1. CLAIM processing – chronological time line
SETTLEMENT
CANCELLATION
SPLIT
TRANSFORMATION
Creation of the claim
Ex date
Pay date & onwards
ISO new message to be created to report creation and status of claims
ISO MT564:
1) creation of a new status 23G:: CLAI to be used when reporting claims' details and statuses
2) new set of references to be created in the linkage sequence -
a) MITI to report the T2S/CREST reference,
b) ASRF to report the custodian reference for internalised transactions, and
c) SETT to report the client reference of the underlying settlement transation generating the claim
3) create a new qualifier 22F:: CLAI to report the status of the claim as:
a) NEWM - new claim raised (either in the market or internally)
b) CANC - claim cancelled. In this case, we need sub-reason codes to identify whether the cancellation is due to a split, a transformation or a bilateral cancellation
4) no bulking should be recommended
ISO MT566
introduce the same set of references identified in the MT564:
b) ASRF to report the custodian reference for internalised transactions