DRP/BSP Election Enquiry Process

DRP/BSP Election Enquiry Process Flow

DRP/BSP Election Enquiry Process

Step

Description

Party

Recipient/Observer

Message Reference

API Contract

Step

Description

Party

Recipient/Observer

Message Reference

API Contract

1

The Controlling Participant populates the Corporate Action Election Enquiry with the following:

  1. Mandatory ISO 20022 elements defined in the Message Usage Guidelines;

  2. Optional ISO 20022 elements defined in the Message Usage Guidelines where applicable to the request; and

  3. Related ASX business values and rules applicable to the request.

The Controlling Participant sends a Corporate Action Election Enquiry to the CSP, initiating a DRP/BSP Election Enquiry.

Controlling Participant

CSP

Corporate Action Election Enquiry (evnt_749)

-

2

The CSP validates the Corporate Action Election Enquiry against the schema and business validation rules.

If the Corporate Action Election Enquiry is schema and business valid, then refer to Step 3; "On Success".

If the Corporate Action Election Enquiry is not schema or business valid, then refer to Step 22; "On Fail".

CSP

-

-

-

On Success

3

The CSP records the DRP/BSP Election Enquiry as pending.

CSP

-

-

-

4

The CSP sends a Transaction Acknowledgement Advice (Accepted) to the Controlling Participant, advising that their Corporate Action Election Enquiry has been accepted by the CSP and is pending.

CSP

Controlling Participant

Transaction Acknowledgement Advice (comm_809)

AssetServicing.DividendElectionQuery (DividendElectionQuery)

5

The CSP sends a Corporate Action Election Enquiry to the Issuer (Registry), providing the DRP/BSP Election Enquiry details that were submitted in the Corporate Action Election Enquiry sent by the Controlling Participant.

CSP

Issuer (Registry)

Corporate Action Election Enquiry (evnt_749)

AssetServicing.DividendElectionQuery (DividendElectionQuery)


BMW.ExpectingReply (ExpectingReply)

6

If the Issuer (Registry) accepts the DRP/BSP Election Enquiry, refer to Step 7 "Acceptance".

If the Issuer (Registry) rejects the DRP/BSP Election Enquiry, refer to Step 13 "Rejection".

If the Issuer (Registry) takes no action within one business day, refer to Step 18 "No Response".

Issuer (Registry)

-

-

-

Acceptance

7

The Issuer (Registry) processes the DRP/BSP Election Enquiry.

Issuer (Registry)

-

-

-

8

The Issuer (Registry) populates the Corporate Action Election with the following:

  1. Mandatory ISO 20022 elements defined in the Message Usage Guidelines;

  2. Optional ISO 20022 elements defined in the Message Usage Guidelines where applicable to the request; and

  3. Related ASX business values and rules applicable to the request.

The Issuer (Registry) sends a Corporate Action Election to the CSP, providing the details of the DRP/BSP Election.

Issuer (Registry)

CSP

Corporate Action Election (evnt_742)

-

9

The CSP validates the Corporate Action Election against the schema and business validation rules.

If the Corporate Action Election is schema and business valid, then refer to Step 10; "Acceptance".

If the Corporate Action Election is not schema or business valid, then refer to Step 23; "On Fail".

CSP

-

Corporate Action Election (evnt_742)

-

10

The CSP records the DRP/BSP Election Enquiry as completed.

CSP

-

-

-

11

The CSP sends a Corporate Action Election to the Controlling Participant, providing the details of the DRP/BSP Election.

CSP

Controlling Participant

Corporate Action Election (evnt_742)

AssetServicing.DividendElectionQuery (DividendElectionQuery) [Archived]

12

The CSP sends a Corporate Action Election Status Advice to the Issuer (Registry), advising that the DRP/BSP Election Enquiry has been completed.

CSP

Issuer (Registry)

Corporate Action Election Status Advice (evnt_743)

AssetServicing.DividendElectionQuery (DividendElectionQuery) [Archived]


BMW.ExpectingReply (ExpectingReply) [Archived]

Rejection

13

The Issuer (Registry) populates the Transaction Acknowledgement Advice with the following:

  1. Mandatory ISO 20022 elements defined in the Message Usage Guidelines;

  2. Optional ISO 20022 elements defined in the Message Usage Guidelines where applicable to the request; and

  3. Related ASX business values and rules applicable to the request.

The Issuer (Registry) sends a Transaction Acknowledgement Advice (Rejected) to the CSP, advising that they reject the DRP/BSP Election Enquiry.

