setr.014.001.03
Scope An instructing party, for example, an investment manager or its authorised representative, sends the SwitchOrderCancellationRequest message to the executing party, for example, a transfer agent, to request the cancellation of a previously sent SwitchOrder instruction. Usage The SwitchOrderCancellationRequest is used to cancel the entire previously sent SwitchOrder instruction and all the individual legs that it contains. There is no amendment, but a cancellation and re-instruct policy. There are two ways to specify the switch cancellation. Either:
- the order reference of the original switch order is quoted, or,
- all the details of the original switch order (this includes the OrderReference) are quoted, but this is not recommended. The message identification of the SwitchOrder message may also be quoted in PreviousReference. It is also possible to request the cancellation of a SwitchOrder message by quoting its message identification in PreviousReference, but this is not recommended. The deadline and acceptance of a cancellation request is subject to a service level agreement (SLA). This cancellation message is a cancellation request. There is no automatic acceptance of the cancellation request. The rejection or acceptance of a SwitchOrderCancellationRequest is made using an OrderCancellationStatusReport message.
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 %% SwitchOrderCancellationRequestV03 recursion level 0 with max 0 SwitchOrderCancellationRequestV03 *-- "1..1" MessageIdentification1 : MessageIdentification SwitchOrderCancellationRequestV03 *-- "0..1" AdditionalReference3 : PoolReference SwitchOrderCancellationRequestV03 *-- "0..1" AdditionalReference3 : PreviousReference SwitchOrderCancellationRequestV03 *-- "0..1" InvestmentFundOrder1 : CancellationByReference SwitchOrderCancellationRequestV03 *-- "0..1" SwitchOrderInstruction2 : CancellationByOrderDetails SwitchOrderCancellationRequestV03 *-- "0..1" CopyInformation2 : CopyDetails
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 |
CancellationByReference building block
References of the switch orders to be cancelled. Reference of an order, order cancellation and master reference. For comparison, see the ISO20022 official specification
classDiagram direction tb %% InvestmentFundOrder1 recursion level 0 with max 1 class InvestmentFundOrder1{ MasterReference IsoMax35Text } InvestmentFundOrder1 *-- "1..0" InvestmentFundOrder5 : OrderReferences %% InvestmentFundOrder5 recursion level 1 with max 1 class InvestmentFundOrder5{ OrderReference IsoMax35Text ClientReference IsoMax35Text CancellationReference IsoMax35Text }
InvestmentFundOrder1 members
Member name | Description | Data Type / Multiplicity |
---|---|---|
MasterReference | Reference assigned to a set of orders or trades in order to link them together. | IsoMax35Text - Optional 0..1 |
OrderReferences | Reference of an order and order cancellation. | InvestmentFundOrder5 - Unknown 1..0 |
CancellationByOrderDetails building block
Common information related to all the switch orders to be cancelled. Information about a switch order. For comparison, see the ISO20022 official specification
classDiagram direction tb %% SwitchOrderInstruction2 recursion level 0 with max 1 SwitchOrderInstruction2 *-- "1..0" SwitchOrder3 : SwitchOrderDetails SwitchOrderInstruction2 *-- "0..0" Extension1 : Extension %% SwitchOrder3 recursion level 1 with max 1 class SwitchOrder3{ MasterReference IsoMax35Text OrderDateTime IsoISODateTime OrderReference IsoMax35Text ClientReference IsoMax35Text CancellationReference IsoMax35Text TotalRedemptionAmount IsoActiveOrHistoricCurrencyAndAmount TotalSubscriptionAmount IsoActiveOrHistoricCurrencyAndAmount RequestedFutureTradeDate IsoISODate SettlementAmount IsoActiveCurrencyAndAmount CashSettlementDate IsoISODate SettlementMethod DeliveryReceiptType2Code AdditionalCashIn