AccountOpeningInstructionV08 (AcctOpngInstr)

Scope

The AccountOpeningInstruction message is sent by an account owner, for example, an investor or its designated agent to the account servicer, for example, a registrar, transfer agent, custodian or securities depository, to instruct the opening of an account or the opening of an account and the establishment of an investment plan.

Usage

The AccountOpeningInstruction is used to open an account directly or indirectly with the account servicer or an intermediary. In some markets, for example, Australia, and for some products in the United Kingdom, a first order (also known as a deposit instruction) is placed at the same time as the account opening. To cater for this scenario, an order message can be linked (via references in the message) to the AccountOpeningInstruction message when needed. Execution of the AccountOpeningInstruction is confirmed via an AccountDetailsConfirmation message.

Outline

The AccountOpeningInstructionV08 MessageDefinition is composed of 16 MessageBuildingBlocks:

Message Identification — Reference that uniquely identifies the message from a business application standpoint.
Order Reference — Identifies a related order or settlement transaction.
Previous Reference — Reference to a linked message that was previously sent.
Instruction Details — Information about the opening instruction.
Investment Account — Detailed information about the account to be opened.
Account Parties — Information related to parties that are related to the account, for example, primary account owner.
Intermediaries — Intermediary or other party related to the management of the account.
Placement — Referral information.
New Issue Allocation — Eligibility conditions applicable when there is an allocation of new issues for hedge fund account opening.
Savings Investment Plan — Plan that allows individuals to set aside a fixed amount of money at specified intervals, usually for a special purpose, for example, retirement.
Withdrawal Investment Plan — Plan through which holdings are depleted through regular withdrawals at specified intervals.
Cash Settlement — Cash settlement standing instruction associated to transactions on the account.
Service Level Agreement — Identifies documents to be provided for the account opening.
Additional Information — Additional information such as remarks or notes that must be conveyed about the account management activity and or any limitations and restrictions.
Market Practice Version — Identifies the market practice to which the message conforms.
Extension — Additional information that cannot be captured in the structured elements and/or any other specific block.