ISSA Global Corporate Actions Principles - Clearstream

International Securities Services Association ISSACorporate Actions Working GroupA Possible Approach for Implementation and Status MonitoringThe table below is purely for illustration purposes. Its exact contents would have to be tailored to the specific monitoring task.StrategyTacticRegional ActivityGoal # Detail # Detail Global Americas Europe AsiaPac Africa1 Create Event Templates with data element ownership1S/NMPG to publically provide clear/concise event2 Develop process by which public access is permitted for all templatestemplates that meet Local and Global Market needs3 Ensure publicly announced Unique ID is provided by respective market body(ies)1: Create an Issuer to InvestorEvent templates should include Mandatory data to be 1 Define Data Elements as Mandatory, Conditional, Optional2 provided by the 3 constituencies: Issuer and2 Validate templates with all 3 constituenciesElectronic processInfrastructure, Intermediaries and Investors. 3 Gain public support/adoptionWork with appropriate ISO bodies to enhance ISO 20022 business model standards1ISO to adopt S/NMPG templates to ensure effective3messaging2 Work with appropriate ISO bodies to enhance ISO 20022 message standards3 Work with appropriate ISO bodies to permit variants as needed/required1 Define Event Types / Groups1 General Corporate action definitions2 Develop end-to-end process maps for each event group3 Develop data element data dictionary for use in each processing step1 Define the Actors and Roles involved2 Define how Announcements are processed2 Define timelines, content and process for announcement dissemination by party3 Ensure public access to key information including event ID1 Define the Actors and Roles involved3 Define how Elections are processed2 Define and standardize deadline dates2: Defined Market Practice3 Define unique option characteristics1 Define the Actors and Roles involved4 Define how Payments are processed2 All Payments should be book entry3 Reversals should be announced beforehand1 Define the Actors and Roles involved5 Define how Buyer Protection /Claims is processed 2 Define each type by market: Claim, Transformation and Buyer protection3 Agree of practices for each type1 Define the Actors and Roles involved6 Define how Tax is processed2 Agree practices for each type of tax: Withholding, Cost Basis etc31 Identify appropriate market bodiesIdentify, by market, (Local, Regional and Global) the1appropriate bodies2 Develop strategy for engagement2: Active Market Enforcement31 Engage appropriate market bodies2 Engage the appropriate bodies for support2 Provide clearer guidelines and market expectations3 Help define rule changes that meet market requirementsKeyCompletePartialNot StartedMay 2010 27