IsoActiveOrHistoricCurrencyAndAmount ResultingCashOut IsoActiveOrHistoricCurrencyAndAmount CancellationRight CancellationRight1Code ExtendedCancellationRight IsoExtended350Code FinancialAdvice FinancialAdvice1Code NegotiatedTrade NegotiatedTrade1Code } SwitchOrder3 *-- "0..1" InvestmentAccount21 : InvestmentAccountDetails SwitchOrder3 *-- "0..1" IDateAndDateTimeChoice : ExpiryDateTime SwitchOrder3 *-- "0..10" Intermediary8 : RelatedPartyDetails SwitchOrder3 *-- "1..0" SwitchRedemptionLegOrder3 : RedemptionLegDetails SwitchOrder3 *-- "1..0" SwitchSubscriptionLegOrder3 : SubscriptionLegDetails SwitchOrder3 *-- "0..1" PaymentTransaction25 : CashSettlementDetails SwitchOrder3 *-- "0..1" ForeignExchangeTerms6 : ForeignExchangeDetails %% Extension1 recursion level 1 with max 1 class Extension1{ PlaceAndName IsoMax350Text Text IsoMax350Text }
SwitchOrderInstruction2 members
Member name | Description | Data Type / Multiplicity |
---|---|---|
SwitchOrderDetails | Information related to the switch order. | SwitchOrder3 - Unknown 1..0 |
Extension | Additional information that cannot be captured in the structured elements and/or any other specific block. | Extension1 - Unknown 0..0 |
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 |
Extensibility and generalization considerations
To facilitate generalized design patterns in the system, the SwitchOrderCancellationRequestV03 implementation follows a specific implementaiton pattern. First of all, SwitchOrderCancellationRequestV03 impleemnts IOuterRecord indicating it is the outermost logical part of the message definition. Like all message wrappers, SwitchOrderCancellationRequestV03Document implements IOuterDocument. Because SwitchOrderCancellationRequestV03 implements IOuterDocument, it is a suitable template parameter for IOuterDocument, and causes the internal ‘Message’ to be of type SwitchOrderCancellationRequestV03.
classDiagram class IOuterRecord SwitchOrderCancellationRequestV03 --|> IOuterRecord : Implements SwitchOrderCancellationRequestV03Document --|> IOuterDocument~SwitchOrderCancellationRequestV03~ : Implements class IOuterDocument~SwitchOrderCancellationRequestV03~ { SwitchOrderCancellationRequestV03 Message }
Document wrapper for serialization
The only real purpose SwitchOrderCancellationRequestV03Document serves is to cause the document to be serialized into the ‘urn:iso:std:iso:20022:tech:xsd:setr.014.001.03’ namespace. Therefore, it will probably be the usual practice to build the message and construct this wrapper at the last minute using SwitchOrderCancellationRequestV03.ToDocument() method. The returned SwitchOrderCancellationRequestV03Document value will serialize correctly according to ISO 20022 standards.
classDiagram SwitchOrderCancellationRequestV03Document *-- SwitchOrderCancellationRequestV03 : 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.014.001.03">
<SwtchOrdrCxlReqV03>
<MsgId>
<!-- MessageIdentification inner content -->
</MsgId>
<PoolRef>
<!-- PoolReference inner content -->
</PoolRef>
<PrvsRef>
<!-- PreviousReference inner content -->
</PrvsRef>
<CxlByRef>
<!-- CancellationByReference inner content -->
</CxlByRef>
<CxlByOrdrDtls>
<!-- CancellationByOrderDetails inner content -->
</CxlByOrdrDtls>
<CpyDtls>
<!-- CopyDetails inner content -->
</CpyDtls>
</SwtchOrdrCxlReqV03>
</Document>
Data from ISO specification
This is the technical data from the specification document.
<messageDefinition
xmi:id="_6CayWNE7Ed-BzquC8wXy7w_1787145028"
nextVersions="_Aab6-TbLEead9bDRE_1DAQ"
previousVersion="_5nvohtE7Ed-BzquC8wXy7w_943117646"
name="SwitchOrderCancellationRequestV03"
definition="Scope
An instructing party, for example, an investment manager or its authorised representative, sends the SwitchOrderCancellationRequest message to the executing party, for example, a transfer agent, to request the cancellation of a previously sent SwitchOrder instruction.
