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The Bank of Tokyo-Mitsubishi, Ltd. Global Securities Services Division
CCuussttooddyy NNeewwssffllaasshh
=============================================================== The information contained herein has been derived from several sources believed to be reliable at the time of publication.
March 2, 2005
BTM Overview of SWIFT Standard Release 2005
================================================================== Category Custody Presentation and BTM announcements Summary BTM will implement changes to SWIFT messages in line with SWIFT
Standard Release 2005. Impact High. Clients need to send and receive messages in line with SR2005 Actions Clients are requested to check that their implementation will be in line
with SR2005, and note the BTM changes. ==================================================================
Details
As you may be well aware, SWIFT SR2005 will be released on 14th May. BTM will change our system in line with the standard release. We have outlined the changes in ‘BTM Overview of SWIFT SR2005(Settlement and Reconciliations)’ and ‘BTM Overview of Swift SR2005 (Corporate Actions)’. We inform you the outlines of our implemented changes. 1 .Settlement and Reconciliation Th e change which may be of biggest impact to our clients is that PSET will be ma ndatory (unless STCO//DBNM is utilized). Clients are requested to make sure that PSET is included in their settlement instructions via MT540-543. However, while it will be mandatory, actual settlement will be executed in accordance with Market Practice, regardless of the Place of Settlement indicated in each instruction, and indicating incorrect PSET will not be a fail reason. Another change will be in the indication of sub-balance of MT535. As TAVI has been deleted, it will be replaced by NOMI, and will be used to indicate both JASDEC balances and physical shares in our client’s own name. 2.Corporate Actions The new code word ‘NBLT’(new board lot quantity) and ‘Name’(new name of a company following a name change) will be used in MT564. Currently, BTM utilizes Sequence F for notifying above information, however, as these new code words will be used of MT564, Sequence F will not be utilized any longer. According to the consistency with SMPG agreement, the negative sign ‘N’ for the code word ‘WITL’ (withholding tax) and ‘CHAR’ (charge) in current MT564 and
Although having made every effort to ensure the accuracy of the contents, The Bank of Tokyo-Mitsubishi does not assume any liability for losses either direct or consequential caused by the use of this information. Copyright 2003 The Bank of Tokyo-Mitsubishi, Ltd. Page 1 of 2
The Bank of Tokyo-Mitsubishi, Ltd. Global Securities Services Division
CCuussttooddyy NNeewwssffllaasshh
=============================================================== The information contained herein has been derived from several sources believed to be reliable at the time of publication.
MT566 will be deleted. P lease refer to the attached documents for details. Should you have any inquires, please feel free to contact us. Global Securities Services Division, Bank of Tokyo-Mitsubishi Past Newsflash issues are available at the BTM Yen Custody Website; http://www.btm.co.jp/custody/. The site is dedicated to our clients, and accessible only with “ID” and “Password”. Should you require them, please contact us.
Although having made every effort to ensure the accuracy of the contents, The Bank of Tokyo-Mitsubishi does not assume any liability for losses either direct or consequential caused by the use of this information. Copyright 2003 The Bank of Tokyo-Mitsubishi, Ltd. Page 2 of 2
BTM Overview of SWIFT SR2005
(Settlement and Reconciliation)
Index
1 Settlement Instructions to BTM............................................................... 2 1.1 Summary ............................................................................................. 2 1.2 PSET recommendation ....................................................................... 2 1.3 Settlement Instruction template .......................................................... 2 1.4 Examples............................................................................................. 5
2 Messages from BTM................................................................................ 7 2.1 Summary ............................................................................................. 7 2.1.1 MT544-547 .................................................................................... 7 2.1.2 MT508/538 .................................................................................... 7 2.1.3 MT535............................................................................................ 8 2.1.4 MT536............................................................................................ 8 2.1.5 MT537/548 .................................................................................... 8
1
1 Settlement Instructions to BTM
1.1 Summary
Sequence Tag Qualifier BTM usage
E Settlement Details 22F LEOG If you override L/G default status in settlement of public offering,
this qualifier is required.
E1 Settlement Parties 95P PSET As for data field pease refer to 1.2 PSET recommendation.
