MAINTENANCE CHANGE REQUEST
FOR THE UPDATE OF ISO 20022 FINANCIAL REPOSITORY ITEMS
VERSION 3 JULY 2014
CONTAINS FEEDBACK FROM THE REVIEW MEETING THAT TOOK PLACE ON 16 JULY 2014
LAST UPDATED: 24 JULY 2014
CONTAINS RESULT OF QUESTION ON WHICH GENERIC ID MC TO USE FOR ‘PROPRIETARY CODE’ (GENERIC
IDENTIFICATION 47)
CONTAINS JEC IMPLEMENTATION NOTES
UPDATED FOR SWIFT’S INTERNAL DB NUMBERS + BLOCK STATUS MULTIPLICITY CORRECTION
UPDATED: 11 SEPTEMBER 2014 – GENERIC IDENTIFICATION 47 IMPLEMENTATION
UPDATED 17 OCTOBER 2015 – ADDITION OF CR 455 FOR CORRECTION OF ERRORS IN
MESSAGES DELIVERED FOR NOVEMBER 2014 AND RESULTS OF IMPLEMENTATION REVIEW
ON 17 OCTOBER 2014
UPDATED 7 NOVEMBER, FOLLOWING FEEDBACK FROM ITALY AND REVISIONS FOR THE
PRODUCTION OF DRAFT2. IN THE MAIN, TRACK CHANGES REFER TO CHANGES MADE AS A
RESULT OF THIS REVIEW
UPDATES 4 & 5 DECEMBER, FOLLOWING FEEDBACK FROM ISO 20022 QUALITY REVIEW
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.
Account Opening Instruction V04
Account Details Confirmation V04
acmt.001.001.04
acmt.002.001.04
9.
10.
Account Modification Instruction V04
Request For Account Management Status Report V02
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.
17.
18.
19.
20.
21.
22.
23.
24.
Portfolio Transfer Instruction V05
Portfolio Transfer Cancellation RequestV05
Portfolio Transfer Confirmation V05
TransferOutInstructionV05
TransferOutCancellationRequestV05
TransferOutConfirmationV05
ReversalOfTransferOutConfirmationV05
TransferInInstructionV05
TransferInCancellationRequestV05
TransferInConfirmationV05
ReversalOfTransferInConfirmationV05
sese.012.001.05
sese.014.001.05
sese.013.001.05
sese.001.001.05
sese.002.001.05
sese.003.001.05
sese.004.001.05
sese.005.001.05
sese.006.001.05
sese.007.001.05
sese.008.001.05
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 or with track
changes in the implementation section of the change request or both.
[4]
If in the implementation review meeting, improvements on the implementation are
proposed, these refinements are recorded with track changes in the implementation section
of the change request and further comments may be added to the ‘Impact Analysis’ section
of the change request.
[5]
During actual implementation in the message models, it may be discovered that fine tuning
is requirement and, therefore, the implemented change in the message may not be
completely in line with the implementation described in this document. If this is the case,
then this document will be updated with comments as appropriate.
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 ......................................................................................................................... 7
2
CR0349 (semt) Change Multiplicity SubAccountDetails (ID 886) ..............................................10
3
CR0348 (semt) Update Definitions Order Date and Reference (ID 887) ...................................13
4
CR0347 (semt) Replace XOR Construct with Choice Component (ID 888) ................................18
5
CR0388 (semt) Delete Rule + Replace XOR with Choice Component (ID 889) ...........................27
6
CR0352 (sese) Add optional element for Transfer Currency (ID 890) .......................................30
7
CR0455 (sese) Commission and Tax Details/Basis Multiplicity Correction (ID 916) (Late CR) ...38
8
CR0386 (camt) Add optional elements for Hedge Share Class functionality (non-detailed
messages) (ID 891) ................................................................................................................42
9
CR0387 (camt) Add optional elements for hedge share class functionality (detailed messages)
(ID 892) ................................................................................................................................58
10
CR0441 (camt) Add optional balances for Hedge Share Class functionality (ID 893) .................83
11
CR0394 (camt) Update Definition Trade Date Time (ID 894) ...................................................91
12
CR0395 (camt) Add optional element for ‘Offshore’ (ID 895) ..................................................93
13
CR0342 (camt) Replace XOR Construct with Choice Component (ID 896) ................................97
14
CR0417 (acmt) Add optional ClientReference & CounterpartyReference (ID 897) + BlockedStatus
multiplicity error correction ................................................................................................ 106
15
CR0398 (acmt) Add optional TransferReference (ID 898) WITHDRAWN ................................ 111
16
CR0422 (acmt) Add optional Country Issuer to AccountParties/Individual Person/Other
Identification (ID 899) ......................................................................................................... 114
17
CR0423 (acmt) Add optional Type codes to AccountParties/Individual Person/Other
Identification (ID 900) ......................................................................................................... 118
18
CR0424 (acmt) Add optional Tax elements to AccountParties/Organisation – Tax Identification
(ID 901) .............................................................................................................................. 122
19
CR0425 (acmt) Add optional FATCA Form Type to Party/Individual and
AccountParties/Organisation (ID 902) ................................................................................. 126
20
CR0426 (acmt) Add optional FATCA Status to AccountParties/Organisation & Party/Individual
person (ID 903) ................................................................................................................... 131
21
CR0421 (acmt) Add optional KYC Database Check to AccountParties/Investor Profile Validation
(ID 904) .............................................................................................................................. 137
22
CR0416 (acmt) Add optional Settlor to AccountParties (ID 905) ............................................ 140
23
CR0418 (acmt) Add optional Status Of Plan to Savings & Withdrawal Investment Plan (ID 906)
143
24
CR0419 (acmt) Add optional Amount and Units to Savings & Withdrawal Investment Plan
Security Details (ID 907) ...................................................................................................... 146
25
CR0420 (acmt) Add optional Instalment Manager Role to Savings & Withdrawal
InvestmentPlan/Security Details - (ID 908)........................................................................... 149
26
CR0340 (acmt) Replace XOR Construct with Choice Component (ID 909) .............................. 153
27
Revisions to Textual Description of Rules as a result of ISO Quality Review .......................... 160
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ISO 20022 Investment Funds Maintenance 2015
28
APPENDIX ........................................................................................................................... 170
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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
STATUS 17
Oct 2014
1.
CR0349
886
semt.007
Change multiplicity SubAccountDetails to
optional
SWIFT
Multiplicity
CLOSED
2.
CRO348
887
semt.006 + 007
Definition update Order DateTime, Order
Reference
SWIFT
Definition
CLOSED
3.
CRO347
888
semt.006 + 007
Replace XOR with choice component
SWIFT (ISO
alignment)
XOR
CLOSED
1.2
Changes to the Securities Message Rejection
#
ISO 20022
RA ID
SWIFT
ID
Message Types
Brief Overview
Submitter
Type of
change
STATUS 17
Oct 2014
4.
CR0388
889
semt.001
Delete rule ‘LinkedMessageReferenceRule’
SWIFT (ISO
alignment)
Rule
CLOSED
Replace XOR with choice component
1.3
Changes to Portfolio Transfer Messages
#
ISO CR
Identifier
SWIFT
ID
Message Types
Brief Overview
Submitter
Type of
change
STATUS 17
Oct 2014
5.
CR0352
890
sese.012, 013 & 014
Add Transfer Currency
SWIFT + Findel
Optional
element
CLOSED
6.
CR0455
916
Sese.001-008
Commission Details and Tax Details / Basis
change multiplicity from 1 to 0.1
SWIFT
Correction
CLOSED
7.
CR0455
918
Sese.001-008
Charge Details / Type and Charge Basis – XOR
replacement
SWIFT
Correction
CLOSED
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ISO 20022 Investment Funds Maintenance 2015
1.4
Changes to the Fund Cash Forecast Messages
#
ISO CR
Identifier
SWIFT
ID
Message Types
Brief Overview
Submitter
Type of
change
STATUS 17
Oct 2014
8.
CR0386
891
camt.040, 041 & 044
(non-detailed)
Add elements for hedge share class
functionality
SWIFT + IMA +
UK cash forecast
MP WG)
Optional
elements
PENDING
DRAFT 2
REVIEW
9.
CR0387
892
camt.042, 043 & 045
(detailed)
Add elements for hedge share class
functionality
SWIFT + IMA +
UK cash forecast
MP WG)
Optional
elements
PENDING
DRAFT 2
REVIEW
Correction of inconsistencies in order of
message elements
10.
CR0441
893
camt. 040, 041 &
044, 042, 043 & 045
Add ‘additional balances’ for hedge share class
functionality
SWIFT + IMA +
UK cash forecast
MP WG)
Optional
elements
CLOSED
11.
CR0394
894
camt.040, 042
Definition update Trade Date Time
SWIFT + IMA +
UK cash forecast
MP WG)
Definition
CLOSED
12.
CR0395
895
camt.040-045
Add element for ‘off-shore’
SWIFT + IMA +
UK cash forecast
MP WG)
Optional
elements
CLOSED
13.
CR0342
896
camt.042, 043 & 045
(detailed)
Replace XOR with choice component
SWIFT (ISO
alignment)
XOR
CLOSED
1.5
Changes to Account Management Messages
#
ISO CR
Identifier
SWIFT
ID
Message Types
Brief Overview
Submitter
Type of
change
STATUS 17
Oct 2014
14.
CR0417
897
acmt.001, 002, 003
Add counterparty reference (and client
reference)
NMPG IF IT
Optional
element
CLOSED
913
acmt.002, 003
Investment Account / Block Status multiplicity
NMPG IF IT
Multiplicity
correction
CLOSED
898
acmt.001, 002, 003
Add Transfer Reference to OrderReference
SWIFT (for
SMPG IF WG)
Optional
element
Withdrawn
15.
CR0398
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ISO 20022 Investment Funds Maintenance 2015
16.
CR0422
899
acmt.001, 002, 003
Individual Person/Other Identification – add
country issuer
NMPG IF IT
Optional
element
CLOSED
17.
CR0423
900
acmt.001, 002, 003
Individual Person/Other Identification – add
type codes
NMPG IF IT
Codes
CLOSED
18.
CR0424
901
acmt.001, 002, 003
Organisation – tax identification
NMPG IF IT
Optional
elements
PENDING
DRAFT 2
REVIEW
19.
CR0425
902
acmt.001, 002, 003
Individual Person & Organisation – add FATCA
form type
NMPG IF IT
Optional
element
CLOSED
20.
CR0426
903
acmt.001, 002, 003
Individual Person & Organisation – add FATCA
status
NMPG IF IT
Optional
elements
CLOSED
21.
CR0421
904
acmt.001, 002, 003
Investor Profile Validation – add KYC Database
Check
NMPG IF IT
Optional
element
CLOSED
22.
CR0416
905
acmt.001, 002, 003
Account Parties - add ‘settlor’
NMPG IF IT
Optional
sequence
PENDING
DRAFT 2
REVIEW
23.
CR0418
906
acmt.001, 002, 003
Savings & withdrawal plan – add status of plan
NMPG IF IT
Optional
element
CLOSED
24.
CR0419
907
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
CLOSED
25.
CR0420
908
acmt.001, 002, 003
Savings & withdrawal plan - add instalment
manager role
NMPG IF IT
Optional
element
PENDING
DRAFT 2
REVIEW
26.
CR0340
909
acmt.001, 002, 003,
004, 005
Replace XOR
SWIFT
XOR
CLOSED
There are 25 change requests impacting twenty-four messages (25 messages, if Get Account Details, a non-ISO 20022 message is
included)
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ISO 20022 Investment Funds Maintenance 2015
2 CR0349 (semt) Change Multiplicity SubAccountDetails (ID 886)
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
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:
No impact, proposed implementation is similar to that described above.
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).
29 October 2014
J.
As a result of the Investment Funds SMPG meeting in Milan, 21-24
October 2014, it was agreed that the new versions of semt.006 and
semt.007 will not be put into the SWIFTNet funds solution for SR2015, but
deferred to a later release.
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:
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ISO 20022 Investment Funds Maintenance 2015
Reject
Reason for rejection:
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ISO 20022 Investment Funds Maintenance 2015
3 CR0348 (semt) Update Definitions Order Date and Reference (ID
887)
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:
No impact, proposed implementation is similar to that described above.
29 October 2014
As a result of the Investment Funds SMPG meeting in Milan, 21-24
October 2014, it was agreed that the new versions of semt.006 and
semt.007 will not be put into the SWIFTNet funds solution for SR2015, but
deferred to a later release.
4 Dec 2014
ISO quality review indicated that some of the existing definitions, that is, those
not introduced as new components/elements introduced by the maintenance
need to be updated for style – see below.
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.
4 Dec 2014
ISO quality review indicated that some of the existing definitions, that is, those not
introduced as new components/elements introduced by the maintenance need to
be updated for style:
Message
Semt.006 +
007
Element
Investment Account Details
(Investment Account 43)
IntermediaryInformation
Current Definition
Party that provides services
relating to financial products
to investors, eg, advice on
products and placement of
orders for the investment
fund.
Revised Definition
Party that provides services
relating to financial products
to investors, for example,
advice on products and
placement of orders for the
investment fund.
Semt.006 +
007
Transaction On Account /
(InvestmentFundTransactionsByFund3)
Securities Form
Transaction On Account /
(InvestmentFundTransactionsByFund3)
Class Type
Form, ie, ownership, of the
security, eg, registered or
bearer.
Features of units offered by a
fund. For example, a unit
may have a specific load
structure, eg, front end or
back end, an income policy,
eg, pay out or accumulate, or
a trailer policy, eg, with or
without. Fund classes are
Form, that is, ownership, of
the security, for example,
registered or bearer.
Features of units offered by a
fund. For example, a unit may
have a specific load structure,
for example, front end or back
end, an income policy, for
example, pay out or
accumulate, or a trailer policy,
for example, with or without.
Semt.006 +
007
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ISO 20022 Investment Funds Maintenance 2015
Message
Element
Current Definition
typically denoted by a single
character, eg, 'Class A', 'Class
2'.
Semt.006 +
007
Transaction On Account /
(InvestmentFundTransactionsByFund3)
Distribution Policy
Semt.006 +
007
Transaction On Account /
(InvestmentFundTransactionsByFund3)
Transaction Details (Investment Fund
Transaction 4) / CreditDebit
Income policy relating to a
class type, ie, if income is
paid out or retained in the
fund.
Direction of the transaction
being reported, ie, securities
are received (credited) or
delivered (debited).
Semt.006 +
007
Transaction On Account /
(InvestmentFundTransactionsByFund3)
Transaction Details (Investment Fund
Transaction 4) / Cum Dividend
Indicator
Semt.006 +
007
Transaction On Account /
(InvestmentFundTransactionsByFund3)
Transaction Details (Investment Fund
Transaction 4) /
PartiallyExecutedIndicator
Semt.006 +
007
Transaction On Account /
(InvestmentFundTransactionsByFund3)
Transaction Details (Investment Fund
Transaction 4) / Price Details / Value
Transaction On Account /
(InvestmentFundTransactionsByFund3)
Balance By Page (Opening Balance 3
Choice) IntermediaryOpeningBalance
Semt.006 +
007
Semt.006 +
007
J.
Transaction On Account /
(InvestmentFundTransactionsByFund3)
Balance By Page (Opening Balance 3
Choice) Closing Balance
Indicates whether the
dividend is included, ie, cumdividend, in the executed
price. When the dividend is
not included, the price will
be ex-dividend.
Indicates whether the order
has been partially executed,
ie, the confirmed quantity
does not match the ordered
quantity for a given financial
instrument.
Value of the price, eg, as a
currency and value.
Revised Definition
Fund classes are typically
denoted by a single character,
for example, 'Class A', 'Class
2'.
Income policy relating to a
class type, that is, if income is
paid out or retained in the
fund.
