Special Scenario Logic

AKAS logic includes processes for predictable settlement scenarios that are not addressed purely by default depositories. This section covers the following scenarios:

Supranational Security

Table 2 lists the ALERT keys for supranational securities.

Table 2  Supranational Security Scenario

Condition 1

Condition 2

ALERT Default

Country

Method

Security

Settlement Currency = USD or first two characters of ISIN = US and ISIN Starts with US0451, US4581, US4590, or US4595

Settlement Currency = NULL and Traded Currency = US or first two characters of ISIN = US and
ISIN Starts with US0451, US4581, US4590, or US4595

US

(Normal derivation)

TRY

Settlement Currency = USD or first two characters of ISIN = US and ISIN does not start with US0451, US4581, US4590, or US4595

Settlement Currency = NULL and Traded Currency = USD or first two characters of ISIN = US and
ISIN does not start with US0451, US4581, US4590, or US4595

US

(Normal derivation)

COB

Settlement Currency = EUR or ISIN Country Code = XS or Domicile Country code = LU

Settlement Currency = NULL and Traded Currency = EUR

EU

(Normal derivation)

COB

Security Type Exceptions

Table 3 lists the ALERT keys when there are security type exceptions, except where noted.

Table 3  Security Type Exceptions Scenario

Condition 1

Condition 2

ALERT Default

Country

Method

Security

Settlement Currency = USD *

Settlement Currency = NULL and Traded Currency = USD *

US

(Normal derivation)

EQU

Settlement Currency = GBP *

Settlement Currency = NULL and Traded Currency = GBP *

GB

(Normal derivation)

EQU

Settlement currency = HKD
and ISIN country = CN, KY, or BM *

Settlement Currency = NULL, Traded Currency = HKD,
and ISIN country = CN, KY, or BM *

HK

(Normal derivation)

EQU

First two characters of ISIN = XS

 

EUR

(Normal derivation)

COB

Security Type = Municipal Bond

None

(Normal derivation)

(Normal derivation)

COB

Security Type = TBA

None

(Normal derivation)

FEDWIRE

MBS
*   And security type is not found.

Depository Receipt

Table 4 lists the ALERT keys when the security type is a depository receipt.

Table 4  Depository Receipt Scenario

Condition 1

Condition 2

ALERT Default

Country

Method

Security

Settlement Currency = USD

Settlement Currency = NULL
and Traded Currency = USD

US

(Normal Derivation)

ADR

Settlement Currency = GBP

Settlement Currency = NULL
and Traded Currency = GBP

GB

(Normal Derivation)

GDR

Settlement Currency = EUR

Settlement Currency = NULL
and Traded Currency = EUR

Country based on ISIN

(Normal Derivation)

GDR

Settlement Currency ≠ USD,
GBP, or EUR

Settlement Currency = NULL
and Traded Currency ≠ USD, GBP, or EUR

Country based on ISIN

(Normal Derivation)

(Normal derivation)

Country Has No Default Depository

Table 5 lists the ALERT keys when the country associated with a security identifier has no default depository.

Table 5  Country Has No Default Depository Scenarios

Condition 1

Condition 2

ALERT Default

Country

Method

Security

Settlement Currency = USD

Settlement Currency = NULL and Traded Currency = USD

US

(Normal derivation)

(Normal derivation)

Settlement Currency = GBP

Settlement Currency = NULL and Traded Currency = GBP

GB

(Normal derivation)

(Normal derivation)

Security Identifier Type is an ISIN, SEDOL, or Neither

Table 6 lists the ALERT keys when the security identifier type is an ISIN or SEDOL or neither.

