Iso20022

RedemptionOrderV03

setr.004.001.03

Scope An instructing party, for example, an investment manager or its authorised representative, sends the RedemptionOrder message to the executing party, for example, a transfer agent, to instruct the redemption of one or more financial instruments for one investment fund account. Usage The RedemptionOrder message is used to instruct single redemption orders, that is, a message containing one order for one financial instrument and related to one investment account. The RedemptionOrder message may also be used for multiple orders, that is, a message containing several orders related to the same investment account for different financial instruments. For a single redemption order, the RedemptionOrder message, not the RedemptionBulkOrder message, must be used. If there are redemption orders for the same financial instrument but for different accounts, then the RedemptionBulkOrder message must be used.

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
%% RedemptionOrderV03 recursion level 0 with max 0
RedemptionOrderV03 *-- "1..1" MessageIdentification1 : MessageIdentification
RedemptionOrderV03 *-- "0..1" AdditionalReference3 : PoolReference
RedemptionOrderV03 *-- "0..1" AdditionalReference3 : PreviousReference
RedemptionOrderV03 *-- "1..1" RedemptionMultipleOrder4 : MultipleOrderDetails
RedemptionOrderV03 *-- "0..10" Intermediary8 : RelatedPartyDetails
RedemptionOrderV03 *-- "0..1" CopyInformation2 : CopyDetails
RedemptionOrderV03 *-- "0..1" Extension1 : Extension

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

Member name Description Data Type / Multiplicity
Identification Identification of the message. IsoMax35Text - Required 1..1
CreationDateTime Date of creation of the message. IsoISODateTime - Required 1..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

MultipleOrderDetails building block

General information related to the order. Instruction from an investor to sell investment fund units back to the fund. For comparison, see the ISO20022 official specification

