| ISO20022

MT565 Scope

This message is sent by an account owner to an account servicer (account servicing institution). The account owner may be a global custodian which has an account with its local agent (sub custodian) or an investment management institution or a broker/dealer which has an account with their custodian.

This message is used to provide the custodian with instructions on how the account owner wishes to proceed with a corporate action event. Instructions include investment decisions regarding the exercise of rights issues, the election of stock or cash when the option is available, and decisions on the conversion or tendering of securities.

This message may also be used to:

request the cancellation of a previously sent corporate action instruction
re-send a corporate action instruction previously sent
provide a third party with a copy of the message

MT565 Format Specifications

Status	Tag	Qualifier	Generic Field Name	Detailed Field Name	Content/Options	No.
Mandatory Sequence A General Information
M	16R			Start of Block	GENL	1
----->
M	20C	4!c	Reference	(see qualifier description)	:4!c//16x	2
-----\|
M	23G			Function of the Message	4!c[/4!c]	3
M	22F	CAEV	Indicator	Corporate Action Event Indicator	:4!c/[8c]/4!c	4
O	98a	PREP	Date/Time	Preparation Date/Time	A, C, or E	5
-----> Optional Repetitive Subsequence A1 Linkages
M	16R			Start of Block	LINK	6
O	22F	LINK	Indicator	Linkage Type Indicator	:4!c/[8c]/4!c	7
O	13a	LINK	Number Identification	Linked Message	A or B	8
M	20C	4!c	Reference	(see qualifier description)	:4!c//16x	9
M	16S			End of Block	LINK	10
-----\| End of Subsequence A1 Linkages
M	16S			End of Block	GENL	11
End of Sequence A General Information
Mandatory Sequence B Underlying Securities
M	16R			Start of Block	USECU	12
O	35B			Identification of the Financial Instrument	[ISIN1!e12!c] [4*35x]	13
Optional Subsequence B1 Financial Instrument Attributes
M	16R			Start of Block	FIA	14
O	94B	PLIS	Place	Place of Listing	:4!c/[8c]/4!c[/30x]	15
O	22F	MICO	Indicator	Method of Interest Computation Indicator	:4!c/[8c]/4!c	16
O	12a	CLAS	Type of Financial Instrument	Classification Type	A or C	17
O	11A	DENO	Currency	Currency of Denomination	:4!c//3!a	18
----->
O	98A	4!c	Date/Time	(see qualifier description)	:4!c//8!n	19
-----\|
----->
O	92A	4!c	Rate	(see qualifier description)	:4!c//[N]15d	20
-----\|
----->
O	36a	4!c	Quantity of Financial Instrument	(see qualifier description)	B or D	21
-----\|
M	16S			End of Block	FIA	22
End of Subsequence B1 Financial Instrument Attributes
Mandatory Subsequence B2 Account Information
M	16R			Start of Block	ACCTINFO	23
O	95a	ACOW	Party	Account Owner	P or R	24
M	97a	4!c	Account	(see qualifier description)	A or D	25
O	94a	SAFE	Place	Place of Safekeeping	B, C, or F	26
----->
O	93a	4!c	Balance	(see qualifier description)	B, C, E, or F	27
-----\|
M	16S			End of Block	ACCTINFO	28
End of Subsequence B2 Account Information
M	16S			End of Block	USECU	29
End of Sequence B Underlying Securities
-----> Optional Repetitive Sequence C Beneficial Owner Details
M	16R			Start of Block	BENODET	30
----->
M	95a	4!c	Party	(see qualifier description)	L, P, R, S, or V	31
-----\|
----->
O	94C	4!c	Place	(see qualifier description)	:4!c//2!a	32
-----\|
M	36a	OWND	Quantity of Financial Instrument	Quantity of Securities Owned	B or D	33
----->
O	22F	CETI	Indicator	Certification Type Indicator	:4!c/[8c]/4!c	34
-----\|
----->
O	70a	CETI	Narrative	Certification/Breakdown Narrative	E or G	35
-----\|
O	92a	TAXR	Rate	Withholding Tax Rate	A, F, or K	36
M	16S			End of Block	BENODET	37
-----\| End of Sequence C Beneficial Owner Details
Mandatory Sequence D Corporate Action Instruction
M	16R			Start of Block	CAINST	38
M	13A	CAON	Number Identification	CA Option Number	:4!c//3!c	39
----->
M	22a	4!c	Indicator	(see qualifier description)	F or H	40
-----\|
----->
O	11A	4!c	Currency	(see qualifier description)	:4!c//3!a	41
-----\|
O	35B			Identification of the Financial Instrument	[ISIN1!e12!c] [4*35x]	42
----->
O	36a	4!c	Quantity of Financial Instrument	(see qualifier description)	B, C, or D	43
-----\|
O	19B	QCAS	Amount	Instructed Amount	:4!c//3!a15d	44
O	98a	EXRQ	Date/Time	Execution Requested Date/Time	A, C, or E	45
----->
O	92a	4!c	Rate	(see qualifier description)	A, F, or R	46
-----\|
----->
O	90a	4!c	Price	(see qualifier description)	A, B, E, F, J, or L	47
-----\|
O	20D	SHAR	Reference	Shareholder Number	:4!c//25x	48
O	17B	SODF	Flag	Solicitation Dealer Fee Indicator	:4!c//1!a	49
----->
O	70E	4!c	Narrative	(see qualifier description)	:4!c//10*35x	50
-----\|
M	16S			End of Block	CAINST	51
End of Sequence D Corporate Action Instruction
Optional Sequence E Additional Information
M	16R			Start of Block	ADDINFO	52
----->
O	70E	4!c	Narrative	(see qualifier description)	:4!c//10*35x	53
-----\|
----->
O	95a	4!c	Party	(see qualifier description)	P, Q, or R	54
-----\|
M	16S			End of Block	ADDINFO	55
End of Sequence E Additional Information

