Table of Contents
What is MT564 swift message?
— MT 564 – Corporate Action Notification Provides an account owner with details of a corporate action event along with possible elections and entitlements available to the account owner. It can be sent as a preliminary advice and subsequently replaced by another MT564 with complete or confirmed information.
What is the usage of MT564 MT568 MT566?
MT564 Scope This message is used to provide an account owner with the details of a corporate action event along with the possible elections or choices available to the account owner. It can be initially sent as a preliminary advice and subsequently replaced by another MT 564 with complete or confirmed information.
What is MT566 swift message?
MT566 Scope This message is used 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. This message may also be used to: reverse a previously sent corporate action confirmation.
What is Dvop corporate action?
DVOP. Dividend Option. Distribution of a dividend to shareholders with a choice of benefit to receive. Shareholders may choose to receive shares or cash. To be distinguished from DRIP as the company creates new share capital in exchange for the dividend rather than investing the dividend in the market.
What is mcal in corporate action?
Meaning. Full Call/Early Redemption: The redemption of an entire issue outstanding of securities, for example, bonds, preferred equity, funds, by the issuer or its agent, for example, asset manager, before final maturity.
What is a SWIFT MT 900 and 910?
The SWIFT MT910 message is called Confirmation of Credit. To put it briefly, the SWIFT MT910 is sent to an account owner or to a party authorized by the account owner to receive that information. It indicates that funds have been credited to an account. Therefore the name Confirmation of Credit.
What is SWIFT MT and MX?
SWIFT MT is a legacy non-XML proprietary message format. MX messages are the XML-based replacement for MT messages. Both can coexist and be dealt with through translation rules.
What is partial redemption with pool factor reduction?
Partial Redemption wWith Pool Factor Reduction (PRED) Description: Securities are redeemed in part before their scheduled final maturity date without reduction of the nominal value of the securities. This is commonly done by pool factor reduction.
What is exchange offer corporate action?
An offer by a company to trade stocks or bonds for other stocks or bonds. For example, a firm may redeem bonds with other bonds of equivalent value. This often occurs when the firm has poor cash flow. Likewise, a company may redeem stocks in itself for other stocks, either in the same or another firm.
What is an mt564 message?
Scope of the message MT564 This message is sent by an account servicer (account servicing institution) to an account owner or its designated agent. The account servicer may be a local agent (sub-custodian) acting on behalf of their global custodian customer, or a custodian acting on behalf of an investment management institution or a broker/dealer.
What is the purpose of an MT 564?
It can be initially sent as a preliminary advice and subsequently replaced by another MT 564 with complete or confirmed information. This message will also be used to provide the account owner with details of the impact a corporate action event will have on a safekeeping or cash account, for example, entitlement calculation.
What is an MT 564 corporate action narrative?
The MT 564 can be used to announce the basic details of a proxy voting event. For the complete agenda an MT 568 Corporate Action Narrative, using the same corporate action reference in the linkages sequence, should be used.