Corporate Resolution to Open a Corporate Account by huj10157

VIEWS: 55 PAGES: 4

Corporate Resolution to Open a Corporate Account document sample

More Info
									                                                                               ISITC US Market Practice Group
                                                                                   Issue/To Do List - 2007

                                                                                                                                              Status
      Owner/Request High/Med/                                                                                                                 Open/Close
Issue or            Low       Description                                              Comments/Resolution                                    d          Date Due    Comment
                                                                                                                                                                     need to upate
                                                                                       9/12/07 conf call discussion to review latest v16                             latest version 16
    1 Steven Gale    High     Finalize MT564 Market Practice Document                  posted on 6/18/07 for additional updates               Open         6/30/2007 for Final Review
                                                                                       9/12/07 conf call discussed updating the Final MP
                                                                                       Guide to include rule for new SR2007 addition of                              need to upate
                                                                                       AMOR balance code. See log #11 (thread 3386 and                               latest version 8 for
    2 All            High     Finalize MT565 Market Practice Document                  3387).                                                 Open         6/30/2007 Final Review
                                                                                       7/12/07 updated after conf call. Posted v5.6 as Final                         Confirm that latest
                                                                                       Review the guideline placement of date elements in                            version 5.6 can be
    3 Sonda Pimental High     Finalize MT566 Market Practice Document                  sequence C vs D                                          Open       6/30/2007 considered final
                                                                                       9/12/07 conf call review v7. Final v8 posted 9/18/07 for
    4 Sonda Pimental High     Finalize MT567 Market Practice Document                  review on 9/26/07 conf call.                             Open       6/30/2007




                                                                                                                                                                     need volunteers to
                                                                                       New MP template distributed 4/26/07 for co-chairs of                          translate each MP
    5 All            Med      Standardize format of all MP documents                   all working groups to review for June '07 conference   Open        12/31/2007 document
                              3/7/07 SMPG posted updated D vs E document to            8/22/07 Need to review any changes to D vs E for
   10 All            High     website. Does the group need to review?                  SR2007                                                 Open



                              Since the U.S. processes only on original face values,
                              should the MT565 market practice document be
                              updated make FAMT mandatory for QINS and QREC.           8/22/07 Reviewed on conf call. AMOR should never
                              Even though both FAMT and AMOR have been made            be used when responding to an event. Since it is
                              to co-exist in SR2007, either code can also exist        becoming available as a balance type code wth
                              independently. Allowing AMOR to exist without FAMT       SR2007, update 565 MP to reference that AMOR
      Roger Cowie             on corporate action instructions will present            should not be sent with QINS or QREC. 3/15/07                                   Need to update
   11 B24            High     processing problems for asset servicers.                 Discussion thread 3386 & 3387                          Open                     final 565 MP




                                                                                                   1
                                                                                 ISITC US Market Practice Group
                                                                                     Issue/To Do List - 2007

                                                                                                                                            Status
      Owner/Request High/Med/                                                                                                               Open/Close
Issue or            Low       Description                                              Comments/Resolution                                  d          Date Due    Comment




                                                                                       9/25/07 Draft posted for review at conference. 8/22/07
                                                                                       conf call - Debbie will have Securities Lending flow
                                                                                       ready for review at Sept 07 conference. 3/20/07 -
                                                                                       Reviewed at March '07 conference. Debbie Mercer-
                              Is there a Market Practice Standard for                  Miller (Citibank) and Linda Sanborn (IBT) offered to                        To be discussed at
      David                   communicating on-loan positions to Recipients via        write up the secuirties lending flow across CA                              Sept conference in
   13 Reinknecht     High     564/568s (outbound)?                                     messages. 3/14/07 Discussion thread 3378               Open       9/27/2007 Boston




                                                                                       9/25/07 Draft posted for review at conference. 8/22/07
                                                                                       conf call - Debbie will have Securities Lending flow
                                                                                       ready for review at Sept 07 conference 3/20/07 -
                                                                                       Reviewed at March '07 conference. Debbie Mercer-
                                                                                       Miller (Citibank) and Linda Sanborn (IBT) offered to                        To be discussed at
      David                   Should loan positions effect eligibility positions and   write up the secuirties lending flow across CA                              Sept conference in
   14 Reinknecht     High     assuming not, how should these be communicated?          messages. 3/14/07 Discussion thread 3378.              Open       9/27/2007 Boston
                                                                                       9/25/07 Draft posted for review at conference. 8/22/07
                                                                                       conf call - Debbie will have Securities Lending flow
                                                                                       ready for review at Sept 07 conference. 3/20/07 -
                                                                                       Reviewed at March '07 conference. Debbie Mercer-
                                                                                       Miller (Citibank) and Linda Sanborn (IBT) offered to                        To be discussed at
      David                   Should loan positions be taken into account on 565s      write up the secuirties lending flow across CA                              Sept conference in
   15 Reinknecht     High     (inbound) from an Authorized Sender? If so how?          messages. 3/14/07 Discussion thread 3378.              Open       9/27/2007 Boston




