Iso20022

StandingSettlementInstructionV01

reda.056.001.01

Scope An instructing party sends the StandingSettlementInstruction (SSI) message to the receiver to create or update a standing cash or securities settlement instruction. The message can also be used to notify a counterparty of an SSI.

Usage The instructing party (initiator) is: • An account servicer, for example, a global custodian or prime broker • A counterparty in a transaction, for example:

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
%% StandingSettlementInstructionV01 recursion level 0 with max 0
class StandingSettlementInstructionV01{
    MessageReferenceIdentification IsoMax35Text
    SettlementCurrency ActiveCurrencyCode
}
StandingSettlementInstructionV01 *-- "0..1" EffectiveDate1 : EffectiveDateDetails
StandingSettlementInstructionV01 *-- "1..1" AccountIdentification26 : AccountIdentification
StandingSettlementInstructionV01 *-- "1..1" IMarketIdentificationOrCashPurpose1Choice : MarketIdentification
StandingSettlementInstructionV01 *-- "1..1" ISecuritiesOrCash1Choice : SettlementDetails
StandingSettlementInstructionV01 *-- "0..1" SupplementaryData1 : SupplementaryData

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

MessageReferenceIdentification building block

Reference of this message. Specifies a character string with a maximum length of 35 characters. For comparison, see the ISO20022 official specification This message is declared as Max35Text in the ISO specification. In our implementation, it is represented in source code as IsoMax35Text. Due to global using directives, it is treated as a System.String by the compiler and runtime.

EffectiveDateDetails building block

Date on which the SSI is effective. Date and date parameters. For comparison, see the ISO20022 official specification

classDiagram
   direction tb
%% EffectiveDate1 recursion level 0 with max 1
class EffectiveDate1{
    EffectiveDate IsoISODate
    EffectiveDateParameter ExternalEffectiveDateParameter1Code
}

EffectiveDate1 members

Member name Description Data Type / Multiplicity
EffectiveDate Date on which the SSI is effective. If the SSI is effective on a future date, then the date must be provided. IsoISODate - Required 1..1
EffectiveDateParameter Specifies how the SSI update effective date is to be applied. ExternalEffectiveDateParameter1Code - Optional 0..1

AccountIdentification building block

Unique and unambiguous master identification known to the sender (or its authorised agent) and receiver (or its authorised agent), below which the SSI will be lodged. This may be an account number or reference to a fund. If no account or reference is available then “NONREF” must be specified. Unique identifier of an account, as assigned by the account servicer. For comparison, see the ISO20022 official specification

classDiagram
   direction tb
%% AccountIdentification26 recursion level 0 with max 1
AccountIdentification26 *-- "1..1" SimpleIdentificationInformation4 : Proprietary
%% SimpleIdentificationInformation4 recursion level 1 with max 1
class SimpleIdentificationInformation4{
    Identification IsoMax35Text
}

AccountIdentification26 members

Member name Description Data Type / Multiplicity
Proprietary Unique identifier for an account. It is assigned by the account servicer using a proprietary identification scheme. SimpleIdentificationInformation4 - Required 1..1

MarketIdentification building block

Identifies the market for the standing settlement instruction. Choice of cash purpose or a securities market identifier. For comparison, see the ISO20022 official specification

classDiagram
   direction tb
%% IMarketIdentificationOrCashPurpose1Choice recursion level 0 with max 1

MarketIdentificationOrCashPurpose1Choice members

Member name Description Data Type / Multiplicity

SettlementCurrency building block

Currency for which the SSI is specified. A code allocated to a currency by a Maintenance Agency under an international identification scheme as described in the latest edition of the international standard ISO 4217 “Codes for the representation of currencies and funds”. For comparison, see the ISO20022 official specification This message is declared as ActiveCurrencyCode in the ISO specification. In our implementation, it is represented in source code as ActiveCurrencyCode. Due to global using directives, it is treated as a System.String by the compiler and runtime.

