Iso20022

SwitchOrderV02

setr.013.001.02

Scope The SwitchOrder message is sent by an instructing party, eg, an investment manager or its authorised representative, to an executing party, eg, a transfer agent. There may be one or more intermediary parties between the instructing party and the executing party. The intermediary party is, for example, an intermediary or a concentrator. This message is used to instruct the executing party to switch from a specified amount/quantity of specified financial instruments to a specified amount/quantity of different financial instruments. Usage The SwitchOrder message is used when the instructing party, ie, an investor, wants to change its investments within the same fund family, according to the terms of the prospectus.

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
%% SwitchOrderV02 recursion level 0 with max 0
SwitchOrderV02 *-- "0..1" AdditionalReference3 : MasterReference
SwitchOrderV02 *-- "0..1" AdditionalReference3 : PoolReference
SwitchOrderV02 *-- "0..1" AdditionalReference3 : PreviousReference
SwitchOrderV02 *-- "1..1" SwitchOrder2 : SwitchOrderDetails
SwitchOrderV02 *-- "0..10" Intermediary4 : IntermediaryDetails
SwitchOrderV02 *-- "0..1" CopyInformation1 : CopyDetails
SwitchOrderV02 *-- "0..1" Extension1 : Extension

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

MasterReference building block

Reference assigned to a set of orders or trades in order to link them together. 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

Member name Description Data Type / Multiplicity
Reference Business reference of a message assigned by the party issuing the message. This reference must be unique amongst all messages of the same name sent by the same party. IsoMax35Text - Required 1..1
ReferenceIssuer Issuer of the reference. IPartyIdentification2Choice - Optional 0..1
MessageName Name of a message. IsoMax35Text - Optional 0..1

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

Member name Description Data Type / Multiplicity
Reference Business reference of a message assigned by the party issuing the message. This reference must be unique amongst all messages of the same name sent by the same party. IsoMax35Text - Required 1..1
ReferenceIssuer Issuer of the reference. IPartyIdentification2Choice - Optional 0..1
MessageName Name of a message. IsoMax35Text - Optional 0..1

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

Member name Description Data Type / Multiplicity
Reference Business reference of a message assigned by the party issuing the message. This reference must be unique amongst all messages of the same name sent by the same party. IsoMax35Text - Required 1..1
ReferenceIssuer Issuer of the reference. IPartyIdentification2Choice - Optional 0..1
MessageName Name of a message. IsoMax35Text - Optional 0..1

SwitchOrderDetails building block

Information related to the switch order. Transfer from one investment fund/fund class to another investment fund or investment fund class by the investor. A switch is composed of one or several subscription legs, and one or several redemption legs. For comparison, see the ISO20022 official specification