Table 6  Security Identifier Type is an ISIN, SEDOL, or Neither

Scenario Qualifier

Condition 1

Condition 2

ALERT Default

Country

Method

Security

Security Identifier is an ISIN

ISIN Country Code = XS

None

EU

(Normal derivation)

(Normal derivation)

Security Identifier is a SEDOL

Country Code for SEDOL is populated

None

Country Code associated with SEDOL

(Normal derivation)

(Normal derivation)

Security Identifier is a SEDOL

Country Code for SEDOL is NULL

None

Country Code associated with ISIN

(Normal derivation)

(Normal derivation)

Security Identifier is not an ISIN or SEDOL

None

None

Country Code associated with ISIN

(Normal derivation)

(Normal derivation)

Security Identifier is not a SEDOL

Settlement Currency = HKD and ISIN Country = CN, KY, or BM

Settlement Currency = NULL, Traded Currency = HKD, and ISIN Country = CN, KY, or BM

HK

(Normal derivation)

(Normal derivation)

Security Identifier is a Specific ISIN with Other Conditions

Table 7 lists the ALERT keys when the security identifier is a specific ISIN in combination with different currencies, country codes, and currencies.

Table 7  Security Identifier is a Specific ISIN and Other Conditions Scenario

Condition 1
(Security Identifier)

Condition 2

Condition 3

ALERT Default

Country

Method

Security

ISIN =AN8068571086

None

None

USA

(default)

EQU

ISIN = BMG2624N1535

None

None

SGP

(default)

EQU

ISIN = BMG4587L1090

None

None

SGP

(default)

EQU

ISIN = BMG507361001

None

None

SGP

(default)

EQU

ISIN = BMG507641022

None

None

SGP

(default)

EQU

ISIN = BMG9349W1038

None

None

NLD

(default)

EQU

ISIN = PG0008579883

None

None

AUS

(default)

EQU

ISIN = CS0008418869

Settlement Currency = CZK

Settlement Currency = NULL
and Traded Currency = CZK

CZ

(default)

EQU

ISIN = ES0127797019

Settlement Currency =EUR

Settlement Currency = NULL
and Traded Currency = EUR

PRT

(default)

EQU

ISIN = LU0156801721

Settlement Currency =EUR

Settlement Currency = NULL
and Traded Currency = EUR

ITA

(default)

EQU

ISIN = LU0307018795

Settlement Currency =EUR

Settlement Currency = NULL
and Traded Currency = EUR

DEU

(default)

EQU

ISIN = LU0556041001

Settlement Currency =EUR

Settlement Currency = NULL
and Traded Currency = EUR

ITA

(default)

EQU

ISIN = LU0569974404

Settlement Currency =EUR

Settlement Currency = NULL
and Traded Currency = EUR

NLD

(default)

EQU

ISIN = LU0775917882

Settlement Currency =EUR

Settlement Currency = NULL
and Traded Currency = EUR

DEU

(default)

EQU

ISIN = LU1048328220

Settlement Currency =EUR

Settlement Currency = NULL
and Traded Currency = EUR

ESP

(default)

EQU

ISIN = LU1066226637

Settlement Currency =EUR

Settlement Currency = NULL
and Traded Currency = EUR

DEU

(default)

EQU

ISIN = LU1250154413

Settlement Currency =EUR

Settlement Currency = NULL
and Traded Currency = EUR

DEU

(default)

EQU

ISIN = LU1296758029

Settlement Currency =EUR

Settlement Currency = NULL
and Traded Currency = EUR

DEU

(default)

EQU

ISIN = LU1598757687

Settlement Currency =EUR

Settlement Currency = NULL
and Traded Currency = EUR

NLD

(default)

EQU

ISIN = LU1673108939

Settlement Currency =EUR

Settlement Currency = NULL
and Traded Currency = EUR

DEU

(default)

EQU

ISIN = LU1704650164

Settlement Currency =EUR

Settlement Currency = NULL
and Traded Currency = EUR

DEU

(default)

EQU

ISIN = LU1789205884

Settlement Currency =EUR

Settlement Currency = NULL
and Traded Currency = EUR

NLD

(default)

EQU

ISIN = CH0198251305

Settlement Currency =GBP

Settlement Currency = NULL
and Traded Currency = GBP

GBR

(default)

EQU

ISIN = DE000TUAG000

Settlement Currency =GBP

Settlement Currency = NULL
and Traded Currency = GBP

GBR

(default)