SettlementDetails building block

Settlement chain parties, accounts and other details. Choice of securities or cash parties. For comparison, see the ISO20022 official specification

classDiagram
   direction tb
%% ISecuritiesOrCash1Choice recursion level 0 with max 1

SecuritiesOrCash1Choice members

Member name Description Data Type / Multiplicity

SupplementaryData building block

Additional information that can not be captured in the structured fields and/or any other specific block. Additional information that can not be captured in the structured fields and/or any other specific block. For comparison, see the ISO20022 official specification

classDiagram
   direction tb
%% SupplementaryData1 recursion level 0 with max 1
class SupplementaryData1{
    PlaceAndName IsoMax350Text
}
SupplementaryData1 *-- "1..1" IsoSupplementaryDataEnvelope1 : Envelope
%% IsoSupplementaryDataEnvelope1 recursion level 1 with max 1

SupplementaryData1 members

Member name Description Data Type / Multiplicity
PlaceAndName Unambiguous reference to the location where the supplementary data must be inserted in the message instance. In the case of XML, this is expressed by a valid XPath. IsoMax350Text - Optional 0..1
Envelope Technical element wrapping the supplementary data. IsoSupplementaryDataEnvelope1 - Required 1..1

Extensibility and generalization considerations

To facilitate generalized design patterns in the system, the StandingSettlementInstructionV01 implementation follows a specific implementaiton pattern. First of all, StandingSettlementInstructionV01 impleemnts IOuterRecord indicating it is the outermost logical part of the message definition. Like all message wrappers, StandingSettlementInstructionV01Document implements IOuterDocument. Because StandingSettlementInstructionV01 implements IOuterDocument, it is a suitable template parameter for IOuterDocument, and causes the internal ‘Message’ to be of type StandingSettlementInstructionV01.

classDiagram
    class IOuterRecord
    StandingSettlementInstructionV01 --|> IOuterRecord : Implements
    StandingSettlementInstructionV01Document --|> IOuterDocument~StandingSettlementInstructionV01~ : Implements
    class IOuterDocument~StandingSettlementInstructionV01~ {
        StandingSettlementInstructionV01 Message
     }

Document wrapper for serialization

The only real purpose StandingSettlementInstructionV01Document serves is to cause the document to be serialized into the ‘urn:iso:std:iso:20022:tech:xsd:reda.056.001.01’ namespace. Therefore, it will probably be the usual practice to build the message and construct this wrapper at the last minute using StandingSettlementInstructionV01.ToDocument() method. The returned StandingSettlementInstructionV01Document value will serialize correctly according to ISO 20022 standards.

classDiagram
    StandingSettlementInstructionV01Document *-- StandingSettlementInstructionV01 : 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.056.001.01">
    <StgSttlmInstr>
        <MsgRefId>
            <!-- MessageReferenceIdentification inner content -->
        </MsgRefId>
        <FctvDtDtls>
            <!-- EffectiveDateDetails inner content -->
        </FctvDtDtls>
        <AcctId>
            <!-- AccountIdentification inner content -->
        </AcctId>
        <MktId>
            <!-- MarketIdentification inner content -->
        </MktId>
        <SttlmCcy>
            <!-- SettlementCurrency inner content -->
        </SttlmCcy>
        <SttlmDtls>
            <!-- SettlementDetails inner content -->
        </SttlmDtls>
        <SplmtryData>
            <!-- SupplementaryData inner content -->
        </SplmtryData>
    </StgSttlmInstr>
</Document>

Data from ISO specification

This is the technical data from the specification document.