Direction of the transaction
being reported, that is,
securities are received
(credited) or delivered
(debited).
Indicates whether the
dividend is included, that is,
cum-dividend, in the executed
price. When the dividend is
not included, the price will be
ex-dividend.
Indicates whether the order
has been partially executed,
that is, the confirmed quantity
does not match the ordered
quantity for a given financial
instrument.
Value of the price, that is, as a
currency and value.
Opening balance of this page
only. It must be the
interemdiary closing balance
of the previous page (part of
the same statement).
Opening balance of this page
only. It must be the
intermediary closing balance
of the previous page (part of
the same statement).
Closing Balance of this page
only. Must be the
interemdiary opening
balance of the next page
(part of the same statement).
Closing Balance of this page
only. Must be the
intermediary opening balance
of the next page (part of the
same statement).
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:
Document1
Produced by SWIFT 29 Oct 2014 16
ISO 20022 Investment Funds Maintenance 2015
Reject
Reason for rejection:
Document1
Produced by SWIFT 29 Oct 2014 17
ISO 20022 Investment Funds Maintenance 2015
4 CR0347 (semt) Replace XOR Construct with Choice Component
(ID 888)
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
Document1
Use new versions of message components as created for above.
Produced by SWIFT 29 Oct 2014 18
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)
- 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)
Document1
Produced by SWIFT 29 Oct 2014 19
X
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.
There has been some fine-tuning of the implementation.
The decision on which ‘generic identification’ component to use is still outstanding (appendix 26.5).
This will be raised, by e-mail, as a subsequent item for the investment funds evaluation team.
10 September 2014:
29 October 2014
Document1
Decision made to use Generic Identification 47
As a result of the Investment Funds SMPG meeting in Milan, 21-24
October 2014, it was agreed that the new versions of semt.006 and
semt.007 will not be put into the SWIFTNet funds solution for SR2015, but
deferred to a later release.
Produced by SWIFT 29 Oct 2014 20
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
47. See
appendix 26.5.
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
Event type.
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
corporate action event
type.
Corporate
Action 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
Document1
Produced by SWIFT 29 Oct 2014
21
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.
Document1
Produced by SWIFT 29 Oct 2014
22
Definition of choice
element
Data Type for
choice element
proprietary code.
47. See
appendix 26.5
CorporateActio
nEventType1C
ode
Generic
Identification
47. See
appendix 26.5
Corporate action
event type expressed
as a code.
Corporate action
event expressed as a
proprietary code.
Choice
elemen
t M/O
1.1
1.1
ISO 20022 Investment Funds Maintenance 2015
#
3
Transaction
On Account
/
Transaction
Details /
Price
Details
Document1
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
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
47. See
appendix 26.5
1..1
Extended Type
Produced by SWIFT 29 Oct 2014
23
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 /
Balance By
Page
First Opening
Balance
Opening
Balance
Opening balance
of the financial
instrument in the
statement or of
the intermediary
opening balance
of the page of the
statement.
0.1
Opening Balance N
Choice
First Opening
Balance
Opening balance of
the financial
instrument in the
statement.
FinancialInstru
mentQuantity1
1..1
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
Transaction
On Account
/
Transaction
Details /
Price
Details /
Balance By
Page
Final Closing
Balance
Closing balance
of the financial
instrument in the
statement or of
the intermediary
closing balance of
the page of the
statement.
0.1
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
#
4
5
6
SubAccoun
t Details /
Intermediary
Opening Balance
Intermediary
Closing Balance
Closing
Balance
Definition: Choice of
opening and
intermediary balances
Closing Balance N
Choice
Definition: Choice of
final and intermediary
balances.
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
Document1
Produced by SWIFT 29 Oct 2014
24
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
t
[1]
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.
Document1
Produced by SWIFT 29 Oct 2014
25
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 29 Oct 2014 26
ISO 20022 Investment Funds Maintenance 2015
5 CR0388 (semt) Delete Rule + Replace XOR with Choice
Component (ID 889)
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)
Document1 Produced by SWIFT 29 Oct 2014 27
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:
No impact, proposed implementation is similar to that described above.
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 29 Oct 2014 28
Definition: Reference to a message.
Additional Reference 3
Linked previous reference.
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 29 Oct 2014 29
ISO 20022 Investment Funds Maintenance 2015
6 CR0352 (sese) Add optional element for Transfer Currency (ID
890)
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.
Document1 Produced by SWIFT 29 Oct 2014 30
ISO 20022 Investment Funds Maintenance 2015
[1]
Portfolio Transfer Instruction (sese.012.001.05)
Document1 Produced by SWIFT 29 Oct 2014 31
ISO 20022 Investment Funds Maintenance 2015
[2]
Portfolio Transfer Confirmation (sese.013.001.05)
Document1 Produced by SWIFT 29 Oct 2014 32
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.
Document1 Produced by SWIFT 29 Oct 2014 33
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:
Tomas Bremin, Clearsteam provided this input by e-mail in advance of the review meeting:
[1]
A phrase in the description above (section D) seems wrong: "because some transfer agents
register holdings segregated by currency not by ISIN". Surely any holding must also have an
ISIN?
I think it should say "because some transfer agents register holdings grouped by currency in
addition to using the ISIN (for multi-currency fund shares)"
[2]
If my assumption is right, then the currency should definitely not be used at the
ProductTransfer level, but only at the level of the FinancialInstrumentAssetForTransfer
sequence, to allow that the message may be used for the transfer of more than one holding.
Note also that the investor may (in theory) have multiple holdings in the same ISIN that are
registered with different currencies.
SWIFT Standards comment:
As a result of [2] the new element will be implemented at the level of the ‘Financial Instrument
Asset For Transfer’
Enhancement of definition: it was agreed that in the future this will need to be applied to sese.001008.
4 Dec 2014
I.
ISO quality review indicated that some of the existing definitions, that is, those not
introduced as new components/elements introduced by the maintenance need to be
updated for style - see below.
Implementation:
Document1 Produced by SWIFT 29 Oct 2014 34
ISO 20022 Investment Funds Maintenance 2015
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. Some transfer agents register holdings
grouped by currency in addition to using the ISIN for
multi-currency fund shares. 29 Oct 2014: definition
updated in all three portfolio messages.
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 ?) Input required. With
further analysis, JEC thinks this belongs only at the level of the 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 ??)
IT WAS AGREED IN THE MEETING ON 16 JULY THAT THE ELEMENT IS INSERTED IN THE
Product Transfer / Financial Instrument For Transfer SEQUENCE
4 Dec 2014 ISO quality review indicated that some of the existing definitions, that is, those not
introduced as new components/elements introduced by the maintenance need to be updated for
style:
Message
Element (at root)
sese.013.001.06
PrimaryIndividualInvestor
SecondaryIndividualInvestor
OtherIndividualInvestor
PrimaryCorporateInvestor
SecondaryCorporateInvestor
OtherCorporateInvestor
Message
Element (at root)
Document1 Produced by SWIFT 29 Oct 2014 35
Current Definition
Information identifying the
primary individual investor, eg,
name, address, social security
number and date of birth.
Information identifying the
secondary individual investor, eg,
name, address, social security
number and date of birth.
Information identifying the other
individual investors, eg, name,
address, social security number
and date of birth.
Information identifying the
primary corporate investor, eg,
name and address.
Information identifying the
secondary corporate investor, eg,
name and address.
Information identifying the other
corporate investors, eg, name
and address.
Revised Definition
Information identifying the
primary individual investor, for
example, name, address, social
security number and date of birth.
Information identifying the
secondary individual investor, for
example, name, address, social
security number and date of birth.
Information identifying the other
individual investors, for example,
name, address, social security
number and date of birth.
Information identifying the
primary corporate investor, for
example, name and address.
Information identifying the
secondary corporate investor, for
example, name and address.
Information identifying the other
corporate investors, for example,
name and address.
Current Definition
Revised Definition
ISO 20022 Investment Funds Maintenance 2015
Message
Element (at root)
sese.013.001.06
PrimaryIndividualInvestor
SecondaryIndividualInvestor
OtherIndividualInvestor
PrimaryCorporateInvestor
SecondaryCorporateInvestor
OtherCorporateInvestor
Sese.014
PrimaryIndividualInvestor
Sese.014
SecondaryIndividualInvestor
Sese.014
OtherIndividualInvestor
Sese.014
PrimaryCorporateInvestor
Sese.014
SecondaryCorporateInvestor
Sese.014
OtherCorporateInvestor
J.
Current Definition
Information identifying the
primary individual investor, eg,
name, address, social security
number and date of birth.
Information identifying the
secondary individual investor, eg,
name, address, social security
number and date of birth.
Information identifying the other
individual investors, eg, name,
address, social security number
and date of birth.
Information identifying the
primary corporate investor, eg,
name and address.
Information identifying the
secondary corporate investor, eg,
name and address.
Information identifying the other
corporate investors, eg, name
and address.
Information identifying the
primary individual investor, eg,
name, address, social security
number and date of birth.
Information identifying the
secondary individual investor, eg,
name, address, social security
number and date of birth.
Information identifying the other
individual investors, eg, name,
address, social security number
and date of birth.
Information identifying the
primary corporate investor, eg,
name and address.
Information identifying the
secondary corporate investor, eg,
name and address.
Information identifying the other
corporate investors, eg, name
and address.
Revised Definition
Information identifying the
primary individual investor, for
example, name, address, social
security number and date of birth.
Information identifying the
secondary individual investor, for
example, name, address, social
security number and date of birth.
Information identifying the other
individual investors, for example,
name, address, social security
number and date of birth.
Information identifying the
primary corporate investor, for
example, name and address.
Information identifying the
secondary corporate investor, for
example, name and address.
Information identifying the other
corporate investors, for example,
name and address.
Information identifying the
primary individual investor, for
example, name, address, social
security number and date of birth.
Information identifying the
secondary individual investor, for
example, name, address, social
security number and date of birth.
Information identifying the other
individual investors, for example,
name, address, social security
number and date of birth.
Information identifying the
primary corporate investor, for
example, name and address.
Information identifying the
secondary corporate investor, for
example, name and address.
Information identifying the other
corporate investors, for example,
name and address.
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.
Document1 Produced by SWIFT 29 Oct 2014 36
ISO 20022 Investment Funds Maintenance 2015
Approve
Comments:
Reject
Reason for rejection:
Document1 Produced by SWIFT 29 Oct 2014 37
ISO 20022 Investment Funds Maintenance 2015
7 CR0455 (sese) Commission and Tax Details/Basis Multiplicity
Correction (ID 916) (Late CR)
A. Origin of the request:
A.1 Submitter:
SWIFT Standards on behalf Findel Group
A.2 Contact person:
Janice Chapman, SWIFT Janice.Chapman@swift.com
+ 32 2 655 3390
A.3 Sponsors: None
B. Related messages:
1.
2.
3.
4.
5.
6.
7.
8.
TransferOutInstructionV05
TransferOutCancellationRequestV05
TransferOutConfirmationV05
ReversalOfTransferOutConfirmationV05
TransferInInstructionV05
TransferInCancellationRequestV05
TransferInConfirmationV05
ReversalOfTransferInConfirmationV05
sese.001.001.05
sese.002.001.05
sese.003.001.05
sese.004.001.05
sese.005.001.05
sese.006.001.05
sese.007.001.05
sese.008.001.05
C. Description of the change request:
In the 2013/2014 maintenance cycle, in the Settlement Details / Commission Details sequence the
XOR for Basis [0..1] and Extended Basis [0..1] was changed into the element Basis, typed a choice
component. The multiplicity of Basis was set to [1..1], when it should have been set to [0..1].
Document1 Produced by SWIFT 29 Oct 2014 38
ISO 20022 Investment Funds Maintenance 2015
D. Purpose of the change:
Correction of an error.
E. Urgency of the request:
This is a late change request and, as it is the correction of an error, should be included in the next
yearly maintenance cycle (2014/2015).
F. Business examples:
None
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
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:
Reject
Reason for rejection:
H. Impact analysis:
A similar error is also found on the Tax Details / Basis element and is to be corrected at the same
time.
The ISO RA also recommends the XORs on Type and Charge Basis in the Charge Details sequence
are also eliminated.
4 Dec 2014
I.
ISO quality review indicated that some of the existing rule textual definitions, that is,
those rules not introduced as by the maintenance need to be updated for language
style. See section 27.
Implementation:
[1] The element Settlement Details / Commission Details / Basis is mandatory and is to be changed
to optional:
Document1 Produced by SWIFT 29 Oct 2014 39
ISO 20022 Investment Funds Maintenance 2015
MX
Path
MC
Path
MC
Element
Element
Sese.001
Settlement
Details
Settlement
Details
Settlement
Details
Settlement
Details
Settlement
Details
Settlement
Details
Settlement
Details
Settlement
Details
Settlement
Details
Receive
Information 13
Receive
Information 13
Receive
Information 12
Receive
Information 12
Deliver
Information 13
Deliver
Information 13
Deliver
Information 12
Deliver
Information 12
Receive
Information 13
Commission
Details
Commission
Details
Commission
Details
Commission
Details
Commission
Details
Commission
Details
Commission
Details
Commission
Details
Tax Details
Commission
Details 17
Commission
Details 17
Commission
Details 17
Commission
Details 17
Commission
Details 17
Commission
Details 17
Commission
Details 17
Commission
Details 17
Commission
Details 17
Basis
Sese.002
Settlement
Details
Receive
Information 13
Tax Details
Commission
Details 17
Basis
Sese.003
Settlement
Details
Receive
Information 12
Tax Details
Commission
Details 17
Basis
Sese.004
Settlement
Details
Receive
Information 12
Tax Details
Commission
Details 17
Basis
Sese.005
Settlement
Details
Deliver
Information 13
Tax Details
Commission
Details 17
Basis
Sese.006
Settlement
Details
Deliver
Information 13
Tax Details
Commission
Details 17
Basis
Change from
1.1. to 0.1
Change from
1.1. to 0.1
Change from
1.1. to 0.1
Change from
1.1. to 0.1
Change from
1.1. to 0.1
Change from
1.1. to 0.1
Change from
1.1. to 0.1
Change from
1.1. to 0.1
Change from
1.1. to 0.1
Change from
1.1. to 0.1
Change from
1.1. to 0.1
Change from
1.1. to 0.1
Change from
1.1. to 0.1
Change from
1.1. to 0.1
Sese.007
Settlement
Details
Settlement
Details
Deliver
Information 12
Deliver
Information 12
Tax Details
Commission
Details 17
Commission
Details 17
Basis
Sese.002
Sese.003
Sese.004
Sese.005
Sese.006
Sese.007
Sese.008
Sese.001
Sese.008
Tax Details
Basis
Basis
Basis
Basis
Basis
Basis
Basis
Basis
Basis
Change from
1.1. to 0.1
Change from
1.1. to 0.1
[2] The element Settlement Details / Charge Details / Type with XOR Type and Extended Type is to
be changed to the element Type, typed by a choice component:
Element
Type
Multiplicity
[1.1]
Definition
Type of charge.
Data type
Charge Type N Choice
Data type
ChargeType12Code (as currently used
on the XOR)
GenericIdentification47
Charge Type N Choice:
Element
Code
Multiplicity
[1..1]
Definition
Type of charge expressed as a code.
Proprietary
[1..1]
Type of charge expressed as a
proprietary code.
[3] The element Settlement Details / Charge Details / ChargeBasis with XOR Type and Extended
Type is to be changed to the element ChargeBasis, typed by a choice component:
Element
ChargeType
Multiplicity
[0.1]
Definition
Method used to calculate the charge.
Data type
Charge BasisType N Choice
ChargeBasis Type N Choice:
Element
Multiplicity
Definition
Document1 Produced by SWIFT 29 Oct 2014 40
Data type
ISO 20022 Investment Funds Maintenance 2015
Code
[1..1]
Charge basis expressed as a code.