Issuer (Registry)

CSP

Transaction Acknowledgement Advice (comm_809)

-

14

The CSP validates the Transaction Acknowledgement Advice (Rejected) against the schema and business validation rules.

If the Corporate Action Election Status Advice (Rejected) is schema and business valid, then refer to Step 15; "Rejection".

If the Corporate Action Election Status Advice (Rejected) is not schema or business valid, then refer to Step 24; "On Fail".

CSP

-

-

-

15

The CSP processes the DRP/BSP Enquiry Election Enquiry rejection.

CSP

-

-

-

16

The CSP sends a Transaction Acknowledgement Advice (Rejected) to the Controlling Participant, advising that their DRP/BSP Election Enquiry was rejected by the Issuer (Registry).

CSP

Controlling Participant

Transaction Acknowledgement Advice (comm_809)

AssetServicing.DividendElectionQuery (DividendElectionQuery) [Archived]

17

The CSP sends a Transaction Acknowledgement Advice (Accepted) to the Issuer (Registry), confirming their DRP/BSP Election Enquiry rejection.

CSP

Issuer (Registry)

Transaction Acknowledgement Advice (comm_809)

AssetServicing.DividendElectionQuery (DividendElectionQuery) [Archived]


BMW.ExpectingReply (ExpectingReply) [Archived]

No Response

18

The End of Day process is triggered to perform ASX Housekeeping of pending DRP/BSP Election Enquiries.

CSP

-

-

-

19

The CSP performs cancellation of the pending DRP/BSP Election Enquiries.

CSP

-

-

-

20

The CSP sends a Transaction Acknowledgement Advice (Cancelled) to the Controlling Participant, advising that their DRP/BSP Election Enquiry was cancelled by ASX Housekeeping.

CSP

Controlling Participant

Transaction Acknowledgement Advice (comm_809)

AssetServicing.DividendElectionQuery (DividendElectionQuery) [Archived]

21

The CSP sends a Transaction Acknowledgement Advice (Cancelled) to the Issuer (Registry), advising that a DRP/BSP Election Enquiry was cancelled by ASX Housekeeping.

CSP

Issuer (Registry)

Transaction Acknowledgement Advice (comm_809)

AssetServicing.DividendElectionQuery (DividendElectionQuery) [Archived]


BMW.ExpectingReply (ExpectingReply) [Archived]

On Fail

22

If the Corporate Action Election Enquiry fails schema or business validation, the CSP will send the Controlling Participant:

  • An invalid Transaction Notification with the relevant error code for schema failure; or

  • A rejected Transaction for business validation failure.

CSP

Controlling Participant

Invalid Transaction Notification (comm_807)

Rejected Transaction (comm_808)

-

23

If the Corporate Action Election fails schema or business validation, the CSP will send the Issuer (Registry):

  • An invalid Transaction Notification with the relevant error code for schema failure; or

  • A rejected Transaction for business validation failure.

CSP

Issuer (Registry)

Invalid Transaction Notification (comm_807)

Rejected Transaction (comm_808)

-

24

If the Transaction Acknowledgement Advice (Rejected) fails schema or business validation, the CSP will send the Issuer (Registry):

  • An invalid Transaction Notification with the relevant error code for schema failure; or

  • A rejected Transaction for business validation failure.

CSP

Issuer (Registry)

Invalid Transaction Notification (comm_807)

Rejected Transaction (comm_808)

-

Business Values and Rules

Corporate Action Election Enquiry - Controlling Participant

The Controlling Participant sends a Corporate Action Election Enquiry to the CSP, initiating a DRP/BSP Election Enquiry.

ASX Element Name

ISO 20022 Element

Guidelines

ASX Element Name

ISO 20022 Element

Guidelines

Transaction Id

Statement Requested / Number / Proprietary Number / Identification

The unique identifier of a transaction within the CSP. Further details of Transaction Identifications are detailed here.

