Cash-Securities Split Settlement Market Practice

Transcription

1 Cash-Securities Split Settlement Market Practice Disclaimer The Securities Market Practice Group is a group of experts who devote their time on a voluntary basis to define global and local market practices for the benefit of the securities industry. The market practice documentation and recommendations produced by this organization are intended to solve common problems across the securities industry, from which financial institutions can derive clear benefits, to harmonize business processes and to facilitate the usage of message protocols ISO and ISO While the Securities Market Practice Group encourages the implementation of the market practices it develops, it is up to the financial institutions within each market to implement the market practices according to their needs and agreements with their business counterparts to support their businesses as efficient as possible. Although the SMPG has used all reasonable efforts to ensure accuracy of the contents of this document, the SMPG assumes no liability whatsoever for any inadvertent errors or omissions that may appear thereon. Moreover, the information is provided on an "as is" basis. The SMPG disclaims all warranties and conditions, either express or implied, including but not limited to implied warranties of merchantability, title, noninfringement and fitness for a particular purpose. Neither the SMPG, nor any of its members and/or contributors shall be liable for any direct, indirect, special or consequential damages arising out of the use of the information published in this document, even if the SMPG or any of its members have been advised of the possibility of such damage. Status: Final Preparation date: December 2008 Update date: July 2015 Update. Impl. date: November 2009 Author: UK &IE NMPG - 1 -

2 I. SCOPE AND DEFINITIONS:... 4 II. ACTORS AND ROLES:... 4 III. ACTIVITY DIAGRAM:... 5 IV. SEQUENCE DIAGRAMS:... 7 V. BUSINESS DATA REQUIREMENTS: Instruct securities/cash split settlement: Confirm securities/cash split settlement:... 8 a. Confirm cash settlement:... 8 b. Confirm securities settlement:... 8 VI. GENERAL MARKET PRACTICE RULES:... 8 VII. ISO ILLUSTRATIONS: Instruct securities/cash split settlement: Confirm securities/cash split settlement: A. SCENARIO 1, ALL ROLES PLAYED BY DIFFERENT ACTORS: Instruction of the securities/cash split settlement Instruct securities settlement Instruct cash transfer MT 548 status (1) From CSD to custodian (2) From custodian to investment manager Confirm securities settlement Confirm cash transfer Confirm securities/cash split settlement b. Confirm securities c. Confirm cash: B. SCENARIO 2, CSD PLAYS TWO ROLES: Instruction of the securities/cash split settlement Instruct cash transfer MT 548 status (1) From CSD to custodian Confirm cash transfer Confirm securities/cash split settlement b. Confirm securities b. Confirm cash: VIII. ISO ILLUSTRATIONS: Instruct securities/cash split settlement: Confirm securities/cash split settlement: A. SCENARIO 1, ALL ROLES PLAYED BY DIFFERENT ACTORS: Instruction of the securities/cash split settlement Instruct securities settlement Instruct cash transfer Sese.024 status (1) From CSD to custodian (2) From custodian to investment manager Confirm securities settlement Confirm cash transfer Confirm securities/cash split settlement a. Confirm securities b. Confirm cash:

3 B. SCENARIO 2, CSD PLAYS TWO ROLES: Instruction of the securities/cash split settlement Instruct cash transfer Sese.024 Status Advice (1) From CSD to custodian Confirm cash transfer Confirm securities/cash split settlement a. Confirm securities b. Confirm cash: Changes to previous versions Version 4.1 Reshuffle and update Reshuffle to new MP format standards, Introduction of New INTM Qualifier Various Version 4.2 Updates with SMPG comments Add the ISO20022 samples equivalent to MT202 that exist in the Securities Related Payment MP + reference to this MP (iso PMPG) Add sentence for IBAN usage Various - 3 -

4 I. Scope and definitions: The scope of this document is to describe the market practice for instructing and confirming the settlement of transaction for which the securities and cash will not settle at the same location. The inclusion of field: 22F::STCO//SPST in a settlement instruction indicates that the instructing party is aware that the securities and cash will be split and follow separate settlement processes. For more information on Cash Payment MT and MX messages, pls refer to the related SWIFT documentation. Note: The Global Securities Related Payments Market Practice (document that is still work in progress) will be in future the reference document for MT and MX usage. II. Actors and Roles: The main roles involved in this process: 1. Securities-cash instruction instructing party The party instructing the cash-securities split transaction. 2. Securities-cash instruction executing party The party executing the split instruction, ie, instructing the securities part and instructing the cash leg. 3. Securities leg executing party The party executing the securities transaction. The same party could play the role of the Securities-cash instruction executing party. 4. Cash leg executing party The party executing the cash instruction. There may be additional intermediaries in between these roles (eg, a correspondent bank, a global custodian). We will limit the market practice to the main roles and actors. The actors that would typically play those roles are: instructing party Securities-cash splitting party Securities leg executing party Investment Manager Custodian Central Securities Depository Custodian Central Securities Depository Central Securities Depository Cash leg executing party Correspondent Bank Correspondent Bank Physical Correspondent Bank / Central Securities Depository Note: a CSD can play two roles at the same time

5 III. Activity Diagram: There may be intermediaries between the split executing party and the sec or cash executing party. Instructing Party Securities-cash instruction Executing party Securities leg executing party Cash leg executing party Instruct a securities/cash split settlement Split securities/ cash instruction Processing, matching and settlement of securities leg Process cash leg Settled? Monitor securities and cash settlement process Yes Settle Cash Monitor Matching and Settlement Process Cash Settled? Securities Settled? Update Status No Settle Securities Yes Settled? No No Yes No Securities and Cash Settled? Yes Update Status No Update Status Settle trade Yes Settle trade Activity described in MP Surrounding Activity Choi ce Last Activity End of activity Start of 1 st activity - 5 -

6 Descriptions of the activities Instructing party Securities-cash instruction executing party Securities leg executing party Cash leg executing party Instruct a securities/cash split settlement: Instruction of a trade for which the cash and the securities should settle in different location Split securities/cash instruction: Following identification a cash/securities split is needed, create a securities only instruction and a cash only instruction Processing, matching and settlement of the securities leg. The aim of the practice is to describe the cash/securities split process. This activity is therefore summarised in one box. Process cash leg: The aim of the practice is to describe the cash/securities split process. This activity is therefore summarised in one box. Monitor matching and settlement process. The aim of the practice is to describe the cash/securities split process. This activity is therefore summarised in one box. Monitor securities and cash settlement process. Monitoring of the settlement process of both cash and securities leg. Settled NO/YES: If NO, go to update status activity. If YES, go to settle securities activity. Settle cash: settlement of the cash leg at the bank and reporting to the account owner. Settled NO/YES: If NO, go to update status activity. If YES, go to settle trade activity. Cash settled NO/YES: If NO, go to update status activity. If YES, go to securities and cash settled choice. Update status: Update status (and inform about it). Update status: Update status. Securities settled NO/YES: If NO, go to update status activity. If YES, go to Securities and Cash Settled choice. Settle securities: Settle the instruction in the custody system. Settle instruction: Settle the instruction in the custody system. Securities and Cash Settled No/Yes: If No go to update status activity, If yes go to settle trade activity. Update status: Update status (and inform about it). Settle instruction: Settle the instruction in the custody system

