06 Cat 5

Corporate Action (CA) Transaction Flows
8 Corporate Action (CA) Transaction Flows
8.1 Overview
After the settlement and custody of securities, the major product of a custodian involves the
management of Corporate Actions (CA) and their effect on customers' safekeeping accounts. In
recent years, the processing of corporate actions has become increasingly visible, because of the
risks involved and the degree of manual processing required.
SWIFT's corporate action messages are designed to reduce the risks involved, by providing for:
• the unambiguous reporting of the nature of the event
• the options available to the shareholder, response deadlines
• the specific impact on a safekeeping account
In this chapter
The corporate action messages covered by this edition are listed below:
1. MT 564 Corporate Action Notification
2. MT 565 Corporate Action Instruction
3. MT 566 Corporate Action Confirmation
4. MT 567 Corporate Action Status and Processing Advice
5. MT 568 Corporate Action Narrative
8.2 Corporate Actions

Introduction
In corporate actions, the messages are sent between an Account Servicer and an Account Owner.
In the world of corporate actions, and for the purposes of this chapter, the transaction flows are
initiated by market information gathered and distributed by local agents and data vendors.
Note: A basic definition of terms used by SWIFT can be found in “Introduction” on page 9.
Corporate Actions information flow

As illustrated in the figure “Corporate Actions information flow” on page 156, there is a constant
flow of external information and local market intelligence into the corporate action chain, via the
sub/global custodians. The result is that all parties receive, verify and add value to data from the
previous link in the chain.
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Category 5 Securities Markets – Message Usage Guidelines
Corporate Actions information flow
Stock Exchange Financial Publication Financial Publication
Data Vendor
Central Securities
Depository
Sub-Custodian Global Investment

Local Agent Custodian Manager
Clearing Agent Institution
Fund M anager
Broker
Financial Publications Data Vendors Data Vendors
D0130085
Market Intelligence
How Corporate Actions are used

The corporate action messages are used to:
• convey information from the Account Servicer to the Account Owner, regarding details of
forthcoming corporate action events
• enable the Account Owner to provide the Account Servicer with the necessary details and
instructions to carry out transactions relating to the corporate action event
• confirm to the Account Owner that the Account Servicer has carried out the required transactions,
with the appropriate adjustments (credits/debits) to the account
• enable the Account Servicer and the Account Owner to exchange narrative details, whether
outlining complex instructions pertaining to a corporate action event, or information regarding
Annual General Meetings and Proxy Voting actions/requirements
• enable the Account Servicer to provide the status of an ongoing corporate action event, or the
status of instructions sent by the Account Owner
Division of messages
The general division of messages is shown in the following table:
Division of messages
Transaction flow Message type

Notification Provide the Account Owner with information concerning
forthcoming CA events (MT 564)
Instruction Provide the custodian with instructions on how the Account
Owner wishes to proceed with a CA event (MT 565)
Confirmation Confirm to the Account Owner that securities/cash have
been credited/debited to an account as the result of a CA
event (MT 566)
Narrative Communicate to the Account Owner information pertaining
to shareholders or provide complex instructions relating to
a CA event (MT 568)
156 Standards May 2005 Release

Transaction flow Message type

Status Advice Communicate to the Account Owner the status of an
ongoing CA event or the status of an instruction sent by
the Account Owner (MT 567)
8.3 Corporate Actions - Chronology of Events

Introduction
The corporate action transaction flows differ in their format to those of Trade Initiation and
Confirmation (TIC) and Settlement and Reconciliation (S&R). This is because the corporate action
messages share a close relationship with events in the market, and are often issued in response
to certain fixed dates within the course of a specific event.
Corporate Actions timeline

The figure “Corporate Action chronology of events” on page 157 introduces the notion of a time-line,
which shows a chronology of market events and dates, with the corresponding corporate action
messages. For example, the Announcement of a corporate action event from the stock exchange,
results in an Account Servicer sending an MT 564 to the Account Owner. The individual transaction
flows and corporate action dates are explained in a similar manner in the following sections “MT
564 Corporate Action Notification - Announcement” on page 157, to “MT 568 Corporate Action
Narrative” on page 166.
Corporate Action chronology of events
Corporate Action Chronology of Events
Response
Announcement Deadline Date Ex Date Payment Date
Time-Line
MT 564 MT 565 MT 564 MT 566

Announcement Instruction Notification of Confirmation of
D0130086
of Event Entitled Position Account Posting
8.4 MT 564 Corporate Action Notification -

Announcement
Introduction
Unlike other securities markets processes that are initiated as a result of a tangible transaction or
instruction, CA events are a direct result of either a company's strategic policies or the effect of
market trends on a company.
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Consequently, the corporate action label covers a wide spectrum of business scenarios and
processes that are difficult to standardise, for the following reasons:
• the number of different types of events that come under the corporate action umbrella: SWIFT
has identified over 60 types of corporate action events
• the variation in the relevant information pertinent to each type of event
• the same event or corporate action having market-specific processing or local market variations
• local markets may use alternative names for the same corporate action event
Note: SWIFT's intention is not to standardise all corporate action events. Focus has been
placed on the most frequently encountered and the most straightforward events, for
example, income collection. This will allow customers the opportunity to concentrate
resources on the more difficult and potentially risky events, such as rights issues and
tender offers.
8.5 Corporate Action Messages

8.5.1 Special Features
Multiple accounts
The MT 564 CA Notification provides a custodian with the facility to announce an event together
with all safekeeping accounts that hold a security impacted by a corporate action. The account
information sequence will allow the Sender to repeat each account number, and the underlying
balance of securities held by each account. One announcement per Account Owner may be sent,
even if many accounts are involved in an event.
Due to the complexity of multiple sequencing, entitlement messages, detailing cash and securities
calculations, must be sent based on a one-account-per-message basis.
General announcement
The MT 564 CA Notification allows a custodian to send a general announcement to each Account
Owner, without providing further details on individual safekeeping accounts. This feature is to be
used for preliminary announcements only, where complete details are not yet available.
Balance of securities
All corporate action messages allow flexible reporting of underlying securities balances. The
objective of this functionality is to segregate an underlying balance according to the status of the
holding. The Account Servicer can provide further details on pending transactions and indicate if
a balance is eligible or not eligible to participate in an event. It can also be used to advise whether
a balance is blocked, on loan, or if a registration status would effect eligibility to participate in an
event, for example, shares held in street name.
Default option/standing instructions

When an event has more than one election possible, an Account Servicer can indicate the option
that will be selected by default, if an instruction is not received from the Account Owner. Another
flag will allow the custodian to indicate that standing instructions will be applied to select a specific
option.

Dates and date codes

The variety of scenarios supported by the corporate actions messages requires a flexible approach
to dates. While there are many date qualifiers, the use of dates in any given scenario will be limited.
The section “Corporate Action Scenarios” on page 181 demonstrates how dates are used in the
context of an event.
There are also two codes that can be used in lieu of an actual date. Rather than omitting a date
from the message, Account Servicer's are encouraged to use the code word UKWN to indicate
critical dates are unknown at the time a message is sent. The second code word OPEN will be
used to indicate that a deadline to respond to an offer will remain open until further notice.
Rates and ratios

The generic field, Rate, allows the Sender a structured way to indicate a wide variety of rates and
ratios used to make entitlement calculations for a specific event. The basis on which a rate is
expressed is described within the definition of the qualifier. For example, a rate can be expressed
as a percentage, for example, tax rate or based on a cash amount per share, for example, dividend
rate.
The basis for ratios is also defined by the qualifier description. Most ratios will be used for events
such as rights issues and stock splits. Read the definitions carefully to determine the order of the
ratio and to make sure numbers are not transposed, for example, 1 for 2 rather than 2 for 1.
Linking messages and references

The ISO 15022 SWIFT securities messages provide a linkage sequence that will enable a Sender
to link a message to one previously sent (previous reference), or to a message sent by another
institution (related reference). Messages are also linked through a master corporate action reference
that remains unique throughout the duration of the event.
Intermediate securities
In the MT 564 CA Notification, the Intermediate Securities Sequence was created for events that
credit securities to a safekeeping account before an Account Owner has an opportunity to make
a decision. The Intermediate Securities Sequence is used in rights issues where a custodian
confirms that rights are posted to a safekeeping account. Other fields in this sequence indicate
whether rights are tradable, the date they were credited to the account, and the duration of the
trading period. Events that credit securities to an account representing an entitlement, for example,
Netherlands coupon payment, French dividend options, also use the Intermediate Securities
Sequence.
Details sequence versus options sequence

The MT 564 contains two sequences with many of the same fields, for example, dates, period,
rate, price:
• Sequence D, Corporate Action Details, is used to convey all details relevant to the event in
general
• Sequence E, Corporate Action Options, is used when the details are relevant to the specified
option only
For example, a voluntary event offers the shareholder a choice of two options. If the response
deadlines on one option is shorter than the second, the CA Options Sequence must be used to
indicate the deadline dates specific to each option. For most mandatory events where a shareholder
is offered one choice only, the CA Details Sequence will be used to indicate all dates, periods,
rates and prices relevant to the event.
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Amounts
The MT 564 and the MT 566 offer the Sender the opportunity to specify a variety of cash amounts.
The objective of the amount qualifiers is to provide details of the individual components of a cash
posting. For example, the calculation of the net posted amount can be displayed by showing the
original gross payment, taxes and any charges. The Receiver will therefore be able to reconcile
the individual components to ensure all calculations were performed accurately. Further qualification
of cash amounts remains optional, whereas the actual cash amount posted to an account will
always be mandatory.
Other qualifiers will indicate amounts resulting from events such as capital gains distributions,
market claims, or the portion of a cash redemption that represents a premium.
8.5.2 Preliminary to Confirmed Announcements

How initial messages are replaced
1. Once it has been provided with information regarding a forthcoming event, the Account Servicer
may choose to provide the Account Owner with only the INITIAL details of the corporate action.
2. Initial notification is carried out via the MT 564 CA Notification. The function of the message
is NEWM (new message). The processing status of the message type is indicated using the
code PREU (preliminary announcement unconfirmed). It is important to recognise the
significance of the process status codes at this stage, as an MT 564 announcement may not
contain the full details relating to the event, for example, event dates and options. Furthermore,
the information has not been confirmed and is subject to change.
3. Once the Account Servicer has confirmed the event with corroborating sources, or the stock
exchange has made a formal announcement about the forthcoming corporate action, another
MT 564 may be sent to advise the Account Owner that the initial information has been
confirmed, although the Account Servicer may still not be able to provide all the details relating
to the event. In this case, the message will replace a previously sent message indicated by
the function code REPL replace. The processing status field will contain the code PREC
(preliminary announcement confirmed).
4. As soon as the Account Servicer is aware of all the details relating to the event, another
replacement message will be sent, advising the Account Owner of the exact details. This will
use the processing status code COMP, indicating complete information. Complete information
means that all the dates have been confirmed and reported, for example, Payment Date.
Not every event will go through this process. Often the Account Servicer will have complete and
confirmed information from the first notification. For simplicity, the scenarios documented in the
section “Corporate Action Scenarios” on page 181 assume that the information on the CA event is
complete from the first announcement.
Note: It is important to note that each MT 564 sent after the first new message will include
a linked reference to the previous MT 564. See “Corporate Action Message Outlines”
on page 169, for the Linkages Sequence A.