Proprietary
[1..1]
Charge basis expressed as a
proprietary code.
J.
TaxationBasis2Code (as currently
used on the XOR)
GenericIdentification47
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 29 Oct 2014 41
ISO 20022 Investment Funds Maintenance 2015
8 CR0386 (camt) Add optional elements for Hedge Share Class
functionality (non-detailed messages) (ID 891)
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
Document1 Produced by SWIFT 29 Oct 2014 42
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
Document1 Produced by SWIFT 29 Oct 2014 43
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 29 Oct 2014 44
Element
Total NAV
Previous Total NAV
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 Produced by SWIFT 29 Oct 2014 45
ISO 20022 Investment Funds Maintenance 2015
Diagram – Fund Confirmed Cash Forecast Report (camt.041)
Document1 Produced by SWIFT 29 Oct 2014 46
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 29 Oct 2014 47
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:
No impact, proposed implementation is similar to that described above.
There has been some fine-tuning of the implementation. This is indicated with track changes.
27 October – 31 October 2014
Further feedback from the ‘IMA + UK Fund Cash Forecast Market Practice Working Group’
suggests that the message structure of the revised message (draft 1) does not work in the
expected way. There are three scenarios that must be covered by the message structure:
[1]
[2]
[3]
cash in and cash out reported for a fund (fund company)
cash in and cash out reported for a fund (fund company) with one or more share classes
cash in and cash out reported for one or more share classes
Scenario 1 is not yet covered by the message structure and adaptations are to be made.
In addition, the elements in the ‘main fund details’ and definitions are not correct. At this level,
the main fund is an entity such as a fund management company, not a financial instrument and
changes are needed to reflect this.
Note the requirement to cover scenario 1 is not to be put into the detailed versions of this
message otherwise this would give overlapping functionality with the non-detailed versions of
the message.
Further Feedback from CBL suggests that ‘Main Fund’ is not a good name, and
FundOrSubFund is more appropriate. Numerous definition updates have been carried
out.
I.
Implementation:
[1] Fund Estimated Cash Forecast Report
Diagram – overview of the additions and other changes:
Document1 Produced by SWIFT 29 Oct 2014 48
ISO 20022 Investment Funds Maintenance 2015
The diagram has NOT been updated to show an additional element, Legal Entity
Identifier, in the Main Fund Details sequence just below the Name element nor with the
elements that are required for the use of the message when used to provide cash flow
for the main fund only nor with the change of Main Fund to FundOrSubFundDetails.
[a]
Addition of optional elements
[a1] New sequence at message level
1
Item
FundOrSubFund Details
Definition
Information about the main fund when the
report either specifies cash flow for the fund or
for a share class of the main fund.
M/O
0.1
Type
New message
component
Type
Security Identification 3
Choice Replaced by a
data type for proprietary
identification (ISIN
would never be used to
identify the ‘main fund’.
Max 350 Text
[a2] Elements in new sequence Main Fund Details:
2
Item
Identification
Definition
Unique and unambiguous identifier for the
fund/sub fund assigned under a formal or
proprietary identification scheme.
M/O
0.1
3
Name
Name of the fund/sub fund.
0.1
Document1 Produced by SWIFT 29 Oct 2014 49
ISO 20022 Investment Funds Maintenance 2015
Item
Legal Entity Identifier
4
Definition
Identification of the fund/sub fund with a Legal
Entity Identifier. This is a code allocated to a
party as described in ISO 17442 "Financial
Services - Legal Entity Identifier (LEI)".
Currency of the fund/sub fund.
M/O
0.1
Type
LEIIdentifier
0.1
Date and, if required, the time, at which the
price will be applied.
Previous date and time at which a price was
applied.
Estimated total value of all the holdings, less the
fund's liabilities, of the fund/sub fund..
Previous total value of all the holdings, less the
fund's liabilities, of the fund/sub fund.
Estimated total number of units of the fund/sub
fund.
Previous total number of units of the fund/sub
fund.
Estimated consolidated net cash flow of all share
classes expressed as a percentage of the
previous total NAV for the fund/sub fund.
0.1
0.1
Active Or Historic
Currency
DateAndDateTimeChoic
e
DateAndDateTimeChoic
e
Active Or Historic
Currency And Amount
Active Or Historic
Currency And Amount
Decimal Number
0.1
Decimal Number
0.1
PercentageRate
EstimatedCashInForeca
stDetails
Estimated cash movements into the fund/sub
fund.
0.n
New MC with cash
settlement date and
amount.
EstimatedCashOutFore
castDetails
Estimated cash movements out of the fund/sub
fund.
0.n
New MC with cash
settlement date and
amount.
EstimatedNetCashFore
castDetails
Net cash as a result of the cash-in and cash-out
flows.
0.n
NetCashForecastN
3 rules
If FundOrSubFundDetails is present then either
Identification or Name or Legal Entity Identifier
must be present. Identification, Name and Legal
Identifier may all be present. etc
Must not be present if Estimated Fund Cash
Forecast Details sequence is present. In
FundOrSubFundDetails, must be present if
Estimated Fund Cash Forecast Details sequence
is not present.
Currency
TradeDateTime
5
PreviousTradeDateTim
e
Estimated Total NAV
6
Previous Total NAV
7
Estimated Total Units
Number
Previous Total Units
Number
Estimated Percentage
of Fund Total NAV
8
9
Rules for use of trade
date and previous
trade date
23 July 2014
10
11
[a3]
Item
Price
FX Rate
0.1
0.1
0.1
Identification and Name added as Financial Instrument Details (Financial Instrument 38)
with rules to say that either Identification or Name must be present and both may be
present.29 Oct 2014
Rules added to indicate that Identification, Name or
LegalEntityIdentifier must be present. (message allows for all or none, thus we need rules to
say that at least one must be present.
Elements in Estimated Fund Cash Forecast Details sequence:
Definition
M/O Type
Price per unit of the previous trade date.
0.1
Price MC with type of
price and value.
Foreign exchange rate.
0.1
ForeignExchangeTerms1
9 (already exists,
Document1 Produced by SWIFT 29 Oct 2014 50
ISO 20022 Investment Funds Maintenance 2015
Item
12
Estimated Percentage
of Share Class Total
NAV
Definition
M/O
Estimated net cash flow of the share class
expressed as a percentage of the previous total
NAV for the share class.
0.1
Document1 Produced by SWIFT 29 Oct 2014 51
Type
comprises Unit Currency,
Quoted Currency and
Exchange Rate)
PercentageRate
ISO 20022 Investment Funds Maintenance 2015
29 Oct 2014
29 Oct 2014
[b]
1
2
3
Definition of Estimated Fund Cash Forecast Report sequence:
The definition of the sequence is modified so that it is clearer that this sequence can be used
in the ‘normal way’ or for hedge share classes:
Current Definition
Proposed Definition
Information related to the estimated cash-in
and cash-out flows for a specific trade date
as a result of investment fund transactions,
for example, subscriptions, redemptions or
switch to/from a specified investment fund.
Information related to the estimated cash-in
and cash-out flows for a specific trade date
as a result of transactions in shares in an
investment fund, for example,
subscriptions, redemptions or switches.
Other sequence definitions have been modified in a similar way.
Multiplicity of Estimated Fund Cash Forecast Details changed to [0..n].
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:
Document1 Produced by SWIFT 29 Oct 2014 52
Current
1.1
0.1
0.1
Change to
0.1
0.n
0.n
ISO 20022 Investment Funds Maintenance 2015
The diagram has NOT been updated to show an additional element, Legal Entity
Identifier, in the Main Fund Details sequence just below the Name element nor with the
elements that are required for the use of the message when used to provide cash flow
for the main fund only nor with the change of Main Fund to FundOrSubFundDetails.
[a]
Addition of optional elements
[a1] New sequence at message level
1
Item
FundOrSubFund Details
Definition
Information about the main fund when the
report either specifies cash flow for the fund or
for a share class of the main fund.
M/O
0.1
Type
New message
component
[a2] Elements in new sequence Main Fund Details:
2
Item
Identification
Definition
Unique and unambiguous identifier for the
fund/sub fund assigned under a formal or
proprietary identification scheme.
Document1 Produced by SWIFT 29 Oct 2014 53
M/O
0.1
Type
Security Identification 3
Choice Replaced by a
data type for
proprietary
ISO 20022 Investment Funds Maintenance 2015
Item
Definition
M/O
3
Name
Legal Entity Identifier
0.1
0.1
4
Currency
Name of the fund/sub fund
Identification of the fund/sub fund with a Legal
Entity Identifier. This is a code allocated to a
party as described in ISO 17442 "Financial
Services - Legal Entity Identifier (LEI)".
Currency of the fund/sub fund.
0.1
CashInForecastDetails
Date and, if required, the time, at which the
price has been applied.
Previous date and time at which the price was
applied.
Total value of all the holdings, less the fund's
liabilities, of the fund/sub fund.
Previous total value of all the holdings, less the
fund's liabilities, of the fund/sub fund.
Total number of units of the fund/sub fund.
Previous total number of units of the fund/sub
fund.
Consolidated net cash flow of all share classes
expressed as a percentage of the total NAV for
the fund/sub fund.
Cash movements into the fund/sub fund.
CashOutForecastDetails
Cash movements out of the fund/sub fund.
NetCashForecastDetails
Net cash as a result of the cash-in and cash-out
flows.
3 Rules
If FundOrSubFundDetails is present then either
Identification or Name or Legal Entity Identifier
must be present. Identification, Name and Legal
Identifier may all be present. etc
Must not be present if Fund Cash Forecast
Details sequence is present. In
FundOrSubFundDetails, must be present if EFund
Cash Forecast Details sequence is not present.
TradeDateTime
5
PreviousTradeDateTim
e
Total NAV
6
Previous Total NAV
7
8
Total Units Number
Previous Total Units
Number
Percentage of Fund
Total NAV
9
Rules for use of trade
date and previous
trade date
0.1
0.1
0.1
0.1
0.1
0.1
0.1
Type
identification (ISIN
would never be used to
identify the ‘main fund’.
Max 35 Text
LEIIdentifier
Active Or Historic
Currency
DateAndDateTimeChoic
e
DateAndDateTimeChoic
e
Active Or Historic
Currency And Amount
Active Or Historic
Currency And Amount
Decimal Number
Decimal Number
PercentageRate
New MC
0 with cash
settlement
.
date and
amount.
n
New MC
0 with cash
settlement
.
date and
amount.
n
NetCashForecastN
0
.
n
23 July 2014
Identification and Name added as Financial Instrument Details (Financial Instrument 38)
with rules to say that either Identification or Name must be present and both may be
present.
29 Oct 2014
Rules added to indicate that Identification, Name or LegalEntityIdentifier must be present.
(message allows for all or none, thus we need rules to say that at least one must be present.
10
[a3]
Price
Elements in Estimated Fund Cash Forecast Details sequence:
Price per unit of the trade date.
0.1
ActiveCurrencyAnd13De
cimalAmount
Document1 Produced by SWIFT 29 Oct 2014 54
ISO 20022 Investment Funds Maintenance 2015
11
FX Rate
Foreign exchange rate.
0.1
12
Percentage of Share
Class Total NAV
Net cash flow of the share class expressed as a
percentage of the total NAV for the share class
0.1
29 Oct 2014
29 Oct 2014
[b]
1
2
ForeignExchangeTerms1
9 (already exists,
comprises Unit Currency,
Quoted Currency and
Exchange Rate)
PercentageRate
Definition of Fund Cash Forecast Report sequence:
The definition of the sequence is modified so that it is clearer that this sequence can be used
in the ‘normal way’ or for hedge share classes:
Current Definition
Proposed Definition
Information related to the cash-in and cashout flows for a specific trade date as a result
of investment fund transactions, for
example, subscriptions, redemptions or
switch to/from a specified investment fund.
Information related to the cash-in and cashout flows for a specific trade date as a result
of transactions in shares in an investment
fund, for example, subscriptions,
redemptions or switches.
Other sequence definitions have been modified in a similar way.
Multiplicity of Estimated Fund Cash Forecast Details changed to [0..n].
Multiplicity Changes:
Sequence
Fund Cash Forecast Details
Fund Cash Forecast Details
Document1 Produced by SWIFT 29 Oct 2014 55
Element
Total NAV
Previous Total NAV
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:
The diagram has NOT been updated to show an additional element, Legal Entity Identifier, in the
Main Fund Details sequence just below the Name element nor with the elements that are
required for the use of the message when used to provide cash flow for the main fund only nor
with the change of Main Fund to FundOrSubFundDetails.
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.
Document1 Produced by SWIFT 29 Oct 2014 56
ISO 20022 Investment Funds Maintenance 2015
Approve
Comments:
Reject
Reason for rejection:
Document1 Produced by SWIFT 29 Oct 2014 57
ISO 20022 Investment Funds Maintenance 2015
9 CR0387 (camt) Add optional elements for hedge share class
functionality (detailed messages) (ID 892)
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
0.1
Elements in Estimated Fund Cash Forecast Details sequence:
Definition
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M/O
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
Definition
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M/O
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.
M/O
0.1
Type
ActiveCurrencyCode
M/O
0.1
Type
ActiveCurrencyCode
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
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
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Element
Party
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
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ISO 20022 Investment Funds Maintenance 2015
New elements and changes in Estimated Fund Cash Forecast Details sequence:
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ISO 20022 Investment Funds Maintenance 2015
Diagrams – Fund Detailed Confirmed Cash Forecast Report (camt.043)
New elements at message level
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ISO 20022 Investment Funds Maintenance 2015
New elements and changes in Estimated Fund Cash Forecast Details sequence:
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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.
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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:
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ISO 20022 Investment Funds Maintenance 2015
[B]
There are inconsistences between the order of sequences between the FundDetailedConfirmedCashForecastReportV03 and
FundDetailedEstimatedCashForecastReportV03 messages should be corrected:
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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:
No impact, proposed implementation is similar to that described above.
There has been some fine-tuning of the implementation. This is indicated with track changes.
The changes made to the Breakdown By Party sequence (when applicable) are also to be applied to
Breakdown By Currency, Breakdown By Country and Breakdown By User Defined Parameter. This is
in fact already document in CR 441.
Further Feedback from CBL suggests that ‘Main Fund’ is not a good name, and
FundOrSubFund is more appropriate. Numerous definition updates have been carried out.
4 Dec 2014 ISO quality review indicated that some of the existing definitions, that is, those not
introduced as new components/elements introduced by the maintenance need to be
updated for style – see below.
I.
Implementation:
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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
The diagram has NOT been updated to show an additional element, Legal Entity
Identifier, in the Main Fund Details sequence just below the Name element nor with the
change of Main Fund to FundOrSubFundDetails.
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ISO 20022 Investment Funds Maintenance 2015
Diagram – overview of new elements and changes in Estimated Fund Cash Forecast Details
sequence:
SWIFT Standards comment: in an estimated report, the Previous Trade date should always be
present? But for safety should make it optional ….
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ISO 20022 Investment Funds Maintenance 2015
[a] Addition of optional elements
[a1]
1
New sequence at message level
Item
FundOrSubFund Details
[a2]
Definition
Information about the fund/sub fund when the
report either specifies cash flow for the fund/sub
fund or for a share class of the fund/sub fund.
M/O
0.1
Elements in new sequence Main Fund Details:
Item
Identification
Definition
Unique and unambiguous identifier for the
fund/sub fund, assigned under a formal or
proprietary identification scheme.
M/O
0.1
3
Name
Legal Entity Identifier
0.1
0.1
4
Currency
Name of the fund/sub fund,
Identification of the fund/sub fund with a Legal
Entity Identifier. This is a code allocated to a
party as described in ISO 17442 "Financial
Services - Legal Entity Identifier (LEI)".
