)
A Origin of the request:
A.1 Submitter:
SWIFT Standards
(submitted 13 February 2014)
A.2 Contact person:
Janice Chapman, SWIFT
Janice.Chapman@swift.com
A.3 Sponsors:
None
+ 32 2 655 3390
B. Related messages:
1.
Statement of Investment Funds Transaction Cancellation V02
semt.007.001.02
There is no impact on other messages.
C. Description of the change request:
The SubAccountDetails sequence should be optional and repetitive, not mandatory. The message
should allow TransactionOnAccount or SubAccountDetails (in keeping with the semt.006.001.02
Statement of Investment Funds Transactions).
.
D. Purpose of the change:
Correction of an error. This error was also in the first version of the message released in 2005.
This error was noticed by a vendor in 2011.
E. Urgency of the request:
Next yearly maintenance cycle (2014/2015).
This change request was previously submitted and logged on the IS0 20022 site as CR0157 in
2012. When reviewed in a previous SEG Investment Funds Evaluation Team meeting, it was
decided to wait until a maintenance cycle that includes other statement messages.
This change is now considered urgent as vendors cannot implement a full solution for funds.
SWIFT agrees this change should be carried out in the next cycle, whether or not other statement
messages require changes.
F. Business examples:
G. SEG recommendation:
Consider
x
Timing
- Next yearly cycle: 2014/2015
(the change will be considered for implementation in the yearly
maintenance cycle which starts in 2014 and completes with the
publication of new message versions in the spring of 2015)
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X
8
ISO 20022 Investment Funds Maintenance 2015
- At the occasion of the next maintenance of the messages
(the change will be considered for implementation, but does not
justify maintenance of the messages in its own right – will be
pending until more critical change requests are received for the
messages)
- Urgent unscheduled
(the change justifies an urgent implementation outside of the
normal yearly cycle)
- Other timing:
Comments:
H. Impact analysis:
I.
Implementation:
In the Statement To Be Cancelled sequence, the multiplicity of the element SubAccountDetails is to
be changed to optional and repetetive (in keeping with the semt.006 statement of investment fund
transactions).
J.
Proposed timing:
The submitting organisation confirms that it can implement the requested changes in the requested
timing.
Timing
-
As requested
K. Final decision of the SEG(s):
This section is not to be taken care of by the submitting organisation. It will be completed in due time
by the SEG(s) in charge of the related ISO 20022 messages.
Approve
Comments:
Reject
Reason for rejection:
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ISO 20022 Investment Funds Maintenance 2015
3 CR0348 (semt) Update Definitions Order Date and Reference (ID
753)
A. Origin of the request:
A.1 Submitter :
SWIFT Standards
(submitted 13 February 2014)
A.2 Contact person:
Janice Chapman
janice.chapman@swift.com
+32 2 655 3390
A.3 Sponsor:
B. Related messages:
1.
2.
Statement of Investment Fund Transactions V02
Statement Of Investment Fund Transactions Cancellation V02
semt.006.001.02
semt.007.001.02
C. Description of the change request:
[1] Update the definition of Order Date Time:
Current Definition
Revised Definition
Date and time at which the order was placed by the
investor.
Date and time at which the order was placed by the
investor or its agent.
This change of definition is proposed as a result of SMPG IF WG work on the funds order messages
[2] Update the definition of Order Reference:
Current Definition
Revised Definition
Unique identifier for an order, as assigned by the sellside. The identifier must be unique within a single
trading day.
Unique and unambiguous identifier for an order, as
assigned by the instructing party.
This change means the definition is in line with that in the order messages.
D. Purpose of the change:
Fine-tuning of definitions. This is a document update only.
E. Urgency of the request:
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ISO 20022 Investment Funds Maintenance 2015
Next yearly maintenance cycle (2014/2015).
Other change requests have been submitted for the two Investment Funds Statement of Transactions
messages, including one correction on the cancellation message, which really should be done as
soon as possible (the element SubAccount Details is designated mandatory when it should be
optional and this means that vendors cannot offer a full solution).
F. Business examples:
None
G. SEG recommendation:
Consider
x
Timing
- Next yearly cycle: 2014/2015
(the change will be considered for implementation in the yearly
maintenance cycle which starts in 2014 and completes with the
publication of new message versions in the spring of 2015)
X
- At the occasion of the next maintenance of the messages
(the change will be considered for implementation, but does not
justify maintenance of the messages in its own right – will be
pending until more critical change requests are received for the
messages)
- Urgent unscheduled
(the change justifies an urgent implementation outside of the
normal yearly cycle)
- Other timing:
Comments:
H. Impact analysis:
I.
Implementation:
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ISO 20022 Investment Funds Maintenance 2015
[1]
The definition of Order Date Time is to be updated:
Current Definition
Revised Definition
Date and time at which the order was placed by
the investor.
Date and time at which the order was placed by
the investor or its agent.
This change of definition is proposed as a result of SMPG IF WG work on the funds order
messages
[2]
The definition of Order Reference is to be updated:
Current Definition
Revised Definition
Unique identifier for an order, as assigned by the
sell-side. The identifier must be unique within a
single trading day.
Unique and unambiguous identifier for an order,
as assigned by the instructing party.
This change means the definition is in line with that in the order messages.
J.
Proposed timing:
The submitting organisation confirms that it can implement the requested changes in the requested
timing.
Timing
-
As requested
K. Final decision of the SEG(s):
This section is not to be taken care of by the submitting organisation. It will be completed in due time
by the SEG(s) in charge of the related ISO 20022 messages.
Approve
Comments:
Reject
Reason for rejection:
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ISO 20022 Investment Funds Maintenance 2015
4 CR0347 (semt) Replace XOR Construct with Choice Component
(ID 754)
A. Origin of the request:
A.1 Submitter :
SWIFT Standards
(submitted 13 February 2014)
A.2 Contact person:
Janice Chapman
janice.chapman@swift.com
A.3 Sponsor:
None
+32 2 655 3390
B. Related messages:
1.
2.
Statement of Investment Fund Transactions V02
Statement Of Investment Fund Transactions Cancellation V02
semt.006.001.02
semt.007.001.02
C. Description of the change request:
[a]
Replacement of XOR construction with a choice component for the following:
#
Elements in the XOR or comment
Note
Role
+ replace ‘extended’ by
Proprietary
Semt.006
Investment
1
Account Details
(InvestmentAccoount25)
1
/
Extended Role
Intermediary Information (Intermediary11)
Transaction
2
On Account (Investment Fund
TransactionsByFund2) /
Transaction Details (Investment Fund
Transaction 3)
Transaction Type
Extended Transaction Type
Corporate Action Event Type
Extended Corporate Action Event Type
Transaction
3
On Account (Investment Fund
TransactionsByFund2) /
Type
Extended Type
Should 1st be a choice
between Transaction
Type and Corporate
Action Type. And then
each should be a code
of Code or Proprietary
+ replace ‘extended’ by
Proprietary
Transaction Details (Investment Fund
Transaction 3) / Price Details (UnitPrice11)
Transaction
4
On Account (Investment Fund
TransactionsByFund2) /
First Opening Balance
Not applicable
Intermediary Opening Balance
Transaction Details (Investment Fund
Transaction 3) / Price Details (UnitPrice11)
/
Balance By Page (Pagination Balance 1)
Transaction
5
On Account (Investment Fund
TransactionsByFund2) /
Final Closing Balance
Not applicable
Intermediary Closing Balance
Transaction Details (Investment Fund
Transaction 3) / Price Details (UnitPrice11)
/
Balance By Page (Pagination Balance 1)
SubAccount
6
Details
(SubAccountIdentification6) /
Use new version of Investment Fund TransactionsByFund2)
resulting from above changes
Transaction On SubAccount (Investment
Fund TransactionsByFund2)
Semt.007
Statement
7
To Be Cancelled
(StatementOfInvestmentFundTransactions
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ISO 20022 Investment Funds Maintenance 2015
#
Elements in the XOR or comment
Note
2) Investment Account Details
(InvestmemtAccount25)
Statement
8
To Be Cancelled
(StatementOfInvestmentFundTransactions
2) Transaction on Account (Investment
Funds Transaction By Fund 2)
Use new versions of message components as created for above.
Statement
9
To Be Cancelled
(StatementOfInvestmentFundTransactions
2) SubAccount Details
(SubAccountIdentification6)
Use new versions of message components as created for above.
#
Elements in the XOR or comment
Note
Linked Message Previous Reference
Element Reason will
need to be optional
Semt.001
Reason
1
LinkedMessageOtherReference
LinkedMessageRelatedReference
D. Purpose of the change:
Under the new edition ISO 20022:2013, ‘unnamed’ choices (known as XOR choices) are forbidden
and should be replaced by ‘named’ ChoiceComponents. Unnamed choices are difficult to implement
as they require an implementer to 'invent' a name for the choice. Unnamed choices may also be
confusing to a user if a choice has to be made without any context as to why the choice is there.
The replacement of Extended to Proprietary is a requirement for ISO 20022.
E. Urgency of the request:
Next yearly maintenance cycle (2014/2015).
It was originally planned that this kind of change would be done in a later maintenance cycle.
However, it would actually be better on resources for SEG Investment Funds Evaluation Team and
the organisation responsible for carrying out the maintenance to do this technical modification in the
next maintenance cycle, that is 2014/2015. It also makes sense to carry out this change whilst
adoption rates are still low for these messages so as to minimise the impact.
F. Business examples:
G. SEG recommendation:
Consider
x
Timing
- Next yearly cycle: 2014/2015
(the change will be considered for implementation in the yearly
maintenance cycle which starts in 2014 and completes with the
publication of new message versions in the spring of 2015)
X
- At the occasion of the next maintenance of the messages
(the change will be considered for implementation, but does not
justify maintenance of the messages in its own right – will be
pending until more critical change requests are received for the
messages)
- Urgent unscheduled
(the change justifies an urgent implementation outside of the
normal yearly cycle)
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ISO 20022 Investment Funds Maintenance 2015
- Other timing:
Comments:
H. Impact analysis:
At the time of writing the Maintenance Change Request document, it was noticed that the list of
messages in section B does not include semt.001, however, in section C there is mention of
semt.001. The replacement of XOR for semt.001 is covered in CR 388.
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ISO 20022 Investment Funds Maintenance 2015
I.
Implementation:
[1]
semt.006 statement of investment funds transactions
The table shows the elements in the XOR and how they are to be replaced:
Elements of the XOR
Replace by
Element
Name
Element Definition
Element
M/O
Choice Component Name
& Definition
Elements of the
Choice
Component
Definition of choice
element
Data Type for
choice element
Choice
elemen
t M/O
Investment
Account
Details /
Intermedia
ry
Informatio
n
Role
Role
Function
performed by the
intermediary.
0.1
Role 4 Choice
Definition: Choice of
format for a party
role.
Code
Role of the party in
the activity
expressed as a code..
InvestmentFun
dRole2Code
1..1
Proprietary
Role of the party in
the activity
expressed as a
proprietary code.
Generic
Identification
40
1..1
Transaction
On Account
/
Transaction
Details
Transaction Type
#
1
2
Extended Role
Extended
Transaction Type
Corporate Action
Event Type
Extended Corporate
Action Event Type
There are 4 elements on this XOR. This is to be changed to choice between Transaction Type and Corporate Action Type and then each of
these two elements is typed by a choice – see below (and see diagram)
Transaction
Or
Corporate
Action Type
Underlying
transaction or
Corporate action
1.1
Transaction Type N
Choice
Transaction
Type
Type of investment
fund transaction.
Transaction
Type N+1
Choice
1.1
Definition: Choice of
transaction type or
corporation action
event type.
Corporate
Action Event
Type
Type of corporate
action event.
Corporate
Action Event
Type N Choice
1.1
Code
Transaction type
expressed as a code.
Transaction type
expressed as a
Transaction
Type 2 Code
Generic
Identification
1.1
Transaction Type N+1
Choice
Proprietary
Definition: Choice of
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1.1
ISO 20022 Investment Funds Maintenance 2015
#
Elements of the XOR
Replace by
Element
Name
Element Definition
Element
M/O
Choice Component Name
& Definition
formats for the
transaction type.
Corporate Action
Event Type N+1
Choice
Elements of the
Choice
Component
Code
Proprietary
Definition: Choice of
formats for the
corporate action event
type.
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Definition of choice
element
Data Type for
choice element
proprietary code
40
Corporate action
event type expressed
as a code.
Corporate action
event expressed as a
proprietary code
CorporateActio
nEventType1C
ode
Generic
Identification
40
Choice
elemen
t M/O
1.1
1.1
ISO 20022 Investment Funds Maintenance 2015
Elements of the XOR
Replace by
Element
Name
Element Definition
Element
M/O
Choice Component Name
& Definition
Elements of the
Choice
Component
Definition of choice
element
Data Type for
choice element
Choice
elemen
t M/O
Transaction
On Account
/
Transaction
Details /
Price
Details
Type
Type
Type of price.
1.1
Price Type N Choice
Code
Type of price
expressed as a code.
TypeOfPrice10
Code
1..1
Definition: Choice of
format for a price
Proprietary
Type of price
expressed as a
proprietary code.
Generic
Identification
40
1..1
Transaction
On Account
First Opening
Balance
Opening Balance N
Choice
First Opening
Balance
Opening balance of
the financial
FinancialInstru
mentQuantity1
1..1
#
3
4
Document1
Extended Type
Opening
Balance
Opening balance
of the financial
Produced by SWIFT on 3 July 2014
0.1
18
ISO 20022 Investment Funds Maintenance 2015
#
Elements of the XOR
/
Transaction
Details /
Price
Details /
Balance By
Page
5
6
Transaction
On Account
/
Transaction
Details /
Price
Details /
Balance By
Page
SubAccoun
t Details /
Replace by
Element
Name
Intermediary
Closing Balance
Element
M/O
instrument in the
statement or of
the intermediary
opening balance
of the page of the
statement
Intermediary
Opening Balance
Final Closing
Balance
Element Definition
Closing
Balance
Closing balance
of the financial
instrument in the
statement or of
the intermediary
closing balance of
the page of the
statement
Choice Component Name
& Definition
0.1
Definition of choice
element
Data Type for
choice element
Choice
elemen
t M/O
instrument in the
statement.
Definition: Choice of
opening and
intermediary balances
Intermediary
Opening
Balance
Opening balance of
this page only. It
must be the
intermediary closing
balance of the
previous page (part
of the same
statement).
FinancialInstru
mentQuantity1
1..1
Final Closing
Balance
Closing balance of
the financial
instrument in the
statement.
FinancialInstru
mentQuantity1
1..1
Intermediary
Closing
Balance
Closing Balance of
this page only.
Must be the
intermediary
opening balance of
the next page (part
of the same
statement).
FinancialInstru
mentQuantity1
1..1
The new version of Investment Fund TransactionsByFund2 resulting from above changes will be used at the data type for SubAccount Details
/ Transaction On SubAccount.
Transaction
On
SubAccoun
t
Document1
Elements of the
Choice
Component
Produced by SWIFT on 3 July 2014
19
ISO 20022 Investment Funds Maintenance 2015
#
Elements of the XOR
[1]
Replace by
Element
Name
Element Definition
Element
M/O
Choice Component Name
& Definition
Elements of the
Choice
Component
Definition of choice
element
Data Type for
choice element
Choice
elemen
t M/O
semt.007 statement of investment funds transactions cancellation
Implementation is similar to that of semt.006
[1]
semt.001 securities message rejection
The list of messages in section B does not include semt.001, however, in section C there is mention of semt.001. The replacement of XOR for semt.001
is covered in CR 388.
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20
ISO 20022 Investment Funds Maintenance 2015
J.
Proposed timing:
The submitting organisation confirms that it can implement the requested changes in the requested
timing.
Timing
-
As requested
K. Final decision of the SEG(s):
This section is not to be taken care of by the submitting organisation. It will be completed in due time
by the SEG(s) in charge of the related ISO 20022 messages.
Approve
Comments:
Reject
Reason for rejection:
Document1
Produced by SWIFT on 3 July 2014
21
ISO 20022 Investment Funds Maintenance 2015
5 CR0388 (semt) Delete Rule + Replace XOR with Choice
Component (ID 755)
A. Origin of the request:
A.1 Submitter:
SWIFT Standards on behalf of Findel & Almus (LU NMPG)
A.2 Contact person:
Janice Chapman
janice.chapman@swift.com
+32 2 655 3390
A.3 Sponsors:
B. Related messages:
1.
Securities Message Rejection V02
semt.001.001.02
C. Description of the change request:
[1] The message contains a usage rule that does not make sense:
[2] In addition, the XOR construct will be replaced with a choice component.
D. Purpose of the change:
The change is needed to [1] correct an error and [2] replace XOR with a Choice to comply with ISO
20022.
E. Urgency of the request:
Next yearly maintenance cycle (2014/2015).
F. Business examples:
None.
G. SEG recommendation:
Consider
x
Timing
- Next yearly cycle: 2014/2015
(the change will be considered for implementation in the yearly
maintenance cycle which starts in 2014 and completes with the
publication of new message versions in the spring of 2015)
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22
X
ISO 20022 Investment Funds Maintenance 2015
- At the occasion of the next maintenance of the messages
(the change will be considered for implementation, but does not
justify maintenance of the messages in its own right – will be
pending until more critical change requests are received for the
messages)
- Urgent unscheduled
(the change justifies an urgent implementation outside of the
normal yearly cycle)
- Other timing:
Comments:
H. Impact analysis:
I.
Implementation:
Part 1
In the Reason sequence, delete Rule ‘LinkedMessageReferenceRule’
Part 2
In the Reason sequence, replace the XOR construct with Choice Component:
[a]
The XOR LinkedMessagePreviousReference| LinkedMessageOtherReference|
LinkedMessageRelatedReference is to be changed into the element Linked Message,
typed by a Choice component:
Linked Message [0..1]
Identification of the invalid or
unrecognised reference.
LinkedMessage1Choice
The new LinkedMessage element is to be designated ‘technical’.
[b] A new technical choice component is to be created:
LinkedMessage1Choice
PreviousReference
[1..1]
Document1
Produced by SWIFT on 3 July 2014
Definition: Reference to a message.
Additional Reference 3
Linked previous reference.
23
ISO 20022 Investment Funds Maintenance 2015
J.
OtherReference [1..1]
Linked other reference
Additional Reference 3
RelatedReference [1..1
Linked related reference.
Additional Reference 3
Proposed timing:
The submitting organisation confirms that it can implement the requested changes in the requested
timing.
Timing
-
As requested
K. Final decision of the SEG(s):
This section is not to be taken care of by the submitting organisation. It will be completed in due time
by the SEG(s) in charge of the related ISO 20022 messages.
Approve
Comments:
Reject
Reason for rejection:
Document1
Produced by SWIFT on 3 July 2014
24
ISO 20022 Investment Funds Maintenance 2015
6 CR0352 (sese) Add optional element for Transfer Currency (ID
756)
A. Origin of the request:
A.1 Submitter:
SWIFT Standards on behalf Findel Group (submitted 13 February 2014)
A.2 Contact person:
Janice Chapman, SWIFT Janice.Chapman@swift.com
Charles Boniver
A.3 Sponsors:
+ 32 2 655 3390
Charlesraymond.Boniver@rbc.com +352 2605 9206
None
B. Related messages:
1.
2.
3.
Portfolio Transfer Instruction V05
Portfolio Transfer Cancellation Request V05
Portfolio Transfer Confirmation V05
sese.012.001.05
sese.014.001.05
sese.013.001.05
C. Description of the change request:
In the 2011/2012 maintenance cycle, an optional TransferCurrency element was added to the
TransferDetails sequence of the transfer instruction and confirmation message set, because some
transfer agents register holdings segregated by currency not by ISIN and thus there is this need to
identify the currency.
The change request should have also been applied to the portfolio transfer message set since this is
information that is determined at the level of the portfolio instruction and is then subsequently
instructed in the transfer out instruction.
This element is to be added to the Product Transfer sequence. It should be discussed whether this
element is also needed at the level of the financial instrument, that is, within the
FinancialInstrumentAssetForTransfer sequence. It may be that it is required at both places in the
message.
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25
ISO 20022 Investment Funds Maintenance 2015
[1]
Document1
Portfolio Transfer Instruction (sese.012.001.05)
Produced by SWIFT on 3 July 2014
26
ISO 20022 Investment Funds Maintenance 2015
[2]
Document1
Portfolio Transfer Confirmation (sese.013.001.05)
Produced by SWIFT on 3 July 2014
27
ISO 20022 Investment Funds Maintenance 2015
[3]
Portfolio Transfer Cancellation Request sese.014.001.05
D. Purpose of the change:
Introduction of optional Transfer Currency field for alignment with the funds transfers messages.
Because some transfer agents register holdings segregated by currency not by ISIN, there is a need
for a field to indicate the currency. This is information that is determined at the level of the portfolio
instruction and is then subsequently instructed in the transfer out instruction.
Element
Multiplicity
Data Type
Definition
TransferCurrency
[0.1]
CurrencyCode
Identifies the currency to be used to transfer the
holdings.
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ISO 20022 Investment Funds Maintenance 2015
E. Urgency of the request:
Next yearly maintenance cycle (2014/2015)
F. Business examples:
None
G. SEG recommendation:
Consider
x
Timing
- Next yearly cycle: 2014/2015
(the change will be considered for implementation in the yearly
maintenance cycle which starts in 2014 and completes with the
publication of new message versions in the spring of 2015)
X
- At the occasion of the next maintenance of the messages
(the change will be considered for implementation, but does not
justify maintenance of the messages in its own right – will be
pending until more critical change requests are received for the
messages)
- Urgent unscheduled
(the change justifies an urgent implementation outside of the
normal yearly cycle)
- Other timing:
Comments:
H. Impact analysis:
I.
Implementation:
The element Transfer Currency needs to be added to the three messages (see diagrams in
section B).
Element
Multiplicity
Data Type
Definition
TransferCurrency
[0.1]
CurrencyCode
Identifies the currency to be used to transfer the
holdings.
The definition is to be the same as the Transfer Currency element used in the transfer messages.
See message structure diagrams in section C above.
The element is to be inserted in:
[1]
Portfolio Transfer Instruction (sese.012), in the sequence Product Transfer (or should it be
added to Product Transfer / Financial Instrument For Transfer ?)
[2]
Portfolio Transfer Confirmation (sese.012), in the sequence Product Transfer (or should it
be added to Product Transfer / Financial Instrument For Transfer ?)
[3]
Portfolio Transfer Cancellation Request (sese.014), in the sequence Cancellation /
Cancellation By Transfer Instruction Details / Product Transfer (or should it be sequence
Cancellation / Cancellation By Transfer Instruction Details / Product Transfer / Financial
Instrument For Transfer ??)
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29
ISO 20022 Investment Funds Maintenance 2015
J.
Proposed timing:
The submitting organisation confirms that it can implement the requested changes in the requested
timing.
Timing
-
As requested
K. Final decision of the SEG(s):
This section is not to be taken care of by the submitting organisation. It will be completed in due time
by the SEG(s) in charge of the related ISO 20022 messages.
Approve
Comments:
Reject
Reason for rejection:
Document1
Produced by SWIFT on 3 July 2014
30
ISO 20022 Investment Funds Maintenance 2015
7 CR0386 (camt) Add optional elements for Hedge Share Class
functionality (non-detailed messages) (ID 757)
A. Origin of the request:
A.1 Submitter:
Working Group
SWIFT Standards on behalf of IMA + UK Fund Cash Forecast Market Practice
A.2 Contact person:
Janice Chapman
Janice.chapman@swift.com
+32 2 655 3390
A.3 Sponsors:
B. Related messages:
1.
2.
3.
Fund Estimated Cash Forecast Report V03
Fund Confirmed Cash Forecast Report V03
Fund Confirmed Cash Forecast Report Cancellation V02
camt.040.001.03
camt.041.001.03
camt.044.001.02
C. Description of the change request:
[1] Fund Estimated Cash Forecast Report
[a]
Addition of optional elements
[a1] New sequence at message level
1
Item
Main Fund Details
Definition
Information about the main fund when the fund
cash forecast details specifies information for a
share class of the main fund. Typically used in a
‘hedged share class scenario’.
M/O
0.1
Type
New message
component
[a2] Elements in new sequence Main Fund Details:
2
Item
Identification
Definition
Identification of the financial instrument.
M/O
0.1
3
4
Name
Currency
Name of the financial instrument.
Currency of the financial instrument.
0.1
0.1
5
Estimated Total NAV
Estimated total value of all the holdings, less the
fund's liabilities, of the fund.
0.1
6
Previous Total NAV
Previous total value of all the holdings, less the
fund's liabilities, of the fund.
0.1
7
Estimated Total Units
Number
Previous Total Units
Number
Estimated
Percentage of Fund
Total NAV
Estimated total number of units.
0.1
Type
Security
Identification 3
Choice
Max 35 Text
Active Or Historic
Currency
Active Or Historic
Currency And
Amount
Active Or Historic
Currency And
Amount
Decimal Number
Previous total number of units.
0.1
Decimal Number
Estimated consolidated net cash flow of all share
classes expressed as a percentage of the
previous total NAV for the whole fund.
0.1
PercentageRate
MainFundIDName1
Rule
If MainFundDetails is present then either
Identification or Name must be present. Both
Identification and Name are allowed.
8
9
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ISO 20022 Investment Funds Maintenance 2015
10
11
12
[a3]
Item
Price
Elements in Estimated Fund Cash Forecast Details sequence:
Definition
M/O
Type
Price per unit of the previous trade date.
0.1
ActiveCurrencyAnd
13DecimalAmount
FX Rate
Foreign exchange rate.
0.1
ForeignExchangeTe
rms19 (already
exists, comprises
Unit Currency,
Quoted Currency
and Exchange
Rate)
Estimated
Estimated net cash flow of the share class
0.1
PercentageRate
Percentage of Share
expressed as a percentage of the previous total
Class Total NAV
NAV for the share class.
[b]
1
2
3
Multiplicity Changes:
Sequence
Estimated Fund Cash Forecast Details
Estimated Fund Cash Forecast Details
Estimated Fund Cash Forecast Details
Element
Previous Trade Date Time
Estimated Total NAV
Previous Total NAV
Current
1.1
0.1
0.1
Change to
0.1
0.n
0.n
[2] Fund Confirmed Cash Forecast Report
[a]
Addition of optional elements
[a1] New sequence at message level
1
Item
Main Fund Details
Definition
Information about the main fund when the
fund cash forecast details specifies
information for a share class of the main
fund. Typically used in a ‘hedged share class
scenario’.
M/O
0.1
Type
New message
component
Type
Security
Identification 3
Choice
Max 35 Text
Active Or Historic
Currency
Active Or Historic
Currency And
Amount
Active Or Historic
Currency And
Amount
Decimal Number
[a2] Elements in new sequence Main Fund Details:
2
Item
Identification
Definition
Identification of the financial instrument.
M/O
0.1
3
4
Name
Currency
Name of the financial instrument.
Currency of the financial instrument.
0.1
0.1
5
Total NAV
Total value of all the holdings, less the fund's
liabilities, of the fund.
0.1
6
Previous Total NAV
Previous total value of all the holdings, less
the fund's liabilities, of the fund.
0.1
7
Total Units Number
Total number of units.
0.1
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ISO 20022 Investment Funds Maintenance 2015
8
9
Item
Previous Total Units
Number
Percentage of Fund
Total NAV
MainFundIDName1
Rule
10
11
12
M/O
0.1
Type
Decimal Number
Consolidated net cash flow of all share classes
