Corporate actions processing: Introduction of unique alphanumerical reference for interest payments

Following Clearstream Banking AG's¹ Announcement D18053, CBF will introduce a further enhancement for the corporate actions processing with the release on

19 November 2018

Description of the changes

With the CBF Release November 2018, the reporting for interest payments (interest = TA110) resulting from KADI² processing will be modified. In the automated connectivity channels (SWIFT, MQ or File Transfer), the "CORP ID" becomes an alphanumeric value. The reference is still shown as a 16-digit ID for corporate actions in Sequence A "General Information" using "20C::CORP".

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From 19 November 2018, the assignment of the new "CORP ID" will start. After the implementation day, all interest payments that are generated by KADI will show the new alphanumeric value. Interest payments that are paid after the launch of the modification, but have been notified prior by CBF, show the current values. This means that the "old" reference is used in automated message channels (MT564 REPE and MT566). If a cancellation is required for an interest payment that was processed before 19 November 2018, the "CORP ID" shows the value communicated for this. For the rerun, the "CORP ID" is generated with the new rule.

Potential customer impact

CBF delivers the "CORP ID" as a mandatory field in the automated message flow to customers. The use of this reference depends on the requirements of the customer's systems. The change in the composition of the reference can impact the functional and organisational procedures of customers. In the past, the reference was exclusively assigned numerically, although the definition of the "CORP ID" also allows an alphanumeric format. Therefore, we ask our customers to assess the modification in terms of formatting.

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1.This Announcement is published by Clearstream Banking AG (CBF), registered office at Mergenthalerallee 61, 65760 Eschborn, Germany, registered with the Commercial Register of the District Court in Frankfurt am Main, Germany, under number HRB 7500.
2. KADI = CBF application for processing of custody events
3. Terminart = event type