This message is sent by a depositary bank or its authorised representative to an instructing party, eg, a broker-dealer. It may also be sent by a custodian to an owner of a depositary receipt.
It is used to confirm the issuance or release of a depositary receipt from/to ordinary shares, or to confirm the conversion from one type of depositary receipt to another, and to provide details concerning cash movements associated with the processing of the depositary receipt. It may also be used to:
reverse a previously sent depositary receipt confirmation
re-send a depositary receipt confirmation previously sent
provide a third party with a copy of the message (be it the depositary receipt confirmation or reversal of a previously sent depositary receipt confirmation) being sent.