PriceReportCorrectionV02

reda.003.001.02

Scope The PriceReportCorrection message is sent by a report provider, eg, a fund accountant, transfer agent, market data provider, or any other interested party, to a report user, eg, a fund management company, a transfer agent, market data provider, regulator or any other interested party. The message is used to correct at least one of the prices, of a financial instrument, that was quoted in a previously sent PriceReport message. Usage The PriceReportCorrection message is used to correct information in a PriceReport message that was previously sent by the fund accountant. If an entire PriceReport message must be corrected, eg, due to an incorrect trade date, it is recommended that a PriceReportCancellation message is used to cancel the entire PriceReport message and a new PriceReport message is sent.

Message Construction

Every ISO20022 message has at the highest level what we call ‘building blocks’. Because the message is constructed as immutable records, the association is by composition. Below you can see the relationship between the message and its constituent building blocks: For comparison, see the ISO20022 official specification

classDiagram
     direction LR
%% PriceReportCorrectionV02 recursion level 0 with max 0
PriceReportCorrectionV02 *-- "0..1" AdditionalReference3 : PoolReference
PriceReportCorrectionV02 *-- "1..1" AdditionalReference3 : PreviousReference
PriceReportCorrectionV02 *-- "1..1" PriceCorrection2 : PriceCorrectionDetails
  

Now, we will zero-in one-by-one on each of these building blocks.

PoolReference building block

Collective reference identifying a set of messages. References a related message or provides another reference, such as a pool reference, linking a set of messages. The party which issued the related reference may be the Sender of the referenced message or a party other than the Sender. For comparison, see the ISO20022 official specification

classDiagram
   direction tb
%% AdditionalReference3 recursion level 0 with max 1
class AdditionalReference3{
    Reference IsoMax35Text
    MessageName IsoMax35Text
}
AdditionalReference3 *-- "0..1" IPartyIdentification2Choice : ReferenceIssuer
%% IPartyIdentification2Choice recursion level 1 with max 1
  

AdditionalReference3 members

PreviousReference building block

Reference to a linked message that was previously sent. References a related message or provides another reference, such as a pool reference, linking a set of messages. The party which issued the related reference may be the Sender of the referenced message or a party other than the Sender. For comparison, see the ISO20022 official specification

classDiagram
   direction tb
%% AdditionalReference3 recursion level 0 with max 1
class AdditionalReference3{
    Reference IsoMax35Text
    MessageName IsoMax35Text
}
AdditionalReference3 *-- "0..1" IPartyIdentification2Choice : ReferenceIssuer
%% IPartyIdentification2Choice recursion level 1 with max 1
  

AdditionalReference3 members

PriceCorrectionDetails building block

Information related to the correction of a price of a financial instrument. Original and corrected price information of an investment fund. For comparison, see the ISO20022 official specification

classDiagram
   direction tb
%% PriceCorrection2 recursion level 0 with max 1
PriceCorrection2 *-- "1..1" PriceValuation2 : PreviouslySentPriceDetails
PriceCorrection2 *-- "0..1" PriceValuation2 : CorrectedPriceDetails
PriceCorrection2 *-- "0..0" Extension1 : Extension
%% PriceValuation2 recursion level 1 with max 1
class PriceValuation2{
    Identification IsoMax35Text
    TotalNAV IsoActiveOrHistoricCurrencyAndAmount
    ValuationCycle ValuationTiming1Code
    SuspendedIndicator IsoYesNoIndicator
}
PriceValuation2 *-- "0..1" IDateAndDateTimeChoice : ValuationDateTime
PriceValuation2 *-- "1..1" IDateAndDateTimeChoice : TradeDateTime
PriceValuation2 *-- "1..1" FinancialInstrument5 : FinancialInstrumentDetails
PriceValuation2 *-- "0..1" FinancialInstrumentQuantity1 : TotalUnitsNumber
PriceValuation2 *-- "0..1" IDateAndDateTimeChoice : NextValuationDateTime
PriceValuation2 *-- "0..1" IDateAndDateTimeChoice : PreviousValuationDateTime
PriceValuation2 *-- "0..0" UnitPrice6 : PriceDetails
PriceValuation2 *-- "0..0" ValuationStatistics2 : ValuationStatistics
%% PriceValuation2 recursion level 1 with max 1
class PriceValuation2{
    Identification IsoMax35Text
    TotalNAV IsoActiveOrHistoricCurrencyAndAmount
    ValuationCycle ValuationTiming1Code
    SuspendedIndicator IsoYesNoIndicator
}
PriceValuation2 *-- "0..1" IDateAndDateTimeChoice : ValuationDateTime
PriceValuation2 *-- "1..1" IDateAndDateTimeChoice : TradeDateTime
PriceValuation2 *-- "1..1" FinancialInstrument5 : FinancialInstrumentDetails
PriceValuation2 *-- "0..1" FinancialInstrumentQuantity1 : TotalUnitsNumber
PriceValuation2 *-- "0..1" IDateAndDateTimeChoice : NextValuationDateTime
PriceValuation2 *-- "0..1" IDateAndDateTimeChoice : PreviousValuationDateTime
PriceValuation2 *-- "0..0" UnitPrice6 : PriceDetails
PriceValuation2 *-- "0..0" ValuationStatistics2 : ValuationStatistics
%% Extension1 recursion level 1 with max 1
class Extension1{
    PlaceAndName IsoMax350Text
    Text IsoMax350Text
}
  

