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Transcript of Settlement and Financial Instruments Registration … NATIONAL BANK OF ROMANIA Settlement and...
1
NATIONAL BANK OF ROMANIA
Settlement and Financial Instruments
Registration (SaFIR) System
SWIFT User Guide
- March 2018 -
Unofficial translation (provided for information purposes only)
2
Index
1 General Information ..................................................................................................... 4
1.1 SaFIR functions .......................................................................................... 4 1.2 Participants’ connection to SaFIR ............................................................ 4
2 Classification criteria ................................................................................................... 5 3 Glossary of terms ......................................................................................................... 7 4 Template messages and operational flow ............................................................. 8
4.1 Settlement instructions ............................................................................. 8 4.1.1 Free of payment messages (FoP) ..................................................................... 8
4.1.1.1 Operations between two Participants ........................................................... 8
4.1.1.1.1 Two SWIFT messages required ................................................................. 8
4.1.1.1.2 One SWIFT message is required ............................................................... 9
4.1.1.2 Operations between a Participant and its clients ........................................ 9 4.1.2 Delivery/receive against payment ................................................................... 20 4.1.2.1 Trades on RON denominated securities .................................................... 20
4.1.2.2 DvP operations on non-RON denominated securities ............................. 21 4.1.3 Repo management ............................................................................................ 32
4.1.3.1 Repurchase agreement between two Participants ................................... 32 4.1.3.2 Repurchase agreement with NBR ............................................................... 35
4.1.4 Pledges ................................................................................................................ 63 4.1.4.1 Pledge between two SaFIR’ Participants ................................................... 63
4.1.4.2 Pledge to support settlement of DNS .......................................................... 65 NBR ................................................................................................................................ 65
4.1.5 Initial placement of a new issue ....................................................................... 86 4.1.5.1 Initial placement of new issues for RON denominated securities .......... 86
NBR ................................................................................................................................ 86
4.1.5.2 Initial placement of new issues for non RON denominated securities .. 87 NBR ................................................................................................................................ 87
4.2 Corporate action messages .................................................................... 90 4.3 Statement messages ............................................................................... 94
4.3.1 Request for Statement/Status Advice ............................................................. 94 4.3.2 Settlement status and processing advice ...................................................... 95
4.3.3 Statement of accounts ...................................................................................... 97 4.3.4 Statement of transactions ................................................................................. 99
4.3.5 Statement of pending operations .................................................................. 102
4.3.6 Broadcast messages ....................................................................................... 104
5 Examples .................................................................................................................... 105 5.1 Deliver/Receive against payment - initiation and cancellation .......... 105 5.2 Receive/deliver free of payment - initiation and cancellation ............ 108 5.3 Pledge registration - initiation and cancellation .................................. 110 5.4 Corporate action messages .................................................................. 113
6 Matching criteria ....................................................................................................... 115
7 Validation rules ......................................................................................................... 117
8 Annex 1 ........................................................................................................................ 118 9 Annex 2 ........................................................................................................................ 124
10 Annex 3 ........................................................................................................................ 126
3
4
1 General Information
1.1 SaFIR functions
The Settlement and Financial Instruments Registration (SaFIR) System is designed to
manage financial instruments and provide for following main functions:
a. Maintenance of the primary register;
b. Settlement of transactions involving financial instruments;
c. Payment of the proceeds;
d. Housekeeping functions.
1.2 Participants’ connection to SaFIR
Participants are connected to SaFIR through:
a. SWIFT
b. Network RCI-IPF
Each Participant shall be connected to the SaFIR system through a single point of
entry into the system, preferably its headquarters, such that the connection between
RCI-IPF
Banks
NBR
Securities Houses
TransFonD
SaFIR
SWIFT FIN
Network
SWIFT
Network
Key Workstation
SWIFT Gateway
Networks Overview
5
the Participant and SaFIR is always available during the business day.
The SWIFT Alliance Access Interface provides a means for Participants to enter
securities settlement instructions for transmission via SWIFT to the SaFIR system for
processing. Please note that SWIFT Alliance Entry interfaces could also be used by
smaller users needing less automation.
2 Classification criteria
This edition of the SaFIR – SWIFT user guide provides information on the ISO 15022
securities message standards. The securities message standards discussed are:
a) Settlement and Reconciliation (S&R) messages;
b) Corporate Action (CA) messages;
c) SaFIR Broadcast Message. In order to get a complete and comprehensive view of the SWIFT standards, this
guide should be consulted in conjunction with the document "SWIFT Standards MT
November 2008 – Standards Release Guide" provided by SWIFT.
This Guide defines the relevant aspects to each area of operations performed within
SaFIR, identifies common characteristics of operational flows and establishes
relationships.
Send by Participants to SaFIR SaFIR
Participants
Banks MT540, MT541, MT542, MT543, MT527, MT549, MT910
Brokerage companies
MT540, MT541, MT542, MT543, MT527, MT549, MT910
National Bank of Romania
MT540, MT541, MT542, MT543, MT527, MT549, MT910
Ministry of Public Finance
MT540, MT541, MT542, MT543, MT527, MT549, MT910
Headquarter of credit cooperatives
MT540, MT541, MT542, MT543, MT527, MT549, MT910
DNS Clearing Houses*
MT599
6
Send by SaFIR to Participants SaFIR
Participants
Banks
MT515, MT544, MT545, MT546, MT547, MT548, MT558, MT535, MT536, MT537, MT599, MT564, MT566, MT598
Brokerage companies
MT515, MT544, MT545, MT546, MT547, MT548, MT558, MT535, MT536, MT537, MT599, MT564, MT566, MT598
National Bank of Romania
MT515, MT544, MT545, MT546, MT547, MT548, MT558, MT535, MT536, MT537, MT599, MT564, MT566, MT598
Ministry of Public Finance
MT515, MT544, MT545, MT546, MT547, MT548, MT558, MT535, MT536, MT537, MT599, MT564, MT566, MT598
Headquarter of credit cooperatives
MT515, MT544, MT545, MT546, MT547, MT548, MT558, MT535, MT536, MT537, MT599, MT564, MT566, MT598
DNS Clearing Houses*
MT599
* DNS Clearing House is informed of the value of pledges on request via SWIFT only if they are
connected. Sending / receiving SWIFT authenticated messages Category 5 mentioned above, shall be
made1 in accordance with the SWIFT procedures as valid since trim. 4/2008, after exchanging
SWIFT RMA (Relationship Management Application) authorization between SWIFT
interfaces of SaFIR participants and the system.
SaFIR performs operations initiated by participants in relation to the Issuer (settlement of
primary market results, interest and/or coupon payments, partial/optional/total redemptions)
and operations performed between participants on the secondary market (sale/purchase
operations, pledge contracts, Repo contracts, portfolio transfers).
1 SaFIR participants who have already exchanged SWIFT bilateral authentication keys, does not require exchanging new
RMA authorizations.
7
3 Glossary of terms
Term Definition
Beneficiary of Money
Identifies the party credited with the payment, when payment has been made to an institution different from the Sender and identified as account with institution.
Cash amount & Currency
Currency and the total amount of money paid/to be paid or received/to be received in exchange of the financial instruments.
Message reference number
Reference assigned by the system to unambiguously identify the message
DNS A system that effects the settlement of obligations or transfers between or among counterparties on a net basis at some later time
Exposure type The underlying business area/type of trade causing the exposure. In SaFIR case the underlying business is a secured loan.
Function of the Message
Identifies the function of the message
In/Out indicator Whether the quantity of financial instrument is to be delivered or received.
ISIN code International Securities Identification Number. A unique international code which identifies a securities issue.
Maturity date/time of a repo
The closing date/time or maturity date/time of the repo transaction.
Paying Institution Specifies the party from whose account the payment needs to be done.
Place of settlement Account servicer, respectively the depositor
Preparation Date
Date at which message was prepared
Registration date The date/time the client wishes the pledge instruction to be executed.
Release date The closing date/time of the collateral management transaction
Repo reference Repo Reference common to all the collateral pieces (one or many).
Repurchase amount Total amount to be paid/received on second leg of a repo trade
SSIF Securities companies
8
4 Template messages and operational flow
4.1 Settlement instructions
The following types of operations can be performed by the SaFIR:
Primary market operations.
Secondary market operations
o Sale/purchase operations through Delivery against payment transfer (DvP) or FoP;
o Repo management;
o Pledge management;
o Transfer of portfolio through Free of payment transfer (FoP);
4.1.1 Free of payment messages (FoP) Participants may require a free transfer of portfolio for:
- trades between participants and own clients
- transfer of clients portfolio or of own portfolio
- pledge execution through appropriation
- repo substitution
- margin calls for repo contracts
4.1.1.1 Operations between two Participants
An operation between two SaFIR Participants which doesn’t imply any transfer of
funds in RTGS is settled using FoP messages.
4.1.1.1.1 Two SWIFT messages required
The two messages required are sent by the deliverer participant and by the receiver participant for the following cases:
transfer of client’s portfolio between two SaFIR Participants;
transactions between two SaFIR participants who settles the fund leg through same settlement account in ReGIS system.
9
4.1.1.1.2 One SWIFT message is required
One SWIFT message is required in case of pledge execution trough appropriation
even there are two Participants involved or Participant and its client;
4.1.1.2 Operations between a Participant and its clients
In case of transactions between Participant and its own clients, where securities are
moved between two accounts of the same participant, a single SWIFT message is
required.
The participant will send a receiving (MT540) Swift instruction if it is the beneficiary of
the financial instruments or a delivery (MT542) instruction if it is the supplier of these
financial instruments.
Operational flow for transactions between a participant and its clients is presented in
paragraph 4.1.1.1.2.
Participant
Transaction initiation
Transaction initiation
Transaction confirmation
Cancellation request
Cancellation initiation
Cancellation confirmation
Settlement status query
Query
Status response
Errors validation
Participant
MT542
Data Flow
MT546
Data Flow
MT540
Data Flow
MT544
Data Flow
MT540
Data Flow
MT548
Data Flow
MT542
Data Flow
MT548
Data Flow
MT548
Data Flow
MT548
Data Flow
MT548
Data Flow
MT548
Data Flow
MT549
Data Flow
MT548
Data Flow
MT549
Data Flow
MT548
Data Flow
10
SWIFT templates
Messages processed by the SaFIR are:
Function FIN - SaFIR
Input Output
Instruct the receipt of financial
instruments MT540 MT544
Request a cancellation of a
instruction previously sent MT540 MT548
Instruct the delivery of financial
instruments MT542 MT546
Request a cancellation of a
instruction previously sent MT542 MT548
Request for statement/status
advice* MT549 MT548
* For MT 549/548 templates see paragraph “Settlement status and processing advice”
Participant
Buyer/Seller
Transaction initiation
Transaction initiation
Transaction confirmation
Settlement status query
Query
Status response
Errors validation
MT540/542
Data Flow
MT544/546
Data Flow
Data Flow
Data Flow
MT548
Data Flow
MT548
Data Flow
MT549
Data Flow
MT548
Data Flow
11
MT540
This message is sent to SaFIR by the Participant who receives financial instruments in
order to initiate a free of payment transfer or request the cancellation of a previously
sent instruction.
Tag Qualifier Format Other
values Comment M/O Note
:16R: GENL M 1
:20C: :SEME// 16x M
:23G: NEWM CANC M 2
:16R: LINK
:20C: :PREV// 16x :COMM// C 3
:16S: LINK
:16S: GENL M
:16R: TRADDET M
:98a: :SETT// Option A: SETT//8!n
(date) M
4
Option C:
SETT//8!n6!n
(date)(time)
:98A: :TRAD// 8!n S
:90A: :DEAL//YIEL 15d S 5
:35B: ISIN1!e12!c
[4*35x] M 6
:16S: TRADDET M
:16R: FIAC M
:36B: :SETT//FAMT 15d Quantity expressed
as the face amount M
:97a: :SAFE// 35x
Option A:
:SAFE//35x M 7
Option B:
:SAFE//MARG/35x
:16S: FIAC M
:16R: SETDET M
:22F: :SETR// PORT M 8
TRAD M 9
REAL M 10
:22F: STCO//FRCL
Although this is a
free of payment
transfer, a payment
instruction will be
sent.
C 11
:16R: SETPRTY M
:95a: :DEAG// 4!a2!a2!c Opţiune M 12
12
Tag Qualifier Format Other
values Comment M/O Note
P:DEAG//4!a2!a2!c
Opţiune Q:
DEAG//4*35x
:16S: SETPRTY M
:16R: SETPRTY S
:95P: :PSET// 4!a2!a2!c
BIC of depository
system where
settlement takes
place
S
:16S: SETPRTY S
:16R: SETPRTY S/O 13
:95R: SELL// 8c/34x
Participant’s account
number in the
system of the
depository where
settlement takes
place
S
:16S: SETPRTY S
:16R: SETPRTY S 14
:95P: :REAG// 4!a2!a2!c S
:16S: SETPRTY S
:16R: SETPRTY O
:95a: :SELL// Option P:
SELL//4!a2!a2!c O
15
Option Q:
SELL//4*35x
:16S: SETPRTY O
:16R: AMT S 16
:19A: :SETT// [N]3!a15d S
:16S: AMT S
:16S: SETDET M
1. The fields described in this template could be mandatory for SWIFT (M), optional
for SWIFT but mandatory for SaFIR (S), conditional (C) when their presence
depending on the presence of the other fields and optional (O).
2. Function CANC is used to request the cancellation of an instruction previously sent
(the function of the message is CANC). In this case all fields marked with “O” indicator
in red color are optional.
3. Block „LINK” is conditioned by the message function or by the type of operation.
This block is present when the Function of Message is CANC (with field :20C::PREV//)
or in a Repo margin operation (with the field :20C::COMM//). In the second case, the
13
value of COMM is the SaFIR reference number.
Exceptions are transactions concluded on the basis of the Global Master Repurchase
Agreement (GMRA) Protocol for reverse sale-purchase transactions in government
securities – GMRA (Repo-MRA operation) developed by ACI-Romania, where the
block "LINK" will not be used.
4. If the parties agreed a cut off time until the instruction has to be settled, the format
of the settlement date is Option C. Otherwise, the system try to settle the instruction
until the cut off time of the FoP service.
5. Price is mandatory for SaFIR, excepting the transfer of clients' portfolio and the
margin operation.
6. ISIN code is mandatory, its description is optional.
7. Option B is used only in case of a Repo margin operation.
8. :22F::SETR//PORT is mentioned in the case of the transfer of portfolio.
9. :22F::SETR//TRAD is mentioned when note 8 is not applicable.
10. :22F::SETR//REAL is used when reconstitued SaFIR system positions as a result
of transactions settled in other systems’ depositories.
11. If (9) is applicable then STCO indicator (Settlement Transaction Condition)
becomes mandatory.
12. Q option is used related to transfers to S.C. Depozitarul Central S.A..
13. This indicator is used only for the transfer of financial instruments from another
central depository system and contains the account number of the participant in the
central depository system where settlement takes place.
14. Will be used only in contingency situation. Here is BIC code of the Participant in a
contingency situation.
15. In option P, the seller is identified by the BIC code. If the BIC code is not available,
option Q should be used (name and address).
16. Mandatory when (9) is applicable.
14
MT542
This message is sent to SaFIR by the Participant who delivers financial instruments in
order to initiate a free of payment transfer or request the cancellation of a a previously
sent instruction.
Tag Qualifier Format Other
values Comment M/O Note
:16R: GENL M 1
:20C: :SEME// 16x M
:23G: NEWM CANC M 2
:16R: LINK
:20C: :PREV// 16x :COMM// C 3
:16S: LINK
:16S: GENL M
:16R: TRADDET M
:98a: :SETT// Option A: SETT//8!n
(date) M
4
Option C:
SETT//8!n6!n
(date)(time)
:98A: :TRAD// 8!n S
:90A: :DEAL//YIEL 15d S 5
:35B: ISIN1!e12!c
[4*35x] M 6
:16S: TRADDET M
:16R: FIAC M
:36B: :SETT//FAMT 15d Quantity expressed as
the face amount M
:97a: :SAFE// 35x
Option A: :SAFE//35x
M 7 Option B:
:SAFE//MARG/35x
:16S: FIAC M
:16R: SETDET M
:22F: :SETR// PORT M 8
TRAD M 9
REAL M 10
:22F: STCO//FRCL
Although this is a free
of payment transfer, a
payment instruction
will be sent.
C 11
:16R: SETPRTY M
:95a: :REAG// 4!a2!a2!c
Option
P:DEAG//4!a2!a2!c M 12
Option Q:
15
Tag Qualifier Format Other
values Comment M/O Note
DEAG//4*35x
:16S: SETPRTY M
:16R: SETPRTY S
:95P: :PSET// 4!a2!a2!c
BIC of depository
system where
settlement takes place
S
:16S: SETPRTY S
:16R: SETPRTY S/O 13
:95R: BUYR// 8c/34x
Participant’s account
number in the system
of the depository
where settlement takes
place
S
:16S: SETPRTY S
:16R: SETPRTY S 14
:95P: :DEAG// 4!a2!a2!c S
:16S: SETPRTY S
:16R: SETPRTY O
:95a: :BUYR// Option R:
BUYR//8c/34x S 14
Option P:
BUYR//4!a2!a2!c O
15
Option Q:
BUYR//4*35x
:16S: SETPRTY O
:16R: AMT S 16
:19A: :SETT// [N]3!a15d S
:16S: AMT S
:16S: SETDET M
1. The fields described in this template could be mandatory for SWIFT (M), optional
for SWIFT but mandatory for SaFIR (S), conditional (C) when their presence
depending on the presence of the other fields and optional (O).
2. Function CANC is used to request the cancellation of an instruction previously sent
(the function of the message is CANC). In this case all fields marked with “O” indicator
in red color are optional.
3. Block „LINK” is conditioned by the message function or by the type of operation.
This block is present when the Function of Message is CANC (with field :20C::PREV//)
or in a Repo margin operation (with the field :20C::COMM//). In the second case, the
value of COMM is the SaFIR reference number.
Exceptions are transactions concluded on the basis of the Global Master Repurchase
16
Agreement (GMRA) Protocol for reverse sale-purchase transactions in government
securities – GMRA (Repo-MRA operation) developed by ACI-Romania, where the
block "LINK" will not be used.
4. If the parties agreed a cut off time until the instruction has to be settled, the format
of the settlement date is Option C. Otherwise, the system try to settle the instruction
until the cut off time of the FoP service.
5. Price is mandatory for SaFIR, excepting the transfer of clients' portfolio and the
margin operation.
6. ISIN code is mandatory, its description is optional.
7. Option B is used only in case of a Repo margin operation.
8. :22F::SETR//PORT is mentioned in the case of the transfer of portfolio.
9. :22F::SETR//TRAD is mentioned when note 8 is not applicable.
10. :22F::SETR//REAL is used when reconstitued SaFIR system positions as a result
of transactions settled in other systems’ depositories.
11. If (9) is applicable then STCO indicator (Settlement Transaction Condition)
becomes mandatory.
12. Q option is used related to transfers to S.C. Depozitarul Central S.A..
13. This indicator is used only for the transfer of financial instruments from another
central depository system and contains the account number of the participant in the
central depository system where settlement takes place.
14. Will be used only in contingency situation. Here is BIC code of the Participant in a
contingency situation.
15. In option P, the seller is identified by the BIC code. If the BIC code is not available,
option Q should be used (name and address).
16. Mandatory when (9) is applicable.
17
MT544
This message is sent by depositary to Participant to confirm the receipt of financial
instruments free of payment instruction.
Tag Qualifier Format Other
values Comment M/O Note
:16R: GENL M 1
:20C: :SEME// 16x M
:23G: NEWM CANC M 2
:16R: LINK
:20C: :RELA// 16x PREV M 3
:16S: LINK
:16S: GENL M
:16R: TRADDET M
:98C: :ESET// 8!n6!n M
:35B: ISIN1!e12!c
[4*35x] M 4
:16S: TRADDET M
:16R: FIAC M
:36B: :ESTT//FAMT 15d Quantity expressed as the face
amount M
:97a: :SAFE// 35x Option A: :SAFE//35x
M 5 Option B: :SAFE//MARG/35x
:16S: FIAC M
:16R: SETDET M
:22F: :SETR// 4!c M 6
:16R: SETPRTY M
:95 Q: :DEAG// 4!a2!a2!c Opţiune P:DEAG//4!a2!a2!c
M 7 Opţiune Q: DEAG//4*35x
:16S: SETPRTY M
:16R: SETPRTY S
:95P: :PSET// 4!a2!a2!c BIC SaFIR S
:16S: SETPRTY S
:16R: SETPRTY O
:95a: :SELL// Option P: SELL//4!a2!a2!c O 8
Option Q: SELL//4*35x
:16S: SETPRTY O
:16R: AMT S 9
:19A: :ESTT// [N]3!a15d S
:16S: AMT S
:16S: SETDET M
1. The fields described in this template are either mandatory for SWIFT (M), or
18
optional for SWIFT but mandatory for SaFIR (S) or optional for both of them (O).
