Clearstream Banking SA

09/24/2021 | Press release | Distributed by Public on 09/24/2021 08:27

ISO 20022 rollout for general meetings - Update

ISO 20022 rollout for general meetings - Update

24.09.2021

Note: This announcement originally published on 17 June 2021 and updated on 12 August and 21 September 2021, has been further updated with information on the customer impact for RMA and DN Set Up and Power of Attorney (PoA) approach, including respective Templates.Changes have been highlighted.

As part of our regular communications, and further to announcement C20019, Clearstream Banking1 would like to inform customers about the ongoing activities regarding ISO 20022 rollout for General Meeting (GM). The implementation of ISO 20022 messaging format for all GM messages is scheduled to go live and replace the existing ISO 15022 messaging information on

22 November 20212

Background

Clearstream Banking's GM messages will be upgraded to ISO 20022. All GM messages will be exclusively based on ISO 20022 format, being the only endorsed ISO format. Following this strategy, Clearstream Banking asks customers to consider the Clearstream SWIFT User Guide for General Meetings ISO 20022.

The dedicated Clearstream ISO 20022 SWIFT User Guide will describe the message specifications for the below listed messages:

MessageDefinition

Abbreviated Name

Message Identifier

MeetingNotification

MENO

seev.001.001.08

MeetingCancellation

MECN

seev.002.001.07

MeetingEntitlementNotification

MENT

seev.003.001.07

MeetingInstruction

MEIN

seev.004.001.07

MeetingInstructionCancellationRequest

MEIC

seev.005.001.07

MeetingInstructionStatus

MEIS

seev.006.001.07

MeetingVoteExecutionConfirmation

MECO

seev.007.001.07

MeetingResultDisseminationa

MERD

seev.008.001.07

a. If received from agent.

Impact on customers

All customers must prepare to receive GM messages and instruct in ISO 20022 as of 22 November 2021. The subscription will be possible via the below mentioned connectivity channels as of October 2021.

The existing ISO 15022 messages for GM will be decommissioned (messages regarding corporate actions other than general meetings will remain). This incorporates the following messages:

  • MT564 - Meeting Event Notification
  • MT565 - Corporate Action Instruction
  • MT567 - Corporate Action Status and Processing Advice
  • MT568 - Corporate Action Narrative
  • MT599 - Free-Format Message

Transition: Clearstream will not cancel meeting notifications that have been sent in ISO 15022 format before launch date. Customers have to instruct for these events still in ISO 15022.

Customers should be aware that due to the change of formats, General Meeting events will no longer be part of the Urgent Uninstructed Balance report and of the Corporate Action Reference Data report.

All currently received MT564 messages for GM will be unsubscribed by default.

The KVGI customer online GUI will be switched off for GM events.

ISO 20022 connectivity solutions available to customers

SWIFTNet FINPlus

Customers who want to exchange ISO 20022 messages via SWIFTNet FINplus, must ensure the following:

  • SWIFT FINplus service is in place;
  • Relationship Management Applications (RMAs) are exchanged with Clearstream Banking S.A. and/or Clearstream Banking AG;
  • Communicate the Distinguished Name (DN) and the list of accounts that mustbe linked accordingly via SWIFT message MT599 and via email to [email protected]; The MT599 must contain following content:
    • To the attention of PRGConnect;
    • Please link the DN XXXXXXXXXXXX to the following accounts: xxxx, xxxx …
    • Contact details: (Name, Email and Phone Number);
  • Once the above is completed, customers are requested to schedule the related reports in Xact Web Portal (customers should refer to the Xact Web Portal - User Manual for the scheduling instruction);
  • Established customer Power of Attorney (PoA) will be extended by Clearstream Banking to cover ISO 20022.
  • Note: On 22 October 2021 Clearstream Banking will allow customers to subscribe the new ISO 20022 message in Xact Web Portal with activation date of 22 November 2021. The setup of RMA and DN's has to be completed by this date and the communication channel must be available in Xact Web Portal to be selectable.

Clearstream Banking strongly recommends that customers manage their report subscriptions directly via Xact Web Portal.

Customers that need to request the report set up via MT599 and Email to [email protected] are advised to send the request up until cutover on 12 November 2021. After this date, requests will be processed on a best effort basis.

New Meeting Event Subdomainin Xact Web Portal

If a customer is only using Xact Web Portal, neither an RMA nor a DN exchange with Clearstram Banking is required.

To support the new formats, Clearstream will implement a Meeting Event Subdomainin the Xact Web Portal allowing customers to receive ISO 20022 notifications and send instructions. As of the implementation date, customers can provide instructions via an upload functionality, using CA Instruction File Upload.The full GUI delivery will follow at a later stage.

This new subdomainwill be available to all customers with accounts in Clearstream Banking S.A. (CBL) or Clearstream Banking AG (CBF) that have access to Asset Services through the Xact Web Portal. Access to the new module must be granted by an OU Administrator to the users who will be in charge of processing meeting events.

If customers would like to receive XML reports using their "Xact File Transfer via Internet" connectivity, they can schedule the report in Xact Web Portal.

For details regarding Meeting Events and related new functionalities on the Xact Web Portal, customers should refer to Announcement C21047.

Further information

For further information please contact [email protected] or the Clearstream Connectivity Helpdesk.

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1. This Announcement is published by Clearstream Banking AG (CBF), registered office at Mergenthalerallee 61, 65760 Eschborn, Germany, registered with the Commercial Register of the District Court in Frankfurt am Main, Germany, under number HRB 7500.

2. A letter was sent to the European Commission on 9 April 2020, co-signed by 11 industry associations, to request a 12-month postponement of the SRD II Implementation Regulation deadline. This request has been rejected by the European Commission.