ISO 20022 rollout for General Meetings – New implementation timeline – Update III
Note: This Announcement, originally published on 5 April 2023 and updated on 12 June 2023 and 26 January 2024, has been further updated to include information on impacts and testing. Changes are highlighted.
Clearstream Banking1 reminds clients that the implementation of ISO 20022 messaging for general meetings (GMs) is planned for
18 November 2024
Impact on clients
All clients using the Clearstream General Meeting Service will have to be ready to receive GM messages and instruct in ISO 20022 as of November 2024. The existing ISO 15022 messages for GMs will be decommissioned. With the exception of the notifications, for which a MT564 coexistence will continue to exist, the existing ISO 15022 messages for GMs will be decommissioned. Please note that for instructions, ISO 15022 messages will not be supported. All client instructions in ISO 15022 will be rejected (including MT599). Alternatively, instructions can be submitted via Xact Web Portal.
ISO 20022 messages will be exchanged via SwiftNet FINplus. Clients will need to ensure their connectivity, including new message subscriptions and, if necessary, a new RMA key exchange to allow transmission of messages via the SwiftNet FINplus network.
For clients which do not support the ISO 20022 message format for meeting instructions, Clearstream Banking will provide a new General Meeting module within Xact Web Portal as an alternative. This will be available from 18 November 2024 and will offer multiple dedicated query options, standardised fields and ways to create or manage instructions manually.
Clearstream Banking has published a document detailing the changes for clients. Furthermore, the ISO 20022 messages for General Meetings used by Clearstream Banking are documented on Swift MyStandards. Clients can refer to this site for an overview of the message structure, allowed fields or specific conditions.
Client testing
Clearstream Banking will offer a guided client test and test cases related to the enhancements of the General Meeting Service. Detailed description of the test and test cases will be found in the SCE Client Testing Guide.
The participation in the guided client simulation is optional but highly recommended. Clients wishing to participate in the test will be asked to register. Completed Client Test Registration Form, has to be submitted to SCE-project@clearstream.com latest by 26 July 2024.
Further information
Attached to this announcement is a presentation providing an overview of the key points and the major changes.
For further information, please contact SCE-project@clearstream.com, Clearstream Banking Client Services or your Relationship Manager.
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1. Clearstream Banking refers collectively to Clearstream Banking S.A., registered office at 42, avenue John F. Kennedy, L-1855 Luxembourg, and registered with the Luxembourg Trade and Companies Register under number B-9248, and Clearstream Banking AG, registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany and registered in Register B of the Amtsgericht Frankfurt am Main, Germany under number HRB 7500.