Timeline showing announcement
MT 564 Corporate Action Notification - Announcement
External Market
Information
Data Vendor
Local Agent Account

Servicer
Announcement
Time-Line
MT 564 MT 564 MT 564

Notification Notification Notification
Preliminary Preliminary Complete
Unconfirmed Confirmed
D0130087
Account
Owner
8.5.3 Mandatory versus Voluntary

Introduction
In addition to creating groups of corporate action event types, SWIFT has identified three general
divisions of corporate actions which determine:
• the mandatory or voluntary participation of the Account Owner in the event
• whether the Account Servicer requires an investment decision from the Account Owner on the
precise option to follow
Mandatory Corporate Action

A mandatory Corporate Action is defined as an event in which the beneficial owner of the
underlying security has no option other than to participate in the event. No investment decision is
required, for example, coupon payment to a bondholder.
Mandatory Corporate Action with Options

A mandatory Corporate Action with Options is an event in which the beneficial owner of the
underlying security has no option other than to participate in a CA event. However, an investment
decision is required, usually relating to a choice regarding the preferred financial option to pursue.
An example of this is a dividend option where the Account Owner must decide between a cash
or securities option.
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Voluntary Corporate Action

A voluntary Corporate Action is an event where the beneficial owner of securities is not obliged
to participate. These types of events usually involve an offer to the shareholder. However, an
instruction is required from the Account Owner in order to indicate an interest and either accept
or reject the offer, for example, rights issues, tender offer.
Summary
Summary of Corporate Actions
Mandatory corporate action event no instruction is required from the Account Owner
Mandatory corporate action event instruction from the Account Owner is required
with Options indicating the option to pursue
Voluntary corporate action event instruction from the Account Owner is required if
it wants to participate
8.6 MT 565 Corporate Action Instruction

Introduction
The Account Servicer will have previously informed the Account Owner of the corporate action
taking place via an MT 564 CA Notification.
According to the event type (as explained above), the Account Servicer may require an MT 565
CA Instruction.
Types of event
There are two types of event that require an instruction:
• a mandatory event with options, which requires the Account Owner to send an instruction to
the Account Servicer expressing its decision on the option it would prefer to take
• a voluntary event, where the Account Owner sends an instruction indicating whether it wishes
to participate in the event
It is common practice for an Account Servicer to remind the Account Owner that a deadline is
approaching, when no instruction has been received. The MT 564 CA Notification is used for this
purpose.
Investment decision
It is also important to understand the implications of the investment decision requirement, as a
failure to respond may be interpreted as a decision itself.
In the event that either the instruction is not received before the response deadline date or no
instruction is received at all, the following may occur:
• in a mandatory event, if no instruction is received by the Account Servicer, it may default the
Account Owner to a specific option. For example, in the case of a dividend option, if an Account
Owner does not respond by the deadline date, the Account Servicer may award cash as a
default option
• in a voluntary event, if no instruction is received by a deadline date, an Account Owner may

forgo its opportunity to participate in the event.
Therefore, to prevent ambiguity about the Account Owner's intentions, it is good practice to respond
to the MT 564 CA Notification, where an instruction is required.

Note: If no instruction is received, through the use of a flag, the MT 564 CA Notification
allows the Account Servicer to indicate which option will be selected by default.
MT 565 Timeline
MT 565 Corporate Action Instruction
Account
Servicer
Response
Announcement Deadline Date
Time-Line
MT 564 MT 564 MT 565

Notification Notification Instruction
Preliminary Preliminary
Unconfirmed Confirmed
D0130088
Account
Owner
8.7 MT 564 Corporate Action Notification - Entitlement

Explanantion
On the cut-off date to determine whether securities purchased will be eligible for an event (the Ex
Date), the Account Servicer will send an MT 564 CA Notification with entitlement information to
the Account Owner.
According to the corporate action event type, the MT 564 entitlement calculation will specify the
impact to the safekeeping account and/or the cash account based on:
• the number of underlying shares held by the Account Owner
• the payment ratio and the terms of the offer (whether this is in the form of rights, shares, cash
or options)
• the option selected by the Account Owner
The function of the MT 564 message will be REPE (replace with entitlement), the processing status
field will contain the code COMP (complete), indicating that all the relevant details have been
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finalised. The message will also contain the expected impact on safekeeping and cash accounts
as a result of the event.
MT 564 Corporate Action Notification - Entitlement
Account
Servicer
Announcement Ex Date Payment Date
Time-Line
MT 564 MT 564 MT 564

Notification Notification Notification
Preliminary Complete Entitlement
Unconfirmed Confirmed Calculation
Complete
D0130089
Account
Owner

8.8 MT 566 Corporate Action Confirmation

Using the MT 566 CA Confirmation
Confirmation that an event has been completed, will be sent from the Account Servicer to the
Account Owner via an MT 566 CA Confirmation This message will only be triggered by actual
postings to an account. The MT 566 will confirm that the appropriate adjustments to the safekeeping
account have been effected.
MT 566 Corporate Action Confirmation
Account
Servicer
Response
Announcement Deadline Date Payment Date
Time-Line
MT 564 MT 564 MT 565 MT 564 MT 566

Notification Notification Instruction Notification Confirmation
Preliminary Preliminary Entitlement Complete
Unconfirmed Confirmed Calculation
Complete
Details
D0130090
Account
Owner
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8.9 MT 567 Corporate Action Status and Processing

Advice
Using the MT 567
The MT 567 CA Status and Processing Advice may seem to have limited use within the
requirements of corporate action processing, because within a TIC/S&R transaction, the need for
status and process tracking is more apparent. A pending trade can always be attributed a status,
for example, the reason that it is still pending; whether matched, unmatched, or a future settlement.
In contrast, corporate actions do not follow such a structured process.
Some rules
For example, once an MT 565 CA Instruction has been sent from an Account Owner to an Account
Servicer stating a requirement to participate in an event, this instruction will be carried out. It is
unlikely that structured status codes could be used effectively prior to completion.
In certain circumstances, however, the Account Servicer will have a requirement to send an MT
567 CA Status and Processing Advice to an Account Owner.
These are:
• to acknowledge the acceptance or rejection of an instruction
• to acknowledge the acceptance or rejection of a cancellation
• to advise an Account Owner of a delay in payment by an issuer, or to provide an explanation

for an event not being processed, or completed, by the effective date
• to advise an Account Owner that there will be a problem in executing an instruction, for example,
insufficient funds or insufficient securities.
MT 567 Corporate Action Status and Processing Advice
MT 565 Instruction
MT 567 CA Status and Processing Advice
Account Account
D0130091
Servicer Owner
8.10 MT 568 Corporate Action Narrative

Using the MT 568
The MT 568 CA Narrative message is designed for extremely complex and detailed events that
require a large field for narrative and unstructured information. The MT 568 can be used to convey
information to, or from, either party - the Account Owner or the Account Servicer.
The MT 568 has been created as a solution to the difficulties of using the MT 599 Free Format,
where the message size restrictions inhibit the use of large amounts of free text.

The replacement of the MT 599 by the MT 568 for narrative corporate action information aims at
improving the routing of corporate action messages to the correct destinations, providing a more
efficient delivery system for the receiver. It must be noted however, that the MT 568 is NOT
designed to be used in lieu of structured messages such as the MT 564 - 566 for common events.
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Corporate Action Message Outlines
9 Corporate Action Message Outlines
9.1 Overview
Messages described in this section
It explains the business purpose, the parties involved and additional functionality for each of the
following messages:
1. MT 564 Corporate Action Notification
2. MT 565 Corporate Action Instruction
3. MT 566 Corporate Action Confirmation
4. MT 567 Corporate Action Status and Processing Advice
5. MT 568 Corporate Action narrative
The transaction flows in the previous chapter reflect the business process represented by the
message, whereas the more detailed message outlines that follow, show the message components
in terms of hierarchy, business functionality, and optional/mandatory sequences.
9.2 MT 564 Corporate Action Notification

Purpose
To provide an Account Owner with the details of a corporate action event. It may also include
possible elections or choices available to the Account Owner. The MT 564 can initially be sent as
a preliminary advice, and subsequently replaced by another MT 564 with complete or confirmed
information.
The message will also be used to provide the Account Owner with a calculation of the impact a
corporate action event will have on a safekeeping, or cash, account, for example, entitlement
calculation.
Players
This message is sent by an Account Servicer to an Account Owner for which it services a securities
safekeeping account.
The Account Servicer may be:
• a local agent servicing an account on behalf of a global custodian customer
• a sub-custodian servicing an account on behalf of its global custodian
• a custodian
servicing an account on behalf of:
– an investment management institution
– a broker/dealer
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Other functions
The MT 564 may also be used to:
• request the cancellation or the withdrawal of a previously sent corporate action notification
• re-send a corporate action notification previously sent
• provide a third party with a copy of the message
MT 564 Corporate Action Notification
Preliminary notification
Replace a previously sent notification
Request cancellation of previous notification
Withdrawal of offer or event
Replace previously sent notification with entitlement

Reminder of deadline
Account Account
Servicer Duplicate a notification previously sent Owner
D0130093
Copy to third party

Graphical representation of MT 564
MT 564
MT 564 Corporate Action A General Information (Mandatory)

Notification Includes:
- message and corporate action reference;
- function of the message (eg, preliminary announcement, entitlement)
- type of corporate action event;
- mandatory or voluntary.
A General Information
A1 Linkages (Optional)
A1 Linkages References a related message such as a previous announcement.
B Underlying Securities (Mandatory)