classDiagram
   direction tb
%% SwitchOrder2 recursion level 0 with max 1
class SwitchOrder2{
    OrderDateTime IsoISODateTime
    OrderReference IsoMax35Text
    TotalRedemptionAmount IsoActiveOrHistoricCurrencyAndAmount
    TotalSubscriptionAmount IsoActiveOrHistoricCurrencyAndAmount
    ExpiryDateTime IsoISODateTime
    AdditionalCashIn IsoActiveOrHistoricCurrencyAndAmount
    ResultingCashOut IsoActiveOrHistoricCurrencyAndAmount
}
SwitchOrder2 *-- "1..1" InvestmentAccount13 : InvestmentAccountDetails
SwitchOrder2 *-- "0..1" CancellationRight1 : CancellationRight
SwitchOrder2 *-- "1..0" SwitchRedemptionLegOrder2 : RedemptionLegDetails
SwitchOrder2 *-- "1..0" SwitchSubscriptionLegOrder2 : SubscriptionLegDetails
SwitchOrder2 *-- "0..1" PaymentTransaction20 : CashSettlementDetails
SwitchOrder2 *-- "0..1" ForeignExchangeTerms5 : ForeignExchangeDetails
%% InvestmentAccount13 recursion level 1 with max 1
class InvestmentAccount13{
    AccountName IsoMax35Text
    AccountDesignation IsoMax35Text
}
InvestmentAccount13 *-- "1..1" AccountIdentification1 : AccountIdentification
InvestmentAccount13 *-- "0..0" IPartyIdentification2Choice : OwnerIdentification
InvestmentAccount13 *-- "0..1" IPartyIdentification2Choice : AccountServicer
%% CancellationRight1 recursion level 1 with max 1
class CancellationRight1{
    Structured CancellationRight2Code
    AdditionalInformation IsoMax350Text
}
%% SwitchRedemptionLegOrder2 recursion level 1 with max 1
class SwitchRedemptionLegOrder2{
    LegIdentification IsoMax35Text
    IncomePreference IncomePreference1Code
    Group1Or2Units UKTaxGroupUnitCode
    RequestedSettlementCurrency CurrencyCode
    RequestedNAVCurrency CurrencyCode
    PhysicalDeliveryIndicator IsoYesNoIndicator
}
SwitchRedemptionLegOrder2 *-- "1..1" FinancialInstrument6 : FinancialInstrumentDetails
SwitchRedemptionLegOrder2 *-- "0..1" IFinancialInstrumentQuantity3Choice : FinancialInstrumentQuantityChoice
SwitchRedemptionLegOrder2 *-- "0..0" Charge8 : ChargeDetails
SwitchRedemptionLegOrder2 *-- "0..0" Commission6 : CommissionDetails
SwitchRedemptionLegOrder2 *-- "0..0" Tax6 : TaxDetails
SwitchRedemptionLegOrder2 *-- "0..1" FundSettlementParameters3 : SettlementAndCustodyDetails
SwitchRedemptionLegOrder2 *-- "0..1" DeliveryParameters3 : PhysicalDeliveryDetails
%% SwitchSubscriptionLegOrder2 recursion level 1 with max 1
class SwitchSubscriptionLegOrder2{
    LegIdentification IsoMax35Text
    IncomePreference IncomePreference1Code
    RequestedSettlementCurrency CurrencyCode
    RequestedNAVCurrency CurrencyCode
    PhysicalDeliveryIndicator IsoYesNoIndicator
}
SwitchSubscriptionLegOrder2 *-- "1..1" FinancialInstrument6 : FinancialInstrumentDetails
SwitchSubscriptionLegOrder2 *-- "0..1" IFinancialInstrumentQuantity4Choice : FinancialInstrumentQuantityChoice
SwitchSubscriptionLegOrder2 *-- "0..0" Charge8 : ChargeDetails
SwitchSubscriptionLegOrder2 *-- "0..0" Commission6 : CommissionDetails
SwitchSubscriptionLegOrder2 *-- "0..0" Tax6 : TaxDetails
SwitchSubscriptionLegOrder2 *-- "0..1" FundSettlementParameters4 : SettlementAndCustodyDetails
SwitchSubscriptionLegOrder2 *-- "0..1" NameAndAddress4 : PhysicalDeliveryDetails
%% PaymentTransaction20 recursion level 1 with max 1
class PaymentTransaction20{
    SettlementAmount IsoActiveCurrencyAndAmount
    SettlementDate IsoISODate
}
PaymentTransaction20 *-- "1..1" ICashInOrOut4Choice : CashInOrOut
%% ForeignExchangeTerms5 recursion level 1 with max 1
class ForeignExchangeTerms5{
    UnitCurrency CurrencyCode
    QuotedCurrency CurrencyCode
    ExchangeRate IsoBaseOneRate
    QuotationDate IsoISODateTime
}
ForeignExchangeTerms5 *-- "0..1" IPartyIdentification2Choice : QuotingInstitution

SwitchOrder2 members

Member name Description Data Type / Multiplicity
OrderDateTime Date and time at which the order was placed by the investor. IsoISODateTime - Optional 0..1
OrderReference Unique and unambiguous identifier for an order, as assigned by the instructing party. IsoMax35Text - Required 1..1
InvestmentAccountDetails Account between an investor(s) and a fund manager or a fund. The account can contain holdings in any investment fund or investment fund class managed (or distributed) by the fund manager, within the same fund family. InvestmentAccount13 - Required 1..1
TotalRedemptionAmount Amount of money used to derive the quantity of investment fund units to be redeemed. IsoActiveOrHistoricCurrencyAndAmount - Optional 0..1
TotalSubscriptionAmount Amount of money used to derive the quantity of investment fund units to be subscribed. IsoActiveOrHistoricCurrencyAndAmount - Optional 0..1
ExpiryDateTime Date on which the order expires. IsoISODateTime - Optional 0..1
AdditionalCashIn Additional amount of money paid by the investor in addition to the switch redemption amount. IsoActiveOrHistoricCurrencyAndAmount - Optional 0..1
ResultingCashOut Amount of money that results from a switch-out, that is not reinvested in another investment fund, and is repaid to the investor. IsoActiveOrHistoricCurrencyAndAmount - Optional 0..1
CancellationRight Cancellation right of an investor with respect to an investment fund order. CancellationRight1 - Optional 0..1
RedemptionLegDetails Part of an investment fund switch order that is a redemption. SwitchRedemptionLegOrder2 - Unknown 1..0
SubscriptionLegDetails Part of an investment fund switch order that is a subscription. SwitchSubscriptionLegOrder2 - Unknown 1..0
CashSettlementDetails Payment transaction resulting from the investment fund order execution. PaymentTransaction20 - Optional 0..1
ForeignExchangeDetails Information needed to process a currency exchange or conversion. ForeignExchangeTerms5 - Optional 0..1

