Corporate actions — ISO 15022 messages

Updated 19 November 2009
Learning channels: Classroom course  On-site training  eTraining

A corporate action is a process that brings material change to the company and affects its stakeholders. Processing of corporate actions is a critical area due to the high number of different events and the complexity of the options. You will have to deal with position changes, settlement and distribution of cash and/or shares. In such a complex environment, the quality of the information you send and receive is crucial to reduce manual processes and errors and minimise risk. Thanks to this course, you will have a unique opportunity to explore in detail the features and benefits of the ISO 15022 standards and get up to date with the latest standards developments.


Audience

Business analysts, IT staff, operations supervisors and managers, Corporate Actions division personnel from institutions such as custodians, securities market infrastructures, investment/asset managers, data providers and broker/dealers.

Prior knowledge

A good knowledge of the securities business and a basic knowledge of SWIFT is presumed.

Duration

The course duration depends on the learning channel you choose:
  • Classroom course: 1 day
  • On-site training: as per your requirements
  • SWIFT eTraining: 3 hours
(The SWIFT eTraining package is a condensed version of the classroom course)

You will learn how to:

  • Interpret and accurately format a notification message in the context of different types of events
  • Find the answer to your questions by interpreting the information contained in the User Handbook
  • Get familiar with the most recent market practices defined by the Securities Market Practice Group
  

Course content

This one-day course focuses on the five messages used for corporate actions. You will study through case studies and examples of scenarios how the corporate action messages are used to:

  • The principles of ISO 15022 standards, namely the message building blocks and the generic field concept
  • The different functions of a message and how to use them
  • Overview of the most commonly used codes and qualifiers
  • How to read the User Handbook
  • Message flow and timeline for voluntary and mandatory events
  • Corporate actions messages:
    • MT 564 Corporate action notification
    • MT 565 Corporate action instruction
    • MT 566 Corporate action confirmation
    • MT 567 Corporate action status and processing advice
    • MT 568 Corporate action narrative
  • Event types include cash dividend, dividend option, exercise of warrants, bond redemption, interest payment and exchange offer
  • The message examples are constantly updated to reflect the most recent market practice guidelines defined by the industry


This course is awarded with
6 CPE credits
Programme level: basic
Delivery method: group-live
  
For more information on SWIFT Training's CPE credited courses and the NASBA sponsor program, click here.