August 2020 - Documentation Release Notes

August 2020 Document Release

These release notes detail the scope of the August 2020 documentation release. Please note there is no correlation between the numbering of this publication to future CDE code drops.

This release is the fifth to include ASX Settlement Procedure Guidelines (APG) content. Sections released will be updated in subsequent releases as information becomes available. It also includes updates to some areas of functionality and messaging from a prior release. Full details are provided below. Updates to previously published functionality or corrections have been identified in orange on relevant pages. Changes to APG sections will be accompanied by a page history comparison per 1.7 Maintenance and Updates. Deletions, code snippets, hyperlinks, images, name changes and major updates to pages or tables are not marked in orange.

New documentation:

  • ASX Settlement Procedure Guidelines (APG)

    • Section 15 - Primary market facility;

    • Section 16 - CHESS depositary interests;

    • Section 17 - Exchange traded funds: in-specie applications and redemptions;

    • Section 18 - Warrants; and

    • Section 19 - Exchange traded Australian Government Bonds.

Documentation updated:

  • ASX Settlement Procedure Guidelines (APG), including:

    • Section 02 - CHESS overview;

    • Section 04 - Account administration;

    • Section 10 - Corporate action principles; and

    • Section 11 - Corporate actions.

  • Functional specifications, including:

    • Default Management;

    • Entitlement Elections;

    • mFunds;

    • Takeovers and Buy-backs; and

    • Reporting.

  • Messaging, including:

    • ASX Proprietary Code List.

New and updated content supporting broader Technical Accreditation information:

  • Message Accreditation scripts for Corporate Actions - Day 1; and

  • Forward release plan for publishing subsequent message accreditation scripts.

A full archive of content prior to the August 2020 Documentation Release is available here for reference.

ASX Settlement Procedure Guidelines (APG)

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Release Notes

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Release Notes

Operational Procedures & Guidelines

Section 15 - Primary market facility (NEW)

The APG sections released include information regarding:

  • a breakdown of the primary market facility;

  • a breakdown CHESS depository interests, including corporate actions and transmutation of CDIs;

  • a breakdown of exchange traded fund in-specie applications and redemptions;

  • a breakdown of warrants, including warrant delivery, exercises and rollover applications; and

  • a breakdown of exchange-traded Government Bonds.

Section 16 - CHESS depositary interests (NEW)

Section 17 - Exchange traded funds: in-specie applications and redemptions (NEW)

Section 18 - Warrants (NEW)

Section 19 - Exchange traded Australian Government Bonds (NEW)

APG Changes (Update)

Updated to include changes related to primary market facility, CHESS depositary interests, exchange traded products, warrants and exchange traded Australian Government Bonds.

Content Pages (Update)

Updated to include a revised explanatory note as well as changes related to primary market facility, CHESS depositary interests, exchange traded products, warrants and exchange traded Australian Government Bonds.

Section 02 - CHESS overview (Update)

Removed the following placeholder ‘Additional details on CHESS depository interests will be made available in a subsequent release’.

Additional details of this change are available here.

Section 04 - Account administration (Update)

  1. Updated Section 4.6 Account and Holder Locking to include new content in the introduction and moved “Locks are applied at both account and holder level with the exception of investigation (non-specific) and court order reasons, these locks are applied at the account level” to be grouped with the new content.

  2. Updated Section 4.7 Account and Holder Unlocking to include new content in the introduction and moved “Locks performed in error may be unlocked by the party that performed the lock.” from Section 4.6 Account and Holder Locking to this section.

Additional details of this change are available here.

Section 10 - Corporate action principles (Update)

  1. Updated Section 10.2.1 Automatic Diary Adjustments to include references to warrant rollovers in the introduction and diary adjustment type summary table.

  2. Updated Section 10.6 Closure of a CHESS Subregister to include a reference to the maturity of exchange traded Australian Government Bonds in the introduction.

Additional details of this change are available here.

