PriceReportCorrectionV03

reda.003.001.03

Scope A report provider, eg, a transfer agent, fund accountant or market data provider, sends the PriceReportCorrection message to the report recipient, eg, a fund management company, transfer agent, market data provider, regulator or any other interested party to correct at least one of the prices for a financial instrument that was reported in a previously sent PriceReport message. Usage The PriceReportCorrection message is used to correct information reported in a previously sent PriceReport. 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 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
%% PriceReportCorrectionV03 recursion level 0 with max 0
PriceReportCorrectionV03 *-- "1..1" MessageIdentification1 : MessageIdentification
PriceReportCorrectionV03 *-- "0..1" AdditionalReference3 : PoolReference
PriceReportCorrectionV03 *-- "0..1" AdditionalReference3 : PreviousReference
PriceReportCorrectionV03 *-- "1..1" Pagination : MessagePagination
PriceReportCorrectionV03 *-- "1..1" PriceCorrection3 : PriceCorrectionDetails
  

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

MessageIdentification building block

Reference that uniquely identifies a message from a business application standpoint. Identifies a message by a unique identifier and the date and time when the message was created by the sender. For comparison, see the ISO20022 official specification

classDiagram
   direction tb
%% MessageIdentification1 recursion level 0 with max 1
class MessageIdentification1{
    Identification IsoMax35Text
    CreationDateTime IsoISODateTime
}
  

MessageIdentification1 members

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

MessagePagination building block

Pagination of the message. Number used to sequence pages when it is not possible for data to be conveyed in a single message and the data has to be split across several pages (messages). For comparison, see the ISO20022 official specification

classDiagram
   direction tb
%% Pagination recursion level 0 with max 1
class Pagination{
    PageNumber IsoMax5NumericText
    LastPageIndicator IsoYesNoIndicator
}
  

Pagination 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
%% PriceCorrection3 recursion level 0 with max 1
PriceCorrection3 *-- "1..1" PriceValuation3 : PreviouslySentPriceDetails
PriceCorrection3 *-- "0..1" PriceValuation3 : CorrectedPriceDetails
PriceCorrection3 *-- "0..0" Extension1 : Extension
%% PriceValuation3 recursion level 1 with max 1
class PriceValuation3{
    Identification IsoMax35Text
    TotalNAV IsoActiveOrHistoricCurrencyAndAmount
    ValuationType ValuationTiming1Code
    ValuationFrequency EventFrequency1Code
    OfficialValuationIndicator IsoYesNoIndicator
    SuspendedIndicator IsoYesNoIndicator
}
PriceValuation3 *-- "0..1" IDateAndDateTimeChoice : ValuationDateTime
PriceValuation3 *-- "1..1" IDateAndDateTimeChoice : NAVDateTime
PriceValuation3 *-- "1..1" FinancialInstrument8 : FinancialInstrumentDetails
PriceValuation3 *-- "0..1" IPartyIdentification2Choice : FundManagementCompany
PriceValuation3 *-- "0..1" FinancialInstrumentQuantity1 : TotalUnitsNumber
PriceValuation3 *-- "0..1" IDateAndDateTimeChoice : NextValuationDateTime
PriceValuation3 *-- "0..1" IDateAndDateTimeChoice : PreviousValuationDateTime
PriceValuation3 *-- "0..0" UnitPrice15 : PriceDetails
PriceValuation3 *-- "0..0" ValuationStatistics3 : ValuationStatistics
PriceValuation3 *-- "0..1" PerformanceFactors1 : PerformanceDetails
%% PriceValuation3 recursion level 1 with max 1
class PriceValuation3{
    Identification IsoMax35Text
    TotalNAV IsoActiveOrHistoricCurrencyAndAmount
    ValuationType ValuationTiming1Code
    ValuationFrequency EventFrequency1Code
    OfficialValuationIndicator IsoYesNoIndicator
    SuspendedIndicator IsoYesNoIndicator
}
PriceValuation3 *-- "0..1" IDateAndDateTimeChoice : ValuationDateTime
PriceValuation3 *-- "1..1" IDateAndDateTimeChoice : NAVDateTime
PriceValuation3 *-- "1..1" FinancialInstrument8 : FinancialInstrumentDetails
PriceValuation3 *-- "0..1" IPartyIdentification2Choice : FundManagementCompany
PriceValuation3 *-- "0..1" FinancialInstrumentQuantity1 : TotalUnitsNumber
PriceValuation3 *-- "0..1" IDateAndDateTimeChoice : NextValuationDateTime
PriceValuation3 *-- "0..1" IDateAndDateTimeChoice : PreviousValuationDateTime
PriceValuation3 *-- "0..0" UnitPrice15 : PriceDetails
PriceValuation3 *-- "0..0" ValuationStatistics3 : ValuationStatistics
PriceValuation3 *-- "0..1" PerformanceFactors1 : PerformanceDetails
%% Extension1 recursion level 1 with max 1
class Extension1{
    PlaceAndName IsoMax350Text
    Text IsoMax350Text
}
  

