Aggregate Funds Obligation Process

Table of Contents

Aggregate Funds Obligation Process Flow

Aggregate Funds Obligation Process

StepDescriptionPartyRecipientMessage Reference
1

The CSP calculates the net funds obligation and net trust amount for each payment facility.

CSP--
2

The CSP sends a Participant Funds Notification to the Settlement Participant advising of the net funds obligation for each of their Payment Facilities.

CSPSettlement Participant / PISPParticipant Funds Notification (sett_134)
3The CSP sends a Funds Obligation to the Payment Provider advising of the net funds obligation and net trust amount for each of their Payment Facilities they service.CSPPayment ProviderFunds Obligation (sett_133)
4The CSP calculates the total funds obligation for each Payment Provider.CSP--
5The CSP sends a Funds Obligation to the Payment Provider advising of their total funds obligation.CSPPayment ProviderFunds Obligation (sett_133)
6

Where a Payment Provider is required to provide authorisation, with a reason of Accepted or Rejected, for each Payment Facility.

If the Payment Provider is required to provide authorisation, then refer to Step 7. 

If the Payment Provider is not required to provide authorisation, then refer to Step 10.

A Payment Provider can provide an authorisation for a Payment Facility that is a recipient of funds. This authorisation is optional and will not prevent the CSP from continuing with Batch Settlement processing.

---
7

The Payment Provider populates the Funds Obligation Status 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 Payment Provider sends the Funds Obligation Status Advice to the CSP. 

(Optional if the Funds Obligation amount is receivable by the Payment Provider from the CCP)

Payment ProviderCSPFunds Obligation Status Advice (sett_135)
8

The CSP validates the Funds Obligation Status Advice against the schema and business validation rules.

If the Funds Obligation Status Advice is schema and business valid, then refer to Step 9; "On Success".

If the Funds Obligation Status Advice is not schema or business valid, then refer to Step 12; "On Fail".

CSP--
On Success
9

The CSP determines whether the Payment Provider provided an acceptance or rejection for a Funds Obligation amount that is payable to the CCP.

If an Acceptance is provided by the Payment Provider, then refer to Step 10. 

If a rejection is provided by the Payment Provider, then refer to Step 11. 

CSP--
10

Once acceptances are provided from all Payment Providers, the CSP initiates the Batch Settlement Funds Movement Process.

CSP--
11

If the Paying Payment Provider has rejected the Funds Obligation, the CSP will initiate the Default Management Process.

---
On Fail
12

If the Funds Obligation Status Advice fails schema or business validation, the CSP will send the Payment Provider:

  • An invalid Transaction Notification with the relevant error code for schema failure; or
  • A rejected Transaction for business validation failure.
CSP

Payment Provider

Invalid Transaction Notification (comm_807)

Rejected Transaction (comm_808)

Business Values and Rules

Participant Funds Notification

A Participant Funds Notification is created by the CSP and sent to the Settlement Participant / PISP to notify the Settlement Participant / PISP of the projection of the the Settlement Participants Funds Obligation (before payment has been completed).

ASX Element Name

ISO 20022 Element

Guidelines

Transaction IdReport / IdentificationThe unique identifier of a transaction within the CSP.  Further details of Transaction Identifications are detailed here
Payment Facility IdAccount / Identification / Other / Identification

The identifier of the Payment Facility against which the Funds Obligation amount is to be settled.

Cash Balance Type CodeCode Or Proprietary / Proprietary

Indicates the type of balance being reported. In this case, it will be:

  • Projected Funds Notification (PFNO)
Projected Net Funds ObligationBalance / Amount

An estimate of the Funds Obligation amount calculated to be settled against a Payment Facility.

Credit Debit IndicatorCredit Debit Indicator

The Credit Debit Indicator indicates whether the Settlement Participant is the Payer or Payee of the Funds Obligation amount:

  • Credit (CRDT) indicates the Settlement Participant is the Payee
  • Debit (DBIT) indicates the Settlement Participant is the Payer
Settlement DateBalance / Date / DateIndicates the Business Date of the current Batch Settlement Cycle.

Funds Obligation

A Funds Obligation is created by the CSP advising the Payment Provider of funds obligated for each Payment Facility. This message is sent out twice as part of the process - individually for each payment facility and as an aggregation of all Payment Facilities for the Payment Provider. 