Section 11 - Corporate actions (Updates)

Removed the following placeholder ‘Further details on the settlement of institutional offers that may occur through the primary market facility will be made available in a subsequent release’ and added a reference to Section 15 Primary Market Facility in the introduction content.

Additional details of this change are available here.

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Functional Specifications

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Release Notes

Default Management

Default Management Process (Update)

Updated the Funds Obligation Business Values and Rules table “Authorisation Reason” attribute in the “Settlement Account Net Position” section to include the Failure (FAIL) reason and remove the Funds Notification (PFNO) and Funds Authorisation (PFAU) reasons as they are no longer applicable.

Payment Facility Rejection Process (Update)

  1. Updated the Payment Facility Rejection Process Flow and Payment Facility Process to remove the Rejected Transaction (comm_808) message in Step 8. This message has been replaced by a Transaction Acknowledgement Advice (comm_809) message.

  2. Added a new Transaction Acknowledgement Advice Business Values and Rules table.

Entitlement Elections

Participant Initiated Entitlement Election Payment Instruction Process (Update)

Updated Step 14 of the Participant Initiated Entitlement Election Payment Instruction Process to include an information box covering the usage of the Acceptance via Issuer (IACC) reason code and clarified Step 14 wording.

mFund

mFund Application - Reminder Notice (Update)

  1. Updated the mFund Order Status Notification Business Values and Rules table to reflect change in terminology:

    • “Settled” → “Payment Completed”.

  2. Updated the mFund Order Status Notification Business Values and Rules table to reflect that the “Payment Status” attribute has replaced the “Order Status” attribute.

  3. Updated ‘Participant’ references to ‘Requesting Participant’ for consistency with other mFund Functional Specifications.

mFund Application - Cancellation by PISP (Update)

  1. Amended ‘Participant’ references to ‘Requesting Participant’ for consistency with other mFund Functional Specifications.

  2. Added a missing ‘Requesting Participant’ reference in the recipient column of Step 4.

Takeovers and Buy-backs

Offeror Initiated Bid Election Process (Update)

Updated the process flow diagram and process table to include a change applicable post CDE Code Drop 8. The Business Values and Rules table will be made available in a subsequent release. For further details, refer to the messaging release notes below.

Reporting

Reporting Overview (Update)

  1. Updated Demand Reports table to include a new column for the Requesting Party.

  2. Updated to clarify the note under Demand Report Generation is applicable where ‘As At Date element = (blank)’.

Holding Balance (HBAL) (Update)

  1. Updated to clarify the note under the Reporting Request Summary where current CHESS behaviour is applicable where ‘As At Date element = (blank)’.

  2. Removed the note where the ‘As At Date’ element is not present on the Reporting Request.

Cum Entitlement Balance (CEBL) (Update)

Holding Net Movement (HMVT) (Update)

Cum Entitlement Net Movement (CEMV) (Update)

Account Notification Reporting (ACNT) (Update)

Settlement Instruction Management

Diary Adjustments Overview (Update)

Updated the Automatic Diary Adjustments section to include references to warrant rollovers in the introduction and diary adjustment type summary table.

Messaging

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Release Notes

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Release Notes

ISO 20022 Messaging

ISO 20022 Messaging - Message Catalogue (MC) (Update)

NEW: ISO 20022 Messaging - MC - Payment Facility Rejection

The following messages have been added:

  • mfnd_402_setr_016 - mFund Order Status Notification

  • comm_809_admi_007 - Transaction Acknowledgement Advice

Updated: ISO 20022 Messaging - MC - Takeovers and Buy-backs (Bid Offers) - Offeror Initiated

Under the existing CHESS workflow, the acceptance for the offer can be initiated by EIS 031. The EIS 032 response contains the Takeover Acceptance Balance allowing Participant systems to reconcile. ASX has received market feedback regarding the absence of the Takeover Subposition Balance in the Transaction Acknowledgement Advice (comm_809) response. This prevents Participant systems from continuously reconciling with the CSP. To address this and allow Participant systems to receive the Takeover Subposition Balance, the Transaction Acknowledgement Advice (comm_809) will be replaced post CDE code drop 8 by a Corporate Action Election Status Advice (evnt_743).

