T2S Release 5.0: Impact on customers

16.04.2021

LuxCSD1 informs its customers that effective

15 June 2021

the cancellation reason codes of instructions will be updated.

Background

With Release 5.0 in June 2021, T2S will introduce additional cancellation reason codes (T2S-0688-SYS “Enhanced reporting of cancellation reason codes”) already available in the ISO 20022 standard, allowing for an improved reconciliation of a cancellation and the related transaction. In addition to the already existing reason code “CANT” in use for the operational processing of corporate events (transformations), additional cancellation codes will be added for ISO 15022 reporting.

Impact on customers

The Cancellation reasons will be shown in the MT548 Settlement Status and Processing Advice as follows:

Xact via SWIFT

In the MT548 “Settlement Status and Processing Advice”, under 24B::CAND//”Reason code”

CAND//BYIY: Cancelled Due to Buy In

CAND//CSUB: Cancelled by Agent

CAND//EXPI: Expired (Based on CXLR ‘End of Life’ send by T2S)      

CAND//CANI: Cancelled Split Partial Settlement

CAND//CORP: Cancelled Due to Corporate Action

CAND//SCEX: Securities No Longer Eligible

CAND CXLR: (only for CBF) End of Life, if an instruction exceeds the recycling period

Further information

For further information, customers may contact LuxCSD Client Support or their relationship manager.

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1. LuxCSD refers to LuxCSD, société anonyme registered office at 42, avenue John F. Kennedy, L-1855 Luxembourg, Luxembourg, registered with the Trade and Company Register of Luxembourg, under number B. 154 449.