EQU

ISIN = ES0177542018

Settlement Currency =GBP

Settlement Currency = NULL
and Traded Currency = GBP

GBR

(default)

EQU

ISIN = FR0000121972

Settlement Currency =GBP

Settlement Currency = NULL
and Traded Currency = GBP

GBR

(default)

EQU

ISIN = ZAE000255360

Settlement Currency =GBP

Settlement Currency = NULL
and Traded Currency = GBP

GBR

(default)

EQU

ISIN = GB0004082847

Settlement Currency =HKD

Settlement Currency = NULL
and Traded Currency = HKD

HKG

(default)

EQU

ISIN = IT0003874101

Settlement Currency =HKD

Settlement Currency = NULL
and Traded Currency = HKD

HKG

(default)

EQU

ISIN = FO0000000179

Settlement Currency =NOK

Settlement Currency = NULL
and Traded Currency = NOK

NOR

(default)

EQU

ISIN = LU0445408270

Settlement Currency =USD

Settlement Currency = NULL
and Traded Currency = USD

USA

(default)

EQU

ISIN = LU0584671464

Settlement Currency =USD

Settlement Currency = NULL and
Traded Currency = USD

USA

(default)

EQU

ISIN = LU0914713705

Settlement Currency =USD

Settlement Currency = NULL and
Traded Currency = USD

USA

(default)

EQU

ISIN = LU0974299876

Settlement Currency =USD

Settlement Currency = NULL and
Traded Currency = USD

USA

(default)

EQU

ISIN = LU1057788488

Settlement Currency =USD

Settlement Currency = NULL and
Traded Currency = USD

USA

(default)

EQU

ISIN = LU1092234845

Settlement Currency =USD

Settlement Currency = NULL and
Traded Currency = USD

USA

(default)

EQU

ISIN = LU1405802361

Settlement Currency =USD

Settlement Currency = NULL and
Traded Currency = USD

USA

(default)

EQU

ISIN = LU1565283667

Settlement Currency =USD

Settlement Currency = NULL and
Traded Currency = USD

USA

(default)

EQU

ISIN = LU1756447840

Settlement Currency =USD

Settlement Currency = NULL and
Traded Currency = USD

USA

(default)

EQU

ISIN = LU1778762911

Settlement Currency =USD

Settlement Currency = NULL and
Traded Currency = USD

USA

(default)

EQU

Country Code is an ISIN with a Specific Security Identifier

Table 8 lists the ALERT keys when the country code is an ISIN in combination with a specific security identifier, security types, and currencies.

Table 8  Country Code is Specific ISIN and Other Conditions Scenario

Condition 1
(Country Code of ISIN)

Condition 2

Condition 3

ALERT Default

Country

Method

Security

Security Identifier starts with = AU
and Security Type = EQU

Settlement Currency = GBP

Settlement Currency = NULL and
Traded Currency = GBP

 GBR

(default)

EQU

Security Identifier starts with = AU
and Security Type = EQU

Settlement Currency = NZD

Settlement Currency = NULL and
Traded Currency = NZD

 NZL

(default)

EQU

Security Identifier starts with = BM and Security Type = EQU

Settlement Currency = AUD

Settlement Currency = NULL and
Traded Currency = AUD

 AUS

(default)

EQU

Security Identifier starts with = NZ and Security Type = EQU

Settlement Currency = AUD

Settlement Currency = NULL and
Traded Currency = AUD

 AUS

(default)

EQU

Security Identifier starts with = BM and Security Type = EQU

Settlement Currency = CAD

Settlement Currency = NULL and
Traded Currency = CAD

 CAN

(default)

EQU

Security Identifier starts with = JE and Security Type = EQU

Settlement Currency = CAD

Settlement Currency = NULL and
Traded Currency = CAD

 CAN

(default)

EQU

Security Identifier starts with = KY and Security Type = EQU

Settlement Currency = CAD

Settlement Currency = NULL and
Traded Currency = CAD

 CAN

(default)