Query Type

Statement Type / Proprietary / Identification

Identifies the type of query on which the response is prepared. In this case, Dividend Option (DVOP) must be populated.

Account Identifier (HIN)

Safekeeping Account / Identification

Identifies the Account (HIN) that owns the securities entitled to the DRP/BSP Election that the enquiry is being sent for.

Security Code

Additional Query Parameters / Financial Instrument Identification

Identifies the security that is the target of the DRP/BSP Election that the enquiry is being sent for. Either a Security Code, an ISIN or both elements may be populated. Where both elements are present, the ISIN and Security Code must refer to the same security. Further details of Security Identification are detailed here.

Transaction Acknowledgement Advice - Controlling Participant

The CSP sends a Transaction Acknowledgement Advice (Accepted) to the Controlling Participant:

  • advising that their Corporate Action Election Enquiry has been accepted by the CSP and is pending with the Issuer (Registry); and

  • advising that their DRP/BSP Election Enquiry was rejected by the Issuer (Registry); or

  • advising that their DRP/BSP Election Enquiry was cancelled by ASX Housekeeping.

ASX Element Name

ISO 20022 Element

Guidelines

ASX Element Name

ISO 20022 Element

Guidelines

Transaction Id

Related Reference / Reference

Indicates provided on the Corporate Action Election Enquiry. Further details of Transaction Identifications are detailed here.

Status Code

Status Code

Indicates the status of the Corporate Action Election Enquiry.

Where the Transaction Acknowledgement Advice is sent to advise that the Corporate Action Election Enquiry has been accepted by the CSP, Accepted (ACCP) will be present.

Where the Transaction Acknowledgement Advice is sent to advise that the Corporate Action Election Enquiry was rejected by the Issuer (Registry), Rejected (REJT) will be present.

Where the Transaction Acknowledgement Advice is sent to advise that the Corporate Action Election Enquiry was cancelled by ASX Housekeeping, Cancelled (CANS) will be present.

Registry Reject Reason

Report / Request Handling / Description

The reason that an Issuer (via the Registry) has not been able to process a Corporate Action Election Enquiry. An election enquiry can be rejected by the Issuer (registry) where there is no election recorded (NDRP) or where multiple elections are recorded (MDRP).

Corporate Action Election Enquiry - CSP

The CSP sends a Corporate Action Election Enquiry to the Issuer (Registry), providing the DRP/BSP Election Enquiry details that were submitted in the Corporate Action Election Enquiry sent by the Controlling Participant.

ASX Element Name

ISO 20022 Element

Guidelines

ASX Element Name

ISO 20022 Element

Guidelines

Transaction Id

Statement Requested / Number / Proprietary Number / Identification

Indicates the Transaction Id provided on the Corporate Action Election Enquiry. Further details of Transaction Identifications are detailed here.

Query Type

Statement Type / Proprietary / Identification

Indicates the type of query on which the response is prepared. In this case, Dividend Option (DVOP) will be present.

Account Identifier (HIN)

Safekeeping Account / Identification

Indicates the Account (HIN) provided on the Corporate Action Election Enquiry.

Security Code

Additional Query Parameters / Financial Instrument Identification

Indicates the Security Code provided on the Corporate Action Election Enquiry. Both Security Code and ISIN will always be present on the Corporate Action Election Enquiry sent from the CSP. Further details of Security Identification are detailed here.

Corporate Action Election - Issuer (Registry)

The Issuer (Registry) sends a Corporate Action Election to the CSP, providing the details of the DRP/BSP Election.

ASX Element Name

ISO 20022 Element

Guidelines

ASX Element Name

ISO 20022 Element

Guidelines

Transaction Id

Other Document Identification / Identification / Account Owner Document Identification

Identifies the Transaction Id of the Corporate Action Election Enquiry. Further details of Transaction Identifications are detailed here.

Corporate Action Event Id

Corporate Action Event Identification

Identifies a Corporate Action allocated by the ASX. In this case, the fixed value 'NONREF' must be populated.

Security Code

Financial Instrument Identification

Identifies the Security Code provided on the Corporate Action Election Enquiry.

Account Identifier (HIN)

Safekeeping Account

Identifies the Account (HIN) that owns the securities entitled to the DRP/BSP election.