Usage
The SwitchOrderCancellationRequest is used to cancel the entire previously sent SwitchOrder instruction and all the individual legs that it contains. There is no amendment, but a cancellation and re-instruct policy.
There are two ways to specify the switch cancellation. Either:
- the order reference of the original switch order is quoted, or,
- all the details of the original switch order (this includes the OrderReference) are quoted, but this is not recommended.
The message identification of the SwitchOrder message may also be quoted in PreviousReference.
It is also possible to request the cancellation of a SwitchOrder message by quoting its message identification in PreviousReference, but this is not recommended.
The deadline and acceptance of a cancellation request is subject to a service level agreement (SLA). This cancellation message is a cancellation request. There is no automatic acceptance of the cancellation request.
The rejection or acceptance of a SwitchOrderCancellationRequest is made using an OrderCancellationStatusReport message."
registrationStatus="Registered"
messageSet="_wFQdsE2rEeG_I4xRYCA_7g"
xmlTag="SwtchOrdrCxlReqV03"
rootElement="Document"
xmlns:xmi="http://www.omg.org/XMI">
<constraint
xmi:id="_6Cj8RNE7Ed-BzquC8wXy7w_1787145268"
nextVersions="_Aab6-zbLEead9bDRE_1DAQ"
name="SwitchRule"
definition="The cancellation of a switch order must be a full cancellation. Partial cancellations are not allowed e.g. cancellation of a given leg."
registrationStatus="Provisionally Registered" />
<constraint
xmi:id="_6Cj8R9E7Ed-BzquC8wXy7w_1787145520"
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 CancellationByOrderDetails/SwitchOrderDetails/InvestmentAccountDetails must be UNKNOWN."
registrationStatus="Provisionally Registered" />
<xors
xmi:id="_6Cj8StE7Ed-BzquC8wXy7w_-1067967359"
name="CancellationByReferenceOrByOrderDetailsRule"
definition="Either CancellationByOrderDetails or CancellationByReference may be present, but not both."
registrationStatus="Provisionally Registered"
impactedMessageBuildingBlocks="_6Cj8QdE7Ed-BzquC8wXy7w_1302905087 _6Cj8QtE7Ed-BzquC8wXy7w_1787145055" />
<messageBuildingBlock
xmi:id="_6CayWdE7Ed-BzquC8wXy7w_264063025"
nextVersions="_Aab7ATbLEead9bDRE_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="_6CayWtE7Ed-BzquC8wXy7w_1787145131"
nextVersions="_Aab7AzbLEead9bDRE_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="_6Cj8QNE7Ed-BzquC8wXy7w_1787145191"
nextVersions="_Aab7BTbLEead9bDRE_1DAQ"
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="_6Cj8QdE7Ed-BzquC8wXy7w_1302905087"
name="CancellationByReference"
definition="References of the switch orders to be cancelled."
registrationStatus="Provisionally Registered"
maxOccurs="1"
minOccurs="0"
xmlTag="CxlByRef"
complexType="_TSlwKNp-Ed-ak6NoX_4Aeg_-337332402" />
<messageBuildingBlock
xmi:id="_6Cj8QtE7Ed-BzquC8wXy7w_1787145055"
name="CancellationByOrderDetails"
definition="Common information related to all the switch orders to be cancelled."
registrationStatus="Provisionally Registered"
maxOccurs="1"
minOccurs="0"
xmlTag="CxlByOrdrDtls"
complexType="_RNhhFtp-Ed-ak6NoX_4Aeg_-925024145" />
<messageBuildingBlock
xmi:id="_6Cj8Q9E7Ed-BzquC8wXy7w_-925024126"
nextVersions="_Aab7CzbLEead9bDRE_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" />
<messageDefinitionIdentifier
businessArea="setr"
messageFunctionality="014"
flavour="001"
version="03" />
</messageDefinition>
ISO Building Blocks
The following items are used as building blocks to construct this message.