2.31 Switch Order

This topic provides information on Switch Order and its tags in messages.

Switch Order Message

The Switch Order message is sent by an instructing party to an executing party. There may be one or more intermediary parties between the instructing party and the executing party.

The Switch Order message is used when the instructing party, i.e., an investor, wants to change its investments within the same fund family according to the terms of the prospectus.

FCIS supports one to one switch transactions for incoming requests. The ‘To Fund’ information will be taken from Subscription Leg Details.

For outgoing messages, switch transactions will be communicated in separate legs for redemption and subscription. FCIS will allow the generation of this message in an automated way (based on a certain event that is triggered in the system) or manually.

If the AMC of the ‘From Fund’ and ‘To Fund’ are different; system will generate a pseudo switch transaction. In other cases system will generate a normal switch transaction.

This topic contains the following sub-topics:

• Tags in Messages
  This topic provides information on Switch Order and its tags in messages.