Option Number

Option Number / Code

Unsolicited (UNSO) must be populated.

The below attributes identify the Instructed Quantity

Instructed Quantity Code must be provided for a full DRP/BSP Election. For a partial DRP/BSP Election, the partial number of securities can be expressed as a number under Unit Quantity OR as a percentage under Instructed Percentage Rate.

Unit Quantity

Securities Quantity or Instructed Quantity / Quantity / Unit

Identifies the quantity of securities that are allotted for the full or partial DRP/BSP Election. Where provided, the Unit Quantity must be greater than or equal to zero with precision per the security type of the Security Code and the Instructed Percentage Rate must be zero.

Instructed Quantity Code

Securities Quantity or Instructed Amount / Instructed Quantity Code

Identifies the DRP/BSP Election applies to the entire eligible balance of the underlying securities (a full DRP/BSP Election). In this case, All Securities (QALL) must be populated.

Instructed Percentage Rate

Additional Details _evnt_742 / Instructed Percentage Rate

Identifies the percentage of securities to participate in the partial DRP/BSP Election. Where provided, the Instruction Percentage Rate must be a number greater than zero and less than 100 and the Instructed Quantity must be zero.

The below attribute below identifies the Event Type <EvtTp>

Dividend with Options

Code / Dividend Option

Identifies the Corporate Action Election is for a Dividend Option (DVOP).

The below attributes identify the Option Type <OptnTp>

Cash

Cash

Identifies the DRP/BSP Election has consideration paid in Cash (CASH).

Security

Security

Identifies the DRP/BSP Election has consideration paid in Securities (SECU).

Bonus Share Plan

Bonus Share Plan

Identifies the DRP/BSP Election is for a Bonus Share Plan (BSPL).

Corporate Action Election - Controlling Participant

The CSP sends a Corporate Action Election to the Controlling Participant, providing the details of the DRP/BSP Election.

ASX Element Name

ISO 20022 Element

Guidelines

ASX Element Name

ISO 20022 Element

Guidelines

Transaction Id

Other Document Identification / Identification / Account Owner Document Identification

Indicates the Transaction Id of the Corporate Action Election Enquiry. Further details of Transaction Identifications are detailed here.

Corporate Action Event Id

Corporate Action Event Identification

Indicates the Corporate Action Event Id provided on the Corporate Action Election. In this case, 'NONREF' will be present.

Security Code

Financial Instrument Identification

Indicates the Security Code provided on the Corporate Action Election Enquiry submitted by the Controlling Participant. Both Security Code and ISIN will always be present on the Corporate Action Election sent from the CSP. Further details of Security Identification are detailed here.

Account Identifier (HIN)

Safekeeping Account

Indicates the Account (HIN) provided on the Corporate Action Election.

Option Number

Option Number / Code

Unsolicited (UNSO) will be present.

The below attributes identify the Instructed Quantity

Instructed Quantity Code will be provided for a full DRP/BSP Election. For a partial DRP/BSP Election, the partial number of securities will be expressed as a number under Unit Quantity OR as a percentage under Instructed Percentage Rate.

Unit Quantity

Securities Quantity or Instructed Quantity / Quantity / Unit

Indicates the quantity of securities that are allotted for the full or partial DRP/BSP Election. Where provided, the Unit Quantity will be greater than or equal to zero with precision per the security type of the Security Code and the Instructed Percentage Rate will be zero.

Instructed Quantity Code

Securities Quantity or Instructed Amount / Instructed Quantity Code

Indicates the DRP/BSP Election applies to the entire eligible balance of the underlying securities (a full DRP/BSP Election). In this case, All Securities (QALL) will be populated.

Instructed Percentage Rate

Additional Details _evnt_742 / Instructed Percentage Rate

Indicates the percentage of securities to participate in the partial DRP/BSP Election. Where provided, the Instruction Percentage Rate will be a number greater than zero and less than 100 and the Instructed Quantity will be zero.

The below attribute below identifies the Event Type <EvtTp>

Dividend with Options

Code / Dividend Option

Indicates the Corporate Action Election is for a Dividend Option (DVOP).

The below attributes identify the Option Type <OptnTp>

Cash

Cash

Indicates the DRP/BSP Election has consideration paid in Cash (CASH).

