General Meetings service
Flexible General Meetings services for ICSD and CSD clients
Clearstream offers a General Meetings service that covers 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 bondholders 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 Banking is currently offering the following services for General Meetings and assists clients and the ultimate beneficial owner to execute their voting rights.
Clearstream Basic 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 | Planned for 18 November 2024 |
Xact Web Portal (Meeting Event subdomain under Asset Servicing) | Planned for 18 November 2024 | Planned for 18 November 2024 |
Note: For “Market specificities and additional details” please refer to the attachment below.
Clearstream Enhanced 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 Meetings Enhanced 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 replace ISO 15022 messages for General Meetings and adopt the full suite of ISO 20022 compliant messages as of 18 November 2024. 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, together with a compatible Xact Web Portal Meeting event subdomain, built specifically for General Meetings messages exchange, fully supporting ISO 20022.
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. Parallel Swift reporting to clients in ISO 15022 format is not foreseen.
Latest Announcements related to ISO 20022 rollout for GM
C23007: ISO 20022 rollout for General Meetings – New implementation timeline
D23014: ISO 20022 rollout for General Meetings – New implementation timeline