Currency of the fund/sub fund.
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/sub fund..
Previous total value of all the holdings, less the
fund's liabilities, of the fund/sub fund.
Estimated total number of units of the fund/sub
fund.
Previous total number of units of the fund/sub
fund.
Estimated consolidated net cash flow expressed
as a percentage of the previous total NAV for
the fund/sub fund
If FundOrSubFundDetails is present then either
Identification or Name or Legal Entity Identifier
must be present. Identification, Name and Legal
Entity Identifier may all be present.
2
8
9
MainFundIDName1
Rule
23 July 2014
[a3]
10
Item
Price
Type
New message
component
0.1
Type
Security Identification 3
Choice Replaced by a
data type for proprietary
identification (ISIN
would never be used to
identify the ‘main fund’.
Max 35 Text
LEIIdentifier
0.1
Active Or Historic
Currency
Active Or Historic
Currency And Amount
Active Or Historic
Currency And Amount
Decimal Number
0.1
Decimal Number
0.1
PercentageRate
0.1
Identification and Name added as Financial Instrument Details (Financial Instrument 38)
with rules to say that either Identification or Name must be present and both may be
present.29 Oct 2014
Rules added to indicate that Identification, Name or
LegalEntityIdentifier must be present. (message allows for all or none, thus we need rules to
say that at least one must be present.
Elements in Estimated Fund Cash Forecast Details sequence:
Definition
Price per unit of the previous trade date.
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M/O
0.1
Type
Price MC with type of
price and value.
ISO 20022 Investment Funds Maintenance 2015
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
29 Oct 2014
ForeignExchangeTerms1
9 (already exists,
comprises Unit Currency,
Quoted Currency and
Exchange Rate)
PercentageRate
Definition of Estimated Fund Cash Forecast Report sequence:
The definition of the sequence is modified so that it is clearer that this sequence can be used
in the ‘normal way’ or for hedge share classes:
Current Definition
Proposed Definition
Information related to the estimated cash-in
and cash-out flows for a specific trade date
as a result of investment fund transactions,
for example, subscriptions, redemptions or
switches to/from a specified investment
fund. The information provided is sorted by
pre-defined criteria such as country,
institution, currency or user defined criteria.
Information related to the estimated cash-in
and cash-out flows for a specific trade date
as a result of transactions in shares in an
investment fund, for example, subscriptions,
redemptions or switches. The information
provided is sorted by pre-defined criteria
such as country, institution, currency or user
defined criteria.
Other sequence definitions have been modified in a similar way.
[a4]
13
Elements in Estimated Fund Cash Forecast Details / Breakdown By Party / Cash In
Forecast / Cash In Breakdown Details
Item
Settlement Currency
23 July 2014
[a5]
14
Definition
Settlement currency for the transaction.
M/O
0.1
Type
ActiveCurrencyCode
Also done for Breakdown By Country, Breakdown by Currency and Breakdown By User
Define Parameter.
Elements in Estimated 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
23 July 2014
Also done for Breakdown By Country, Breakdown by Currency and Breakdown By User
Define Parameter.
29 Oct 2014
Scope and Usage of fund cash forecast messages:
Additional information has been included in the Scope & Usage section of the message so
that it is clear the message can be used in the ‘normal’ way or for hedge share classes:
Scope
A report provider, such as a transfer agent, sends the FundEstimatedCashForecastReport
message to the report user, such as an investment manager or pricing agent, to report the
estimated cash incomings and outgoings of one or more share classes of an investment fund
on one or more trade dates.
The cash movements may result from, for example, redemption, subscription, switch
transactions or reinvestment of dividends.
Usage
The FundEstimatedCashForecastReport is used to report estimated cash movements, that is,
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ISO 20022 Investment Funds Maintenance 2015
it is sent prior to the cut-off time and/or the price valuation of the fund.
The FundEstimatedCashForecastReport contains incoming and outgoing cash flows that are
estimated, that is, the price has not been applied. If the price is definitive, then the
FundConfirmedCashForecastReport message must be used.
The message structure allows for the following uses:
To provide cash in and cash out amounts for a fund (MainFundDetails sequence)
To provide cash in and cash out amounts for a fund with one more share classes
(MainFundDetails sequence and one or more MainFundDetails /
EstimatedFundCashForecastDetails sequences)
To provide cash in and cash out amounts for one or more share classes (one or
more EstimatedFundCashForecastDetails sequences)
This message allows the report provider to report estimated cash movements in or out of a
fund, but does not allow the Sender to categorise these movements, for example by
country, or to give details of the underlying orders, commission or charges. If the report
provider wishes to give detailed information related to estimated cash movements, then the
FundDetailedEstimatedCashForecastReport message must be used.
[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 and
BreakdownByUserDefinedParameter /
Party
24 July 2014
Element
Party
Change
Change type to party and account.
Component with optional account, owner and servicer. Rule included to indicate party or
account must be present and both may be present.
[2] Fund Detailed Confirmed Cash Forecast Report (camt.043)
Diagram – overview of new elements at message level
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ISO 20022 Investment Funds Maintenance 2015
The diagram has NOT been updated to show an additional element, Legal Entity
Identifier, in the Main Fund Details sequence just below the Name element nor with the
change of Main Fund to FundOrSubFundDetails.
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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
FundOrSubFund Details
Information about the fund/sub fund when the
report either specifies cash flow for the
fund/sub fund or for a share class of the
fund/sub fund.
[a2]
Elements in new sequence Main Fund Details:
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Type M
/
O
New message
0
component
.
1
ISO 20022 Investment Funds Maintenance 2015
Item
Identification
Definition
Identification of the financial instrument.
M/O
0.1
3
Name
Legal Entity Identifier
0.1
0.1
4
Currency
Name of the fund/sub fund.
Identification of the fund/sub fund with a
Legal Entity Identifier. This is a code
allocated to a party as described in ISO
17442 "Financial Services - Legal Entity
Identifier (LEI)".
Currency of the fund/sub fund.
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/sub fund.
Previous total value of all the holdings, less
the fund's liabilities, of the fund/sub fund.
Total number of units of the fund/sub fund.
Previous total number of units of the
fund/sub fund.
Consolidated net cash flow expressed as a
percentage of the total NAV for the
fund/sub fund.
If FundOrSubFundDetails is present then
either Identification or Name or Legal Entity
Identifier must be present. Identification,
Name and Legal Entity Identifier may all be
present.
2
9
MainFundIDName1 Rule
29 Oct 2014
[a3]
0.1
Type
Security Identification 3
Choice Replaced by a
data type for proprietary
identification (ISIN would
never be used to identify
the ‘main fund’.
Max 35 Text
LEIIdentifier
0.1
0.1
Active Or Historic
Currency
Active Or Historic
Currency And Amount
Active Or Historic
Currency And Amount
Decimal Number
Decimal Number
0.1
PercentageRate
0.1
Rules added to indicate that Identification, Name or LegalEntityIdentifier must be present.
(message allows for all or none, thus we need rules to say that at least one must be present.
Elements in Fund Cash Forecast Details sequence:
10
Item
Price
Definition
Price per unit of the trade date.
M/O
0.1
11
FX Rate
Foreign exchange rate.
0.1
12
Type
ActiveCurrencyAnd13Deci
malAmount
ForeignExchangeTerms19
(already exists, comprises
Unit Currency, Quoted
Currency and Exchange
Rate)
PercentageRate
Percentage of Share
Net cash flow expressed as a percentage of the 0.1
Class Total NAV
total NAV for the share class
29 Oct 2014
Definition of Fund Cash Forecast Report sequence:
The definition of the sequence is modified so that it is clearer that this sequence can be used
in the ‘normal way’ or for hedge share classes:
Current Definition
Proposed Definition
Information related to the cash-in and cashout flows for a specific trade date as a result
of investment fund transactions, for
Information related to the cash-in and cashout flows for a specific trade date as a result
of transactions in shares in an investment
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ISO 20022 Investment Funds Maintenance 2015
example, subscriptions, redemptions or
switches to/from a specified investment
fund. The information provided is sorted by
pre-defined criteria such as country,
institution, currency or user defined criteria.
fund, for example, subscriptions,
redemptions or switches. The information
provided is sorted by pre-defined criteria
such as country, institution, currency or user
defined criteria.
Other sequence definitions have been modified in a similar way.
13
[a4]
Elements in Fund Cash Forecast Details / Breakdown By Party /
Cash In Forecast / Cash In Breakdown Details
Item
Definition
M/O Type
Settlement Currency
Settlement currency for the transaction.
0.1
ActiveCurrencyCode
23 July 2014
[a5]
13
Also done for Breakdown By Country, Breakdown by Currency and Breakdown By User
Define Parameter.
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
24 July 2014
Also done for Breakdown By Country, Breakdown by Currency and Breakdown By User
Define Parameter.
29 Oct 2014
Definition of Fund Cash Forecast Report.
The definition of the sequence is modified so that it is clearer that this sequence can be used
in the ‘normal way’ or for hedge share classes:
Current Definition
Proposed Definition
Information related to the cash-in and cashout flows for a specific trade date as a result
of investment fund transactions, for
example, subscriptions, redemptions or
switches to/from a specified investment
fund. The information provided is sorted by
pre-defined criteria such as country,
institution, currency or user defined criteria.
Information related to the cash-in and cashout flows for a specific trade date as a result
of transactions in shares in an investment
fund, for example, subscriptions,
redemptions or switches. The information
provided is sorted by pre-defined criteria
such as country, institution, currency or user
defined criteria.
Other sequence definitions have been modified in a similar way.
[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:
1
Sequence
Fund Cash Forecast Details / Breakdown
By Party and
BreakdownByUserDefinedParameter /
Party
24 July 2014
Element
Party
Change
Change type to party and
account.
Component with optional account, owner and servicer. Rule included to indicate party or
account must be present and both may be present.
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[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.
The diagram has NOT been updated to show an additional element, Legal Entity Identifier, in the
Main Fund Details sequence just below the Name element nor with the change of Main Fund to
FundOrSubFundDetails.
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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.
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24 July 2014
DONE. However, order of elements implemented for detailed message is Breakdown By Party, Breakdown By Country, Breakdown By
Currency and Breakdown By User Defined Parameter, not as that shown in the diagram above. [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.):
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24 July 2014
DONE. However, order of elements implemented for detailed message is Breakdown By Party, Breakdown By Country, Breakdown By
Currency and Breakdown By User Defined Parameter, not as that shown in the diagram above.
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4 Dec 2014
Message
Camt.045
Camt.043
Camt.042
ISO quality review indicated that some of the existing definitions, that is, those not
introduced as new components/elements introduced by the maintenance need to be
updated for style:
Element
These messages have
‘Commission Details’
element.
Current Definition
Information related to the
commission applied to an order,
for example, back-end or frontend commission.
Revised Definition
Information related to the
commission applied to an order,
for example, back-end or frontend commission.
Message Component:
FundCashOutBreakdown3
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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10 CR0441 (camt) Add optional balances for Hedge Share Class
functionality (ID 893)
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
Additional balances for cash amounts and number
of units.
Data Type
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
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[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.
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[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
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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)
- 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:
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H. Impact analysis:
No impact, proposed implementation is similar to that described above.
I.
[1]
#
[2]
#
Implementation:
Addition of optional sequence - estimated reports
Sequence Name
Definition
Data Type
Additional Balance
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 Balance
Definition
Additional balances for cash amounts and number
of units.
Data Type
New message
component (see
below)
24 July 2014 During implementation it was decided that the non-detailed messages should continue to have the
same re-usable components for EstimatedCashInForecastDetails and CashInForecastDetails and
EstimatedCashOutForecastDetails and CashOutForecastDetails. And likewise, in the detailed
versions of the messages, they should continue to have the same re-usable message components for
CashInForecast and CashOutForecast. This means that the two different definitions for the
Additional Balance sequence for the estimated and confirmed reports are not used. But rather a
generic definition that will work for both:
Sequence Name
Definition
Additional Balance
Additional balances for cash amounts and number of units.
In an estimated report, 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.
[3]
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
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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.
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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)
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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]
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.
Further implementation notes:
During implementation, in the definitions of elements, minor typographical problems such as missing full
stops were corrected. Some definitions use abbreviations such as ‘eg’ and these have been replaced by
‘for example’.
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
11 CR0394 (camt) Update Definition Trade Date Time (ID 894)
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.
D. 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.
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)
- 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:
No impact, proposed implementation is similar to that described above.
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:
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ISO 20022 Investment Funds Maintenance 2015
12 CR0395 (camt) Add optional element for ‘Offshore’ (ID 895)
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:
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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 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)
- 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
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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:
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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:
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ISO 20022 Investment Funds Maintenance 2015
13 CR0342 (camt) Replace XOR Construct with Choice Component
(ID 896)
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)
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)
7
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) /
9
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Investment Fund
Transaction In Type
Extended Investment Fund
Transaction In Type
Original Order Quantity Type
Extended Original Order
Quantity Type
Type
Extended Type
Note
+ replace
‘extended’ by
Proprietary
+ replace
‘extended’ by
Proprietary
Amount
Rate
Type
Extended Type
+ replace
‘extended’ by
Proprietary
Amount
Rate
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
+ replace
‘extended’ by
Proprietary
+ replace
‘extended’ by
Proprietary
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:
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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:
There has been some fine-tuning of the implementation. .
The decision on which ‘generic identification’ component to use is still outstanding (appendix 26.5). This
will be raised, by e-mail, as a subsequent item for the investment funds evaluation team.
10 September 2014:
Decision made to use Generic Identification 47
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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 47. See
appendix
26.5
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 47. See
appendix
26.5
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 charge.
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 47. See
appendix
26.5
1..1
Cash In
Amount
AmountOrRate N
Amount
Amount of
ActiveCurren
1..1
#
1
2
3
4
Document1
Extended
Investment Fund
Transaction In
Type
Original Order
Quantity Type
Extended Original
Order Quantity
Type
Type
Extended Type
ChargeApplie
Change amount or
1..1
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1..1
1..1
ISO 20022 Investment Funds Maintenance 2015
#
Forecast /
Cash In
Breakdown
Details /
Charge
Details
5
6
Replace by
Element Name
Element Definition
charge rate applied.
Rate
d
AmountOrRat
e3Choice
Commission
Type
AmountOrRat
e3Choice
Type of commission.
CommissionA
pplied
AmountOrRat
e3Choice
Commission amount
or commission rate
applied.
Elements of the
XOR
Replace by
Element
Name
Element Definition
Investment Fund
Transaction Out
Type
Investment
Fund
Transaction In
Type
Type of transaction
that resulted in the
cash-out movement,
for example,
redemption, switchout.
Cash In
Forecast /
Cash In
Breakdown
Details /
Commission
Details
Type
Cash In
Forecast /
Cash In
Breakdown
Details /
Commission
Details
Amount
#
1
Elements of the
XOR
Cash Out
Forecast /
Cash Out
Breakdown
Details
Document1
Extended Type
Rate
Extended
Investment Fund
Elemen
t M/O
Choice Component
Name & Definition
Elements of the
Choice
Component
Choice
Definition of
choice element
Data Type for
choice
element
money.
cyAnd13Deci
malAmount
PercentageR
ate
Choice
elemen
t M/O
Definition: Choice
between an amount
or rate.
Rate
Rate used to
calculate the
amount.
Commission Type N
Choice
Definition: Choice of
formats for the
commission type. .
Code
Commission
type expressed
as a code.
Commission
type expressed
as a proprietary
code.
Commission
Type6Code
1..1
Generic
Identificatio
n 47. See
appendix
26.5
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
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
1.1
Investment Fund
Transaction Out Type
N Choice
Code
Transaction type
expressed as a
code.