1.2 PSET recommendation
PSET is mandatory unless STCO//DBNM is utilized. Below table shows recommendation for PSET. Incorrect PSET will be disregarded
and will not disturb our STP. We will execute settlement in accordance with Market Practice in Japan. Any instruction won't fail due to incorrect PSET as we override PSET in accordance with market practice in Japan.
Type of Securities PSET recommendation Equity JJSDJPJ1XXX Japanese Government Bond BOJPJPJTXXX Convertible Bond JJSDJPJ1XXX
1.3 Settlement Instruction template
Field Qualifier Definition Qualifiers
and codes
Swift
O/M
BTM
mandatory
SR2005 notes
Mandatory Sequence A - General Information
16R GENL Start of Sequence GENL M M
20C SEME Sender's Reference Number M M
23G Function of the Message PREA M C Agreement is required in using PREA
NEWM or M
CANC or or
Repetitive Mandatory Subsequence A1 - Linkages
16R LINK Start of Subsequence LINK M M
22F LINK Linkage Type Indicator AFTE O CM Unless Linkage indicator is used for all
2
Field Qualifier Definition Qualifiers
and codes
Swift
O/M
BTM
mandatory
SR2005 notes
BEFO CM
INFO
WITH CM
likned transactions and if such information
is notified in a narrative field, correct
settlement might not be guaranteed.
13a LINK Linked Message O
20C POOL M
PREV or CM In case of using a linkage indicator PREV is
required.
RELA or
TRRF or
COMM or
COLR or
16S LINK End of Subsequence LINK M M
16S GENL End of Sequence GENL M M
Mandatory Sequence B - Trade Details
16R TRADDET Start of Sequence TRADDET M M
98a SETT M M
If the designated date falls on a national
holiday in Japan we treat the following
business day as the settlement date without
notification.
TRAD O M
35B Identification of the Financial
Instrument M M
16S TRADDET End of Sequence FIA M
Repetitive Mandatory Sequence C - Financial Instrument/Account
16R FIAC Start of Sequence FIAC M M
36B SETT Quantity of Financial Instrument M M
97a Account SAFE M M Your safekeeping account with us
16S FIAC End of Sequence FIAC M
Mandatory Sequence E - Settlement Details
16R SETDET Start of Settlement Details Sequence SETDET M M
22F Indicator STCO O CM JGB tax exempt customer only: In selling
taxable JGB STCO//DIRT is required.
SETR M M
REGT O CM If registration condition is to be overriden,
3
Field Qualifier Definition Qualifiers
and codes
Swift
O/M
BTM
mandatory
SR2005 notes
this field must be submitted.
DBNM O CM Please refer to PSET recommendation.
LEOG O CM ★
If you override L/G default status in
settlement of public offering, this qualifier
is required.
Mandatory Subsequence E1 Settlement Parties
16R SETPRTY Start of Subsequence SETPRTY M M
95a Party BUYR M M
DEAG or
DECU or
DEI1 or
DEI2 or
DEI3 or
DEI4 or
DEI5 or
DEI6 or
DEI7 or
DEI8 or
(This template shows Subsequence of
MT542/3)
Other than REAG party sequences including
a client of REAG should be presented with
97A.
(MT540/541)
On the contrary to delivering instructions,
DEAG plus at least one party should be
generated.
DEI9 or
PSET or CM ★ Please refer to 1.2 PSET recommendation.
REAG or M
RECU or
REI1 or
REI2 or
REI3 or
REI4 or
REI5 or
REI6 or
REI7 or
REI8 or
REI9 or
SELL or
97a SAFE Safekeeping Account SAFE O M An owner's account number with REAG is
required for matching information.