2. Function CANC is used to request the cancellation of an instruction previously sent
(the function of the message is CANC).
3. When the Function of Message is CANC, block “LINK” indicator must be
:20C::PREV//. Otherwise, this block will have indicator :20C::RELA//.
Exceptions are transactions concluded on the basis of the Global Master Repurchase
Agreement (GMRA) Protocol for reverse sale-purchase transactions in government
securities – GMRA (Repo-MRA operation) developed by ACI-Romania, where the
block "LINK" will not be used.
4. ISIN code is mandatory, description is optional.
5. The option (A or B) should be the same like that in the original instruction MT540;
6. The indicator should be the same like that in the original instruction MT540;
7. Q option is used related to transfers to S.C. Depozitarul Central S.A..
8. In option P, the seller is identified by the BIC code. If the BIC is not available, option
Q should be used (name and address).
9. This block is used only in case of pledge execution.
MT546
This message is sent by depositary to Participant to confirm the delivery of financial
instruments free of payment instruction.
Tag Qualifier Format Other
values Comment M/O Note
:16R: GENL M 1
:20C: :SEME// 16x M
:23G: NEWM CANC M 2
:16R: LINK
:20C: :RELA// 16x PREV M 3
:16S: LINK
:16S: GENL M
:16R: TRADDET M
:98C: :ESET// 8!n6!n M
:35B: ISIN1!e12!c
[4*35x] M 4
:16S: TRADDET M
19
Tag Qualifier Format Other
values Comment M/O Note
:16R: FIAC M
:36B: :ESTT//FAMT 15d Quantity expressed as the face
amount M
:97a: :SAFE// 35x Option A: :SAFE//35x
M 5 Option B: :SAFE//MARG/35x
:16S: FIAC M
:16R: SETDET M
:22F: :SETR// 4!c M 6
:16R: SETPRTY M
:95 Q: :REAG// 4!a2!a2!c Opţiune P: REAG//4!a2!a2!c
M 7 Opţiune Q: REAG//4*35x
:16S: SETPRTY M
:16R: SETPRTY S
:95P: :PSET// 4!a2!a2!c BIC SaFIR S
:16S: SETPRTY S
:16R: SETPRTY O
:95a: :BUYR// Option P: BUYR//4!a2!a2!c O 8
Option Q: BUYR//4*35x
:16S: SETPRTY O
:16R: AMT S 9
:19A: :ESTT// [N]3!a15d S
:16S: AMT S
:16S: SETDET M
1. The fields described in this template are either mandatory for SWIFT (M), or
optional for SWIFT but mandatory for SaFIR (S) or optional for both of them (O).
2. Function CANC is used to request the cancellation of an instruction previously sent
(the function of the message is CANC).
3. When the Function of Message is CANC, block “LINK” indicator must be
:20C::PREV//. Otherwise, this block will have indicator :20C::RELA//.
Exceptions are transactions concluded on the basis of the Global Master Repurchase
Agreement (GMRA) Protocol for reverse sale-purchase transactions in government
securities – GMRA (Repo-MRA operation) developed by ACI-Romania, where the
block "LINK" will not be used.
4. ISIN code is mandatory, description is optional.
5. The option (A or B) should be the same like that in the original instruction MT542;
6. The indicator should be the same like that in the original instruction MT542;
7. Q option is used related to transfers to S.C. Depozitarul Central S.A..
20
8. In option P, the buyer is identified by the BIC code. If the BIC is not available, option
Q should be used (name and address).
9. This block is used only in case of pledge execution.
4.1.2 Delivery/receive against payment
According to CPSS “Committee on Payment and Settlement Systems” the system
fulfills the DvP principle as follows: the delivery of securities will take place only if the
money transfer is possible and take place, ensuring that both the settlement of funds
and of financial instruments occurs.
4.1.2.1 Trades on RON denominated securities
Operational flow for DvP operations on RON denominated securities:
Buyer
Transaction initiation
DvPTransaction initiation
Transaction confirmation
Cancellation request
Cancellation initiation
Cancellation confirmation
Settlement status query
Query
Status response
Errors validation
Seller
MT541
Data Flow
MT545
Data Flow
MT543
Data Flow
MT547
Data Flow
MT543
Data Flow
MT548
Data Flow
MT541
Data Flow
MT548
Data Flow
MT548
Data Flow
MT548
Data Flow
MT548
Data Flow
MT548
Data Flow
MT549
Data Flow
MT548
Data Flow
MT549
Data Flow
MT548
Data Flow
21
4.1.2.2 DvP operations on non-RON denominated securities
The DvP principle is fulfilled also for non-RON denominated securities, although with a
different time lag.
Funds settlement is carried out through corresponding bank of the Participants and
the process usually takes several days but no later then the end of working day on
which the fund settlement confirmation is received from the correspondent bank, or no
later then the cut-off time (ADEL) specified on SWIFT instruction
Operational flow for deliver/receive against payment on non-RON denominated
securities:
MT548
Data Flow
MT548
Data Flow
MT548
Data Flow
MT548
Data Flow
Buyer
MT541
Data Flow
MT548
Data Flow
Seller
MT543
Data Flow
MT548
Data Flow
Settlement day T - 2
Transaction initiation
Transaction initiationDvP
Matching of instructions
Reservation confirmation
Settlement day T
Funds transfer confirmation
Transaction confirmation
Cancellation request
Query
Status response
Settlement status query
Query
Status response
Errors validation
MT543
Data Flow
MT548
Data Flow
MT541
Data Flow
MT548
Data Flow
MT549
Data Flow
MT548
Data Flow
MT549
Data Flow
MT548
Data Flow
Data Flow
MT545
Data Flow
MT547
Data Flow
MT910
22
SWIFT templates
Messages processed by the SaFIR are:
Function FIN - SaFIR
Input Output
Instruct the receipt of government securities MT541 MT545
Request a cancellation of a instruction previously
sent MT541 MT548
Instruct the delivery of government securities MT543 MT547
Fund settlement confirmation MT910
Request a cancellation of a instruction previously
sent MT543 MT548
Provide the transaction reference number in case
of nonRON trades - 548
Request for statement/status advice MT549 MT548
* For MT 549/548 templates see paragraph “Settlement status and processing advice”
MT541
This message is sent by a Participant to depositor to instruct the receipt of financial
instruments against payment instruction or request the cancellation of a receive
against payment instruction previously sent by the Participant
Tag Qualifier Format Other
values Comment M/O Note
:16R: GENL M 1
:20C: :SEME// 16x M
:23G: NEWM CANC M 2
:16R: LINK
:20C: :PREV// 16x C 3
:16S: LINK
:16S: GENL M
:16R: TRADDET M
:98a: :SETT// Option A: SETT//8!n (date) M
4
Option C: SETT//8!n6!n
(date)(time)
23
Tag Qualifier Format Other
values Comment M/O Note
:98a: :ADEL// Option A: ADEL//8!n (date) -/M
5
Option C: ADEL//8!n6!n
(date)(time)
:98A: :TRAD// 8!n S
:90A: :DEAL//YIEL 15d S
:35B: ISIN1!e12!c
[4*35x] M 6
:16S: TRADDET M
:16R: FIAC M
:36B: :SETT//FAMT 15d Quantity expressed as the face
amount M
:97A: :SAFE// 35x Securities account (house or
omnibus account) M
:16S: FIAC M
:16R: SETDET M
:22F: :SETR//TRAD M
:16R: SETPRTY M
:95P: :DEAG// 4!a2!a2!c M
:16S: SETPRTY M
:16R: SETPRTY S
:95P: :PSET// 4!a2!a2!c BIC SaFIR S
:16S: SETPRTY S
:16R: SETPRTY S 7
:95P: :REAG// 4!a2!a2!c S
:16S: SETPRTY S
:16R: SETPRTY O
:95a: :SELL// Option P: SELL//4!a2!a2!c O 8
Option Q: SELL//4*35x
:16S: SETPRTY O
:16R: CSHPRTY S 9
:95P: :ACCW//
4!a2!a2!c
For RON
4!a2!a2!c3!c
for EUR
BIC ReGIS for RON
BIC TARGET2- Romania for
EUR
S
:16S: CSHPRTY S
:16R: CSHPRTY S 10
:95P: :PAYE//
4!a2!a2!c
For RON
4!a2!a2!c3!c
for EUR
BIC code of buyer’s funds
settlement bank S
:16S: CSHPRTY S
24
Tag Qualifier Format Other
values Comment M/O Note
:16R: AMT M
:19A: :SETT// [N]3!a15d M
:16S: AMT M
:16S: SETDET M
1. The fields described in this template could be mandatory for SWIFT (M), optional
for SWIFT but mandatory for SaFIR (S), conditional (C) when their presence
depending on the presence of the other fields and optional (O) for both SWIFT and
system.
2. Function CANC is used to request the cancellation of an instruction previously sent
(the function of the message is CANC). In this case all fields marked with “O” indicator
in red color are optional.
3. The block „LINK” is present when the Function of Message is CANC (with the field
:20C::PREV//).
4. If the parties agreed a cut off time until the instruction has to be settled, the format
of the settlement date is Option C. Otherwise, the system try to settle the instruction
until the cut off time of the DvP service.
5. This option is not allowed for EUR- and RON-settled operations; it becomes
mandatory only for transactions with financial instruments denominated in other
currencies.
6. ISIN code is mandatory, description is optional.
7. Will be used only in contingency situation. Here is BIC code of the Participant in a
contingency situation.
8. In option P, the buyer is identified by the BIC code. If the BIC is not available, option
Q should be used (name and address).
9. This block is mandatory for EUR-settled operations while for RON-settled
operations this block is mandatory only if the buyer is a securities company. For all
other cases, this block is optional.
10. If (9) is applicable, then (10) is mandatory.
MT543
This message is sent by a Participant to depositary to instruct the delivery of financial
instruments against payment or request the cancellation of a delivery against payment
25
instruction previously sent by the Participant
Tag Qualifier Format Other
values Comment M/O Note
:16R: GENL M 1
:20C: :SEME// 16x M
:23G: NEWM CANC M 2
:16R: LINK
:20C: :PREV// 16x C 3
:16S: LINK
:16S: GENL M
:16R: TRADDET M
:98a: :SETT// Option A: SETT//8!n (date) M
4
Option C: SETT//8!n6!n
(date)(time)
:98a: :ADEL// Option A: ADEL//8!n (date) -/M
5
Option C: ADEL//8!n6!n
(date)(time)
:98A: :TRAD// 8!n S
:90A: :DEAL//YIEL 15d S
:35B: ISIN1!e12!c
[4*35x] M 6
:16S: TRADDET M
:16R: FIAC M
:36B: :SETT//FAMT 15d Quantity expressed as the face
amount M
:97A: :SAFE// 35x Securities account (house or
omnibus account) M
:16S: FIAC M
:16R: SETDET M
:22F: :SETR//TRAD M
:16R: SETPRTY M
:95P: :REAG// 4!a2!a2!c M
:16S: SETPRTY M
:16R: SETPRTY S
:95P: :PSET// 4!a2!a2!c BIC SaFIR S
:16S: SETPRTY S
:16R: SETPRTY S 7
:95P: :DEAG// 4!a2!a2!c S
:16S: SETPRTY S
:16R: SETPRTY O
:95a: :BUYR// Option P: BUYR//4!a2!a2!c O 8
Option Q: BUYR//4*35x
:16S: SETPRTY O
:16R: CSHPRTY S 9
26
Tag Qualifier Format Other
values Comment M/O Note
:95P: :ACCW//
4!a2!a2!c
4!a2!a2!c 3!c
for EUR
BIC ReGIS for RON
BIC TARGET2- Romania for
EUR
S
:16S: CSHPRTY S
:16R: CSHPRTY S 10
:95P: :BENM//
4!a2!a2!c
For RON
4!a2!a2!c3!c
for EUR
BIC code of seller’s funds
settlement bank S
:16S: CSHPRTY S
:16R: AMT M
:19A: :SETT// [N]3!a15d M
:16S: AMT M
:16S: SETDET M
1. The fields described in this template could be mandatory for SWIFT (M), optional
for SWIFT but mandatory for SaFIR (S), conditional (C) when their presence
depending on the presence of the other fields and optional (O) for both SWIFT and
system.
2. Function CANC is used to request the cancellation of an instruction previously sent
(the function of the message is CANC). In this case all fields marked with “O” indicator
in red color are optional.
3. The block „LINK” is present when the Function of Message is CANC (with the field
:20C::PREV//)
4. If the parties agreed a cut off time until the instruction has to be settled, the format
of the settlement date is Option C. Otherwise, the system try to settle the instruction
until the cut off time of the DvP service.
5. This option is not allowed for EUR- and RON-settled operations; it becomes
mandatory only for transactions with financial instruments denominated in other
currencies.
6. ISIN code is mandatory, description is optional.
7. Will be used only in contingency situation. Here is BIC code of the Participant in a
contingency situation.
8. In option P, the buyer is identified by the BIC code. If the BIC is not available, option
27
Q should be used (name and address).
9. This block is mandatory for EUR-settled operations while for RON-settled
operations this block is mandatory only if the buyer is a securities company. For all
other cases, this block is optional.
10. If (9) is applicable, then (10) is mandatory.
MT545
This message is sent by the depository to the Participant to confirm the receipt of
financial instruments against payment instruction.
Tag Qualifier Format Other
values Comment M/O Note
:16R: GENL M 1
:20C: :SEME// 16x M
:23G: NEWM CANC M 2
:16R: LINK
:20C: :RELA// 16x PREV M 3
:16S: LINK
:16S: GENL M
:16R: TRADDET M
:98C: :ESET// 8!n6!n M
:35B: ISIN1!e12!c
[4*35x] M 4
:16S: TRADDET M
:16R: FIAC M
:36B: :ESTT//FAMT 15d Quantity expressed as the face
amount M
:97A: :SAFE// 35x Securities account (house or
omnibus account) M
:16S: FIAC M
:16R: SETDET M
:22F: :SETR// 4!c M 5
28
Tag Qualifier Format Other
values Comment M/O Note
:16R: SETPRTY M
:95P: :DEAG// 4!a2!a2!c M
:16S: SETPRTY M
:16R: SETPRTY S
:95P: :PSET// 4!a2!a2!c BIC SaFIR S
:16S: SETPRTY S
:16R: SETPRTY O
:95a: :SELL// Option P: SELL//4!a2!a2!c O 6
Option Q: SELL//4*35x
:16S: SETPRTY O
:16R: CSHPRTY S 7
:95P: :ACCW//
4!a2!a2!c
For RON
4!a2!a2!c3!c
for EUR
BIC ReGIS for RON
BIC TARGET2- Romania for
EUR
S
:16S: CSHPRTY S
:16R: CSHPRTY S 8
:95P: :PAYE//
4!a2!a2!c
For RON
4!a2!a2!c3!c
for EUR
BIC code of buyer’s funds
settlement bank S
:16S: CSHPRTY S
:16R: AMT M
:19A: :ESTT// [N]3!a15d M
:16S: AMT M
:16S: SETDET M
1. The fields described in this template are either mandatory for SWIFT (M), or
optional for SWIFT but mandatory for SaFIR (S) or optional for both of them (O).
2. Function CANC is used to request the cancellation of an instruction previously sent
(the function of the message is CANC).
3. When the Function of Message is CANC indicator must be :20::PREV//. Otherwise
the indicator is :20C::RELA//.
4. ISIN code is mandatory, description is optional.
5. The indicator should be the same like in the original instruction MT541.
6. In option P, the seller is identified by the BIC code. If the BIC is not available, option
Q should be used (name and address).
7. This block is mandatory for EUR-settled operations while for RON-settled
29
operations this block is mandatory only if the buyer is a securities company.
8. If (7) is applicable, then this block is mandatory.
MT547
This message is sent by the depository to the Participant to confirm the delivery of
financial instruments against payment instruction.
Tag Qualifier Format Other
values Comment M/O Note
:16R: GENL M 1
:20C: :SEME// 16x M
:23G: NEWM CANC M 2
:16R: LINK
:20C: :RELA// 16x PREV M 3
:16S: LINK
:16S: GENL M
:16R: TRADDET M
:98C: :ESET// 8!n6!n M
:35B: ISIN1!e12!c
[4*35x] M 4
:16S: TRADDET M
:16R: FIAC M
:36B: :ESTT//FAMT 15d Quantity expressed as the face
amount M
:97A: :SAFE// 35x Securities account (house or
omnibus account) M
:16S: FIAC M
:16R: SETDET M
:22F: :SETR// 4!c M 5
:16R: SETPRTY M
:95P: :REAG// 4!a2!a2!c M
:16S: SETPRTY M
:16R: SETPRTY S
:95P: :PSET// 4!a2!a2!c BIC SaFIR S
:16S: SETPRTY S
:16R: SETPRTY O
:95a: :BUYR// Option P: BUYR//4!a2!a2!c O 6
Option Q: BUYR//4*35x
:16S: SETPRTY O
:16R: CSHPRTY S 7
30
Tag Qualifier Format Other
values Comment M/O Note
:95P: :ACCW//
4!a2!a2!c
for RON
4!a2!a2!c3!c
for EUR
BIC ReGIS for RON
BIC TARGET2- Romania for
EUR
S
:16S: CSHPRTY S
:16R: CSHPRTY S 8
:95P: :BENM//
4!a2!a2!c
For RON
4!a2!a2!c3!c
for EUR
BIC code of seller’s funds
settlement bank S
:16S: CSHPRTY S
:16R: AMT M
:19A: :ESTT// [N]3!a15d M
:16S: AMT M
:16S: SETDET M
1. The fields described in this template are either mandatory for SWIFT (M), or
optional for SWIFT but mandatory for SaFIR (S) or optional for both of them (O).
2. Function CANC is used to request the cancellation of an instruction previously sent
(the function of the message is CANC).
3. When the Function of Message is CANC indicator must be :20::PREV//. Otherwise
the indicator is :20C::RELA//.
4. ISIN code is mandatory, description is optional.
5. The indicator should be the same like in the original instruction MT543.
6. In option P, the buyer is identified by the BIC code. If the BIC is not available, option
Q should be used (name and address).
7. This block is mandatory for EUR-settled operations while for RON-settled
operations this block is mandatory only if the buyer is a securities company.
8. If (7) is applicable, then (8) is mandatory
MT548
This message is sent by SaFIR system to the settlement bank to confirm the payment
receipt.
31
Tag Qualifier Format Other
values Comment M/O Note
:16R: GENL M 1
:20C: :SEME// 16x Message reference provided
by sender M
:23G: INST 4!c Status of the instruction M
:16R: LINK
:20C: :RELA// 16x
Number provided by the
system to the transaction
whose funds are about to be
settled
M
:16S: LINK
:16R: STAT M
:25D: :IPRC//PACK 16x
Status of the instruction /
Instruction has been
received by the account
manager
M
:16S: STAT M
:16S: GENL
M
:16R: SETTRAN
M
:35B: ISIN1!e12!c
[4*35x] Securities ISIN M 2
:36B: :SETT//FAMT 15d Value of transaction
expressed as nominal value M
:19A: :SETT//RON 15d Settlement amount in Ron S 3
:97A: :SAFE// 35x
Account symbol where the
financial instruments are
deposited
M
:22F: :SETR//TRAD 4!c Settlement / transaction
type M
:22H: :REDE//DELI 4!c Instruments are delivered
from SAFE account M
:22H: :PAYM//APMT 4!c DvP type delivery M
:98A: :SETT// 8!c Settlement date M
:98A: :TRAD// 8!c Transaction date M
:16R: SETPRTY
M
:95P: :DEAG// 4!a2!a2!c BIC – seller bank M
:20C: :PROC// :4!c//16x SWIFT message reference
seller S
:16S: SETPRTY
M
:16R: SETPRTY
M
:95P: :REAG// 4!a2!a2!c BIC – buyer bank M
32
Tag Qualifier Format Other
values Comment M/O Note
:20C: :PROC// :4!c//16x SWIFT message reference
buyer S
:16S: SETPRTY
M
:16S: SETTRAN
M
1. The fields described in this template are either mandatory for SWIFT validation (M),
or optional for SWIFT validation but mandatory for SaFIR validation (S), conditional
(C) when their presence depends on the presence of other fields and optional (O) for
all situations.