1..1
Definition: Choice of
formats for the
Proprietary
Transaction type
expressed as a
InvestmentF
undTransacti
onOutType1
Code
Generic
Identificatio
1..1
1..1
Proprietary
Produced by SWIFT 29 Oct 2014 101
1..1
1..1
1..1
ISO 20022 Investment Funds Maintenance 2015
Elements of the
XOR
#
Replace by
Element
Name
Element Definition
Eleme
nt
M/O
Transaction Out
Type
Choice Component
Name & Definition
Elements of
the Choice
Component
transaction-out type.
Cash Out
Forecast /
Cash Out
Breakdown
Details
Original Order
Quantity Type
Extended Original
Order Quantity
Type
Original Order
Quantity Type
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
RE-USE MESSAGE COMPONENT FROM ABOVE (new version of Charge 16)
Cash Out
Forecast /
Cash Out
Breakdown
Details /
Commissio
Type
Extended Type
2
7
Document1
Specifies how the
original order was
expressed that
resulted in the cashout movement, that
is cash or units.
1..1
Definition of
choice element
Data Type
for choice
element
proprietary code.
n 47. See
appendix
26.5
RE-USE CHOICE COMPONENT FROM ABOVE
(Quantity Type N Choice)
Rate
RE-USE MESSAGE COMPONENT FROM ABOVE (new version of Commission 9)
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Choice
eleme
nt
M/O
ISO 20022 Investment Funds Maintenance 2015
#
Elements of the
XOR
Replace by
Element
Name
Amount
Rate
RE-USE MESSAGE COMPONENT FROM ABOVE (new version of Commission 9)
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
n Details
8
[2]
Cash Out
Forecast /
Cash Out
Breakdown
Details /
Commissio
n Details
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 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 Currency1 message component for the element Breakdown By Currency
Fund Detailed Confirmed Cash Forecast Report / Fund Cash Forecast Details / Breakdown ByUserDefinedParameter /
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[1]
[9]
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]
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Re-use the new version of the Fund Cash Forecast 4 message component for the element Fund Cash Forecast Details
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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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14 CR0417 (acmt) Add optional ClientReference &
CounterpartyReference (ID 897) + BlockedStatus multiplicity
error correction
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)
- 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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ISO 20022 Investment Funds Maintenance 2015
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.
An e-mail discussion took place prior to the review meeting to discuss where in the MX this
should be implemented, verses that proposed for CR 398. Conclusion is that change request
398 is redundant:
Andrea Milanesio:
Scope of CR 417 is linking Account messages with Transfer
messages using Counterparty Reference (TI) and maybe also Client
Reference (TO), therefore same ‘TI-TO’ references for multiple ISIN.
Scope of CR 398 is linking Account messages with Transfer messages
using Transfer reference therefore different Transfer reference for
each ISIN.
In my opinion CR 417 covers the requirement because all ISINs within a
Transfer message should be linked to Account using ONE single
reference (TO/TI).
Decisions on questions made have been recorded below with track changes.
4 Dec 2014
I.
ISO quality review indicated that some of the existing definitions, that is,
those not introduced as new components/elements introduced by the
maintenance need to be updated for style:
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:
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A Transfer Reference element will not be added to the message. The change request (CR039)
is withdrawn.
[2]
Account Confirmation Details acmt.002
The change request suggests the new element/s are added in the Confirmation Details
sequence:
A Transfer Reference element will not be added to the message. The change request (CR039) is
withdrawn.[3]
Account Modification Instruction acmt.003
The change request suggests the new element/s are added in the Instruction Details sequence:
A Transfer Reference element will not be added to the message. The change request (CR039)
is withdrawn.
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However, an alternative to this is to insert the new reference in the Order Reference sequence:
Client Reference and Counterparty Reference are to be added to Instruction Details in
acmt.001 & 003 and to Confirmation Details in acmt.002.
See also change request 0388 ‘Transfer Reference’ – the location of these new references
in the message should be looked at together.
New change (SWIFT ID 913) – acmt.002 & acmt.003
An e-mail was received from Italy indicating that for the change that was previously done
in 2013, the addition of Blocked Status (In Investment Account) , an error has been
noticed in that it was added correctly as [0..*] in acmt.001, but in acmt.002 and acmt.003,
the multiplicity is [0.1]. The error, that is the change of multiplicity to 0.*, has been
included in this CR and will be corrected as part of the 2014-2015 maintenance cycle.
4 Dec 2014
ISO quality review indicated that some of the existing definitions, that is, those not
introduced as new components/elements introduced by the maintenance need to be
updated for style:
Message
Element
Investment Account
(Investment Account 46) /
Status
Acmt.002
J.
Current Definition
Specifies the current state of an
account, eg, enabled or deleted.
Revised Definition
Specifies the current state of an
account, for example, enabled or
deleted.
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.
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Approve
Comments:
Reject
Reason for rejection:
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15 CR0398 (acmt) Add optional TransferReference (ID 898)
WITHDRAWN
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 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.
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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:
Change request is withdrawn.
H. Impact analysis:
Since the submission of this change request and the reviewing CR 0417 ‘add counterparty
reference’ and seeing the solution proposed
[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.
See CR 417 section H. As a result, this CR (CR 0398) is withdrawn.
I.
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):
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:
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Reject
Reason for rejection:
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16 CR0422 (acmt) Add optional Country Issuer to
AccountParties/Individual Person/Other Identification (ID 899)
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)
- 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:
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ISO 20022 Investment Funds Maintenance 2015
H. Impact analysis:
It was discovered that in the sequence Other Identification, the definitions of elements Type/Code
and Type/Proprietary were not quite right and are to be updated.
There has been some fine-tuning of the implementation.
4 Dec 2014
I.
ISO quality review indicated that some of the existing definitions, that is, those not
introduced as new components/elements introduced by the maintenance need to be
updated for style – see below.
Implementation
An optional element ‘CountryIssuer’ is to be added:
Element
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Multiplicity
Definition
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Data Type
ISO 20022 Investment Funds Maintenance 2015
IssuerCountry
[0.1]
Country that issued the identification
document.
CountryCode
In acmt.001 and acmt 002, 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.
4 Dec 2014
Message
Acmt.001
ISO quality review indicated that some of the existing definitions, that is, those not
introduced as new components/elements introduced by the maintenance need to
be updated for style:
Element
Account Parties (Account
Parties 10) / Administrator
Current Definition
Entity that has been appointed
by a legal authorithy to act on
behalf of a person or
organisation that has gone
bankrupt.
Organised structure that is set up
for a particular purpose, eg, a
business, government body,
department, charity, or financial
institution.
Unique and unambiguous
identifier for an organisation that
is allocated by an institution, eg,
Dun & Bradstreet Identification.
Acmt.001 + 002
Account Parties / … / Party /
Organisation
Acmt.001 + 002
Account Parties / … / Party /
Organisation (Organisation
16) / Identification
Acmt.001 + 002
Account Parties / … / Party /
Organisation (Organisation
16) / Purpose
Purpose of the organisation, eg,
charity.
Acmt.001 + 002
Account Parties / … / Party /
Individual Person (Individual
Person 23) / NameSuffix
Additional information about a
person that follows a person's
name, eg, qualification such as
Doctor of Philosophy (PhD).
Acmt.001 + 002
Account Parties / … / Party /
Individual Person (Individual
Person 23) / Country And
Residential Status
Country and residential status of
an individual, for example, nonpernament resident.
Acmt.001
Account Parties (Account
Parties 11) / Administrator
Acmt.003
Modified Account Parties / …
/ Party (Party 24 Choice) /
Organisation
Amct.003
Modified Account Parties / …
/ Party (Party 24 Choice) /
Organisation (Organisation
17) / Identification
Entity that has been appointed
by a legal authorithy to act on
behalf of a person or
organisation that has gone
bankrupt.
Organised structure that is set up
for a particular purpose, eg, a
business, government body,
department, charity, or financial
institution.
Unique and unambiguous
identifier for an organisation that
is allocated by an institution, eg,
Dun & Bradstreet Identification.
Amct.003
Modified Account Parties / …
Purpose of the organisation, eg,
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Revised Definition
Entity that has been appointed by
a legal authority to act on behalf
of a person or organisation that
has gone bankrupt.
Organised structure that is set up
for a particular purpose, for
example, a business, government
body, department, charity, or
financial institution.
Unique and unambiguous
identifier for an organisation that
is allocated by an institution, for
example, Dun & Bradstreet
Identification.
Purpose of the organisation, for
example, charity.
Additional information about a
person that follows a person's
name, for example, qualification
such as Doctor of Philosophy
(PhD).
Country and residential status of
an individual, for example, nonpermanent resident.
Entity that has been appointed by
a legal authority to act on behalf
of a person or organisation that
has gone bankrupt.
Organised structure that is set up
for a particular purpose, for
example, a business, government
body, department, charity, or
financial institution.
Unique and unambiguous
identifier for an organisation that
is allocated by an institution, for
example, Dun & Bradstreet
Identification.
Purpose of the organisation, for
ISO 20022 Investment Funds Maintenance 2015
Message
Acmt.003
Acmt.003
Acmt.002
J.
Element
/ Party (Party 24 Choice) /
Organisation (Organisation
17) / Purpose
Account Parties / … / Party /
Individual Person (Individual
Person 24) / NameSuffix
Current Definition
charity.
Revised Definition
example, charity.
Additional information about a
person that follows a person's
name, eg, qualification such as
Doctor of Philosophy (PhD).
Account Parties / … / Party /
Individual Person (Individual
Person 24) /
CountryAndResidentialStatus
Account Parties (Account
Parties 11) / Administrator
Country and residential status of
an individual, for example, nonpernament resident.
Additional information about a
person that follows a person's
name, for example, qualification
such as Doctor of Philosophy
(PhD).
Country and residential status of
an individual, for example, nonpermanent resident.
Entity that has been appointed
by a legal authorithy to act on
behalf of a person or
organisation that has gone
bankrupt.
Entity that has been appointed by
a legal authority to act on behalf
of a person or organisation that
has gone bankrupt.
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 CR0423 (acmt) Add optional Type codes to
AccountParties/Individual Person/Other Identification (ID 900)
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)
- 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:
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ISO 20022 Investment Funds Maintenance 2015
H. Impact analysis:
No impact, proposed implementation is similar to that described above.
There has been some fine-tuning of the implementation.
I.
Implementation:
[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
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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
GenericTaxIdentificationNumber
Generic 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.002, 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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18 CR0424 (acmt) Add optional Tax elements to
AccountParties/Organisation – Tax Identification (ID 901)
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:
.
Consider
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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:
No impact, proposed implementation is similar to that described above.
There has been some fine-tuning of the implementation..
The decision on which ‘generic identification’ component to use is still outstanding (appendix 26.5).
This will be raised, by e-mail, as a subsequent item for the investment funds evaluation team.
10 September 2014:
Document1
Decision made to use Generic Identification 47
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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
Tax Identification
[2]
Tax identification information.
New message component
New message component
Name
Definition
Element
Identification
Type
Issuer
Issue Date
Expiry Date
Issuer Country
[3]
29 Oct
2014: [0..n]
TaxIdentificationN (where N is the next number to be assigned)
Tax identification information
Multiplicity Definition
Data Type
[1]
Tax identification number or
Max35Text
identifier.
[1]
Type of tax identification number TaxTypeNChoice (see below)
or identifier.
[0.1]
Entity that assigns the identifier.
Max35Text
[0.1]
Date at which the identification
ISO Date
was issued.
[0.1]
Date at which the identification
ISO Date
expires.
[0.1] 29
Country that issued the tax
Country Code
Oct 2014:
identification.
[1..1]
New Choice Component
Name
Definition
Element
Document1
TaxTypeNChoice
Choice of formats for the type of tax identification.
Multiplicity Definition
Data Type
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ISO 20022 Investment Funds Maintenance 2015
Code
[1]
Proprietary
[1]
Type of tax identification number
expressed as a code.
Type of tax identification number
expressed as a proprietary code.
TaxTypeNNCode
Generic Identification 47 See
appendix 26.5
(already exists)
[4]
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.002, 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:
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
19 CR0425 (acmt) Add optional FATCA Form Type to
Party/Individual and AccountParties/Organisation (ID 902)
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
- 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
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ISO 20022 Investment Funds Maintenance 2015
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:
For the Proprietary element, a generic component comprising Identification, Issuer and Schema
name is to be used.
It was agreed that this element should be implemented at the level of the ‘party’ rather than at
both the level of individual person and the organisation.
The decision on which ‘generic identification’ component to use is still outstanding (appendix
26.5). This will be raised, by e-mail, as a subsequent item for the investment funds evaluation
team.
10 September 2014:
Document1
Decision made to use Generic Identification 47
Produced by SWIFT29 Oct 2014 127
ISO 20022 Investment Funds Maintenance 2015
I.
Implementation
‘Element to be added at the level of the party, rather than at both the level of the individual
person and the organisation.
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[1]
A new element is to be added.
Element
Multiplicity
Definition
Data Type
FATCAFormType
[0.n]
Type of Foreign Account Tax
Compliance Act (FATCA) form
submitted by the investor.
New choice component
[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 47. See
Compliance Act (FATCA) form expressed appendix 26.5 (already
as a proprietary code.
exists)
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)
Document1
Code set Definition
Codes
Specifies the type of Foreign Account
Tax Compliance Act (FATCA) form.
See above
Produced by SWIFT 29 Oct 2014 129
ISO 20022 Investment Funds Maintenance 2015
[5]
In acmt.001 and acmt.002, 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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ISO 20022 Investment Funds Maintenance 2015
20 CR0426 (acmt) Add optional FATCA Status to
AccountParties/Organisation & Party/Individual person (ID 903)
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
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
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ISO 20022 Investment Funds Maintenance 2015
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:
There has been some fine-tuning of the implementation.
The decision on which ‘generic identification’ component to use is still outstanding (appendix 26.5).
This will be raised, by e-mail, as a subsequent item for the investment funds evaluation team.
10 September 2014:
Document1
Decision made to use Generic Identification 47
Produced by SWIFT 29 Oct 2014 132
ISO 20022 Investment Funds Maintenance 2015
I.
Implementation
Element to be added at the level of the party, rather than at both the level of the individual person and
the organisation.
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ISO 20022 Investment Funds Maintenance 2015
Add new element.
[1]
The element name and its data type:.
Element
Multiplicity
Definition
Data Type
InvestorFATCAStatus
[0.n]
Foreign Account Tax Compliance Act
(FATCA) status of the investor.
New message component
‘FATCAStatusN’.
[2]
New message component
Name
Definition
Element
Type
Source
[3]
New Choice Component - 1
Name
Definition
Element
Code
Proprietary
[4]
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)
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 47. See
Act (FATCA) status expressed as a
appendix 26.5
proprietary code.
(already exists)
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
F101
FATCA101
2
F102
FATCA102
3
4
5
F103
F104
F105
FATCA103
FATCA104
FATCA105
6
F201
FATCA201
7
F202
FATCA202
8
F203
FATCA203
Document1 Produced by SWIFT 29 Oct 2014
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.
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ISO 20022 Investment Funds Maintenance 2015
9
F204
FATCA204
10
F205
FATCA205
11
F206
FATCA206
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
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 47. See
appendix 26.5
(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.002, 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:
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ISO 20022 Investment Funds Maintenance 2015
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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136
ISO 20022 Investment Funds Maintenance 2015
21 CR0421 (acmt) Add optional KYC Database Check to
AccountParties/Investor Profile Validation (ID 904)
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)
- 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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ISO 20022 Investment Funds Maintenance 2015
normal yearly cycle)
- Other timing:
Comments:
H. Impact analysis:
No impact, proposed implementation is similar to that described above.
There has been some fine-tuning of the implementation
I.