expressed as a percentage of the total NAV
for the whole fund.
If MainFundDetails is present then either
Identification or Name must be present. Both
Identification and Name are allowed.
0.1
PercentageRate
[a3]
Price
Elements in Estimated Fund Cash Forecast Details sequence:
Price per unit
0.1
ActiveCurrencyAnd
13DecimalAmount
FX Rate
Foreign exchange rate.
0.1
ForeignExchangeTe
rms19 (already
exists, comprises
Unit Currency,
Quoted Currency
and Exchange
Rate)
Percentage of Share
Net cash flow of the share class expressed as
0.1
PercentageRate
a percentage of the total NAV for the share
Class Total NAV
class
[b]
1
2
Definition
Previous total number of units.
Multiplicity Changes:
Sequence
Fund Cash Forecast Details
Fund Cash Forecast Details
Document1
Produced by SWIFT on 3 July 2014
Element
Total NAV
Previous Total NAV
33
Current
0.1
0.1
Change to
0.n
0.n
ISO 20022 Investment Funds Maintenance 2015
Diagram – Fund Estimated Cash Forecast Report (camt.040)
Document1
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34
ISO 20022 Investment Funds Maintenance 2015
Diagram – Fund Confirmed Cash Forecast Report (camt.041)
Document1
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35
ISO 20022 Investment Funds Maintenance 2015
Diagram – Fund Confirmed Cash Forecast Report Cancellation (camt.044)
As can be seen Cancellation Forecast Report to be Cancelled \ Fund Cash Forecast
Details uses the same sequence as that in the Fund Confirmed Cash Forecast message
D. Purpose of the change:
Market practice work with asset managers for cash forecasts on funds with a ‘hedge share class’
led to the identification of gaps in the message and additional data elements are needed, and
some data needs to be specified at both the level of the ‘main’ fund and the share class.
E. Urgency of the request:
Next yearly maintenance cycle (2014/2015).
F. Business examples:
None
G. SEG recommendation:
Consider
x
Timing
- Next yearly cycle: 2014/2015
(the change will be considered for implementation in the yearly
Document1
Produced by SWIFT on 3 July 2014
36
X
ISO 20022 Investment Funds Maintenance 2015
maintenance cycle which starts in 2014 and completes with the
publication of new message versions in the spring of 2015)
- At the occasion of the next maintenance of the messages
(the change will be considered for implementation, but does not
justify maintenance of the messages in its own right – will be
pending until more critical change requests are received for the
messages)
- Urgent unscheduled
(the change justifies an urgent implementation outside of the
normal yearly cycle)
- Other timing:
Comments:
H. Impact analysis:
Document1
Produced by SWIFT on 3 July 2014
37
ISO 20022 Investment Funds Maintenance 2015
I.
Implementation:
[1] Fund Estimated Cash Forecast Report
Diagram – overview of the additions and other changes:
[a]
Addition of optional elements
[a1] New sequence at message level
1
Item
Main Fund Details
Definition
Information about the main fund when the fund
cash forecast details specifies information for a
share class of the main fund. Typically used in a
‘hedged share class scenario’.
M/O
0.1
Type
New message
component
Type
Security Identification 3
Choice
Max 35 Text
Active Or Historic
[a2] Elements in new sequence Main Fund Details:
2
Item
Identification
Definition
Identification of the financial instrument.
M/O
0.1
3
4
Name
Currency
Name of the financial instrument.
Currency of the financial instrument.
0.1
0.1
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ISO 20022 Investment Funds Maintenance 2015
Item
Definition
M/O
5
Estimated Total NAV
0.1
6
Previous Total NAV
7
Estimated Total Units
Number
Previous Total Units
Number
Estimated Percentage
of Fund Total NAV
Estimated total value of all the holdings, less the
fund's liabilities, of the fund.
Previous total value of all the holdings, less the
fund's liabilities, of the fund.
Estimated total number of units.
0.1
Type
Currency
Active Or Historic
Currency And Amount
Active Or Historic
Currency And Amount
Decimal Number
Previous total number of units.
0.1
Decimal Number
Estimated consolidated net cash flow of all share
classes expressed as a percentage of the
previous total NAV for the whole fund.
0.1
PercentageRate
8
9
MainFundIDName1
Rule
10
11
12
If MainFundDetails is present then either
Identification or Name must be present. Both
Identification and Name are allowed.
[a3]
Item
Price
Elements in Estimated Fund Cash Forecast Details sequence:
Definition
M/O Type
Price per unit of the previous trade date.
0.1
ActiveCurrencyAnd13De
cimalAmount
FX Rate
Foreign exchange rate.
0.1
ForeignExchangeTerms1
9 (already exists,
comprises Unit Currency,
Quoted Currency and
Exchange Rate)
Estimated Percentage
Estimated net cash flow of the share class
0.1
PercentageRate
of Share Class Total
expressed as a percentage of the previous total
NAV
NAV for the share class.
[b]
1
2
3
0.1
Multiplicity Changes:
Sequence
Estimated Fund Cash Forecast Details
Estimated Fund Cash Forecast Details
Estimated Fund Cash Forecast Details
Element
Previous Trade Date Time
Estimated Total NAV
Previous Total NAV
[2] Fund Confirmed Cash Forecast Report
Diagram – overview of the additions and other changes:
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39
Current
1.1
0.1
0.1
Change to
0.1
0.n
0.n
ISO 20022 Investment Funds Maintenance 2015
[a]
Addition of optional elements
[a1] New sequence at message level
1
Item
Main Fund Details
Definition
Information about the main fund when the fund
cash forecast details specifies information for a
share class of the main fund. Typically used in a
‘hedged share class scenario’.
M/O
0.1
Type
New message
component
[a2] Elements in new sequence Main Fund Details:
2
Item
Identification
Definition
Identification of the financial instrument.
M/O
0.1
3
4
Name
Currency
Name of the financial instrument.
Currency of the financial instrument.
0.1
0.1
5
Total NAV
0.1
6
Previous Total NAV
Total value of all the holdings, less the fund's
liabilities, of the fund.
Previous total value of all the holdings, less the
Document1
Produced by SWIFT on 3 July 2014
40
0.1
Type
Security Identification 3
Choice
Max 35 Text
Active Or Historic
Currency
Active Or Historic
Currency And Amount
Active Or Historic
ISO 20022 Investment Funds Maintenance 2015
Item
7
8
9
Total Units Number
Previous Total Units
Number
Percentage of Fund
Total NAV
MainFundIDName1
Rule
10
11
12
M/O
0.1
0.1
Type
Currency And Amount
Decimal Number
Decimal Number
Consolidated net cash flow of all share classes
expressed as a percentage of the total NAV for
the whole fund.
If MainFundDetails is present then either
Identification or Name must be present. Both
Identification and Name are allowed.
0.1
PercentageRate
[a3]
Price
Elements in Estimated Fund Cash Forecast Details sequence:
Price per unit
0.1
ActiveCurrencyAnd13De
cimalAmount
FX Rate
Foreign exchange rate.
0.1
ForeignExchangeTerms1
9 (already exists,
comprises Unit Currency,
Quoted Currency and
Exchange Rate)
Percentage of Share
Net cash flow of the share class expressed as a
0.1
PercentageRate
Class Total NAV
percentage of the total NAV for the share class
[b]
1
2
Definition
fund's liabilities, of the fund.
Total number of units.
Previous total number of units.
Multiplicity Changes:
Sequence
Fund Cash Forecast Details
Fund Cash Forecast Details
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Produced by SWIFT on 3 July 2014
Element
Total NAV
Previous Total NAV
41
Current
0.1
0.1
Change to
0.n
0.n
ISO 20022 Investment Funds Maintenance 2015
[3] Fund Confirmed Cash Forecast Report Cancellation (camt.044)
The same additions and changes as that specified for the Fund Confirmed Cash Forecast Report
(camt.041) are applicable to the cancellation message.
Diagram – overview of the additions and other changes:
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42
ISO 20022 Investment Funds Maintenance 2015
J.
Proposed timing:
The submitting organisation confirms that it can implement the requested changes in the requested
timing.
Timing
-
As requested
K. Final decision of the SEG(s):
This section is not to be taken care of by the submitting organisation. It will be completed in due time
by the SEG(s) in charge of the related ISO 20022 messages.
Approve
Comments:
Reject
Reason for rejection:
Document1
Produced by SWIFT on 3 July 2014
43
ISO 20022 Investment Funds Maintenance 2015
8 CR0387 (camt) Add optional elements for hedge share class
functionality (detailed messages) (ID 758)
A. Origin of the request:
A.1 Submitter:
Working Group
SWIFT Standards on behalf of IMA + UK Fund Cash Forecast Market Practice
A.2 Contact person:
Janice Chapman, SWIFT
Janice.Chapman@swift.com
+ 32 2 655 3390
A.3 Sponsors:
B. Related messages:
1.
2.
3.
Fund Detailed Estimated Cash Forecast Report V03
Fund Detailed Confirmed Cash Forecast Report V03
Fund Detailed Confirmed Cash Forecast Report Cancellation V02
camt.042.001.03
camt.043.001.03
camt.045.001.02
C. Description of the change request:
[1] Fund Detailed Estimated Cash Forecast Report (camt.042)
[a]
Addition of optional elements
[a1] New sequence at message level
1
Item
Main Fund Details
Definition
Information about the main fund when the fund
cash forecast details specifies information for a
share class of the main fund. Typically used in a
‘hedged share class scenario’.
M/O
0.1
Type
New message
component
[a2] Elements in new sequence Main Fund Details:
2
Item
Identification
Definition
Identification of the financial instrument.
M/O
0.1
3
4
Name
Currency
Name of the financial instrument.
Currency of the financial instrument.
0.1
0.1
5
Estimated Total NAV
0.1
6
Previous Total NAV
7
Estimated Total Units
Number
Previous Total Units
Number
Estimated Percentage
of Fund Total NAV
Estimated total value of all the holdings, less
the fund's liabilities, of the fund.
Previous total value of all the holdings, less the
fund's liabilities, of the fund.
Estimated total number of units.
0.1
Type
Security Identification 3
Choice
Max 35 Text
Active Or Historic
Currency
Active Or Historic
Currency And Amount
Active Or Historic
Currency And Amount
Decimal Number
Previous total number of units.
0.1
Decimal Number
Estimated consolidated net cash flow expressed
as a percentage of the previous total NAV for
the whole fund.
If MainFundDetails is present then either
Identification or Name must be present. Both
Identification and Name are allowed.
0.1
PercentageRate
8
9
MainFundIDName1
Rule
[a3]
Item
Document1
0.1
Elements in Estimated Fund Cash Forecast Details sequence:
Definition
Produced by SWIFT on 3 July 2014
M/O
44
Type
ISO 20022 Investment Funds Maintenance 2015
10
Price
Price per unit of the previous trade date.
0.1
11
FX Rate
Foreign exchange rate.
0.1
12
Estimated Percentage
of Share Class Total
NAV
Estimated net cash flow expressed as a
percentage of the previous total NAV for the
share class.
0.1
[a4]
13
14
2
3
1
M/O
0.1
Type
ActiveCurrencyCode
Definition
Settlement currency for the transaction.
M/O
0.1
Type
ActiveCurrencyC
ode
Multiplicity Changes:
Sequence
Estimated Fund Cash
Forecast Details
Estimated Fund Cash
Forecast Details
Estimated Fund Cash
Forecast Details
[c]
Definition
Settlement currency for the transaction.
Elements in Estimated Fund Cash Forecast Details / Breakdown By Party /
Cash Out Forecast / Cash Out Breakdown Details
Item
Settlement Currency
[b]
1
Elements in Estimated Fund Cash Forecast Details / Breakdown By Party /
Cash In Forecast / Cash In Breakdown Details
Item
Settlement Currency
[a5]
ActiveCurrencyAnd13De
cimalAmount
ForeignExchangeTerms1
9 (already exists,
comprises Unit Currency,
Quoted Currency and
Exchange Rate)
PercentageRate
Element
Previous Trade Date Time
Current
1.1
Change to
0.1
Estimated Total NAV
0.1
0.n
Previous Total NAV
0.1
0.n
Other Changes:
Sequence
Estimated Fund Cash Forecast Details /
Breakdown By Party
Element
Party
Change
Change type to party and account.
[2] Fund Detailed Confirmed Cash Forecast Report (camt.043)
[a]
Addition of optional elements
[a1] New sequence at message level
1
Item
Definition
Main Fund Details
Information about the main fund when the
fund cash forecast details specifies
information for a share class of the main
fund. Typically used in a ‘hedged share class
scenario’.
Type M
/
O
New message
0
component
.
1
[a2] Elements in new sequence Main Fund Details:
Item
Document1
Definition
Produced by SWIFT on 3 July 2014
M/O
45
Type
ISO 20022 Investment Funds Maintenance 2015
2
Identification
Identification of the financial instrument.
0.1
3
4
Name
Currency
Name of the financial instrument.
Currency of the financial instrument.
0.1
0.1
5
Total NAV
0.1
6
Previous Total NAV
7
8
Total Units Number
Previous Total Units
Number
Percentage of Fund Total
NAV
Total value of all the holdings, less the fund's
liabilities, of the fund.
Previous total value of all the holdings, less
the fund's liabilities, of the fund.
Total number of units.
Previous total number of units.
0.1
0.1
Security Identification 3
Choice
Max 35 Text
Active Or Historic
Currency
Active Or Historic
Currency And Amount
Active Or Historic
Currency And Amount
Decimal Number
Decimal Number
Consolidated net cash flow expressed as a
percentage of the total NAV for the whole
fund.
If MainFundDetails is present then either
Identification or Name must be present.
Both Identification and Name are allowed.
0.1
PercentageRate
Type
ActiveCurrencyAnd13Deci
malAmount
ForeignExchangeTerms19
(already exists, comprises
Unit Currency, Quoted
Currency and Exchange
Rate)
PercentageRate
9
MainFundIDName1 Rule
[a3]
0.1
Elements in Fund Cash Forecast Details sequence:
10
Item
Price
Definition
Price per unit
M/O
0.1
11
FX Rate
Foreign exchange rate.
0.1
12
Percentage of Share
Class Total NAV
Net cash flow expressed as a percentage of the
total NAV for the share class
0.1
[a4]
13
Item
Settlement Currency
[a5]
13
Definition
Settlement currency for the transaction.
Type
ActiveCurrencyCode
M/O
0.1
Type
ActiveCurrencyCode
Element
Total NAV
Previous Total NAV
Current
0.1
0.1
Change to
0.n
0.n
Other Changes:
Sequence
Fund Cash Forecast Details / Breakdown
By Party
Document1
M/O
0.1
Multiplicity Changes:
Sequence
Fund Cash Forecast Details
Fund Cash Forecast Details
[c]
1
Definition
Settlement currency for the transaction.
Elements in Fund Cash Forecast Details / Breakdown By Party / Cash Out
Forecast / Cash Out Breakdown Details
Item
Settlement Currency
[b]
1
2
Elements in Fund Cash Forecast Details / Breakdown By Party / Cash In
Forecast / Cash In Breakdown Details
Produced by SWIFT on 3 July 2014
Element
Party
46
Change
Change type to party and
account.
ISO 20022 Investment Funds Maintenance 2015
Diagrams – Fund Detailed Estimated Cash Forecast Report (camt.042)
New elements at message level
Document1
Produced by SWIFT on 3 July 2014
47
ISO 20022 Investment Funds Maintenance 2015
New elements and changes in Estimated Fund Cash Forecast Details sequence:
Document1
Produced by SWIFT on 3 July 2014
48
ISO 20022 Investment Funds Maintenance 2015
Diagrams – Fund Detailed Confirmed Cash Forecast Report (camt.043)
New elements at message level
Document1
Produced by SWIFT on 3 July 2014
49
ISO 20022 Investment Funds Maintenance 2015
New elements and changes in Estimated Fund Cash Forecast Details sequence:
Document1
Produced by SWIFT on 3 July 2014
50
ISO 20022 Investment Funds Maintenance 2015
Diagram – Fund Detailed Confirmed Cash Forecast Report Cancellation (045)
New elements at message level
New elements and changes at Breakdown By Party Level
For the sequence Cash Forecast Report To Be Cancelled, replace the data type Fund Detailed
Confirmed Cash Forecast Report 2 by the new version of the component as created for the new
version of the FundDetailedConfirmedCashForecastReport message.
Document1
Produced by SWIFT on 3 July 2014
51
ISO 20022 Investment Funds Maintenance 2015
[3] Alignment of the order of sequences and elements
[A]
There are inconsistences between the order of sequences between the non-detailed version of the message and the detailed version of the message
which should be corrected:
Document1
Produced by SWIFT on 3 July 2014
52
ISO 20022 Investment Funds Maintenance 2015
[B]
There are inconsistences between the order of sequences between the FundDetailedConfirmedCashForecastReportV03 and
FundDetailedEstimatedCashForecastReportV03 messages should be corrected:
Document1
Produced by SWIFT on 3 July 2014
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ISO 20022 Investment Funds Maintenance 2015
D. Purpose of the change:
Market practice work with asset managers for cash forecasts on funds with a ‘hedge share class’ led
to the identification of gaps in the message and additional data elements are needed, and some data
needs to be specified at both the level of the ‘main’ fund and the share class.
E. Urgency of the request:
Next yearly maintenance cycle (2014/2015).
F. Business examples:
None.
G. SEG recommendation:
Consider
x
Timing
- Next yearly cycle: 2014/2015
(the change will be considered for implementation in the yearly
maintenance cycle which starts in 2014 and completes with the
publication of new message versions in the spring of 2015)
X
- At the occasion of the next maintenance of the messages
(the change will be considered for implementation, but does not
justify maintenance of the messages in its own right – will be
pending until more critical change requests are received for the
messages)
- Urgent unscheduled
(the change justifies an urgent implementation outside of the
normal yearly cycle)
- Other timing:
Comments:
H. Impact analysis:
I.
Implementation:
Document1
Produced by SWIFT on 3 July 2014
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ISO 20022 Investment Funds Maintenance 2015
PART 1 – new elements and multiplicity changes
[1] Fund Detailed Estimated Cash Forecast Report (camt.042)
Diagram – overview of new elements at message level
Document1
Produced by SWIFT on 3 July 2014
55
ISO 20022 Investment Funds Maintenance 2015
Diagram – overview of new elements and changes in Estimated Fund Cash Forecast Details
sequence:
Document1
Produced by SWIFT on 3 July 2014
56
ISO 20022 Investment Funds Maintenance 2015
[a] Addition of optional elements
[a1]
1
New sequence at message level
Item
Main Fund Details
[a2]
Definition
Information about the main fund when the fund
cash forecast details specifies information for a
share class of the main fund. Typically used in a
‘hedged share class scenario’.
M/O
0.1
Type
New message
component
Elements in new sequence Main Fund Details:
2
Item
Identification
Definition
Identification of the financial instrument.
M/O
0.1
3
4
Name
Currency
Name of the financial instrument.
Currency of the financial instrument.
0.1
0.1
5
Estimated Total NAV
0.1
6
Previous Total NAV
7
Estimated Total Units
Number
Previous Total Units
Number
Estimated Percentage
of Fund Total NAV
Estimated total value of all the holdings, less
the fund's liabilities, of the fund.
Previous total value of all the holdings, less the
fund's liabilities, of the fund.
Estimated total number of units.
0.1
Type
Security Identification 3
Choice
Max 35 Text
Active Or Historic
Currency
Active Or Historic
Currency And Amount
Active Or Historic
Currency And Amount
Decimal Number
Previous total number of units.
0.1
Decimal Number
Estimated consolidated net cash flow expressed
as a percentage of the previous total NAV for
the whole fund.
If MainFundDetails is present then either
Identification or Name must be present. Both
Identification and Name are allowed.
0.1
PercentageRate
8
9
MainFundIDName1
Rule
[a3]
0.1
Elements in Estimated Fund Cash Forecast Details sequence:
10
Item
Price
Definition
Price per unit of the previous trade date.
M/O
0.1
11
FX Rate
Foreign exchange rate.
0.1
12
Estimated Percentage
of Share Class Total
NAV
Estimated net cash flow expressed as a
percentage of the previous total NAV for the
share class.
0.1
[a4]
13
Elements in Estimated Fund Cash Forecast Details / Breakdown By Party / Cash In
Forecast / Cash In Breakdown Details
Item
Settlement Currency
[a5]
Document1
Type
ActiveCurrencyAnd13De
cimalAmount
ForeignExchangeTerms1
9 (already exists,
comprises Unit Currency,
Quoted Currency and
Exchange Rate)
PercentageRate
Definition
Settlement currency for the transaction.
M/O
0.1
Type
ActiveCurrencyCode
Elements in Estimated Fund Cash Forecast Details / Breakdown By Party / Cash
Out Forecast / Cash Out Breakdown Details
Produced by SWIFT on 3 July 2014
57
ISO 20022 Investment Funds Maintenance 2015
14
Item
Settlement Currency
Definition
Settlement currency for the transaction.
M/O
0.1
Type
ActiveCurrencyC
ode
[b] Multiplicity Changes:
1
2
3
Sequence
Estimated Fund Cash
Forecast Details
Estimated Fund Cash
Forecast Details
Estimated Fund Cash
Forecast Details
Element
Previous Trade Date Time
Current
1.1
Change to
0.1
Estimated Total NAV
0.1
0.n
Previous Total NAV
0.1
0.n
[c] Other Changes:
1
Sequence
Estimated Fund Cash Forecast Details /
Breakdown By Party
Element
Party
Change
Change type to party and account.
[2] Fund Detailed Confirmed Cash Forecast Report (camt.043)
Diagram – overview of new elements at message level
Document1
Produced by SWIFT on 3 July 2014
58
ISO 20022 Investment Funds Maintenance 2015
Diagram – overview of new elements and changes in Estimated Fund Cash Forecast Details
sequence:
[a] Addition of optional elements
[a1]
1
New sequence at message level
Item
Definition
Main Fund Details
Information about the main fund when the
fund cash forecast details specifies
information for a share class of the main
fund. Typically used in a ‘hedged share class
scenario’.
Document1
Produced by SWIFT on 3 July 2014
Type M
/
O
New message
0
component
.
1
59
ISO 20022 Investment Funds Maintenance 2015
[a2]
Elements in new sequence Main Fund Details:
2
Item
Identification
Definition
Identification of the financial instrument.
M/O
0.1
3
4
Name
Currency
Name of the financial instrument.
Currency of the financial instrument.
0.1
0.1
5
Total NAV
0.1
6
Previous Total NAV
7
8
Total Units Number
Previous Total Units
Number
Percentage of Fund Total
NAV
Total value of all the holdings, less the fund's
liabilities, of the fund.
Previous total value of all the holdings, less
the fund's liabilities, of the fund.
Total number of units.
Previous total number of units.
0.1
0.1
Type
Security Identification 3
Choice
Max 35 Text
Active Or Historic
Currency
Active Or Historic
Currency And Amount
Active Or Historic
Currency And Amount
Decimal Number
Decimal Number
Consolidated net cash flow expressed as a
percentage of the total NAV for the whole
fund.
If MainFundDetails is present then either
Identification or Name must be present.
Both Identification and Name are allowed.
0.1
PercentageRate
Type
ActiveCurrencyAnd13Deci
malAmount
ForeignExchangeTerms19
(already exists, comprises
Unit Currency, Quoted
Currency and Exchange
Rate)
PercentageRate
9
MainFundIDName1 Rule
[a3]
0.1
Elements in Fund Cash Forecast Details sequence:
10
Item
Price
Definition
Price per unit
M/O
0.1
11
FX Rate
Foreign exchange rate.
0.1
12
Percentage of Share
Class Total NAV
Net cash flow expressed as a percentage of the
total NAV for the share class
0.1
[a4]
13
Item
Settlement Currency
[a5]
13
Elements in Fund Cash Forecast Details / Breakdown By Party / Cash In Forecast /
Cash In Breakdown Details
Definition
Settlement currency for the transaction.
M/O
0.1
Type
ActiveCurrencyCode
Elements in Fund Cash Forecast Details / Breakdown By Party / Cash Out Forecast
/ Cash Out Breakdown Details
Item
Settlement Currency
Definition
Settlement currency for the transaction.
M/O
0.1
Type
ActiveCurrencyCode
[b] Multiplicity Changes:
1
2
Sequence
Fund Cash Forecast Details
Fund Cash Forecast Details
Element
Total NAV
Previous Total NAV
Current
0.1
0.1
Change to
0.n
0.n
[c] Other Changes:
Sequence
Document1
Element
Produced by SWIFT on 3 July 2014
Change
60
ISO 20022 Investment Funds Maintenance 2015
1
Fund Cash Forecast Details / Breakdown
By Party
Party
Change type to party and
account.
[3] Fund Detailed Confirmed Cash Forecast Report Cancellation (camt.045)
The same additions and changes as that specified for the Fund Detailed Confirmed Cash
Forecast Report (camt.043) are applicable to the cancellation message.
New elements at message level
New elements and changes at Breakdown By Party Level
For the sequence Cash Forecast Report To Be Cancelled, replace the data type Fund Detailed
Confirmed Cash Forecast Report 2 by the new version of the component as created for the new
version of the FundDetailedConfirmedCashForecastReport message.
Document1
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61
ISO 20022 Investment Funds Maintenance 2015
PART 2 – Alignment of the order of sequences and elements
[A]
Analysis of the change request led to the realisation that there are inconsistences between the order of sequences between the nondetailed version of the message and the detailed version of the message and it would be better if the messages were aligned. (Green
lines show alignment, red lines show where the order is different.)
If the message structure was changed, there is only an impact on existing users if the optional Net Cash Forecast Details sequence is used.
ISO20022MCR_InvestmentFundsMaintenance2015_v2
Produced by SWIFT 3 July 2014
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ISO 20022 Investment Funds Maintenance 2015
[B]
Analysis of the change request led to the realisation that there are inconsistences between the order of sequences between the order of
sequences between the FundDetailedConfirmedCashForecastReportV03 and FundDetailedEstimatedCashForecastReportV03 messages
and it would be better if the messages were aligned (Green lines show alignment, red lines show where the order is different.):
ISO20022MCR_InvestmentFundsMaintenance2015_v2
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ISO 20022 Investment Funds Maintenance 2015
J.
Proposed timing:
The submitting organisation confirms that it can implement the requested changes in the requested
timing.
Timing
-
As requested
K. Final decision of the SEG(s):
This section is not to be taken care of by the submitting organisation. It will be completed in due time by
the SEG(s) in charge of the related ISO 20022 messages.
Approve
Comments:
Reject
Reason for rejection:
ISO20022MCR_InvestmentFundsMaintenance2015_v2.
Produced by SWIFT 3 July 2014
64
ISO 20022 Investment Funds Maintenance 2015
9 CR0441 (camt) Add optional balances for Hedge Share Class
functionality (ID 759)
A. Origin of the request:
A.1 Submitter:
Working Group
SWIFT Standards on behalf of IMA + UK Fund Cash Forecast Market Practice
A.2 Contact person:
Janice.chapman@swift.com
+32 2 655 3390
A.3 Sponsors:
B. Related messages:
1.
2.
3.
4.
5.
6.
Fund Estimated Cash Forecast Report V03
Fund Confirmed Cash Forecast Report V03
Fund Confirmed Cash Forecast Report Cancellation V02
Fund Detailed Estimated Cash Forecast Report V03
Fund Detailed Confirmed Cash Forecast Report V03
Fund Detailed Confirmed Cash Forecast Report Cancellation V02
camt.040.001.03
camt.041.001.03
camt.044.001.02
camt.042.001.03
camt.043.001.03
camt.045.001.02
C. Description of the change request:
[1]
#
[2]
#
Addition of optional sequence - estimated report
Sequence Name
Definition
Data Type
Additional Balances
Additional balances for cash amounts and number
of units. The total cash derived from orders placed
as a number of units is an estimated cash amount
and the total number of units derived from orders
placed as a cash amount is an estimated number of
units.
New message
component (see
below)
Addition of optional sequence - confirmed report
Sequence Name
Additional Balances
[3]
Definition
Data Type
Additional balances for cash amounts and number
of units.
New message
component (see
below)
Elements of the new message component:
#
Element Name
Definition
1
Total Units From Unit Orders
Total number of units from orders placed in units.
Financial Instrument
Quantity 1
2
Total Cash From Unit Orders
Total amount of cash derived from orders placed as
units.
Active Or Historic
Currency And Amount
3
Total Cash From Cash Orders
Total amount of cash from orders placed in cash.
Active Or Historic
Currency And Amount
4
Total Units From Cash Orders
Number of units derived from orders placed in
cash.
Financial Instrument
Quantity 1
ISO20022MCR_InvestmentFundsMaintenance2015_v2.
Produced by SWIFT 3 July 2014
65
ISO 20022 Investment Funds Maintenance 2015
[4]
The elements will be positioned in the following locations:
[1]
Fund Estimated Cash Forecast Report (camt.040)
[2]
Fund Confirmed Cash Forecast Report (camt.041)
The new sequence will be made added to FundCashForecastDetails/
CashInForecastDetails, CashOutForecastDetails and NetCashForecastDetails.
[3]
Fund Confirmed Cash Forecast Report Cancellation (camt.044)
The new sequence will be made added to CashForecastReportToBeCancelled/
FundCashForecastDetailsCashInForecastDetails, CashOutForecastDetails and
NetCashForecastDetails.
ISO20022MCR_InvestmentFundsMaintenance2015_v2.
Produced by SWIFT 3 July 2014
66
ISO 20022 Investment Funds Maintenance 2015
[4]
[5]
Fund Detailed Estimated Cash Forecast Report (camt.042)
Fund Detailed Confirmed Cash Forecast Report (camt.043)
The new sequence will be made added to FundCashForecastDetails/ BreakdownByParty
/ CashInForecastDetails, CashOutForecastDetails and NetCashForecastDetails (as well
as to Breakdown By Country, Breakdown By Currency, Breakdown By User Defined
ISO20022MCR_InvestmentFundsMaintenance2015_v2.
Produced by SWIFT 3 July 2014