For clarity, both the CDE8 and post CDE8 UMLs have been included.

  1. Updated to include a post CDE8 UML of Offeror Initiated Bid Election.

  2. Updated CDE8 UML to reflect that a Corporate Action Election Status Advice (evnt_743) is sent to the Participant where the Bid Election is housekept. Previously the UML incorrectly stated that a Corporate Action Election Cancellation Status Advice (evnt_746) was sent in the housekeeping scenario.

Updated: ISO 20022 Messaging - MC - Investor Data

The follow changes have been made to reflect the functional specification updates made in July 2020 - Documentation Release Notes:

  1. Replaced previous Investor Data UML with:

    • a standalone UML for investor data maintenance; and

    • a standalone UML for investor data for an initial mFund Application

  2. Removed ASX Housekeeping reference from the Account Modification Instruction Acknowledgement (acct_018) message as it is no longer applicable.

Updated: ISO 20022 Messaging - MC - mFund Application

The follow changes have been made to reflect the functional specification updates made in July 2020 - Documentation Release Notes:

  1. Removed the 'mFund Application Order - Non-Zero Holding Balance Does Not Exist – Investor Data Exists' UML as it is no longer applicable;

  2. Updated ‘AWRM (Awaiting Redemption Money)’ code to ‘SCHD (Payment Scheduled)’ in the mFund Application Order - Acceptance / Rejection / Cancellation UML; and

  3. Updated ‘SETT (Settled)’ code to ‘PAID (Payment Completed)’ in the mFund Application Order – Confirmation UML.

Updated: ISO 20022 Messaging - MC - mFund Redemption

The follow changes have been made to reflect the functional specification updates made in July 2020 - Documentation Release Notes:

  1. Updated ‘AWRM (Awaiting Redemption Money)’ code to ‘SCHD (Payment Scheduled)’ and updated ‘SETT (Settled)’ code to ‘PAID (Payment Completed)’ in the mFund Redemption Order Submission UML; and

  2. Updated the related block of the first mfnd_402 instance in the ‘Update Settlement Amount or Payment Date’ section to state ‘n/a’.

ISO 20022 Messaging - Technical Manual (TM) (Update)

Updated: ISO 20022 Messaging - TM - ASX Proprietary Code List

The following code lists have been amended:

  • 43-HoldingAdjustmentReason_ASX_1

    • Added the following entries:

      • UNCR - Unit Creation (ETF); and

      • UNRD - Unit Redemption (ETF).

    • Addition of a column titled “CDE” to provide clarification around the code functionality in CDE 8.

ISO 20022 Messaging - TM - Business Error Code List (Update)

Updated: ISO 20022 Messaging - TM - Business Error Code List

The Business Error Code list has been updated to include the following revisions:

  • Added entry for the following reason code; 1194.

Environments

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Environments

Technical Accreditation (Update)

These release notes detail the scope of the sixth release of technical accreditation information. Release 6 focuses on:

  • Message accreditation scripts for Corporate Actions - Day 1; and

Updated: CHESS User by Feature, Message

  • Added Corporate Actions - Day 1 to the CHESS User by Feature, Message table.

Updated: Messaging Accreditation Scripts

  • Updated Messaging Accreditation Scripts to support Corporate Actions - Day 1; and

  • Updated Forward Release Plan for subsequent message accreditation script publish dates.

Testing

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Testing

Self-Service Holding Adjustments (Update)

Updated the Using the Trade Ingest Feature section to include a note regarding the usage of the ISO 20022 Messaging - TM - ASX Proprietary Code List (43-HoldingAdjustmentReason).

Known Issues & Limitations (Update)

Updated the Observed Behaviour table to include ‘Error when submitting Holding Adjustments via the Self-Service Tool’.