B Underlying Securities Includes identification of security.
B1 Financial Instrument Attributes (Optional)

B1 Financial Instrument Attributes Provides additional information about the financial instrument.
B2 Account Information (Mandatory)

B2 Account Information Includes:
- underlying account;
- balance of underlying securities;
- place of safekeeping.
C Intermediate Securities (Optional)
C Intermediate Securities Provides details on rights credited to the account (eg, trading period,
expiration date, renounceability).
D Corporate Action Details (Optional)

D Corporate Action Details Provides details relevant to the CA event in general. Includes:
- critical dates - ex, record, payable date;
- rates, ratios and prices.
E Corporate Action Options (Optional)

Provides details on the different options available to the account owner.
Includes:
E Corporate Action Options
- option number identification;
- election choices - cash, securities, subscribe, reinvest;
E1 Securities Movement - dates specific to the election - response deadlines;
- rates and ratios relative to the election.
E1a Financial Instrument Attributes
E1 Securities Movement (Optional)
Includes:
- credit/debit indicator;
E2 Cash Movements - identification of security;
- quantity of derived securities.
E1a Financial Instrument Attributes (Optional)

Provides additional information about the derived financial instrument.
E2 Cash Movements (Optional)

Provides details on derived cash:
- credit/debit indicator;
- amount;
- value date.
F Additional Information (Optional)

F Additional Information Provides additional field for narrative details relative to the corporate action
event.
D0130094
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9.3 MT 565 Corporate Action Instruction

Purpose
To provide the Account Servicer 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.
Players
This message is sent by an Account Owner to its Account Servicer.
The Account Owner may be:
• a global custodian which has an account with a local agent or sub-custodian
• an investment management institution which has an account with a custodian
• a broker/dealer which has an account with a custodian
Other functions
• request the cancellation of a previously sent corporate action instruction
• re-send a corporate action instruction previously sent
MT 565 Corporate Action Instruction
Corporate action instruction
Request cancellation of a previous instruction
Replace previously sent instruction
Duplicate instruction previously sent

Account Account
Servicer Owner
D0130095
Copy to third party

MT 565

Instruction Includes:
- function of the message (eg, new instruction or cancel);
- type of corporate action event;
- mandatory or voluntary.
A1 Linkages (Optional)
References a related message such as a previous announcement.
A1 Linkages

Includes
B Underlying Securities - identification of security.

B1 Financial Instrument Attributes Provides additional information about the financial instrument.
B2 Account Information (Mandatory)

B2 Account Information Includes:
- balance of underlying securities;
- place of safekeeping.
C Beneficial Owner's Details (Optional)

C Beneficial Owner's
Details
Provides details of the benficial owner (eg, identification of beneficiary
entity, domicile, quantity of underlying securities owned).
D Corporate Action Instruction (Mandatory)

D Corporate Action
Instruction
Provides details of the account owner's instruction:
- elected option number identification;
- election(s) selected - cash, securities, subscribe, reinvest;
- quantity of securities for which the instruction applies.
E Additional Information (Optional)

E Additional Information Provides additional field for narrative details relative to the corporate action
instruction.
D0130096
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9.4 MT 566 Corporate Action Confirmation

Purpose
To confirm to the Account Owner that securities and/or cash have been credited/debited to an
account, as the result of a corporate action event.
Players
• a custodian
– a broker/dealer
Other functions
• reverse a previously sent corporate action confirmation
• re-send a corporate action confirmation previously sent
MT 566 Corporate Action Confirmation
Corporate action confirmation
Reverse a previously sent confirmation
Duplicate a confirmation previously sent

Account Account
Servicer Owner
D0130097
Copy to third party

MT 566

Confirmation Includes:
- function of the message (eg, new confirm, reversal);
- type of corporate action event.
A1 Linkages A1 Linkages (Optional)


B Underlying Securities Includes
- identification of security;
B1 Financial Instrument Attributes - balance of underlying securities.

Provides additional information about the financial instrument.
C Corporate Action Details (Optional)

Provides details pertaining to the corporate action event.
C Corporate Action Details Includes:
- critical dates - ex, record, payable date;
- rates, ratios and prices.
D Corporate Action Confirmation (Mandatory)

Provides details specific to a given option for the corporate action event.
Includes:
D Corporate Action
Confirmation
- option number identification;
- election choices - cash, securities, subscribe, reinvest;
- dates specific to the election - response deadlines;
D1 Securities Movement - rates and ratios relative to the election
.
D1a Financial Instrument Attributes D1 Securities Movement (Optional)
Confirms securities account activity resulting from the corporate action
event.
D1b Receive/Deliver
D1a Financial Instrument Attributes (Optional)
D1b Receive/deliver (Optional)

D2 Cash Movements Provides details on third parties involved in the settlement of
securities resulting from the corporate action.
D2a Cash Parties
D2 Cash Movements (Optional)
Confirms cash account activity resulting from the corporate action
event.
D2a Cash Parties (Optional)

Provides details on third parties involved in cash remuneration
resulting from the corporate action.
E Additional Information (Optional)

E Additional Information Provides additional field for narrative details relative to the posting of cash
and/or securities.
D0130098
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9.5 MT 567 Corporate Action Status and Processing

Advice
Purpose
To advise the status, or a change in status, of a corporate-action-related transaction previously
instructed by, or executed on behalf of, the Account Owner. This will include the
acknowledgment/rejection of a corporate action instruction or the acknowledgment /rejection of a
request to cancel an outstanding instruction. It may also be used to provide the reason a corporate
action event has not been completed by the announced payment dates.
Players
• a custodian
– a broker/dealer
Other functions
• re-send a corporate action status previously sent
MT 567 Corporate Action Status and Processing Advice
Advise status of corporate action
Duplicate and advice previously sent
Account Account
Servicer Owner
D0130099
Copy to third party

MT 567

Status & Processing Advice Includes:
- function of the message (eg, status relates to an instruction,
cancellation or corporate action event);
A1 Linkages (Mandatory)
A1 Linkages
A2 Status (Mandatory)
Status of the transaction.
A2 Status
A2a Reason (Optional)
A2a Reason Explains the reason the transaction has the indicated status.
B Corporate Action Details (Optional)

Provides details unique to the particular transaction:
B Corporate Action Details - underlying safekeeping account;
- cash amount and quantity of derived securities.
C Additional Information (Optional)

Provides additional field for narrative details relative to the status of a
C Additional Information corporate action event.
D0130100
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9.6 MT 568 Corporate Action Narrative

Purpose
To provide complex instructions or narrative details relating to a corporate action event.
Players
This message is sent between an Account Servicer and an Account Owner for which it services
a securities safekeeping account.
The MT 568 may be sent between:
• a local agent and its global custodian customer
• a sub-custodian and its global custodian customer
• a custodian and its investment management institution customer
• a custodian and its broker/dealer customer
Other functions
• cancel a previously sent corporate action narrative
• re-send a corporate action narrative previously sent
MT 568 Corporate Action Narrative
Corporate action narrative
Cancel a previously sent narrative
Duplicate a previously sent narrative

Account Account
Servicer Owner
D0130101
Copy to third party Copy to third party

MT 568

Narrative Includes:
- function of th emessage (eg, new or cancel);
A General Information A1 Linkages (Optional)

References a related message.
A1 Linkages
B Underlying Securities (Optional)

B Underlying Securities Includes:
B1 Financial Instrument Attributes - balance of underlyhing securities.

C Additional Information (Mandatory)

C Additional Information Provides additional field for narrative details relative to a corporate action
event.
D0130102
1.0 179

Corporate Action Scenarios
10 Corporate Action Scenarios
10.1 Overview
Introduction
Due to the diversity of corporate actions in general, the application of the ISO 15022 message
types to corporate action events may seem a challenging task.
The scenarios are designed to illustrate the functionality of a message, however, readers must
consult the SWIFT Standards Category volumes for the complete field and format structures.
The actual usage and content will be determined in accordance with market best practice.
Scenarios in this section

You can find the following scenarios in this section:
1. Dividend Option
2. Assimiliation/Pari Passau Event
3. Cash Dividend Payment
4. Interest Coupon Payment
5. Merger
6. Bond Redemption
7. Rights Offer
8. Change of Name
9. Stock Split
10.2 Dividend Option

Introduction
The first example illustrates the messages used for the notification, instruction, entitlement
calculation and confirmation of a dividend option.
Scenario
Scenario details
Situation Dividend Option

Issue name Glaxo Wellcome
Terms Final nett dividend of GBP 0.0153 per share, OR one
ordinary share of 10p for every 37 shares held.
Elections cannot be made on holdings of less than
37 shares.
Elections which give rise to fractional entitlements will
be rounded down to the nearest whole multiple of 37
shares; the net cash dividend of GBP 0.0153 will be
paid on the remainder of the holding.
Title GB0007123466 Glaxo Wellcome 10p
1.0 181
Relative details and dates Ex date - 01 September 2005

Record date - 07 September 2005
Response deadline 15 September 2005
Market deadline 25 September 2005
Dividend pay date - 02 October 2005
Dealings in scrip shares expected to commence - 02
October 2005
Transaction narrative
The European Equity Fund (A/C 98-0112441-05) has an underlying balance of 80,000 shares
settled in its safekeeping account. The account has a pending transaction to receive 20,000 shares.
The shares were purchased prior to ex date and are therefore eligible for the dividend.
Instruction narrative
The European Equity Fund will elect the cash option for the entire eligible balance.
The above sets the business scene. The application of the event to the corporate action message
or series of messages is achieved by using MTs 564, 565, 566 and 567:
• MT 564 for notification of the dividend option
• MT 565 for the instruction of options to be taken
• MT 567 for the processing status on the instruction received.
• MT 564 for the entitlement calculation
• MT 566 to confirm the action resulting from the stock dividend
Dividend Option
MT 564 Notification of Dividend Option
MT 565 Instruction Electing to Take the Stock Dividend Option

MT 567 Processing Status on the instruction Received
MT 564 Entitlement Calculation

Account MT 566 Confirmation of the Posting of the Shares Account
D0130103
Servicer Owner
Message examples
The following diagrams show the relationship between the actual field content of the message
outline and the corresponding business description.