4
Field Qualifier Definition Qualifiers
and codes
Swift
O/M
BTM
mandatory
SR2005 notes
16S SETPRTY End of Subsequence SETPRTY M M
Optional Subsequence E3 Amounts
16R AMT Start of Subsequence AMT M M
SETT M M
16S AMT End of Subsequence AMT M M
16S SETDET End of Sequence SETDET M M
1.4 Examples
:16R:GENL
:20C::SEME//123456789
:23G:NEWM
:16S:GENL
:16R:TRADDET
:98A::TRAD//20040117
:98A::SETT//20040120
:35B:ISIN JP3788600008
HITACHI
:16S:TRADDET
:16R:FIAC
:36B::SETT//UNIT/4000,
:97A::SAFE//0100999999
:16S:FIAC
:16R:SETDET
:22F::SETR//TRAD
:16R:SETPRTY
:95P::BUYR//EFGHGB2L
:97A::SAFE//ABCD9999
:16S:SETPRTY
:16R:SETPRTY
:95P::REAG//ABCDPJT
:16S:SETPRTY
MT543 new instruction
cancellation request for
:16R:GENL
:20C::SEME//CANC123456789
:23G:CANC
:16R:LINK
:20C::PREV//123456789
:16S:LINK
:16S:GENL
:16R:TRADDET
:98A::TRAD//20040117
:98A::SETT//20040120
:35B:ISIN JP3788600008
HITACHI
:16S:TRADDET
:16R:FIAC
:36B::SETT//UNIT/4000,
:97A::SAFE//0100999999
:16S:FIAC
:16R:SETDET
:22F::SETR//TRAD
:16R:SETPRTY
:95P::BUYR//EFGHGB2L
:97A::SAFE//ABCD9999
:16S:SETPRTY
SEME123456789
5
:16R:SETPRTY :16R:SETPRTY
:95P::PSET//JJSDJPJ1 :95P::REAG//ABCDPJT
:16S:SETPRTY :16S:SETPRTY
:16R:AMT :16R:SETPRTY
:19A::SETT//JPY1798920, :95P::PSET//JJSDJPJ1
:16S:AMT :16S:SETPRTY
:16S:SETDET :16R:AMT
:19A::SETT//JPY1798920,
:16S:AMT
:16S:SETDET
6
:16R:GENL :16R:GENL
:20C::SEME//LINK12345 :20C::SEME//LINK23456
:23G:NEWM :23G:NEWM
:16R:LINK :16R:LINK
:22F::LINK//WITH :22F::LINK//WITH
:13A::LINK//543 :13A::LINK//541
:20C::PREV//LINK23456 :20C::PREV//LINK12345
:16S:LINK :16S:LINK
:16S:GENL :16S:GENL
:16R:TRADDET :16R:TRADDET
:98A::TRAD//20040117 :98A::TRAD//20040117
:98A::SETT//20040120 :98A::SETT//20040120
:35B:ISIN JP3788600008 :35B:ISIN JP3788600008
HITACHI HITACHI
:16S:TRADDET :16S:TRADDET
:16R:FIAC :16R:FIAC
:36B::SETT//UNIT/4000, :36B::SETT//UNIT/4000,
:97A::SAFE//0100999999 :97A::SAFE//0100999999
:16S:FIAC :16S:FIAC
:16R:SETDET :16R:SETDET
:22F::SETR//TRAD :22F::SETR//TRAD
:16R:SETPRTY :16R:SETPRTY
:95P::SELL//XYZZUS33 :95P::BUYR//EFGHGB2L
another new instruction with
linkage indicator
new instruction with linkage
indicator
:97A::SAFE//XYZZ-1335 :95P::REAG//ABCDPJT
:16S:SETPRTY :16S:SETPRTY
:16R:SETPRTY :16R:SETPRTY
:95P::DEAG//XYZZJPJT :95P::REAG//ABCDPJT
:16S:SETPRTY :16S:SETPRTY
:16R:SETPRTY :16R:SETPRTY
:95P::PSET//JJSDJPJ1 :95P::PSET//JJSDJPJ1
:16S:SETPRTY :16S:SETPRTY
:16R:AMT :16R:AMT
:19A::SETT//JPY1798920, :19A::SETT//JPY1824625,
:16S:AMT :16S:AMT
:16S:SETDET :16S:SETDET
2 Messages from BTM
2.1 Summary
2.1.1 MT544-547 Corresponding Sequence: Mandatory Subsequence E1 Settlement Parties
Modification
Qualifier/codes sequence field
current SR2005modification reason BTM usage
E1 95a - PSET Field mandatory Actual place of settlement is generated. Please
refer BTM PSET usage table.