<messageDefinition
  xmi:id="_UWnqsNQPEeKSSosHwGnjNw"
  name="StandingSettlementInstructionV01"
  definition="Scope&#xD;&#xA;An instructing party sends the StandingSettlementInstruction (SSI) message to the receiver to create or update a standing cash or securities settlement instruction. The message can also be used to notify a counterparty of an SSI.&#xD;&#xA;&#xD;&#xA;Usage&#xD;&#xA;The instructing party (initiator) is:&#xD;&#xA;•&#x9;An account servicer, for example, a global custodian or prime broker&#xD;&#xA;•&#x9;A counterparty in a transaction, for example:&#xD;&#xA;-&#x9;an investment manager (executing broker),&#xD;&#xA;-&#x9;a global custodian (executing broker, prime broker)&#xD;&#xA;•&#x9;A vendor’s application communicating on behalf of an account servicer or counterparty&#xD;&#xA;The receiver is:&#xD;&#xA;•&#x9;An account owner, for example, an investment manager, hedge fund administrator or a party to which SSI operations have been outsourced&#xD;&#xA;•&#x9;A counterparty, for example:&#xD;&#xA;-&#x9;an investment manager (executing broker)&#xD;&#xA;-&#x9;a global custodian (executing broker, prime broker)&#xD;&#xA;•&#x9;A vendor’s application communicating on behalf of the account owner or counterparty."
  registrationStatus="Registered"
  messageSet="_N7G_0dQPEeKSSosHwGnjNw"
  xmlTag="StgSttlmInstr"
  rootElement="Document"
  xmlns:xmi="http://www.omg.org/XMI">
  <doclet
    xmi:id="_XGB3QNQPEeKSSosHwGnjNw"
    type="purpose" />
  <constraint
    xmi:id="__tTgkEh-EeOdL6nMHefDgg"
    name="CashPartiesCurrencyPresenceRule"
    definition="If SettlementDetails/CashPartiesDetails is present then SettlementCurrency must be present."
    registrationStatus="Provisionally Registered"
    expression="&lt;RuleDefinition&gt;&lt;ComplexRule xmlns:xsi=&quot;http://www.w3.org/2001/XMLSchema-instance&quot; xsi:type=&quot;ComplexRule&quot;&gt;&lt;mustBe&gt;&lt;connector&gt;AND&lt;/connector&gt;&lt;BooleanRule xsi:type=&quot;Presence&quot;&gt;&lt;leftOperand&gt;/SettlementCurrency&lt;/leftOperand&gt;&lt;/BooleanRule&gt;&lt;/mustBe&gt;&lt;onCondition&gt;&lt;connector&gt;AND&lt;/connector&gt;&lt;BooleanRule xsi:type=&quot;Presence&quot;&gt;&lt;leftOperand&gt;/SettlementDetails/CashPartiesDetails&lt;/leftOperand&gt;&lt;/BooleanRule&gt;&lt;/onCondition&gt;&lt;/ComplexRule&gt;&lt;/RuleDefinition&gt;" />
  <messageBuildingBlock
    xmi:id="_5JXSsewkEeWkJ9nstgT-Yw"
    name="MessageReferenceIdentification"
    definition="Reference of this message."
    registrationStatus="Provisionally Registered"
    maxOccurs="1"
    minOccurs="1"
    xmlTag="MsgRefId"
    simpleType="_YW1tKdp-Ed-ak6NoX_4Aeg_1913463446" />
  <messageBuildingBlock
    xmi:id="_zNrOsNQgEeKvJeoOII0e7w"
    name="EffectiveDateDetails"
    definition="Date on which the SSI is effective."
    registrationStatus="Provisionally Registered"
    maxOccurs="1"
    minOccurs="0"
    xmlTag="FctvDtDtls"
    complexType="_oxDxcDceEeOA3chqL9a4Rw" />
  <messageBuildingBlock
    xmi:id="_8cPQANQgEeKvJeoOII0e7w"
    name="AccountIdentification"
    definition="Unique and unambiguous master identification known to the sender (or its authorised agent) and receiver (or its authorised agent), below which the SSI will be lodged. This may be an account number or reference to a fund.&#xD;&#xA;If no account or reference is available then “NONREF” must be specified."
    registrationStatus="Provisionally Registered"
    minOccurs="1"
    xmlTag="AcctId"
    complexType="_ku_soSxxEeKgiYs1KJCQUg" />
  <messageBuildingBlock
    xmi:id="_w0hJgNQhEeKvJeoOII0e7w"
    name="MarketIdentification"
    definition="Identifies the market for the standing settlement instruction."
    registrationStatus="Provisionally Registered"
    maxOccurs="1"
    minOccurs="1"
    xmlTag="MktId"
    complexType="_Lc9dQEiNEeOdL6nMHefDgg" />
  <messageBuildingBlock
    xmi:id="_8WCE4NQhEeKvJeoOII0e7w"
    name="SettlementCurrency"
    definition="Currency for which the SSI is specified."
    registrationStatus="Provisionally Registered"
    maxOccurs="1"
    minOccurs="0"
    xmlTag="SttlmCcy"
    simpleType="_bqIp5tp-Ed-ak6NoX_4Aeg_-1326801359" />
  <messageBuildingBlock
    xmi:id="_9kl1UDcfEeOA3chqL9a4Rw"
    name="SettlementDetails"
    definition="Settlement chain parties, accounts and other details."
    registrationStatus="Provisionally Registered"
    maxOccurs="1"
    minOccurs="1"
    xmlTag="SttlmDtls"
    complexType="_xeOrADcgEeOA3chqL9a4Rw" />
  <messageBuildingBlock
    xmi:id="_0dGa4dT_EeKnWItMEK8CZg"
    name="SupplementaryData"
    definition="Additional information that can not be captured in the structured fields and/or any other specific block."
    registrationStatus="Provisionally Registered"
    minOccurs="0"
    xmlTag="SplmtryData"
    complexType="_Qn0zC9p-Ed-ak6NoX_4Aeg_468227563" />
  <messageDefinitionIdentifier
    businessArea="reda"
    messageFunctionality="056"
    flavour="001"
    version="01" />
</messageDefinition>

ISO Building Blocks

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