MT 564
Field content Notes
MT 564 Corporate Action
Notification :16R:GENL
:20C::SEME//1997189-012 Sender's reference
Notification for a dividend :20C::CORP//DIVGLAX0123 Corporate action event reference
Option :23G:NEWM
:22F::CAEV//DVOP Dividend option
A General Information :22F::CAMV//CHOS

:98A::PREP//20050828
Mandatory with a choice
Preparation date/time
:25D::PROC//COMP Details of event are complete
:16S:GENL
:16R:USECU
:35B:ISIN GB0007123466 Underlying security
GLAXO HOLDINGS
:16R:ACCTINFO
B Underlying Securities :97A::SAFE//98-0112441-05 European equity fund account
:93B::ELIG//UNIT/100000, Underlying eligible for CA
B2 Account Information :93C::PENR//UNIT/ELIG/20000, Quantity pending receipt - Eligible
for event
:16S:ACCTINFO
:16S:USECU
:16R:CADETL
:98A::XDTE//20050901 Ex date
:98A::RDTE//20050907 Record date
:98A::PAYD//20051002 Payment date
:98A::RDDT//20050915 Response deadline date
D Corporate Action Details
:98A::MKDT//20050925 Market deadline date
:22F::DIVI//FINL Final dividend
:16S:CADETL
:16R:CAOPTN
:13A::CAON//001 Option 1
:22F::CAOP//CASH Cash option
:11A::OPTN//GBP Currency offered
:17B::DFLT//Y If no election is made, account owner
E Corporate Action Options will receive this option by default
:92F::NETT//GBP0.0153 Net rate is GBP 0.0153 per share
E Corporate Action Options 1 :16S:CAOPTN
:16R:CAOPTN
E Corporate Action Options 2 :22F::CAOP//SECU Securities Option
:22F::DISF//CINL Fractional remainders paid in cash
:17B::DFLT//N Option will not be selected by default
:35B:ISIN GB0007633421 Security ID of scrip issue
GLAXO WELLCOME
(RFD 01-06-98)
:98A::FDDT//20051002 Trading of scrip shares begins
:92D::ADEX//1,/37, 1 new share for every 37 held
:16S:CAOPTN
D0130104
1.0 183
MT 565
Field content Notes

Instruction :16R:GENL
:20C::SEME//987-654-32 Sender's reference
Instruction for a Dividend :20C::CORP//DIVGLAX123 Corporate action event reference
Option (as assigned by account servicer)
:23G:NEWM New message
A General Information :22F::CAEV//DVOP

:16R:LINK
Dividend option
:13A::LINK//564 MT number of linked message

A1 Linkages :20C::RELA//1997189-012 Sender message reference number
from the 564 announcement
:16S:LINK
:16S:GENL
:16R:USECU
:35B:ISIN GB0007123466
B Underlying Securities GLAXO WELLCOME
:16R:ACCTINFO
:97A::SAFE//98-0112441-05 European equity fund
B2 Account Information :93B::ELIG//UNIT/100000, Underlying eligible for CA
:16S:ACCTINFO
:16S:USECU
:16R:CAINST
:13A::CAON//001 Open number assigned by the
account servicer (from the 564)
D Corporate Action
Instruction
:22F::CAOP//CASH
:11A::OPTN//GBP
Cash option selected
:36B::QINS//100000, Instruction applies for 100,000 eligible

shares
:16S:CAINST
D0130105

MT 567
Field content Notes

Status and Processing Advice
Processing status of the client

instruction
A General Information :16R:GENL

:20C::CORP//DIVGLAX123 Corporate action event reference
A1 Linkages (as assigned by account servicer)
:23G:INST Instruction status
A2 Status
:16R:LINK
:13A::LINK//565 MT number of linked message
:20C::RELA//987-654-32 Message reference number of MT565
:16S:LINK
:16R:STAT
:25D:IPRC//PACK Instruction accepted for further
processing
:16S:STAT
:16S:GENL
:16R:CADETL
B Corporate Action Details :13A::CAON//001
:22F::CAOP//CASH
Elected option number identification
Elected cash option
:36B::STAQ//100000, Quantity on which the status is given
:16S:CADETL
D0130229
1.0 185
MT 564
Field content Notes

MT 564 Corporate Action :16R:GENL
Notification :20C::SEME//1997189-014 Sender's reference
:20C::CORP//DIVGLAX0123 Corporate action event reference
Entitlement Calculation for a :23G:REPE Replaces previous 564 with an
Dividend Option entitlement calculation

:25D::PROC//COMP
Mandatory with a choice
Details of event are complete
:16R:LINK
A1 Linkages :13A::LINK//564 MT of linked message
:20C::PREV//1997189-012 Reference number of the instruction
:16S:LINK
:16S:GENL
:16R:USECU
:35B:ISIN GB0007123466 Underlying security
B Underlying Securities GLAXO WELLCOME
:16R:ACCTINFO
B2 Account Information :97A::SAFE//98-0112441-05 European equity fund account
:93B::ELIG//UNIT/100000, Total balance eligible for CA
:93C::PENR//UNIT/ELIG/20000, Shares are pending eligible for event
:16S:ACCTINFO
:16S:USECU
:16R:CADETL
:98A::XDTE//20050901 Ex date
:98A::RDDT//20050915 Response deadline date
D Corporate Action Details :98A::MKDT//20050925 Market deadline date
:16S:CADETL
:16R:CAOPTN
:13A::CAON//001 First option
:11A::OPTN//GBP
E Corporate Action Options :17B::DFLT//Y
:92F::NETT//GBP0,0153
Option is selected by default
:16R:CASHMOVE
:22H::CRDB//CRED Credit account
:19A::ENTL//GBP1530, Cash entitled amount = 100000x
E2 Cash Movement 0,0153 GBP = 1530 GBP
:98A::PAYD//20051002 Date cash to be paid
:16S:CASHMOVE
:16S:CAOPTN
D0130106

MT 566
Field content Notes

Confirmation :16R:GENL
Confirmation of a Dividend :20C::CORP//DIVGLAX0123 Corporate action event reference
Option :23G:NEWM New message
:16R:LINK
A1 Linkages 1 :13A::LINK//564
:20C::PREV//1997189-014 Reference number of 564 entitlement
:16S:LINK
A1 Linkages 2
:16R:LINK
:13A::LINK//565
:20C::RELA//987-654-32 Reference number of 565 instruction
:16S:LINK
:16S:GENL
:16R:USECU
B Underlying Securities :97A::SAFE//98-0112441-05
:35B:ISIN GB0007633421
European equity fund account
Underlying security
GLAXO WELLCOME PLC
:93B::CONB//UNIT/100000, Confirmed balance
:16S:USECU
:16R:CACONF
D Corporate Action
Confirmation
:13A::CAON//001
:22F::CAOP//CASH Posting is the result of account
owner's election of cash
:98A::PAYD//20051002 Date cash was to be paid
D2 Cash Movements :16R:CASHMOVE

:22H::CRDB//CRED Credit to account
:97A::CASH//98-0112441-17 Cash account credited
:19A::PSTA//GBP1530, Amount posted to account
:19A::NETT//GBP1530, Net amount
:98A::POST//20051002 Posting date
:98A::VALU//20051002
:16S:CASHMOVE
:16S:CACONF
D0130107
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10.3 Assimilation/Pari Passu Event

Scenario
This example illustrates the messages used for the notification and confirmation of an assimilation
or pari passu event.
Scenario Details
Situation Assimilation / Pari Passu

Issue name Torex Group
Terms Each ordinary 10p (RFD-1/11/10) share ranks Pari
Passu with the existing ordinary shares of 10p.
Relative details and dates 18 April 2005: The Register for Torex Group Ordinary
10p (RFD-3/1/10) will close/Books
21 April 2005: Effective Crest Accounts dates to be
merged
Certificates:
• The European Equity Fund holds an underlying balance of 58,653 shares of Torex Ord (RFD
3/1/10) ISIN GB0008943002.
The application of the event to the corporate action message, or series of messages, is achieved
by using MTs 564 and 566:
• MT 564 for notification of the assimilation
• MT 564 for the entitlement calculation
• MT 566 to confirm the action resulting from the assimilation
Assimilation / Pari Passu
MT 564 Notification of Pari Passu/Assimilation
MT 566 Confirmation of the Assimilation

Account Account
D0130108
Servicer Owner

Message examples
MT 564
Field content Notes

Notification
Notification of an Assimilation
:16R:GENL
A General Information :20C::CORP//CA1997256

:23G:NEWM
Corporate action event reference
New message
:22F::CAEV//PARI Pari-passu/Assimilation
:22F::CAMV/MAND Mandatory event, no instruction
required
:25D::PROC//PREC Preliminary announcement confirmed
:16S:GENL
:16R:USECU
B Underlying Securities :35B:ISIN GB0008943002 ISIN of underlying security
TOREX GROUP ORD 10P
B2 Account Information (RFD 01/10/97)
:16R:ACCTINFO
:97A::SAFE//953-075983-89 European equity fund account
:93B::ELIG//UNIT/58653, Underlying balance eligible for CA
:16S:ACCNTINFO
:16S:USECU
:16R:CADETL
D Corporate Action Details :98A::RDTE//20050418 Record date
:98A::EFFD//20050421 Effective date
:16S:CADETL
:16R:CAOPTN
:13A::CAON//001 Option number (only one)
:22F::CAOP//SECU Securities will be derived
:17B:DFLT//Y Default option
:35B:ISIN GB00089971490 ISIN of security that new shares
TOREX GROUP 10P ORD will be assimilated into
:16S:CAOPTN
D0130230
1.0 189
MT 564
Field content Notes

Entitlement Calculation :16R:GENL
Entitlement Calculation :20C::CORP//CA1997256 Corporate action event reference
:23G:REPE Entitlement message
A General Information :22F::CAMV/MAND Mandatory event, no instruction

required
:25D::PROC//COMP Confirmed
A1 Linkages :16R:LINK
:13A::LINK//564
:20C::PREV//256-01164
:16S:LINK
:16S:GENL
:16R:USECU
B Underlying Securities :35B:ISIN GB0008943002 ISIN of underlying security
TOREX GROUP ORD 10P
B2 Account Information (RFD 01/10/10)
:16R:ACCTINFO
:16S:ACCNTINFO
:16S:USECU
:16R:CADETL
:98A::EFFD//20050421 Effective date
D Corporate Action Details :16S:CADETL
:16R:CAOPTN
:22F::CAOP//SECU Securities to be derived
:17B:DFLT//Y Event will be processed by default
without instruction
:92D::NEWO//1,/1, New shares for Old Ratio (1 for 1)
:16R:SECMOVE
:22H::CRDB//DEBT Securities to be debited
:35B:ISIN GB0008943002
TOREX GROUP 10P ORD
Identification of security debited
(RFD 01/10/97)
E1 Securities Movement 1 :36B::PSTA//UNIT/58653, Quantity of securities debited
:98A:PAYD//20050421 Date the debit will be effected
:16S:SECMOVE
E1 Securities Movement 2
:16R:SECMOVE
:22H:CRDB//CRED Securities to be credited
:35B:ISIN GB0008971490 Original parent issue credited
TOREX GROUP 10P ORD
:36B::PSTA//UNIT/58653, Quantity of securities credited
:98A::PAYD//20050421 Date the credit will be effected
:16S:SECMOVE
:16S:CAOPTN
D0130109

