MT 565 Field Specifications

37. Field 22a: Indicator

FORMAT

Option F	:4!c/[8c]/4!c	(Qualifier) (Data Source Scheme) (Indicator)
Option H	:4!c//4!c	(Qualifier) (Indicator)

PRESENCE

Mandatory

QUALIFIER

(Error code(s): T89)

Order	M/O	Qualifier	R/N	CR	Options	Qualifier Description
1	M	CAOP	N		F, H	Corporate Action Option Code
2	O	DISF	N		F	Disposition of Fractions
3	O	CHAN	R		F	Change Type

DEFINITION

This qualified generic field specifies:

CAOP	Corporate Action Option Code	CA option selected by the account owner.
DISF	Disposition of Fractions	How fractions resulting from derived securities will be processed.
CHAN	Change Type	Type of change announced.

CODES

If Qualifier is DISF and Data Source Scheme is not present, Indicator must contain one of the following codes (Error code(s): K22):

BUYU	Buy Up	Buy up to next whole number.
CINL	Fractional Part for cash	Take cash in lieu of fractions.
DIST	Distributed	Take distribution of fractions.
EXPI	Expire	Let fractions expire worthless.

CODES

If Qualifier is CAOP and Data Source Scheme is not present, Indicator must contain one of the following codes (Error code(s): K22):

ABST	Abstain	Vote expressed as abstain. In this case, the issuing company will add the number of shares to the quorum of the meeting. If the voting right is not executed, it will not be added to the quorum. In this case, code NOAC should be used.
AMGT	Vote Against Management	Vote against management.
ATCH	Attach	Combine warrants and bonds or warrants and stock to form unit.
BEAR	Bearer Share Exchange	Exchange from registered shares into bearer shares.
BSPL	Bonus Share Plan	Receive shares issued from the Share Premium Reserve of the company and considered as a capital distribution rather than a disbursement of income, with different tax implications (typically found in Australia).
BUYA	Buy Up	Buy additional securities to round up position.
CASE	Cash and Securities	Election choice includes a combination of both cash and securities.
CASH	Cash	Distribution of cash.
CEXC	Consent and Exchange	Vote to consent to change the terms of the securities agreement and to exchange securities.
CTEN	Consent and Tender	Vote to consent to change the terms of the securities agreement and to tender securities for cash.
CEXC	Consent and Exchange	A Consent and Exchange are Exchange Offers that are linked with a vote on the change to the terms of the indenture. The consent part will have a separate expiration from the purchase or exchange offer. A separate consent fee may be paid to consenting holders. There also may be a record date associated with the consent-limiting holders that may participate.
CTEN	Consent and Tender	A Consent and Tender are Tender Offers that are linked with a vote on the change to the terms of the indenture. The consent part will have a separate expiration from the purchase or exchange offer. A separate consent fee may be paid to consenting holders. There also may be a record date associated with the consent-limiting holders that may participate.
CONN	Consent Denied	Event or proposal not approved.
CONV	Convert	Convert underlying securities into other securities, not cash.
CONV	Convert	Convert underlying securities.
CONY	Consent Granted	Event or proposal approved.
DETH	Detach	Separate units into individual securities - warrants and bonds, warrants and equity.
EXER	Exercise	Exercise intermediate securities or warrants.
DRIP	Reinvestment	Reinvestment proceeds into securities.
EDVO	Enhanced Dividend Option	Option to receive securities that are sold back to the issuing company.
EXER	Exercise	Exercise rights and subscribe to new shares; Exercise warrant.
IBBO	Issuer Buy Back Option	The issuer buys back the rights(or other form of entitlement),, as opposed to selling them on the market.
LAPS	Lapse	Allow event or entitled security to expire. offer or privilege to lapse.
MNGT	Vote With Management	Vote with management.
MPUT	Mandatory Put with a Right to Retain	An option to execute a feature of indenture that allows a holder to elect to retain a putable bond.
NOAC	No Action	Option for the account owner not to take part in the event.
NOAC	No Action	Account servicer should take no action on behalf of the account owner.
OFFR	Proposed Rate	In a remarketing of variable notes, the margin that shareholders can propose in respect of the next interest period.
OTHR	Other	A generic corporate action option, to be used in case no other specific code is appropriate.
OVER	Oversubscribe	Subscribe to more new shares than underlying securities position allows when allowed.
PROX	Proxy Card	Issue a proxy card in case of voting.
PUTT	Putt Securities	Sell or redeem securities with the Issuing Company.
REGD	Registered Share Exchange	Exchange from bearer shares into registered shares.
REGS	Regulation S Exchange	Exchange of securities into the Regulation S tranche. Will typically be used in the 'restricted period', i.e. the period when a party can change its holdings between 144A and REGS.
SECU	Securities Option	Benefit is to receive securities.
REGS	Regulation S	Exchange of securities into Regulation S tranche. Regulation S clarifies the conditions under which offers and sales of securities made outside the US are exempt from SEC registration requirements.
SECU	Securities Option	Distribution of securities.
SLLE	Sell Entitlement	Sell the intermediate securities. rights or entitlement.
SPLI	Split Instruction	Option to give a split instruction, eg, a split voting instruction on a meeting.
TAXI	Tax Instruction	Tax instruction.
144A	Rule 144A	Exchange of securities into the 144A tranche. Will typically be used in the 'restricted period', i.e. the period when a party can change its holdings between 144A and REGS.
144A	Rule 144A	Exchange of securities into the 144A tranche. Rule 144A permits Qualified Institutional Buyers (QIB's) to trade privately placed securities without the requirement of holding them for two to three years.
MKDW	MarkDown	Mark Down the global certificate as a result of a corporate action (instruction from ICSDs to common depositories who are holding the global certificate on behalf of the ICSDs.
MKUP	MarkUp	Mark up the global certificate as a result of a corporate action (instruction from ICSDs to common depositories who are holding the global certificate on behalf of the ICSDs).

CODES

If Qualifier is CHAN and Data Source Scheme is not present, Indicator must contain one of the following codes (Error code(s): K22):

NAME	Name	The issuing company changes its name. Event shows the change from old name to new name and may involve surrendering physical shares with the old name to the registrar.
CERT	Certificates	Change of all instruments into certificates.
TERM	Terms	Change in the terms of the security.
BERE	Bearer to Registered	Change from bearer into registered form.
REBE	Registered to Bearer	Change from registered into bearer form.
PHDE	Physical to Dematerialised	Change from physical into dematerialised form.
DEPH	Dematerialised to Physical	Change from dematerialised into physical form.
GTGP	Global Temporary to Global Permanent	Change from global temporary to global permanent form.
GTPH	Global Temporary to Physical	Change from global temporary to physical form.
GPPH	Global Permanent to Physical	Change from global permanent to physical form.

USAGE RULES

If for an exercise of warrants or an exercise of rights, the proceeds are known, the more precise codes like CASH, SECU, CASE or NOAC should be used. If the proceeds are at issuer choice, ie, the proceeds are not known upfront, EXER should be used.

If for a conversion event, the proceeds are known, the more precise codes like CASH, SECU, CASE or NOAC should be used. If the proceeds are at issuer choice, ie, the proceeds are not known upfront, CONV should be used.

If the Corporate Action option code TAXI is used, then sequence C should be present.