IntermediaryDetails building block

The information related to an intermediary. Party that provides services to investors relating to financial products. For comparison, see the ISO20022 official specification

classDiagram
   direction tb
%% Intermediary4 recursion level 0 with max 1
class Intermediary4{
    Role IsoMax35Text
}
Intermediary4 *-- "1..1" IPartyIdentification2Choice : Identification
Intermediary4 *-- "0..1" Account2 : Account
%% IPartyIdentification2Choice recursion level 1 with max 1
%% Account2 recursion level 1 with max 1
Account2 *-- "0..1" AccountIdentification1 : Identification
Account2 *-- "1..1" IPartyIdentification2Choice : AccountServicer

Intermediary4 members

Member name Description Data Type / Multiplicity
Identification Unique and unambiguous identifier of the intermediary. IPartyIdentification2Choice - Required 1..1
Account Business relationship between two entities; one entity is the account owner, the other entity is the account servicer. Account2 - Optional 0..1
Role Function performed by the intermediary. IsoMax35Text - Optional 0..1

CopyDetails building block

Information provided when the message is a copy of a previous message. Information provided when the message is a copy of a previous message. For comparison, see the ISO20022 official specification

classDiagram
   direction tb
%% CopyInformation1 recursion level 0 with max 1
class CopyInformation1{
    CopyIndicator IsoYesNoIndicator
}
CopyInformation1 *-- "1..1" BICIdentification1 : OriginalReceiver
%% BICIdentification1 recursion level 1 with max 1
class BICIdentification1{
    BIC IsoBICIdentifier
}

CopyInformation1 members

Member name Description Data Type / Multiplicity
CopyIndicator Indicates whether the message is a copy. IsoYesNoIndicator - Required 1..1
OriginalReceiver Original receiver of the message, if this message is a copy. BICIdentification1 - Required 1..1

Extension building block

Additional information that cannot be captured in the structured elements 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
%% Extension1 recursion level 0 with max 1
class Extension1{
    PlaceAndName IsoMax350Text
    Text IsoMax350Text
}

Extension1 members

Member name Description Data Type / Multiplicity
PlaceAndName Name qualifying the information provided in the Text field, and place where this information should be inserted. IsoMax350Text - Required 1..1
Text Text of the extension. IsoMax350Text - Required 1..1

Extensibility and generalization considerations

To facilitate generalized design patterns in the system, the SwitchOrderV02 implementation follows a specific implementaiton pattern. First of all, SwitchOrderV02 impleemnts IOuterRecord indicating it is the outermost logical part of the message definition. Like all message wrappers, SwitchOrderV02Document implements IOuterDocument. Because SwitchOrderV02 implements IOuterDocument, it is a suitable template parameter for IOuterDocument, and causes the internal ‘Message’ to be of type SwitchOrderV02.

classDiagram
    class IOuterRecord
    SwitchOrderV02 --|> IOuterRecord : Implements
    SwitchOrderV02Document --|> IOuterDocument~SwitchOrderV02~ : Implements
    class IOuterDocument~SwitchOrderV02~ {
        SwitchOrderV02 Message
     }

Document wrapper for serialization

The only real purpose SwitchOrderV02Document serves is to cause the document to be serialized into the ‘urn:iso:std:iso:20022:tech:xsd:setr.013.001.02’ namespace. Therefore, it will probably be the usual practice to build the message and construct this wrapper at the last minute using SwitchOrderV02.ToDocument() method. The returned SwitchOrderV02Document value will serialize correctly according to ISO 20022 standards.

classDiagram
    SwitchOrderV02Document *-- SwitchOrderV02 : 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:setr.013.001.02">
    <setr.013.001.02>
        <MstrRef>
            <!-- MasterReference inner content -->
        </MstrRef>
        <PoolRef>
            <!-- PoolReference inner content -->
        </PoolRef>
        <PrvsRef>
            <!-- PreviousReference inner content -->
        </PrvsRef>
        <SwtchOrdrDtls>
            <!-- SwitchOrderDetails inner content -->
        </SwtchOrdrDtls>
        <IntrmyDtls>
            <!-- IntermediaryDetails inner content -->
        </IntrmyDtls>
        <CpyDtls>
            <!-- CopyDetails inner content -->
        </CpyDtls>
        <Xtnsn>
            <!-- Extension inner content -->
        </Xtnsn>
    </setr.013.001.02>
</Document>

Data from ISO specification

This is the technical data from the specification document.