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ISO 20022 Investment Funds Maintenance 2015
Parameter for the cash-in, cash-out and net cash and to the Net Cash sequence at the
‘higher-level).
[6]
Fund Detailed Confirmed Cash Forecast Report Cancellation (camt.045)
The new sequence will be made added to CashForecastReportToBeCancelled/
FundCashForecastDetails / BreakdownByParty/ CashInForecastDetails,
CashOutForecastDetails and NetCashForecastDetails (as well as to Breakdown By
Country, Breakdown By Currency, Breakdown By User Defined Parameter for the cashin, cash-out and net cash and to the Net Cash sequence at the ‘higher-level).
Additional Notes for Change Request CR0387
[1]
The addition of optional settlement currency is proposed only for the BreakdownByParty. This
should perhaps be extended to Breakdown By Country, Breakdown By Currency and Breakdown
By User Defined Parameter.
[2]
Perhaps there should be something added to the message scope/usage that reports using
Breakdown By Party, Breakdown By Country, Breakdown By Currency and Breakdown By User
Defined Parameter should not be mixed in the same message instance?
D. Purpose of the change:
Market practice work with asset managers for cash forecasts on funds with a ‘hedge share class’ led to
the identification of gaps in the message and additional data elements are needed. This is additional data
that may benefit the wider community of funds cash forecast messages.
E. Urgency of the request:
Next yearly maintenance cycle (2014/2015).
F. Business examples:
None.
G. SEG recommendation:
Consider
x
Timing
- Next yearly cycle: 2014/2015
(the change will be considered for implementation in the yearly
maintenance cycle which starts in 2014 and completes with the
publication of new message versions in the spring of 2015)
X
- At the occasion of the next maintenance of the messages
(the change will be considered for implementation, but does not
justify maintenance of the messages in its own right – will be
pending until more critical change requests are received for the
messages)
- Urgent unscheduled
(the change justifies an urgent implementation outside of the
normal yearly cycle)
- Other timing:
Comments:
ISO20022MCR_InvestmentFundsMaintenance2015_v2.
Produced by SWIFT 3 July 2014
68
ISO 20022 Investment Funds Maintenance 2015
H. Impact analysis:
I.
[1]
#
[2]
#
Implementation:
Addition of optional sequence - estimated reports
Sequence Name
Definition
Data Type
Additional Balances
Additional balances for cash amounts and number
of units. The total cash derived from orders placed
as a number of units is an estimated cash amount
and the total number of units derived from orders
placed as a cash amount is an estimated number of
units.
New message
component (see
below)
Addition of optional sequence - confirmed reports
Sequence Name
Additional Balances
[3]
Definition
Data Type
Additional balances for cash amounts and number
of units.
New message
component (see
below)
Elements of the new message component:
#
Element Name
Definition
1
Total Units From Unit Orders
Total number of units from orders placed in units.
Financial Instrument
Quantity 1
2
Total Cash From Unit Orders
Total amount of cash derived from orders placed as
units.
Active Or Historic
Currency And Amount
3
Total Cash From Cash Orders
Total amount of cash from orders placed in cash.
Active Or Historic
Currency And Amount
4
Total Units From Cash Orders
Number of units derived from orders placed in
cash.
Financial Instrument
Quantity 1
[4]
The elements will be positioned in the following locations:
[1]
Fund Estimated Cash Forecast Report (camt.040)
ISO20022MCR_InvestmentFundsMaintenance2015_v2.
Produced by SWIFT 3 July 2014
69
ISO 20022 Investment Funds Maintenance 2015
[2]
Fund Confirmed Cash Forecast Report (camt.041)
The new sequence will be made added to FundCashForecastDetails/
CashInForecastDetails, CashOutForecastDetails and NetCashForecastDetails.
[3]
Fund Confirmed Cash Forecast Report Cancellation (camt.044)
The new sequence will be made added to CashForecastReportToBeCancelled/
FundCashForecastDetailsCashInForecastDetails, CashOutForecastDetails and
NetCashForecastDetails.
ISO20022MCR_InvestmentFundsMaintenance2015_v2.
Produced by SWIFT 3 July 2014
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ISO 20022 Investment Funds Maintenance 2015
[4]
[5]
Fund Detailed Estimated Cash Forecast Report (camt.042)
Fund Detailed Confirmed Cash Forecast Report (camt.043)
ISO20022MCR_InvestmentFundsMaintenance2015_v2.
Produced by SWIFT 3 July 2014
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ISO 20022 Investment Funds Maintenance 2015
The new sequence will be made added to FundCashForecastDetails/ BreakdownByParty
/ CashInForecastDetails, CashOutForecastDetails and NetCashForecastDetails (as well
as to Breakdown By Country, Breakdown By Currency, Breakdown By User Defined
Parameter for the cash-in, cash-out and net cash and to the Net Cash sequence at the
‘higher-level).
[6]
Fund Detailed Confirmed Cash Forecast Report Cancellation (camt.045)
The new sequence will be made added to CashForecastReportToBeCancelled/
FundCashForecastDetails / BreakdownByParty/ CashInForecastDetails,
CashOutForecastDetails and NetCashForecastDetails (as well as to Breakdown By
Country, Breakdown By Currency, Breakdown By User Defined Parameter for the cashin, cash-out and net cash and to the Net Cash sequence at the ‘higher-level).
Additional Notes for Change Request CR0387
[1]
J.
The addition of optional settlement currency proposed in the change requested was proposed
only for the BreakdownByParty. This change should also be applied to the Breakdown By
Country, Breakdown By Currency and Breakdown By User Defined Parameter sequences, so
that these breakdown sequences remain aligned.
Proposed timing:
The submitting organisation confirms that it can implement the requested changes in the requested
timing.
Timing
-
As requested
K. Final decision of the SEG(s):
This section is not to be taken care of by the submitting organisation. It will be completed in due time by
the SEG(s) in charge of the related ISO 20022 messages.
Approve
Comments:
Reject
Reason for rejection:
ISO20022MCR_InvestmentFundsMaintenance2015_v2.
Produced by SWIFT 3 July 2014
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ISO 20022 Investment Funds Maintenance 2015
10 CR0394 (camt) Update Definition Trade Date Time (ID 760)
A. Origin of the request:
A.1 Submitter:
Working Group
SWIFT Standards on behalf of IMA + UK Fund Cash Forecast Market Practice
A.2 Contact person:
Janice.chapman@swift.com
+32 2 655 3390
A.3 Sponsors:
B. Related messages:
1.
2.
Fund Estimated Cash Forecast Report V03
Fund Detailed Estimated Cash Forecast Report V03
camt.040.001.03
camt.042.001.03
C. Description of the change request:
The definition of the element TradeDateTime in both messages is to be refined:
Current Definition
Date and, if required, the time, at which the price has
been applied.
Proposed Definition
Date and, if required, the time, at which the price will
be applied.
C. Purpose of the change:
Market practice work has shown the current definition is confusing and causing implementers of the
message to raise support questions, that data is missing from the message. This is because the
language used in the definition of TradeDateTime suggests the price date is a date in the past. In an
estimated report, an estimated cash balance is specified based on the date at which the price will be
applied, that is, the date of the next execution point.
D. Urgency of the request:
Next yearly maintenance cycle (2014/2015).
E. Business examples:
None.
G. SEG recommendation:
Consider
x
Timing
- Next yearly cycle: 2014/2015
(the change will be considered for implementation in the yearly
maintenance cycle which starts in 2014 and completes with the
publication of new message versions in the spring of 2015)
X
- At the occasion of the next maintenance of the messages
(the change will be considered for implementation, but does not
justify maintenance of the messages in its own right – will be
pending until more critical change requests are received for the
messages)
- Urgent unscheduled
(the change justifies an urgent implementation outside of the
normal yearly cycle)
ISO20022MCR_InvestmentFundsMaintenance2015_v2.
Produced by SWIFT 3 July 2014
73
ISO 20022 Investment Funds Maintenance 2015
- Other timing:
Comments:
H. Impact analysis:
I.
Implementation:
The definition of the element TradeDateTime in both messages is to be refined:
Current Definition
Date and, if required, the time, at which the price has
been applied.
J.
Proposed Definition
Date and, if required, the time, at which the price will
be applied.
Proposed timing:
The submitting organisation confirms that it can implement the requested changes in the requested
timing.
Timing
-
As requested
K. Final decision of the SEG(s):
This section is not to be taken care of by the submitting organisation. It will be completed in due time by
the SEG(s) in charge of the related ISO 20022 messages.
Approve
Comments:
Reject
Reason for rejection:
ISO20022MCR_InvestmentFundsMaintenance2015_v2.
Produced by SWIFT 3 July 2014
74
ISO 20022 Investment Funds Maintenance 2015
11 CR0395 (camt) Add optional element for ‘Offshore’ (ID 761)
A. Origin of the request:
A.1 Submitter:
Working Group
SWIFT Standards on behalf of IMA + UK Fund Cash Forecast Market Practice
A.2 Contact person:
Janice.chapman@swift.com
+32 2 655 3390
A.3 Sponsors:
B. Related messages:
1.
2.
3.
4.
5.
6.
Fund Estimated Cash Forecast ReportV03
Fund Confirmed Cash Forecast Report V03
Fund Detailed Estimated Cash Forecast Report V03
Fund Detailed Confirmed Cash Forecast Report V03
Fund Confirmed Cash Forecast Report Cancellation V02
Fund Detailed Confirmed Cash Forecast Report Cancellation V02
camt.040.001.03
camt.041.001.03
camt.042.001.03
camt.043.001.03
camt.044.001.02
camt.045.001.02
C. Description of the change request:
Addition of optional sequence for information about the currency.
Sequence
CurrencyStatus
Definition
Information about the designation of the share
class currency, that is, whether it is for onshore
or offshore purposes and other information
that may be required.
Data Type
New message component. See
below.
New Message Component
Element
CurrencyDesignation
Location
Additional Information
Definition
Specifies whether the currency is
settled offshore or onshore.
Location of the offshore currency.
Additional information about the offshore currency.
M/O
0.1
Data Type
Code List 1. See below
0.1
0.1
Country Code
Max350Text
Code List 1
Code
OFFS
ONSH
Code Name
OffShore
OnShore
Definition
Offshore.
Onshore.
The sequence would be position in the estimated messages as follows:
ISO20022MCR_InvestmentFundsMaintenance2015_v2.
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75
ISO 20022 Investment Funds Maintenance 2015
D. Purpose of the change:
Market practice work with asset managers for cash forecasts on funds with a ‘hedge share class’ led to
the discovery of a gap for the cash forecast reporting messages. The cash forecast report needs to be
able to indicate that the CNY is onshore verses offshore and to indicate the location, for example,
Hongkong verses Macao and so on.
E. Urgency of the request:
Next yearly maintenance cycle (2014/2015).
F. Business examples:
None.
G. SEG recommendation:
Consider
x
Timing
- Next yearly cycle: 2014/2015
(the change will be considered for implementation in the yearly
maintenance cycle which starts in 2014 and completes with the
publication of new message versions in the spring of 2015)
X
- At the occasion of the next maintenance of the messages
(the change will be considered for implementation, but does not
justify maintenance of the messages in its own right – will be
pending until more critical change requests are received for the
ISO20022MCR_InvestmentFundsMaintenance2015_v2.
Produced by SWIFT 3 July 2014
76
ISO 20022 Investment Funds Maintenance 2015
messages)
- Urgent unscheduled
(the change justifies an urgent implementation outside of the
normal yearly cycle)
- Other timing:
Comments:
H. Impact analysis:
Definition of CurrencyStatus element should include ‘“This should only be used for CNY.”
I.
Implementation:
Addition of optional sequence for information about the currency.
The sequence would be positioned in the messages as follows:
ISO20022MCR_InvestmentFundsMaintenance2015_v2.
Produced by SWIFT 3 July 2014
77
ISO 20022 Investment Funds Maintenance 2015
The new element:
Sequence
CurrencyStatus
Definition
Information about the designation of the
share class currency, that is, whether it is for
onshore or offshore purposes and other
information that may be required. “This
should only be used for CNY.”
Data Type
New message component. See
below.
New Message Component
Element
CurrencyDesignation
Location
Additional Information
Definition
Specifies whether the currency is
settled offshore or onshore.
Location of the offshore currency.
Additional information about the offshore currency.
M/O
0.1
Data Type
Code List 1. See below
0.1
0.1
Country Code
Max350Text
Code List 1
Code
OFFS
ONSH
J.
Code Name
Offshore
Onshore
Definition
Offshore.
Onshore.
Proposed timing:
The submitting organisation confirms that it can implement the requested changes in the requested
timing.
Timing
-
As requested
K. Final decision of the SEG(s):
This section is not to be taken care of by the submitting organisation. It will be completed in due time by
the SEG(s) in charge of the related ISO 20022 messages.
Approve
Comments:
Reject
Reason for rejection:
ISO20022MCR_InvestmentFundsMaintenance2015_v2.
Produced by SWIFT 3 July 2014
78
ISO 20022 Investment Funds Maintenance 2015
12 CR0342 (camt) Replace XOR Construct with Choice Component
(ID 762)
A. Origin of the request:
A.1 Submitter :
SWIFT Standards (submitted 13 February 2014)
A.2 Contact person:
Janice Chapman
janice.chapman@swift.com
+32 2 655 3390
A.3 Sponsor:
B. Related messages:
1.
2.
3.
Fund Detailed Estimated Cash Forecast Report V03
Fund Detailed Confirmed Cash Forecast Report V03
Fund Detailed Confirmed Cash Forecast Report Cancellation V02
camt.042.001.03
camt.043.001.03
camt.045.001.02
C. Description of the change request:
Replacement of XOR construction with a choice component for the following:
#
1
2
3
4
5
6
Elements in the XOR or
comment
Fund Detailed Estimated Cash Forecast Report
BreakdownByParty (Breakdown By Party 1) /
Cash In Forecast (Cash In Forecast 3) /
Cash In Breakdown Details (Fund Cash In Breakdown2)
Investment Fund
Transaction In Type
Extended Investment Fund
Transaction In Type
Original Order Quantity Type
Extended Original Order
Quantity Type
Type
Extended Type
BreakdownByParty (Breakdown By Party 1) /
Cash In Forecast (Cash In Forecast 3) /
Cash In Breakdown Details (Fund Cash In Breakdown2)
BreakdownByParty (Breakdown By Party 1) /
Cash In Forecast (Cash In Forecast 3) /
Cash In Breakdown Details (Fund Cash In Breakdown2) /
Charge Details (Charge16)
BreakdownByParty (Breakdown By Party 1) /
Cash In Forecast (Cash In Forecast 3) /
Cash In Breakdown Details (Fund Cash In Breakdown2) /
Charge Details (Charge16)
BreakdownByParty (Breakdown By Party 1) /
Cash In Forecast (Cash In Forecast 3) /
Cash In Breakdown Details (Fund Cash In Breakdown2) /
Commission Details (Commission9)
BreakdownByParty (Breakdown By Party 1) /
Cash In Forecast (Cash In Forecast 3) /
Cash In Breakdown Details (Fund Cash In Breakdown2) /
Commission Details (Commission9)
Type
Extended Type
+ replace
‘extended’ by
Proprietary
Amount
Rate
BreakdownByParty (Breakdown By Party 1) /
Cash Out Forecast (Cash Out Forecast 3) /
Cash Out Breakdown Details (Fund Cash Out Breakdown2)
8
BreakdownByParty (Breakdown By Party 1) /
Cash Out Forecast (Cash Out Forecast 3) /
Cash Out Breakdown Details (Fund Cash Out Breakdown2)
BreakdownByParty (Breakdown By Party 1) /
Cash Out Forecast (Cash Out Forecast 3) /
Cash Out Breakdown Details (Fund Cash Out Breakdown2) /
ISO20022MCR_InvestmentFundsMaintenance2015_v2.
+ replace
‘extended’ by
Proprietary
+ replace
‘extended’ by
Proprietary
Amount
Rate
7
9
Note
Investment Fund
Transaction In Type
Extended Investment Fund
Transaction In Type
Original Order Quantity Type
Extended Original Order
Quantity Type
Use new version of Charges16
Produced by SWIFT 3 July 2014
+ replace
‘extended’ by
Proprietary
+ replace
‘extended’ by
Proprietary
79
ISO 20022 Investment Funds Maintenance 2015
#
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
Elements in the XOR or
comment
Charge Details (Charge16)
BreakdownByParty (Breakdown By Party 1) /
Cash Out Forecast (Cash Out Forecast 3) /
Cash Out Breakdown Details (Fund Cash In Breakdown2) /
Charge Details (Charge16)
BreakdownByParty (Breakdown By Party 1) /
Cash Out Forecast (Cash Out Forecast 3) /
Cash Out Breakdown Details (Fund Cash Out Breakdown2) /
Commission Details (Commission9)
BreakdownByParty (Breakdown By Party 1) /
Cash Out Forecast (Cash Out Forecast 3) /
Cash Out Breakdown Details (Fund Cash Out Breakdown2) /
Commission Details (Commission9)
Note
Use new version of Charges16
Use new version of Commission 9
Use new version of Commission 9
BreakdownByCountry (Breakdown By Country 1) /
Cash In Forecast (Cash In Forecast 3) /
Cash In Breakdown Details (Fund Cash In Breakdown2
BreakdownByCountry (Breakdown By Country 1) /
Cash Out Forecast (Cash Out Forecast 3) /
Cash Out Breakdown Details (Fund Cash Out Breakdown2)
Use new version of Cash In Forecast 3
BreakdownByCountry (Breakdown By Country 1) /
Cash In Forecast (Cash In Forecast 3)
BreakdownByCountry (Breakdown By Country 1) /
Cash Out Forecast (Cash Out Forecast 3)
Use new version of Cash In Forecast 3
BreakdownByCurrency (Breakdown By Currency 1) /
Cash In Forecast (Cash In Forecast 3)
BreakdownByCurrency (Breakdown By Currency 1) /
Cash Out Forecast (Cash Out Forecast 3)
Use new version of Cash In Forecast 3
BreakdownByUserDefinedParameter (Breakdown By User
Defined Parameter 1) / Cash In Forecast (Cash In Forecast 3)
BreakdownByUserDefinedParameter (Breakdown By User
Defined Parameter 1) / Cash Out Forecast (Cash Out Forecast 3)
Use new version of Cash In Forecast 3
Use new version of Cash Out Forecast 3
Use new version of Cash Out Forecast 3
Use new version of Cash Out Forecast 3
Use new version of Cash Out Forecast 3
Fund Detailed Confirmed Cash Forecast Report & Fund Detailed Confirmed Cash Forecast Report Cancellation
BreakdownByParty
Use new version of Breakdown By Party 1
BreakdownByCountry
Use new version of Breakdown By Country 1
BreakdownByCurrency
Use new version of Breakdown By Currency 1
BreakdownByUserDefinedParameter
Use new version of Breakdown By User
Defined Parameter 1
Analysis indicates that the detailed versions of the funds cash forecast messages are impacted and not the nondetailed messages.
D. Purpose of the change:
Under the new edition ISO 20022:2013, ‘unnamed’ choices (known as XOR choices) are forbidden and
should be replaced by ‘named’ Choice Components. Unnamed choices are difficult to implement as they
require an implementer to 'invent' a name for the choice. Unnamed choices may also be confusing to a
user if a choice has to be made without any context as to why the choice is there.
The replacement of Extended to Proprietary is a requirement for ISO 20022.
E. Urgency of the request:
ISO20022MCR_InvestmentFundsMaintenance2015_v2.
Produced by SWIFT 3 July 2014
80
ISO 20022 Investment Funds Maintenance 2015
Next yearly maintenance cycle (2014/2015).
It was originally planned that this kind of change would be done in a later maintenance cycle. However, it
would actually be better on resources for SEG Investment Funds Evaluation Team and the organisation
responsible for carrying out the maintenance to do this technical modification in the next maintenance
cycle, that is 2014/2015. It also makes sense to carry out this change whilst adoption rates are still low
for these messages so as to minimise the impact.
F. Business examples:
None
G. SEG recommendation:
Consider
x
Timing
- Next yearly cycle: 2014/2015
(the change will be considered for implementation in the yearly
maintenance cycle which starts in 2014 and completes with the
publication of new message versions in the spring of 2015)
X
- At the occasion of the next maintenance of the messages
(the change will be considered for implementation, but does not
justify maintenance of the messages in its own right – will be
pending until more critical change requests are received for the
messages)
- Urgent unscheduled
(the change justifies an urgent implementation outside of the
normal yearly cycle)
- Other timing:
Comments:
H. Impact analysis:
ISO20022MCR_InvestmentFundsMaintenance2015_v2.
Produced by SWIFT 3 July 2014
81
ISO 20022 Investment Funds Maintenance 2015
I.
Implementation:
[1] Fund Detailed Estimated Cash Forecast Report / Estimated Fund Cash Forecast Details / Breakdown By Party /
The table shows the elements in the various XORs and how they are to be replaced.
Elements of the
XOR
Replace by
Element Name
Element Definition
Elemen
t M/O
Choice Component
Name & Definition
Elements of the
Choice
Component
Definition of
choice element
Data Type for
choice
element
Choice
elemen
t M/O
Cash In
Forecast /
Cash In
Breakdown
Details
Investment Fund
Transaction In
Type
Investment
Fund
Transaction In
Type
Type of transaction
that resulted in the
cash-in movement,
for example,
subscription, switchin.
1.1
Investment Fund
Transaction In Type
N Choice
Code
Transaction type
expressed as a
code.
1..1
Definition: Choice of
formats for the
transaction-in type.
Proprietary
Transaction type
expressed as a
proprietary
code.
InvestmentF
undTransacti
onInType1C
ode
Generic
Identificatio
n 13
Cash In
Forecast /
Cash In
Breakdown
Details
Original Order
Quantity Type
Specifies how the
original order was
expressed that
resulted in the cashin movement, that is
cash or units.
1..1
Quantity Type N
Choice
Code
Proprietary
OrderQuanti
tyType2Cod
e
Generic
Identificatio
n 13
1..1
Definition: Choice of
formats for the
quantity.
Quantity type
expressed as a
code.
Quantity type
expressed as a
proprietary
code.
Cash In
Forecast /
Cash In
Breakdown
Details /
Charge
Details
Type
Type of investment
fund order.
1.1
ChargeType N Choice
Code
Charge Type
10 Code
1..1
Definition: Choice of
formats for the type
of charge.
Proprietary
Charge type
expressed as a
code.
Charge type
expressed as a
proprietary
code.
Generic
Identificatio
n 13
1..1
Cash In
Forecast /
Cash In
Amount
Amount of
money.
ActiveCurren
cyAnd13Deci
malAmount
1..1
#
1
2
3
4
Extended
Investment Fund
Transaction In
Type
Original Order
Quantity Type
Extended Original
Order Quantity
Type
Type
Extended Type
ChargeApplie
d
ISO20022MCR_InvestmentFundsMaintenance2015_v2
Change amount or
charge rate applied.
1..1
AmountOrRate N
Choice
Produced by SWIFT 3 July 2014
Amount
82
1..1
1..1
ISO 20022 Investment Funds Maintenance 2015
Elements of the
XOR
#
5
6
Breakdown
Details /
Charge
Details
Rate
Cash In
Forecast /
Cash In
Breakdown
Details /
Commission
Details
Type
Cash In
Forecast /
Cash In
Breakdown
Details /
Commission
Details
Amount
#
1
Cash Out
Forecast /
Cash Out
Breakdown
Details
Replace by
Element Name
Element Definition
Elemen
t M/O
Choice Component
Name & Definition
Elements of the
Choice
Component
Definition of
choice element
Data Type for
choice
element
Choice
elemen
t M/O
Rate
Rate used to
calculate the
amount
PercentageR
ate
1..1
Commission Type N
Choice
Definition: Choice of
formats for the
commission type
basis.
Code
Commission
type expressed
as a code.
Commission
type expressed
as a proprietary
code.
Commission
Type6Code
1..1
Generic
Identificatio
n 13
1..1
AmountOrRate N
Choice
Amount
Amount of
money.
1..1
Definition: Choice
between an amount
or rate.
Rate
Rate used to
calculate the
amount
ActiveCurren
cyAnd13Deci
malAmount
PercentageR
ate
Definition: Choice
between an amount
or rate.
Commission
Type
Type of commission.
1..1
Extended Type
CommissionA
pplied
Commission amount
or commission rate
applied.
1..1
Rate
Proprietary
1..1
Elements of the
XOR
Replace by
Element
Name
Element Definition
Eleme
nt
M/O
Choice Component
Name & Definition
Elements of
the Choice
Component
Definition of
choice element
Data Type
for choice
element
Choice
eleme
nt
M/O
Investment Fund
Transaction Out
Type
Investment
Fund
Transaction In
Type
Type of transaction
that resulted in the
cash-out movement,
for example,
redemption, switchout.
1.1
Investment Fund
Transaction Out Type
N Choice
Code
Transaction type
expressed as a
code.
1..1
Definition: Choice of
formats for the
transaction-out type.
Proprietary
Transaction type
expressed as a
proprietary code.
InvestmentF
undTransacti
onOutType1
Code
Generic
Identificatio
n 13
Extended
Investment Fund
Transaction Out
Type
ISO20022MCR_InvestmentFundsMaintenance2015_v2
Produced by SWIFT 3 July 2014
83
1..1
ISO 20022 Investment Funds Maintenance 2015
Elements of the
XOR
Replace by
Element
Name
Element Definition
Eleme
nt
M/O
Choice Component
Name & Definition
Cash Out
Forecast /
Cash Out
Breakdown
Details
Original Order
Quantity Type
Extended Original
Order Quantity
Type
Original Order
Quantity Type
Specifies how the
original order was
expressed that
resulted in the cashout movement, that
is cash or units.
1..1
RE-USE CHOICE COMPONENT FROM ABOVE
3
Cash Out
Forecast /
Cash Out
Breakdown
Details /
Charge
Details
Type
Extended Type
RE-USE MESSAGE COMPONENT FROM ABOVE (new version of Charge Details 16)
6
Cash Out
Forecast /
Cash Out
Breakdown
Details /
Charge
Details
Amount
Rate
RE-USE MESSAGE COMPONENT FROM ABOVE (new version of Charge 16)
7
Cash Out
Forecast /
Cash Out
Breakdown
Details /
Commissio
n Details
Type
Extended Type
RE-USE MESSAGE COMPONENT FROM ABOVE (new version of Commission 9)
8
Cash Out
Forecast /
Amount
RE-USE MESSAGE COMPONENT FROM ABOVE (new version of Commission 9)
#
2
Elements of
the Choice
Component
(Quantity Type N Choice)
Rate
ISO20022MCR_InvestmentFundsMaintenance2015_v2
Produced by SWIFT 3 July 2014
84
Definition of
choice element
Data Type
for choice
element
Choice
eleme
nt
M/O
ISO 20022 Investment Funds Maintenance 2015
Elements of the
XOR
#
Replace by
Element
Name
Element Definition
Eleme
nt
M/O
Choice Component
Name & Definition
Elements of
the Choice
Component
Definition of
choice element
Data Type
for choice
element
Choice
eleme
nt
M/O
Cash Out
Breakdown
Details /
Commissio
n Details
[2]
Fund Detailed Estimated Cash Forecast Report / Estimated Fund Cash Forecast Details / Breakdown By County /
[1]
[3]
Fund Detailed Estimated Cash Forecast Report / Estimated Fund Cash Forecast Details / Breakdown ByCurrency /
[1]
[4]
Re-use the new version of the Breakdown By Currency1 message component for the element Breakdown By Currency
Fund Detailed Confirmed Cash Forecast Report / Fund Cash Forecast Details / Breakdown ByUserDefinedParameter /
[1]
[9]
Re-use the new version of the Breakdown By Country 1 message component for the element Breakdown By Country
Fund Detailed Confirmed Cash Forecast Report / Fund Cash Forecast Details / Breakdown By Currency /
[1]
[8]
Re-use the new version of the Breakdown By Party 1 message component for the element Breakdown By Party
Fund Detailed Confirmed Cash Forecast Report / Fund Cash Forecast Details / Breakdown By Country /
[1]
[7]
Re-use the new version of the CashInForecast3 and CashOutForecast3 message components for the elements CashInForecast and
CashOutForecast respectively.
Fund Detailed Confirmed Cash Forecast Report / Fund Cash Forecast Details / Breakdown By Party /
[1]
[6]
Re-use the new version of the CashInForecast3 and CashOutForecast3 message components for the elements CashInForecast and
CashOutForecast respectively.
Fund Detailed Estimated Cash Forecast Report / Estimated Fund Cash Forecast Details / Breakdown ByUserDefinedParameter /
[1]
[5]
Re-use the new version of the CashInForecast3 and CashOutForecast3 message components for the elements CashInForecast and
CashOutForecast respectively.
Re-use the new version of the Breakdown By User Defined Parameter 1 message component for the element Breakdown By User
Defined Parameter
Fund Detailed Confirmed Cash Forecast Report Cancellation / CashForecastReportToBeCancelled / FundCashForecastDetails
[1]
Re-use the new version of the Fund Cash Forecast 4 message component for the element Fund Cash Forecast Details
ISO20022MCR_InvestmentFundsMaintenance2015_v2
Produced by SWIFT 3 July 2014
85
ISO 20022 Investment Funds Maintenance 2015
J.
Proposed timing:
The submitting organisation confirms that it can implement the requested changes in the requested
timing.
Timing
-
As requested
K. Final decision of the SEG(s):
This section is not to be taken care of by the submitting organisation. It will be completed in due time by
the SEG(s) in charge of the related ISO 20022 messages.
Approve
Comments:
Reject
Reason for rejection:
ISO20022MCR_InvestmentFundsMaintenance2015_v2
Produced by SWIFT 3 July 2014
86
ISO 20022 Investment Funds Maintenance 2015
13 CR0417 (acmt) Add optional ClientReference &
CounterpartyReference (ID 763)
A. Origin of the request:
A.1 Submitter:
NMPG / Italy
A.2 Contact person:
Andrea Milanesio
andmilanesio@gmail.com
+393479837483
A.3 Sponsors:
B. Related messages:
1.
2.
3.
Account Opening Instruction V04
Account Details Confirmation V04
Account Modification Instruction V04
acmt.001.001.04
acmt.002.001.04
acmt.003.001.04
C. Description of the change request:
Add in InstructionDetails section (or ConfirmationDetails) a new optional element to identify the TO/TI
reference of transfer practice towards SICAV/TA:

CounterpartyReference [0..1] typed by AdditionalReference2
D. Purpose of the change:
It’s required to link an Account Opening to a process of Transfer.
In some cases this is used to create the 'account in’ as preliminary step for the transfer of the unit which
will follow.
CounterpartyReference is already present in Transfer messages
E. Urgency of the request:
Next yearly cycle.
F. Business examples:
G. SEG recommendation:
Consider
x
Timing
- Next yearly cycle: 2014/2015
(the change will be considered for implementation in the yearly
maintenance cycle which starts in 2014 and completes with the
publication of new message versions in the spring of 2015)
X
- At the occasion of the next maintenance of the messages
(the change will be considered for implementation, but does not
justify maintenance of the messages in its own right – will be
pending until more critical change requests are received for the
messages)
- Urgent unscheduled
(the change justifies an urgent implementation outside of the
normal yearly cycle)
ISO20022MCR_InvestmentFundsMaintenance2015_v2
Produced by SWIFT 3 July 2014
87
ISO 20022 Investment Funds Maintenance 2015
- Other timing:
Comments:
H. Impact analysis:
From SWIFT Standards
The change request requests the addition of TO/TI counterparty reference to support the Findel
Single Leg Transfer market practice. In keeping with this, it is suggested that the message should
also contain a ‘client reference’, so that both the transfer-in and transfer-out reference can be
accommodated in the message to the account servicer.
I.
Implementation
Two optional elements are to be added:
Element
Multiplicity
Definition
Data Type
Client Reference
[0.1]
Unique and unambiguous investor's
identification of a transfer.
Max35Text
Counterparty Reference
[0.1]
Unambiguous identification of the transfer
allocated by the counterparty.
Max35Text
The elements are to be added to the following locations
[1]
Account Opening Instruction acmt.001
The change request suggests the new element/s are added in the Instruction Details sequence:
[2]
Account Confirmation Details acmt.002
The change request suggests the new element/s are added in the Confirmation Details sequence:
ISO20022MCR_InvestmentFundsMaintenance2015_v2
Produced by SWIFT 3 July 2014
88
ISO 20022 Investment Funds Maintenance 2015
[3]
Account Modification Instruction acmt.003
The change request suggests the new element/s are added in the Instruction Details sequence:
However, an alternative to this is to insert the new reference in the Order Reference sequence:
ISO20022MCR_InvestmentFundsMaintenance2015_v2
Produced by SWIFT 3 July 2014
89
ISO 20022 Investment Funds Maintenance 2015
See also change request 0388 ‘Transfer Reference’ – the location of these new references in
the message should be looked at together.
J.
Proposed timing:
The submitting organisation confirms that it can implement the requested changes in the requested
timing.
Timing
-
As requested
K. Final decision of the SEG(s):
This section is not to be taken care of by the submitting organisation. It will be completed in due time by
the SEG(s) in charge of the related ISO 20022 messages.
Approve
Comments:
Reject
Reason for rejection:
ISO20022MCR_InvestmentFundsMaintenance2015_v2
Produced by SWIFT 3 July 2014
90
ISO 20022 Investment Funds Maintenance 2015
14 CR0398 (acmt) Add optional TransferReference (ID 764)
A. Origin of the request:
A.1 Submitter:
SWIFT Standards on behalf of SMPG Investment Funds Working Group
A.2 Contact person:
Janice.chapman@swift.com
+32 2 655 3390
A.3 Sponsors:
B. Related messages:
1.
2.
Account Opening Instruction V04
Account Details Confirmation V04
acmt.001.001.04
acmt.002.001.04
C. Description of the change request:
Addition of optional element to specify a transfer reference
Element
TransferReference
Definition
Unique and unambiguous identifier for a transfer instruction, as
assigned by the instructing party.
Data Type
Max35Text
The element will be added in the following locations:
[1]
Account Opening Instruction acmt.001
[2]
Account Details Confirmation acmt.002
The new element will be made added to OrderReference sequence.
D. Purpose of the change:
An account opening message may be sent at the same time an order is placed and therefore the account
may not exist yet and reference is made to the order reference of that order. In a similar way, an account
opening message may be sent at the same time as a transfer is instructed and therefore a link needs to
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be made to the transfer reference of the transfer instruction. Currency the account opening and
confirmation messages do not have a field for this reference.
E. Urgency of the request:
Next yearly maintenance cycle (2014/2015).
F. Business examples:
None.
G. SEG recommendation:
Consider
x
Timing
- Next yearly cycle: 2014/2015
(the change will be considered for implementation in the yearly
maintenance cycle which starts in 2014 and completes with the
publication of new message versions in the spring of 2015)
X
- At the occasion of the next maintenance of the messages
(the change will be considered for implementation, but does not
justify maintenance of the messages in its own right – will be
pending until more critical change requests are received for the
messages)
- Urgent unscheduled
(the change justifies an urgent implementation outside of the
normal yearly cycle)
- Other timing:
Comments:
H. Impact analysis:
Since the submission of this change request and the reviewing CR 0417 ‘add counterparty reference’
and seeing the solution proposed
I.
[a]
SWIFT Standards thinks it might be better to put this transfer reference into the sequence
‘Instruction Details’ in acmt.001 and acmt.003 and ‘Confirmation Details’ in acmt.002.
[b]
This change request should also be applied to acmt.003.
Implementation
The implementation of this change request will depend on the solution chosen for CR 417
Counterparty Reference.
J.
Proposed timing:
The submitting organisation confirms that it can implement the requested changes in the requested
timing.
Timing
-
As requested
K. Final decision of the SEG(s):
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This section is not to be taken care of by the submitting organisation. It will be completed in due time by
the SEG(s) in charge of the related ISO 20022 messages.
Approve
Comments:
Reject
Reason for rejection:
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15 CR0422 (acmt) Add optional Country Issuer to
AccountParties/Individual Person/Other Identification (ID 765)
A. Origin of the request:
A.1 Submitter:
NMPG / Italy
A.2 Contact person:
Andrea Milanesio
andmilanesio@gmail.com
+393479837483
A.3 Sponsors:
B. Related messages:
1.
2.
3.
Account Opening Instruction V04
Account Details Confirmation V04
Account Modification Instruction V04
acmt.001.001.04
acmt.002.001.04
acmt.003.001.04
C. Description of the change request:
Add in IndividualPerson/OtherIdentification section a new optional element to identify the Country issuing
the identification document:

CountryIssuer [0..1] typed by CountryCode
D. Purpose of the change:
In accordance to FATCA law the above information is mandatory to properly support customer's due
diligence/check.
E. Urgency of the request:
Next yearly cycle.
F. Business examples:
G. SEG recommendation:
Consider
x
Timing
- Next yearly cycle: 2014/2015
(the change will be considered for implementation in the yearly
maintenance cycle which starts in 2014 and completes with the
publication of new message versions in the spring of 2015)
X
- At the occasion of the next maintenance of the messages
(the change will be considered for implementation, but does not
justify maintenance of the messages in its own right – will be
pending until more critical change requests are received for the
messages)
- Urgent unscheduled
(the change justifies an urgent implementation outside of the
normal yearly cycle)
- Other timing:
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Comments:
H. Impact analysis:
I.
Implementation
An optional element ‘CountryIssuer’ is to be added:
Element
Multiplicity
Definition
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CountryIssuer
[0.1]
Country that issued the identification
document.
CountryCode
In acmt.001 and acmt, the change is to be made to all instances of Account Parties / … / …/ Party /
Organisation / Other Identification.
In acmt.003, the change is to be made to all instances Modified Account Parties / … / …/ Party /
Organisation / Other Identification.
J.
Proposed timing:
The submitting organisation confirms that it can implement the requested changes in the requested
timing.
Timing
-
As requested
K. Final decision of the SEG(s):
This section is not to be taken care of by the submitting organisation. It will be completed in due time by
the SEG(s) in charge of the related ISO 20022 messages.
Approve
Comments:
Reject
Reason for rejection:
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16 CR0423 (acmt) Add optional Type codes to
AccountParties/Individual Person/Other Identification (ID 766)
A. Origin of the request:
A.1 Submitter:
NMPG / Italy
A.2 Contact person:
Andrea Milanesio
andmilanesio@gmail.com
+393479837483
A.3 Sponsors:
B. Related messages:
1.
2.
3.
Account Opening Instruction V04
Account Details Confirmation V04
Account Modification Instruction V04
acmt.001.001.04
acmt.002.001.04
acmt.003.001.04
C. Description of the change request:
Add in IndividualPerson/OtherIdentification/Type/Code the following new type codes:

ITIN [IndividualTaxpayerIdentificationNumber]

ATIN [AdoptionTaxpayerIdentificationNumber]

GTIN [Tax identification number]
D. Purpose of the change:
In accordance to FATCA law the above information is mandatory to properly support customer's due
diligence/check.
E. Urgency of the request:
Next yearly cycle.
F. Business examples:
G. SEG recommendation:
Consider
x
Timing
- Next yearly cycle: 2014/2015
(the change will be considered for implementation in the yearly
maintenance cycle which starts in 2014 and completes with the
publication of new message versions in the spring of 2015)
X
- At the occasion of the next maintenance of the messages
(the change will be considered for implementation, but does not
justify maintenance of the messages in its own right – will be
pending until more critical change requests are received for the
messages)
- Urgent unscheduled
(the change justifies an urgent implementation outside of the
normal yearly cycle)
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- Other timing:
Comments:
H. Impact analysis:
I.
Implementation
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[1] The new codes are to be added to the parent code is ‘Person Identification Type Code’
PersonIdentificationTypeCode
Definition: Specifies an alternative identification of an individual person, for example, national registration
identification number, passport number.
New Codes
ITIN
IndividualTaxpayerIdentificationNumber
Tax processing number.
ATIN
AdoptionTaxpayerIdentificationNumber
Temporary tax processing number (used in the
domestic adoption of a child).
GTIN
TaxIdentificationNumber
Tax identification number
For explanation of the codes see the Appendix 26.2
[2] A ‘child’ code set is to be created from the revised parent code with the following codes
Code set Name
Code set Definition
Codes
Person Identification Type n Code’
(where N is the next available number in the
dictionary for this kind of child code set)
Specifies an alternative identification of
an individual person, for example,
national registration identification
number, passport number.
AREG
1
CPFA
2
DRLC
3
EMID
4
GUNL
5
IDCD
6
NRIN
7
OTHR
8
PASS
9
POCD
10
SOCS
11
SRSA
12
ITIN
ATIN
GTIN
[3]
In acmt.001 and acmt, the new code list to be used as the data type for to all instances of
Account Parties / … / …/ Party / Organisation / Other Identification / Type
In acmt.001 and acmt, the new code list to be used as the data type for to all instances of
Modified Account Parties / … / …/ Party / Organisation / Other Identification / Type.
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J.
Proposed timing:
The submitting organisation confirms that it can implement the requested changes in the requested
timing.
Timing
-
As requested
K. Final decision of the SEG(s):
This section is not to be taken care of by the submitting organisation. It will be completed in due time by
the SEG(s) in charge of the related ISO 20022 messages.
Approve
Comments:
Reject
Reason for rejection:
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17 CR0424 (acmt) Add optional Tax elements to
AccountParties/Organisation – Tax Identification (ID 767)
A. Origin of the request:
A.1 Submitter:
NMPG / Italy
A.2 Contact person:
Andrea Milanesio
andmilanesio@gmail.com
+393479837483
A.3 Sponsors:
B. Related messages:
1.
2.
3.
Account Opening Instruction V04
Account Details Confirmation V04
Account Modification Instruction V04
acmt.001.001.04
acmt.002.001.04
acmt.003.001.04
C. Description of the change request:
Change in Organisation section the element TaxIdentificationNumber adopting a structure similar to type
GenericIdentification44 used by IndividualPerson
New Structure:
TaxIdentificationNumber [0..n]
Identification[1..1]
Type [1..1]
Code [1..1]


GTIN [Tax identification number]
GIIN [GlobalIntermediaryIdentificationNumber]
Proprietary [1..1]
Identification [1..1]
Issuer [1..1]
Issuer [0..1]
Issue Date [0..1]
Expiry Date [0..1]
CountryIssuer [0..1]
D. Purpose of the change:
This is due to manage all infos related to the Tax Identification Number
E. Urgency of the request:
Next yearly cycle.
F. Business examples:
G. SEG recommendation:
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.
Consider
x
Timing
- Next yearly cycle: 2014/2015
(the change will be considered for implementation in the yearly
maintenance cycle which starts in 2014 and completes with the
publication of new message versions in the spring of 2015)
X
- At the occasion of the next maintenance of the messages
(the change will be considered for implementation, but does not
justify maintenance of the messages in its own right – will be
pending until more critical change requests are received for the
messages)
- Urgent unscheduled
(the change justifies an urgent implementation outside of the
normal yearly cycle)
- Other timing:
Comments:
H. Impact analysis:
I.
Implementation
Currently the element ‘Party’ / Organisation / Tax Identification Number is typed by Max35Text.
[1]
The element name and its data type is to be changed:.
Element
Multiplicity
Definition
Data Type
Tax Identification
Number
[0.1]
Number assigned by a tax authority to
an entity.
Max 35 Text
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Tax Identification
Tax identification information.
New message component
[2]
New message component
Name
Definition
Element
Identification
Type
Issuer
Issue Date
Expiry Date
Country Issuer
[3]
Data Type
Max35Text
TaxTypeNChoice (see below)
Max35Text
ISO Date
ISO Date
Country Code
New Choice Component
Name
Definition
Element
Code
Proprietary
[4]
TaxN (where N is the next number to be assigned)
Tax identification information
Multiplicity Definition
[1]
Tax identification number
[1]
Type of tax identification number.
[0.1]
Entity that assigns the identifier.
[0.1]
Date at which the identification was
issued.
[0.1]
Date at which the identification
expires.
[0.1]
Country that issued the tax
identification.
TaxTypeNChoice
Choice of formats for the type of tax.
Multiplicity Definition
[1]
Type of tax identification number
expressed as a code.
[1]
Type of tax identification number
expressed as a proprietary code.
Data Type
TaxTypeNNCode
Generic Identification 50
(already exists)
A new parent code list ‘TaxIdentificationNumberTypeCode is to be created
TaxIdentificationNumberTypeCode
Definition: Specifies the type of tax identification number.
New Codes
GTIN
TaxIdentificationNumber
Tax identification number
GIIN
GlobalIntermediaryIdentificationNumber
Global intermediary tax identification number
[5]
A ‘child’ code set is to be created from the parent code with the following codes
Code set Name
TaxIdentificationNumberTypeNNCode
(where N is the next available number in the
dictionary for this kind of child code set)
[6]
Code set Definition
Codes
Type of tax identification number.
GTIN
GIIN
In acmt.001 and acmt, the change is to be made to all instances of Account Parties / … / …/
Party / Organisation (/ Tax Identification Number.
In acmt.003, the change is to be made to all instances Modified Account Parties / … / …/ Party /
Organisation / Tax Identification Number.
J.
Proposed timing:
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The submitting organisation confirms that it can implement the requested changes in the requested
timing.
Timing
-
As requested
K. Final decision of the SEG(s):
This section is not to be taken care of by the submitting organisation. It will be completed in due time by
the SEG(s) in charge of the related ISO 20022 messages.
Approve
Comments:
Reject
Reason for rejection:
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18 CR0425 (acmt) Add optional FATCA Form Type to Party/Individual
and AccountParties/Organisation (ID 768)
A. Origin of the request:
A.1 Submitter:
NMPG / Italy
A.2 Contact person:
Andrea Milanesio
andmilanesio@gmail.com
+393479837483
A.3 Sponsors:
B. Related messages:
1.
2.
3.
Account Opening Instruction V04
Account Details Confirmation V04
Account Modification Instruction V04
acmt.001.001.04
acmt.002.001.04
acmt.003.001.04
C. Description of the change request:
Add in IndividualPerson and Organisation section a new multiple optional element to identify the FATCA
form type submitted by investor:

FATCAFormType[0..n]
Code [1..1]

CRTA [W8-IMY]

CRTB [W9]

CRTC [W8-BEN]

CRTD [W8-BEN-E]

CRTE [I-407 (Self Certification of Loss of Nationality)]

CRTF [Certificate of Loss of Nationality]

CRTG [Self Certification]
Proprietary [1..1]
Identification [1..1]
Issuer [1..1]
D. Purpose of the change:
In accordance to FATCA law the above information is mandatory to properly support customer's due
diligence/check.
E. Urgency of the request:
Next yearly cycle.
F. Business examples:
G. SEG recommendation:
Consider
x
Timing
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- Next yearly cycle: 2014/2015
(the change will be considered for implementation in the yearly
maintenance cycle which starts in 2014 and completes with the
publication of new message versions in the spring of 2015)
X
- At the occasion of the next maintenance of the messages
(the change will be considered for implementation, but does not
justify maintenance of the messages in its own right – will be
pending until more critical change requests are received for the
messages)
- Urgent unscheduled
(the change justifies an urgent implementation outside of the
normal yearly cycle)
- Other timing:
Comments:
H. Impact analysis:
For the Proprietary element, a generic component comprising Identification, Issuer and Schema
name is to be used.
I.
Implementation
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Currently the element ‘Party’ / Organisation / Tax Identification Number is typed by Max35Text.
[1]
The element name and its data type is to be changed:.
Element
Multiplicity
Definition
Data Type
FATCAFormType
[0.n]
Type of Foreign Account Tax
Compliance Act (FATCA) form submitted
New choice component
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by the investor.
[2]
New choice component
Name
Definition
Element
Code
Proprietary
[3]
FATCAFormNChoice
Choice of formats for the type of Foreign Account Tax Compliance Act (FATCA) form.
Multiplicity
Definition
Data Type
[1]
Type of Foreign Account Tax
FATCAFormTypeNNCode
Compliance Act (FATCA) form expressed
as a code.
[1]
Type of Foreign Account Tax
Generic Identification 50
Compliance Act (FATCA) form expressed (already exists)
as a proprietary code.
A new parent code list ‘FATCAFormTypeCode’ is to be created
FATCAFormTypeNNCode
Definition: Specifies the type of Foreign Account Tax Compliance Act (FATCA) form.
New Codes
1
CER1
CertificateForeignStatusBeneficialOwner
Certificate of foreign status of beneficial owner
(also known as IRS form W-8BEN).
2
CER2
CertificateLossOfNationality
Certificate of loss of nationality.
3
CER3
SelfCertification
Self certification.
4
CER4
SelfCertificationLossNationality
Self certificate of loss of nationality (also
known as IRS form I-407).
5
CER5
CertificateForeignIntermediary
Certificate of foreign intermediary (also known
as IRS form W-8IMY).
6
CER6
TaxpayerIdentificationNumberRequest
Form is a request for taxpayer identification
number and certification (also known as IRS
form W9).
7
CER7
CertificateForeignPersonsClaim
Certificate of foreign person's claim that
income is effectively connected with the
conduct of a trade or business in the United
States (also known as IRS form W-8BEN-E).
[4]
A ‘child’ code set is to be created from the parent code list with all of the above codes
Code set Name
FATCAFormTypeNNCode
(where N is the next available number in the
dictionary for this kind of child code set)
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Code set Definition
Codes
Specifies the type of Foreign Account
Tax Compliance Act (FATCA) form.
See above
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[5]
In acmt.001 and acmt, the change is to be made to all instances of Account Parties / … / …/
Party / Organisation.
In acmt.003, the change is to be made to all instances Modified Account Parties / … / …/ Party /
Organisation.
J.
Proposed timing:
The submitting organisation confirms that it can implement the requested changes in the requested
timing.
Timing
-
As requested
K. Final decision of the SEG(s):
This section is not to be taken care of by the submitting organisation. It will be completed in due time by
the SEG(s) in charge of the related ISO 20022 messages.
Approve
Comments:
Reject
Reason for rejection:
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19 CR0426 (acmt) Add optional FATCA Status to
AccountParties/Organisation & Party/Individual person (ID 769)
A. Origin of the request:
A.1 Submitter:
NMPG / Italy
A.2 Contact person:
Andrea Milanesio
andmilanesio@gmail.com
+393479837483
A.3 Sponsors:
B. Related messages:
1.
2.
3.
Account Opening Instruction V04
Account Details Confirmation V04
Account Modification Instruction V04
acmt.001.001.04
acmt.002.001.04
acmt.003.001.04
C. Description of the change request:
Add in IndividualPerson and Organisation section a new section 'InvestorFATCAStatus' to support
FATCA processes.
FATCA Status could be multiple because could coexists FATCA Status declared by the investor to the
distributor and a FATCA Status calculated by the distributor
InvestorFatcaStatus [0..n]
Type [1..1]
Code [1..1]
See below table
Proprietary [1..1]
Identification [1..1]
Issuer [1..1]
Source [0..1]
Code [1..1]