2.1.2 MT508/538
Corresponding Sequence MT508: Mandatory Sequence B Intra-Position Details MT538: Repetitive Mandatory Subsequence B1 Sub-Balance
7
Modification
Qualifier/codes field
current SR2005 modification reason BTM usage
STRE SPOS SWIFT standards-led
consistency between MTs
Street name position. 93A
RGIS REGO SWIFT standards-led
consistency between MTs
Out for registration position.
2.1.3 MT535 Corresponding Sequence: Optional Subsequence B1b Sub-Balance
Modification
Qualifier/codes field
current SR2005 modification reason BTM usage
TAVI NOMI due to deletion of TAVI TAVI is to be substituted by NOMI. 93C AVAI NAVL to avoid confusion
considering the current
market practice.
Availability code of public offer shares in Letter
of Guarantee form is changed to NAVL.
2.1.4 MT536
Corresponding Sequence: Optional Subsequence B1a2a Settlement Parties
Modification Qualifier/codes
field current SR2005
modification reason BTM usage
95a - PSET stemmed from PSET usage
in confirmation.
Actual place of settlement is generated as
MT544-547.
2.1.5 MT537/548
Corresponding Sequence MT537: Optional Subsequence B1 Reason and Optional Subsequence C3 Status MT548: Optional Subsequence A2a Reason
8
Modification Qualifier/codes
field current SR2005
modification reason BTM usage
NARR SETS new code created Against payment JGB only. Disagreement of
DVP/non DVP.
NARR TXST new code created JGB only. Disagreement of tax staus.
24B:NMAT
NARR LEOG new code created
New issues only. Disagreement of L/G
acceptance.
NARR DKNY definition changed Counterparty refuses to receive securities. 24B:PENF
NARR MLAT definition changed In case of MT541 instruction money too late for
settlement, and for MT542/3 securities too late.
9
BTM Overview of SWIFT SR2005 (Corporate Actions)
Index
1 Summary...............................................................................................................................2 1.1 MT564 .............................................................................................................................2 1.2 MT566 .............................................................................................................................2
2 Message Examples ..............................................................................................................3 2.1 MT564-1 (Board Lot Change).....................................................................................3 2.2 MT564-2 (Name Change)............................................................................................4 2.3 MT564-3 (Cash Dividend) ...........................................................................................5 2.4 MT566-1 (Interest Payment) ........................................................................................6 2.5 MT566-2 (Odd Lot Sale) ..............................................................................................7 2.6 MT566-3..........................................................................................................................8
1
Outbound Messages from BTM
1 Summary
1.1 MT564
Message contents will be modified as per following table.
Sequence Field current SR2005 modification reason impacted
CA event notes example
D 36B Sequence F
ADTX
NBLT new code created CHAN Sequence F will not be generated any longer
in notifying board lot change.
MT564-1
D 70E Sequence F
ADTX
NAME new code created NAME Sequence F will not be generated any longer. MT564-2
DVCA
INTR
REDM
DRAW
MCAL
BONU
SPLR
MRGR
SPLF
E 13A optional mandatory field mandatory
PARI
Corporate Option number is always 001 for
the impacted events.
MT564-3
DVCA E2 19A negative sign
for WITL
(deleted) consistency with SMPG
agreement INTR
MT564-3
1.2 MT566
Following modifications are implemented.
Sequence Field current SR2005 modification reason impacted
CA event notes example
A 25D PROC (deleted) deletion of the field all MT566-1
DVCA
INTR
REDM
DRAW
MCAL
D 13A optional mandatory field mandatory
BONU
Corporate Option number is always 001 for
the impacted events.