ASX Element Name

ISO 20022 Element

Guidelines

Report Header
Settlement DateSettlement Date / DateThe current date upon which the batch settlement is occurring. 
Cash Obligation Status Cash Obligation Status Specifies whether the message is a projected or an actual cash obligation report. In this case, Actual Funds (ACTL) is present.
Settlement Account Net Position
Transaction IdNet Position IdentificationThe unique identifier of a transaction within the CSP. Further details of Transaction Identifications are detailed here.
Settlement Participant Name Cash Account Owner / Name

The name of the Settlement Participant that is associated to the Payment Facility.

Settlement Participant IdentifierCash Account Owner / IdentificationThe unique identifier of a Settlement Participant that is associated to the Payment Facility. 
Payment Facility IdCash Account / Identification / Other / IdentificationThe identifier of the Payment Facility to which this notification refers to.
Net Funds ObligationAmount / AmountThe net funds obligation for the Payment Provider for this specific Payment Facility
Credit Debit IndicatorCredit Debit Indicator

The Credit Debit Indicator indicates whether the Payment Provider is the Payer or Payee of the Net Funds Obligation:

  • Credit (CRDT) indicates the Payment Provider is the Payee
  • Debit (DBIT) indicates the Payment Provider is the Payer
Net Trust AmountTrust Amount

The Trust Amount is the sum of all trust amounts, taking into consideration the Credit Debit Indicator, calculated for settlement instructions for the Payment Facility for the current business date. The Trust Amount is not received by or paid to the CCP. The Trust Amount is information provided to the Payment Provider for their internal process.

Credit Debit IndicatorCredit Debit Indicator

Indicates the direction of the payment at the bank for the internal Net Trust Amount process.

  • Credit (CRDT) indicates the Payment Provider will credit the amount to the Participant's Trust Bank Account and debit the Participant's General Bank Account
  • Debit (DBIT) indicates the Payment Provider will debit the amount to the Participant's Trust Bank Account and credit the Participant's General Bank Account
Authorisation ReasonAuthorisation Reason

Indicates the type of authorisation being notified.  In this case it will either be: 

  • Funds Notification (PFNO)
  • Funds Authorisation (PFAU)
Settlement Agent Net Position
Transaction IdNet Position IdentificationThe unique identifier of a transaction within the CSP.  Further details of Transaction Identifications are detailed here
Total Funds ObligationNet Cash Amount / Amount

The total funds obligation for the Payment Provider across all of their Payment Facilities.

Credit Debit IndicatorCredit Debit Indicator

The Credit Debit Indicator indicates whether the Payment Provider is the Payer or Payee of the total Funds Obligation:

  • Credit (CRDT) indicates the Payment Provider is the Payee
  • Debit (DBIT) indicates the Payment Provider is the Payer
Total Message CountTotal Number Of PositionsThe number of Payment Facilities that are contributing to the total Funds Obligation.
Authorisation ReasonAuthorisation Reason

Indicates the reason for which a transaction has been authorised. In this case it will be

  • Primary (PRIM)

Funds Obligation Status Advice

A Funds Obligation Status Advice is sent by the Payment Provider to the CSP, advising of their acceptance or rejection of a Funds Obligation amount.

ASX Element Name

ISO 20022 Element

Guidelines

Target Transaction IdNet Position IdentificationThe identifier of the Funds Obligation which is the target of the required action.
Payment Facility IdCash Account / Identification / Other / IdentificationThe identifier of the Payment Facility to which this acceptance / rejection refers.
StatusStatus

Indicates the authorisation status of the Funds Obligation. In this case it will either be: 

  • Acknowledge Accepted (PACK)
  • Rejected (REJT)
Bank ReferenceAccount Servicer ReferenceA reference supplied by the Payment Provider for their own reference. No business validations are performed on this field.



Related Pages:

There are no related labels.

Browse Popular Pages:

No labels match these criteria.



This document provides general information only. ASX Limited (ABN 98 008 624 691) and its related bodies corporate (“ASX”) makes no representation or warranty with respect to the accuracy, reliability or completeness of the information. To the extent permitted by law, ASX and its employees, officers and contractors shall not be liable for any loss or damage arising in any way (including by way of negligence) from or in connection with any information provided or omitted or from anyone acting or refraining to act in reliance on this information.

© 2022 ASX Limited ABN 98 008 624 691