Clearstream Fund Centre1 reminds clients that the implementation of ISO 20022 messaging for general meetings (GMs) is planned for
18 November 2024
General Meeting Services
CFCL offers services for General Meetings that cover all our proxy voting markets and eligible instrument types. It is designed to support domestic and cross-border investment funds holders in their governance rights and to help facilitate active ownership in meeting corporate governance guidelines, by delivering General Meeting notifications and processing voting instructions.
CFCL offers services for General Meetings to assist clients and the ultimate beneficial owner to execute their voting rights.
ISO 20022 rollout and impact on clients
CFCL will replace ISO 15022 messages for general meetings and adopt the full suite of ISO 20022 compliant messages as of 18 November 2024, with the exception of the notification, for which a MT564 coexistence will continue.
ISO 15022 instruction messages will no longer be supported and all client instructions in ISO 15022 will be rejected (including MT599). ISO 20022 messages contain more structured fields and better support the STP processing from issuers to end investors and vice versa. CFCL is updating its service in order to comply with regulatory demands while considering market demands.
ISO 20022 messages will be exchanged via SwiftNet FINplus. Clients must ensure their connectivity, including new message subscriptions and, if necessary, a new RMA key exchange to allow transmission of messages via the SwiftNet FINplus network. For clients that do not support the ISO 20022 message format for meeting instructions, CFCL will provide a new General Meeting module within CFS Portal as an alternative.
This module will offer multiple dedicated query options, standardised fields and ways to create or manage instructions manually.
ISO 20022 is an open standard built for the specific needs in the general meetings area. These messages have a higher acceptance by non-Intermediaries and can eliminate many manual processes in individual markets.
The ISO 20022 messages for general meetings used by CFCL will be documented on Swift MyStandards. Clients can refer to this site for an overview of the message structure, allowed fields or specific conditions.
Further information
For further information, please contact SCE-project@clearstream.com, Clearstream Fund Centre Client Service or your Relationship Manager.
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1. Clearstream Fund Centre (CFCL) refers to Clearstream Fund Centre S.A. at registered office at 42, avenue John F. Kennedy, L-1855 Luxembourg, and registered with the Luxembourg Trade and Companies Register under number B-261691.
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