MT565 Network Validated Rules

C1 If the message is a cancellation, that is, Function of the Message (field 23G) is CANC, then subsequence A1 (Linkages) must be present at least once in the message, and in one and only one occurrence of A1, field :20C::PREV must be present; consequently, in all other occurrences of A1, field :20C::PREV is not allowed.

Sequence A if field :23G: is ...	Then subsequence A1 is ...	And field :20C::PREV is ...
CANC	Mandatory (minimum one occurrence of A1 must be present)	Mandatory in one occurrence of subsequence A1, and not allowed in all other occurrences of subsequence A1
NEWM	Optional	Not applicable

Sequence A

if field :23G: is ...

Then subsequence A1 is ...

And field :20C::PREV is ...

CANC

Mandatory (minimum one occurrence of A1 must be present)

Mandatory in one occurrence of subsequence A1, and not allowed in all other occurrences of subsequence A1

NEWM

Optional

Not applicable

C2 In sequence D, if field :22F::CAOP//SPLI is present, then field :70E::INST is mandatory in the same sequence.

Sequence D
if field :22F::CAOP//SPLI is ... ⁽¹⁾

Then field :70E::INST is ...

Present

Mandatory (that is minimum one occurrence)

Not present

Optional

⁽¹⁾ if Data Source Scheme is present in field :22F::CAOP//SPLI then the conditional rule does not apply.

Sequence D if field :22F::CAOP//SPLI is ... ⁽¹⁾	Then field :70E::INST is ...
Present	Mandatory (that is minimum one occurrence)
Not present	Optional

C3 In subsequence B2, field :93B::ELIG cannot appear more than twice (maximum two occurrences). When repeated, one occurrence must have Quantity Type Code FAMT and the other occurrence must have Quantity Type Code AMOR.

Subsequence B2 if field :93B::ELIG is ...	Then one occurrence of :93B::ELIG must be ...	And the other occurrence of :93B::ELIG must be ...
Repeated	:93B::ELIG//FAMT and DSS must not be present	:93B::ELIG//AMOR and DSS must not be present
Not repeated	Not applicable	Not applicable

Subsequence B2

if field :93B::ELIG is ...

Then one occurrence of :93B::ELIG must be ...

And the other occurrence of :93B::ELIG must be ...

Repeated

:93B::ELIG//FAMT and DSS must not be present

:93B::ELIG//AMOR and DSS must not be present

Not repeated

Not applicable

Note

When used with format option F, field 93a qualifier ELIG cannot be repeated.