classDiagram
   direction tb
%% RedemptionMultipleOrder4 recursion level 0 with max 1
class RedemptionMultipleOrder4{
    MasterReference IsoMax35Text
    OrderDateTime IsoISODateTime
    RequestedFutureTradeDate IsoISODate
    CancellationRight CancellationRight1Code
    ExtendedCancellationRight IsoExtended350Code
    TotalSettlementAmount IsoActiveCurrencyAndAmount
    CashSettlementDate IsoISODate
}
RedemptionMultipleOrder4 *-- "0..1" IPlaceOfTradeIdentification1Choice : PlaceOfTrade
RedemptionMultipleOrder4 *-- "0..1" IDateAndDateTimeChoice : ExpiryDateTime
RedemptionMultipleOrder4 *-- "1..1" InvestmentAccount21 : InvestmentAccountDetails
RedemptionMultipleOrder4 *-- "0..1" IndividualPerson12 : BeneficiaryDetails
RedemptionMultipleOrder4 *-- "1..0" RedemptionOrder8 : IndividualOrderDetails
RedemptionMultipleOrder4 *-- "0..1" PaymentTransaction21 : BulkCashSettlementDetails
%% IPlaceOfTradeIdentification1Choice recursion level 1 with max 1
%% IDateAndDateTimeChoice recursion level 1 with max 1
%% InvestmentAccount21 recursion level 1 with max 1
class InvestmentAccount21{
    AccountName IsoMax35Text
    AccountDesignation IsoMax35Text
    OrderOriginatorEligibility OrderOriginatorEligibility1Code
}
InvestmentAccount21 *-- "1..1" AccountIdentification1 : AccountIdentification
InvestmentAccount21 *-- "0..0" IPartyIdentification2Choice : OwnerIdentification
InvestmentAccount21 *-- "0..1" IPartyIdentification2Choice : AccountServicer
InvestmentAccount21 *-- "0..1" SubAccount1 : SubAccountDetails
%% IndividualPerson12 recursion level 1 with max 1
class IndividualPerson12{
    Name IsoMax350Text
    BirthDate IsoISODate
}
IndividualPerson12 *-- "0..1" CountryAndResidentialStatusType1 : CountryAndResidentialStatus
IndividualPerson12 *-- "0..0" GenericIdentification11 : OtherIdentification
%% RedemptionOrder8 recursion level 1 with max 1
class RedemptionOrder8{
    OrderReference IsoMax35Text
    ClientReference IsoMax35Text
    GrossAmount IsoActiveOrHistoricCurrencyAndAmount
    NetAmount IsoActiveOrHistoricCurrencyAndAmount
    HoldingsRedemptionRate IsoPercentageRate
    Rounding RoundingDirection2Code
    SettlementAmount IsoActiveCurrencyAndAmount
    CashSettlementDate IsoISODate
    SettlementMethod DeliveryReceiptType2Code
    IncomePreference IncomePreference1Code
    Group1Or2Units UKTaxGroupUnitCode
    PhysicalDeliveryIndicator IsoYesNoIndicator
    RequestedSettlementCurrency ActiveCurrencyCode
    RequestedNAVCurrency ActiveOrHistoricCurrencyCode
    NonStandardSettlementInformation IsoMax350Text
    FinancialAdvice FinancialAdvice1Code
    NegotiatedTrade NegotiatedTrade1Code
}
RedemptionOrder8 *-- "0..10" FundOrderType2 : OrderType
RedemptionOrder8 *-- "1..1" FinancialInstrument10 : FinancialInstrumentDetails
RedemptionOrder8 *-- "0..1" SubAccount1 : SubAccountForHolding
RedemptionOrder8 *-- "1..1" FinancialInstrumentQuantity1 : UnitsNumber
RedemptionOrder8 *-- "0..1" ForeignExchangeTerms6 : ForeignExchangeDetails
RedemptionOrder8 *-- "0..0" Charge17 : ChargeDetails
RedemptionOrder8 *-- "0..0" Commission10 : CommissionDetails
RedemptionOrder8 *-- "0..0" Tax16 : TaxDetails
RedemptionOrder8 *-- "0..1" FundSettlementParameters3 : SettlementAndCustodyDetails
RedemptionOrder8 *-- "0..1" DeliveryParameters3 : PhysicalDeliveryDetails
RedemptionOrder8 *-- "0..1" PaymentTransaction21 : CashSettlementDetails
RedemptionOrder8 *-- "0..4" InvestmentFundsOrderBreakdown1 : StaffClientBreakdown
RedemptionOrder8 *-- "0..10" Intermediary8 : RelatedPartyDetails
RedemptionOrder8 *-- "0..1" Equalisation1 : Equalisation
%% PaymentTransaction21 recursion level 1 with max 1
PaymentTransaction21 *-- "0..1" IPaymentInstrument11Choice : PaymentInstrument

RedemptionMultipleOrder4 members

Member name Description Data Type / Multiplicity
MasterReference Unique and unambiguous identifier for a group of individual orders, as assigned by the instructing party. This identifier links the individual orders together. IsoMax35Text - Optional 0..1
PlaceOfTrade Market in which the advised trade transaction was executed. IPlaceOfTradeIdentification1Choice - Optional 0..1
OrderDateTime Date and time at which the order was placed by the investor. IsoISODateTime - Optional 0..1
ExpiryDateTime Date on which the order expires. IDateAndDateTimeChoice - Optional 0..1
RequestedFutureTradeDate Future date at which the investor requests the order to be executed. The specification of a requested future trade date is not allowed in some markets. The date must be a date in the future.
CancellationRight Cancellation right of an investor with respect to an investment fund order. CancellationRight1Code - Optional 0..1
ExtendedCancellationRight Cancellation right of an investor with respect to an investment fund order. IsoExtended350Code - Optional 0..1
InvestmentAccountDetails Account impacted by an investment fund order. InvestmentAccount21 - Required 1..1
BeneficiaryDetails Additional information about the investor. IndividualPerson12 - Optional 0..1
IndividualOrderDetails Instruction from an investor to sell investment fund units back to the fund. RedemptionOrder8 - Unknown 1..0
BulkCashSettlementDetails Payment processes required to transfer cash from the debtor to the creditor. PaymentTransaction21 - Optional 0..1
TotalSettlementAmount Total amount of money paid /to be paid or received in exchange for the financial instrument in the multiple order. IsoActiveCurrencyAndAmount - Optional 0..1
CashSettlementDate Date on which cash is available. IsoISODate - Optional 0..1