2. ISIN code is mandatory, its description being optional.
3. Ron settlement amount.
MT 910
Tag Content Explications M/O
:20: 16x Transaction Reference Number M
:21: 16x Related Reference M
:25: 35x Account Identification (cash account) M
:32A: 6!n3!a15d This field specifies the value date, currency code
and amount of the credit M
:52A:
4!a2!a2!c This field identifies the financial institution which
originated the transaction resulting in this credit C
:56A 4!a2!a2!c
This field indicates the BIC code of the participant
which has to confirm the payment.
It is a mandatory field for contingency situations. O
According with SWIFT Network Validated Rules either field 50a or field 52a must be
present, but not both.
4.1.3 Repo management
4.1.3.1 Repurchase agreement between two Participants
Repo is a sale and repurchase agreement between two Participants and it is
composed by two DvP operations linked together. The second DvP operations
(second leg) is automatically started by SaFIR on a specific time or date on the basis
of the previously stored data.
33
Excepting intraday Repo, a substitution function is available if it has been agreed in
the contract by the parties.
The Repo substitution will be carried out by four free of payment transfer instructions
of the new securities in exchange for the purchased securities to be replaced (a FoP
operation contingent to the other one).
The initial buyer sends a MT542 (Deliver Free) in order to return the purchased
securities and a MT540 (Receive Free).
The initial seller sends a MT542 (Deliver Free) in order to transfer the new securities
and a MT540 (Receive Free) in order to receive the purchased securities.
For long term repo, if the value of collateral decreases or increases, the participant
exposed as result of this price variation will call for a margin. If the margin agreed is a
bond (not cash), than a new FoP messages are sent. Template for this message is
described in the FoP transfer section.
In case of repo operations between a SaFIR participant who is a primary dealer, and
brokerage companies (SSIF) who settles the fund leg through the settlement account
of the primary dealer, DvP messages (MT 541 and MT 543) will be replaced by FoP
messages (MT 540 and MT 542)
Operational flow for repo trades between two SaFIR participants:
34
Repo
Buyer
Repo
Seller
MT546
Data Flow
MT540
Data Flow
First leg settlement
Transaction initiation
DvPTransaction initiation
Transaction confirmation
Cancellation request
Cancellation initiation
Cancellation confirmation
Substitution initiation
Old securities (first FoP) transfer
New securities (second FoP) transfer
Transfer 1 confirmation
Transfer 2 confirmation
Margin call
Second leg settlement
Automatic DvPtransfer
Transaction confirmation
Settlement status query
Ouery
Status response
Errors validation
MT541
Data Flow
MT545
Data Flow
MT543
Data Flow
MT547
Data Flow
MT543
Data Flow
MT548
Data Flow
MT541
Data Flow
MT548
Data Flow
MT548
Data Flow
MT548
Data Flow
MT548
Data Flow
MT548
Data Flow
MT549
Data Flow
MT548
Data Flow
MT549
Data Flow
MT548
Data Flow
MT542
Data Flow
MT544
Data Flow
MT542
Data Flow
MT540
Data Flow
MT546
Data Flow
MT545
Data Flow
MT547
Data Flow
MT542
Data Flow
MT544
MT540
35
4.1.3.2 Repurchase agreement with NBR
For intra day repo with NBR only one message is needed, from the Participant and
matching is not required because the system will manage the control criteria process
(eligible securities, amount, etc). After successful validation, a DvP transaction is
immediately started.
If there are not enough securities to be blocked, the operation is immediately rejected.
Operational flow for repo trades between a participant and NBR:
Note: in case that the participant is the buyer of securities, it will send an MT 541 and
the flow will be updated accordingly.
Seller
First leg
Transaction initiation Transaction initiation
Transaction confirmation
Second Leg Automatic transfer
Transaction confirmation
MT543
MT547
MT548
MT545
NBR
MT545
MT547
36
SWIFT Templates
Messages processed by the SaFIR are:
Function FIN - SaFIR
Input Output
Instruct the receipt of government securities (first leg of a Repo) MT541 MT545
Request a cancellation of a instruction previously sent (first leg
of a Repo) MT541 MT548
Instruct the delivery of government securities (first leg of a
Repo) MT543 MT547
Request a cancellation of a instruction previously sent (first leg
of a Repo) MT543 MT548
Instruct the receipt of government securities (Repo substitution) MT540 MT544
Request a cancellation of a instruction previously sent (Repo
substitution) MT540 MT548
Provide the transaction reference number in case of nonRON
trades - 548
Instruct the delivery of government securities (Repo
substitution) MT542 MT546
Request a cancellation of a instruction previously sent (Repo
substitution) MT542 MT548
Margin Call - Instruct the receipt of government securities MT540 MT548
Request to cancel a margin call instruction MT540 MT548
Margin Call - Instruct the delivery of government securities MT542 MT548
Request to cancel a margin call instruction MT542 MT548
Request for statement/status advice* MT549 MT548
Receive against payment confirmation (second leg of a Repo) - MT545
Deliver against payment confirmation (second leg of a Repo) - MT547
Provide the transaction reference number (second leg of a
Repo) in case of nonRON trades - 548
37
MT541- repo MRA and SBB operations
Tag Qualifier Format Other
values Comment M/O Note
:16R: GENL M 1
:20C: :SEME// 16x M
:23G: NEWM CANC M 2
:16R: LINK
:20C: :PREV// 16x C 3
:16S: LINK
:16S: GENL M
:16R: TRADDET M
:98a: :ADEL// Option A: ADEL//8!n (date) -/M
4
Option C: ADEL//8!n6!n
(date)(time)
:98a: :SETT// Option A: SETT//8!n (date) M
5
Option C: SETT//8!n6!n
(date)(time)
:98A: :TRAD// 8!n S
:90A: :DEAL//YIEL 15d Repo rate S
:35B: ISIN1!e12!c
[4*35x] M 6
:22F: :PROC//CLOP O 7
:25D: :AFFM// AFFI -/M 8
NAFI -/M
:70E: :SPRO// 10*35x MRA O 9
:16S: TRADDET M
:16R: FIAC M
:36B: :SETT//FAMT 15d Quantity expressed as the
face amount M
:97A: :SAFE// 35x Securities account (house or
omnibus account) M
:16S: FIAC M
:16R: REPO M
:98a: :TERM// Option A: TERM//8!n (date) S
10
Option C: TERM//8!n6!n
(date)(time)
:20C: :REPO // 16x S 11
:19A: :REPA // [N]3!a15d S
:70C: :REPO// 8!n Date format O 12
:16S: REPO M
38
Tag Qualifier Format Other
values Comment M/O Note
:16R: SETDET M
:22F: :SETR// REPU M 13
SBBK 14
:22F: :REPT// CALL S 15
:16R: SETPRTY M
:95P: :DEAG// 4!a2!a2!c M
:16S: SETPRTY M
:16R: SETPRTY S
:95P: :PSET// 4!a2!a2!c BIC SaFIR S
:16S: SETPRTY S
:16R: SETPRTY S 16
:95P: :REAG// 4!a2!a2!c S
:16S: SETPRTY S
:16R: SETPRTY O
:95a: :SELL// Option P: SELL//4!a2!a2!c O 17
Option Q: SELL//4*35x
:16S: SETPRTY O
:16R: CSHPRTY S 18
:95P: :ACCW//
4!a2!a2!c
for RON
4!a2!a2!c3!c
for EUR
BIC ReGIS for RON
BIC TARGET2- Romania
for EUR
S
:16S: CSHPRTY S
:16R: CSHPRTY S 19
:95P: :PAYE//
4!a2!a2!c
For RON
4!a2!a2!c3!c
for EUR
BIC code of buyer’s funds
settlement bank S
:16S: CSHPRTY S
:16R: AMT M
:19A: :SETT// [N]3!a15d M
:16S: AMT M
:16S: SETDET M
1. The fields described in this template may contain mandatory information for SWIFT
validation (M), optional for SWIFT validation but mandatory for SaFIR validation (S),
conditional (C) when their presence depends on the presence of other information and
optional (O) for all situations.
2. Function CANC is used to request the cancellation of an instruction previously sent
(the function of the message is CANC). In this case all fields marked with “O” indicator
39
in red color are optional.
3. The block „LINK” is present when the Function of Message is CANC (with the field
:20C::PREV//)
4. This option is not allowed for EUR- and RON-settled operations; it becomes
mandatory only for transactions with financial instruments denominated in other
currencies.
5. If the parties agreed a cut off time until the instruction has to be settled, the format
of the settlement date is Option C. Otherwise, the system try to settle the instruction
until the cut off time of the service.
6. ISIN code is mandatory, its description is optional.
7. Mandatory only for repo MRA protocols second leg cancellation
8. If (7) is applicable this field is not mandatory. Using AFFI field indicates that for
second leg cancellation both participants involved in the protocol will send instructions
requiring matching and NAFI field indicates that second leg cancellation is unilateral.
NAFI field cannot be used for SBB contracts.
9. Optional field but, when it does exist, must be matching criteria. Identifies reverse
sell-buy and sell/buyback operations subject to MRA protocol.
10. If the parties agreed a cut off time until the instruction has to be settled in the
second leg (the closing/maturity date of the Repo), the format of the settlement date is
Option C. Otherwise, the system try to settle the instruction until the cut off time of the
service.
11. Repo agreement reference number – unique identifier assigned by both parties to
a Repo agreement (agreement reference number)
12. Used only for non-Ron Repo agreements (when settlement time lag for second leg
is different from the one in the first leg).
13. REPU is used for identifying Repo operations.
14. SBBK is used for identifying sell/buyback operations.
15. This option is used only in operations for changing the redemption date and/or
price. Its use is not allowed otherwise.
16. Will be used only in contingency situation. Here is BIC code of the Participant in a
contingency situation.
17. In option P, the seller is identified by the BIC code. If the BIC is not available,
option Q should be used (name and address).
40
18. This block is mandatory for EUR-settled operations while for RON-settled
operations this block is mandatory only if the buyer is a securities company. For all
other cases, this block is optional.
19. If (18) is applicable, then this block is mandatory.
MT543 – repo MRA and SBB operations
Tag Qualifier Format Other
values Comment M/O Note
:16R: GENL M 1
:20C: :SEME// 16x M
:23G: NEWM CANC M 2
:16R: LINK
:20C: :PREV// 16x C 3
:16S: LINK
:16S: GENL M
:16R: TRADDET M
:98a: :ADEL// Option A: ADEL//8!n (date) -/M
4
Option C: ADEL//8!n6!n
(date)(time)
:98a: :SETT// Option A: SETT//8!n (date) M
5
Option C: SETT//8!n6!n
(date)(time)
:98A: :TRAD// 8!n S
:90A: :DEAL//YIEL 15d Repo rate S
:35B: ISIN1!e12!c
[4*35x] M 6
:22F: :PROC//CLOP O 7
:25D: :AFFM// AFFI -/M 8
NAFI -/M
:70E: :SPRO// 10*35x MRA O 9
:16S: TRADDET M
:16R: FIAC M
:36B: :SETT//FAMT 15d Quantity expressed as the face
amount M
41
Tag Qualifier Format Other
values Comment M/O Note
:97A: :SAFE// 35x Securities account (house or
omnibus account) M
:16S: FIAC M
:16R: Repo M
:98a: :TERM// Option A: TERM//8!n (date) S 10
Option C: TERM//8!n6!n
(date)(time)
:20C: :REPO // 16x S 11
:19A: :TRTE // [N]3!a15d S
:70C: :SECO// 8!n Date format S 12
:16S: REPO M
:16R: SETDET M
:22F: :SETR// REPU M 13
SBBK M 14
:22F: :REPT// CALL S 15
:16R: SETPRTY M
:95P: :REAG// 4!a2!a2!c M
:16S: SETPRTY M
:16R: SETPRTY S
:95P: :PSET// 4!a2!a2!c BIC SaFIR S
:16S: SETPRTY S
:16R: SETPRTY S 16
:95P: :DEAG// 4!a2!a2!c S
:16S: SETPRTY S
:16R: SETPRTY O
:95a: :SELL// Option P: SELL//4!a2!a2!c O 17
Option Q: SELL//4*35x
:16S: SETPRTY O
:16R: CSHPRTY S 18
:95P: :ACCW//
4!a2!a2!c
for RON
4!a2!a2!c3!c
for EUR
BIC ReGIS for RON
BIC TARGET2- Romania for
EUR
S
:16S: CSHPRTY S
:16R: CSHPRTY S 19
:95P: :PAYE//
4!a2!a2!c
For RON
4!a2!a2!c3!c
for EUR
BIC code of seller’s funds
settlement bank S
:16S: CSHPRTY S
:16R: AMT M
42
Tag Qualifier Format Other
values Comment M/O Note
:19A: :SETT// [N]3!a15d M
:16S: AMT M
:16S: SETDET M
1. The fields described in this template may contain mandatory information for SWIFT
validation (M), optional for SWIFT validation but mandatory for SaFIR validation (S),
conditional (C) when their presence depends on the presence of other information and
optional (O) for all situations.
2. Function CANC is used to request the cancellation of an instruction previously sent
(the function of the message is CANC). In this case all fields marked with “O” indicator
in red color are optional.
3. The block „LINK” is present when the Function of Message is CANC (with the field
:20C::PREV//)
4. This option is not allowed for EUR- and RON-settled operations; it becomes
mandatory only for transactions with financial instruments denominated in other
currencies.
5. If the parties agreed a cut off time until the instruction has to be settled, the format
of the settlement date is Option C. Otherwise (i.e. Option A), the system will try to
settle the instruction until the service cut off time.
6. ISIN code is mandatory, its description is optional.
7. Mandatory only for repo MRA protocols second leg cancellation
8. If (7) is applicable this field is not mandatory. Using AFFI field indicates that for
second leg cancellation both participants involved in the protocol will send instructions
requiring matching and NAFI field indicates that second leg cancellation is unilateral.
NAFI field cannot be used for SBB contracts.
9. Optional field but, when it does exist, must be matching criteria. Identifies reverse
sell-buy and sell/buyback operations subject to MRA protocol.
10. If the parties agreed a cut off time until the instruction has to be settled in the
second leg (the closing/maturity date of the Repo), the format of the settlement date is
Option C. Otherwise, the system try to settle the instruction until the cut off time of the
service.
11. Repo agreement reference number – unique identifier assigned by both parties to
a Repo agreement (agreement reference number)
43
12. Used only for non-Ron Repo agreements (when settlement time lag for second leg
is different from the one in the first leg).
13. REPU is used for identifying Repo operations.
14. SBBK is used for identifying sell/buyback operations.
15. This option is used only in operations for changing the redemption date and/or
price. Its use is not allowed otherwise.
16. Will be used only in contingency situation. Here is BIC code of the Participant in a
contingency situation.
17. In option P, the seller is identified by the BIC code. If the BIC is not available,
option Q should be used (name and address).
18. This block is mandatory for EUR-settled operations while for RON-settled
operations this block is mandatory only if the buyer is a securities company. For all
other cases, this block is optional.
19. If (18) is applicable, then this block is mandatory.
MT 545 This message is sent by the depository to the Participant to confirm the receipt of financial instruments against payment instruction
Tag Qualifier Format Other
values Comment M/O Note
:16R: GENL M 1
:20C: :SEME// 16x M
:23G: NEWM CANC M 2
:16R: LINK
:20C: :RELA// 16x PREV C 3
:16S: LINK
:16S: GENL M
:16R: TRADDET M
:98C: : ESET// 8!n6!n M
:35B: ISIN1!e12!c
[4*35x] M 4
:22F: :PROC//CLOP O 5
:25D: :AFFM// AFFI -/M 6
NAFI -/M
44
Tag Qualifier Format Other
values Comment M/O Note
:70E: :SPRO// 10*35x MRA M 7
:16S: TRADDET M
:16R: FIAC M
:36B: :ESTT//FAMT 15d Quantity expressed as the
face amount M
:97A: :SAFE// 35x Securities account (house or
omnibus account) M
:16S: FIAC M
:16R: REPO M
:98a: :TERM// Option A: TERM//8!n (date) S
-
Option C: TERM//8!n6!n
(date)(time)
:20C: : REPO // 16x S -
:19A: :REPA // [N]3!a15d S
:16S: REPO M
:16R: SETDET M
:22F: :SETR// 4!c M 8
:22F: :REPT// 4!c S 9
:16R: SETPRTY M
:95P: :DEAG// 4!a2!a2!c M
:16S: SETPRTY M
:16R: SETPRTY S
:95P: :PSET// 4!a2!a2!c BIC SaFIR S
:16S: SETPRTY S
:16R: SETPRTY O
:95a: :SELL// Option P: SELL//4!a2!a2!c O 10
Option Q: SELL//4*35x
:16S: SETPRTY O
:16R: CSHPRTY S 11
:95P: :ACCW//
4!a2!a2!c
for RON
4!a2!a2!c3!c
for EUR
BIC ReGIS for RON
BIC TARGET2- Romania
for EUR
S
:16S: CSHPRTY S
:16R: CSHPRTY S 12
:95P: :PAYE//
4!a2!a2!c
for RON
4!a2!a2!c3!c
for EUR
BIC code of buyer’s funds
settlement bank S
:16S: CSHPRTY S
45
Tag Qualifier Format Other
values Comment M/O Note
:16R: AMT M
:19A: :ESTT// [N]3!a15d M
:16S: AMT M
:16S: SETDET M
1. The fields described in this template may contain mandatory information for SWIFT
validation (M), optional for SWIFT validation but mandatory for SaFIR validation (S),
conditional (C) when their presence depends on the presence of other information and
optional (O) for all situations.
2. Function CANC is used to request the cancellation of an instruction previously sent
(the function of the message is CANC).
3. The block „LINK” is present when the Function of Message is CANC (with the field
:20C::PREV//). Otherwise, the indicator is :20C::RELA//.
4. ISIN code is mandatory, description is optional.
5. Mandatory only for repo MRA protocols second leg cancellation
6. Mandatory field if (5) applies. The indicator should be the same as in the original
MT541 instruction.
7. Identifies reverse sell-buy and sell/buyback operations subject to MRA protocol.
8. The indicator should be the same as in the original MT541 instruction.
9. The indicator should be the same as in the original MT541 instruction.
10. If the BIC is not available, option Q should be used (name and address).
11. This block is mandatory for EUR-settled operations while for RON-settled
operations this block is mandatory only if the buyer is a securities company. For all
other cases, this block is optional.
12. If (11) is applicable, then this block is mandatory.
MT 547 This message is sent by the depository to the Participant to confirm the delivery of financial instruments against payment instruction
Tag Qualifier Format Other
values Comment M/O Note
:16R: GENL M 1
46
Tag Qualifier Format Other
values Comment M/O Note
:20C: :SEME// 16x M
:23G: NEWM CANC M 2
:16R: LINK
:20C: :RELA// 16x PREV C 3
:16S: LINK
:16S: GENL M
:16R: TRADDET M
:98C: : ESET// 8!n6!n M
:35B: ISIN1!e12!c
[4*35x] M 4
:22F: :PROC//CLOP O 5
:25D: :AFFM// AFFI -/M 6
NAFI -/M
:70E: :SPRO// 10*35x MRA M 7
:16S: TRADDET M
:16R: FIAC M
:36B: :ESTT//FAMT 15d Quantity expressed as the face
amount M
:97A: :SAFE// 35x Securities account (house or
omnibus account) M
:16S: FIAC M
:16R: REPO M
:98a: :TERM// Option A: TERM//8!n (date) S
-
Option C: TERM//8!n6!n
(date)(time)
:20C: :Repo // 16x S -
:19A: :REPA // [N]3!a15d S
:16S: REPO M
:16R: SETDET M
:22F: :SETR// 4!c M 8
:22F: :REPT// 4!c S 9
:16R: SETPRTY M
:95P: :REAG// 4!a2!a2!c M
:16S: SETPRTY M
:16R: SETPRTY S
:95P: :PSET// 4!a2!a2!c BIC SaFIR S
:16S: SETPRTY S
:16R: SETPRTY O
47
Tag Qualifier Format Other
values Comment M/O Note
:95a: :BUYR// Option P: SELL//4!a2!a2!c O 10
Option Q: SELL//4*35x
:16S: SETPRTY O
:16R: CSHPRTY S 11
:95P: :ACCW//
4!a2!a2!c
for RON
4!a2!a2!c3!c
for EUR
BIC ReGIS for RON
BIC TARGET2- Romania for
EUR
S
:16S: CSHPRTY S
:16R: CSHPRTY S 12
:95P: :BENM//
4!a2!a2!c
for RON
4!a2!a2!c3!c
for EUR
BIC code of buyer’s funds
settlement bank S
:16S: CSHPRTY S
:16R: AMT M
:19A: :ESTT// [N]3!a15d M
:16S: AMT M
:16S: SETDET M
1. The fields described in this template may contain mandatory information for SWIFT
validation (M), optional for SWIFT validation but mandatory for SaFIR validation (S),
conditional (C) when their presence depends on the presence of other information and
optional (O) for all situations.