PriceCorrection2 members

Extensibility and generalization considerations

To facilitate generalized design patterns in the system, the PriceReportCorrectionV02 implementation follows a specific implementaiton pattern. First of all, PriceReportCorrectionV02 impleemnts IOuterRecord indicating it is the outermost logical part of the message definition. Like all message wrappers, PriceReportCorrectionV02Document implements IOuterDocument. Because PriceReportCorrectionV02 implements IOuterDocument, it is a suitable template parameter for IOuterDocument, and causes the internal ‘Message’ to be of type PriceReportCorrectionV02.

classDiagram
    class IOuterRecord
    PriceReportCorrectionV02 --|> IOuterRecord : Implements
    PriceReportCorrectionV02Document --|> IOuterDocument~PriceReportCorrectionV02~ : Implements
    class IOuterDocument~PriceReportCorrectionV02~ {
        PriceReportCorrectionV02 Message
     }
  

Document wrapper for serialization

The only real purpose PriceReportCorrectionV02Document serves is to cause the document to be serialized into the ‘urn:iso:std:iso:20022:tech:xsd:reda.003.001.02’ namespace. Therefore, it will probably be the usual practice to build the message and construct this wrapper at the last minute using PriceReportCorrectionV02.ToDocument() method. The returned PriceReportCorrectionV02Document value will serialize correctly according to ISO 20022 standards.

classDiagram
    PriceReportCorrectionV02Document *-- PriceReportCorrectionV02 : Document
  

Sample of message format

This is an abbreviated version of what the message should look like.

<Document xmlns="urn:iso:std:iso:20022:tech:xsd:reda.003.001.02">
    <reda.003.001.02>
        <PoolRef>
            <!-- PoolReference inner content -->
        </PoolRef>
        <PrvsRef>
            <!-- PreviousReference inner content -->
        </PrvsRef>
        <PricCrrctnDtls>
            <!-- PriceCorrectionDetails inner content -->
        </PricCrrctnDtls>
    </reda.003.001.02>
</Document>

Data from ISO specification

This is the technical data from the specification document.

<messageDefinition
  xmi:id="_Zs3dytEvEd-BzquC8wXy7w_-233980086"
  nextVersions="_ZtBOz9EvEd-BzquC8wXy7w_-770509177"
  name="PriceReportCorrectionV02"
  definition="Scope&#xD;&#xA;The PriceReportCorrection message is sent by a report provider, eg, a fund accountant, transfer agent, market data provider, or any other interested party, to a report user, eg, a fund management company, a transfer agent, market data provider, regulator or any other interested party.&#xD;&#xA;The message is used to correct at least one of the prices, of a financial instrument, that was quoted in a previously sent PriceReport message.&#xD;&#xA;Usage&#xD;&#xA;The PriceReportCorrection message is used to correct information in a PriceReport message that was previously sent by the fund accountant. If an entire PriceReport message must be corrected, eg, due to an incorrect trade date, it is recommended that a PriceReportCancellation message is used to cancel the entire PriceReport message and a new PriceReport message is sent."
  registrationStatus="Registered"
  messageSet="_urpIICeJEeOCeO5e7islRQ"
  xmlName="reda.003.001.02"
  xmlTag="reda.003.001.02"
  rootElement="Document"
  xmlns:xmi="http://www.omg.org/XMI">
  <constraint
    xmi:id="_ZtBOwNEvEd-BzquC8wXy7w_157595307"
    name="PriceCorrectionRepeatRule"
    definition="All information that was sent in a Price Report message should be repeated in the Price Report Correction message. Only price information that has been corrected should be quoted in CorrectedPriceDetails."
    registrationStatus="Provisionally Registered" />
  <messageBuildingBlock
    xmi:id="_Zs3dy9EvEd-BzquC8wXy7w_-1170807267"
    name="PoolReference"
    definition="Collective reference identifying a set of messages."
    registrationStatus="Provisionally Registered"
    maxOccurs="1"
    minOccurs="0"
    xmlTag="PoolRef"
    complexType="_Q6vvAdp-Ed-ak6NoX_4Aeg_2101402955" />
  <messageBuildingBlock
    xmi:id="_Zs3dzNEvEd-BzquC8wXy7w_-1180041935"
    name="PreviousReference"
    definition="Reference to a linked message that was previously sent."
    registrationStatus="Provisionally Registered"
    maxOccurs="1"
    minOccurs="1"
    xmlTag="PrvsRef"
    complexType="_Q6vvAdp-Ed-ak6NoX_4Aeg_2101402955" />
  <messageBuildingBlock
    xmi:id="_Zs3dzdEvEd-BzquC8wXy7w_292430358"
    name="PriceCorrectionDetails"
    definition="Information related to the correction of a price of a financial instrument."
    registrationStatus="Provisionally Registered"
    minOccurs="1"
    xmlTag="PricCrrctnDtls"
    complexType="_U1YYltp-Ed-ak6NoX_4Aeg_243480882" />
  <messageDefinitionIdentifier
    businessArea="reda"
    messageFunctionality="003"
    flavour="001"
    version="02" />
</messageDefinition>

ISO Building Blocks

The following items are used as building blocks to construct this message.