7 IV. Sequence Diagrams: In green, the main communication requirements for this process. In black, the surrounding communication requirements. In dotted line, the optional/potential surrounding communication requirements. For the reporting of processing, matching and settlement status, please see MT Market Practice on Instructing Party Securities/Cash instruction Executing Party Instruct securities/cash split settlement Instructions Instruct securities instructions Securities Leg Executing Party Cash leg Executing Party Report securities/cash split matching or settlement status Confirm securities settlement Confirm cash settlement Instruct/advise cash transfer Report securities leg Matching or Settlement status Confirm securities settlement Confirm cash transfer - 7 -

8 V. Business data requirements: For the above-described different communication needs, the following business data are required. Focus is on the processes described in the MP: 1. Instruct securities/cash split settlement: Data Additional Information 10 common elements for securities settlement. See corresponding MP Country specifics as per local market practice (if See corresponding MP any). Indication that cash and securities should be settled in different location. Cash settlement details. ISO 9362 Business Identifier Codes [BIC]. Account information as per local or regional standards (eg, IBAN) 2. Confirm securities/cash split settlement: a. Confirm cash settlement: Data Additional Information 10 common elements See cash standards Country specifics as per local market practice (if See cash standards any) Reference to the instruction Cash settlement details b. Confirm securities settlement: Data Additional Information 10 common elements See corresponding MP Country specifics as per local market practice (if See corresponding MP any) Indication that cash and securities were settled in different location. Reference to the instruction VI. General Market Practice Rules: Securities/cash split settlement instruction should be instructed as against payment instructions The instruction should clearly indicate that cash and securities will settle in different location. The providing of the cash settlement parties chain is mandatory unless standing instruction applies. Note: CSD may be the cash leg executing party and not settled the securities (eg, residual in GB) In ISO15022 Instructions should be via MT541 or MT543 Split Settlement should be indicated by the use of 22F::STCO//SPST in Sequence E Settlement Details. Cash Settlement Instructions should be provided in Sequence E2 Cash Parties - 8 -

9 ADDITIONNAL NOTE: In sequences C and E2, for field 97a::CASH, when IBAN is used (either though mandate or otherwise, depending on scenarios when IBAN is mandatory or not) then this should be populated as format E as documented within the SWIFT user handbook format option. In ISO20022 Instructions should be via the sese.023 message Split Settlement should be indicated by the use of the following element in the Settlement Parameters sequence of the message <SttlmParams> <SctiesTxTp>.</SctiesTxTp> <SttlmTxCond>SPST</SttlmTxCond>. </SttlmParams> Cash Settlement Instructions should be provided in the Cash Parties sequence of the message <CshPties>. </CshPties> ADDITIONNAL NOTE: Same comment as above applies for the usage of the IBAN in sequence Cash Parties

10 VII. ISO illustrations: 1. Instruct securities/cash split settlement: Data ISO MT 541, MT common elements for securities settlement. See corresponding MP Country specifics as per local market practice (if See corresponding MP any). Indication that cash and securities should be settled :22F::STCO//SPST in different location. Cash settlement details. :16R:CSHPRTY :95P::PAYE//XXXXXXXX :16S:CSHPRTY :16R:CSHPRTY :95P::ACCW//XXXXXXXX :16S:CSHPRTY :16R:CSHPRTY :95P::BENM//XXXXXXXX :97A::CASH// :16R:CSHPRTY :16R:CSHPRTY :95P::INTM//XXXXXXXX :16S:CSHPRTY 2. Confirm securities/cash split settlement: Data ISO MT 544, common elements See corresponding MP Country specifics as per local market practice (if See corresponding MP any) Indication that cash and securities were settled in :22F::STCO//SPST different location

11 A. Scenario 1, all roles played by different actors: INVEUS33 CUSTXXPP NCSDXXPP CRBKLU22 MT 541/543 MT 540/542 Instruct/advise cash transfer (eg, 202,210) MT 548 MT 548 MT 548 MT 548 MT 544/546 MT 544/6 Confirm cash transfer (eg, 900,910) Cash confirm

12 A US Investment Manager instructs it custodian to settle a free of payment receipt of 5000 securities at the local CSD and to pay the deal amount in EUR to a LU bank for further credit to account belonging to the seller of the shares. The LU bank happens to be the correspondent bank of the custodian in that market. 3. Instruction of the securities/cash split settlement INVEUS33 sends the split cash/securities settlement instruction to CUSTXXPP. INVEUS33 MT 541 to CUSTXXPP :16R:GENL :20C::SEME// :23G:NEWM :98A::PREP// :16S:GENL :16R:TRADDET :98A::TRAD// :98A::SETT// :35B:ISIN XX :16S:TRADDET :16R:FIAC :36B::SETT//UNIT/5000, :97A::SAFE// :16S:FIAC :16R:SETDET :22F::SETR//TRAD :22F::STCO//SPST :16R:SETPRTY :95P::SELL//SELLGB22 :16S:SETPRTY :16R:SETPRTY :95P::DEAG//SUBCXX34 :16S:SETPRTY :16R:SETPRTY :95P::PSET//NCSDXX21 :16S:SETPRTY :16R:CSHPRTY :95P::ACCW//CRBKLU22 :16S:CSHPRTY :16R:CSHPRTY :95P::BENM//SELLGB22 :97A::CASH// :16S:CSHPRTY :16R:AMT :19A::SETT//EUR100000, :16S:AMT :16S:SETDET Message reference Preparation date Trade date Settlement date Quantity Safekeeping account Settlement transaction type Indication settlement of cash and securities should take place in different location Client of the delivering agent Delivering agent Place of settlement Account with institution: the bank to which the payment need to be made in favour of the beneficial owner identified later. Party to be credited with the payment Account to be credited Settlement amount