2. Function CANC is used to request the cancellation of an instruction previously sent
(the function of the message is CANC).
3. The block „LINK” is present when the Function of Message is CANC (with the field
:20C::PREV//). Otherwise, the indicator is :20C::RELA//.
4. ISIN code is mandatory, description is optional.
5. Mandatory only for repo MRA protocols second leg cancellation
6. Mandatory field if (5) applies. The indicator should be the same as in the original
MT543 instruction.
7. Identifies reverse sell-buy and sell/buyback operations subject to MRA protocol.
8. The indicator should be the same as in the original MT543 instruction.
9. The indicator should be the same as in the original MT543 instruction.
10. If the BIC is not available, option Q should be used (name and address).
48
11. This block is mandatory for EUR-settled operations while for RON-settled
operations this block is mandatory only if the buyer is a securities company. For all
other cases, this block is optional.
12. If (11) is applicable, then this block is mandatory.
MT 540 – MRA and SBB repo operations
Tag Qualifier Format Other
values Comment M/O Note
:16R: GENL M 1
:20C: :SEME// 16x M
:23G: NEWM CANC M 2
:16R: LINK
:20C: :PREV// 16x C 3
:16S: LINK
:16S: GENL M
:16R: TRADDET M
:98a: :ADEL// Option A: ADEL//8!n
(date) S
4
Option C: ADEL//8!n6!n
(date)(time)
:98a: :SETT// Option A: SETT//8!n
(date) M
5
Option C: SETT//8!n6!n
(date)(time)
:98A: :TRAD// 8!n S
:90A: :DEAL//YIEL 15d Repo Rate S
:35B: ISIN1!e12!c
[4*35x] M 6
:22F: :PROC//CLOP O 7
:25D: :AFFM// AFFI -/M 8
NAFI -/M
:70E: :SPRO// 10*35x MRA O 9
:16S: TRADDET M
:16R: FIAC M
:36B: :SETT//FAMT 15d Quantity expressed as the
face amount M
:97A: :SAFE// 35x
Account held by the
delivery agent (house or
omnibus account)
M
49
Tag Qualifier Format Other
values Comment M/O Note
:16S: FIAC M
:16R: REPO M
:98a: :TERM// Option A: TERM//8!n
(date) S
10
Option C: TERM//8!n6!n
(date)(time)
:20C: : REPO // 16x S 11
:19A: :TRTE // [N]3!a15d S
:70C: :SECO// 8!n Date S 12
:16S: REPO M
:16R: SETDET M
:22F: :SETR// REPU M 13
SBBK M 14
:22F: :REPT// CALL S 15
:16R: SETPRTY M
:95P: :DEAG// 4!a2!a2!c M
:16S: SETPRTY M
:16R: SETPRTY S
:95P: :PSET// 4!a2!a2!c SaFIR – BIC S
:16S: SETPRTY S
:16R: SETPRTY S 16
:95P: :REAG// 4!a2!a2!c S
:16S: SETPRTY S
:16R: SETPRTY O
:95a: :SELL// Option P:
SELL//4!a2!a2!c O
17
Option Q: SELL//4*35x
:16S: SETPRTY O
:16R: CSHPRTY S 18
:95P: :ACCW// 4!a2!a2!c ReGIS – BIC S
:16S: CSHPRTY S
:16R: CSHPRTY S 19
:95P: :PAYE// 4!a2!a2!c Buyer’s settlement agent’s
BIC Code S
:16S: CSHPRTY S
:16R: AMT M
:19A: :SETT// [N]3!a15d M
:16S: AMT M
:16S: SETDET M
1. The fields described in this template could be mandatory for SWIFT (M), optional
for SWIFT but mandatory for SaFIR (S), conditional (C) when their presence
50
depending on the presence of the other fields and optional (O) for both SWIFT and
system.
2. Function CANC is used to request the cancellation of an instruction previously sent
(the function of the message is CANC). In this case all fields marked with “O” indicator
in red color are optional.
3. The block „LINK” is present when the Function of Message is CANC (with the field
:20C::PREV//)
4. This option is mandatory only for transactions with non-ron financial instruments.
Otherwise, its use is not allowed.
5. If the parties agreed a cut off time until the instruction has to be settled, the format
of the settlement date is Option C. Otherwise, the system try to settle the instruction
until the cut off time of the service.
6. ISIN code is mandatory, description is optional.
7. Mandatory only for repo MRA protocols second leg cancellation.
8. If (7) is applicable this field is mandatory. Using AFFI field indicates that for second
leg cancellation both participants involved in the protocol will send instructions
requiring matching and NAFI field indicates that second leg cancellation is unilateral.
NAFI field cannot be used for SBB contracts.
9. Optional field but, when it does exist, must be matching criteria. Identifies reverse
sell-buy and sell/buyback operations subject to MRA protocol.
10. If the parties agreed a cut off time until the instruction has to be settled in the
second leg (the closing/maturity date of the Repo), the format of the settlement date is
Option C. Otherwise, the system try to settle the instruction until the cut off time of the
service.
11. Repo agreement reference number – unique identifier assigned by both parties to
a Repo agreement (agreement reference number).
12. Used only for non-Ron Repo agreements (when settlement time lag for second leg
is different from the one in the first leg).
13. REPU is used for identifying Repo operations.
14. SBBK is used for identifying sell/buyback operations.
15. This option is used only in operations for changing the redemption date and/or
price. Its use is not allowed otherwise.
16. Will be used only in contingency situation. Here is BIC code of the Participant in a
51
contingency situation.
17. In option P, the seller is identified by the BIC code. If the BIC is not available,
option Q should be used (name and address).
18. For RON denominated securities, Cash Parties Block is mandatory for SaFIR (S)
only if the buyer is a securities company. For all other cases, this block is optional.
19. If (18) is applicable, then this block is mandatory.
MT 542 – MRA and SBB repo operations
Tag Qualifier Format Other
values Comment M/O Note
:16R: GENL M 1
:20C: :SEME// 16x M
:23G: NEWM CANC M 2
:16R: LINK
:20C: :PREV// 16x C 3
:16S: LINK
:16S: GENL M
:16R: TRADDET M
:98a: :ADEL// Option A: ADEL//8!n
(date) S
4
Option C: ADEL//8!n6!n
(date)(time)
:98a: :SETT// Option A: SETT//8!n
(date) M
5
Option C: SETT//8!n6!n
(date)(time)
:98A: :TRAD// 8!n S
:90A: :DEAL//YIEL 15d Repo Rate S
:35B: ISIN1!e12!c
[4*35x] M 6
:22F: :PROC//CLOP O 7
:25D: :AFFM// AFFI -/M 8
NAFI -/M
:70E: :SPRO// 10*35x MRA O 9
:16S: TRADDET M
:16R: FIAC M
:36B: :SETT//FAMT 15d Quantity expressed as the
face amount M
:97A: :SAFE// 35x Account held by the
delivery agent M
:16S: FIAC M
52
Tag Qualifier Format Other
values Comment M/O Note
:16R: REPO M
:98a: :TERM// Option A: TERM//8!n
(date) S
10
Option C: TERM//8!n6!n
(date)(time)
:20C: :REPO // 16x S 11
:19A: :TRTE // [N]3!a15d S
:70C: :SECO// 8!n Date S 12
:16S: REPO M
:16R: SETDET M
:22F: :SETR// REPU M 13
SBBK M 14
:22F: :REPT// CALL S 15
:16R: SETPRTY M
:95P: :REAG// 4!a2!a2!c M
:16S: SETPRTY M
:16R: SETPRTY S
:95P: :PSET// 4!a2!a2!c SaFIR – BIC S
:16S: SETPRTY S
:16R: SETPRTY S 16
:95P: :DEAG// 4!a2!a2!c S
:16S: SETPRTY S
:16R: SETPRTY O
:95a: :SELL// Option P:
SELL//4!a2!a2!c O
17
Option Q: SELL//4*35x
:16S: SETPRTY O
:16R: CSHPRTY S 18
:95P: :ACCW// 4!a2!a2!c ReGIS – BIC S
:16S: CSHPRTY S
:16R: CSHPRTY S 19
:95P: :PAYE// 4!a2!a2!c Buyer’s settlement agent’s
BIC Code S
:16S: CSHPRTY S
:16R: AMT M
:19A: :SETT// [N]3!a15d M
:16S: AMT M
:16S: SETDET M
1. The fields described in this template could be mandatory for SWIFT (M), optional
for SWIFT but mandatory for SaFIR (S), conditional (C) when their presence
depending on the presence of the other fields and optional (O) for both SWIFT and
53
system.
2. Function CANC is used to request the cancellation of an instruction previously sent
(the function of the message is CANC). In this case all fields marked with “O” indicator
in red color are optional.
3. The block „LINK” is present when the Function of Message is CANC (with the field
:20C::PREV//).
4. This option is mandatory only for non-RON transactions when it’s mandatory,
otherwise it’s not allowed.
5. If the parties agreed a cut off time until the instruction has to be settled, the format
of the settlement date is Option C. Otherwise, the system try to settle the instruction
until the cut off time of the service.
6. ISIN code is mandatory, description is optional.
7. Mandatory only for repo MRA protocols second leg cancellation.
8. If (7) is applicable this field is mandatory. Using AFFI field indicates that for second
leg cancellation both participants involved in the protocol will send instructions
requiring matching and NAFI field indicates that second leg cancellation is unilateral.
NAFI field cannot be used for SBB contracts.
9. Optional field but, when it does exist, must be matching criteria. Identifies reverse
sell-buy and sell/buyback operations subject to MRA protocol.
10. If the parties agreed a cut off time until the instruction has to be settled in the
second leg (the closing/maturity date of the REPO), the format of the settlement date
is Option C
11. Repo agreement reference number – unique identifier assigned by both parties to
a Repo agreement (agreement reference number
12. Used only for non-Ron Repo agreements (when settlement time lag for second leg
is different from the one in the first leg).
13. REPU is used for identifying Repo operations.
14. SBBK is used for identifying sell/buyback operations.
15. This option is used only in operations for changing the redemption date and/or
price. Its use is not allowed otherwise.
16. Will be used only in contingency situation. Here is BIC code of the Participant in a
contingency situation.
17. In option P, the seller is identified by the BIC code. If the BIC is not available,
54
option Q should be used (name and address).
18. For RON denominated securities Cash Parties Block is mandatory for SaFIR (S)
only if the buyer is a securities company. For all other cases, this block is optional.
19. If (18) is applicable, then this block is mandatory.
MT544
This message is sent by SaFIR to the Participant who buys the financial instruments in
order to confirm the transaction conclusion.
Tag Qualifier Format Other values
Comment M/O Note
:16R: GENL M 1
:20C: :SEME// 16x M
:23G: NEWM CANC M 2
:16R: LINK
:20C: :RELA// 16x PREV M 3
:16S: LINK
:16S: GENL M
:16R: TRADDET M
:98C: :ESET// 8!n6!n M
:35B: ISIN1!e12!c
[4*35x] M 4
:22F: :PROC//CLOP O 5
:25D: :AFFM// AFFI -/M 6
NAFI -/M
:70E: :SPRO// 10*35x MRA M 7
:16S: TRADDET M
:16R: FIAC M
:36B: :ESTT//FAMT 15d Quantity expressed
as the face amount M
:97A: :SAFE// 35x
Financial
instruments register
account symbol
M
:16S: FIAC M
:16R: REPO M
:98a:
:TERM//
Option A:
TERM//8!n (date) S
Option C:
TERM//8!n6!n
(date)(time)
55
Tag Qualifier Format Other values
Comment M/O Note
:20C: :REPO // 16x S
:19A: :TRTE // [N]3!a15d S
:16S: REPO M
:16R: SETDET M
:22F: :SETR// 4!c M 8
:22F: :REPT// 4!c S 9
:16R: SETPRTY M
:95P: :DEAG// 4!a2!a2!c M
:16S: SETPRTY M
:16R: SETPRTY S
:95P: :PSET// 4!a2!a2!c SaFIR – BIC S
:16S: SETPRTY S
:16R: SETPRTY O
:95a: :SELL// Option P:
SELL//4!a2!a2!c O
10
Option Q:
SELL//4*35x
:16S: SETPRTY O
:16R: CSHPRTY S 11
:95P: :ACCW// 4!a2!a2!c ReGIS – BIC S
:16S: CSHPRTY S
:16R: CSHPRTY S 12
:95P: :PAYE// 4!a2!a2!c Buyer’s settlement
agent’s BIC code S
:16S: CSHPRTY S
:16R: AMT M
:19A: :ESTT// [N]3!a15d M
:16S: AMT M
:16S: SETDET M
1. The fields described in this template may contain mandatory information for SWIFT
validation (M), optional for SWIFT validation but mandatory for SaFIR validation (S),
conditional (C) when their presence depends on the presence of other information and
optional (O) for all situations.
2. Function CANC is used to request the cancellation of an instruction previously sent
(the function of the message is CANC).
3. The block „LINK” is present when the Function of Message is CANC (with the field
:20C::PREV//). Otherwise, this block will have indicator :20C::RELA//.
4. ISIN code is mandatory, description is optional.
5. Mandatory only for repo MRA protocols second leg cancellation.
56
6. If (7) is applicable this field is mandatory. The indicator should be the same like that
in the original instruction MT540.
7. Identifies reverse sell-buy and sell/buyback operations subject to MRA protocol.
8. The indicator should be the same like that in the original instruction MT540.
9. The indicator should be the same like that in the original instruction MT540.
10. In option P, the seller is identified by the BIC code. If the BIC is not available,
option Q should be used (name and address).
11. For RON denominated securities, this Block is mandatory if the buyer is a
securities company.
12. If (11) is applicable, then this block is mandatory.
MT546
This message is sent by SaFIR to the Participant who sells the financial instruments in
order to confirm the transaction conclusion.
Tag Qualifier Format Other values
Comment M/O Note
:16R: GENL M 1
:20C: :SEME// 16x M
:23G: NEWM CANC M 2
:16R: LINK
:20C: :RELA// 16x PREV M 3
:16S: LINK
:16S: GENL M
:16R: TRADDET M
:98C: :ESET// 8!n6!n M
:35B: ISIN1!e12!c
[4*35x] M 4
:22F: :PROC//CLOP O 5
:25D: :AFFM// AFFI -/M 6
NAFI -/M
:70E: :SPRO// 10*35x MRA M 7
:16S: TRADDET M
:16R: FIAC M
:36B: :ESTT//FAMT 15d Quantity expressed as
the face amount M
57
Tag Qualifier Format Other values
Comment M/O Note
:97A: :SAFE// 35x Financial instruments
register account symbol M
:16S: FIAC M
:16R: REPO M
:98a:
:TERM//
Opţiune A: TERM//8!n
(date) S
Opţiune C:
TERM//8!n6!n
(date)(time)
:20C: :REPO // 16x S
:19A: :TRTE // [N]3!a15d S
:16S: REPO M
:16R: SETDET M
:22F: :SETR// 4!c M 8
:22F: :REPT// 4!c S 9
:16R: SETPRTY M
:95P: :REAG// 4!a2!a2!c M
:16S: SETPRTY M
:16R: SETPRTY S
:95P: :PSET// 4!a2!a2!c SaFIR – BIC S
:16S: SETPRTY S
:16R: SETPRTY O
:95a: :BUYR// Option P:
BUYR//4!a2!a2!c O
10
Option Q:
BUYR//4*35x
:16S: SETPRTY O
:16R: CSHPRTY S 11
:95P: :ACCW// 4!a2!a2!c ReGIS – BIC S
:16S: CSHPRTY S
:16R: CSHPRTY S 12
:95P: :BENM// 4!a2!a2!c Seller’s settlement
agent’s BIC code S
:16S: CSHPRTY S
:16R: AMT M
:19A: :ESTT// [N]3!a15d M
:16S: AMT M
:16S: SETDET M
1. The fields described in this template may contain mandatory information for SWIFT
validation (M), optional for SWIFT validation but mandatory for SaFIR validation (S),
conditional (C) when their presence depends on the presence of other information and
58
optional (O) for all situations.
2. Function CANC is used to request the cancellation of an instruction previously sent
(the function of the message is CANC).
3. The block „LINK” is present when the Function of Message is CANC (with the field
:20C::PREV//). Otherwise, this block will have indicator :20C::RELA//.
4. ISIN code is mandatory, description is optional.
5. Mandatory only for repo MRA protocols second leg cancellation.
6. If (7) is applicable this field is mandatory. The indicator should be the same like that
in the original instruction MT542.
7. Identifies reverse sell-buy and sell/buyback operations subject to MRA protocol.
8. The indicator should be the same like that in the original instruction MT542.
9. The indicator should be the same like that in the original instruction MT542.
10. In option P, the seller is identified by the BIC code. If the BIC is not available,
option Q should be used (name and address).
11. For RON denominated securities, this Block is mandatory if the buyer is a
securities company.
12. If (11) is applicable, then this block is mandatory.
MT540 - repo substitution
Tag Qualifier Format Other
values Comment M/O Note
:16R: GENL M 1
:20C: :SEME// 16x M
:23G: NEWM CANC M 2
:16R: LINK
:20C: :RELA// 16x PREV M 3
:16S: LINK
:16R: LINK 4
:22F: :LINK//WITH S
:13A: :LINK//542 S
:20C: :PREV// 16x M
:16S: LINK
:16S: GENL M
:16R: TRADDET M
:98a: :SETT// Option A: SETT//8!n (date) M 5
59
Tag Qualifier Format Other
values Comment M/O Note
Option C: SETT//8!n6!n
(date)(time)
:98A: :TRAD// 8!n S
:90A: :DEAL//YIEL 15d S
:35B: ISIN1!e12!c
[4*35x] M 6
:70E: :SPRO// 10*35x MRA O/M 7
:16S: TRADDET M
:16R: FIAC M
:36B: :SETT//FAMT 15d Quantity expressed as the face
amount M
:97A: :SAFE// 35x Securities account (house or
omnibus account) M
:16S: FIAC M
:16R: REPO M
:98a: :TERM// Option A: TERM//8!n (date) S 8
Option C: TERM//8!n6!n
(date)(time)
:20C: :REPO // 16x S 9
:19A: :REPA // [N]3!a15d S
:16S: REPO M
:16R: SETDET M
:22F: :SETR//REPU M
:16R: SETPRTY M
:95P: :DEAG// 4!a2!a2!c M
:16S: SETPRTY M
:16R: SETPRTY S
:95P: :PSET// 4!a2!a2!c BIC SaFIR S
:16S: SETPRTY S
:16R: SETPRTY S 10
:95P: :REAG// 4!a2!a2!c S
:16S: SETPRTY S
:16R: SETPRTY O
:95a: :SELL// Option P: SELL//4!a2!a2!c O 11
Option Q: SELL//4*35x
:16S: SETPRTY O
:16S: SETDET M
1. The fields described in this template could be mandatory for SWIFT (M), optional
for SWIFT but mandatory for SaFIR (S), conditional (C) when their presence
depending on the presence of the other fields and optional (O) for both SWIFT and
system.
2. Function CANC is used to request the cancellation of an instruction previously sent
60
(the function of the message is CANC). In this case all fields marked with “O” indicator
in red color are optional.
3. When the Function of Message is CANC the block „LINK” refers to the MT540
message which was previously sent and the indicator is PREV. When the Function of
Message is NEWM the block „LINK” refers to the step 1 initiation message
(MT541/MT543 0r MT540/MT542) and the indicator is RELA.
4. This block is used to condition the processing of the two messages. Even if a single
instruction (message) can not be processed, then all other interdependent instructions
will not be processed either.
5. If the parties agreed a cut off time until the instruction has to be settled, the format
of the settlement date is Option C. If Option A, the system try to settle the instruction
until the cut off time of the service.
6. ISIN code is mandatory, description is optional.
7. Optional field but, when it does exist, must be matching criteria. Identifies reverse
sell-buy and sell/buyback operations subject to MRA protocol.
8. If the parties agreed a cut off time until the instruction has to be settled in the
second leg (the closing/maturity date of the Repo), the format of the settlement date is
Option C.
9. Repo Reference number – Single identification number common to all the collateral
pieces (agreement reference number)
9. Will be used only in contingency situation. Here is BIC code of the Participant in a
contingency situation.
10. In option P, the seller is identified by the BIC code. If the BIC is not available,
option Q should be used (name and address).