MT566-1
2
Sequence Field current SR2005 modification reason impacted
CA event notes example
SPLR
MRGR
SPLF
PARI
ODSL
DVCA
INTR
CONV
EXWA
ODSL
D2 19A negative sign
for WITL or
CHAR
deleted consistency with SMPG
agreement
TEND
MT566-2
E 70E TXNR ADTX usage rule changed BONU MT566-3
2 Message examples
2.1 MT564-1
Board Lot Change SR2005
Mandatory Sequence A General Information
:16R:GENL :20C::CORP//CHAN008404000023 :20C::SEME//ZL02031500000001 :23G:NEWM :22F::CAEV//CHAN :22F::CAMV//MAND :98A::PREP//20050117 :25D::PROC//COMP :16S:GENL Mandatory Sequence B Underlying Securities
:16R:USECU :35B: ISIN JP39XX800000 XYZ CORPORATION
Repetitive Mandatory Subsequence B2 Account Information
:16R:ACCTINFO :97A::SAFE//0100999999 :93B::ELIG//UNIT/200000, :16S:ACCTINFO
3
:16S:USECU Optional Sequence D Corporate Action Details
:16R:CADETL :98A::EFFD//20050401
:36B::NBLT//UNIT/100, ★
:16S:CADETL
2.2 MT564-2 Name Change SR2005
Mandatory Sequence A General Information
:16R:GENL
:20C::CORP//NAME008404000022
:20C::SEME//ZJ02022000000001
:23G:NEWM
:22F::CAEV//NAME ★
:22F::CAMV//MAND
:98A::PREP//20050117
:25D::PROC//COMP
:16S:GENL
Mandatory Sequence B Underlying Securities
:16R:USECU
:35B: ISIN JP3932800000
Repetitive Mandatory Subsequence B2 Account Information
:16R:ACCTINFO
:97A::SAFE//0100999999
:93B::ELIG//UNIT/200000,
:16S:ACCTINFO
:16S:USECU
Optional Sequence D Corporate Action Details
:16R:CADETL
:98A::EFFD//20050401
:70E::NAME//COMPANY NAME CHANGES TO MIZUHO ASSET TRUST + BANKING CO. ISIN CODE REMAINS UNCHANGED.
★
:16S:CADETL
4
2.3 MT564-3
Cash Dividend SR2005
Mandatory Sequence A General Information
:16R:GENL
:20C::CORP//DVCA675800000013
:20C::SEME//ZA01020100000001
:23G:NEWM
:22F::CAEV//DVCA
:22F::CAMV//MAND
:98A::PREP//20050117
:25D::PROC//COMP
:16S:GENL
Mandatory Sequence B Underlying Securities
:16R:USECU
:35B:ISIN JP3435000009 SONY Corporation
Repetitive Mandatory Subsequence B2 Account Information
:16R:ACCTINFO
:97A::SAFE//01001999999
:93B::ELIG//UNIT/100,
:93C::SPOS//UNIT/NELG/100,
:16S:ACCTINFO
:16S:USECU
Optional Sequence D Corporate Action Details
:16R:CADETL
:98A::XDTE//20041227
:98A::PAYD//20050214
:98A::RDTE//20041230
:92F::GRSS//JPY50,
:92A::TAXR//10,
:16S:CADETL
Repetitive Optional Sequence E Corporate Action Options
:16R:CAOPTN
:13A::CAON//001 ★
:22F::CAOP//CASH
:11A::OPTN//JPY
:17B::DFLT//Y
Repetitive Optional Subsequence E2 Cash Movements
:16R:CASHMOVE
5
:22H::CRDB//CRED
:97A::CASH//0037062
:19A::ENTL//JPY4500,
:19A::GRSS//JPY5000,
:19A::NETT//JPY4500,
:19A::WITL//JPY500, ★
:98A::PAYD//20010628
:98A::VALU//20010628
:16S:CASHMOVE
:16S:CAOPTN
2.4 MT566-1
Interest Payment SR2005
Mandatory Sequence A General Information
:16R:GENL
:20C::CORP//INTR606758000013
:20C::SEME//XB01031300000001
:23G:NEWM
:22F::CAEV//INTR
:98A::PREP//20010313
Repetitive Optional Subsequence A1 Linkages
:16R:LINK
:13A::LINK//566
:20C::PREV//XB01022000000001
:16S:LINK
:16S:GENL