<messageDefinition
  xmi:id="_8JIAINE7Ed-BzquC8wXy7w_-1831529909"
  nextVersions="_8jfn8tE7Ed-BzquC8wXy7w_-1983893425"
  name="SwitchOrderV02"
  definition="Scope&#xD;&#xA;The SwitchOrder message is sent by an instructing party, eg, an investment manager or its authorised representative, to an executing party, eg, a transfer agent. There may be one or more intermediary parties between the instructing party and the executing party. The intermediary party is, for example, an intermediary or a concentrator.&#xD;&#xA;This message is used to instruct the executing party to switch from a specified amount/quantity of specified financial instruments to a specified amount/quantity of different financial instruments.&#xD;&#xA;Usage&#xD;&#xA;The SwitchOrder message is used when the instructing party, ie, an investor, wants to change its investments within the same fund family, according to the terms of the prospectus."
  registrationStatus="Registered"
  messageSet="_urpIICeJEeOCeO5e7islRQ"
  xmlName="setr.013.001.02"
  xmlTag="setr.013.001.02"
  rootElement="Document"
  xmlns:xmi="http://www.omg.org/XMI">
  <constraint
    xmi:id="_8JRKEtE7Ed-BzquC8wXy7w_-1717013740"
    name="AccountIdentificationRule"
    definition="If this message is linked to an account opening request and the account identification is not yet known then the value of the AccountIdentification element in SwitchOrderDetails/InvestmentAccountDetails must be UNKNOWN."
    registrationStatus="Provisionally Registered" />
  <messageBuildingBlock
    xmi:id="_8JIAIdE7Ed-BzquC8wXy7w_-63767357"
    name="MasterReference"
    definition="Reference assigned to a set of orders or trades in order to link them together."
    registrationStatus="Provisionally Registered"
    maxOccurs="1"
    minOccurs="0"
    xmlTag="MstrRef"
    complexType="_Q6vvAdp-Ed-ak6NoX_4Aeg_2101402955" />
  <messageBuildingBlock
    xmi:id="_8JIAItE7Ed-BzquC8wXy7w_-65614926"
    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="_8JIAI9E7Ed-BzquC8wXy7w_-61918547"
    name="PreviousReference"
    definition="Reference to a linked message that was previously sent."
    registrationStatus="Provisionally Registered"
    minOccurs="0"
    xmlTag="PrvsRef"
    complexType="_Q6vvAdp-Ed-ak6NoX_4Aeg_2101402955" />
  <messageBuildingBlock
    xmi:id="_8JIAJNE7Ed-BzquC8wXy7w_-1318052005"
    name="SwitchOrderDetails"
    definition="Information related to the switch order."
    registrationStatus="Provisionally Registered"
    maxOccurs="1"
    minOccurs="1"
    xmlTag="SwtchOrdrDtls"
    complexType="_VVuFi9p-Ed-ak6NoX_4Aeg_-1360536112" />
  <messageBuildingBlock
    xmi:id="_8JIAJdE7Ed-BzquC8wXy7w_383217301"
    name="IntermediaryDetails"
    definition="The information related to an intermediary."
    registrationStatus="Provisionally Registered"
    maxOccurs="10"
    minOccurs="0"
    xmlTag="IntrmyDtls"
    complexType="_U_XbBdp-Ed-ak6NoX_4Aeg_-129041693" />
  <messageBuildingBlock
    xmi:id="_8JRKENE7Ed-BzquC8wXy7w_-578035973"
    name="CopyDetails"
    definition="Information provided when the message is a copy of a previous message."
    registrationStatus="Provisionally Registered"
    maxOccurs="1"
    minOccurs="0"
    xmlTag="CpyDtls"
    complexType="_RE37Ydp-Ed-ak6NoX_4Aeg_-877911728" />
  <messageBuildingBlock
    xmi:id="_8JRKEdE7Ed-BzquC8wXy7w_72236090"
    name="Extension"
    definition="Additional information that cannot be captured in the structured elements and/or any other specific block."
    registrationStatus="Provisionally Registered"
    minOccurs="0"
    xmlTag="Xtnsn"
    complexType="_Q6vvCNp-Ed-ak6NoX_4Aeg_1503007069" />
  <messageDefinitionIdentifier
    businessArea="setr"
    messageFunctionality="013"
    flavour="001"
    version="02" />
</messageDefinition>

ISO Building Blocks

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