MT542 - repo substitution
Tag Qualifier Format Other
values Comment M/O Note
:16R: GENL M 1
:20C: :SEME// 16x M
:23G: NEWM CANC M 2
:16R: LINK
:20C: :RELA// 16x PREV M 3
:16S: LINK
61
Tag Qualifier Format Other
values Comment M/O Note
:16R: LINK 4
:22F: :LINK//WITH S
:13A: :LINK//540 S
:20C: :PREV// 16x M
:16S: LINK
:16S: GENL M
:16R: TRADDET M
:98a: :SETT// Option A: SETT//8!n (date) M
5
Option C: SETT//8!n6!n
(date)(time)
:98A: :TRAD// 8!n S
:90A: :DEAL//YIEL 15d S
:35B: ISIN1!e12!c
[4*35x] M 6
:70E: :SPRO// 10*35x MRA O/M 7
:16S: TRADDET M
:16R: FIAC M
:36B: :SETT//FAMT 15d Quantity expressed as the face
amount M
:97A: :SAFE// 35x Securities account (house or
omnibus account) M
:16S: FIAC M
:16R: REPO M
:98a: :TERM// Option A: TERM//8!n (date) S
8
Option C: TERM//8!n6!n
(date)(time)
:20C: :REPO // 16x S 9
:19A: :REPA // [N]3!a15d S
:16S: REPO M
:16R: SETDET M
:22F: :SETR//REPU M
:16R: SETPRTY M
:95P: :REAG// 4!a2!a2!c M
:16S: SETPRTY M
:16R: SETPRTY S
:95P: :PSET// 4!a2!a2!c BIC SaFIR S
:16S: SETPRTY S
:16R: SETPRTY S 10
:95P: :DEAG// 4!a2!a2!c S
:16S: SETPRTY S
:16R: SETPRTY O
:95a: :BUYR// Option P: BUYR//4!a2!a2!c O 11
62
Tag Qualifier Format Other
values Comment M/O Note
Option Q: BUYR//4*35x
:16S: SETPRTY O
:16S: SETDET M
1. The fields described in this template could be mandatory for SWIFT (M), optional
for SWIFT but mandatory for SaFIR (S), conditional (C) when their presence
depending on the presence of the other fields and optional (O) for both SWIFT and
system.
2. Function CANC is used to request the cancellation of an instruction previously sent
(the function of the message is CANC). In this case all fields marked with “O” indicator
in red color are optional.
3. When the Function of Message is CANC the block „LINK” refers to the MT542
message which was previously sent and the indicator is PREV.
When the Function of Message is NEWM the block „LINK” refers to the MT541/MT543
message which was previously sent and the indicator is RELA.
4. Both messages use the code WITH. It links together one or more instructions which
should be executed together. Even if one single instruction cannot be executed, then
all the other instructions should also be kept pending.
5. If the parties agreed a cut off time until the instruction has to be settled, the format
of the settlement date is Option C. Otherwise, the system try to settle the instruction
until the cut off time of the service.
6. ISIN code is mandatory, description is optional.
7. Optional field but, when it does exist, must be matching criteria. Identifies reverse
sell-buy and sell/buyback operations subject to MRA protocol.
8. If the parties agreed a cut off time until the instruction has to be settled in the
second leg (the closing/maturity date of the Repo), the format of the settlement date is
Option C. Otherwise, the system try to settle the instruction until the cut off time of the
service.
9. Repo Reference number – Single identification number common to all the collateral
pieces (agreement reference number)
10. Will be used only in contingency situation. Here is BIC code of the Participant in a
contingency situation.
11. In option P, the buyer is identified by the BIC code. If the BIC is not available,
option Q should be used (name and address).
63
SWIFT confirmation templates MT544 and MT 546 are similar to similar confirmations
above, but include also repo details.
4.1.4 Pledges
4.1.4.1 Pledge between two SaFIR’ Participants
SaFIR is able to manage: pledge registration, pledge changing, pledge release,
pledge execution, pledge redemption warning.
Pledge can be set up between two SaFIR’ Participants (own name or client name),
between a SaFIR’ Participant and a third party (which is not a SaFIR’ Participant), or
to support settlement of DNS systems authorized by the NBR.
Pledge substitution means that a certain ISIN pledged for a certain quantity can be
substituted by another ISIN for a certain quantity.
Securities pledged can be executed through sale or through appropriation.
Securities pledged can be transferred (in case of portfolio transfer) using MT527.
Operational flow for pledge operations between two SaFIR participants:
64
Pledger
Pledgee
MT527
Data Flow
MT558
Data Fl
D
a Flow
low
MT527
Data Flow
MT558
Data Flow
Data Flow
Data Flow
Data Flow
MT558
Data Flow
MT527
Data Flow
MT558
Data Flow
MT527
Data Flow
MT558
Data Flow
MT527
Data Flow
MT558
Data Flow
MT527
Data Flow
MT558
Data Flow
Data Flow
Data Flow
MT540
Data Flow
MT544
Data Flow
Buyer
Pledger
MT541
Data Flow
MT545
Data Flow
Data Flow
MT547
Data Flow
MT543
Data Flow
Pledge registration
Request pledge registration
Registration confirmation
Cancellation
Request for Cancellation
Cancellation confirmation
Substitution
Request substitution
Substitution confirmation
Pledge execution:
Appropriation
Request for FoP transfer
Settlement confirmation
Pledge execution:
Sale
Request for DvP transfer
Settlement confirmation
Pledge release
Release warning
Automatic pledge release
or
Earlier request for pledge release
Lacking of securities (Pledger)
Validation error
At cut-off time expiration
Data Flow
MT599
Data Flow
Data Flow
MT558
Data Flow
Data Flow
Data Flow
MT527
Data Flow
MT558
MT558
MT599
MT558
MT599
MT599
65
For pledges between a participant and a third party, the operational flow are the same
as the previous, taking into accounts that:
information of the pledge received from the third party are sent through manual
interface by SaFIR operator;
when a Pledgee i.e. a third party executes the pledge, it has to open a cash or
a securities account with a Participant and such Participant will send the
message to SaFIR to execute the pledge.
4.1.4.2 Pledge to support settlement of DNS
Pledge is registered based on the instruction received only from the Pledger
Participant and no matching is required.
SaFIR must validate the message received from Participants with the information
regarding the eligible issues and the relevant haircut.
On the basis of a request received from DNS, RTGS request to SaFIR the execution
of the pledge.
The operational flow for pledge set to support settlement of DNS systems authorized
by the NBR:
MT527
Data Flow
MT558
Data Flow
Pledge registration
Pledge registration request
Pledge confirmation
Request for settlement status
Request for status
Settlement status
Pledge execution
Request for pledge execution
Pledge execution confirmation
Pledge release
Pledge notification
End of session notification
Request for pledge release
Pledge release confirmation
D
N
S
R
T
G
S
MT599
Data Flow
N
B
R
MT558
Data Flow
MT527
Data Flow
MT527
Data Flow
MT558
Data Flow
Pledger
MT599
66
Swift Templates
Messages processed by the SaFIR are:
Function FIN – SaFIR
Input Output
Instruct the specific action on a collateral
management transaction MT527 MT558
Request a cancellation of a instruction previously
sent MT527 MT558
Transfer of portfolio for pledged securities MT527 MT558
Pledge execution through sale - instruct the of
receipt government securities MT541
MT545
MT599
Pledge execution through sale -instruct the
delivery of government securities MT543 MT547
Pledge execution through appropriation -instruct
the receipt of government securities MT540
MT544
MT599
Request for release MT527 MT558
Request for maturity change MT527 MT558
Request for substitution MT527 MT558
Pledge advise DNS - MT599
Pledge Release warning - MT599
67
MT527
This message is sent by a Participant to a depositary to instruct the performance of a
specific action on a collateral management transaction.
This message is also used to request the cancellation of a previously sent instruction.
Tag Qualifier Format Other
values Comment M/O Note
:16R: GENL M 1
:28E: 5n/4!c M
:20C: :SEME// 16x M
:20C: :SCTR// 16x C
:20C: :CLCI// 16x C
:23G: NEWM CANC M 2
:98a: :EXRQ// Option A: EXRQ//8!n
(date) M
3
Option C: EXRQ//8!n6!n
(date)(time)
:22H: :CINT//INIT TERM M
:22H: :COLA//SECL M
:22H: :REPR//PROV RECE M 4
:22F: :PRSS/NBOR/APRO SALE S 5
:16R: COLLPRTY M
:95a: :PTYA// Option P:
PTYA//4!a2!a2!c M
6
Option Q: PTYA//4*35x
:97A: :SAFE// 35x S
:16S: COLLPRTY M
:16R: COLLPRTY M
:95a: :PTYB// Option P:
PTYB//4!a2!a2!c M
7
Option Q: PTYB//4*35x
:97A: :SAFE// 35x O 8
:16S: COLLPRTY M
:16R: COLLPRTY M
:95P: :TRAG// 4!a2!a2!c M
:16S: COLLPRTY M
:70E: :CINS// 10*35x S 9
:16R: LINK
:20C: :PREV// 16x C 10
:16S: LINK
:16S: GENL M
:16R: DEALTRAN M
:98a: :TERM// Option A: TERM//8!n M 11
68
Tag Qualifier Format Other
values Comment M/O Note
(date)
Option C: TERM//8!n6!n
(date)(time)
:19A: :TRAA// 3!a15d S
:16S: DEALTRAN M
:16R: SECMOVE M
:22H: :INOU//COLI COLO M 12
:35B: ISIN1!e12!c
[4*35x] M 13
:36B: :QSEC//FAMT 15d Quantity expressed as the
face amount M
:17B: :COLL//Y M
:16S: SECMOVE M
1. The fields described in this template could be mandatory for SWIFT (M), optional
for SWIFT but mandatory for SaFIR (S), conditional (C) when their presence
depending on the presence of the other fields and optional (O) for both SWIFT and
system.
2. Function CANC is used to request the cancellation of an instruction previously sent
(the function of the message is CANC). In this case all fields marked with “O” indicator
in red color are optional.
3. If the parties agreed a cut off time until the instruction has to be executed, the
format of the execution date is Option C. Otherwise, the system try to execute the
instruction until the cut off time of the pledge service.
4. Whether the client is the collateral taker (RECE) or giver (PROV)
5. The indicator shows the settlement process in which the collateral will be settled:
APRO for a pledge execution by appropriation and SALE for pledge execution by sale.
6. In option P, the party A is identified by the BIC code. If the BIC is not available,
option Q should be used (name and address). The use of of option Q same time with
the indicator :97A::SAFE is not allowed.
7. In option P, the party B is identified by the BIC code. If the BIC is not available,
option Q should be used (name and address). The use of of option Q same time with
the indicator :97A::SAFE is not allowed.
8. This field it’s not allowed for pledge in favor of DNS. It’s mandatory in case of a
pledge between 2 clients of the same bank.
9. Identification of the pledge scope and if it is a portfolio transfer of pledged
69
securities. The field content is standardised.
10. The block „LINK” is conditioned by the function of the message. This block is
present when the Function of Message is CANC with the option :20C::PREV//. If the
function of the message is NEWM and the indicator 22H::CINT//TERM, then LINK
block will be present with the option 20C::RELA//.
11.If the parties agree a cut-off time for pledge release, than Option C will be used. In
case of option A, the system will release the pledges at relevant service cut-off. Option
C it’s not allowed for pledge in favor of DNS.
12. Securities are to be delivered out of sender's account (COLO) or received into
sender's account (COLI)
13. ISIN code is mandatory, description is optional.
MT527 for substitution operations and for quantity change
Tag Qualifier Format Other
values Comment M/O Note
:16R: GENL M 1
:28E: 5n/4!c M
:20C: :SEME// 16x M
:20C: :SCTR// 16x C
:20C: :CLCI// 16x C
:23G: REPL CANC M 2
:98a: :EXRQ// Option A: EXRQ//8!n
(date) M
3
Option C:
EXRQ//8!n6!n
(date)(time)
:22H: :CINT//CADJ M
:22H: :COLA//SECL M
:22H: :REPR//PROV RECE M 4
:22F: :PRSS/NBOR/APRO SALE S 5
:16R: COLLPRTY M
:95a: :PTYA// Option P:
PTYA//4!a2!a2!c M
6
Option Q: PTYA//4*35x
:97A: :SAFE// 35x S
:16S: COLLPRTY M
:16R: COLLPRTY M
:95a: :PTYB// Option P: M 7
70
Tag Qualifier Format Other
values Comment M/O Note
PTYB//4!a2!a2!c
Option Q: PTYB//4*35x
:97A: :SAFE// 35x O
:16S: COLLPRTY M
:16R: COLLPRTY M
:95P: :TRAG// 4!a2!a2!c M
:16S: COLLPRTY M
:70E: :CINS// 10*35x S 8
:16R: LINK
:20C: :RELA// 16x PREV C 9
:16S: LINK M
:16S: GENL M
:16R: DEALTRAN M 10
:98a: :TERM// Option A: TERM//8!n
(date) M
11
Option C:
TERM//8!n6!n
(date)(time)
:19A: :TRAA// 3!a15d S
:16S: DEALTRAN M
:16R: SECMOVE M
:22H: :INOU//COLI //COLO M 12
:35B: ISIN1!e12!c
[4*35x] M 13
:36B: :QSEC//FAMT 15d Quantity expressed as
the face amount M
:17B: :COLL//Y M
:16S: SECMOVE M
:16R: SECMOVE M
:22H: :INOU//COLO //COLI M
:35B: ISIN1!e12!c
[4*35x] M
:36B: :QSEC//FAMT 15d Quantity expressed as
the face amount M
:17B: :COLL//Y M
:16S: SECMOVE M
1. The fields described in this template could be mandatory for SWIFT (M), optional
for SWIFT but mandatory for SaFIR (S), conditional (C) when their presence
depending on the presence of the other fields and optional (O).
2. Function CANC is used to request the cancellation of an instruction previously sent
71
(the function of the message is CANC). In this case, all fields marked with “O”
indicator in red color are optional. Block B (DEALTRAN) should be present in the
cancelation message (SWIFT validation rules) and will be identical whith the one from
the registration message.
3. If the parties agreed a cut off time until the instruction has to be executed, the
format of the execution date is Option C. Otherwise, the system try to execute the
instruction until the cut off time of the pledge service.
4. Whether the client is the collateral taker (RECE) or giver (PROV)
5. The indicator shows the settlement process in which the collateral will be settled:
APRO for a pledge execution by appropriation and SALE for pledge execution by sale.
6. In option P, the party A is identified by the BIC code. If the BIC is not available,
option Q should be used (name and address). The use of of option Q same time with
the indicator :97A::SAFE is not allowed.
7. In option P, the party B is identified by the BIC code. If the BIC is not available,
option Q should be used (name and address). The use of of option Q same time with
the indicator :97A::SAFE is not allowed.
8. Identification of the pledge scope and if it is a portfolio transfer of pledged
securities.. The field content is standardised.
9.The block „LINK” is conditioned by the function of the message. This block is
present when the Function of Message is CANC with the option :20C::PREV// and the
reference of the previous message sent will be used. If the function of the message is
REPL the LINK block will use the reference number allocated by the system to the
pledge registration operation and the indicator will be 20C::RELA//
10. it’s used only for cancellation messages.
11. If the parties agree a cut-off time for pledge release, than Option C will be used. In
case of option A, the system will release the pledges at relevant service cut-off. Option
C it’s not allowed for pledge in favor of DNS.
12. Securities are to be delivered out of sender's account (COLO) or received into
sender's account (COLI)
13. ISIN code is mandatory, description is optional.
Note 1: According with SWIFT Network Validated Rules, if the value of field
:23G:<Function> subfield 1 is REPL, then sequence Deal Transaction Detail is not
allowed, otherwise it is mandatory (Error code(s): E08).
72
Note 2: in case of quantity change it’s enough only one indicator (COLO or COLI)
MT527 for changing maturity date
Tag Qualifier Format Other
values Comment M/O Note
:16R: GENL M 1
:28E: 5n/4!c M :28E:
:20C: :SEME// 16x M
:20C: :SCTR// 16x C
:20C: :CLCI// 16x C
:23G: NEWM CANC M 2
:98a: :EXRQ// Option A: EXRQ//8!n (date) M
3
Option C: EXRQ//8!n6!n
(date)(time)
:22H: :CINT//DADJ M
:22H: :COLA//SECL M
:22H: :REPR//PROV RECE M 4
:22F: :PRSS/NBOR/APRO SALE S 5
:16R: COLLPRTY M
:95a: :PTYA// Option P: PTYA//4!a2!a2!c M 6
Option Q: PTYA//4*35x
:97A: :SAFE// 35x S
:16S: COLLPRTY M
:16R: COLLPRTY M
:95a: :PTYB// Option P: PTYB//4!a2!a2!c M 7
Option Q: PTYB//4*35x
:97A: :SAFE// 35x O
:16S: COLLPRTY M
:16R: COLLPRTY M
:95P: :TRAG// 4!a2!a2!c M
:16S: COLLPRTY M
:70E: :CINS// 10*35x S 8
:16R: LINK
:20C: :RELA// 16x PREV C 9
:16S: LINK M
:16S: GENL M
:16R: DEALTRAN M
:98a: :TERM// Option A: TERM//8!n (date) M
Option C: TERM//8!n6!n
(date)(time)
73
Tag Qualifier Format Other
values Comment M/O Note
:19A: :TRAA// 3!a15d S
:16S: DEALTRAN M
1. The fields described in this template could be mandatory for SWIFT (M), optional
for SWIFT but mandatory for SaFIR (S), conditional (C) when their presence
depending on the presence of the other fields and optional (O).
2. Function CANC is used to request the cancellation of an instruction previously sent
(the function of the message is CANC). In this case, all fields marked with “O”
indicator in red color are optional.
3. If the parties agreed a cut off time until the instruction has to be executed, the
format of the execution date is Option C. Otherwise, the system try to execute the
instruction until the cut off time of the pledge service.
4. Whether the client is the collateral taker (RECE) or giver (PROV)
5. The indicator shows the settlement process in which the collateral will be settled:
APRO for a pledge execution by appropriation and SALE for pledge execution by sale.
6. In option P, the party A is identified by the BIC code. If the BIC is not available,
option Q should be used (name and address). The use of of option Q same time with
the indicator :97A::SAFE is not allowed.
7. In option P, the party B is identified by the BIC code. If the BIC is not available,
option Q should be used (name and address). The use of of option Q same time with
the indicator :97A::SAFE is not allowed.
8. Identification of the pledge scope and if it is a portfolio transfer of pledged
securities.. The field content is standardised.
9. In the block „LINK” indicator is PREV when the Function of Message is CANC,
otherwise is RELA followed by the reference number allotted by the system to the
initial registration.
The block „LINK” is conditioned by the function of the message. This block is present
when the Function of Message is CANC with the option :20C::PREV// and the
reference of the previous message sent will be used. If the function of the message is
REPL the LINK block will use the reference number allocated by the system to the
pledge registration operation and the indicator will be 20C::RELA//.
74
MT558
Tag Qualifier Format Other
values Comment M/O Note
:16R: GENL M 1
:28E: 5n/4!c M :28E:
:20C: :SEME// 16x M
:20C: :CLTR// 16x C
:23G: INST CAST
REST M 2
:98a: :EXRQ// Option A: EXRQ//8!n (date) M
Option C: EXRQ//8!n6!n
(date)(time)
:22H: :CINT//INIT TERM
DADJ M
:22H: :COLA//SECL M
:22H: :REPR//PROV RECE M
:22F: :PRSS/NBOR/APRO SALE S
:16R: COLLPRTY M
:95a: :PTYA// Option P: PTYA//4!a2!a2!c M
Option Q: PTYA//4*35x
:97A: :SAFE// 35x S
:16S: COLLPRTY M
:16R: COLLPRTY M
:95a: :PTYB// Option P: PTYB//4!a2!a2!c M
Option Q: PTYB//4*35x
:97A: :SAFE// 35x O
:16S: COLLPRTY M
:16R: COLLPRTY M
:95P: :TRAG// 4!a2!a2!c M
:16S: COLLPRTY M
:16R STAT _ _ _ S
:25D: 4!c//4!c S
:16R REAS _ _ _ S
:24B: 4!c//4!c S 3
:16R REAS _ _ _ S
:16R STAT _ _ _ S
:16R: LINK
:20C: :RELA// 16x M
:16S: LINK
:16S: GENL M
:16R: DEALTRAN M
:98a: :TERM// Option A: TERM//8!n
(date) M
75
Tag Qualifier Format Other
values Comment M/O Note
Option C: TERM//8!n6!n
(date)(time)
:19A: :TRAA// 3!a15d M
:16S: DEALTRAN M
1. The fields described in this template could be mandatory for SWIFT (M), optional
for SWIFT but mandatory for SaFIR (S), conditional (C) when their presence
depending on the presence of the other fields.
2. Parameter CAST is used to answer to a cancellation request.
3. The specifications for the Reason Codes corresponding to the Status Qualifier are
described in the SWIFT User Handbook and in Annex 1 of this SWIFT user guide.