RelatedPartyDetails building block

Information about parties related to the transaction. Party that provides services to investors relating to financial products. For comparison, see the ISO20022 official specification

classDiagram
   direction tb
%% Intermediary8 recursion level 0 with max 1
class Intermediary8{
    OrderOriginatorEligibility OrderOriginatorEligibility1Code
    Role InvestmentFundRole2Code
    ExtendedRole IsoExtended350Code
}
Intermediary8 *-- "1..1" IPartyIdentification2Choice : Identification
Intermediary8 *-- "0..1" Account7 : Account
%% IPartyIdentification2Choice recursion level 1 with max 1
%% Account7 recursion level 1 with max 1
Account7 *-- "1..1" AccountIdentification1 : Identification
Account7 *-- "0..1" IPartyIdentification2Choice : AccountServicer

Intermediary8 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. Account7 - Optional 0..1
OrderOriginatorEligibility Counterparties eligibility as defined by article 24 of the EU MiFID Directive applicable to transactions executed by investment firms for eligible counterparties. OrderOriginatorEligibility1Code - Optional 0..1
Role Function performed by the intermediary. InvestmentFundRole2Code - Optional 0..1
ExtendedRole Function performed by the intermediary. IsoExtended350Code - 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
%% CopyInformation2 recursion level 0 with max 1
class CopyInformation2{
    CopyIndicator IsoYesNoIndicator
}
CopyInformation2 *-- "0..1" BICIdentification1 : OriginalReceiver
%% BICIdentification1 recursion level 1 with max 1
class BICIdentification1{
    BIC IsoBICIdentifier
}

CopyInformation2 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 - Optional 0..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 RedemptionOrderV03 implementation follows a specific implementaiton pattern. First of all, RedemptionOrderV03 impleemnts IOuterRecord indicating it is the outermost logical part of the message definition. Like all message wrappers, RedemptionOrderV03Document implements IOuterDocument. Because RedemptionOrderV03 implements IOuterDocument, it is a suitable template parameter for IOuterDocument, and causes the internal ‘Message’ to be of type RedemptionOrderV03.

classDiagram
    class IOuterRecord
    RedemptionOrderV03 --|> IOuterRecord : Implements
    RedemptionOrderV03Document --|> IOuterDocument~RedemptionOrderV03~ : Implements
    class IOuterDocument~RedemptionOrderV03~ {
        RedemptionOrderV03 Message
     }

Document wrapper for serialization

The only real purpose RedemptionOrderV03Document serves is to cause the document to be serialized into the ‘urn:iso:std:iso:20022:tech:xsd:setr.004.001.03’ namespace. Therefore, it will probably be the usual practice to build the message and construct this wrapper at the last minute using RedemptionOrderV03.ToDocument() method. The returned RedemptionOrderV03Document value will serialize correctly according to ISO 20022 standards.

classDiagram
    RedemptionOrderV03Document *-- RedemptionOrderV03 : 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.004.001.03">
    <RedOrdrV03>
        <MsgId>
            <!-- MessageIdentification inner content -->
        </MsgId>
        <PoolRef>
            <!-- PoolReference inner content -->
        </PoolRef>
        <PrvsRef>
            <!-- PreviousReference inner content -->
        </PrvsRef>
        <MltplOrdrDtls>
            <!-- MultipleOrderDetails inner content -->
        </MltplOrdrDtls>
        <RltdPtyDtls>
            <!-- RelatedPartyDetails inner content -->
        </RltdPtyDtls>
        <CpyDtls>
            <!-- CopyDetails inner content -->
        </CpyDtls>
        <Xtnsn>
            <!-- Extension inner content -->
        </Xtnsn>
    </RedOrdrV03>
</Document>

Data from ISO specification

This is the technical data from the specification document.