                                                                                                   2
                                                                                 ISITC US Market Practice Group
                                                                                     Issue/To Do List - 2007

                                                                                                                                               Status
      Owner/Request High/Med/                                                                                                                  Open/Close
Issue or            Low       Description                                               Comments/Resolution                                    d          Date Due    Comment



                                                                                        9/25/07 Draft posted for review at conference. 8/22/07
                                                                                        conf call - Debbie will have Securities Lending flow
                                                                                        ready for review at Sept 07 conference 3/20/07 -
                                                                                        Reviewed at March '07 conference. Debbie Mercer-
                                                                                        Miller (Citibank) and Linda Sanborn (IBT) offered to                          To be discussed at
      David                   Are loan positions purely informational or should they    write up the secuirties lending flow across CA                                Sept conference in
   16 Reinknecht      High    be reflected in the instruction (565 Inbound).            messages. 3/14/07 Discussion thread 3378.              Open         9/27/2007 Boston
                                                                                        9/25/07 - Sonda sent request to Karin with SMPG to
                                                                                        make the update. 9/12/07 - Quinnie confirmed that the
                                                                                        EIG doesn ot include CASH option for CONV events.
                              Increase in Redepmtion events with option to convert      8/22/07 Reviewed on conf call, Qunnie to check that
                              or redeem. Usually announced with CAEV//CONV.             updates were made to the EIG for US market to
                              What is the appropriate option code for the redeem        include CASH option for CONV events. 3/27/07 E-mail                           Confirm with SMPG
                              option? The EIG does not reference CASH as an             sent to discuss addition of CASH option for CONV                              that change as
   24 Michael Stern   High    option for CONV events.                                   events on the EIG.                                     Open                   been made

                                                                                        8/22/07 Need to confirm that update was made to the
                                                                                        564 MP before considered final. 6/15/07 Horace sent
                                                                                        thread 3503 for review. 6/4/07 reviewed at conference.
                                                                                        Agreed that Take No Action is not considered the
                                                                                        default on all voluntary events. Difference between
                                                                                        Take No Action and Will not Participate. Horace to
                                                                                        draft statement to be included in the MT564 MP                                Was this added to
                              Does the US market support Take No Action as the          Guide. 8/22/07 Need to confirm that update was                                the MT564 MP
   25 Horace Harris   High    default on Voluntary actions?                             made to the 564 MP before considered final             Open                   Guide?

                                                                                  8/22/07 Reviewed on conf call. Juan was not present
                                                                                  to review the example in the thread. Generally if there
                              What Market Practice or usage rule should ISITC use are no SWIFT codes to support the information, then
                              when there is so much narrative at the OPTION level narrative needs to be used. 7/3/07 Discussion thread
   30 Juan Nunez      Med     on Notifications MT564s?                            3523 - see example provided in thread                   Open

                              Related to issue #31? What is the appropriate CAEV        8/22/07 Reviewed on conf call. Still needed final
                              to announce ADR Sale of Rights? These look and act        dicission from group. 6/6/07 Discussion thread 3494.                          Did the group come
                              like a dividend but relate to the selling of rights and   Reviewed on conf call. Mixed across Custodians;                               to a final
   35 Tom Jaeggin     Med     ADR holder is deemed not able to own.                     DVCA, MCAL and OTHR are currently being used.          Open                   decission?




                                                                                                    3
                                                                               ISITC US Market Practice Group
                                                                                   Issue/To Do List - 2007

                                                                                                                Status
      Owner/Request High/Med/                                                                                   Open/Close
Issue or            Low       Description                                            Comments/Resolution        d          Date Due   Comment


                              1) For 70a, both formats E and F are valid as per
                              SWIFT. Is it possible (and MP) for someone to send a
                              70E and 70F in the same message? (2) If any
                              additional text is required specific to a CA Option, I
                              assume the information would come in the ADDINFO
                              section? Or is it possible for someone to place CAOP
      David                   in the USECU block, similar to how the SAFE is
   38 Reinknecht     Med      transmitted in the USECU block.                        9/25/07 sent via e-mail    Open




                                                                                                  4

								
To top