MT 566
Field content Notes

Confirmation of an Assimilation :20C::CORP//CA997256 Corporate action event reference
:16R:LINK
A1 Linkages :13A::LINK//564
:20C::PREV//256-01165 Reference of MT 564
:16S:LINK
:16S:GENL
:16R:USECU
:35B:ISIN GB0008943002 Underlying securities
B Underlying Securities TOREX GROUP ORD 10P
(RFD 01/10/97)
:16S:USECU
:16R:CACONF
:13A::CAON//001 Option number
:22F::CAOP//SECU Securities to be derived
:92D::NEWO//1,/1, New shares for Old Ratio (1 for 1)
:16R:SECMOVE
D Corporate Action
Confirmation
:22H::CRDB//DEBT
:35B:ISIN GB0008943002
Securities to be debited
Identification of security debited
TOREX GROUP 10P ORD
D1 Securities Movement 1 (RFD 01/10/10)
:36B::PSTA//UNIT/58653, Quantity of securities debited
D1 Securities Movement 2 :98A::POST//20051201 Date securities were debited from
account
:16S:SECMOVE
:16R:SECMOVE
:22H::CRDB//CRED Securities to be credited
:35B:ISIN GB0008971490 Identification of security credited
TOREX GROUP 10P ORD
:36B::PSTA//UNIT/58653, Quantity of securities credited
:98A::POST//20051201 Date posted to account
:98A::AVAL//20051201 Date securities available for sale
:16S:SECMOVE
:16S:CACONF
D0130110
1.0 191
10.4 Cash Dividend Payment

Scenario
This example illustrates the messages used for the notification and confirmation of a cash dividend
payment.
Scenario details
Situation Cash Dividend Payment

Issue name Sheima Seiki Manufacturing Ord
ISIN JP3356500003
Terms Gross dividend rate is 15 JPY per share.
Withholding tax rate of 15%.
Relative dates Ex date of September 25, 2005
Record date of October 2, 2005
Pay date of December 4, 2005
The cash dividend will be collected on behalf of Wellington Equity High Income Fund A/C
000-3000-0. The dividend will be paid in JPY. The account has an underlying settled balance of
4600 shares.
The application of the cash dividend to the corporate action message or series of messages is
achieved by using MTs 564 and 566.
The MT 566 illustrates an example where the proceeds are repatriated from JPY to GBP:
• MT 564 for notification of the cash dividend
• MT 566 for the confirmation of the cash dividend
Cash Dividend
MT 564 Notification of Cash Dividend
MT 566 Confirmation of the Cash Dividend
Account Account
D0130111
Servicer Owner
Message examples

MT 564 Corporate Action Notification of a Cash Dividend
Field content Notes

:20C::SEME//0000122857810137 Sender's reference
Notification of a Cash Dividend :20c::CORP//DIV3437592 Corporate action event reference
:22F:CAEV//DVCA Cash dividend
A General Information :22F::CAMV/MAND

:98C::PREP//20050925093005
Mandatory event
Preparation date (YYYYMMDD)
time (HHMMSS)
:25D::PROC//COMP
:16S:GENL
:16R:USECU
:35B:ISIN JP3356500003 ISIN of underlying security
SHIMA SEIKI MANUFACTURING
B Underlying Securities ORD
B2 Account Information :16R:ACCTINFO

:97A::SAFE//000-3000-0 Wellington Hi Inc Fund
:16S:ACCTINFO
:16S:USECU
:16R:CADETL
:98A::XDTE//20050925 Ex date
:16R:CAOPTN
:22F::CAOP//CASH Cash dividend
:11A::OPTN//JPY Currency offered
:17B::DFLT//Y Option select by default
:92F::GRSS//JPY15, Gross dividend per share
:92A::TAXR//15,
:16R:CASHMOVE
Tax rate percentage
:22H::CRDB//CRED Expected credit

E2 Cash Movements :19A::ENTL//JPY58650, Cash amount expected to be posted
to account
:19A::GRSS//JPY69000, Gross amount
:19A::TAXR//JPY10350, Tax amount
:16S:CASHMOVE
:16S:CAOPTN
D0130112
1.0 193
MT 566 Corporate Action Confirmation - Repatriation of Cash Proceeds

Field content Notes
Repatriation of Cash Proceeds :20C::CORP//DIV3437592 Corporate action event reference
:22F::CAEV//DVCA Cash dividend
:16R:LINK
:13A::LINK//564
A1 Linkages :20C::PREV//0000122857810137 Reference of previous MT 564
:16S:LINK
:16S:GENL
:16R:USECU
:97A::SAFE//000-3000-0 Wellington Hi Inc fund
:35B:ISIN JP3356500003 ISIN of underlying security
SHIMA SEIKI MANUFACTURING
B Underlying Securities ORD
:16S:USECU
:16R:CADETL
:16S:CADETL
C Corporate Action Details :16R:CACONF

:13A::CAON//001
Confirmation of cash movements
Option number
:22F::CAOP//CASH
:92A::GRSS//15, Expressed as cash amount per share
:92A::TAXR//15, Expressed as a percentage
:16R:CASHMOVE
:19A::GRSS//JPY69000, Gross payments in JPY
:19A::TAXR//JPY10350, Tax amount in JPY
:19A::PSTA//JPY58650, Net posted in JPY
:98A::POST//20051204 Date cash posted to account
:98A::VALU//20051204 Value date of posted cash
:16S:CASHMOVE
:16R:CASHMOVE
D Corporate Action
Confirmation
:22H::CRDB//DEBT Debit to account
:19A::PSTA//JPY58650, Net JPY amount debited from account
D2 Cash Movements 1 :98A::POST//20051204 Date cash debited
:16S:CASHMOVE
D2 Cash Movements 2 :16R:CASHMOVE

:97A::CASH//3446725-0 GBP cash account number
D2 Cash Movements 3 :19A::PSTA//GBP269,07 Net posted in GBP after repatriation
:19A::RESU//GBP269,07 Resulting amount after FX deal
:98A::POST//20051204 Date cash posted to account
:98A::VALU//20051204 Value date of posted cash
D0130113
:92B::EXCH//GBP/JPY217,97244 Exchange rate between JPY/GBP

:16S:CASHMOVE
:16S:CACONF

10.5 Interest/Coupon Payment

Scenario
This example illustrates the messages used for the notification and confirmation of an interest or
coupon payment.
Scenario details
Situation Interest/Coupon Payment

Issue name Federal Farm Credit Bank 5.4% due 02/12/10
ISIN US31331HJM08
Bond pays at a coupon rate of 2.7% for the applicable
period
Relative dates Record Date - December 1, 2005
Pay Date - December 4, 2005
Coupon interest for an assured payment date is collected on behalf of BEA Domestic Income Fund
A/C 000-70000-0 in the client's preferred currency of US dollars. The account holds a position of
4,905,000 face of Federal Farm Credit Bank 5.400% as a settled position. The bond pays twice
a year.
The application of the interest payment to the corporate action message or series of messages is
achieved by using the MTs 564 and 566:
• MT 564 for notification of the coupon payment
• MT 566 for confirmation of the coupon payment
Interest/Coupon Payments
MT 564 Notification of Interest Payment
MT 566 Confirmation of the Interest Payment
Account Account
D0130114
Servicer Owner
Message examples
1.0 195
MT 564
Field content Notes

Notification of an Interest :20C::CORP//INTR12011997 Corporate action event reference
Payment :23G:NEWM New message
:22F::CAEV//INTR Interest payment
A General Information :22F::CAMV//MAND

:25D::PROC//COMP
Mandatory event
Complete announcement
:16S:GENL
:16R:USECU
:35B:ISIN US3133HJM08 ISIN of underlying security
FEDERAL FARM CREDIT BANK
:16R:FIA
B Underlying Securities :98A::MATU//20101202 Maturity date of bond
:98A::COUP//20060604 Next coupon payment
B1 Financial Instrument Attributes :92A::INTR//5,4 Annual interest rate
:16S:FIA
B2 Account Information :16R:ACCTINFO

:97A::SAFE//000-70000-0 BEA domestic income account
:93B::ELIG//FAMT/4905000, Underlying eligible for CA
:16S:ACCTINFO
:16S:USECU

:16R:CADETL
:98A::XDTE//20051204 Ex date
:69A::INPE//20050602/20051202 Interest period
:92A::INTR//5,4 Annual interest rate
:16S:CADETL
:16R:CAOPTN
:22F::CAOP//CASH Cash
:11A::OPTN//USD Currency of interest payment
:17B::DFLT//Y Option selected by default
E Corporate Action Options :92A::INTP//2,7 Interest rate used for payment
(5,4 / 2 = 2,7)
E2 Cash Movements :16R:CASHMOVE

:19A::GRSS//USD132435 Gross amount
:19A::ENTL//USD132435, Entitled amount
:98A::PAYD//20051204 Date payment is to be made
:16S:CASHMOVE
:16S:CAOPTN
D0130115

MT 566
Field content Notes

Confirmation of an Interest :20C::CORP//INTR12011997 Corporate action event reference
Payment :23G:NEWM New message
:22F::CAEV//INTR Interest payment
A General Information :16R:LINK

:13A::LINK//564
:20C::PREV//0000139703610007 Reference of previous MT 564
A1 Linkages :16S:LINK
:16S:GENL
:16R:USECU
:97A::SAFE//000-70000-0 BEA domestic income account
:35B:ISIN US31331HJM08 ISIN of underlying security
FEDERAL FARM CREDIT BANK
B Underlying Securities :16R:FIA

