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Scope
An executing party, eg, a transfer agent sends the SubscriptionBulkOrderConfirmationCancellationInstruction message to the instructing party, eg, an investment manager or its authorised representative to cancel a previously sent SubscriptionBulkOrderConfirmation.
Usage
The SubscriptionBulkOrderConfirmationCancellationInstruction message is used to cancel one or more previously sent subscription bulk order confirmations. The amendment indicator element is used to specify whether the subscription bulk order confirmation cancellation is to be followed by a SubscriptionBulkOrderConfirmationAmendment.
The SubscriptionBulkOrderConfirmationCancellationInstruction message is used to either:
- cancel an entire SubscriptionBulkOrderConfirmation message, ie, all the individual order confirmations that it contained, or,
- request the cancellation of one or more individual confirmations.
There are two ways to use the message.
(1) When the SubscriptionBulkOrderConfirmationCancellationInstruction message is used to cancel an entire message, this can be done by either:
- quoting the business references, eg, OrderReference, Deal Reference, of all the individual order confirmations listed in the SubscriptionBulkOrderConfirmation message, or,
- quoting the details of all the individual order confirmations (this includes the OrderReference and DealReference) listed in SubscriptionBulkOrderConfirmation message but this is not recommended.
The message identification of the SubscriptionOrderConfirmation message may also be quoted in PreviousReference. It is also possible to instruct the cancellation of an entire confirmation message by quoting its message identification in PreviousReference, but this is not recommended.
(2) When the SubscriptionBulkOrderConfirmationCancellationInstruction message is used to cancel one or more individual order confirmations, this can be done by either:
- quoting the business references, eg, OrderReference, Deal Reference, of each individual order confirmation listed in the SubscriptionBulkOrderConfirmation message, or, - quoting the details of each individual order execution (this includes the OrderReference and DealReference) listed in SubscriptionBulkOrderConfirmation message but this is not recommended. The message identification of the SubscriptionBulkOrderConfirmation message in which the individual order confirmation was conveyed may also be quoted in PreviousReference.
The rejection or acceptance of a SubscriptionBulkOrderCancellationInstruction is made using an OrderConfirmationStatusReport message.
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