Status description (:25D:)
Qualifier Codes
Cancellation Processing Status
CPRC
CAND The cancellation request previously received from you has been completed.
DEND The request for cancellation previously received from you will not be executed.
REJT The cancellation request previously received
from you has been rejected for further processing.
Instruction Processing Status
IPRC
CAND The instruction has been cancelled (in an MT548, as an answer to an MT549 instruction status request).
PACK The instruction has been acknowledged / accepted for further processing.
REJT The instruction has been rejected.
TREA The transaction has been treated
Matching Status MTCH MACH The instruction has been matched.
NMAT The instruction has not been matched.
76
MT558 for substitution operations
Tag Qualifier Format Other
values Comment M/O Note
:16R: GENL M 1
:28E: 5n/4!c M
:20C: :SEME// 16x M
:20C: :CLTR// 16x C
:23G: REST M 2
:98a: :EXRQ// Option A: EXRQ//8!n
(date) M
Option C: EXRQ//8!n6!n
(date)(time)
:22H: :CINT//CADJ M
:22H: :COLA//SECL M
:22H: :REPR//PROV RECE M
:22F: :PRSS/NBOR/APRO SALE S
:16R: COLLPRTY M
:95a: :PTYA// Option P:
PTYA//4!a2!a2!c M
Option Q: PTYA//4*35x
:97A: :SAFE// 35x S
:16S: COLLPRTY M
:16R: COLLPRTY M
:95a: :PTYB// Option P:
PTYB//4!a2!a2!c M
Option Q: PTYB//4*35x
:97A: :SAFE// 35x O
:16S: COLLPRTY M
:16R: COLLPRTY M
:95P: :TRAG// 4!a2!a2!c M
:16S: COLLPRTY M
:16R STAT _
_ _ S
:25D: :RPRC//REPL
PEND
DEND
PACK
REJT
S
:16R REAS _ _ _ S
:24B: 4!c//4!c S 3
:16S REAS _ _ _ S
:16S STAT _ _ _ S
:70D: :CINS// 6*35x S 4
:16R: LINK
:20C: :RELA// 16x M
77
Tag Qualifier Format Other
values Comment M/O Note
:16S: LINK
:16S: GENL M
:16R: DEALTRAN M
:98a: :TERM// Option A: TERM//8!n
(date) M
Option C: TERM//8!n6!n
(date)(time)
:19A: :TRAA// 3!a15d M
:16S: DEALTRAN M
1. The fields described in this template could be mandatory for SWIFT (M), optional
for SWIFT but mandatory for SaFIR (S), conditional (C) when their presence
depending on the presence of the other fields.
2. Parameter REST is used to answer to a replacement request.
3. The specifications for the Reason Codes corresponding to the Status Qualifier are
described in the SWIFT User Handbook and in Annex 1 of this SWIFT user guide.
4. The reference number assigned by the system to the respective transaction.
MT 540 – pledge execution through appropriation
Tag Qualifier Format Other
values Comment M/O Note
:16R: GENL M 1
:20C: :SEME// 16x M
:23G: NEWM M 2
:16R: LINK
:20C: :COLR// 16x S 3
:16S: LINK
:16S: GENL M
:16R: TRADDET M
:98A: :SETT// 8!n M
:90A: :DEAL//YIEL/ S
:35B: ISIN1!e12!c
[4*35x] M 4
:16S: TRADDET M
:16R: FIAC M
:36B: :SETT//FAMT 15d Quantity expressed as the face amount M
78
Tag Qualifier Format Other
values Comment M/O Note
:97A: :SAFE// 35x M
:16S: FIAC M
:16R: SETDET M
:22F: :SETR//COLI M
:16R: SETPRTY M
:95P: :DEAG// 4!a2!a2!c M
:16S: SETPRTY M
:16R: SETPRTY S
:95P: :PSET// 4!a2!a2!c BIC SaFIR S
:16S: SETPRTY S
:16R: SETPRTY M 5
:95P: :REAG// 4!a2!a2!c M
:16S: SETPRTY M
:16R: SETPRTY O
:95a: :SELL// Option P: SELL//4!a2!a2!c O 6
Option Q: SELL//4*35x
:16S: SETPRTY O
:16R: AMT S
:19A: :SETT// [N]3!a15d S
:16S: AMT S
:16S: SETDET M
1. The fields described in this template are either mandatory for SWIFT (M), or
optional for SWIFT but mandatory for SaFIR (S), conditional (C) when their presence
depending on the presence of the other fields and optional (O) for both SWIFT and
system.
2. According with system rules this message cannot be canceled.
3. The block „LINK” is present with COLR qualifier and followed by transaction
reference number allotted by the system to initial pledge registration.
4. ISIN code is mandatory, description is optional.
5. Will be used only in contingency situation. Here is BIC code of the Participant in a
contingency situation.
6. In option P, the seller is identified by the BIC code. If the BIC is not available, option
Q should be used (name and address).
Note: MT544 template is described in the FoP messages paragraph.
79
MT 541 – pledge execution through sale
Tag Qualifier Format Other
values Comment M/O Note
:16R: GENL M 1
:20C: :SEME// 16x M
:23G: NEWM CANC M 2
:16R: LINK
:20C: :PREV// 16x C 3
:16S: LINK
:16S: GENL M
:16R: TRADDET M
:98a: :SETT// Option A: SETT//8!n (date) M
4
Option C: SETT//8!n6!n
(date)(time)
:98A: :TRAD// 8!n S
:90A: :DEAL//YIEL 15d S
:35B: ISIN1!e12!c
[4*35x] M 5
:16S: TRADDET M
:16R: FIAC M
:36B: :SETT//FAMT 15d Quantity expressed as the face
amount M
:97A: :SAFE// 35x Securities account (house or
omnibus account) M
:16S: FIAC M
:16R: SETDET M
:22F: :SETR//COLI M
:16R: SETPRTY M
:95P: :DEAG// 4!a2!a2!c M 6
:97A: :SAFE// 35x M
:16S: SETPRTY M
:16R: SETPRTY S
:95P: :PSET// 4!a2!a2!c BIC SaFIR S
:16S: SETPRTY S
:16R: SETPRTY M 7
:95P: :REAG// 4!a2!a2!c M
:16S: SETPRTY M
:16R: SETPRTY O
:95a: :SELL// Option P: SELL//4!a2!a2!c O 8
Option Q: SELL//4*35x
:16S: SETPRTY O
:16R: CSHPRTY S 9
80
Tag Qualifier Format Other
values Comment M/O Note
:95P: :ACCW//
4!a2!a2!c
for RON
4!a2!a2!c
3!c
for EUR
BIC ReGIS for RON
BIC TARGET2- Romania for
EUR
S
:16S: CSHPRTY S
:16R: CSHPRTY S 10
:95P: :PAYE//
4!a2!a2!c
for RON
4!a2!a2!c3!c
for EUR
BIC code of buyer’s funds
settlement bank S
:16S: CSHPRTY S
:16R: AMT M
:19A: :SETT// [N]3!a15d M
:16S: AMT M
:16S: SETDET M
1. The fields described in this template could be mandatory for SWIFT (M), optional
for SWIFT but mandatory for SaFIR (S), conditional (C) when their presence
depending on the presence of the other fields and optional (O) for both SWIFT and
system.
2. Function CANC is used to request the cancellation of an instruction previously sent
(the function of the message is CANC). In this case all fields marked with “O” indicator
in red color are optional.
3. The block „LINK” is present when the Function of Message is CANC (with the field
:20C::PREV//).
4. If the parties agreed a cut off time until the instruction has to be settled, the format
of the settlement date is Option C. Otherwise, the system try to settle the instruction
until the cut off time of the DvP service.
5. ISIN code is mandatory, description is optional.
6. BIC code and account of the pledger.
7. Will be used only in contingency situation. Here is BIC code of the Participant in a
contingency situation.
8. In option P, the seller is identified by the BIC code. If the BIC is not available, option
Q should be used (name and address).
81
9. For RON denominated securities Cash Parties Block is mandatory for SaFIR (S)
only if the buyer is a securities company. For all other cases this block is optional.
10. If (9) is applicable, then (10) is mandatory.
MT 543 – pledge execution through sale
Tag Qualifier Format Other
values Comment M/O Note
:16R: GENL M 1
:20C: :SEME// 16x M
:23G: NEWM CANC M 2
:16R: LINK
:20C: :COLR// 16x M 3
:16S: LINK
:16R: LINK
:20C: :PREV// 16x C 4
:16S: LINK
:16S: GENL M
:16R: TRADDET M
:98a: :SETT// Option A: SETT//8!n (date) M
5
Option C: SETT//8!n6!n
(date)(time)
:98A: :TRAD// 8!n S
:90A: :DEAL//YIEL 15d S
:35B: ISIN1!e12!c
[4*35x] M 6
:16S: TRADDET M
:16R: FIAC M
:36B: :SETT//FAMT 15d Quantity expressed as the face
amount M
:97A: :SAFE// 35x Securities account (house or
omnibus account) M 7
:16S: FIAC M
:16R: SETDET M
:22F: :SETR//COLI M
:16R: SETPRTY M
:95P: :REAG// 4!a2!a2!c M
:16S: SETPRTY M
:16R: SETPRTY S
:95P: :PSET// 4!a2!a2!c BIC SaFIR S
82
:16S: SETPRTY S
:16R: SETPRTY M 8
:95P: :DEAG// 4!a2!a2!c M
:16S: SETPRTY M
:16R: SETPRTY O
:95a: :BUYR// Option P: BUYR//4!a2!a2!c O 9
Option Q: BUYR//4*35x
:16S: SETPRTY O
:16R: CSHPRTY S 10
:95P: :ACCW//
4!a2!a2!c
for RON
4!a2!a2!c
3!c
for EUR
BIC ReGIS for RON
BIC TARGET2- Romania for
EUR
S
:16S: CSHPRTY S
:16R: CSHPRTY S 11
:95P: :BENM//
4!a2!a2!c
for RON
4!a2!a2!c3!c
for EUR
BIC code of seller’s funds
settlement bank S
:16S: CSHPRTY S
:16R: AMT M
:19A: :SETT// [N]3!a15d M
:16S: AMT M
:16S: SETDET M
1. The fields described in this template could be mandatory for SWIFT (M), optional
for SWIFT but mandatory for SaFIR (S), conditional (C) when their presence
depending on the presence of the other fields and optional (O) for both SWIFT and
system.
2. Function CANC is used to request the cancellation of an instruction previously sent
(the function of the message is CANC). In this case all fields marked with “O” indicator
in red color are optional.
3. The block „LINK” is present with COLR qualifier followed by the reference number
assigned by the system to the pledge registration operation,
4. The block „LINK” with the field :20C::PREV// is present if the Function of Message
is CANC.
5. If the parties agreed a cut off time until the instruction has to be settled, the format
of the settlement date is Option C. Otherwise, the system try to settle the instruction
until the cut off time of the DvP service.
83
6. ISIN code is mandatory, description is optional.
7. Pledger account
8. Will be used only in contingency situation. Here is BIC code of the Participant in a
contingency situation.
9. In option P, the buyer is identified by the BIC code. If the BIC is not available, option
Q should be used (name and address).
10. For RON denominated securities Cash Parties Block is mandatory for SaFIR (S)
only if the seller is a securities company. For all other cases this block is optional..
11. If (10) is applicable, then (11) is mandatory.
Note: MT545 and MT547 templates are described in the Delivery/receive against
payment paragraph.
Few particular cases for pledge execution through sale
MT 542 - pledge execution through sale when the buyer is the client of the
pledgee
Tag Qualifier Format Other
values Comment M/O Note
:16R: GENL M 1
:20C: :SEME// 16x M
:23G: NEWM M 2
:16R: LINK
:20C: :COLR// 16x S 3
:16S: LINK
:16S: GENL M
:16R: TRADDET M
:98A: :SETT// 8!n M
:90A: :DEAL//YIEL/ S
:35B: ISIN1!e12!c
[4*35x] M 4
:16S: TRADDET M
:16R: FIAC M
:36B: :SETT//FAMT 15d Quantity expressed as the face
amount M
:97A: :SAFE// 35x Pledger’s account M
:16S: FIAC M
:16R: SETDET M
84
Tag Qualifier Format Other
values Comment M/O Note
:22F: :SETR//COLI M
:16R: SETPRTY M
:95P: :REAG// 4!a2!a2!c Pledgee’s BIC M
:97A: :SAFE// 35x Client account of pledgee S
:16S: SETPRTY M
:16R: SETPRTY S
:95P: :PSET// 4!a2!a2!c BIC SaFIR S
:16S: SETPRTY S
:16R: SETPRTY S 5
:95P: :DEAG// 4!a2!a2!c Pledgee’s BIC S
:16S: SETPRTY S
:16R: SETPRTY O
:95a: :BUYR// Option P: BUYR//4!a2!a2!c O 6
Option Q: BUYR//4*35x
:16S: SETPRTY O
:16R: AMT S
:19A: :SETT// [N]3!a15d S
:16S: AMT S
:16S: SETDET M
1. The fields described in this template are either mandatory for SWIFT (M), or
optional for SWIFT but mandatory for SaFIR (S), conditional (C) when their presence
depending on the presence of the other fields and optional (O) for both SWIFT and
system.
2. According with system rules this message cannot be canceled.
3. The block „LINK” is present with COLR qualifier and followed by transaction
reference number allotted by the system to initial pledge registration.
4. ISIN code is mandatory, description is optional.
5. Will be used only in contingency situation. Here is BIC code of the Participant in a
contingency situation.
6. In option P, the buyer is identified by the BIC code. If the BIC is not available, option
Q should be used (name and address).
Note: MT544 template is described in the FoP messages paragraph.
MT 542 - pledge execution through sale when the pledgee is the client of the
buyer
85
Tag Qualifier Format Other
values Comment M/O Note
:16R: GENL M 1
:20C: :SEME// 16x M
:23G: NEWM M 2
:16R: LINK
:20C: :COLR// 16x S 3
:16S: LINK
:16S: GENL M
:16R: TRADDET M
:98A: :SETT// 8!n M
:90A: :DEAL//YIEL/ S
:35B: ISIN1!e12!c
[4*35x] M 4
:16S: TRADDET M
:16R: FIAC M
:36B: :SETT//FAMT 15d Quantity expressed as the face
amount M
:97A: :SAFE// 35x Pledger’s account M
:16S: FIAC M
:16R: SETDET M
:22F: :SETR//COLI M
:16R: SETPRTY M
:95P: :REAG// 4!a2!a2!c Buyers BIC M
:97A: :SAFE// 35x Buyers account (house account) S
:16S: SETPRTY M
:16R: SETPRTY S
:95P: :PSET// 4!a2!a2!c BIC SaFIR S
:16S: SETPRTY S
:16R: SETPRTY M 5
:95P: :DEAG// 4!a2!a2!c M
:16S: SETPRTY M
:16R: SETPRTY O
:95a: :BUYR// Option P: BUYR//4!a2!a2!c O 6
Option Q: BUYR//4*35x
:16S: SETPRTY O
:16R: AMT S
:19A: :SETT// [N]3!a15d S
:16S: AMT S
:16S: SETDET M
1. The fields described in this template are either mandatory for SWIFT (M), or
86
optional for SWIFT but mandatory for SaFIR (S), conditional (C) when their presence
depending on the presence of the other fields and optional (O) for both SWIFT and
system.
2. According with system rules this message cannot be canceled.
3. The block „LINK” is present with COLR qualifier and followed by transaction
reference number allotted by the system to initial pledge registration.
4. ISIN code is mandatory, description is optional.
5. Will be used only in contingency situation. Here is BIC code of the Participant in a
contingency situation.
6. In option P, the buyer is identified by the BIC code. If the BIC is not available, option
Q should be used (name and address).
Note: MT546 template is described in the FoP messages paragraph.
4.1.5 Initial placement of a new issue
4.1.5.1 Initial placement of new issues for RON denominated securities
Settlement of an issue RON denominated may be performed on a net basis or on a
gross basis.
After the settlement, confirmations are sent to participants through SWIFT messages.
Operational flow:
N
B
R
AUCTION DATE
Import Results
SETTLEMENT DATE NET SETTLEMENT
PROCESS
Net processing
Inform net debit/credit position
Complete DvP
Settlement confirmation
Participant
MT598
87
4.1.5.2 Initial placement of new issues for non RON denominated securities
Settlement of an issue Non-RON denominated is performed only on a gross basis.
After the import of auction results, SaFIR inform the Participants about the amount in
the foreign currency they have to pay to the MPF on settlement date.
Transaction are kept pending until SaFIR receives from the NBR payment
confirmations for each settling Participant.
Operational Flow:
SWIFT templates
Function FIN - SaFIR
Input Output
Confirmation of net settlement process on RON
denominated securities - MT598
Participant notification for non-RON denominated
securities auction - MT515
Auction settlement confirmation for non-RON
denominated -
MT545
MT547
N
B
R
AUCTION DATE
Import Results
Inform Participants
Inform NBR
SETTLEMENT DATE
(AD+N)
Funds transfer confirmation
Complete DvP
Settlement confirmation
Data Flow
Data Flow
MT515
Data Flow
Participant
MT545
88
MT598
Tag Qualifier Format Other
values Comment M/O Note
20 16x M
12 3!n M
77E M
:16R: GENL M 1
:28E: 5n/4!c MORE M
LAST
ONLY
:20C: :PREV// 16x S 2
:90C: 5n3!a15d S
:90C: 5n3!a15d S
:16S: GENL M
12 3!n S
Content of MT5xx (format 3!n)
12 3!n S
Content of MT5xx (format 3!n)
1. The fields described in this template are either mandatory for SWIFT (M), or
optional for SWIFT but mandatory for SaFIR (S), conditional (C) when their presence
depending on the presence of the other fields and optional (O) for both SWIFT and
system.
2. This field is present only if Page Number is greater than 1 and refers to the previous
page (message) Field 20.
MT515
89
This message is used to confirm the details of a purchase or sale and to provide
details on the payment side of the transaction.
Tag Qualifier Format Other
values Comment M/O Note
:16R: GENL M 1
:20C: :SEME// 16x M
:23G: NEWM CANC M 2
:22F: :TRTR//TRAD M
:16R: LINK
:20C: :RELA// 16x PREV C 3
:16S: LINK
:16S: GENL M
:16R: CONFDET M
:98A: :TRAD// 8!n M
:98a: :SETT// Option A: SETT//8!n (date) M
Option C: SETT//8!n6!n
(date)(time)
:90B: :DEAL//ACTU/ 3!a15d M
:22H: :BUSE//BUYI FREE M 4
:22H: :PAYM//APMT Transaction is against
payment M
:16R: CONFPRTY M
:95P: :SELL// 4!a2!a2!c M
:16S: CONFPRTY M
:36B: :CONF//FAMT 15d Quantity expressed as the
face amount M
:35B: ISIN1!e12!c
[4*35x] M 5
:16S: CONFDET M
1. The fields described in this template are either mandatory for SWIFT (M), or
optional for SWIFT but mandatory for SaFIR (S), conditional (C) when their presence
depending on the presence of the other fields and optional (O) for both SWIFT and
system.
2. Function CANC is used to request the cancellation of an instruction previously sent
(the function of the message is CANC).
3. When the Function of Message is CANC than the field is :20C::PREV//.
4. FREE it’s used only in case of special issues.
5. ISIN code is mandatory, description is optional.
90
4.2 Corporate action messages
Corporate action requires processing automatically started by the system, on specific
dates, on the basis of the payment plan data. These kinds of operations are:
coupon/interest payment, partial redemption, optional redemption, redemption at
maturity.
SaFIR will inform Participants entitled to participate in a corporate action process and,
once the settlement is carried out (netted or not), settlement confirmations will be sent.
Operational flow for corporate action:
SWIFT templates
Messages processed by the SaFIR are:
Function FIN - SaFIR
Input Output
Corporate action notification - MT564
Request to cancel a corporate action notification - MT564
Corporate action confirmation - MT566/MT598
Participant
Payment date -7
Corporate Action Notification
Request for cancellation
Payment date
Processing corporate action
Corporate Action Confirmation
Or
Bilateral Net Processing
Net Settlement confirmation
MT564
Data Flow
MT598
Data Flow
MT564
Data Flow
MT566
91
MT564
This message is used to provide a participant with the details of a corporate action
event.