13 4. Instruct securities settlement CUSTXXPP sends the securities settlement instruction to NCSDXXPP. CUSTXXPP MT 540 to NCSDXXPP :16R:GENL :20C::SEME// :23G:NEWM :98A::PREP// :16S:GENL :16R:TRADDET :98A::TRAD// :98A::SETT// :35B:ISIN XX :16S:TRADDET :16R:FIAC :36B::SETT//UNIT/5000, :97A::SAFE// :16S:FIAC :16R:SETDET :22F::SETR//TRAD :16R:SETPRTY :95P::SELL//SELLGB22 :16S:SETPRTY :16R:SETPRTY :95P::DEAG//SUBCXX34 :16S:SETPRTY :16R:SETPRTY :95P::PSET//NCSDXX21 :16S:SETPRTY :16S:SETDET Message reference Preparation date Trade date Settlement date Quantity Safekeeping account Settlement transaction type Client of the delivering agent Delivering agent Place of settlement 5. Instruct cash transfer CUSTXXPP sends a cash transfer instruction to CRBKLU22. CUSTXXPP Payment message to CRBKLU22, eg, MT 202 :20: :21: :32A:150306EUR100000, :52A:INVEUS33 :53B:/LU :58A:/LU SELLGB22 :72:/BNF/PURCHASE XX

14 6. MT 548 status. (1) From CSD to custodian. NCSDXXPP reports back a matching status on the receive free instruction. NCSDXX21 MT 548 to CUSTXXPP :16R:GENL :20C::SEME//SETSTATUS1 :23G:INST :98A::PREP// :16R:LINK :20C::RELA// :16S:LINK :16R:STAT :25D::4!c//4!c :16R:REAS :24B::4!c//4!c :16S:REAS :16S:STAT :16S:GENL :16R:SETTRAN :35B:ISIN XX :36B::SETT//UNIT/5000, :97A::SAFE// :22F::SETR//TRAD :22H::REDE//RECE :22H::PAYM//FREE :98A::TRAD// :98A::SETT// :16S:SETTRAN (2) From custodian to investment manager. CUSTXXPP reports back the status on the cash/securities split settlement receive instruction. CUSTXX21 MT 548 to INVEUS33 :16R:GENL :20C::SEME//STATUSA :23G:INST :98A::PREP// :16R:LINK :20C::RELA// :16S:LINK :16R:STAT :25D::4!c//4!c :16R:REAS :24B::4!c//xxxx :16S:REAS :16S:STAT :16S:GENL :16R:SETTRAN :35B:ISIN XX :36B::SETT//UNIT/5000, :19A::SETT//EUR100000, Specific status and codes for the process described in this MP: :25D::SETT//PEND-F :24B::PEND-F//AWMO :24B::PEND-F//AWSH Awaiting money, securities settled Awaiting securities, money settled

15 :97A::SAFE// :22F::SETR//TRAD :22F::STCO//SPST :22H::REDE//RECE :22H::PAYM//APMT :98A::TRAD// :98A::SETT// :16S:SETTRAN 7. Confirm securities settlement NCSDXXPP sends a securities settlement confirmation to CUSTXXPP. NCSDXXPP MT 544 to CUSTXXPP :16R:GENL :20C::SEME//ABCDE :23G:NEWM :98A::PREP// :16R:LINK :20C::RELA// :16S:LINK :16S:GENL :16R:TRADDET :98A::TRAD// :98A::ESET// :35B:ISIN XX :16S:TRADDET :16R:FIAC :36B::ESTT//UNIT/5000, :97A::SAFE// :16S:FIAC :16R:SETDET :22F::SETR//TRAD :16R:SETPRTY :95P::SELL//SELLGB22 :16S:SETPRTY :16R:SETPRTY :95P::DEAG//SUBCXX34 :16S:SETPRTY :16R:SETPRTY :95P::PSET//NCSDXX21 :16S:SETPRTY :16S:SETDET Message reference Preparation date Trade date Settlement date Quantity Safekeeping account Settlement transaction type Client of the delivering agent Delivering agent Place of settlement 8. Confirm cash transfer CRBKLU22 sends a debit confirmation to CUSTXXPP. CRBKLU22 debit confirmation to CUSTXXPP, eg, MT 900 :20:ABCDEF :21: :25:LU :32A:150306EUR100000, :52A:INVEUS33 :72://PURCHASE XX

16 9. Confirm securities/cash split settlement b. Confirm securities CUSTXXPP MT 544 to INVEUS33 :16R:GENL :20C::SEME// :23G:NEWM :98A::PREP// :16R:LINK :20C::RELA// :16S:LINK :16S:GENL :16R:TRADDET :98A::TRAD// :98A::ESET// :35B:ISIN XX :16S:TRADDET :16R:FIAC :36B::ESTT//UNIT/5000, :97A::SAFE// :16S:FIAC :16R:SETDET :22F::SETR//TRAD :22F::STCO//SPST :16R:SETPRTY :95P::SELL//SELLGB22 :16S:SETPRTY :16R:SETPRTY :95P::DEAG//SUBCXX34 :16S:SETPRTY :16R:SETPRTY :95P::PSET//NCSDXX21 :16S:SETPRTY :16S:SETDET Message reference Preparation date Trade date Settlement date Quantity Safekeeping account Settlement transaction type Indication settlement of cash and securities took place in different location Client of the delivering agent Delivering agent Place of settlement c. Confirm cash: CUSTXXPP debit confirmation to INVEUS33, eg, MT 900 :20: :21: :25:LU :32A:150306EUR100000, :52A:INVEUS33 :72://PURCHASE XX

17 B. Scenario 2, CSD plays two roles: CUSTXXPP MT 541/3 NCSDCCPP Instruct/advise cash transfer (eg 202, 210) CRBKLU22 MT 548 MT 548 MT 544/546 Confirm cash transfer (eg, 900, 910) Confirm cash transfer (eg, 900, 910)