Implementation
[1]
An optional sequence ‘DataBaseCheck is to be added:
Element
Multiplicity
Definition
Data Type
Know Your
[0.1]
Specifies whether a customer has been
New Message
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ISO 20022 Investment Funds Maintenance 2015
Customer
Database Check
[2]
Component
New Message Component:
Name
Definition
Element
Indicator
Identification
[3]
checked in a Know Your Customer (KYC)
database.
DataBaseCheck1
Information about a database
Multiplicity Definition
[1]
Indicates whether the individual or
organisation is listed in an on-line
global Know Your Customer (KYC)
database.
[0.1]
Identification of the database
Data Type
YesNoIndicator
Max35Text
In acmt.001 and acmt.002, 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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ISO 20022 Investment Funds Maintenance 2015
22 CR0416 (acmt) Add optional Settlor to AccountParties (ID 905)
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)
- 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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ISO 20022 Investment Funds Maintenance 2015
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. – this was overruled.
‘It was agreed that ‘TrustSettlor’ is a better name for this new element and will eliminate ambiguity with
‘Settler’ 17 October 2014 Draft 1 review meeting – this was overruled. It was agreed that the existing
element ‘Settler’ is renamed to ‘Settlor’, the definition is changed to ‘Entity that creates a trust or
contributes assets to the trust’ and the multiplicity is [0..5] . It has been noted that the existing ‘Granter’
should probably be ‘Grantor’ - a change request will have to be submitted for this.
There has been some fine-tuning of the implementation.
I.
Implementation
An optional sequence ‘Settlor’ is to be added to the Account Parties sequence:
Element
Multiplicity
Definition
Data Type
Trust (see
section H
above)
[ [0.5]
Entity that creates a trust or contributes
assets to the trust.
Investment Account
Ownership Information 9
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Settler
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
[2]
Account Details Confirmation acmt.002
The new element is to be added to Account Parties.
[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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ISO 20022 Investment Funds Maintenance 2015
23 CR0418 (acmt) Add optional Status Of Plan to Savings &
Withdrawal Investment Plan (ID 906)
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)
- 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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ISO 20022 Investment Funds Maintenance 2015
Comments:
H. Impact analysis:
The code SSPD is not used, but rather SUSP as this has already been defined in ISO 20022.
For the code, to be implemented as a choice between code and proprietary.
There has been some fine-tuning of the implementation.
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.
Implement as choice
between Code list (see
below) and Proprietary
[2]
Code
ACTV
SUSP
CLOS
[3]
New code list (PlanStatus1Code)
Code Name
Active
Suspended
Closed
Definition
Plan is active.
Plan is suspended
Plan is closed.
In acmt.001 and acmt.002, 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.
A new parent code list is required.
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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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ISO 20022 Investment Funds Maintenance 2015
24 CR0419 (acmt) Add optional Amount and Units to Savings &
Withdrawal Investment Plan Security Details (ID 907)
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)
- 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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ISO 20022 Investment Funds Maintenance 2015
normal yearly cycle)
- Other timing:
Comments:
H. Impact analysis:
No impact, proposed implementation is similar to that described above.
There has been some fine-tuning of the implementation.
4 Dec 2014
I.
ISO quality review indicated that some of the existing definitions, that is, those not
introduced as new components/elements introduced by the maintenance need to be
updated for style – see below.
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
Quantity
[1.1]
Amount, units or percentage of
financial instrument invested or
Choice (see
below)
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ISO 20022 Investment Funds Maintenance 2015
withdrawn.
[2]
New choice component
Name
Definition
Element
Amount
Unit
Percentage
UnitsOrAmountOrPercentage1Choice
Choice between an amount or number of units or percentage.
Multiplicity Definition
Data Type
[1]
Cash amount.
Active Currency And Amount
[1]
Number of units.
Decimal Number
[1]
Percentage of cash amount.
Percentage Rate
Is there a requirement to have ‘percentage of units’? NO.
[3]
In acmt.001 and acmt.002, 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.
4 Dec 2014
Message
Acmt.001, 002,
003
J.
ISO quality review indicated that some of the existing definitions, that is, those not
introduced as new components/elements introduced by the maintenance need to be
updated for style:
Element
Savings Investment Plan /
Security Details / Financial
Instrument
Current Definition
Security that is a sub-set of an
investment fund, and is governed
by the same investment fund
policy, eg, dividend option or
valuation currency.
Revised Definition
Security that is a sub-set of an
investment fund, and is governed
by the same investment fund
policy, for example, dividend
option or valuation currency.
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
25 CR0420 (acmt) Add optional Instalment Manager Role to Savings
& Withdrawal InvestmentPlan/Security Details - (ID 908)
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:
As a result of the draft 1 review meeting on 17 October 2014, the implementation has been finetuned.
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 instalment
manager.
New version of Party Role
Choice created with a code
list
‘InvestmentFundRoleNCode’
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ISO 20022 Investment Funds Maintenance 2015
that contains the codes
listed below
The investment Fund Role code is to contain the following:
InvestmentFundRole6Code.
CONC
Concentrator
DIST
Distributor
Fund Management
FMCO
Company
INTR
Intermediary
PAYI
PayingAgent
REGI
Registrar
TRAG
TransferAgent
[2]
Party that acts as an aggregator of funds, also called a funds hub.
Party that act as an wholesaler of funds.
Party that sets up a fund, decides upon the investment strategy, appoints agents, and
is responsible for the promotion and the marketing of the fund. This party makes all
the strategic decisions related to a fund.
Party that provides services to investors relating to financial products. These services
may include some, or all of, provision of information and advice on products,
placement of investment orders, transmission of payment, custody of assets, and the
administration of rights and benefits. In the specific framework of investment funds
industry, an intermediary may present information about funds to potential investors,
and solicit orders for the fund. This intermediary may facilitate the transmission of the
orders and information from/to the investors and/or other intermediaries. The
intermediary receives commission from the Fund and/or fees from the investor.
Agent that executes the payment. In the context of the investment fund industry, the
paying agent is the local legal representative of the fund. It may pay out dividends, and
collects money for the purchase of funds when a client deals directly with the fund
and/or when a client deals with bearer shares. It pays out the redemption of the fund,
may distribute information about the fund, and provides legal information about the
fund.
Party responsible for keeping track of the owners of securities. In the investment fund
business, this party keeps the investor registry of the fund, and administers investor
accounts and related records. It is appointed by the fund management company.
Party appointed by the fund management company. This party updates records of
investor accounts to reflect the daily investor purchases, redemptions, switches,
transfers, and re-registrations. It ensures the timely settlement of transactions, and
may provide tax information to the investor and/or to its intermediaries. It may
calculate, collect, and rebate commissions. It prepares and distributes confirmations
reflecting transactions, resulting in unit or cash account movements to the investor or
the investor's intermediary. It responds to inquiries concerning account status, and
processes the income distribution.
In acmt.001 and acmt.002, 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):
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ISO 20022 Investment Funds Maintenance 2015
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
26 CR0340 (acmt) Replace XOR Construct with Choice Component
(ID 909)
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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ISO 20022 Investment Funds Maintenance 2015
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:
The following will need updating as a result of XOR replacement by a choice component:
[1]
OtherReferenceGuideline - path to be updated
[2]
PreviousOrOtherReferenceOrAccountApplicationIdentificationRule – change name to
LinkedReferenceOrAccountApplicationIdentificationRule and modify the rule text accordingly.
[3]
PreviousReferenceGuideline – paths to be updated
The decision on which ‘generic identification’ component to use is still outstanding (appendix 26.5). This
will be raised, by e-mail, as a subsequent item for the investment funds evaluation team.
10 September 2014:
Decision made to use Generic Identification 47
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ISO 20022 Investment Funds Maintenance 2015
4 Dec 2014
ISO quality review indicated that some of the existing definitions, that is, those not
introduced as new components/elements introduced by the maintenance need to be
updated for style – see below.
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ISO 20022 Investment Funds Maintenance 2015
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
47. See
appendix 26.5
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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ISO 20022 Investment Funds Maintenance 2015
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.
PartyIdentificat
ion5 Choice
1..1
Data Type for
choice element
Choice
eleme
nt
M/O
[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
LinkedMessa
ge
Reference to a
linked message.
0..1
Reference N Choice
Other
Reference
Reference to a linked
message sent in a
proprietary way or
reference of a
system.
Reference to a linked
Definition: Choice of
references.
Previous Reference
Document1
Previous
Produced by SWIFT 29 Sep 2014
1..1
AdditionalRefe
rence3
1..1
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ISO 20022 Investment Funds Maintenance 2015
Elements of the
XOR
#
Request 2 Individual Owner
Details /
Identification
Investmen
t Account
Organisation Owner
Identification
4 Dec 2014
Message
Acmt.004
Acmt.004
Document1
Replace by
Element
Name
Owner
Identificatio
n
Element
Definition
Identification of
the owner of
the account.
Element
M/O
0..1
Choice Component
Name & Definition
Elements of
the Choice
Component
Definition of choice
element
Data Type for
choice element
Reference
message that was
previously sent.
AdditionalRefe
rence3
Owner Identification N
Choice
Individual
Identification of an
individual person.
IndividualPerso
nIdentification
Choice
Definition: Choice of
individual or
organisation details.
Organisation
Identification of an
organisation.
Current Definition
Legal form of the fund, eg, UCITS,
SICAV, OEIC, Unit Trust, and FCP.
Revised Definition
Legal form of the fund, for
example, UCITS, SICAV, OEIC, Unit
Trust, FCP.
Party that provides services
relating to financial products to
investors, eg, advice on products
and placement of orders for the
investment fund.
Party that provides services
relating to financial products to
investors, for example, advice on
products and placement of orders
for the investment fund.
Produced by SWIFT 29 Sep 2014
1..1
1..1
PartyIdentificat
ion2 Choice
ISO quality review indicated that some of the existing definitions, that is, those not introduced as new components/elements
introduced by the maintenance need to be updated for style:
Element
Investment Account
Selection / Other Account
Selection Data
(InvestmentAccount)44 /
FundType
Investment Account
Selection / Other Account
Selection Data
(InvestmentAccount)44 /
Intermediary
Choice
eleme
nt
M/O
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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:
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ISO 20022 Investment Funds Maintenance 2015
27 Revisions to Textual Description of Rules as a result of ISO Quality Review
4 Dec 2014
ISO quality review indicated that some of the existing rule textual definitions, that is, those rules not introduced as by the
maintenance need to be updated for language style:
Message
Sese.001
Location
Root
Rule Name
RequestedSettlementDate
Rule
sese.003
Root
EffectiveSettlementDateRul
e
sese.003
Root
RequestedSettlementDate
Rule
Sese.005
Root
RequestedSettlementDate
Rule
Sese.007
Root
EffectiveSettlementDateRul
e
Sese.007
Root
RequestedSettlementDate
Rule
Sese.002
Cancellation /
Transfer Out Details
(Transfer Out 15)
RequestedSettlementDate
Rule
Document1
Current Definition
Either
TransferDetails/RequestedSettlementDate or
SettlementDetails/RequestedSettlementDate
may be present, but not both.
Either TransferDetails/EffectiveSettlementDate
or SettlementDetails/EffectiveSettlementDate
may be present, but not both.
Either
TransferDetails/RequestedSettlementDate or
SettlementDetails/RequestedSettlementDate
may be present, but not both.
Either
TransferDetails\RequestedSettlementDate or
SettlementDetails\RequestedSettlementDate
may be present, but not both.
Either TransferDetails\EffectiveSettlementDate
or SettlementDetails\Effective Settlement Date
may be present, but not both.
Either
TransferDetails\RequestedSettlementDate or
SettlementDetails\RequestedSettlementDate
may be present, but not both.
Either
TransferAndReferences/TransferDetails/Request
edSettlementDate or
SettlementDetails/RequestedSettlementDate
may be present, but not both.
Produced by SWIFT 29 Oct 2014
160
Revised Definition
Either TransferDetails/RequestedSettlementDate may be
present in one or more occurrences of TransferDetails or
SettlementDetails/RequestedSettlementDate may be
present, but not both.
Either TransferDetails/EffectiveSettlementDate may be
present in one or more occurrences of TransferDetails or
SettlementDetails/EffectiveSettlementDate may be present,
but not both.
Either TransferDetails/RequestedSettlementDate may be
present in one or more occurrences of TransferDetails or
SettlementDetails/RequestedSettlementDate may be
present, but not both.
Either TransferDetails/RequestedSettlementDate may be
present in one or more occurrences of TransferDetails or
SettlementDetails/RequestedSettlementDate may be
present, but not both.
Either TransferDetails/EffectiveSettlementDate may be
present in one or more occurrences of TransferDetails or
SettlementDetails/Effective Settlement Date may be
present, but not both.
Either TransferDetails/RequestedSettlementDate may be
present in one or more occurrences of TransferDetails or
SettlementDetails/RequestedSettlementDate may be
present, but not both.
Either
TransferAndReferences/TransferDetails/RequestedSettleme
ntDate may be present in one or more occurrences of
TransferAndReferences/TransferDetails or
SettlementDetails/RequestedSettlementDate may be
present, but not both.
ISO 20022 Investment Funds Maintenance 2015
Reversal /
TransferOutConfirm
ationDetails
(Transfer Out 14)
Reversal /
TransferOutConfirm
ationDetails
(Transfer Out 14)
Cancellation /
Transfer In Details
(Transfer In 13)
EffectiveSettlementDateRul
e
Either TransferDetails/EffectiveSettlementDate
or SettlementDetails/EffectiveSettlementDate
may be present, but not both.
RequestedSettlementDate
Rule
Either
TransferDetails/RequestedSettlementDate or
SettlementDetails/RequestedSettlementDate
may be present, but not both.
Either
TransferAndReferences/TransferDetails/Request
edSettlementDate or
SettlementDetails/RequestedSettlementDate
may be present, but not both.
Reversal /
TransferInConfirmat
ionDetails (Transfer
In 12)
Reversal /
TransferInConfirmat
ionDetails (Transfer
In 12)
EffectiveSettlementDateRul
e
Either TransferDetails/EffectiveSettlementDate
or SettlementDetails/EffectiveSettlementDate
may be present, but not both.
RequestedSettlementDate
Rule
Either
TransferDetails/RequestedSettlementDate or
SettlementDetails/RequestedSettlementDate
may be present, but not both.
Either TransferDetails/EffectiveSettlementDate may be
present in one or more occurrences of TransferDetails or
SettlementDetails/EffectiveSettlementDate may be present,
but not both.
Either TransferDetails/RequestedSettlementDate may be
present in one or more occurrences of TransferDetails or
SettlementDetails/RequestedSettlementDate may be
present, but not both.
Either
TransferAndReferences/TransferDetails/RequestedSettleme
ntDate may be present in one or more occurrences of
TransferAndReferences/TransferDetails or
SettlementDetails/RequestedSettlementDate may be
present, but not both.
Either TransferDetails/EffectiveSettlementDate may be
present in one or more occurrences of TransferDetails or
SettlementDetails/EffectiveSettlementDate may be present,
but not both.
Either TransferDetails/RequestedSettlementDate may be
present in one or more occurrences of TransferDetails or
SettlementDetails/RequestedSettlementDate may be
present, but not both.
Semt.006
Root
TransactionOnAccountOrSu
bAccountDetailsRule
Semt.007
StatementToBeCanc
elled
(StatementOfInvest
mentFundTransacti
ons3)
TransactionOnAccountOrSu
bAccountDetailsRule
Sese.012
Root
DesignationRule
If StatementGeneralDetails/ActivityIndicator is
"true" or "1" (Yes), then either
TransactionOnAccount or SubAccountDetails is
mandatory. If
StatementGeneralDetails/ActivityIndicator is
"false" or "0" (No), then TransactionOnAccount
and SubAccountDetails are not allowed.