EQU

Security Identifier starts with = MC and Security Type = EQU

Settlement Currency = EUR

Settlement Currency = NULL and
Traded Currency = EUR

 EUR

(default)

EQU

Security Identifier starts with = BM and Security Type = EQU

Settlement Currency = GBP

Settlement Currency = NULL and
Traded Currency = GBP

 GBR

(default)

EQU

Security Identifier starts with = CA and Security Type = EQU

Settlement Currency = GBP

Settlement Currency = NULL and
Traded Currency = GBP

 GBR

(default)

EQU

Security Identifier starts with = IL and Security Type = EQU

Settlement Currency = GBP

Settlement Currency = NULL and
Traded Currency = GBP

 GBR

(default)

EQU

Security Identifier starts with = IM and Security Type = EQU

Settlement Currency = GBP

Settlement Currency = NULL and
Traded Currency = GBP

 GBR

(default)

EQU

Security Identifier starts with = JE and Security Type = EQU

Settlement Currency = GBP

Settlement Currency = NULL and
Traded Currency = GBP

 GBR

(default)

EQU

Security Identifier starts with = KY and Security Type = EQU

Settlement Currency = GBP

Settlement Currency = NULL and
Traded Currency = GBP

 GBR

(default)

EQU

Security Identifier starts with = LU and Security Type = EQU

Settlement Currency = GBP

Settlement Currency = NULL and
Traded Currency = GBP

 GBR

(default)

EQU

Security Identifier starts with = SG and Security Type = EQU

Settlement Currency = GBP

Settlement Currency = NULL and
Traded Currency = GBP

 GBR

(default)

EQU

Security Identifier starts with = VG and Security Type = EQU

Settlement Currency = GBP

Settlement Currency = NULL and
Traded Currency = GBP

 GBR

(default)

EQU

Security Identifier starts with = BM and Security Type = EQU

Settlement Currency = HKD

Settlement Currency = NULL and
Traded Currency = HKD

 HKG

(default)

EQU

Security Identifier starts with = JE and Security Type = EQU

Settlement Currency = HKD

Settlement Currency = NULL and
Traded Currency = HKD

 HKG

(default)

EQU

Security Identifier starts with = KY and Security Type = EQU

Settlement Currency = HKD

Settlement Currency = NULL and
Traded Currency = HKD

 HKG

(default)

EQU

Security Identifier starts with = LU and Security Type = EQU

Settlement Currency = HKD

Settlement Currency = NULL and
Traded Currency = HKD

 HKG

(default)

EQU

Security Identifier starts with = SG and Security Type = EQU

Settlement Currency = HKD

Settlement Currency = NULL and
Traded Currency = HKD

 HKG

(default)

EQU

Security Identifier starts with = VG and Security Type = EQU

Settlement Currency = HKD

Settlement Currency = NULL and
Traded Currency = HKD

 HKG

(default)

EQU

Security Identifier starts with = KY and Security Type = EQU

Settlement Currency = ILS

Settlement Currency = NULL and
Traded Currency = ILS

 ISR

(default)

EQU

Security Identifier starts with = SG and Security Type = EQU

Settlement Currency = ILS

Settlement Currency = NULL and
Traded Currency = ILS

 ISR

(default)

EQU

Security Identifier starts with = BM and Security Type = EQU

Settlement Currency = NOK

Settlement Currency = NULL and
Traded Currency = NOK

 NOR

(default)

EQU

Security Identifier starts with = LU and Security Type = EQU

Settlement Currency = NOK

Settlement Currency = NULL and
Traded Currency = NOK

 NOR

(default)

EQU

Security Identifier starts with = GB and Security Type = EQU

Settlement Currency = NZD

Settlement Currency = NULL and
Traded Currency = NZD

 NZL

(default)

EQU

Security Identifier starts with = LU and Security Type = EQU

Settlement Currency = PLN

Settlement Currency = NULL and
Traded Currency = PLN

 POL

(default)

EQU

Security Identifier starts with = CA and Security Type = EQU

Settlement Currency = SEK

Settlement Currency = NULL and
Traded Currency = SEK

 SWE

(default)