C4 In sequence D, field :36a::QINS cannot appear more than twice (maximum two occurrences). When repeated, one occurrence must have Quantity Type Code FAMT and the other occurrence must have Quantity Type Code AMOR.

Sequence D if field :36a::QINS is ...	Then one occurrence of :36a::QINS must be ...	And the other occurrence of :36a::QINS must be ...
Repeated	:36B::QINS//FAMT	:36B::QINS//AMOR
Not repeated	Not applicable	Not applicable

Sequence D

if field :36a::QINS is ...

Then one occurrence of :36a::QINS must be ...

And the other occurrence of :36a::QINS must be ...

Repeated

:36B::QINS//FAMT

:36B::QINS//AMOR

Not repeated

Not applicable

C5 In sequence D, if field :36a::QINS is present, then field :19B::QCAS is not allowed and if field :36a::QINS is not present, then field :19B::QCAS is mandatory.

Sequence D
if field :36a::QINS is ...

then field :19B::QCAS is ...

Present

Not allowed

Not present

Mandatory
C6 In each occurrence of sequence C:
- Field :95L::OWND must not be present more than once.
- Field :95P::OWND must not be present more than once.
- Field :95R::OWND must not be present more than once.
- Field :95S::OWND must not be present more than once.
- Field :95V::OWND must not be present more than once.
And only one of the following fields :95P::OWND or :95R::OWND or :95S::OWND or :95V::OWND must be present.
Field :95L::OWND may be present only if one of the fields :95P::OWND or :95R::OWND or :95S::OWND or :95V::OWND is present.
C7 In sequence D, if field :36a::RDUQ is present, then field :36a::QINS is mandatory in the same sequence.

Sequence D
if field :36a::RDUQ is ...

Then field:36a::QINS is ...

Present

Mandatory

Not present

Optional
C8 In sequence D, if field :22F::CAOP//BOBD is present, then in sequence A field :22F::CAEV//WTRC must be present in the message.

Sequence D
if field :22F::CAOP//BOBD is ... ⁽¹⁾

Then in sequence A,
field :22F::CAEV//WTRC is ...

Present

Mandatory

Not present

Not applicable

⁽¹⁾ if the Data Source Scheme is present in field :22F::CAOP, then the conditional rule does not apply.

Sequence D if field :36a::QINS is ...	then field :19B::QCAS is ...
Present	Not allowed
Not present	Mandatory

Sequence D if field :36a::RDUQ is ...	Then field:36a::QINS is ...
Present	Mandatory
Not present	Optional

Sequence D if field :22F::CAOP//BOBD is ... ⁽¹⁾	Then in sequence A, field :22F::CAEV//WTRC is ...
Present	Mandatory
Not present	Not applicable

MT565 Usage Rules

Sequence Financial Instrument Attribute (FIA) is intended to provide additional information regarding the terms and conditions of a securities issue. The objective of the sequence FIA is to ensure unambiguous identification of the security by the Receiver. It is recommended that the sequence FIA not be used unless required by a specific corporate action event, pursuant to a bilateral agreement, or when a valid ISIN or security identifier is not available.
Field 11A Currency in sequence D Corporate Action Instruction provides an instruction to the account servicer to execute a forex deal on behalf of the account owner. The purpose of the forex deal is to fund an investment decision or to repatriate proceeds at the completion of a transaction. This field is not to be used when standing instructions have been established. The use of a forex instruction implies the following:
- the currency required for funding a purchase of securities, for example, the currency to be purchased, is indicated by the settlement currency of the transaction. The currency to be sold to obtain settlement currency is indicated by the qualifier FXIS. Normally, this will be the base currency of the portfolio.
- the currency received as proceeds from the sale of securities, for example, the currency to be sold, is indicated within the transaction details. Therefore, the currency to be bought must be indicated by the qualifier FXIB. If proceeds are repatriated, this will be the base currency of the portfolio.
- the amount of currency to be bought/sold is equal to the settlement amount of the transaction. Thus the forex instruction must not be used for other transactions; a bulk forex deal must be instructed by other means.
- a forex deal to fund the purchase of securities should be executed in time for the currency to be available on the settlement date of the securities transaction. A forex deal to repatriate proceeds after the sale of securities should be executed for the soonest possible value date after settlement of the securities, as permitted by market convention.
- a bilateral agreement regarding the use of this field has been established.