:98A::MATU//20101202 Maturity date of bond
B1 Financial Instrument Attributes :98A::COUP//20060604 Next coupon payment
:16S:FIA
:93B::CONB//FAMT/4905000, Confirmed balance
:16S:USECU
:16R:CADETL
C Corporate Action Details
:98A::XDTE//20051204 Ex date
:69A::INPE//20050602/20051202 Interest period
:16S:CADETL
:16R:CACONF
:22F::CAOP//CASH Cash
:11A::OPTN//USD Currency of interest payment
D Corporate Action Options :92A::INTP//2,7 Interest rate used for payment
(5,4/2 = 2,7)
D2 Cash Movements
:16R:CASHMOVE
:19A::PSTA//USD132435, Posted cash amount
:19A::GRSS//USD132435, Gross amount
:98A::POST//20051204 Date payment is posted to account
:98A::VALU//20051204 Value date of funds
:16S:CASHMOVE
:16S:CACONF
D0130116
1.0 197
10.6 Merger
Scenario
This example illustrates the messages used for the notification and confirmation of a corporate
action merger.
Scenario details
Situation Merger
Issue name FMC Gold Inc.
ISIN US3024941094
Terms Shares of FMC Gold will be exchanged with shares
of Meridian Gold Inc and cash. The shareholder will
receive 1 share of Meridian Gold and USD 0.02 for
every share of FMC Gold.
Critical dates General meeting date - July 24, 2005
Cash payment date - July 31, 2005
Release date of new security - August 22, 2005
Shares available for sale - August 22, 2005
Effective date of merger - July 31, 2005
FMC Gold Inc. (ISIN US3024941094) and Meridian Gold Inc (ISIN US5899751016) have agreed
to a merger. Shares of FMC will cease to exist, and will be exchanged for shares of Meridian Gold,
together with a cash disbursement. ABN Amro Omnibus account has a position of 135,000 shares
of FMC. The New York Stock Exchange has announced the date of the merger will be July 31,
2005.
The application of the merger event to the corporate action message, or series of messages, is
achieved by using the MTs 564 and 566:
• MT 564 for notification of the merger
• MT 564 entitlement message
• MT 566 for confirmation of the merger
Corporate Action Merger
MT 564 Notification of Merger
MT 564 Entitlement Message
MT 566 Confirmation of the Merger

Account Account
D0130117
Servicer Owner
Message examples

MT 564
Field content Notes

General Notification
Notification of a Merger :16R:GENL

:20C::SEME//BBH00998 Sender's reference
:20C::CORP//MERGER-BBH96240 Corporate action event reference
A General Information :232G:NEWM

:22F::CAEV//MRGR
New message
Merger
:22F::CAMV//MAND Mandatory event
:25D::PROC//PREU Preliminary announcement unconfirmed
:16S:GENL
:16R:USECU
B Underlying Securities :35B:ISIN US3024941095
FMC GOLD CO
ISIN of underlying security
:16R:ACCTINFO
B2 Account Information :97B::SAFE//GENR General announcement
:16S:ACCTINFO
:16S:USECU
:16R:CADETL
D Corporate Action Details :98A::MEET//20050724
:98A::EFFD//20050731
Date of general meeting
Effective date of merger
:16S:CADETL
D0130231
1.0 199
MT 564
Field content Notes
Entitlement calculation :16R:GENL
:20C::SEME//BBH00999 Sender's reference
Entitlement calculation for :20C::CORP//MERGER-BBH96240 Corporate action event reference
the merger :23G:REPE Entitlement message
:22F::CAEV//MRGR Merger

:25D::PROC//COMP
Mandatory event
:16R:LINK
:20C::PREV/BBH00998
:16S:LINK
:16S:GENL
:16R:USECU
B Underlying Securities :35B:ISIN US3024941095
FMC GOLD CO
ISIN of underlying security
:16R:ACCTINFO
B2 Account Information :97A::SAFE//1005791 ABN Amro Omnibus account
:16S:ACCTINFO
:16S:USECU
:16R:CADETL
D Corporate Action Details :98A::MEET//20050724
:98A::EFFD//20050731
Date of general meeting
Effective date of merger
:16S:CADETL
:16R:CAOPTN
:22F::CAOP//CASE Cash and securities will be derived
:17B::DFLT//Y Option selected by default
:92D::NEWO//1,/1, Quantity of new shares exchanged
:90B::OFFR//ACTU/USD0,02
for old shares
Price received per share in addition to derived
security
E1 Securities Movement 1
:16R:SECMOVE
:22H::CRDB//DEBT Debit account
E1 Securities Movement 2 :35B:ISIN US3024941095 Security to be debited
FMC GOLD INC
:36B::PSTA//UNIT/135000, Quantity of shares to be posted
E2 Cash Movements :98A::PAYD//20050822 Date securities will be debited
:16S:SECMOVE
:16R:SECMOVE
:22H:CRDB//CRED Credit to account
:35B:ISIN US5899751013 Security to be credited
MERIDIAN GOLD INC
:36B::PSTA//UNIT/135000, Quantity of shares to be posted
:98A::PAYD//20050822 Date securities will be credited
:98A::AVAL//20050824 Date securities will be available
:16S:SECMOVE
:16R:CASHMOVE
:19A::ENTL//USD2700, Cash amount to be paid
:98A::PAYD//20050731 Date cash will be paid
D0130118
:16S:CASHMOVE
:16S:CAOPTN

MT 566
Field content Notes
Confirmation :20C::SEME//BBH00999 Sender's reference
:20C::CORP//MERGER-BBH96240 Corporate action event reference
Confirmation of a Merger :232G:NEWM New message
:22F::CAEV//MRGR Merger
:16S:GENL
A General Information :16R:LINK
:13A::LINK//564 Linked to previous MT 564
:20C::PREV/BBH00999 Reference number from previous MT
A1 Linkages :16S:LINK
:16R:USECU
:97A::SAFE//1005791 ABN Amro Omnibus account
:35B:ISIN US3024941095 ISIN of underlying security
FMC GOLD CO
B Underlying Securities
:16S:USECU
:16R:CADETL
:98A::MEET//20050724 Date of general meeting
:98A::EFFD//20050731 Effective date of merger
:16S:CADETL

:16R:CACONF
:22F::CAOP//CASE Confirming posting of cash and
securities
:92D::NEWO//1,/1, Quantity of new shares exchanged
for old shares
:90B::OFFR//ACTU/USD0,02 Price received per share in addition
to derived security
:16R:SECMOVE
:35B:ISIN US3024941095 ID of security debited
FMC GOLD INC
:36B::PSTA//UNIT/135000, Quantity of shares posted
D Corporate Action
Confirmation
:98A::POST//20050822
:16S:SECMOVE
Date security were posted
D1 Securities Movement 1 :16R:SECMOVE

:22H:CRDB//CRED Credit to account
:35B:ISIN US5899751013 ID of security credited
D1 Securities Movement 2 MERIDIAN GOLD INC
:36B::PSTA//UNIT/135000, Quantity of shares posted
D2 Cash Movements :98A::POST//20050822 Date securities were posted
:98A::AVAL//20050824 Date securities will be available
:16S:SECMOVE
:16R:CASHMOVE
:19A::PSTA//USD2700, Cash amount paid
:98A::POST//20050731 Date cash was posted
D0130119
:98A::VALU//20050731 Value date of cash proceeds

:16S:CASHMOVE
:16S:CACONF
1.0 201
10.7 Bond Redemption

Scenario
This example illustrates the messages used for the notification and confirmation of a bond
redemption.
Scenario details
Situation Bond Redemption

Issue name ABB Finance Inc 6.8% due October 20, 2005
ISIN XS0037583977
Terms Bond will redeem 100% of par in EUR.
Relative dates Redemption date - October 20, 2005
Payment date - October 20, 2005
A bond issued by ABB Finance will mature and be redeemed at par, or 100% of nominal face
amount. The participant account owned by Deutsche Bank (a/c 56344) holds a face amount of
EUR120,000,000 in this bond issue.
The application of the bond redemption to the corporate action message, or series of messages,
is achieved by using the MTs 564 and 566:
• MT 564 for notification of the bond redemption
• MT 566 for confirmation of the bond redemption
Bond Redemption
MT 564 Notification of Redemption
MT 566 Confirmation of the Redemption
Account Account
D0130120
Servicer Owner
Message examples

MT 564
Field content Notes

Notification of a Bond :20C::CORP//REDM3681-011 Corporate action event reference
Redemption :23G:NEWM New message
:22F::CAEV//REDM Redemption

:25D::PROC//COMP
Mandatory event
Complete message
:16S:GENL
:16R:USECU
:35B:ISIN XS0037583977 Underlying security
ABB FINANCE INC 6.8% DUE
OCTOBER 20, 2005
:16R:ACCTINFO
B2 Account Information :97A::SAFE//56344 Deutsche Bank Omnibus account
:93B::ELIG//FAMT/120000000, Underlying balance eligible for CA
:16S:ACCTINFO
:16S:USECU
:16R:CADETL
:98A::REDM//20051020 Redemption date
:90A::REDM//PRCT/100, Bond redeemed at 100% of par
:16R:CAOPTN
:11A::OPTN//EUR Currency
:17B::DLFT//Y Option selected by default
:16R:SECMOVE
:22H::CRDB//DEBT
:35B:ISIN XS0037583977
Debit to account
Underlying security to be debited
E1 Securities Movement OCTOBER 20, 2005
:36B::PSTA//FAMT/120000000, Underlying position
:98A::PAYD//20051020 Date securities are debited
E2 Cash Movements :16S:SECMOVE
:16R:CASHMOVE
:22H::CRDB//CRED Credit of cash
:19A::ENTL//EUR120000000, Cash derived from redemption
:19A::GRSS//EUR120000000, Gross amount
:16S:CASHMOVE
:16S:CAOPTN
D0130121
1.0 203
MT 566
Field content Notes

Confirmation of a Bond :20C::CORP//REDM3681-011 Corporate action event reference
Redemption :23G:NEWM New message
:22F::CAEV//REDM Redemption
:16R:LINK
:13A::LINK//564
A1 Linkages :20C::PREV//154800003 Previous message
:16S:LINK
:16S:GENL
:16R:USECU
:97A::SAFE//56344 Deutsche Bank Omnibus account
:35B:ISIN XS0037583977 Underlying security
OCTOBER 20, 2005
:93B::CONB//FAMT/120000000,
:16S:USECU
:16R:CADETL
:98A::REDM//20051020 Redemption date
C Corporate Action Details :90A::REDM//PRCT/100,
:16S:CADETL
Bond redeemed at 100% of par
:16R:CACONF
:16R:SECMOVE
D Corporate Action
Confirmation
:22H::CRDB//DEBT Debit to account
:35B:ISIN XS0037583977 Underlying security to be debited
D1 Securities Movement ABB FINANCE INC 6.8% DUE
OCTOBER 20, 1997
:36B::PSTA//FAMT/120000000, Underlying position
D2 Cash Movements :98A::POST//20051020 Date securities were debited
:16S:SECMOVE
:16R:CASHMOVE
:22H::CRDB//CRED Credit of cash
:22H::CONT//CONT Cash paid on contractual basis
:19A::PSTA//EUR120000000, Cash posted to account
:19A::GRSS//EUR120000000, Gross amount
:98A::POST//20051020 Posting date
:98A::VALU//20051020 Value date
:16S:CASHMOVE
D0130122
:16S:CACONF