18 A CSD participant settle a free of payment receipt of 5000 securities at the local CSD and request the payment of the deal amount to be made to a LU bank for further credit to account belonging to the seller of the shares. The LU bank happens to be the correspondent bank of the CSD in that market. 1. Instruction of the securities/cash split settlement CUSTXXPP sends the split cash/securities settlement instruction to NCSDXXPP. CUSTXXPP MT 541 to NCSDXXPP :16R:GENL :20C::SEME// :23G:NEWM :98A::PREP// :16S:GENL :16R:TRADDET :98A::TRAD// :98A::SETT// :35B:ISIN XX :16S:TRADDET :16R:FIAC :36B::SETT//UNIT/5000, :97A::SAFE// :16S:FIAC :16R:SETDET :22F::SETR//TRAD :22F::STCO//SPST :16R:SETPRTY :95P::SELL//SELLGB22 :16S:SETPRTY :16R:SETPRTY :95P::DEAG//SUBCXX34 :16S:SETPRTY :16R:SETPRTY :95P::PSET//NCSDXX21 :16S:SETPRTY :16R:CSHPRTY :95P::ACCW//CRBKLU22 :16S:CSHPRTY :16R:CSHPRTY :95P::BENM//SELLGB22 :97A::CASH// :16S:CSHPRTY :16R:AMT :19A::SETT//EUR100000, :16S:AMT :16S:SETDET Message reference Preparation date Trade date Settlement date Quantity Safekeeping account Settlement transaction type Indication settlement of cash and securities should take place in different location Client of the delivering agent Delivering agent Place of settlement Account with institution: the bank to which the payment need to be made in favour of the beneficial owner identified later. Party to be credited with the payment Account to be credited Settlement amount

19 2. Instruct cash transfer NCSDXXPP sends a cash transfer instruction to CRBKLU22. NCSDXXPP Payment message to CRBKLU22, eg, MT 202 :20: :21: :32A:150306EUR100000, :52A:CUSTXXPP :53B:/LU :58A:/LU SELLGB22 :72:/BNF/PURCHASE XX MT 548 status. (1) From CSD to custodian. NCSDXXPP reports back a matching status on the instruction. NCSDXXPP MT 548 to CUSTXXPP :16R:GENL :20C::SEME// :23G:INST :98A::PREP// :16R:LINK :20C::RELA// :16S:LINK :16R:STAT :25D::4!c//4!c :16R:REAS :24B::4!c//xxxx :16S:REAS :16S:STAT :16S:GENL :16R:SETTRAN :35B:ISIN XX :36B::SETT//UNIT/5000, :19A::SETT//EUR100000, :97A::SAFE// :22F::SETR//TRAD :22F::STCO//SPST :22H::REDE//RECE :22H::PAYM//FREE :98A::TRAD// :98A::SETT// :16S:SETTRAN Specific status and codes for the process described in this MP: :25D::SETT//PEND-F :24B::PEND-F//AWMO :24B::PEND-F//AWSH Awaiting money, securities settled Awaiting securities, money settled 4. Confirm cash transfer CRBKLU22 sends a debit confirmation to NCSDXXPP. CRBKLU22 debit confirmation to NCSDXXPP, eg, MT 900 :20:ABCDEF :21: :25:LU

20 :32A:150306EUR100000, :52A:CUSTXXPP :72://PURCHASE XX Confirm securities/cash split settlement NCSDXXPP sends the split cash/securities settlement confirmation to CUSTXXPP. b. Confirm securities NCSDXXPP MT 544 to CUSTXXPP :16R:GENL :20C::SEME// :23G:NEWM :98A::PREP// :16R:LINK :20C::RELA// :16S:LINK :16S:GENL :16R:TRADDET :98A::TRAD// :98A::ESET// :35B:ISIN XX :16S:TRADDET :16R:FIAC :36B::ESTT//UNIT/5000, :97A::SAFE// :16S:FIAC :16R:SETDET :22F::SETR//TRAD :22F::STCO//SPST :16R:SETPRTY :95P::SELL//SELLGB22 :16S:SETPRTY :16R:SETPRTY :95P::DEAG//SUBCXX34 :16S:SETPRTY :16R:SETPRTY :95P::PSET//NCSDXX21 :16S:SETPRTY :16S:SETDET Message reference Preparation date Trade date Settlement date Quantity Safekeeping account Settlement transaction type Indication settlement of cash and securities took place in different location Client of the delivering agent Delivering agent Place of settlement b. Confirm cash: NCSDXXPP debit confirmation to CUSTXXPP, eg, MT 900 :20: :21: :25:LU :32A:150306EUR100000, :52A:INVEUS33 :72://PURCHASE XX

21 VIII. ISO illustrations: 1. Instruct securities/cash split settlement: Data ISO sese common elements for securities settlement. See corresponding MP Country specifics as per local market practice (if any). See corresponding MP Indication that cash and securities should be settled in <SttlmTxCond> different location. <Cd>SPST</Cd> </SttlmTxCond> Cash settlement details. <CshPties> <DbtrAgt> <BICFI>XXXXXXXX</BICFI> </DbtrAgt> <CdtrAgt> <BICFI>XXXXXXXX</BICFI> </CdtrAgt> <Cdtr> <BICFI>XXXXXXXX</BICFI> <CshAcct> <Prty>XXXXXXXX</Prty> </ CshAcct > </Cdtr> <Intrmy> <BICFI>XXXXXXXX</BICFI> </ Intrmy > </CshPties> 2. Confirm securities/cash split settlement: Data ISO MX sese common elements See corresponding MP Country specifics as per local market practice (if any) See corresponding MP Indication that cash and securities were settled in different location. <SttlmTxCond> <Cd>SPST</Cd> </SttlmTxCond>

22 A. Scenario 1, all roles played by different actors: INVEUS33 CUSTXXPP NCSDXXPP CRBKLU22 sese.023 sese.023 Instruct/advise cash transfer e.g. pacs.009 (or camt.057) sese.024 sese.024 sese.024 sese.024 sese.025 sese.025 Confirm cash transfer e.g. camt.054 camt

23 A US Investment Manager instructs it custodian to settle a free of payment receipt of 5000 securities at the local CSD and to pay the deal amount in EUR to a LU bank for further credit to account belonging to the seller of the shares. The LU bank happens to be the correspondent bank of the custodian in that market. 1. Instruction of the securities/cash split settlement INVEUS33 sends the split cash/securities settlement instruction to CUSTXXPP. INVEUS33 sese.023 Receive Against Payment to CUSTXXPP <TxId> </TxId> <SttlmTpAndAddtlParams> <SctiesMvmntTp>RECE</SctiesMvmntTp> <Pmt>APMT</Pmt> </SttlmTpAndAddtlParams> <TradDtls> <TradDt> <Dt> </Dt> </TradDt> <SttlmDt> <Dt> </Dt> </SttlmDt> <FinInstrmId> <Dt> </Dt> <Dt> </Dt> <ISIN>XX </ISIN> </FinInstrmId> <QtyAndAcctDtls> <SttlmQty> <Qty> <Unit>5000</Unit> </Qty> </SttlmQty> <SfkpgAcct> </SfkpgAcct> <SttlmParams> <SctiesTxTp> <Cd>TRAD</Cd> </SctiesTxTp> <SttlmTxCond> <Cd>SPST</Cd> </SttlmTxCond> </SttlmParams> <DlvrgSttlmPties> <Dpstry> Message reference Movement Type (Receive) Payment Type (Against Payment) Trade date Settlement date Quantity Safekeeping account Settlement transaction type Indication settlement of cash and securities should take place in different location