<messageDefinition
  xmi:id="_vhoUKNE7Ed-BzquC8wXy7w_2081067888"
  nextVersions="_Aab6GzbLEead9bDRE_1DAQ"
  previousVersion="_rxRn99E7Ed-BzquC8wXy7w_-865600091"
  name="RedemptionOrderV03"
  definition="Scope&#xD;&#xA;An instructing party, for example, an investment manager or its authorised representative, sends the RedemptionOrder message to the executing party, for example, a transfer agent, to instruct the redemption of one or more financial instruments for one investment fund account.&#xD;&#xA;Usage&#xD;&#xA;The RedemptionOrder message is used to instruct single redemption orders, that is, a message containing one order for one financial instrument and related to one investment account. The RedemptionOrder message may also be used for multiple orders, that is, a message containing several orders related to the same investment account for different financial instruments.&#xD;&#xA;For a single redemption order, the RedemptionOrder message, not the RedemptionBulkOrder message, must be used.&#xD;&#xA;If there are redemption orders for the same financial instrument but for different accounts, then the RedemptionBulkOrder message must be used."
  registrationStatus="Registered"
  messageSet="_wFQdsE2rEeG_I4xRYCA_7g"
  xmlTag="RedOrdrV03"
  rootElement="Document"
  xmlns:xmi="http://www.omg.org/XMI">
  <constraint
    xmi:id="_vhxeFdE7Ed-BzquC8wXy7w_-2126165300"
    nextVersions="_Aab6HTbLEead9bDRE_1DAQ"
    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 MultipleOrderDetails/InvestmentAccountDetails must be UNKNOWN."
    registrationStatus="Provisionally Registered" />
  <constraint
    xmi:id="_vhxeGNE7Ed-BzquC8wXy7w_-769518895"
    name="RelatedPartiesDetailsRule"
    definition="Either RelatedPartiesDetails or MultipleOrderDetails/IndividualOrderDetails/RelatedPartiesDetails may be present, but not both."
    registrationStatus="Provisionally Registered" />
  <messageBuildingBlock
    xmi:id="_vhoUKdE7Ed-BzquC8wXy7w_-1426904851"
    nextVersions="_Aab6IzbLEead9bDRE_1DAQ"
    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="_vhoUKtE7Ed-BzquC8wXy7w_-1796466923"
    nextVersions="_Aab6JTbLEead9bDRE_1DAQ"
    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="_vhxeENE7Ed-BzquC8wXy7w_-1793698233"
    nextVersions="_Aab6JzbLEead9bDRE_1DAQ"
    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="_vhxeEdE7Ed-BzquC8wXy7w_576058002"
    nextVersions="_Aab6KTbLEead9bDRE_1DAQ"
    name="MultipleOrderDetails"
    definition="General information related to the order."
    registrationStatus="Provisionally Registered"
    maxOccurs="1"
    minOccurs="1"
    xmlTag="MltplOrdrDtls"
    complexType="_SEXCcNp-Ed-ak6NoX_4Aeg_514480501" />
  <messageBuildingBlock
    xmi:id="_vhxeEtE7Ed-BzquC8wXy7w_-1567433633"
    name="RelatedPartyDetails"
    definition="Information about parties related to the transaction."
    registrationStatus="Provisionally Registered"
    maxOccurs="10"
    minOccurs="0"
    xmlTag="RltdPtyDtls"
    complexType="_QOCaCtp-Ed-ak6NoX_4Aeg_-1658310950" />
  <messageBuildingBlock
    xmi:id="_vhxeE9E7Ed-BzquC8wXy7w_-1565586255"
    nextVersions="_Aab6LTbLEead9bDRE_1DAQ"
    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="_Q7Vk4tp-Ed-ak6NoX_4Aeg_-1918092012" />
  <messageBuildingBlock
    xmi:id="_vhxeFNE7Ed-BzquC8wXy7w_-1557274391"
    nextVersions="_Aab6LzbLEead9bDRE_1DAQ"
    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="004"
    flavour="001"
    version="03" />
</messageDefinition>

ISO Building Blocks

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