Tag Qualifier Format Other
values Comment M/O Note
:16R: GENL M 1
:20C: :CORP// 16x M
:20C: :SEME// 16x M
:23G: NEWM CANC M 2
:22F: :CAEV//
INTR Interest/ coupon payment M
REDM Final maturity
PCALL Partial redemption
DRAW Optional redemption (Drawing)
:22F: :CAMV//MAND M
:98C: :PREP// 8!n6!n S
:25D: :PROC//COMP M
:16R: LINK
:20C: :PREV// 16x C 3
:16S: LINK
:16S: GENL M
:16R: USECU M
:35B: ISIN1!e12!c
[4*35x] M 4
:16R: ACCTINFO M
:97A: :SAFE// 35x Safekeeping account (house or
omnibus account) M
:93B: :ELIG//FAMT 15d Quantity expressed as the face
amount S
:16S: ACCTINFO M
:16S: USECU M
:16R: CADETL M
:98A: :RDTE// 8!n S
:98A: :PAYD// 8!n S
:98A: :REDM// 8!n S 5
:92A: :FMRD// [N]15d S 6
:92A: :INTR// [N]15d S 7
:92A: :REDM// [N]15d S 8
:70E: ADTX// 10x35 O
:16S: CADETL M
1. The fields described in this template are either mandatory for SWIFT (M), or
optional for SWIFT but mandatory for SaFIR (S), conditional (C) when their presence
92
depending on the presence of the other fields and optional (O) for both SWIFT and
system.
2. Function CANC is used to request the cancellation of an instruction previously sent
(the function of the message is CANC).
3. The block „LINK” is present when the Function of Message is CANC (with the field
:20C::PREV//).
4. ISIN code is mandatory, description is optional.
5. This parameter is used in case of a redemption operation
6. This parameter is used in case of a partial redemption
7. This parameter is used in case of a interest/coupon payment operation.
8. This parameter is used in case of a redemption operation.
MT566
This message is used to confirm to the Participant that securities and/or cash have
been credited/debited to an account as the result of a corporate action event.
Tag Qualifier Format Other
values Comment M/O Note
:16R: GENL M 1
:20C: :CORP// 16x M
:20C: :SEME// 16x M
:23G: NEWM REVR M 2
:22F: :CAEV// INTR Interest/ coupon payment M
REDM Final maturity
PCAL Partial redemption
DRAW Optional redemption (Drawing)
:98C: :PREP// 8!n6!n S
:16R: LINK
:20C: :PREV// 16x C 3
:16S: LINK
:16S: GENL M
:16R: USECU M
:97A: :SAFE// 35x Safekeeping account (house or
omnibus account) M
:35B: ISIN1!e12!c
[4*35x] M 4
93
Tag Qualifier Format Other
values Comment M/O Note
:93B: :CONB//FAMT 15d Quantity expressed as the face
amount S
:16S: USECU M
:16R: CADETL M
:98A: :RDTE// 8!n S
:98A: :PAYD// 8!n S
:98A: :REDM// 8!n S 5
:92A: :FMRD// [N]15d S 6
:92A: :INTR// [N]15d S 7
:92A: :REDM// [N]15d S 8
:16S: CADETL M
:16R: CACONF M
:13A: :CAON// 3!c M
:22F: :CAOP//CASH M
:16S: CACONF M
1. The fields described in this template are either mandatory for SWIFT (M), or
optional for SWIFT but mandatory for SaFIR (S), conditional (C) when their presence
depending on the presence of the other fields and optional (O) for both SWIFT and
system.
2. Function REVR is used to reverse to a posting on a previously sent confirmation.
3. The block „LINK” is present when the Function of Message is REVR (with the field
:20C::PREV//).
4. ISIN code is mandatory, description is optional.
5. This parameter is used in case of a redemption operation
6. This parameter is used in case of a partial redemption
7. This parameter is used in case of a interest/coupon payment operation.
8. This parameter is used in case of a redemption operation.
94
4.3 Statement messages
4.3.1 Request for Statement/Status Advice
MT 549
This message is sent by an account owner to depositary to request one of the
following statements:
statement of holdings (MT 535)
statement of transactions (MT 536)
statement of pending transactions (MT 537)
settlement status and processing advice (MT 548)
settlement status and processing advice for pledge operations (MT 558)
Tag Qualifier Format Other
values Comment M/O Note
:16R: GENL M 1
:20C: :SEME// 16x M
:98C: :STAT// 8!n6!n S
:13A: :REQU// 3!c M
:97A: :SAFE// 35x Securities account (house or omnibus
account) M
:22F: :STTY//4!c see MT535 template S
:22F: :STBA//4!c see MT535 template S
:16S: GENL M
:16R: BYSTAREA S 2
:25D: 4!c see parameters table O
:24B: 4!c see parameters table O
:35B: ISIN1!e12!c
[4*35x] S 3
:16S: BYSTAREA S
:16R: REF S
:20C: :PREV// 16x M
:16S: REF S
95
1. The fields described in this template are either mandatory for SWIFT (M), or
optional for SWIFT but mandatory for SaFIR (S), conditional (C) when their presence
depending on the presence of the other fields and optional (O) for both SWIFT and
system.
2. Block (B) Statement by Status/Reason and/or by Financial Instrument Block and
block (C) Statement by Instruction Reference Block are mutually exclusive. If is
present (B) then (C) is not allowed.
3. ISIN code is mandatory, description is optional.
4.3.2 Settlement status and processing advice
MT 548
This message is sent by depositary to participant and is used to advise the status of a
settlement instruction previously sent by the Participant.
The underlying instruction must be either a deliver or receive and be either free or
against payment. It is also used to reply to a cancellation request previously sent by
the account owner
Tag Qualifier Format Other
values Comment M/O Note
:16R: GENL M 1
:20C: :SEME// 16x M
:23G: INST CAST M 2
:16R: LINK
:20C: :RELA// 16x M
:16S: LINK
:16R: STAT M
:25D: :4!c// 4!c M 3
:16R: REAS O
:24B: :4!c// 4!c M 4
:70D: :REAS// :4!c//6*35x M 5
:16S: REAS O
:16S: STAT M
:16S: GENL M
96
1. The fields described in this template are either mandatory for SWIFT (M), or
optional for SWIFT but mandatory for SaFIR (S), conditional (C) when their presence
depending on the presence of the other fields and optional (O) for both SWIFT and
system.
2. Function CAST is used to answer to a request of cancellation of an instruction
previously sent (the function of the message is CAST).
3. Status of the transaction are used according to SWIFT user manual.
4, 5. Reason codes and narrative field are used according to SWIFT User Handbook
and with Annex 1 from this SWIFT user guide.The specifications for the Reason
Codes corresponding to the Status Qualifier are described in the SWIFT User
Handbook.
97
Decisional Flow:
4.3.3 Statement of accounts
This message is sent by a depository to a Participant at the end of day or as response
to a request for statement/status advice (MT 549).
This message is used to report, at a specified moment in time, the quantity and
identification of securities and other holdings which the depository holds for the
account owner.
Checking :25D::IPRC//REJT :24B::REJT// reason
YES
No
:25D::IPRC//PACK
Matching
(if necessary)
YES
No
Settling
YES
Confirmation
No :25D::MTCH//NMAT :24B::NMAT// reason
:25D::MTCH//MACH
Validation :25D::IPRC//REJT :24B::REJT//
Matching
if necessary
Settling
Waiting? :25D::MTCH//NMAT :24B::NMAT//
:25D::MTCH//MACH
YES
No No
Waiting ?
YES
:25D::SETT//PENF :24B::PENF// reason
:25D::SETT//PENF :24B::PENF//
98
MT 535
Tag Qualifier Format Other
values Comment M/O Note
:16R: GENL M 1
:28E: 5n/4!c M
:13A: :STAT// 3!c S
:20C: :SEME// 16x M
:23G: NEWM CANC M 2
:98C: :STAT// M
:22F: :SFRE//ADHO //DAIL S 3
:22F: :CODE//COMP //DELT S 4
:22F: :STTY//CUST //ACCT M 5
:22F: :STBA//SETT S 6
:16R: LINK
:20C: :RELA// 16x :PREV// C 7
:16S: LINK
:97A: :SAFE// 35x M
:17B: :ACTI// Y or N M 8
:17B: :CONS// Y or N M
:16S: GENL M
:16R: SUBSAFE M
:97A: :SAFE// 35x M
:17B: :ACTI// Y or N M 9
:16R: FIN M
:35B: ISIN1!e12!c
[4*35x] M 10
:90B: :MRKT//ACTU 3!a15d
Estimated indicative price
expressed as (Currency Code)
(Price).
S 11
:93B: AGGR//FAMT 15d M
:93B: AVAI//FAMT 15d S
:93B: NVAL//FAMT 15d S
:16R: SUBBAL C 12
:93B: :4!c//FAMT
15d (see table 2) M
:90E: :MRKT//UKWN M
:19A: :HOLD// 3!a15d M 13
:16S: SUBBAL C
:16S: FIN M
:16S: SUBSAFE M
1. The fields described in this template could be mandatory for SWIFT (M), optional
99
for SWIFT but mandatory for SaFIR (S), conditional (C) when their presence
depending on the presence of the other fields and optional (O).
2. Function CANC is used to request the cancellation of a previously sent statement.
3. Shows if the statement is being sent as part of a requested (ADHO) or is a a daily
report (DAYL)
4. Shows if the statement gives complete information (COMP) or contains changes
which have not yet been reported (DELT).
5. Shows if the statement is a custody statement (CUST) or an accounting statement
(ACCT).
6. The type of balances on which the statement is prepared (follow link).
7. The block „LINK” is not present when the message function is NEWM and indicator
is :SFRE//DAIL.
8, If the flag is Y then sequence "SUBSAFE" is mandatory otherwise is not allowed.
9. If the flag is Y then subsequence "FIN" is mandatory otherwise is not allowed.
10. ISIN code is mandatory, description is optional.
11. Mandatory for SWIFT if is an account statement.
12. Is present only if field :93B::NVAL//FAMT is different from 0.
13. Represents the holding value oh that ISIN (market value) Table 2
Possible values of parameters related to indicator (:93C:) PEND Pending
Delivery Balance of securities that are pending delivery.
PENR Pending Receipt
Balance of securities that are pending receipt.
PLED Pledged Balance of securities that belong to the safekeeping account indicated within this message, and that are pledged.
RSTR Restricted Balance of securities that may only be sold under certain conditions or require legal documents.
4.3.4 Statement of transactions
This message is sent by a depository to a Participant at the end of day or as response
to a request for statement/status advice (MT 549).
100
This message is used to provide the details of increases and decreases of holdings
which occurred during a specified period, for all or selected securities in the specified
safekeeping account or sub-safekeeping account which the depository holds for the
Participant.
MT 536
Tag Qualifier Format Other
values Comment M/O Note
:16R: GENL M 1
:28E: 5n/4!c M
:13A: :STAT// 3!c S
:20C: :SEME// 16x M
:23G: NEWM CANC M 2
:69B: :STAT// :4!c//8!n6!n/8!n6!n M
:22F: :SFRE//ADHO //DAIL S 3
:16R: LINK
:20C: :RELA// 16x :PREV C 4
:16S: LINK
:97A: :SAFE// 35x M
:17B: :ACTI// Y or N M 5
:17B: :CONS// Y or N M
:16S: GENL M
:16R: SUBSAFE M
:97A: :SAFE// 35x M
:17B: :ACTI// Y or N M 6
:16R: FIN M
:35B: ISIN1!e12!c
[4*35x] M 7
:16R: TRAN M
:16R: LINK
:20C: :TRRF// 16x M
:16S: LINK
:16R: TRANSDET M
:36B: :PSTA//FAMT/ 15d
:19A: :PSTA// [N]3!a/15d
S
:22F: :TRAN//SETT
//BOLE
//COLL
//CORP
(see table 2) M 8
:22H: :REDE//RECE //DELI M 9
101
Tag Qualifier Format Other
values Comment M/O Note
:22H: :PAYM//APMT //FREE
M 10
:98C: :ESET// 8!n6!n M
:16R: SETPRTY M 11
:95C: :DEAG// 4!a2!a2!c :REAG// Counterparties BIC code M
:16S: SETPRTY M
:16R: SETPRTY M
:95C: :PSET// 4!a2!a2!c BIC SaFIR M
:16S: SETPRTY M
:16S: TRANSDET M
:16S: TRAN M
:16S: FIN M
:16S: SUBSAFE M
1. The fields described in this template could be mandatory for SWIFT (M), optional
for SWIFT but mandatory for SaFIR (S), conditional (C) when their presence
depending on the presence of the other fields and optional (O).
2. Function CANC is used to request the cancellation of a previously sent statement.
3. Shows if the statement is being sent as part of a requested (ADHO) or is a a daily
report (DAYL)
4. The block „LINK” is not present when the message function is NEWM and indicator
is :SFRE//DAIL.
5. If the flag is Y then sequence "SUBSAFE" is mandatory otherwise is not allowed.
6.If the flag is Y then subsequence "FIN" is mandatory otherwise is not allowed.
7. ISIN code is mandatory, description is optional.
8. Type of activity
9. This field indicates if the securities have been debited (DELI) or credited (RECE)
from/to the safekeeping account.
10. Whether the securities movement is free (FREE) or against payment (APMT)
11. Repetitive block.
102
Table 2
Parameter table regarding the type of activity (:22F:TRAN)
Qualifier Description
BOLE Borrowing/Lending Activity
COLL Collateral Activity
SETT Settlement and Clearing Activity
CORP Corporate Action Activity.
4.3.5 Statement of pending operations
This message is sent by a depository to a Participant at the end of day or as response
to a request for statement/status advice (MT 549).
This message is used to provide the details of pending increases and decreases of
holdings which occurred during a specified period, for all or selected securities in the
specified safekeeping account or sub-safekeeping account which the depository holds
for the Participant.
MT 537
Tag Qualifier Format Other
values Comment M/O Note
:16R: GENL M 1
:28E: 5n/4!c M
:13A: :STAT// 3!c S
:20C: :SEME// 16x M
:23G: NEWM CANC M 2
:98C: :STAT// 8!n6!n M
:22F: :SFRE//ADHO //DAIL S 3
:22H: :STST//STST //TRAN 4
:16R: LINK
:20C: :RELA// 16x :PREV// C 5
:16S: LINK
:97A: :SAFE// 35x M
:17B: :ACTI// Y or N M
:16S: GENL M
:16R: STAT M
:25D: :4!c//4!c (see table 3) M 6
:16R: REAS M
103
:24B: :4!c//4!c (see Annex 1) M 7
:70D: :REAS// :4!c//6*35x (see Annex 1) 8
:16S: REAS
:16R: TRAN M
:16R: LINK M
:20C: :TRRF// 16x M
:16S: LINK M
:16S: TRAN M
:16S: STAT M
1. The fields described in this template could be mandatory for SWIFT (M), optional
for SWIFT but mandatory for SaFIR (S), conditional (C) when their presence
depending on the presence of the other fields and optional (O).
2. Function CANC is used to request the cancellation of a previously sent statement.
3. Shows if the statement is being sent as part of a requested (ADHO) or is a a daily
report (DAYL)
4. Shows if the statement is structured based on the status (STST) or based on
transaction(TRAN). This template is made on status base.
5.The block „LINK” is not present when the message function is NEWM and indicator
is :SFRE//DAIL.
6. Status of the transaction are used according to SWIFT User Handbook.
7, 8. Reason codes and narrative field are used according to SWIFT User Handbook
and with Annex 1 from this SWIFT user guide.
Table 3
Parameter table :25D:
Qualifier
description
Qualifier Code
Description (4!c) (4!c)
Processing status (at
account servicer
level) of the pending
settlement
instruction.
IPRC
CAND The instruction has been cancelled.
CANP
A cancellation request from yourself for
this instruction is pending, waiting for
further processing
CPRC
A cancellation request from your
counterparty for this transaction is
pending, waiting for your cancellation
request.
PACK The instruction has been
acknowledged/accepted for further
104
processing.
Matching status of
the pending
settlement
instruction
MTCH MACH The instruction has been matched.
NMAT The instruction has not been matched
Settlement status of
the pending
settlement
instruction/securities
movement
SETT
PEND
Deliver or receipt instruction is
pending. Settlement at the instructed
settlement date is still possible.
PENF
Deliver or receipt instruction is failing.
Settlement at the instructed settlement
date is no longer possible.
4.3.6 Broadcast messages MT 599 This message is used for pledge maturity warning, broadcast messages, pledge advice to DNS and pledge execution confirmation sent to the pledger.
Tag Qualifier Format Other
values Comment M/O Note
:20: 16x M 1
:21: 16x S 2
:79: 35*50x M 3
1. This field specifies the reference number assigned by the Sender to unambiguously
identify the message.
2. This field contains a reference to the related message. It is a mandatory field for the
SaFIR only when the message is used to respond to a request for pledge advice, i.e.
the MT 599.
3. This field contains the free format message. Its content is standardized (see Annex
2).