EQU

Security Identifier starts with = CH and Security Type = EQU

Settlement Currency = SEK

Settlement Currency = NULL and
Traded Currency = SEK

 SWE

(default)

EQU

Security Identifier starts with = FI and Security Type = EQU

Settlement Currency = SEK

Settlement Currency = NULL and
Traded Currency = SEK

 SWE

(default)

EQU

Security Identifier starts with = GB and Security Type = EQU

Settlement Currency = SEK

Settlement Currency = NULL and
Traded Currency = SEK

 SWE

(default)

EQU

Security Identifier starts with = MT and Security Type = EQU

Settlement Currency = SEK

Settlement Currency = NULL and
Traded Currency = SEK

 SWE

(default)

EQU

Security Identifier starts with = BM and Security Type = EQU

Settlement Currency = SGD

Settlement Currency = NULL and
Traded Currency = SGD

 SGP

(default)

EQU

Security Identifier starts with = MU and Security Type = EQU

Settlement Currency = SGD

Settlement Currency = NULL and
Traded Currency = SGD

 SGP

(default)

EQU

Security Identifier starts with = TH and Security Type = EQU

Settlement Currency = SGD

Settlement Currency = NULL and
Traded Currency = SGD

 SGP

(default)

EQU

Security Identifier starts with = KY and Security Type = EQU

Settlement Currency = TWD

Settlement Currency = NULL and
Traded Currency = TWD

 TWN

(default)

EQU

Security Identifier starts with = BM and Security Type = EQU

Settlement Currency = USD

Settlement Currency = NULL and
Traded Currency = USD

 USA

(default)

EQU

Security Identifier starts with = CA and Security Type = EQU

Settlement Currency = USD

Settlement Currency = NULL and
Traded Currency = USD

 USA

(default)

EQU

Security Identifier starts with = CH and Security Type = EQU

Settlement Currency = USD

Settlement Currency = NULL and
Traded Currency = USD

 USA

(default)

EQU

Security Identifier starts with = IL and Security Type = EQU

Settlement Currency = USD

Settlement Currency = NULL and
Traded Currency = USD

 USA

(default)

EQU

Security Identifier starts with = JE and Security Type = EQU

Settlement Currency = USD

Settlement Currency = NULL and
Traded Currency = USD

 GBR

(default)

EQU

Security Identifier = KY and
Security Type = EQU

Settlement Currency = USD

Settlement Currency = NULL and
Traded Currency = USD

 USA

(default)

EQU

Security Identifier starts with = MU and Security Type = EQU

Settlement Currency = USD

Settlement Currency = NULL and
Traded Currency = USD

 USA

(default)

EQU

Security Identifier starts with = PA and Security Type = EQU

Settlement Currency = USD

Settlement Currency = NULL and
Traded Currency = USD

 USA

(default)

EQU

Security Identifier starts with = IM and Security Type = EQU

Settlement Currency = ZAR

Settlement Currency = NULL and
Traded Currency = ZAR

 ZAF

(default)

EQU

Security Identifier starts with = JE and Security Type = EQU

Settlement Currency = ZAR

Settlement Currency = NULL and
Traded Currency = ZAR

 ZAF

(default)

EQU

Security Identifier starts with = LU and Security Type = EQU

Settlement Currency = ZAR

Settlement Currency = NULL and
Traded Currency = ZAR

 ZAF

(default)

EQU

Security Identifier starts with = NL and Security Type = EQU

Settlement Currency = ZAR

Settlement Currency = NULL and
Traded Currency = ZAR

 ZAF

(default)

EQU

Security Identifier starts with = VG and Security Type = EQU

Settlement Currency = ZAR

Settlement Currency = NULL and
Traded Currency = ZAR

 ZAF

(default)

EQU

Security Identifier starts with = GG and Security Type = EQU

None

None

 GBR

(default)

EQU

Security Identifier starts with = US
and Security Type = TRY

Domicile Country Code <> USA

None

 USA

(default)

COB