DECL [Declared]

CALC [Calculated]
FATCA101
Account Holder Type: Owner-Documented FI with specified US owner(s)
FATCA102
Account Holder Type: Passive Non-Financial Entity with substantial US owner(s)
FATCA103
Account Holder Type: Non-Participating FI
FATCA104
Account Holder Type: Specified US Person
FATCA105
Account Holder Type: Direct Reporting NFFE
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FATCA201
Account Pool Reporting Type: Recalcitrant account holders with US Indicia
FATCA202
Account Pool Reporting Type: Recalcitrant account holders without US Indicia
FATCA203
Account Pool Reporting Type: Dormant accounts
FATCA204
Account Pool Reporting Type: Non-participating foreign financial institutions
FATCA205
Account Pool Reporting Type: Recalcitrant account holders that are US persons
FATCA206
Account Pool Reporting Type: Recalcitrant account holders that are passive NFFEs
D. Purpose of the change:
In accordance to FATCA law the above information is mandatory to properly support customer's due
diligence/check.
E. Urgency of the request:
Next yearly cycle.
F. Business examples:
G. SEG recommendation:
Consider
x
Timing
- Next yearly cycle: 2014/2015
(the change will be considered for implementation in the yearly
maintenance cycle which starts in 2014 and completes with the
publication of new message versions in the spring of 2015)
X
- At the occasion of the next maintenance of the messages
(the change will be considered for implementation, but does not
justify maintenance of the messages in its own right – will be
pending until more critical change requests are received for the
messages)
- Urgent unscheduled
(the change justifies an urgent implementation outside of the
normal yearly cycle)
- Other timing:
Comments:
H. Impact analysis:
I.
Implementation
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Add new element.
[1]
The element name and its data type:.
Element
Multiplicity
Definition
Data Type
InvestorFATCAStatus
[0.n]
Foreign Account Tax Compliance Act
New message component
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(FATCA) status of the investor.
[2]
New message component
Name
Definition
Element
Type
Source
[3]
FATCAStatus (where N is the next number to be assigned)
Foreign Account Tax Compliance Act (FATCA) status information.
Multiplicity Definition
Data Type
[1]
Foreign Account Tax Compliance
New Choice Component - 1 (see
Act (FATCA) status.
below)
[0.1]
Source of the Foreign Account Tax
New Choice Component -2 (see
Compliance Act (FATCA) status.
below)
New Choice Component - 1
Name
Definition
Element
Code
Proprietary
[4]
‘FATCAStatusN’.
FATCAStatusNChoice e
Choice of formats for the Foreign Account Tax Compliance Act (FATCA) status.
Multiplicity Definition
Data Type
[1]
Foreign Account Tax Compliance
FATCAStatus1Code (see below)
Act (FATCA) status expressed as a
code.
[1]
Foreign Account Tax Compliance
Generic Identification 50
Act (FATCA) status expressed as a
(already exists)
proprietary code.
A new parent code list ‘FATCAStatusCode’ is to be created
FATCA Status Code
Definition: Specifies the Foreign Account Tax Compliance Act (FATCA) status.
New Codes
1
FA01
FATCA101
2
FA02
FATCA102
3
4
5
FA03
FA04
FA05
FATCA103
FATCA104
FATCA105
6
FA06
FATCA201
7
FA07
FATCA202
8
9
FA08
FA09
FATCA203
FATCA204
10
FA10
FATCA205
11
FA11
FATCA206
Account holder type is an owner-documented financial institution with
specified US owner(s).
Account holder type is a passive non-financial entity with substantial
US owner(s).
Account holder type is a non-participating financial institution.
Account holder type is a specified US person
Account holder type is a direct reporting non-financial foreign entity
(NFFE).
Account pool reporting type is a recalcitrant account holder with US
indicia.
Account pool reporting type is a recalcitrant account holder without
US indicia.
Account pool reporting type is a dormant account.
Account pool reporting type is a non-participating foreign financial
institution.
Account pool reporting type is a recalcitrant account holder that is a
US person.
Account pool reporting type is recalcitrant account holder that is a
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passive non-financial foreign entity (NFFE).
Notes:
[1]
FATCA101, FATCA102 is official terminology (see IRS website).)
[2]
For definition of Indicia, see appendix23.6
[5]
A ‘child’ code set is to be created from the parent code list with all of the above codes
Code set Name
FATCAStatus1Code
[6]
Codes
Specifies the Foreign Account Tax
Compliance Act (FATCA) status
See above
New Choice Component - 2
Name
Definition
status.
Element
Code
Proprietary
[7]
Code set Definition
FATCASourceNChoice
Choice of formats for the source of the Foreign Account Tax Compliance Act (FATCA)
Multiplicity
[1]
[1]
Definition
Source of the Foreign Account Tax
Compliance Act (FATCA) status
expressed as a code.
Source of Foreign Account Tax
Compliance Act (FATCA) status
expressed as a proprietary code.
Data Type
FATCASourceStatus1Code
Generic Identification 50
(already exists)
A new parent code list ‘FATCASourceStatusCode’ is to be created
FATCA Source Status Code
Definition: Specifies the source of Foreign Account Tax Compliance Act (FATCA) status.
New Codes
1
DECL
Declared
2
CALC
Calculated
[6]
Source of the Foreign Account Tax Compliance Act (FATCA) status is as
declared by the investor.
Source of the Foreign Account Tax Compliance Act (FATCA) status
calculated.
In acmt.001 and acmt, the change is to be made to all instances of Account Parties / … / …/
Party / Organisation.
In acmt.003, the change is to be made to all instances Modified Account Parties / … / …/ Party /
Organisation /.
J.
Proposed timing:
The submitting organisation confirms that it can implement the requested changes in the requested
timing.
Timing
-
As requested
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K. Final decision of the SEG(s):
This section is not to be taken care of by the submitting organisation. It will be completed in due time by
the SEG(s) in charge of the related ISO 20022 messages.
Approve
Comments:
Reject
Reason for rejection:
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20 CR0421 (acmt) Add optional KYC Database Check to
AccountParties/Investor Profile Validation (ID 770)
A. Origin of the request:
A.1 Submitter:
NMPG / Italy
A.2 Contact person:
Andrea Milanesio
andmilanesio@gmail.com
+393479837483
B. Related messages:
1.
2.
3.
Account Opening Instruction V04
Account Details Confirmation V04
Account Modification Instruction V04
acmt.001.001.04
acmt.002.001.04
acmt.003.001.04
C. Description of the change request:
Add in InvestorProfileValidation section a new optional multiple element to identify the presence of
individual or organization into a KYC database on line (eg World-Check):

DataBaseCheck [0..n]

DataBaseIndicator [1..1] type by YesNoIndicator

DataBaseIdentification [0..1] typed by Max35Text
These databases are used by organisations to identify and manage financial, regulatory and reputational
risks.
D. Purpose of the change:
In accordance to Italian KYC and Money Laundering law the above information is important to properly
support customer's due diligence/check performed by Distributor.
E. Urgency of the request:
Next yearly cycle.
F. Business examples:
G. SEG recommendation:
Consider
x
Timing
- Next yearly cycle: 2014/2015
(the change will be considered for implementation in the yearly
maintenance cycle which starts in 2014 and completes with the
publication of new message versions in the spring of 2015)
X
- At the occasion of the next maintenance of the messages
(the change will be considered for implementation, but does not
justify maintenance of the messages in its own right – will be
pending until more critical change requests are received for the
messages)
- Urgent unscheduled
(the change justifies an urgent implementation outside of the
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normal yearly cycle)
- Other timing:
Comments:
H. Impact analysis:
I.
Implementation
[1]
An optional sequence ‘DataBaseCheck is to be added:
Element
Multiplicity
Definition
Data Type
Know Your
Customer
Database Check
[0.1]
Know Your Customer (KYC) database
information.
New Message
Component
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[2]
New Message Component:
Name
Definition
Element
Indicator
Identification
[3]
DataBaseCheck1
Choice between an amount or number of units or percentage.
Multiplicity Definition
Data Type
[1]
Indicates whether the individual or
YesNoIndicator
organisation is listed in an on-line
global Know Your Customer (KYC)
database.
[0.1]
Identification of the database
Max35Text
In acmt.001 and acmt, the change is to be made to all instances of Account Parties / … / …/
Party / Investor Profile Validation (see diagram above).
In acmt.003, the change is to be made to all instances Modified Account Parties / … / …/ Party
/ Investor Profile Validation.
J.
Proposed timing:
The submitting organisation confirms that it can implement the requested changes in the requested
timing.
Timing
-
As requested
K. Final decision of the SEG(s):
This section is not to be taken care of by the submitting organisation. It will be completed in due time by
the SEG(s) in charge of the related ISO 20022 messages.
Approve
Comments:
Reject
Reason for rejection:
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21 CR0416 (acmt) Add optional Settler to AccountParties (ID 771)
A. Origin of the request:
A.1 Submitter:
NMPG / Italy
A.2 Contact person:
Andrea Milanesio
andmilanesio@gmail.com
+393479837483
B. Related messages:
1.
2.
3.
Account Opening Instruction V04
Account Details Confirmation V04
Account Modification Instruction V04
acmt.001.001.04
acmt.002.001.04
acmt.003.001.04
C. Description of the change request:
Add in AccountParties a new optional section named SETTLOR to be used in case of TRUST.
This new section will be typed by InvestmentAccountOwnershipInformation9
D. Purpose of the change:
In accordance to Italian KYC and Money Laundering law the above information is important to properly
support customer's due diligence/check performed by Distributor.
E. Urgency of the request:
Next yearly cycle.
F. Business examples:
G. SEG recommendation:
Consider
x
Timing
- Next yearly cycle: 2014/2015
(the change will be considered for implementation in the yearly
maintenance cycle which starts in 2014 and completes with the
publication of new message versions in the spring of 2015)
X
- At the occasion of the next maintenance of the messages
(the change will be considered for implementation, but does not
justify maintenance of the messages in its own right – will be
pending until more critical change requests are received for the
messages)
- Urgent unscheduled
(the change justifies an urgent implementation outside of the
normal yearly cycle)
- Other timing:
Comments:
H. Impact analysis:
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From SWIFT Standards:
The concept of ‘settler’ in the context of hedge funds is present in the message. However, having
reviewed definitions, it would seem that ‘settlor’ is the correct term in the context of a trust. Articles on the
internet talk about hedge funds using both ‘settler’ and ‘settlor’. See Appendix 26.1 for results of
searches on the internet..
It has been concluded tentatively that both ‘settler’ and ‘settlor’ need to be supported in the account
management messages.
I.
Implementation
An optional sequence ‘Settlor’ is to be added to the Account Parties sequence:
Element
Multiplicity
Definition
Data Type
Settlor
[0.1]
Entity that creates a trust or contributes
assets to the trust.
Investment Account Ownership
Information 9
The new sequence is to be added in the following locations:
[1]
Account Opening Instruction acmt.001
The new element is to be added to Account Parties
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[2]
Account Details Confirmation acmt.002
The new version of AccountParties9 created as a result of the implementation of the change in
acmt.001 is to be reused as the new datatype for AccountParties in acmt.002
[3]
Account Modification Instruction acmt.003
The new element is to be added to Modified Account Parties just below the element ‘Settler’.
J.
Proposed timing:
The submitting organisation confirms that it can implement the requested changes in the requested
timing.
Timing
-
As requested
K. Final decision of the SEG:
This section is not to be taken care of by the submitting organisation. It will be completed in due time by
the SEG(s) in charge of the related ISO 20022 messages.
Approve
Comments:
Reject
Reason for rejection:
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22 CR0418 (acmt) Add optional Status Of Plan to Savings &
Withdrawal Investment Plan (ID 772)
A. Origin of the request:
A.1 Submitter:
NMPG / Italy
A.2 Contact person:
Andrea Milanesio
andmilanesio@gmail.com
+393479837483
B. Related messages:
1.
2.
3.
Account Opening Instruction V04
Account Details Confirmation V04
Account Modification Instruction V04
acmt.001.001.04
acmt.002.001.04
acmt.003.001.04
C. Description of the change request:
Add in SavingInvestmentPlan and in WithdrawalInvestmentPlan the following new optional element:

StatusOfPlan [0..1] typed by a code list:

ACTV [plan is active]

SSPD [plan is suspended]

CLOS [plan is closed]
D. Purpose of the change:
It’s required by Italian business market for plan modification.
E. Urgency of the request:
Next yearly cycle.
F. Business examples:
G. SEG recommendation:
Consider
x
Timing
- Next yearly cycle: 2014/2015
(the change will be considered for implementation in the yearly
maintenance cycle which starts in 2014 and completes with the
publication of new message versions in the spring of 2015)
X
- At the occasion of the next maintenance of the messages
(the change will be considered for implementation, but does not
justify maintenance of the messages in its own right – will be
pending until more critical change requests are received for the
messages)
- Urgent unscheduled
(the change justifies an urgent implementation outside of the
normal yearly cycle)
- Other timing:
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Comments:
H. Impact analysis:
The code SSPD is not used, but rather SUSP as this has already been defined in ISO 20022.
I.
Implementation
[1]
An optional element is to be added:
Element
Multiplicity
Definition
Data Type
PlanStatus
[0.1]
Status of the savings or withdrawal investment
plan.
Code list (see below)
[2]
New code list (PlanStatus1Code)
Code
ACTV
SUSP
CLOS
[3]
Code Name
Active
Suspended
Closed
Definition
Plan is active.
Plan is suspended
Plan is closed.
In acmt.001 and acmt, the change is to be made to Savings Investment Plan and Withdrawal
Investment Plan.
In acmt.003, the change is to be made to Modified Savings Investment Plan and Modified
Withdrawal Investment Plan.
J.
Proposed timing:
The submitting organisation confirms that it can implement the requested changes in the requested
timing.
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Timing
-
As requested
K. Final decision of the SEG(s):
This section is not to be taken care of by the submitting organisation. It will be completed in due time by
the SEG(s) in charge of the related ISO 20022 messages.
Approve
Comments:
Reject
Reason for rejection:
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23 CR0419 (acmt) Add optional Amount and Units to Savings &
Withdrawal Investment Plan Security Details (ID 773)
A. Origin of the request:
A.1 Submitter:
NMPG / Italy
A.2 Contact person:
Andrea Milanesio
andmilanesio@gmail.com
+393479837483
B. Related messages:
1.
2.
3.
Account Opening Instruction V04
Account Details Confirmation V04
Account Modification Instruction V04
acmt.001.001.04
acmt.002.001.04
acmt.003.001.04
C. Description of the change request:
Add in SavingInvestmentPlan/SecuritiesDetails and in WithdrawalInvestmentPlan/SecuritiesDetails the
following new optional elements as choice of existing Percentage:
a.
Amount (Currency and amount invested in a fund) [1..1]
NEW
b.
Unit (Number of units to be subscribed or withdrawn in a fund) [1..1] NEW
c.
Percentage (Percentage of amount invested in a fund) [1..1]
Sometimes the value of Installment related to a financial instrument can be expressed by an Amount/Unit
instead of Percentage
D. Purpose of the change:
It’s required by Italian business market
E. Urgency of the request:
Next yearly cycle.
F. Business examples:
G. SEG recommendation:
Consider
x
Timing
- Next yearly cycle: 2014/2015
(the change will be considered for implementation in the yearly
maintenance cycle which starts in 2014 and completes with the
publication of new message versions in the spring of 2015)
X
- At the occasion of the next maintenance of the messages
(the change will be considered for implementation, but does not
justify maintenance of the messages in its own right – will be
pending until more critical change requests are received for the
messages)
- Urgent unscheduled
(the change justifies an urgent implementation outside of the
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normal yearly cycle)
- Other timing:
Comments:
H. Impact analysis:
I.
Implementation
[1]
The element Savings Investment Plan / Security Details / Percentage (and Withdrawal
Investment Plan / Security Details / Percentage) is to be replaced with a new element:
Element
Multiplicity
Definition
Data Type
AmountOrUnitOrPercentage
[1.1]
Amount, units or percentage of
financial instrument invested or
withdrawn.
Choice (see
below)
[2]
New choice component
Name
Definition
Element
UnitsOrAmountOrPercentage1Choice
Choice between an amount or number of units or percentage.
Multiplicity Definition
Data Type
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Amount
Unit
Percentage
[3]
[1]
[1]
[1]
Cash amount.
Number of units.
Percentage of cash amount.
Active Currency And Amount
Decimal Number
Percentage Rate
In acmt.001 and acmt, the change is to be made to Savings Investment Plan and Withdrawal
Investment Plan / Security Details / Percentage.
In acmt.003, the change is to be made to Modified Savings Investment Plan and Modified
Withdrawal Investment Plan / Percentage.
J.
Proposed timing:
The submitting organisation confirms that it can implement the requested changes in the requested
timing.
Timing
-
As requested
K. Final decision of the SEG(s):
This section is not to be taken care of by the submitting organisation. It will be completed in due time by
the SEG(s) in charge of the related ISO 20022 messages.
Approve
Comments:
Reject
Reason for rejection:
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24 CR0420 (acmt) Add optional Instalment Manager Role to Savings
& Withdrawal InvestmentPlan/Security Details - (ID 774)
A. Origin of the request:
A.1 Submitter:
NMPG / Italy
A.2 Contact person:
Andrea Milanesio
andmilanesio@gmail.com
+393479837483
A.3 Sponsors:
B. Related messages:
1.
2.
3.
Account Opening Instruction V04
Account Details Confirmation V04
Account Modification Instruction V04
acmt.001.001.04
acmt.002.001.04
acmt.003.001.04
C. Description of the change request:
Add in SavingInvestmentPlan/SecuritiesDetails and in WithdrawalInvestmentPlan/SecuritiesDetails
Add in SavingsInvestmentPlan and WithdrawalInvestmentPlan a new optional element to identify by
which entities the installment is issued/managed :

InstallmentManager [0..1]

