Sufficient Unit Check Process

Table of Contents

Sufficient Unit Check Process Flow

Sufficient Unit Check Process

StepDescriptionPartyRecipientMessage Reference
1The CSP commences Batch Settlement.CSP--
2

The CSP calculates the Novated Net Delivery Positions (NNDPs).

The NNDPs calculated will be the same as the NNDPs reported in the Netted Obligation Report, with the exception of the following scenarios which may occur after the Netted Obligation Report is generated:

  • Change to the first settlement date of the security;
  • Creation, update or removal of a corporate action;
  • Action by ASX Operations or ASX Clear to cancel, reschedule, suspend or transfer Settlement Instructions resulting from the management of a default event or pursuant to a court order or an order from an authorised regulator.
CSP--
3

The CSP determines whether there are sufficient units available in the Account (HIN).

If there are insufficient units available in the Account (HIN), refer to Step 4; "Insufficient Units".

If there are sufficient units available in the Account (HIN), or payment is being processed for an mFund Application or Redemption Order Request, refer to Step 7; "Sufficient Units/mFund Order Payment".

CSP--
Insufficient Units
4The CSP will perform the settlement algorithm. CSP--
5Where the settlement algorithm selects a non-novated settlement obligation to fail settlement, the CSP will invoke the Non-Novated Settlement Obligations ProcessCSP--
6

Where the settlement algorithm selects Novated Settlement Obligation to fail settlement, the CSP will invoke Novated Settlement Obligations Process

CSP--
Sufficient Units/mFund Order Payment
7

Where all Accounts (HINs) have sufficient units, or payment is being processed for an mFund Application or mFund Redemption Order Request, the CSP will invoke the Aggregate Funds Obligation Process.

CSP--




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