24 </Dpstry> <Pty1> </Pty1> <Pty2> </Pty2> <DlvrgSttlmPties> <CshPties> <CdtrAgt> </CdtrAgt> <Cdtr> <AnyBIC>NCSDXX21</AnyBIC> <AnyBIC>SUBCXX34</AnyBIC> <AnyBIC>SELLGB22</AnyBIC> <BICFI>CRBKLU22</BICFI> <AnyBIC>SELLGB22</AnyBIC> <CshAcct> <Prty>123456</Prty> </ CshAcct > </Cdtr> </CshPties> <SttlmAmt> <Amt Ccy="EUR">100000</Amt> <CdtDbtInd>DBIT</CdtDbtInd> </SttlmAmt> Place of settlement Delivering agent Client of the delivering agent Account with institution: the bank to which the payment need to be made in favour of the beneficial owner identified later. Party to be credited with the payment Account to be credited Settlement amount Debit Indicator 2. Instruct securities settlement CUSTXXPP sends the securities settlement instruction to NCSDXXPP. CUSTXXPP sese.023 Receive Free to NCSDXXPP <TxId> </TxId> <SttlmTpAndAddtlParams> <SctiesMvmntTp>RECE</SctiesMvmntTp> <Pmt>FREE</Pmt> </SttlmTpAndAddtlParams> <TradDtls> <TradDt> Message reference Movement Type (Receive) Payment Type (Free of Payment)

25 <Dt> <Dt> </Dt> </Dt> </TradDt> <SttlmDt> <Dt> <Dt> </Dt> </Dt> </SttlmDt> <FinInstrmId> <ISIN>XX </ISIN> </FinInstrmId> <QtyAndAcctDtls> <SttlmQty> <Qty> <Unit>5000</Unit> </Qty> </SttlmQty> <SfkpgAcct> </SfkpgAcct> <SttlmParams> <SctiesTxTp> <Cd>TRAD</Cd> </SctiesTxTp> </SttlmParams> <DlvrgSttlmPties> <Dpstry> <AnyBIC>NCSDXX21</AnyBIC> </Dpstry> <Pty1> <AnyBIC>SUBCXX34</AnyBIC> </Pty1> <Pty2> <AnyBIC>SELLGB22</AnyBIC> </Pty2> <DlvrgSttlmPties> Trade date Settlement date Quantity Safekeeping account Settlement transaction type Place of settlement Delivering agent Client of the delivering agent

26 3. Instruct cash transfer CUSTXXPP sends a cash transfer instruction to CRBKLU22. CUSTXXPP Payment Message to CRBKLU22 e.g. pacs.009 <FinInstnCdtTrf> <GrpHdr> <MsgId>ACCTOWNERREF1234</MsgId> <CreDtTm> T09:30:47.0Z</CreDtTm> <NbOfTxs>1</NbOfTxs> <SttlmInf> <SttlmMtd>INDA</SttlmMtd> </SttlmInf> </GrpHdr> <CdtTrfTxInf> <PmtId> <EndToEndId> </EndToEndId> <TxId> </TxId> <InstrId> </InstrId> </PmtId> <IntrBkSttlmAmt Ccy="EUR">100000</IntrBkSttlmAmt> <IntrBkSttlmDt> </IntrBkSttlmDt> <Dbtr> <FinInstnId> <BICFI>INVEUS33</BICFI> </FinInstnId> </Dbtr> <CdtrAgt> <FinInstnId> <BICFI>CRBKLU22</BICFI> </FinInstnId> </CdtrAgt> <Cdtr> <FinInstnId> <BICFI>SELLGB22</BICFI> </FinInstnId> </Cdtr> <CdtrAcct> <IBAN>LU </IBAN> </CdtrAcct> </CdtTrfTxInf> </FinInstnCdtTrf> Message reference Message ID Creation Date and Time Number of Transactions Settlement Method Related Reference Transaction Reference Number Settlement Amount Settlement Date Ordering Institution Creditor Agent = Account with Institution (in MT) Beneficiary Institution Beneficiary Account

27 4. Sese.024 status. (1) From CSD to custodian. NCSDXXPP reports back a matching status on the receive free instruction. NCSDXX21 sese.024 Status Advice to CUSTXXPP </TxId> <AcctOwnrTxId> </AcctOwnrTxId> </TxId> <MtchgSts> <Mtchd> </Mtchd> </MtchgSts> <TxDtls> <SfkpgAcct> </SfkpgAcct> <FinInstrmId> <ISIN>XX </ISIN> </FinInstrmId> <SttlmQty> <Qty> <Unit>5000</Unit> </Qty> </SttlmQty> <SttlmAmt> <Amt Ccy="EUR">100000</Amt> <CdtDbtInd>DBIT</CdtDbtInd> </SttlmAmt> <SttlmDt> <Dt> </Dt> </SttlmDt> <TradDt> <Dt> </Dt> </TradDt> <Dt> </Dt> <Dt> </Dt> <SctiesMvmntTp>RECE</SctiesMvmntTp> <Pmt>FREE</Pmt> <SttlmParams> <SctiesTxTp> <Cd>TRAD</Cd> </SctiesTxTp> </SttlmParams> </TxDtls>

28 (2) From custodian to investment manager. CUSTXXPP reports back the status on the cash/securities split settlement receive instruction. NCSDXX21 sese.024 Status Advice to CUSTXXPP <TxId> <AcctOwnrTxId> </AcctOwnrTxId> </TxId> <SttlmSts> <Pdg> <Rsn> <Cd> </Cd> </Rsn> </Pdg> </SttlmSts> <TxDtls> <Cd>AWSH</Cd> <SfkpgAcct> </SfkpgAcct> <FinInstrmId> <ISIN>XX </ISIN> </FinInstrmId> <SttlmQty> <Qty> <Unit>5000</Unit> </Qty> </SttlmQty> <SttlmAmt> <Amt Ccy="EUR">100000</Amt> <CdtDbtInd>DBIT</CdtDbtInd> </SttlmAmt> <SttlmDt> <Dt> </Dt> <Dt> </Dt> Specific status and codes for the process described in this MP: Pending [or <Flng> (Failing)] Awaiting Securities, Money Settled [or <Cd>AWMO</Cd> (Awaiting Money, Securities Settled)] </SttlmDt> <TradDt> <Dt> </Dt> </TradDt> <Dt> </Dt> <SctiesMvmntTp>RECE</SctiesMvmntTp> <Pmt>FREE</Pmt> <SttlmParams> <SctiesTxTp> <Cd>TRAD</Cd>