PriceCorrection3 members

Extensibility and generalization considerations

To facilitate generalized design patterns in the system, the PriceReportCorrectionV03 implementation follows a specific implementaiton pattern. First of all, PriceReportCorrectionV03 impleemnts IOuterRecord indicating it is the outermost logical part of the message definition. Like all message wrappers, PriceReportCorrectionV03Document implements IOuterDocument. Because PriceReportCorrectionV03 implements IOuterDocument, it is a suitable template parameter for IOuterDocument, and causes the internal ‘Message’ to be of type PriceReportCorrectionV03.

classDiagram
    class IOuterRecord
    PriceReportCorrectionV03 --|> IOuterRecord : Implements
    PriceReportCorrectionV03Document --|> IOuterDocument~PriceReportCorrectionV03~ : Implements
    class IOuterDocument~PriceReportCorrectionV03~ {
        PriceReportCorrectionV03 Message
     }
  

Document wrapper for serialization

The only real purpose PriceReportCorrectionV03Document serves is to cause the document to be serialized into the ‘urn:iso:std:iso:20022:tech:xsd:reda.003.001.03’ namespace. Therefore, it will probably be the usual practice to build the message and construct this wrapper at the last minute using PriceReportCorrectionV03.ToDocument() method. The returned PriceReportCorrectionV03Document value will serialize correctly according to ISO 20022 standards.

classDiagram
    PriceReportCorrectionV03Document *-- PriceReportCorrectionV03 : 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.003.001.03">
    <PricRptCrrctnV03>
        <MsgId>
            <!-- MessageIdentification inner content -->
        </MsgId>
        <PoolRef>
            <!-- PoolReference inner content -->
        </PoolRef>
        <PrvsRef>
            <!-- PreviousReference inner content -->
        </PrvsRef>
        <MsgPgntn>
            <!-- MessagePagination inner content -->
        </MsgPgntn>
        <PricCrrctnDtls>
            <!-- PriceCorrectionDetails inner content -->
        </PricCrrctnDtls>
    </PricRptCrrctnV03>
</Document>

Data from ISO specification

This is the technical data from the specification document.

<messageDefinition
  xmi:id="_ZtBOz9EvEd-BzquC8wXy7w_-770509177"
  previousVersion="_Zs3dytEvEd-BzquC8wXy7w_-233980086"
  name="PriceReportCorrectionV03"
  definition="Scope&#xD;&#xA;A report provider, eg, a transfer agent, fund accountant or market data provider, sends the PriceReportCorrection message to the report recipient, eg, a fund management company, transfer agent, market data provider, regulator or any other interested party to correct at least one of the prices for a financial instrument that was reported in a previously sent PriceReport message.&#xD;&#xA;Usage&#xD;&#xA;The PriceReportCorrection message is used to correct information reported in a previously sent PriceReport.&#xD;&#xA;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 sent."
  registrationStatus="Registered"
  messageSet="_urpIICeJEeOCeO5e7islRQ"
  xmlTag="PricRptCrrctnV03"
  rootElement="Document"
  xmlns:xmi="http://www.omg.org/XMI">
  <constraint
    xmi:id="_ZtKYtNEvEd-BzquC8wXy7w_-307826730"
    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="_ZtBO0NEvEd-BzquC8wXy7w_1796163719"
    name="MessageIdentification"
    definition="Reference that uniquely identifies a message from a business application standpoint."
    registrationStatus="Provisionally Registered"
    maxOccurs="1"
    minOccurs="1"
    xmlTag="MsgId"
    complexType="_Q7pG5Np-Ed-ak6NoX_4Aeg_-967008570" />
  <messageBuildingBlock
    xmi:id="_ZtKYsNEvEd-BzquC8wXy7w_133617453"
    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="_ZtKYsdEvEd-BzquC8wXy7w_144699623"
    name="PreviousReference"
    definition="Reference to a linked message that was previously sent."
    registrationStatus="Provisionally Registered"
    maxOccurs="1"
    minOccurs="0"
    xmlTag="PrvsRef"
    complexType="_Q6vvAdp-Ed-ak6NoX_4Aeg_2101402955" />
  <messageBuildingBlock
    xmi:id="_ZtKYstEvEd-BzquC8wXy7w_-1002757457"
    name="MessagePagination"
    definition="Pagination of the message."
    registrationStatus="Provisionally Registered"
    maxOccurs="1"
    minOccurs="1"
    xmlTag="MsgPgntn"
    complexType="_Q65gBdp-Ed-ak6NoX_4Aeg_-21330104" />
  <messageBuildingBlock
    xmi:id="_ZtKYs9EvEd-BzquC8wXy7w_1468107589"
    name="PriceCorrectionDetails"
    definition="Information related to the correction of a price of a financial instrument."
    registrationStatus="Provisionally Registered"
    minOccurs="1"
    xmlTag="PricCrrctnDtls"
    complexType="_RLuxVdp-Ed-ak6NoX_4Aeg_993416543" />
  <messageDefinitionIdentifier
    businessArea="reda"
    messageFunctionality="003"
    flavour="001"
    version="03" />
</messageDefinition>

ISO Building Blocks

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