General Meeting Service

13.02.2024

Flexible General Meeting Service for ICSD and CSD clients

Clearstream offers services for general meetings that cover all our proxy voting markets and eligible instrument types – including Eurobonds and investment funds. It is designed to support domestic and cross-border share and bond holders in their governance rights and to help facilitate active ownership in meeting corporate governance guidelines, such as the EU Shareholders Rights Directive, in delivering general meeting notifications and processing voting instructions, either directly through Clearstream or via our dedicated partner Institutional Shareholder Services (ISS).

Clearstream is offering the following services for general meetings and assists clients and the ultimate beneficial owner to execute their voting rights.

Clearstream General Meeting Service

This service uses Swift messages in ISO 15022 combined with our online Xact Web Portal platform.

CBF accounts for CBF issued securities

Messaging

Notification

Instruction

Swift ISO 15022

Notification contains only minimum meeting information.

Voting instructions are accepted by Swift MT565 and as unsolicited instructions (MT568, MT599).

CBF (for non-CBF issued securities), CBF-i, CBL, and LuxCSD accounts

Messaging

Notification

Instruction

Swift ISO 15022

Notification contains meeting agenda, incl. deadlines

Voting instructions are accepted by Swift MT565 and as unsolicited instructions (MT568, MT599)

Xact Web Portal (Asset Servicing domain)

Notification contains meeting agenda, incl. deadlines


Voting instructions are accepted by Xact Web Portal (Asset Servicing domain), as free format / unsolicited instructions (MT599 upload)

Swift ISO 20022

Planned for 18 November 2024

MT564 (coexistence) via Swift network or MQ

Planned for 18 November 2024

Xact Web Portal (General Meeting module under Asset Servicing domain)

Planned for 18 November 2024

Planned for 18 November 2024

Note: For “Market specificities and additional details” please refer to the attachment below.

General Meeting Service via ISS

Our integral partner ISS has a dedicated team of global procurement professionals and governance analysts with more than 35 years of experience in the process of acquiring, analysing, and processing meeting information for more than 100 global markets.

The General Meeting Service via ISS allows clients to choose between Swift ISO 15022 and ISO 20022 messaging, simultaneously offering an online platform for voting and reporting (ProxyExchange™).

CBF, CBF-i and CBL accounts

Messaging

Notification

Instruction

Swift ISO 15022

Notification contains meeting agenda incl. deadlines

Voting instructions are accepted via Swift MT565

Swift ISO 20022

Notification contains meeting agenda incl. deadlines

Voting instructions are accepted via Swift seev.004

Note: Eurobond events currently remain in Swift ISO 15022 

ISS ProxyExchange™

Notification contains meeting agenda incl. deadlines

Voting instructions are accepted through ISS ProxyExchange™ and via Swift 

ISO 20022 rollout

Clearstream will - with the exception of the notification, for which a MT564 coexistence will continue to exist - replace ISO 15022 messages for general meetings and adopt the full suite of ISO 20022 compliant messages as of 18 November 2024. Please note that for instructions ISO 15022 messages are not supported. ISO 20022 messages contain more structured fields and, hence, better support the STP processing from issuers to end investors and vice versa. Clearstream is updating its service in order to comply with regulatory demands whilst considering market demands. Therefore, it will offer ISO 20022 messages to its clients. For clients which do not support the ISO 20022 message format for meeting instructions, Clearstream will provide a new General Meeting module within Xact Web Portal as an alternative. ​

This module will offer multiple dedicated query options, standardised fields and ways to create or manage instructions manually.

ISO 20022 is an open standard built for the specific needs in the general meetings area. These messages have a higher acceptance by non-Intermediaries and can eliminate many manual processes in individual markets.

The ISO 20022 messages for general meetings used by Clearstream will be documented on Swift MyStandards. Clients can refer to this site for an overview of the message structure, allowed fields or specific conditions.

Relevant documents

CBF accounts

CBL or CBF-i accounts

Announcements

D23014: ISO 20022 rollout for General Meetings – New implementation timeline – Update II

D23014: ISO 20022 Rollout für Hauptversammlungen – Neuer Zeitplan für die Umsetzung – Aktualisierung II

C23007: ISO 20022 rollout for General Meetings – New implementation timeline – Update II

C23007: ISO 20022 Rollout für Hauptversammlungen – Neuer Zeitplan für die Umsetzung – Aktualisierung II

High-level presentation of key points and major changes

SCE Project Implementation of ISO 20022 for general meetings

Detailed Functional Specifications

To be published soon.

Swift MyStandards

To be published soon.