This message is sent by an instructing party, for example, a broker-dealer, to a depositary bank or its authorised representative. It may also be sent by an owner of a depositary receipt to its custodian.
It is used to instruct the issuance or release of a depositary receipt from/to ordinary shares, or to instruct the conversion from one type of depositary receipt to another. It may also be used to:
request the cancellation of a previously sent depositary receipt instruction
re-send a depositary receipt instruction previously sent
provide a third party with a copy of the message (be it the depositary receipt instruction or request for cancellation) being sent.
| Status | Tag | Qualifier | Generic Field Name | Detailed Field Name | Content/Options | No. |
|---|---|---|---|---|---|---|
Mandatory Sequence A General Information |
||||||
M |
16R |
GENL | 1 |
|||
M |
20C |
SEME |
Reference |
:4!c//16x | 2 |
|
M |
23G |
4!c[/4!c] | 3 |
|||
-----> |
||||||
M |
22a |
4!c |
Indicator |
F or H | 4 |
|
-----| |
||||||
O |
12a |
4!c |
Type of Financial Instrument |
A, B, or C | 5 |
|
O |
98a |
PREP |
Date/Time |
A, C, or E | 6 |
|
O |
17B |
PRER |
Flag |
:4!c//1!a | 7 |
|
-----> Optional Repetitive Subsequence A1 Linkages |
||||||
M |
16R |
LINK | 8 |
|||
O |
22F |
LINK |
Indicator |
:4!c/[8c]/4!c | 9 |
|
O |
13a |
LINK |
Number Identification |
A or B | 10 |
|
M |
20C |
4!c |
Reference |
:4!c//16x | 11 |
|
M |
16S |
LINK | 12 |
|||
-----| End of Subsequence A1 Linkages |
||||||
M |
16S |
GENL | 13 |
|||
End of Sequence A General Information |
||||||
Mandatory Sequence B Depositary Receipt Details |
||||||
M |
16R |
DRDETL | 14 |
|||
O |
95a |
ACOW |
Party |
P or R | 15 |
|
O |
97A |
SAFE |
Account |
:4!c//35x | 16 |
|
-----> |
||||||
O |
98a |
4!c |
Date/Time |
A or C | 17 |
|
-----| |
||||||
-----> Mandatory Repetitive Subsequence B1 Details of Financial Instrument |
||||||
M |
16R |
FIDETL | 18 |
|||
M |
35B |
[ISIN1!e12!c] | 19 |
|||
Optional Subsequence B1a Financial Instrument Attributes |
||||||
M |
16R |
FIA | 20 |
|||
O |
94B |
PLIS |
Place |
:4!c/[8c]/4!c[/30x] | 21 |
|
O |
12a |
4!c |
Type of Financial Instrument |
A, B, or C | 22 |
|
O |
11A |
DENO |
Currency |
:4!c//3!a | 23 |
|
-----> |
||||||
O |
98A |
4!c |
Date/Time |
:4!c//8!n | 24 |
|
-----| |
||||||
-----> |
||||||
O |
92A |
4!c |
Rate |
:4!c//[N]15d | 25 |
|
-----| |
||||||
-----> |
||||||
O |
36B |
4!c |
Quantity of Financial Instrument |
:4!c//4!c/15d | 26 |
|
-----| |
||||||
M |
16S |
FIA | 27 |
|||
End of Subsequence B1a Financial Instrument Attributes |
||||||
O |
36B |
QSEC |
Quantity of Financial Instrument |
:4!c//4!c/15d | 28 |
|
O |
92D |
CONV |
Rate |
:4!c//15d/15d | 29 |
|
M |
16S |
FIDETL | 30 |
|||
-----| End of Subsequence B1 Details of Financial Instrument |
||||||
M |
16S |
DRDETL | 31 |
|||
End of Sequence B Depositary Receipt Details |
||||||
-----> Mandatory Repetitive Sequence C Depositary Receipt Parties |
||||||
M |
16R |
DRPRTY | 32 |
|||
-----> |
||||||
M |
95a |
4!c |
Party |
P, Q, R, or S | 33 |
|
-----| |
||||||
-----> |
||||||
O |
97A |
4!c |
Account |
:4!c//35x | 34 |
|
-----| |
||||||
O |
70E |
PACO |
Narrative |
:4!c//10*35x | 35 |
|
M |
16S |
DRPRTY | 36 |
|||
-----| End of Sequence C Depositary Receipt Parties |
||||||
Optional Sequence D Additional Information |
||||||
M |
16R |
ADDINFO | 37 |
|||
-----> |
||||||
O |
70E |
4!c |
Narrative |
:4!c//10*35x | 38 |
|
-----| |
||||||
-----> |
||||||
O |
95a |
4!c |
Party |
P, Q, or R | 39 |
|
-----| |
||||||
-----> |
||||||
O |
19A |
4!c |
Amount |
:4!c//[N]3!a15d | 40 |
|
-----| |
||||||
M |
16S |
ADDINFO | 41 |
|||
End of Sequence D Additional Information |
||||||
C1 If the depositary receipt type (Field :22H::DERE) specifies a program conversion, then Conversion To (Field :22F::CNVT) and Conversion From (Field :22F::CNVF) must be specified and the Type of Financial Instrument (Field 12a) must not be present.
If the depositary receipt type (Field 22H::DERE) does not specify a program conversion, then the Type of Financial Instrument (Field 12a) must be present.
These checks apply to sequence A.
Sequence A if in field :22H::DERE Indicator is ... |
Sequence A then field :22F::CNVT is ... |
Sequence A then field :22F::CNVF is ... |
Sequence A then field 12a is ... |
|---|---|---|---|
CONV |
Mandatory |
Mandatory |
Not allowed |
CONV |
Optional |
Optional |
Mandatory |
C2 In sequence B, it is mandatory to provide an Issue Date/Time (:98a::ISSU) OR a Release Date/Time (:98a::RELD). Both dates may be provided.:
Sequence B if field :98a::ISSU is ... |
Sequence B then field :98a::RELD is ... |
|---|---|
Present |
Optional |
Not present |
Mandatory |
C3 If the message is a cancellation, that is, Function of the Message (field 23G) is CANC, then subsequence A1 (Linkages) must be present at least once in the message, and in one and only one occurrence of A1, field :20C::PREV must be present; consequently, in all other occurrences of A1, field :20C::PREV is not allowed.
Sequence A if field :23G: is ... |
Then subsequence A1 is ... |
And field :20C::PREV is ... |
|---|---|---|
CANC |
Mandatory (minimum one occurrence of A1 must be present) |
Mandatory in one occurrence of subsequence A1, and not allowed in all other occurrences of subsequence A1 |
NEWM |
Optional |
NA |
This message must not be used for instruction(s) concerning a corporate action event related to a depositary receipt. The MT 565 Corporate Action Instruction should be used for this purpose.
When the MT 587 is sent to request a cancellation of a previously sent instruction, field 23G must contain the function to cancel, the Linkage Subsequence must contain the reference of the instruction to be cancelled, and the rest of the message must contain a copy of at least the mandatory fields of the instruction to be cancelled.
The Receiver of a request for cancellation must advise the requesting party that the request has been accepted or denied using an MT 589 Depositary Receipt Status and Processing Advice.