29 </SctiesTxTp> </SttlmParams> </TxDtls> 5. Confirm securities settlement NCSDXXPP sends a securities settlement confirmation to CUSTXXPP. <TxIDDtls> NCSDXXPP sese.025 to CUSTXXPP <AcctOwnrTxId> </AcctOwnrTxId> <SctiesMvmntTp>RECE</SctiesMvmntTp> <Pmt>FREE</Pmt> </TxIDDtls> <TradDtls> <TradDt> <Dt> </Dt> </TradDt> <SttlmDt> <Dt> </Dt> </SttlmDt> <Dt> </Dt> <Dt> </Dt> <FctvSttlmDt> <Dt> <Dt> </Dt> </Dt> </FctvSttlmDt> </TradDtls> <FinInstrmId> <ISIN>XX </ISIN> </FinInstrmId> <QtyAndAcctDtls> <SttlmQty> <Qty> <Unit>5000</Unit> </Qty> </SttlmQty> <SfkpgAcct> </SfkpgAcct> <SttlmParams> <SctiesTxTp> <Cd>TRAD</Cd> </SctiesTxTp> </SttlmParams> <DlvrgSttlmPties> Account Owner Reference Movement Type (Receive) Payment Type (Free of Payment) Trade date Settlement date Effective Settlement date Quantity Safekeeping account Settlement transaction type

30 <Dpstry> <AnyBIC>NCSDXX21</AnyBIC> </Dpstry> <Pty1> <AnyBIC>SUBCXX34</AnyBIC> </Pty1> <Pty2> <AnyBIC>SELLGB22</AnyBIC> </Pty2> <DlvrgSttlmPties> Place of settlement Delivering agent Client of the delivering agent 6. Confirm cash transfer CRBKLU22 sends a debit confirmation to CUSTXXPP. CRBKLU22 debit confirmation to CUSTXXPP, eg, camt.054 <BkToCstmrDbtCdtNtfctn> <GrpHdr> <MsgId>ACCTOWNERREF1234</MsgId> <CreDtTm> T09:30:47.0Z</CreDtTm> </GrpHdr> <Ntfctn> ABCDEF <CreDtTm> T09:30:47.0Z</CreDtTm> <Acct> <IBAN> LU01CUSTXPP </IBAN> </Acct> <Ntry> <NtryRef>TechnicalID1</NtryRef> <Amt Ccy="EUR">100000</Amt> <CdtDbtInd>DBIT</CdtDbtInd> <Sts>BOOK</Sts> <BookgDt> </BookgDt> <ValDt> </ValDt> <AcctSvcrRef>ABCDEF</AcctSvcrRef> Message reference Message ID Creation Date and Time Notification Reference (used for investigation on the Notification) Creation Date and Time Account Number of the CUSTXPP This is a technical reference from the account servicer to investigate on the entry when required. Only case where this element is used with a business meaning is in the case of a LOCKBOX (batched entry) Transaction Reference Number Status (Booked) Booking / Settlement Date Value Date Account Servicer Reference (may be

31 <BkTxCd> <Domn> <Cd>SECU</Cd> <Fmly> <Cd>SETT</Cd> <SubFmly>NTAV</SubFmly> </Fmly> </Domn> </BkTxCd> <NtryDtls> <TxDtls> <Refs> <EndToEndId> </EndToEndId> <TxId> </TxId> <InstrId> </InstrId> <AcctOwnrTxId> </AcctOwnrTxId> <AcctSvcrTxId> </AcctSvcrTxId> </Refs> <Amt Ccy="EUR">100000</Amt> <CdtDbtInd>DBIT</CdtDbtInd> <RltdPties> <Dbtr> <OrgId> <AnyBIC>INVEUS33</AnyBIC> </OrgId> </Dbtr> <Cdtr> <OrgId> <AnyBIC>SELLGB22</AnyBIC> </OrgId> </Cdtr> </RltdPties> </TxDtls> </NtryDtls> </Ntry> </Ntfctn> </BkToCstmrDbtCdtNtfctn> identical to NotificationId when single entry Securities Related Entry Settlements Entry Sub Family element mandatory Related Reference Transaction Reference Number Related Reference Amount Credit / Debit (Debit) Ordering Institution Beneficiary Institution

32 7. Confirm securities/cash split settlement a. Confirm securities CUSTXXPP sese.025 to INVEUS33 <TxIDDtls> <AcctOwnrTxId> </AcctOwnrTxId> <SctiesMvmntTp>RECE</SctiesMvmntTp> <Pmt>FREE</Pmt> </TxIDDtls> <TradDtls> <TradDt> <Dt> <Dt> </Dt> </Dt> </TradDt> <SttlmDt> <Dt> <Dt> </Dt> </Dt> </SttlmDt> <FctvSttlmDt> <Dt> <Dt> </Dt> </Dt> </FctvSttlmDt> </TradDtls> <FinInstrmId> <ISIN>XX </ISIN> </FinInstrmId> <QtyAndAcctDtls> <SttlmQty> <Qty> <Unit>5000</Unit> </Qty> </SttlmQty> <SfkpgAcct> </SfkpgAcct> <SttlmParams> <SctiesTxTp> <Cd>TRAD</Cd> </SctiesTxTp> <SttlmTxCond> <Cd>SPST</Cd> </SttlmTxCond> </SttlmParams> <DlvrgSttlmPties> <Dpstry> Account Owner Reference Movement Type (Receive) Payment Type (Free of Payment) Trade date Settlement date Effective Settlement date Quantity Safekeeping account Settlement transaction type Indication settlement of cash and securities took place in different location

33 <AnyBIC>NCSDXX21</AnyBIC> </Dpstry> <Pty1> <AnyBIC>SUBCXX34</AnyBIC> </Pty1> <Pty2> <AnyBIC>SELLGB22</AnyBIC> </Pty2> <DlvrgSttlmPties> Place of settlement Delivering agent Client of the delivering agent b. Confirm cash: CUSTXXPP debit confirmation to INVEUS33 eg, camt.054 <BkToCstmrDbtCdtNtfctn> <GrpHdr> <MsgId>ACCTOWNERREF1234</MsgId> <CreDtTm> T09:30:47.0Z</CreDtTm> </GrpHdr> <Ntfctn> <CreDtTm> T09:30:47.0Z</CreDtTm> <Acct> <IBAN> LU </IBAN> </Acct> <Ntry> <Amt Ccy="EUR">100000</Amt> <CdtDbtInd>DBIT</CdtDbtInd> <Sts>BOOK</Sts> <BookgDt> </BookgDt> <ValDt> </ValDt> <BkTxCd> <Domn> <Cd>SECU</Cd> <Fmly> <Cd>SETT</Cd> Message reference Message ID Creation Date and Time Account Servicer technical Reference Creation Date and Time Account Number Transaction Reference Number Status (Booked) Booking / Settlement Date Value Date Securities Related Entry Settlements Entry