Role [1..1] typed by PartyRole2Choice
Code [1..1] typed by InvestmentFundRole6Code
Proprietary [1..1] typed by GenericIdentification47
D. Purpose of the change:
It’s required by Italian business market,
Saving and Withdrawal plan could be issued by Distributor which means distributor is in charge
periodically of the generation of the subscription/redemption orders and sends to the TA or could be the
TA which automatically generate the periodical subscription/redemption orders
E. Urgency of the request:
Next yearly cycle.
F. Business examples:
G. SEG recommendation:
This section is not to be taken care of by the submitter of the change request. It will be completed in
due time by the SEG(s) in charge of the related ISO 20022 messages.
Consider
x
Timing
- Next yearly cycle: 2014/2015
(the change will be considered for implementation in the yearly
maintenance cycle which starts in 2014 and completes with the
publication of new message versions in the spring of 2015)
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ISO 20022 Investment Funds Maintenance 2015
- At the occasion of the next maintenance of the messages
(the change will be considered for implementation, but does not
justify maintenance of the messages in its own right – will be
pending until more critical change requests are received for the
messages)
- Urgent unscheduled
(the change justifies an urgent implementation outside of the
normal yearly cycle)
- Other timing:
Comments:
H. Impact analysis:
I.
Implementation
[1]
An optional element is to be added:
Element
Multiplicity
Definition
Data Type
Instalment
Manager Role
[0.1]
Role or function of the installment manager.
PartyRole2Choice
(already exists)
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[2]
In acmt.001 and acmt, the change is to be made to Savings Investment Plan and Withdrawal
Investment Plan.
In acmt.003, the change is to be made to Modified Savings Investment Plan and Modified
Withdrawal Investment Plan.
J.
Proposed timing:
The submitting organisation confirms that it can implement the requested changes in the requested
timing.
Timing
-
As requested
K. Final decision of the SEG(s):
This section is not to be taken care of by the submitting organisation. It will be completed in due time by
the SEG(s) in charge of the related ISO 20022 messages.
Approve
Comments:
Reject
Reason for rejection:
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25 CR0340 (acmt) Replace XOR Construct with Choice Component
(ID 775)
A. Origin of the request:
A.1 Submitter :
SWIFT Standards
A.2 Contact person:
Janice Chapman
(janice.chapman@swift.com)
+32 2 655 3390
A.3 Sponsor:
B. Related messages:
1.
2.
3.
4.
5.
Account Opening Instruction V04
Account Details Confirmation V04
Account Modification Instruction V04
Get Account Details V02 (*1)
Request For Account Management Status Report V02
acmt.001.001.04
acmt.002.001.04
acmt.003.001.04
acmt.004.001.02
acmt.005.001.02
(*1 – not currently ISO message but will be included in change request to be complete for the suite of messages.)
C. Description of the change request:
Replacement of XOR construction with a choice component for the following structures:
#
Message/s
Location in Message
Elements in the XOR
Comment
1
Acmt.001, 002
New Issue Allocation
DeMinimusApplicable
DeMinimusNotApplicable
2
Acmt.003
Modified Issue Allocation
DeMinimusApplicable
DeMinimusNotApplicable
3
Acmt.001, 002
Service Level Agreement
Method Of Transmission
Extended Method Of
Transmission
+ replace ‘extended’
by Proprietary
4
Acmt.003
Modified Service Level Agreement
Method Of Transmission
Extended Method Of
Transmission
+ replace ‘extended’
by Proprietary
5
Acmt.004
Investment Account Selection
Account Identification
Other Account Selection Data
6
Acmt.004
Investment Account Selection
Individual Owner Identification
Organisation Owner
Identification
7
acmt.005
Request Details
Other Reference
Previous Reference
8
acmt.005
Request Details / Investment Account
Individual Owner Identification
Organisation Owner
Identification
D. Purpose of the change:
Under the new edition ISO 20022:2013, ‘unnamed’ choices (known as XOR choices) are forbidden and
should be replaced by ‘named’ ChoiceComponents. Unnamed choices are difficult to implement as they
require an implementer to 'invent' a name for the choice. Unnamed choices may also be confusing to a
user if a choice has to be made without any context as to why the choice is there.
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Extended to Proprietary is a requirement for ISO 20022.
E. Urgency of the request:
Next yearly maintenance cycle (2014/2015).
This change could have been done as part of the 2013-14 maintenance. Although the sections of the
message concerned were not part of any change request, it would have been more efficient. The XOR
constructs are the last ones remaining in the account management messages and it makes sense to do
these changes as soon as possible as adoption of these messages is now beginning to increase
F. Business examples:
None
G. SEG recommendation:
Consider
x
Timing
- Next yearly cycle: 2014/2015
(the change will be considered for implementation in the yearly
maintenance cycle which starts in 2014 and completes with the
publication of new message versions in the spring of 2015)
X
- At the occasion of the next maintenance of the messages
(the change will be considered for implementation, but does not
justify maintenance of the messages in its own right – will be
pending until more critical change requests are received for the
messages)
- Urgent unscheduled
(the change justifies an urgent implementation outside of the
normal yearly cycle)
- Other timing:
Comments:
H. Impact analysis:
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I.
Implementation
[1] acmt.001 account opening instruction + acmt.002 account details confirmation
The table shows the elements in the XOR and how they are to be replaced:
#
1
New Issue
Allocation
Elements of the XOR
Replace by
Element
Name
Element Definition
Element
M/O
Choice Component Name
& Definition
Elements of the
Choice
Component
Definition of choice
element
Data Type for
choice element
Choice
elemen
t M/O
DeMinimusApplicab
le
DeMinimus
Conditions
applicable when
the investor is
covered by the
"de minimis"
exemption.
0.1
DeMinimus 1 Choice
DeMinimusAp
plicable
Conditions applicable
when the investor is
covered by the "de
minimis" exemption.
DeMinimusNot
Applicable1
1..1
DeMinimusN
otApplicable
Conditions applicable
when the investor is
not covered by the
"de minimis"
exemption.
DeMinimusNot
Applicable1
1..1
Communication
method to be
used.
1..1
Communication
Method N Choice
Code
Method of
transmission
expressed as a code.
Communicatio
n Method1
Code
1..1
Definition: Choice of
formats for the
method of
transmission.
Proprietary
Method of
transmission
expressed as a
proprietary code.
Generic
Identification
13
1..1
DeMinimusNotAppli
cable
2
Service
Level
Agreement
Method Of
Transmission
Method Of
Transmissio
n
Extended Method
Of Transmission
Definition: De
minimus applicability
conditions.
[2] acmt.003 account modification instruction
[1]
Re-use the new version of the NewIssueAllocation1 message component as the data type for element Modified Issue Allocation / Issue
Allocation
[2]
Re-use the new version of the DocumentToSend1 message component as the data type for element Modified Service Level
Agreement / Service Level Agreement
[3] acmt.004 get account details (not currently ISO message but will be included in change request to be complete for the suite of messages)
The table shows the elements in the XOR and how they are to be replaced:
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Elements of the
XOR
#
Investmen1 Account
t Account
Identification
Selection
Replace by
Element
Name
Element
Definition
Elemen
t M/O
Choice Component
Name & Definition
Elements of
the Choice
Component
Definition of choice
element
Data Type for
choice element
Choice
eleme
nt
M/O
Selection
Details
Information used
to identify the
account for which
the information is
modified.
1..1
Account Selection N
Choice
Account
Identification
Unique and
unambiguous
identification for the
account between the
account owner and
the account servicer.
Various investment
account information
used to select a
specific account.
DeMinimusNot
Applicable1
1..1
DeMinimusNot
Applicable1
1..1
Definition: Choice of
account or other
account-related data.
Other Account
Selection Data
Investmen2
t Account
Selection
/ Other
Account
Selection
Data
Individual Owner
Identification
Other
Account
Selection
Data
Owner
Identificatio
n
Identification of
the owner of the
account.
0..1
Organisation Owner
Identification
Owner Identification N
Choice
Individual
Identification of an
individual person.
IndividualPerso
nIdentification
Choice
1..1
Definition: Choice of
individual or
organisation details.
Organisation
Identification of an
organisation.
New version of
PartyIdentificat
ion5 Choice
(there will be a
new version of
this for the BIC
or BEI CR)
1..1
[4] acmt.005 request for account management status report
The table shows the elements in the XOR and how they are to be replaced:
#
Elements of the
XOR
Request 1 Other Reference
Details
Replace by
Element
Name
Element
Definition
Element
M/O
Choice Component
Name & Definition
Elements of
the Choice
Component
Definition of choice
element
Data Type for
choice element
Choice
eleme
nt
M/O
Reference
Reference to a
linked message.
0..1
Reference N Choice
Other
Reference
Reference to a linked
message sent in a
proprietary way or
Max35Text
1..1
Definition: Choice of
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#
Elements of the
XOR
Replace by
Element
Name
Element
Definition
Element
M/O
Choice Component
Name & Definition
Elements of
the Choice
Component
references.
Previous
Reference
Previous Reference
Request 2 Individual Owner
Details /
Identification
Investmen
t Account
Organisation Owner
Identification
Owner
Identificatio
n
ISO20022MCR_InvestmentFundsMaintenance2015_v2
Identification of
the owner of
the account.
0..1
Definition of choice
element
Data Type for
choice element
Choice
eleme
nt
M/O
reference of a
system.
Reference to a linked
message that was
previously sent.
Max35Text
1..1
Owner Identification N
Choice
Individual
Identification of an
individual person.
IndividualPerso
nIdentification
Choice
1..1
Definition: Choice of
individual or
organisation details.
Organisation
Identification of an
organisation.
New version of
PartyIdentificat
ion2 Choice
(there will be a
new version of
this for the BIC
or BEI CR)
1..1
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J.
Proposed timing:
The submitting organisation confirms that it can implement the requested changes in the requested
timing.
Timing
-
As requested
K. Final decision of the SEG(s):
This section is not to be taken care of by the submitting organisation. It will be completed in due time by
the SEG(s) in charge of the related ISO 20022 messages.
Approve
Comments:
Reject
Reason for rejection:
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26 APPENDIX
26.1
Settler verses Settlor
Context
The account management messages already have a party called ‘settler’. The Italian funds
community is requesting the addition of ‘settlor’. Searches have been done on the internet.
Finding 1
In law a settlor is a person who settles property on trust law for the benefit of beneficiaries. In some legal
systems, a settlor is also referred to as a trustor, or occasionally, a grantor or donor.[1] Where the trust
is a testamentary trust, the settlor is usually referred to as the testator. The settlor may also be the
trustee of the trust (where he declares that he holds his own property on trusts) or a third party may be
the trustee (where he transfers the property to the trustee on trusts). In British common law it has been
held, controversially, that where a trustee declares an intention to transfer trust property to a trust of
which he is one of several trustees, that is a valid settlement notwithstanding the property is not vested
in the other trustees
The settlor is the party that creates a trust, usually the donor. The settlor transfers legal title in some
asset to the trustee. The settlor then provides in the trust instrument how that trust property is to be
used for the beneficiaries. In the case of the inter vivos trust, the settlor can also be the beneficiary.
Additionally, The settlor can be the trustee in the case of the self-declared trust
Finding 2
(iii) [A]ny trust that is not covered by clause (ii) and that was not formed for the specific purpose of
acquiring the securities offered, as to which the trustee or other person authorized to make decisions
with respect to the trust, and each settler or other person who has contributed assets to the trust, is
person described in clause (i), (ii), or (iv); or
Finding 3 – seach ‘hedge funds settler’
A qualified purchaser is intended to be a sophisticated investor who doesn’t require the specific
protections provided by the registration process normally required of investment companies.
A qualified purchaser is defined by the 1940 act as: “a natural person or family-owned company owning
at least $5,000,000 of investments (as defined by the SEC); any trust (not specifically formed to acquire
the securities offered) the trustee and each settler of which are qualified purchasers; or any person,
acting for his own account or for the accounts of other qualified purchasers, who in the aggregate owns
and invests at least $25,000,000 in investments.”
Finding 4 - From the MARTIN CURRIE EUROPEAN HEDGE FUND US DOLLAR
PORTFOLIO SUBSCRIPTION BOOKLET
Documentation which may required for a Trust/Foundation/Charity in certain Countries
1.
Confirmation of name, registered & principal business address
2.
Constitutional / Formation document (e.g.: Trust Deed or equivalent)
3.
Nature and purpose
4.
ONE Personal Verification (Note 1) and TWO Address Verification (Note 3) documents for at least
TWO trustees/directors/governors/board members or ONE trustee/director/governor/board
member and ONE authorised signatory (original / certified (Note 2))
5.
ONE Personal Verification (Note 1) and TWO Address Verification (Note 3) documents for any
settler (where appropriate)
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6.
7.
ONE Personal Verification (Note 1) and TWO Address Verification (Note 3) documents for all
beneficiaries who own more than 25% of the capital
Original Authorised Signatory List
Finding 5
Oxford Dictionary
Settler
A person who settles in an area, typically one with no or few previous inhabitants
settlor
A person who makes a settlement, especially of property in establishing a trust.
Cambridge
Settler
settlor
a person who arrives, especially from another country, in a new place in order to live
there and use the land
a person who creates a trust (= legal arrangement to manage the assets of someone
else) and puts money, property, etc. into it: Capital is gifted into the trust by a settlor
via investment bonds to named beneficiaries.
Financial dictionary
Settler
settlor
One who settles or decides something.
a person who settles in a new country or a colony
One that makes a business or financial settlement or a settlement of property.
. (Law) law a person who settles property on someone
settlor - (law) a person who creates a trust by giving real or personal property in trust
to a trustee for the benefit of a beneficiary; a person who gives such property is said
to settle it on the trustee
26.1.1 Settler & Settlor Conclusion
it would seem that ‘settlor’ is the correct term in the context of a trust. Articles on the internet talk
about hedge funds using both ‘settler’ and ‘settlor’.
26.2
Tax NumberIdentification Definitions
In ISO 20022, the definition of a code is simply the definition of the code, not the underlying
meaning of the code. For reference purposes, full definitions are listed here.
ISO 20222
Code
Code Name
Code Definition
Definition from IRS website
ITIN
Individual Taxpayer
Identitication
Number
Tax processing number.
An Individual Taxpayer Identification Number (ITIN) is a
tax processing number issued by the Internal Revenue
Service. It is a nine-digit number that always begins
with the number 9 and has a range of 70-88 in the
fourth and fifth digit. Effective April 12, 2011, the
range was extended to include 900-70-0000 through
999-88-9999, 900-90-0000 through 999-92-9999 and
900-94-0000 through 999-99-9999. IRS issues ITINs to
individuals who are required to have a U.S. taxpayer
identification number but who do not have, and are
not eligible to obtain a Social Security Number (SSN)
from the Social Security Administration (SSA).
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ATIN
Adoption Taxpayer
Identitication
Number
Temporary tax
processing number
(used in the domestic
adoption of a child).
An ATIN is an Adoption Taxpayer Identification Number
issued by the Internal Revenue Service as a temporary
taxpayer identification number for the child in a
domestic adoption where the adopting taxpayers do
not have and/or are unable to obtain the child's Social
Security Number (SSN). The ATIN is to be used by the
adopting taxpayers on their Federal Income Tax return
to identify the child while final domestic adoption is
pending.
GTIN
Tax Identitication
Number
Tax Identitication
Number
A Taxpayer Identification Number (TIN) is an
identification number used by the Internal Revenue
Service (IRS) in the administration of tax laws. It is
issued either by the Social Security Administration
(SSA) or by the IRS. A Social Security number (SSN) is
issued by the SSA whereas all other TINs are issued by
the IRS.
26.3
Indicia
Definitions
[1] distinctive markings
[2] postal markings often impreinged on main or on labels to be affixed to mail
26.4
CR File Names as posted on ISO 20022
1.
CR0340_SWIFT_XOR_IF_acmt_v1.doc
Acmt.001, 002, 003, 004, 005
2.
3.
CR0342_SWIFT_XOR_IF_camt_v1.doc
CR0347_SWIFT_XOR_IF_semt_v2.doc
Camt.042, 043, 045
Semt.006, 007
4.
5.
6.
CR0348_SWIFT_DEF_IF_semt_v1.doc
CR0349_SWIFT_ERROR_IF_semt_v1.doc
CR0352_SWIFT_TrsfrCur_IF_sese_v1.doc
Semt.006, 007
Semt.007
Sese.012, 013, 014
7.
8.
CR0386_SWIFT_Funds_camt_N_Dtld_NewElements_v1.doc
CR0387_SWIFT_Funds_camt_Dtld_NewElements_v1.doc
Camt.040, 041, 044
Camt. 042, 043, 045
9.
10.
11.
CR0388_SWIFT_Funds_semt_Delete_Rule_and_XOR_v1.doc
CR0394_SWIFT_Funds_camt_TradeDateDefinition_v1.doc
CR0395_SWIFT_Funds_camt_OffShore_v1.doc
Semt.001
Camt.040, 042
Camt.040, 041, 042, 043, 044, 045
12.
13.
14.
CR0398_SWIFT_Funds_acmt_TransferReference_v1.doc
CR0416_NMPG_IT_AddAccountParties_v1.doc
CR0417_NMPG_IT_AddCounterPartyReferences_v1.doc
Acmt.001, 002, 003
Acmt.001, 002, 003
Acmt.001, 002, 003
15.
16.
CR0418_NMPG_IT_AddStatusOfPlan_v1.doc
CR0419_NMPG_IT_PercentageChoice_v1.doc
Acmt.001, 002, 003
Acmt.001, 002, 003
17.
18.
19.
CR0420_NMPG_IT_InstallmentManager_v1.doc
CR0421_NMPG_IT_DatabaseCheck_v1.doc
CR0422_NMPG_IT_CountryIssuer_v1.doc
Acmt.001, 002, 003
Acmt.001, 002, 003
acmt.001, 002, 003
20.
21.
CR0423_NMPG_IT_IndividualPersonID_v1.doc
CR0424_NMPG_IT_TaxIdNumber_v1.doc
Acmt.001, 002, 003
Acmt.001, 002, 003
22.
23.
CR0425_NMPG_IT_FATCAFormType_v1.doc
CR0426_NMPG_IT_InvestorFATCAStatus_v1.doc
Acmt.001, 002, 003
Acmt.001, 002, 003
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24.
CR0441_SWIFT_Funds_camt_additional balances_v1.doc
Camt.040, 041, 042, 043, 044, 045
END
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