Security

Security

Indicates the DRP/BSP Election has consideration paid in Securities (SECU).

Bonus Share Plan

Bonus Share Plan

Indicates the DRP/BSP Election is for a Bonus Share Plan (BSPL).

Corporate Action Election Status Advice

The CSP sends a Corporate Action Election Status Advice to the Issuer (Registry), advising that the DRP/BSP Election Enquiry has been completed.

ASX Element Name

ISO 20022 Element

Guidelines

ASX Element Name

ISO 20022 Element

Guidelines

Transaction Id

Instruction Identification / Identification

Indicates the Transaction Id of the Corporate Action Election Enquiry. Further details of Transaction Identifications are detailed here.

Corporate Action Event Id

Corporate Action Event Identification

Indicates the Corporate Action Event Id provided on the Corporate Action Election. In this case, 'NONREF' will be present.

Security Code

Financial Instrument Identification

Indicates the Security Code provided on the Corporate Action Election. Both Security Code and ISIN will always be present on the Corporate Action Election Status Advice sent from the CSP. Further details of Security Identification are detailed here.

Account Identifier (HIN)

Safekeeping Account

Indicates the Account (HIN) provided on the Corporate Action Election.

Option Number

Option Number / Code

Unsolicited (UNSO) will be present.

The below attribute below identifies the Event Type <EvtTp>

Dividend with Options

Code / Dividend Option

Indicates the Corporate Action Election is for a Dividend Option (DVOP).

The below attributes identify the Option Type <OptnTp>

Cash

Cash

Indicates the DRP/BSP Election has consideration paid in Cash (CASH).

Security

Security

Indicates the DRP/BSP Election has consideration paid in Securities (SECU).

Bonus Share Plan

Bonus Share Plan

Indicates the DRP/BSP Election is for a Bonus Share Plan (BSPL).

The attributes in below section will be populated under Instruction Processing Status <InstrPrcgSts>, indicating the processing status of the DRP/BSP Election

Where the Corporate Action Election Status Advice is indicating acceptance from the CSP, the below attribute will be provided under Accepted for Further Processing <AccptdForFrthrPrcg>

Accepted for Further Processing

Reason / Identification

Indicates the DRP/BSP Election was Acknowledged Accepted (PACK) and processed by the CSP.

Transaction Acknowledgement Advice - Rejection

The Issuer (Registry) sends a Transaction Acknowledgement Advice (Rejected) to the CSP, advising that they reject the DRP/BSP Election Enquiry.

ASX Element Name

ISO 20022 Element

Guidelines

ASX Element Name

ISO 20022 Element

Guidelines

Transaction Id

Related Reference / Reference

Identifies the Transaction Id of the Corporate Action Election Enquiry. Further details of Transaction Identifications are detailed here.

Status Code

Status Code

Identifies the status of the Corporate Action Election Enquiry. In this case, Rejected (REJT) must be populated.

Registry Reject Reason

Report / Request Handling / Description

The reason that an Issuer (via the Registry) has not been able to process a Corporate Action Election Enquiry. An election enquiry can be rejected by the Issuer (registry) where there is no election recorded (NDRP) or where multiple elections are recorded (MDRP).

Transaction Acknowledgement Advice - Issuer (Registry)

The CSP sends a Transaction Acknowledgement Advice (Accepted) to the Issuer (Registry):

  • confirming the acceptance and processing of their DRP/BSP Election Enquiry rejection; or

  • advising that a DRP/BSP Election Enquiry was cancelled by ASX Housekeeping.

ASX Element Name

ISO 20022 Element

Guidelines

ASX Element Name

ISO 20022 Element

Guidelines

Transaction Id

Related Reference / Reference

Indicates the Transaction Id provided on the Corporate Action Election Enquiry. Further details of Transaction Identifications are detailed here.

Status Code

Status Code

Indicates the status of the Transaction Acknowledgement Advice or Corporate Action Election Enquiry.

Where the Transaction Acknowledgement Advice is sent to confirm a DRP/BSP Election Enquiry rejection, Accepted (ACCP) will be present.

Where the Transaction Acknowledgement Advice is sent to advise that a pending DRP/BSP Election Enquiry was cancelled by ASX Housekeeping, Cancelled (CANS) will be present.