10.8 Rights Offer

Scenario
This example illustrates the messages used for the notification, instruction, entitlement calculation,
and confirmations of a rights offer.
Scenario details
Situation Rights Offer

Issue name Axa Ord
ISIN FR0000120628
Terms Rights are offered to existing shareholders where 1
right is given for every 2 ordinary shares held. 8 rights
may be tendered for 1 ordinary new share for a cost
of EUR 2.50 per new share. Rights may be sold or,
if otherwise not exercised, will lapse without value.
Critical dates Ex date 26 January, 2005
Rights trading period - 26 January to 08 February
2005
Rights expire - 08 February, 2005
Delivery date for new shares - 26 February, 2005
Response deadline date for subscription - 07 February,
2005
Response deadline date for sale - 06 February, 2005
Subscription date - 26 January, 2005
Axa Ord (FR0000120628) has announced a subscription rights issue. The Midland Securities
Omnibus account (a/c 890-99087) will receive 285,000 Axa Rights (FR0000120638) by virtue of
an underlying holding of 570,000 underlying shares of Axa. Midland will exercise their option to
subscribe to Axa New (FR0000120746) on 225,000 rights. The custodian will be instructed to sell
the remaining balance of 60,000 rights.
The application of the rights offer to the corporate action message or series of messages is achieved
by using the MTs 564, 565 and 566:
• MT 564 for notification of the rights offer
• MT 565 for instruction to exercice part of the rights
• MT 565 for instruction to sell the remaining rights
• MT 564 for entitlement calculation
• MT 567 for affirmation of the instruction to sell rights
• MT 566 for confirmation of the sale
• MT 566 for confirmation of the exercise
It is to be noted that in many countries, this process is handled in two events:

• Rights distribution (RHDI)
• Call on rights (EXRI)
1.0 205
Rights Offer
MT 564 Notification of Rights Offer

MT 565 for Instruction to Exercice Part of the Rights
MT 565 for Instruction to Sell the Remaining Rights
MT 567 for Affirmation of the Instruction to Sell Rights
Account MT 566 Confirmation of Sale Account
D0130123
Servicer MT 566 Confirmation of Exercise Owner
Message examples

MT 564
Field content Notes
Notification :20C::SEME//026-98556-87 Sender's reference
:20C::CORP//RHTS5689974 Corporate action event reference
Notification of a Rights Offer :23G:NEWM New announcement
:22F::CAEV//RHTS Right offer
:22F::CAMV//CHOS Mandatory with choice event
A General Information :98A::PREP//20050122

:25D::PROC//COMP
:16S:GENL
:16R:USECU
:35B:ISIN FR0000120628 Underlying security
AXA ORD
:16R:ACCTINFO
:97A::SAFE//890-99087 Midland Omnibus account
B Underlying Securities :93B::ELIG//UNIT/570000,
:16S:ACCTINFO
Underlying eligible for CA
:16S:USECU
B2 Account Information
:16R:INTSEC
:35B:ISIN FR0000120638 Identification of rights
AXA RIGHTS 08/02/01
:36B::QINT//UNIT/285000, Quantity of rights
:22F::DISF//RDDN Fractions are discarded
C Intermediate Securities
:22F::SELL//RENO Rights can be sold
:92D::RTUN//1,/2, 1 right for every 2 underlying shares
:98A::EXPI//20050208 Expiration of rights
:98A::POST//20050126 Date rights credited to account
:69A::TRDP//20050126/20050208 Period where rights are tradeable
:16S:INTSEC
:16R:CADETL
:98A::XDTE//20050126 Ex date
:16S:CADETL
:16R:CAOPTN
:22F::CAOP//EXER Exercise rights
:35B:ISIN FR0000120746 Security derived if rights are
AXA NEW exercised
:98A::RDDT//20050207 Response date for subscription
E Corporate Action Options :98A::PAYD//20050226 Paydate for new shares
:98A::SUBS//20050126 Subscription date
E Corporate Action Options 1 :69A::IACC//20050126/20050208 Exercise date
:92D::NWRT//1,/8, New shares derived for rights
:90B::SUPR//ACTU/FRF250, Subscription price for new share
E Corporate Action Options 2 :16S:CAOPTN
:16R:CAOPTN
E Corporate Action Options 3
:22F::CAOP//SLLE Sell rights
:17B::DLFLT//Y Option will be selected by default
:98A::RDDT//20050206 Response date for sell
:16S:CAOPTN
D0130124
:16R:CAOPTN
:22F::CAOP//LAPS Let rights offer lapse
:16S:CAOPTN
1.0 207
MT 565
Field content Notes

Instruction to Exercice Part :20C::CORP//RHTS5689974 Corporate action event reference
of the Rights :23G:NEWM New message
:22F::CAEV//RHTS Rights issue
:16R:LINK
:13A::LINK//564
A1 Linkages :20C::RELA//026-98556-87 Reference from 564 announcement
:16S:LINK
:16S:GENL
:16R:USECU
AXA ORD
:16R:ACCTINFO
:16S:ACCTINFO
:16S:USECU
D Corporate Action
Instruction
:16R:CAINST
:13A::CAON//001 Option number assigned by account
servicer
:22F::CAOP//EXER Exercise of rights
:36B::QINS//UNIT/225000, Instruction applies to 225000 rights
:16S:CAINST
D0130125

MT 565
Field content Notes

Instruction to Sell the :20C::CORP//RHTS5689974 Corporate action event reference
Remaining Rights :23G:NEWM New message
:16R:LINK
:13A::LINK//564
A1 Linkages :20C::RELA//026-98556-87 Reference from 564 announcement
:16S:LINK
:16S:GENL
:16R:USECU
AXA ORD
:16R:ACCTINFO
:16S:ACCTINFO
:16S:USECU
D Corporate Action
Instruction
:16R:CAINST
:13A::CAON//002 Option number assigned by account
servicer
:22F::CAOP//SLLE Sell rights
:36B::QINS//UNIT/60000, Instruction applies to 60000 rights
:16S:CAINST
D0130227
1.0 209
MT 564
Field content Notes
Notification
:16R:GENL
Entitlement :20C::CORP//RHTS5689974 Corporate action event reference
:23G:REPE Replace previous 564 with entitlement
calculation
:22F::CAEV//RHTS Right offer
:98C::PREP//200501260912
Mandatory with choice event
:25D::PROC//COMP Complete announcement
:16R:LINK
A1 Linkages :13A::LINK//565 Linked to instruction
:20C::RELA//055-569987 Reference number of instruction
:16S:LINK
A2 Linkages :16R:LINK
:13A:LINK//564
:20C::PREV//026-98556-87
:16S:LINK
:16S:GENL
:16R:USECU
B Underlying Securities :35B:ISIN FR0000120628
AXA ORD
Underlying security
:16R:ACCTINFO
:16S:ACCTINFO
:16S:USECU
:16R:INTSEC
C Intermediate Securities :35B:ISIN FR0000120638
AXA RIGHTS 08/02/01
Identification of rights
:36B::QINT//UNIT/285000, Quantity of rights

:22F::DISF//RDDN Fraction are discarded
:22F::SELL//RENO Rights can be sold
:92D::RTUN//1,/2, 1 right for every 2 underlying shares
:98A::EXPI//20050208 Expiration of rights
:98A::POST//20050126 Rights credited to account
:69A::TRDP//20050126/20050208 Period where rights are tradeable
:16S:INTSEC
D Corporate Action Details :16R:CADETL

:98A::XDTE//20050126 Ex date
:16S:CADETL
:16R:CAOPTN Option 1
:13A::CAON//001 Exercise rights
E Corporate Action Options :22F::CAOP//EXER
:17B::DFLT//N
Option will not be selected by default
:16R:SECMOVE Credit of new shares

:22H::CRDB//CRED New shares derived from exercise of
E Corporate Action Options 1 :35B:ISIN FR0000120746 rights
AXA NEW Quantity of new shares derived
E1 Securities Movement :36B::PSTA//UNIT/28125, (1 new share exchanged for 8 rights)
Date new shares are credited to account
:98A::PAYD//20050226
E2 Cash Movements :16S:SECMOVE Debit to account
:16R:CASHMOVE Cash to be paid for new securities
:22H::CRDB//DEBT
:19A::ENTL//EUR562500, Date cash will be debited
:98A::PAYD//20050212
:16S:CASHMOVE
:16S:CAOPTN
D0130126

MT 567
Field content Notes

Status and Processing Advice :16R:GENL
Affirmation of the Instruction to :20C::CORP//RHTS21754 Corporate action reference
Sell Rights :23G:INST Instruction status
A1 Linkages 1 :16R:LINK
:13A::LINK//565 Releated message type
:20C::RELA//055-569988 Previous message reference
A2 Status :16S:LINK
:16R:STAT
:13A::IPRC//PACK Accepted for further processing
:16S:STAT
:16S:GENL
:16R:CADETL
B Corporate Action Details :13A::CAON//002
:22F:CAOP//SLLE
Corporate action option number
Sell option
:36B::STAQ//UNIT/60000, Status quantity
:16S:CADETL
D0130228
1.0 211
MT 566
Field content Notes