If StatementGeneralDetails/ActivityIndicator is
"true" or "1" (Yes), then either
TransactionOnAccount or SubAccountDetails
must be present. If
StatementGeneralDetails/ActivityIndicator is
"false" or "0" (No), then TransactionOnAccount
and SubAccountDetails are not allowed.
If ProductTransfer/Portfolio/ISA is present, then
TransferorAccount/Designation is not allowed. If
ProductTransfer/Portfolio/Portfolio is present,
If StatementGeneralDetails/ActivityIndicator is "true" or "1"
(Yes), then either one or more occurrences of
TransactionOnAccount or one or more occurrences of
SubAccountDetails is mandatory. If
StatementGeneralDetails/ActivityIndicator is "false" or "0"
(No), then TransactionOnAccount and SubAccountDetails
are not allowed.
If StatementGeneralDetails/ActivityIndicator is "true" or "1"
(Yes), then either one or more occurrences of
TransactionOnAccount or one or more occurrences of
SubAccountDetails must be present. If
StatementGeneralDetails/ActivityIndicator is "false" or "0"
(No), then TransactionOnAccount and SubAccountDetails
are not allowed.
If any occurrence of ProductTransfer/Portfolio/ISA is
present, then TransferorAccount/Designation is not allowed.
If any occurrence of ProductTransfer/Portfolio/Portfolio is
Sese.004
Sese.004
Sese.006
Sese.008
Sese.008
Document1
RequestedSettlementDate
Rule
Produced by SWIFT 29 Oct 2014
161
ISO 20022 Investment Funds Maintenance 2015
Sese.012
Root
PorfolioRule
Sese.013
Root
DesignationRule
Sese.013
Root
ISARule
Sese.013
Root
PorfolioRule
Sese.014
Document1
Cancellaton /
Cancellation By
Transfer instruction
Details
DesignationRule
then TransferorAccount/Designation is allowed.
If ProductTransfer\Portfolio is present, then one
or more message elements in the list
(PrimaryIndividualInvestor,
SecondaryIndividualInvestor,
OtherIndividualInvestor) may be present
If ProductTransfer\Portfolio is present, then one
or more message elements in the list
(PrimaryCorporateInvestor,
SecondaryCorporateInvestor,
OtherCorporateInvestor) may be present.
If ProductTransfer/Portfolio/ISA is present, then
TransferorAccount/Designation is not allowed. If
ProductTransfer/Portfolio/Portfolio is present,
then TransferorAccount/Designation is allowed.
If ProductTransfer/Portfolio/ISA is present, then
SecondaryIndividualInvestor and/or
OtherIndividualInvestor is not allowed.
If ProductTransfer/Portfolio/ISA is present, then
the message elements in the list
(PrimaryCorporateInvestor,
SecondaryCorporateInvestor,
OtherCorporateInvestor) are not allowed.
If ProductTransfer\Portfolio is present, then one
or more message elements in the list
(PrimaryIndividualInvestor,
SecondaryIndividualInvestor,
OtherIndividualInvestor) may be present
If ProductTransfer\Portfolio is present, then one
or more message elements in the list
(PrimaryCorporateInvestor,
SecondaryCorporateInvestor,
OtherCorporateInvestor) may be present.
If ProductTransfer/Portfolio/ISA is present, then
TransferorAccount/Designation is not allowed.
If ProductTransfer/Portfolio/Portfolio is present,
then TransferorAccount/Designation is allowed.
Produced by SWIFT 29 Oct 2014
162
present, then TransferorAccount/Designation is allowed.
If any occurrence of ProductTransfer\Portfolio is present,
then one or more elements in the list
(PrimaryIndividualInvestor, SecondaryIndividualInvestor,
OtherIndividualInvestor) may be present.
If any occurrence of ProductTransfer\Portfolio is present,
then one or more elements in the list
(PrimaryCorporateInvestor, SecondaryCorporateInvestor,
OtherCorporateInvestor) may be present.
If any occurrence of ProductTransfer/Portfolio/ISA is
present, then TransferorAccount/Designation is not allowed.
If any occurrence of ProductTransfer/Portfolio/Portfolio is
present, then TransferorAccount/Designation is allowed.
If any occurrence of ProductTransfer/Portfolio/ISA is
present, then SecondaryIndividualInvestor and/or
OtherIndividualInvestor is not allowed.
If any occurrence of ProductTransfer/Portfolio/ISA is
present, then the elements in the list
(PrimaryCorporateInvestor, SecondaryCorporateInvestor,
OtherCorporateInvestor) are not allowed.
If any occurrence of ProductTransfer\Portfolio is present,
then one or more elements in the list
(PrimaryIndividualInvestor, SecondaryIndividualInvestor,
OtherIndividualInvestor) may be present
If any occurrence of ProductTransfer\Portfolio is present,
then one or more elements in the list
(PrimaryCorporateInvestor, SecondaryCorporateInvestor,
OtherCorporateInvestor) may be present.
If any occurrence of ProductTransfer/Portfolio/ISA is
present, then TransferorAccount/Designation is not allowed.
If any occurrence of ProductTransfer/Portfolio/Portfolio is
present, then TransferorAccount/Designation is allowed.
ISO 20022 Investment Funds Maintenance 2015
Sese.014
Sese.014
Cancellaton /
Cancellation By
Transfer instruction
Details
Cancellaton /
Cancellation By
Transfer instruction
Details
ISARule
PorfolioRule
If ProductTransfer/Portfolio/ISA or
ProductTransfer/Portfolio/Portfolio is present,
then SecondaryIndividualInvestor and/or
OtherIndividualInvestor is not allowed.
If any occurrence of ProductTransfer/Portfolio/ISA or
ProductTransfer/Portfolio/Portfolio is present, then
SecondaryIndividualInvestor and/or OtherIndividualInvestor
is not allowed.
If ProductTransfer/Portfolio/ISA or
ProductTransfer/Portfolio/Portfolio is present
then the message elements in the list
(PrimaryCorporateInvestor,
SecondaryCorporateInvestor,
OtherCorporateInvestor) are not allowed.
If ProductTransfer/Portfolio is present, then one
or more message elements in the list
(PrimaryIndividualInvestor,
SecondaryIndividualInvestor,
OtherIndividualInvestor) may be present
If any occurrence of ProductTransfer/Portfolio/ISA or
ProductTransfer/Portfolio/Portfolio is present then the
elements in the list (PrimaryCorporateInvestor,
SecondaryCorporateInvestor, OtherCorporateInvestor) are
not allowed.
If ProductTransfer/Portfolio is present, then one
or more message elements in the list
(PrimaryCorporateInvestor,
SecondaryCorporateInvestor,
OtherCorporateInvestor) may be present.
Camt.040045
NetCashForecast4
AdditionalBalanceRule
If AdditionalBalance is present, then at least one
occurrence of
(AdditionalBalance/TotalUnitsFromUnitOrders,
AdditionalBalance/TotalUnitsFromCashOrders,
AdditionalBalance/TotalCashFromUnitOrders,
AdditionalBalance/TotalCashFromCashOrders)
must be present.
Acmt.003
ModifiedInvestmen
tAccount
(InvestmentAccount
47)
ModifiedInvestmen
tAccount
(InvestmentAccount
47)
InvestmentAccount
IncomePreferenceReinvest
mentRule
If IncomePreference is CASH, then
ReinvestmentDetails is not allowed.
ReinvestmentPercentageRu
le
Sum of all occurrences of
ReinvestmentDetails/ReinvestmentPercentage
must not be greater than 100.
IncomePreferenceReinvest
If IncomePreference is CASH, then
Acmt.003
Acmt.002
Document1
Produced by SWIFT 29 Oct 2014
163
If any occurrence of ProductTransfer/Portfolio is present,
then one or more elements in the list
(PrimaryIndividualInvestor, SecondaryIndividualInvestor,
OtherIndividualInvestor) may be present.
If any occurrence of ProductTransfer/Portfolio is present,
then one or more elements in the list
(PrimaryCorporateInvestor, SecondaryCorporateInvestor,
OtherCorporateInvestor) may be present.
If AdditionalBalance is present, then at least one or more
elements in the list
(AdditionalBalance/TotalUnitsFromUnitOrders,
AdditionalBalance/TotalUnitsFromCashOrders,
AdditionalBalance/TotalCashFromUnitOrders,
AdditionalBalance/TotalCashFromCashOrders) must be
present.
ISO 20022 Investment Funds Maintenance 2015
mentRule
ReinvestmentDetails is not allowed.
ReinvestmentPercentageRu
le
Acmt.001
(InvestmentAccount
46)
InvestmentAccount
(InvestmentAccount
46)
Root
Acmt.003
Root
UnitRule
Acmt.002
Root
UnitRule
Acmt.003
Modified Account
Parties (Account
Parties 11)
AddressRule
Sum of all occurrences of Reinvestment
Details/Reinvestment Percentage must not be
greater than 100.
If SavingsInvestmentPlan is present, then
SavingsInvestmentPlan/Quantity/Unit is not
allowed.
If ModifiedSavingsInvestmentPlan is present,
then
ModifiedSavingsInvestmentPlan/InvestmentPla
n/Quantity/Unit is not allowed.
If SavingsInvestmentPlan is present, then
SavingsInvestmentPlan/Quantity/Unit is not
allowed.
If ModificationScopeIndication is INSE, then one
of the following must be present:
PrincipalAccountParty/PrimaryOwner/Party/Org
anisation/ModifiedPostalAddress/ModificationS
copeIndication/INSE
PrincipalAccountParty/PrimaryOwner/Party/Indi
vidualPerson/ModifiedPostalAddress/Modificati
onScopeIndication/INSE
PrincipalAccountParty/Trustee/Party/Organisati
on/ModifiedPostalAddress/ModificationScopeIn
dication/INSE
PrincipalAccountParty/Trustee/Party/Individual
Person/ModifiedPostalAddress/ModificationSco
peIndication/INSE
PrincipalAccountParty/CustodianForMinor/Party
/Organisation/ModifiedPostalAddress/Modificat
ionScopeIndication/INSE
PrincipalAccountParty/CustodianForMinor/Party
/IndividualPerson/ModifiedPostalAddress/Modi
ficationScopeIndication/INSE
PrincipalAccountParty/Nominee/Party/Organisa
tion/ModifiedPostalAddress/ModificationScopeI
ndication/INSE
PrincipalAccountParty/Nominee/Party/Individua
lPerson/ModifiedPostalAddress/ModificationSc
opeIndication/INSE
Acmt.002
Document1
UnitRule
Produced by SWIFT 29 Oct 2014
164
If ModificationScopeIndication is INSE, then one of the
following must be present:
PrincipalAccountParty/PrimaryOwner/Party/Organisation/M
odifiedPostalAddress/ModificationScopeIndication/INSE
PrincipalAccountParty/PrimaryOwner/Party/IndividualPerso
n/ModifiedPostalAddress/ModificationScopeIndication/INSE
PrincipalAccountParty/Trustee/Party/Organisation/Modified
PostalAddress/ModificationScopeIndication/INSE
PrincipalAccountParty/Trustee/Party/IndividualPerson/Modi
fiedPostalAddress/ModificationScopeIndication/INSE
PrincipalAccountParty/CustodianForMinor/Party/Organisati
on/ModifiedPostalAddress/ModificationScopeIndication/INS
E
PrincipalAccountParty/CustodianForMinor/Party/IndividualP
erson/ModifiedPostalAddress/ModificationScopeIndication/
INSE
PrincipalAccountParty/Nominee/Party/Organisation/Modifie
dPostalAddress/ModificationScopeIndication/INSE
PrincipalAccountParty/Nominee/Party/IndividualPerson/Mo
difiedPostalAddress/ModificationScopeIndication/INSE
PrincipalAccountParty/JointOwner/Party/Organisation/Modi
fiedPostalAddress/ModificationScopeIndication/INSE
PrincipalAccountParty/JointOwner/Party/IndividualPerson/
ModifiedPostalAddress/ModificationScopeIndication/INSE
SecondaryOwner/Party/Organisation/ModifiedPostalAddres
s/ModificationScopeIndication/INSE
ISO 20022 Investment Funds Maintenance 2015
PrincipalAccountParty/JointOwner/Party/Organi
sation/ModifiedPostalAddress/ModificationSco
peIndication/INSE
PrincipalAccountParty/JointOwner/Party/Individ
ualPerson/ModifiedPostalAddress/Modification
ScopeIndication/INSE
SecondaryOwner/Party/Organisation/ModifiedP
ostalAddress/ModificationScopeIndication/INSE
SecondaryOwner/Party/IndividualPerson/Modifi
edPostalAddress/ModificationScopeIndication/I
NSE
Beneficiary/Party/Organisation/ModifiedPostalA
ddress/ModificationScopeIndication/INSE
Beneficiary/Party/IndividualPerson/ModifiedPos
talAddress/ModificationScopeIndication/INSE
PowerOfAttorney/Party/Organisation/Modified
PostalAddress/ModificationScopeIndication/INS
E
PowerOfAttorney/Party/IndividualPerson/Modif
iedPostalAddress/ModificationScopeIndication/I
NSE
LegalGuardian/Party/Organisation/ModifiedPost
alAddress/ModificationScopeIndication/INSE
LegalGuardian/Party/IndividualPerson/Modified
PostalAddress/ModificationScopeIndication/INS
E
SuccessorOnDeath/Party/Organisation/Modifie
dPostalAddress/ModificationScopeIndication/IN
SE
SuccessorOnDeath/Party/IndividualPerson/Mod
ifiedPostalAddress/ModificationScopeIndication
/INSE
Adminstrator/Party/Organisation/ModifiedPost
alAddress/ModificationScopeIndication/INSE
Adminstrator/Party/IndividualPerson/ModifiedP
ostalAddress/ModificationScopeIndication/INSE
Granter/Party/Organisation/ModifiedPostalAdd
ress/ModificationScopeIndication/INSE
Granter/Party/IndividualPerson/ModifiedPostal
Address/ModificationScopeIndication/INSE
Settler/Party/Organisation/ModifiedPostalAddr
ess/ModificationScopeIndication/INSE
Document1
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165
SecondaryOwner/Party/IndividualPerson/ModifiedPostalAd
dress/ModificationScopeIndication/INSE
Beneficiary/Party/Organisation/ModifiedPostalAddress/Mod
ificationScopeIndication/INSE
Beneficiary/Party/IndividualPerson/ModifiedPostalAddress/
ModificationScopeIndication/INSE
PowerOfAttorney/Party/Organisation/ModifiedPostalAddres
s/ModificationScopeIndication/INSE
PowerOfAttorney/Party/IndividualPerson/ModifiedPostalAd
dress/ModificationScopeIndication/INSE
LegalGuardian/Party/Organisation/ModifiedPostalAddress/
ModificationScopeIndication/INSE
LegalGuardian/Party/IndividualPerson/ModifiedPostalAddre
ss/ModificationScopeIndication/INSE
SuccessorOnDeath/Party/Organisation/ModifiedPostalAddre
ss/ModificationScopeIndication/INSE
SuccessorOnDeath/Party/IndividualPerson/ModifiedPostalA
ddress/ModificationScopeIndication/INSE
Administrator/Party/Organisation/ModifiedPostalAddress/
ModificationScopeIndication/INSE
Administrator/Party/IndividualPerson/ModifiedPostalAddres
s/ModificationScopeIndication/INSE
Granter/Party/Organisation/ModifiedPostalAddress/Modific
ationScopeIndication/INSE
Granter/Party/IndividualPerson/ModifiedPostalAddress/Mo
dificationScopeIndication/INSE
Settler/Party/Organisation/ModifiedPostalAddress/Modifica
tionScopeIndication/INSE
Settler/Party/IndividualPerson/ModifiedPostalAddress/Modi
ficationScopeIndication/INSE
OtherParty/OtherPartyDetails/Party/Organisation/Modified
PostalAddress/ModificationScopeIndication/INSE
OtherParty/OtherPartyDetails/Party/IndividualPerson/Modif
iedPostalAddress/ModificationScopeIndication/INSE
ISO 20022 Investment Funds Maintenance 2015
Settler/Party/IndividualPerson/ModifiedPostalA
ddress/ModificationScopeIndication/INSE
OtherParty/OtherPartyDetails/Party/Organisatio
n/ModifiedPostalAddress/ModificationScopeInd
ication/INSE
OtherParty/OtherPartyDetails/Party/IndividualP
erson/ModifiedPostalAddress/ModificationScop
eIndication/INSE
Camt.040
Root
ConsolidatedNetCashRule
Camt.040
Root
PreviousTradeDateRule
Camt.040
Root
TradeDate1Rule
Camt.040
Root
TradeDate2Rule
Camt.041
Root
ConsolidatedNetCashRule
Camt.041
Root
PreviousTradeDateRule
Camt.041
Root
TradeDate1Rule
Camt.041
Root
TradeDate2Rule
Document1
If ConsolidatedNetCashForecast is present, then
either FundOrSubFundDetails or
EstimatedFundCashForecastDetails must be
present. Both FundOrSubFundDetails and
EstimatedFundCashForecastDetails may be
present.