Mandatory Sequence B Underlying Securities
:16R:USECU
:97A::SAFE//0100502101
:35B:ISIN JP343500A092 SONY CORPORATION BOND NO.8
:93B::ELIG//FAMT/100000000,
:16S:USECU
Optional Sequence C Corporate Action Details
:16R:CADETL
:98A::PAYD//20041230
:98A::RDTE//20041215
:92A::TAXR//15,
6
:92A::INTR//1,42
:16S:CADETL
Repetitive Mandatory Sequence D Corporate Action Confirmation
:16R:CACONF
:13A::CAON//001 ★
:22H::CAOP//CASH
:11A::OPTN//JPY
Repetitive Optional Subsequence D2 Cash Movements
:16R:CASHMOVE
:22H::CRDB//CRED
:97A::CASH//1234567
:19A:PSTA//JPY603500,
:19A::GRSS//JPY710000,
:19A::NETT//JPY603500,
:19A::WITL//JPY106500, ★
:98A::POST//20010313
:98A::VALU//20010313
:16S:CASHMOVE
:16S:CACONF
2.5 MT566-2
Odd Lot Sale SR2005
Mandatory Sequence A General Information
:16R:GENL
:20C::CORP//ODSLXXXXXXXXXX18
:20C::SEME//XN01082200000001
:23G::NEWM
:22F::CAEV//ODSL
:98A::PREP//20050117
Repetitive Optional Subsequence A1 Linkages
:16R:LINK
:13A::LINK//565
:20C::RELA//1000935000
:16S:LINK
:16S:GENL
Mandatory Sequence B Underlying Securities
:16R:USECU
:97A::SAFE//0100999999
7
:35B:ISIN JP3310200005 C + S CO LTD
:16S:USECU
Repetitive Mandatory Sequence D Corporate Action Confirmation
:16R:CACONF
:13A::CAON//001 ★
:22H::CAOP//PUTT
Repetitive Optional Subsequence D1 Securities Movement
:16R::SECMOVE
:22H::CRDB//DEBT
:35B:ISIN JP3310200005
:36B::PSTA//UNIT/30,
:98A::POST//20050112
:16:SECMOVE
Repetitive Optional Subsequence D2 Cash Movements
:16R:CASHMOVE
:22H::CRDB//CRED
:97A::CASH//1004362
:19A::PSTA//JPY125238,
:19A::CHAR//JPY1962, ★
:19A::GRSS//127200,
:98A::POST//20050112
:16S:CASHMOVE
:16S:CACONF
Optional Sequence E Additional Information
:16R:ADDINFO
:70E::ADTX//TRADED ON 20010807 UNIT PRICE JPY4240.. AGENT COMM JPY1462, OUR CHGS JPY500
:16S:ADDINFO
2.6 MT566-3
Bonus Issue SR2005
Mandatory Sequence A General Information
:16R:GENL
:20C::CORP//BONU622200000015
:20C::SEME//XF01073100000001
:23G:NEWM
:22F::CAEV//BONU
8
:98A::PREP//20041230
:16S:GENL
Mandatory Sequence B Underlying Securities
:16R:USECU
:97A::SAFE//0100999999
:35B:ISIN JP3105200004 AIWA
:93B::ELIG//UNIT/10000,
:16S:USECU
Optional Sequence C Corporate Action Details
:16R:CADETL
:98A::XDTE//20041227
:98A::RTDE//20041230
:98A::DIVR//20041201
:98A::EFFD//20050131
:92D::ADEX//0,1/1,
:16S:CADETL
Repetitive Mandatory Sequence D Corporate Action Confirmation
:16R:CACONF
:13A::CAON//001 ★
:22H::CAOP//SECU
Repetitive Optional Sequence D1 Securities Movements
:16R:SECMOVE
:22H::CRDB//CRED
:35B:ISIN JP3105200012 AIWA NEW SHARES
:36B::PSTA//UNIT/1000,
:98A::POST//20041230
:16S:SECMOVE
Optional Sequence E Additional information
:16R:ADDINFO
:70E::ADTX//NEW SHS CAN BE TRADED AS ' WHEN ISSUE TRADE ' BETWEEN 20041227 AND 20050126 WITH SETTLEMENT DATE 20050207.
:70E::ADTX// THE AVAILABILITY OF NEW SHS WILL BE NOTIFIED VIA MT508 ON THE AVAILABLE DATE . PHYSICAL SHARES, IF ANY, WILL BE AVAILABLE 2-5 DAYS LATER.
★
:16S:ADDINFO
9