Confirmation of Sale :20C::CORP//RHTS5689974 Corporate action event reference
:22F::CAEV//RHTS Rights offer
A General Information :98C::PREP//200502050526 Preparation date/time
:13A::LINK//564 Linked to entitlement
:20C::PREV//026-98663-33 Reference of previous message
A1 Linkages 2 :16S:LINK
:16R:LINK
:13A::LINK//565 Linked to instruction
:20C::RELA//055-569988 Reference of instruction
:16S:LINK
:16S:GENL
:16R:USECU
B Underlying Securities :97A::SAFE//890-99087
:35B:ISIN FR0000120628
Midland Omnibus account
Underlying security
AXA ORD
:16S:USECU
:16R:CACONF
:13A::CAON//002 Second option
:22F::CAOP//SLLE Sale of rights
:90B::MRKT//ACTU/EUR2,65 Market price for which rights were sold
:16R:SECMOVE
:35B:ISIN FR0000120638 Rights debited as a result of sale
AXA RIGHTS 08/02/01
D Corporate Action
Confirmation :36B::PSTA//UNIT/60000, Quantity of rights sold
:98A::POST//20050205 Date rights were debited
D1 Securities Movement :16S:SECMOVE
:16R:CASHMOVE
D2 Cash Movements :22H::CRDB//CRED Credit to account
:19A::PSTA//EUR159000, Cash received for right sale
(60000 x EUR2.65)
:98A::POST//20050205 Date cash was credited
:16S:CASHMOVE
:16S:CACONF D0130127

MT 566
Field content Notes

Confirmation of an Exercise :20C::CORP//RHTS5689974 Corporate action event reference
:22F::CAEV//RHTS Rights offer
A General Information :98C::PREP//200502110425 Preparation date/time
:13A::LINK//564 Linked to entitlement
:20C::PREV//026-98663-33 Reference of previous message
A1 Linkages 2 :16S:LINK
:16R:LINK
:13A::LINK//565 Linked to instruction
:20C::RELA//055-569987 Reference of instruction
:16S:LINK
:16S:GENL
:16R:USECU
B Underlying Securities :97A::SAFE//890-99087
:35B:ISIN FR0000120628
Midland Omnibus account
Underlying security
AXA ORD
:16S:USECU
:16R:CACONF
:13A::CAON//001 First option
:22F::CAOP//EXER Exercise of rights
:16R:SECMOVE
D Corporate Action
Confirmation
:35B:ISIN FR0000120638
AXA RIGHTS 08/02/2005
Rights debited as a result of exercise
:36B::PSTA//UNIT/225000, Quantity of rights exercised

D1 Securities Movement
:98A::POST//20050226 Date rights were debited
:16S:SECMOVE
D1 Securities Movements :16R:SECMOVE
:22H::CRDB//CREDT Credit account
:35B:ISIN FR0000120746 New shares as a result of exercise
D2 Cash Movements AXA NEW
:36B::PSTA//UNIT/28125, Quantity of new shares
:98A::POST//20050226 Date shares were credited
:16S:SECMOVE
:16R:CASHMOVE
:22H::CRDB//DEBT Credit to account
:19A::PSTA//EUR712500, Cash received for subscription
(28125 x EUR2.50)
:98A::POST//20050226 Date cash will be debited
:16S:CASHMOVE
:16S:CACONF
D0130128
1.0 213
10.9 Change of Name

Scenario
The following example illustrates the messages used for the notification and confirmation of a
change of name.
Change of name
Situation Change of Name

Issue name Eckler Industries
ISIN US5661129086
Terms Company has changed name to Smart Choice
Automotive.
Critical dates Effective date - March 19, 2005
At the AGM of Eckler, shareholders approved the decision to change the company's name. Swiss
Bank Corp private client account (a/c 813444-9) holds a position of 203,000.
The application of the change of name to the corporate action message or series of messages is
achieved by using one MT 564 for notification of the change of name.
Change of name
MT 564 Notification of Name Change
Account Account
D0130130
Servicer Owner
Message examples

MT 564
Field content Notes

Notification of a Change of :20C::CORP//NAME556321 Corporate action event reference
Name :23G:NEWM New message
:22F::CAEV//NAME Name change

:98A::PREP//20050301
Mandatory event
:16S:GENL
:16R:USECU
:35B::ISIN US5661129086 Underlying security
ECKLER INDUSTRIES
:16R:ACCTINFO
B2 Account Information :97A::S AFE//813444-9 Swiss Bank Corp private client
account
:16S:ACCTINFO
:16S:USECU
:16R:CADETL
:98A::EFFD//20050319 Effective date of new name
D Corporate Action Details :70E::NAME//SMART CHOICE New name
AUTOMOTIVE
:16S:CADETL
D0130131
1.0 215
10.10 Stock Split

Scenario
This example illustrates the messages used for the notification and confirmation of a stock split,
or change in nominal value.
Scenario details
Situation Stock Split / Change in Nominal Value

Issue name Daimler Benz AG EUR 50
ISIN DE0000655466
Terms Nominal value will change from EUR 50 to EUR 5,
which results in a 10 for 1 stock split.
Critical dates Effective date - March 19, 2005
Available for sale - April 24, 2005
At the AGM of Daimler Benz, shareholders approved a reduction in the stated nominal value per
share of outstanding Daimler Benz stock. Paribas custody account (a/c 01-00233644) held a
pre-split position of 86,600 shares. A new ISIN will be assigned to the resulting nominal value 5
EUR shares (DE0000655478).
The application of the stock split to the corporate action message or series of messages is achieved
by using the MTs 564 and 566:
• MT 564 for notification of the stock split
• MT 566 for confirmation of the stock split
Stock Split
MT 564 Notification of Stock Split
MT 566 Confirmation of the Stock Split

D0130133
Account Account
Servicer Owner
Message examples

MT 564
Field content Notes

Notification of a Stock Split :20C::CORP//SPLIT-88997 Corporate action event reference
:22F::CAEV//SPLF Stock split

:98A::PREP//20050410
Mandatory event
Preparation date of announcement
:16S:GENL
:16R:USECU
:35B::ISIN DE0000655466 Underlying security
DAIMLER BENZ AG EUR50
:16R:ACCTINFO
B2 Account Information :97A::S AFE//01-00233644 Paribas custody account
:16S:ACCTINFO
:16S:USECU
:16R:CADETL
:98A::EFFD//20050319 Effective date of split
:16S:CADETL
:16R:CAOPTN
:13A::CAON//001 Option number (only one)
:22F::CAOP//SECU Securities
:17B::DFLT//Y Option selection by default
:92D::NEWO//10,/1, Ratio of new shares for old
:16R:SECMOVE
:22H::CRDB//DEBT
:35B:ISIN DE0000655466
Debit account
Old security
E1 Securities Movement 1 :36B::PSTA//UNIT/86600, Quantity of old security to be
delivered
:98A::PAYD//20050420 Date securities will be delivered
E1 Securities Movement 2 :16R:SECMOVE
:16R:SECMOVE
:35B:ISIN DE0000655478 New security
:36B::PSTA//UNIT/866000, Quantity of new securities to be
received
:98A::PAYD//20050420 Date securities will be received
:98A::AVAL//20050424 Available for sale date
D0130134
:16S:SECMOVE
:16S:CAOPTN
1.0 217
MT 566
Field content Notes

Confirmation of a Stock Split :20C::CORP//SPLIT-88997 Corporate action event reference
:22F::CAEV//SPLF Stock split
:16R:LINK
:20C::PREV//546477-778 Reference of previous announcement
:16S:LINK
:16S:GENL
B Underlying Securities :16R:USECU

:97A::S AFE//01-00233644 Paribas custody account
:35B:ISIN DE0000655466 Underlying security
:16S:USECU
:16R:CADETL
:98A::EFFD//20050420 Effective date of split
:16S:CADETL
:16R:CACONF
:13A::CAON//001 Option numner (only one)
:22F::CAOP//SECU Securities
:92D::NEWO//10,/1, Ratio of new shares for old
:16R:SECMOVE
:35B:ISIN DE0000655466
D Corporate Action
Confirmation DAIMLER BENZ AG EUR50
Old security
:36B::PSTA//UNIT/86600, Quantity of old securities delivered

D1 Securities Movement 1 :98A::POST//20050420 Date securities were delivered
:16S:SECMOVE
D1 Securities Movement 2 :16R:SECMOVE

:35B:ISIN DE0000655478 New security
:36B::PSTA//UNIT/866000, Quantity of new securities received
:98A::POST//20050420 Date securities were received
:98A::AVAL//20050424 Available for sale date
:16S:SECMOVE
:16S:CACONF
D0130135

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Corporate Action (CA) Transaction Flows

8 Corporate Action (CA) Transaction Flows

• the options available to the shareholder, response deadlines

• the specific impact on a safekeeping account

2. MT 565 Corporate Action Instruction

3. MT 566 Corporate Action Confirmation

4. MT 567 Corporate Action Status and Processing Advice

5. MT 568 Corporate Action Narrative

8.2 Corporate Actions

Corporate Actions information flow

Corporate Actions information flow

Stock Exchange Financial Publication Financial Publication

Sub-Custodian Global Investment

How Corporate Actions are used

Transaction flow Message type

156 Standards May 2005 Release

Transaction flow Message type

8.3 Corporate Actions - Chronology of Events

Corporate Actions timeline

Corporate Action chronology of events

Corporate Action Chronology of Events

MT 564 MT 565 MT 564 MT 566

of Event Entitled Position Account Posting

8.4 MT 564 Corporate Action Notification -

• the variation in the relevant information pertinent to each type of event

8.5 Corporate Action Messages

Default option/standing instructions

158 Standards May 2005 Release

Dates and date codes

Rates and ratios

Linking messages and references

Details sequence versus options sequence

8.5.2 Preliminary to Confirmed Announcements

160 Standards May 2005 Release

Timeline showing announcement

MT 564 Corporate Action Notification - Announcement

Local Agent Account

MT 564 MT 564 MT 564

8.5.3 Mandatory versus Voluntary

Mandatory Corporate Action

Mandatory Corporate Action with Options

Voluntary Corporate Action

Summary of Corporate Actions

8.6 MT 565 Corporate Action Instruction

• in a voluntary event, if no instruction is received by a deadline date, an Account Owner may

162 Standards May 2005 Release

MT 565 Corporate Action Instruction

MT 564 MT 564 MT 565

8.7 MT 564 Corporate Action Notification - Entitlement

• the option selected by the Account Owner

MT 564 Corporate Action Notification - Entitlement

Announcement Ex Date Payment Date

MT 564 MT 564 MT 564

164 Standards May 2005 Release

8.8 MT 566 Corporate Action Confirmation

MT 566 Corporate Action Confirmation

MT 564 MT 564 MT 565 MT 564 MT 566

8.9 MT 567 Corporate Action Status and Processing

• to acknowledge the acceptance or rejection of a cancellation

• to advise an Account Owner of a delay in payment by an issuer, or to provide an explanation

MT 567 Corporate Action Status and Processing Advice

MT 567 CA Status and Processing Advice