If EstimatedFundCashForecastDetails is present,
then FundOrSubFundDetails/PreviousDateTime
is not allowed.
If EstimatedFundCashForecastDetails is present,
then FundOrSubFundDetails/TradeDateTime is
not allowed.
If EstimatedFundCashForecastDetails is not
present, then
FundOrSubFundDetails/TradeDateTime must be
present.
If ConsolidatedNetCashForecast is present, then
either FundSubFundDetails or
FundCashForecastDetails must be present. Both
FundSubFundDetails and
FundCashForecastDetails may be present.
If FundCashForecastDetails is present, then
FundSubFundDetails/PreviousTradeDateTime is
not allowed.
If FundCashForecastDetails is present, then
FundOrSubFundDetails/TradeDateTime is not
allowed.
If FundCashForecastDetails is not present, then
Produced by SWIFT 29 Oct 2014
166
If ConsolidatedNetCashForecast is present, then at least one
occurrence of either FundOrSubFundDetails or
EstimatedFundCashForecastDetails must be present. Both
FundOrSubFundDetails and
EstimatedFundCashForecastDetails may be present.
If any occurrence of EstimatedFundCashForecastDetails is
present, then any occurrence of
FundOrSubFundDetails/PreviousDateTime is not allowed.
If any occurrence of EstimatedFundCashForecastDetails is
present, then any occurrence of
FundOrSubFundDetails/TradeDateTime is not allowed.
If EstimatedFundCashForecastDetails is not present, then at
least one occurrence of
FundOrSubFundDetails/TradeDateTime must be present.
If ConsolidatedNetCashForecast is present, then at least one
occurrence of either FundOrSubFundDetails or
FundCashForecastDetails must be present. Both
FundOrSubFundDetails and FundCashForecastDetails may be
present.
If any occurrence of FundCashForecastDetails is present,
then any occurrence of
FundOrSubFundDetails/PreviousTradeDateTime is not
allowed.
If any occurrence of FundCashForecastDetails is present,
then any occurrence of
FundOrSubFundDetails/TradeDateTime is not allowed.
If FundCashForecastDetails is not present, then at least one
ISO 20022 Investment Funds Maintenance 2015
Camt.044
CashForecastReport
ToBeCancelled
ConsolidatedNetCash1Rule
Camt.044
CashForecastReport
ToBeCancelled
PreviousTradeDate1Rule
Camt.044
CashForecastReport
ToBeCancelled
TradeDate1Rule
Camt.044
CashForecastReport
ToBeCancelled
TradeDate2Rule
Camt.043,
045
FundCashForecastD
etails
(FundCashForecast6
)
ExceptionalCashFlowIndica
torRule
Camt.040
EstimatedFundCash
ForecastDetails
(EstimatedFundCas
hForecast6)
ExceptionalCashFlowIndica
torRule
Document1
FundOrSubFundDetails/TradeDateTime must be
present.
If ConsolidatedNetCashForecast is present, then
either FundOrSubFundDetails or
FundCashForecastDetails must be present. Both
MainFundDetails and FundCashForecastDetails
may be present.
If FundCashForecastDetails is present, then
FundOrSubFundDetails/PreviousTradeDateTime
is not allowed.
If FundCashForecastDetails is present, then
FundOrSubFundDetails/TradeDateTime is not
allowed.
If FundCashForecastDetails is not present, then
FundOrSubFundDetails/TradeDateTime must be
present.
If ExceptionalNetCashFlowIndicator is "true" or
"1" (Yes) , then one of the following must be
present:
BreakdownByParty/CashInForecast/Exceptional
CashFlowIndicator, or
BreakdownByParty/CashOutForecast/Exception
alCashFlowIndicator, or
BreakdownByCountry/CashInForecast/Exception
alCashFlowIndicator, or
BreakdownByCountry/CashOutForecast/Excepti
onalCashFlowIndicator, or
BreakdownByCurrency/CashInForecast/Exceptio
nalCashFlowIndicator, or
BreakdownByCurrency/CashOutForecast/Except
ionalCashFlowIndicator, or
BreakdownByUserDefinedParameter/CashInFor
ecast/ExceptionalCashFlowIndicator, or
BreakdownByUserDefinedParameter/CashOutF
orecast/ExceptionalCashFlowIndicator.
If Exceptional NetCashFlowIndicator is "true" or
"1" (Yes) , then either
EstimatedCashInForecastDetails/ExceptionalCas
hFlowIndicator and
EstimatedCashOutForecastDetails/ExceptionalC
Produced by SWIFT 29 Oct 2014
167
occurrence of FundOrSubFundDetails/TradeDateTime must
be present.
If ConsolidatedNetCashForecast is present, then at least one
occurrence of either FundOrSubFundDetails or
FundCashForecastDetails must be present. Both
FundOrSubFundDetails and FundCashForecastDetails may be
present.
If any occurrence of FundCashForecastDetails is present,
then any occurrence of
FundOrSubFundDetails/PreviousTradeDateTime is not
allowed.
If any occurrence of FundCashForecastDetails is present,
then any occurrence of
FundOrSubFundDetails/TradeDateTime is not allowed.
If FundCashForecastDetails is not present, then at least one
occurrence of FundOrSubFundDetails/TradeDateTime must
be present.
If ExceptionalNetCashFlowIndicator is "true" or "1" (Yes) ,
then at least one or more of the following must be present:
BreakdownByParty/CashInForecast/ExceptionalCashFlowIndi
cator, or
BreakdownByParty/CashOutForecast/ExceptionalCashFlowIn
dicator, or
BreakdownByCountry/CashInForecast/ExceptionalCashFlowI
ndicator, or
BreakdownByCountry/CashOutForecast/ExceptionalCashFlo
wIndicator, or
BreakdownByCurrency/CashInForecast/ExceptionalCashFlow
Indicator, or
BreakdownByCurrency/CashOutForecast/ExceptionalCashFl
owIndicator, or
BreakdownByUserDefinedParameter/CashInForecast/Except
ionalCashFlowIndicator, or
BreakdownByUserDefinedParameter/CashOutForecast/Exce
ptionalCashFlowIndicator.
If Exceptional NetCashFlowIndicator is "true" or "1" (Yes) ,
then either
EstimatedCashInForecastDetails/ExceptionalCashFlowIndicat
or or
EstimatedCashOutForecastDetails/ExceptionalCashFlowIndic
ISO 20022 Investment Funds Maintenance 2015
Camt.042
EstimatedFundCash
ForecastDetails
(EstimatedFundCas
hForecast5)
ExceptionalCashFlowIndica
torRule
Camt.040,
041, 044
CashInForecast6
AdditionalBalanceRule
Camt.042,
043, 045
Cash In Forecast 5
AdditionalBalanceRule
Camt.040,
041, 044
CashOutForecast6
AdditionalBalanceRule
Document1
ashFlowIndicator, or both, must be present.
If ExceptionalNetCashFlowIndicator is "true" or
"1" (Yes) , then one of the following must be
present:
BreakdownByParty/CashInForecast/Exceptional
CashFlowIndicator, or
BreakdownByParty/CashOutForecast/Exception
alCashFlowIndicator, or
BreakdownByCountry/CashInForecast/Exception
alCashFlowIndicator, or
BreakdownByCountry/CashOutForecast/Excepti
onalCashFlowIndicator, or
BreakdownByCurrency/CashInForecast/Exceptio
nalCashFlowIndicator, or
BreakdownByCurrency/CashOutForecast/Except
ionalCashFlowIndicator, or
BreakdownByUserDefinedParameter/CashInFor
ecast/ExceptionalCashFlowIndicator, or
BreakdownByUserDefinedParameter/CashOutF
orecast/ExceptionalCashFlowIndicator.
If AdditionalBalance is present, then at least one
occurrence of
(AdditionalBalance/TotalUnitsFromUnitOrders,
AdditionalBalance/TotalUnitsFromCashOrders,
AdditionalBalance/TotalCashFromUnitOrders,
AdditionalBalance/TotalCashFromCashOrders)
must be present.
If AdditionalBalance is present, then at least one
occurrence of
(AdditionalBalance/TotalUnitsFromUnitOrders,
AdditionalBalance/TotalUnitsFromCashOrders,
AdditionalBalance/TotalCashFromUnitOrders,
AdditionalBalance/TotalCashFromCashOrders)
must be present.
If AdditionalBalance is present, then at least one
occurrence of
(AdditionalBalance/TotalUnitsFromUnitOrders,
AdditionalBalance/TotalUnitsFromCashOrders,
AdditionalBalance/TotalCashFromUnitOrders,
AdditionalBalance/TotalCashFromCashOrders)
must be present.
Produced by SWIFT 29 Oct 2014
168
ator must be present. Both may be present.
If ExceptionalNetCashFlowIndicator is "true" or "1" (Yes) ,
then at least one or more of the following must be present:
BreakdownByParty/CashInForecast/ExceptionalCashFlowIndi
cator, or
BreakdownByParty/CashOutForecast/ExceptionalCashFlowIn
dicator, or
BreakdownByCountry/CashInForecast/ExceptionalCashFlowI
ndicator, or
BreakdownByCountry/CashOutForecast/ExceptionalCashFlo
wIndicator, or
BreakdownByCurrency/CashInForecast/ExceptionalCashFlow
Indicator, or
BreakdownByCurrency/CashOutForecast/ExceptionalCashFl
owIndicator, or
BreakdownByUserDefinedParameter/CashInForecast/Except
ionalCashFlowIndicator, or
BreakdownByUserDefinedParameter/CashOutForecast/Exce
ptionalCashFlowIndicator.
If AdditionalBalance is present, then at least one or more
elements in the list
(AdditionalBalance/TotalUnitsFromUnitOrders,
AdditionalBalance/TotalUnitsFromCashOrders,
AdditionalBalance/TotalCashFromUnitOrders,
AdditionalBalance/TotalCashFromCashOrders) must be
present.
If AdditionalBalance is present, then at least one or more
elements in the list
(AdditionalBalance/TotalUnitsFromUnitOrders,
AdditionalBalance/TotalUnitsFromCashOrders,
AdditionalBalance/TotalCashFromUnitOrders,
AdditionalBalance/TotalCashFromCashOrders) must be
present.
If AdditionalBalance is present, then at least one or more
elements in the list
(AdditionalBalance/TotalUnitsFromUnitOrders,
AdditionalBalance/TotalUnitsFromCashOrders,
AdditionalBalance/TotalCashFromUnitOrders,
AdditionalBalance/TotalCashFromCashOrders) must be
present.
ISO 20022 Investment Funds Maintenance 2015
Camt.042,
043, 045
Document1
CashOutForecast5
AdditionalBalanceRule
If AdditionalBalance is present, then at least one
occurrence of
(AdditionalBalance/TotalUnitsFromUnitOrders,
AdditionalBalance/TotalUnitsFromCashOrders,
AdditionalBalance/TotalCashFromUnitOrders,
AdditionalBalance/TotalCashFromCashOrders)
must be present.
Produced by SWIFT 29 Oct 2014
169
If AdditionalBalance is present, then at least one or more
elements in the list
(AdditionalBalance/TotalUnitsFromUnitOrders,
AdditionalBalance/TotalUnitsFromCashOrders,
AdditionalBalance/TotalCashFromUnitOrders,
AdditionalBalance/TotalCashFromCashOrders) must be
present.
ISO 20022 Investment Funds Maintenance 2015
28 APPENDIX
28.1
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
28.1.1 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’. 17 October 2014 - this is overruled
28.2
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
Identification
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
Identification
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 Identification
Number
Tax Identification
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.
28.3
Indicia
Definitions
[1] distinctive markings
[2] postal markings often imprinted on main or on labels to be affixed to mail
28.4
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.
28.5
CR0441_SWIFT_Funds_camt_additional balances_v1.doc
Camt.040, 041, 042, 043, 044, 045
Generic Identification as the data type for ‘proprietary code’
For elements that are typed by a Code or Proprietary, it needs to be determined which Generic
Identification Component is to be used. In the past, we tried to be restrictive and use, for
example, Generic Identification 47 – however, this proved to be too restrictive for the account
management status report for the rejected reason and we had to change it to something less
restrictive.
For the datatype for Proprietary code, this can be:
[1]
very restrictive (Generic Identification 47, which is used a lot in sese and acmt messages
for 2013 and 2014 maintenance.
[2]
half restricted – for example Generic Identification 40
[3]
not restrictive at all, for example Generic Identification 29. This could be the safest
option.
Comments:
The decision on which ‘generic identification’ component to use is still outstanding (appendix 26.5). This
will be raised, by e-mail, as a subsequent item for the investment funds evaluation team.
To help the IF ET make a decision on this, this is what is used in the Settlement & Reconciliation
messages:
Message
Sese.023.001.04 (master)
Sequence
Trade Details
Sese.023.002.05 (subset)
Trade Details
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Element
Settlement Date / Date Code
Opening Closing
Reporting
Settlement Date / Date Code
Opening Closing
Reporting
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Generic Identification 20
Generic Identification 20
Generic Identification 20
Generic Identification 25
Generic Identification 25
Generic Identification 25
ISO 20022 Investment Funds Maintenance 2015
Thus in the ‘master’ and ‘subset’ messages, the Identification is restricted to exactly 4 characters.
However the ‘master’ has ‘lax’ issuer and schema name and the ‘subset’ is restricted to 4 characters.
TENTATIVE CONCLUSION (16 July 2014):
Funds should probably continue to use Generic Identification 47 for elements that are typed by a choice
of a code list or proprietary unless it is for a rejected status reason code. It is generally agreed that
rejected statuses tend to be handled manually and therefore there is a requirement for human readable
reason codes and Max 35 is desired, such as that implemented in the account management status report
acmt.006.001.04. which uses Generic Identification 29 and allows for Additional Reason Information
(see component Rejected Reason 16).
CONCLUSION 10 SEPTEMBER 2014
(Input received from GB & DE).
It should be either Generic Identification 47 or Generic Identification 40. Both only allow 4 characters for
the bilaterally-agreed code’. Generic Identification 47 only allows up 4 characters each for Issuer and
Scheme Name. Generic Identification 40 allow up to 35 characters for Issuer and Scheme Name. As the
component used in S & R MXs subsets only allows up to 4 characters each for Issuer and Scheme
Name, this suggests Funds should use Generic Identification 47:
The context in which Generic Identification 47 is to be used is that of expressing a bilaterally agreed
code.
END
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