34 <SubFmlyCd>NTAV</SubFmlyCd> </Fmly> </Domn> </BkTxCd> <NtryDtls> <TxDtls> <Refs> <EndToEndId> </EndToEndId> <InstrId> </InstrId> <AcctOwnrTxId> </AcctOwnrTxId> Related Reference <AcctSvcrTxId> </AcctSvcrTxId> Account Servicer Reference </Refs> <Amt Ccy="EUR">100000</Amt> Amount <CdtDbtInd>DBIT</CdtDbtInd> Credit / Debit (Debit) <RltdPties> <Dbtr> < Id> Ordering Institution <OrgId> <AnyBIC>INVEUS33</AnyBIC> </OrgId> </Dbtr> <Cdtr> < Id> Beneficiary Institution <OrgId> <AnyBIC>SELLGB22</AnyBIC> </OrgId> </Cdtr> </RltdPties> </TxDtls> </NtryDtls> </Ntry> </Ntfctn> </BkToCstmrDbtCdtNtfctn>

35 B. Scenario 2, CSD plays two roles: CUSTXXPP NCSDCCPP CRBKLU22 sese.023 Instruct/advise cash transfer sese.024 sese.024 sese.025 Confirm cash transfer Confirm cash transfer

36 A CSD participant settle a free of payment receipt of 5000 securities at the local CSD and request the payment of the deal amount to be made to a LU bank for further credit to account belonging to the seller of the shares. The LU bank happens to be the correspondent bank of the CSD in that market. 1. Instruction of the securities/cash split settlement CUSTXXPP sends the split cash/securities settlement instruction to NCSDXXPP. CUSTXXPP sese.023 Receive Against Payment to NCSDXXPP <TxId> </TxId> <SttlmTpAndAddtlParams> <SctiesMvmntTp>RECE</SctiesMvmntTp> <Pmt>APMT</Pmt> </SttlmTpAndAddtlParams> <TradDtls> <TradDt> <Dt> </Dt> </TradDt> <SttlmDt> <Dt> </Dt> </SttlmDt> <FinInstrmId> <Dt> </Dt> <Dt> </Dt> <ISIN>XX </ISIN> </FinInstrmId> <QtyAndAcctDtls> <SttlmQty> <Qty> <Unit>5000</Unit> </Qty> </SttlmQty> <SfkpgAcct> </SfkpgAcct> <SttlmParams> <SctiesTxTp> <Cd>TRAD</Cd> </SctiesTxTp> <SttlmTxCond> <Cd>SPST</Cd> </SttlmTxCond> </SttlmParams> <DlvrgSttlmPties> <Dpstry> Message reference Movement Type (Receive) Payment Type (Against Payment) Trade date Settlement date Quantity Safekeeping account Settlement transaction type Indication settlement of cash and securities should take place in different location

37 </Dpstry> <Pty1> </Pty1> <Pty2> </Pty2> <DlvrgSttlmPties> <CshPties> <CdtrAgt> </CdtrAgt> <Cdtr> <AnyBIC>NCSDXX21</AnyBIC> <AnyBIC>SUBCXX34</AnyBIC> <AnyBIC>SELLGB22</AnyBIC> <BICFI>CRBKLU22</BICFI> <BICFI>SELLGB22</BICFI> <CshAcct> <Prty>123456</Prty> </ CshAcct > </Cdtr> </CshPties> <SttlmAmt> <Amt Ccy="EUR">100000</Amt> <CdtDbtInd>DBIT</CdtDbtInd> </SttlmAmt> Place of settlement Delivering agent Client of the delivering agent (= Account with institution in MT): the bank to which the payment need to be made in favor of the beneficial owner identified later. Party to be credited with the payment (= Beneficiary institution in MT) Account to be credited Settlement amount Debit Indicator 2. Instruct cash transfer NCSDXXPP sends a cash transfer instruction to CRBKLU22. NCSDXXPP Payment Message to CRBKLU22 e.g. pacs.009 <FinInstnCdtTrf> <GrpHdr> <MsgId>ACCTOWNERREF1234</MsgId> <CreDtTm> T09:30:47.0Z</CreDtTm> <NbOfTxs>1</NbOfTxs> <SttlmInf> Message reference Message ID Creation Date and Time Number of Transactions

38 <SttlmMtd>INDA</SttlmMtd> </SttlmInf> </GrpHdr> <CdtTrfTxInf> <PmtId> <EndToEndId> </EndToEndId> <TxId> </TxId> </PmtId> <PmtTpInf> <CtgyPurp> <Cd>SECU</Cd> </CtgyPurp> </PmtTpInf> <IntrBkSttlmAmt Ccy="EUR">100000</IntrBkSttlmAmt> <IntrBkSttlmDt> </IntrBkSttlmDt> <Dbtr> <FinInstnId> <BICFI>CUSTXXPP</BICFI> </FinInstnId> </Dbtr> <CdtrAgt> <FinInstnId> <BICFI>CRBKLU22</BICFI> </FinInstnId> </CdtrAgt> <Cdtr> <FinInstnId> <BICFI>SELLGB22</ BICFI > </FinInstnId> </Cdtr> <CdtrAcct> <IBAN>LU </IBAN> </CdtrAcct> </CdtTrfTxInf> </FinInstnCdtTrf> Settlement Method Related Reference Transaction Reference Number Optional but recommended by Payment practice Settlement Amount Settlement Date Ordering Institution Creditor Agent = Account with Institution (in MT) Beneficiary Institution Beneficiary Account 3. Sese.024 Status Advice. (1) From CSD to custodian. NCSDXXPP reports back a matching status on the instruction. NCSDXXPP MT sese.024 Status Advice to CUSTXXPP

39 <TxId> <AcctOwnrTxId> </AcctOwnrTxId> </TxId> <SttlmSts> <Pdg> <Rsn> <Cd> </Cd> </Rsn> </Pdg> </SttlmSts> <TxDtls> <Cd>AWSH</Cd> <SfkpgAcct> </SfkpgAcct> <FinInstrmId> <ISIN>XX </ISIN> </FinInstrmId> <SttlmQty> <Qty> <Unit>5000</Unit> </Qty> </SttlmQty> <SttlmAmt> <Amt Ccy="EUR">100000</Amt> <CdtDbtInd>DBIT</CdtDbtInd> </SttlmAmt> <SttlmDt> <Dt> </Dt> </SttlmDt> <TradDt> <Dt> </Dt> </TradDt> <Dt> </Dt> <Dt> </Dt> <SctiesMvmntTp>RECE</SctiesMvmntTp> <Pmt>FREE</Pmt> <SttlmParams> <SctiesTxTp> <Cd>TRAD</Cd> </SctiesTxTp> </SttlmParams> </TxDtls> Specific status and codes for the process described in this MP: Pending [or <Flng> (Failing)] Awaiting Securities, Money Settled [or <Cd>AWMO</Cd> (Awaiting Money, Securities Settled)]

40 4. Confirm cash transfer CRBKLU22 sends a debit confirmation to NCSDXXPP. CRBKLU22 debit confirmation to NCSDXXPP eg, camt.054 <BkToCstmrDbtCdtNtfctn> <GrpHdr> <MsgId>ACCTOWNERREF1234</MsgId> <CreDtTm> T09:30:47.0Z</CreDtTm> </GrpHdr> <Ntfctn> ABCDEF <CreDtTm> T09:30:47.0Z</CreDtTm> <Acct> <IBAN>LU </IBAN> </Acct> <Ntry> <NtryRef>TechnicalID1</NtryRef> <Amt Ccy="EUR">100000</Amt> <CdtDbtInd>DBIT</CdtDbtInd> <Sts>BOOK</Sts> <BookgDt> </BookgDt> <ValDt> </ValDt> <AcctSvcrRef>ABCDEF</AcctSvcrRef> <BkTxCd> <Domn> <Cd>SECU</Cd> <Fmly> <Cd>SETT</Cd> <SubFmlyCd>NTAV</SubFmlyCd> </Fmly> </Domn> </BkTxCd> <NtryDtls> <TxDtls> <Refs> <EndToEndId> </EndToEndId> <TxId> </TxId> </Refs> <Amt Ccy="EUR">100000</Amt> <CdtDbtInd>DBIT</CdtDbtInd> <RltdPties> <Dbtr> <OrgId> <AnyBIC>CUSTXXPP</AnyBIC> </OrgId> Message reference Message ID Creation Date and Time Account Servicer Reference Creation Date and Time Account Number (Account held by NCSDXXPP at CRBKLU22) Technical Reference Transaction Reference Number Status (Booked) Booking / Settlement Date Value Date Account Servicer Reference Securities Related Entry Settlements Entry Related Reference Amount Credit / Debit (Debit) Ordering Institution

41 </Dbtr> <Cdtr> <OrgId> <AnyBIC>CUSTXXPP</AnyBIC> </OrgId> </Cdtr> </RltdPties> </TxDtls> </NtryDtls> </Ntry> </Ntfctn> </BkToCstmrDbtCdtNtfctn> Ordering Institution 5. Confirm securities/cash split settlement NCSDXXPP sends the split cash/securities settlement confirmation to CUSTXXPP. a. Confirm securities <TxIDDtls> NCSDXXPP sese.025 to CUSTXXPP <AcctOwnrTxId> </AcctOwnrTxId> <SctiesMvmntTp>RECE</SctiesMvmntTp> <Pmt>FREE</Pmt> </TxIDDtls> <TradDtls> <TradDt> <Dt> <Dt> </Dt> </Dt> </TradDt> <SttlmDt> <Dt> <Dt> </Dt> </Dt> </SttlmDt> <FctvSttlmDt> <Dt> </Dt> <Dt> </Dt> </FctvSttlmDt> </TradDtls> <FinInstrmId> Account Owner Reference Movement Type (Receive) Payment Type (Free of Payment) Trade date Settlement date Effective Settlement date

42 <ISIN>XX </ISIN> </FinInstrmId> <QtyAndAcctDtls> <SttlmQty> <Qty> <Unit>5000</Unit> </Qty> </SttlmQty> <SfkpgAcct> </SfkpgAcct> <SttlmParams> <SctiesTxTp> <Cd>TRAD</Cd> </SctiesTxTp> </SttlmParams> <DlvrgSttlmPties> <Dpstry> <AnyBIC>NCSDXX21</AnyBIC> </Dpstry> <Pty1> <AnyBIC>SUBCXX34</AnyBIC> </Pty1> <Pty2> <AnyBIC>SELLGB22</AnyBIC> </Pty2> <DlvrgSttlmPties> Quantity Safekeeping account Settlement transaction type Place of settlement Delivering agent Client of the delivering agent b. Confirm cash: CRBKLU22 debit confirmation to NCSDXXPP eg, camt.054 <BkToCstmrDbtCdtNtfctn> <GrpHdr> <MsgId>ACCTOWNERREF1234</MsgId> <CreDtTm> T09:30:47.0Z</CreDtTm> </GrpHdr> <Ntfctn> <CreDtTm> T09:30:47.0Z</CreDtTm> <Acct> <IBAN>LU </IBAN> Message reference Message ID Creation Date and Time Notification Reference Creation Date and Time Account Number

43 </Acct> <Ntry> <NtryRef>TechnicalID1</NtryRef> <Amt Ccy="EUR">100000</Amt> <CdtDbtInd>DBIT</CdtDbtInd> <Sts>BOOK</Sts> <BookgDt> </BookgDt> <ValDt> </ValDt> <AcctSvcrRef> </AcctSvcrRef> <BkTxCd> <Domn> <Cd>SECU</Cd> <Fmly> <Cd>SETT</Cd> <SubFmlyCd>NTAV</SubFmlyCd> </Fmly> </Domn> </BkTxCd> <NtryDtls> <TxDtls> <Refs> <EndToEndId> </EndToEndId> </Refs> <Amt Ccy="EUR">100000</Amt> <CdtDbtInd>DBIT</CdtDbtInd> <RltdPties> <Dbtr> <OrgId> <AnyBIC> INVEUS33</AnyBIC> </OrgId> </Dbtr> <Cdtr> <OrgId> <AnyBIC> SELLGB22</AnyBIC> </OrgId> </Cdtr> </RltdPties> </TxDtls> </NtryDtls> </Ntry> </Ntfctn> </BkToCstmrDbtCdtNtfctn> Technical Reference Transaction Reference Number Status (Booked) Booking / Settlement Date Value Date Account Servicer Reference (same as Notification ref since only one transaction) Securities Related Entry Settlements Entry Amount Credit / Debit (Debit) Ordering Institution Beneficiary Institution