105
5 Examples
5.1 Deliver/Receive against payment - initiation and cancellation
MT 541 Receive against payment - initiation and cancellation
Commercial Bank of Romania has bought on behalf of its client S.C. INDUSTRY S.A. government securities (ISIN RO0304CTNOY9) from S.C. INDUSTRY S.A., client of ABN AMRO Bank. Commercial Bank of Romania BIC code: RNCBROBU Commercial Bank of Romania account: RNCB1 ABN AMRO BIC code: ABNAROBU ABN AMRO account: ABNA1 Trade date: 27.11.2003 Settlement date: 27.11.2003 Face amount of the securities: 100.000.000 RON (10 pieces) The price of the securities: 25% Settlement amount: 97.958.183,67 RON
RNCBROBU MT 541 NBORROBS
RNCBROBU MT 541 NBORROBS
A. General Information A. General Information
:16R:GENL :16R:GENL
:20C::SEME//123 :20C::SEME//132
:23G::NEWM :23G::CANC
:16S::GENL A1. Link
B. Trade details :16R::LINK
:16R:TRADDET :20C::PREV//123
:98A::TRAD//20031127 :16S::LINK
:98A::SETT//20031127 :16S::GENL
:90A::DEAL//YIEL/25 B. Trade details
:35B::ISIN RO0304CTNOY9 :16R:TRADDET
:16S::TRADDET :98A::TRAD//20031127
C. Financial Instruments/Account :98A::SETT//20031127
:16R::FIAC :90A::DEAL//YIEL/25
:36B::SETT//FAMT/100000000, :35B::ISIN RO0304CTNOY9
:97A::SAFE//RNCB1 :16S::TRADDET
:16S::FIAC C. Financial Instruments/Account
E. Settlement Details :16R::FIAC
:16R::SETDET :36B::SETT//FAMT/100000000,
:22F::SETR//TRAD :97A::SAFE//RNCB1
E1. Settlement Parties :16S::FIAC
:16R::SETPRTY E. Settlement Details
:95P::DEAG//ABNAROBU :16R::SETDET
:16S::SETPRTY :22F::SETR//TRAD
106
E1. Settlement Parties E1. Settlement Parties
:16R::SETPRTY :16R::SETPRTY
:95P::PSET//NBORROBS :95P::DEAG//ABNAROBU
:16S::SETPRTY :16S::SETPRTY
E1. Settlement Parties E1. Settlement Parties
:16R::SETPRTY :16R::SETPRTY
:95Q::SELL//SCINDUSTRYSA :95P::PSET//NBORROBS
:16S::SETPRTY :16S::SETPRTY
E3. Amounts E1. Settlement Parties
:16R::AMT :16R::SETPRTY
:95P::SETT//RON97958183,67 :95Q::SELL//SCINDUSTRYSA
:16S::AMT :16S::SETPRTY
:16S::SETDET E3. Amounts
:16R::AMT
:95P::SETT//RON97958183,67
:16S::AMT
:16S::SETDET
107
MT 543 Deliver against payment - initiation and cancellation
ABNAROBU MT 543 NBORROBS
ABNAROBU MT 543 NBORROBS
A. General Information A. General Information
:16R:GENL :16R:GENL
:20C::SEME//321 :20C::SEME//331
:23G::NEWM :23G::CANC
:16S::GENL A1. Link
B. Trade details :16R::LINK
:16R:TRADDET :20C::PREV//321
:98A::TRAD//20031127 :16S::LINK
:98A::SETT//20031127 :16S::GENL
:90A::DEAL//YIEL/25 B. Trade details
:35B::ISIN RO0304CTNOY9 :16R:TRADDET
:16S::TRADDET :98A::TRAD//20031127
C. Financial Instruments/Account :98A::SETT//20031127
:16R::FIAC :90A::DEAL//YIEL/25
:36B::SETT//FAMT/100000000, :35B::ISIN RO0304CTNOY9
:97A::SAFE//ABNA1 :16S::TRADDET
:16S::FIAC C. Financial Instruments/Account
E. Settlement Details :16R::FIAC
:16R::SETDET :36B::SETT//FAMT/100000000,
:22F::SETR//TRAD :97A::SAFE//ABNA1
E1. Settlement Parties :16S::FIAC
:16R::SETPRTY E. Settlement Details
:95P::REAG//RNCBROBU :16R::SETDET
:16S::SETPRTY :22F::SETR//TRAD
E1. Settlement Parties E1. Settlement Parties
:16R::SETPRTY :16R::SETPRTY
:95P::PSET//NBORROBS :95P::REAG//RNCBROBU
:16S::SETPRTY :16S::SETPRTY
E1. Settlement Parties E1. Settlement Parties
:16R::SETPRTY :16R::SETPRTY
:95P::BUYR//SCINDUSTRYSA :95P::PSET//NBORROBS
:16S::SETPRTY :16S::SETPRTY
E3. Amounts E1. Settlement Parties
:16R::AMT :16R::SETPRTY
:95P::SETT//RON97958183,67 :95P::BUYR//SCINDUSTRYSA
:16S::AMT :16S::SETPRTY
:16S::SETDET E3. Amounts
:16R::AMT
:95P::SETT//RON97958183,67
:16S::AMT
:16S::SETDET
108
5.2 Receive/deliver free of payment - initiation and cancellation
MT 540 Receive free of payment - initiation and cancellation
S.C. INDUSTRY S.A. want to move his portfolio from ABN AMRO Bank to Commercial Bank of (ISIN RO0304CTNOY9) Commercial Bank of Romania BIC code: RNCBROBU Commercial Bank of Romania account: RNCB1 ABN AMRO BIC code: ABNAROBU ABN AMRO account: ABNA1 Trade date: 27.11.2003 Settlement date: 27.11.2003 Face amount of the securities: 100.000.000 RON (10 pieces)
RNCBROBU MT 540 NBORROBS
RNCBROBU MT 540 NBORROBS
A. General Information A. General Information
:16R:GENL :16R:GENL
:20C::SEME//123 :20C::SEME//132
:23G::NEWM :23G::CANC
:16S::GENL A1. Link
B. Trade details :16R::LINK
:16R:TRADDET :20C::PREV//123
:98A::SETT//20031127 :16R::LINK
:98A::TRAD//20031127 :16S::GENL
:35B::ISIN RO0304CTNOY9 B. Trade details
:16S::TRADDET :16R:TRADDET
C. Financial Instruments/Account :98A::SETT//20031127
:16R::FIAC :98A::TRAD//20031127
:36B::SETT//FAMT/100000000, :35B::ISIN RO0304CTNOY9
:97A::SAFE//RNCB1 :16S::TRADDET
:16S::FIAC C. Financial Instruments/Account
E. Settlement Details :16R::FIAC
:16R::SETDET :36B::SETT//FAMT/100000000,
:22F::SETR//PORT :97A::SAFE//RNCB1
E1. Settlement Parties :16S::FIAC
:16R::SETPRTY E. Settlement Details
:95P::DEAG//ABNAROBU :16R::SETDET
:16S::SETPRTY :22F::SETR//PORT
E1. Settlement Parties E1. Settlement Parties
:16R::SETPRTY :16R::SETPRTY
:95P::PSET//NBORROBS :95P::DEAG//ABNAROBU
:16S::SETPRTY :16S::SETPRTY
:16S::SETDET E1. Settlement Parties
:16R::SETPRTY
:95P::PSET//NBORROBS
:16S::SETPRTY
:16S::SETDET
109
MT 542 Deliver free of payment - initiation and cancellation
ABNAROBU MT 542 NBORROBS
ABNAROBU MT 542 NBORROBS
A. General Information A. General Information
:16R:GENL :16R:GENL
:20C::SEME//321 :20C::SEME//331
:23G::NEWM :23G::CANC
:16S::GENL A1. Link
B. Trade details :16R::LINK
:16R:TRADDET :20C::PREV//321
:98A::SETT//20031127 :16S::LINK
:98A::TRAD//20031127 :16S::GENL
:35B::ISIN RO0304CTNOY9 B. Trade details
:16S::TRADDET :16R:TRADDET
C. Financial Instruments/Account :98A::SETT//20031127
:16R::FIAC :98A::TRAD//20031127
:36B::SETT//FAMT/100000000, :35B::ISIN RO0304CTNOY9
:97A::SAFE//ABNA1 :16S::TRADDET
:16S::FIAC C. Financial Instruments/Account
E. Settlement Details :16R::FIAC
:16R::SETDET :36B::SETT//FAMT/100000000,
:22F::SETR//PORT :97A::SAFE//ABNA1
E1. Settlement Parties :16S::FIAC
:16R::SETPRTY E. Settlement Details
:95P::REAG//RNCBROBU :16R::SETDET
:16S::SETPRTY :22F::SETR//PORT
E1. Settlement Parties E1. Settlement Parties
:16R::SETPRTY :16R::SETPRTY
:95P::PSET//NBORROBS :95P::REAG//RNCBROBU
:16S::SETPRTY :16S::SETPRTY
:16S::SETDET E1. Settlement Parties
:16R::SETPRTY
:95P::PSET//NBORROBS
:16S::SETPRTY
:16S::SETDET
110
5.3 Pledge registration - initiation and cancellation
Pledger MT 527 initiation and cancellation
Commercial Bank of Romania has pledged government securities (ISIN RO0304CTNOY9) in favor of ABN AMRO Bank. Pledger: Commercial Bank of Romania BIC code: RNCBROBU Commercial Bank of Romania account: RNCB1 Pledgee: ABN AMRO BIC code: ABNAROBU ABN AMRO account: ABNA1 Registration date: 27.11.2003 Termination date: 27.06.2004 Face amount of the securities: 100.000.000 RON Transaction amount: 97.958.183,67 RON
RNCBROBU MT 527 NBORROBS
RNCBROBU MT 527 NBORROBS
A. General Information A. General Information
:16R:GENL :16R:GENL
:20C::SEME//123 :20C::SEME//963
:20C::SCTR//456 :20C::SCTR//456
:20C::CLCI//789 :20C::CLCI//789
:23G::NEWM :23G::CANC
:98C::EXRQ//20031127123000 :98C::EXRQ//20031127123000
:22H::CINT//INIT :22H::CINT//INIT
:22H::COLA//SECL :22H::COLA//SECL
:22H::REPR//PROV :22H::REPR//PROV
:22F::PRSS/NBOR/APRO :22F::PRSS/NBOR/APRO
:16R:COLLPRTY :16R:COLLPRTY
:95P::PTYA//RNCBROBU :95P::PTYA//RNCBROBU
:97A::SAFE//RNCB1 :97A::SAFE//RNCB1
:16S:COLLPRTY :16S:COLLPRTY
:16R:COLLPRTY :16R:COLLPRTY
:95P::PTYB//ABNAROBU :95P::PTYB//ABNAROBU
:97A::SAFE//ABNA1 :97A::SAFE//ABNA1
:16S:COLLPRTY :16S:COLLPRTY
:16R:COLLPRTY :16R:COLLPRTY
:95P::TRAG//NBORROBS :95P::TRAG//NBORROBS
:16S:COLLPRTY :16S:COLLPRTY
:70E::CINS//900 :70E::CINS//900
:16S::GENL A1. Link
B. Deal Transaction details :16R::LINK
:16R:DEALTRAN :20C::PREV//123
:98A::TERM//20040627 :16S::LINK
:19A::TRAA//RON97958183,67 :16S::GENL
:16S::DEALTRAN B. Deal Transaction details
111
C. Securities Movements :16R:DEALTRAN
:16R::SECMOVE :98A::TERM//20040627
:22H::INOU//COLO :19A::TRAA//RON97958183,67
:35B::ISIN RO0304CTNOY9 :16S::DEALTRAN
:36B::QSEC//FAMT/100000000, C. Securities Movements
:17B::COLL//Y :16R::SECMOVE
:16S::SECMOVE :22H::INOU//COLO
:35B::ISIN RO0304CTNOY9
:36B::QSEC//FAMT/100000000,
:17B::COLL//Y
:16S::SECMOVE
112
Pledgee MT 527 initiation and cancellation
ABNAROBU MT 527 NBORROBS
ABNAROBU MT 527 NBORROBS
A. General Information A. General Information
:16R:GENL :16R:GENL
:20C::SEME//741 :20C::SEME//751
:20C::SCTR//852 :20C::SCTR//852
:20C::CLCI//369 :20C::CLCI//369
:23G::NEWM :23G::CANC
:98C::EXRQ//20031127123000 :98C::EXRQ//200311271230
:22H::CINT//INIT :22H::CINT//INIT
:22H::COLA//SECL :22H::COLA//SECL
:22H::REPR//RECE :22H::REPR//RECE
:22F::PRSS/NBOR/APRO :22F::PRSS/NBOR/APRO
:16R:COLLPRTY :16R:COLLPRTY
:95P::PTYA//ABNAROBU :95P::PTYA//ABNAROBU
:97A::SAFE//ABNA1 :97A::SAFE//ABNA1
:16S:COLLPRTY :16S:COLLPRTY
:16R:COLLPRTY :16R:COLLPRTY
:95P::PTYB//RNCBROBU :95P::PTYB//RNCBROBU
:97A::SAFE//RNCB1 :97A::SAFE//RNCB1
:16S:COLLPRTY :16S:COLLPRTY
:16R:COLLPRTY :16R:COLLPRTY
:95P::TRAG//NBORROBS :95P::TRAG//NBORROBS
:16S:COLLPRTY :16S:COLLPRTY
:70E::CINS//900 :70E::CINS//900
:16S::GENL A1. Link
B. Deal Transaction details :16R::LINK
:16R:DEALTRAN :20C::PREV//741
:98A::TERM//20040627 :16R::LINK
:19A::TRAA//RON97958183,67 :16S::GENL
:16S::DEALTRAN B. Deal Transaction details
C. Securities Movements :16R:DEALTRAN
:16R::SECMOVE :98A::TERM//20040627
:22H::INOU//COLI :19A::TRAA//RON97958183,67
:35B::ISIN RO0304CTNOY9 :16S::DEALTRAN
:36B::QSEC//FAMT/100000000, C. Securities Movements
:17B::COLL//Y :16R::SECMOVE
:16S::SECMOVE :22H::INOU//COLI
:35B::ISIN RO0304CTNOY9
:36B::QSEC//FAMT/100000000,
:17B::COLL//Y
:16S::SECMOVE
113
5.4 Corporate action messages
MT564 Corporate action notification
Ministry of Public Finance will pay the interest for the government securities - ISIN RO0304CTNOY9. Before payment date, ABN AMRO Bank will receive a notification from SaFIR.
Preparation date of the notification: 26.11.2003
ABN AMRO house account in SaFIR: ABNA0
Total eligible for interest payment: 10.000.000.000.000 RON
Record date: 02.12.2003
Payment date: 03.12.2003
Interest rate: 26,23%
NBORROBS MT564 ABNAROBU
A. General Information
:16R:GENL
:20C::CORP//INTR34
:20C::SEME//578
:23G:NEWM
:22F::CAEV//INTR
:22F::CAMV//MAND
:98C:PREP//20031126095511
:25D::PROC//COMP
:16S::GENL
B. Underlying Securities
:16R:USECU
:35B::ISIN RO0304CTNOY9
B1.Account Information
:16R::ACCTINFO
:97A::SAFE//ABNA0
:93B::ELIG//FAMT/10000000000000,
:16S::ACCTINFO
:16S:USECU
D. Corporate Action Details
:16R:CADETL
:98A::RDTE//20031202
:98A::PAYD//20031203
:92A::INTR//26,23
:16S:CADETL
114
MT566 Corporate action confirmation
Ministry of Public Finance has paid the interest for the government securities - ISIN RO0304CTNOY9. After the payment is concluded, SaFIR sends a notification to ABN AMRO Bank.
Preparation date of the notification: 03.12.2003
ABN AMRO house account in SaFIR: ABNA0
Total eligible for interest payment: 10.000.000.000.000 RON
Record date: 02.12.2003
Payment date: 03.12.2003
Interest rate: 26,23%
NBORROBS MT566 ABNAROBU
A. General Information
:16R:GENL
:20C::CORP//INTR34
:20C::SEME//579
:23G:NEWM
:22F::CAEV//INTR
:98C:PREP//20031203120000
:25D::PROC//COMP
:16S::GENL
B. Underlying Securities
:16R:USECU
:97A::SAFE//ABNA0
:35B::ISIN RO0304CTNOY10
:93B::ELIG//FAMT/10000000000000,
:16S:USECU
C. Corporate Action Details
:16R:CADETL
:98A::RDTE//20031202
:98A::PAYD//20031203
:92A::INTR//26,23
:16S:CADETL
D. Corporate Action Confirmation
:16R:CACONF
:22F::CAOP//CASH
:16S:CACONF
115
6 Matching criteria
Initial message
MATCHING KEY
Fre
e o
f P
aym
en
t (5
40
/54
2)
Pu
rcha
se
/Sa
le (
541
/543
)
Rep
o r
eg
istr
ation (
54
1/5
43
)
Rep
o s
ub
stitu
tio
n, re
gis
tra
tio
n
(54
2/5
40
)
Ple
dge
Re
gis
tratio
n (
52
7)
Ple
dge
sub
stitu
tio
n (
527
)
Function of the Message x x x x x x
Registration date na na na na x x
Type of instruction na na na na x x
Exposure type na na na na x x
Process Indicator na na na na x x
Code of system operator na na na na x x
Collateral Instruction na na na na x x
Link x* na na x* na na
Settlement date x x x x na na
Trade date na x x x na na
Late delivery date (only for nonRON)
na x x x na na
Price x* x x x na na
ISIN code x x x x x x
Quantity x x x x x x
Collateral Flag na na na na x x
ISIN code na na na na na x
Quantity na na na na na x
Collateral Flag na na na na na x
Maturity date/time of a repo na na x x na na
Repo reference na na x x na na
Repurchase amount na na x x na na
Type of Settlement Transaction x x x x na na
Settlement Transaction Condition x* na na na na na
Place of settlement x x x x na na
Cash amount & Currency x* x x x* x na
116
Release date na na na na x na
x* - valid only for some messages
Cancel of a message*
MATCHING KEY
Fre
e o
f P
aym
en
t (5
40
/54
2)
Pu
rcha
se
/Sa
le (
541
/543
)
Rep
o r
eg
istr
ation (
54
1/5
43
)
Rep
o s
ub
stitu
tio
n,
reg
istr
ation
(5
42/5
40
)
Ple
dge
Re
gis
tratio
n (
52
7)
Ple
dge
sub
stitu
tio
n (
527
)
Senders reference x x x x x x
Registration date na na na na x x
Type of instruction na na na na x x
Exposure type na na na na x x
Process Indicator na na na na x x
Code of system operator na na na na x x
Collateral Instruction na na na na x x
Link x* na na x* na na
Settlement date x x x x na na
Trade date na x x x na na
Late delivery date (only for nonRON)
na x x x na na
Price x* x x x na na
ISIN code x x x x x x
Quantity x x x x x x
Collateral Flag na na na na x x
ISIN code na na na na na x
Quantity na na na na na x
Collateral Flag na na na na na x
Maturity date/time of a repo na na x x na na
Repo reference na na x x na na
Repurchase amount na na x x na na
Type of Settlement Transaction x x x x na na
Settlement Transaction Condition x* na na na na na
Place of settlement x x x x na na
117
Cash amount & Currency x* x x x* x na
Release date na na na na x na
* in case of a cancellation, matching will be made with the initial message of the sender
7 Validation rules
Field name Criteria
Trade date, registration date must be today or back date, valid and working date
Settlement date, late delivery date, release date, repo second leg
must be today or forward date, valid and working date
ISIN must be registered in SaFIR data base
Counterparty must be the sender of the matching message
Beneficiary of money** must be BIC code of settlement agent of the buyer
Paying institution** must be BIC code of settlement agent of the seller
118
8 Annex 1
SaFIR Reason Codes and narrative fields
The fields used are 25D “Status Code”, 24B “Reason Code” and for narrative reason field
“70D”.
The field 25D has the following format:
:4!c/[8c]/4!c - (Qualifier) (Data Source Scheme) (Status Code)
The field 24B has the following format:
:4!c/[8c]/4!c - (Qualifier) (Data Source Scheme) (Reason Code)
The field 70D has the following format:
:4!c//6*35x - (Qualifier) (Narrative)
The optional “Data Source Scheme” part is not used.
Also, as a Swift rule, 24B “Status Code” part is equal with the 24B “Qualifier”.
SaFIR uses the following Reason Codes:
1. for 25D “Qualifier” CPRC (this are the Cancel Reason Codes used by SaFIR transactions):
a) for “Status Code“ CAND:
:25D::CPRC//CAND
:24B::CAND//CANI - The instruction has been cancelled as you requested.
:25D::CPRC//CAND
:24B::CAND//CANS - The instruction has been cancelled by the system.
:25D::CPRC//CAND
:24B::CAND//NARR
:70D::REAS//narrative_reason
WHERE narrative_reason is a SaFIR validation rule. Normally this narrative option is not used
since the validation is also done before the transaction is generated, but it may appear.
:25D::CPRC//DEND
:24B::DEND//DCAN - The cancellation request has been denied since the instruction has
already been cancelled.
:25D::CPRC//DEND
:24B::DEND//DPRG - The cancellation request/repo call request has been denied because the
process of settlement is in progress.
25D::CPRC//DEND
:24B::DEND//DSET - The cancellation request/repo call request has been denied since the
instruction has already settled.
119
b) for “Status Code“ REJT:
:25D::CPRC//REJT
:24B::REJT//NARR
:70D::REAS//Service not Running
:25D::CPRC//REJT
:24B::REJT//IIND - Unrecognized, invalid or missing Common Reference.
:25D::CPRC//REJT
:24B::REJT//NRGN - The cancellation request has been rejected since the instruction could not
be found.
2. for 25D “Qualifier” IPRC:
a) for “Status Code” PACK:
:25D::IPRC//PACK - The instruction has been acknowledged/accepted for further processing
by the account servicer (technical receipt)
b) for “Status Code” REJT:
:25D::IPRC//REJT
:24B::REJT//NARR
:70D::REAS//narrative_reason
WHERE “narrative_reason” can be:
Reference is missing
Reference must be 16x
Function of the message is missing
Function of the message is invalid
Previous reference is missing
Could not identify appropriate operation code. Message structure is invalid or ambiguous
Currency is missing or empty
Cash currency cannot contain but alphabetical upper case letters
Trade date is missing
Wrong specification for trade date
Trade date cannot be after current business date
Late delivery date/time specification is forbidden for local currency denominated securities
Settlement date or time is mandatory for local currency denominated securities
Cannot specify settlement both as date and as time in the same message
Settlement time specification is forbidden for foreign currency denominated securities
Cannot specify late delivery both as date and as time in the same message
Late delivery date/time specification is required
Settlement date is missing or is incorrect specified
Settlement date must be in current business date
Wrong specification for cut off date
For local currency issues, cut off date must be the settlement date
Cut off date cannot be set before settlement date
Wrong specification for cut off time
Cutoff time cannot be set in the past
120
For local currency issues, cut off time must be during settlement date
Specified issue is not valid in SaFIR
Specified issue is _STATUS_
Cannot trade BSE issues
Face amount is missing or invalid Invalid face amount
Face amount must be multiple of minimum tradeable amount
Place of Settlement is missing
Place of settlement must be _SaFIR_BIC_
Place of settlement is invalid
Cash Amount is missing or invalid
Error in cash amount specification
Cash currency must be equal to issue currency
Deal yield is missing
Type Of Settlement Transaction is missing
Type Of Settlement Transaction is invalid
Settlement Transaction Condition is missing
Settlement Transaction Condition is invalid
For local currency issues, TRAD type of settlement transaction requires trade between
participant and own client or between brokerage company and its settlement agent or between
security companies having the same settlement agent
For foreign currency issues, TRAD type of settlement transaction requires trade between
participant and own client
OWNI type of settlement transaction requires transfer of portfolio between different
participants
Safekeeping Account is missing or invalid
Invalid safekeeping account specification
Invalid participant in safekeeping account specification
Invalid account code in safekeeping account specification
Delivering Agent not valid in SaFIR
Delivering agent is not active
Delivering Agent cannot be _PARTICIPANT_CLASS_
Delivering agent must be the sender of this message
Analytic account for delivering agent is _STATUS_
Synthetic account for delivering agent is _STATUS_
_ACCOUNT_TYPE_ account is not allowed for _PARTICIPANT_ROLE_
_ACCOUNT_TYPE_ synthetic account not found for _PARTICIPANT_
Receiving Agent not valid in SaFIR
Receiving agent is not active
Receiving Agent cannot be _PARTICIPANT_CLASS_
Receiving agent must be the sender of this message
Analytic account for receiving agent is _STATUS_
Synthetic account for receiving agent is _STATUS_
Invalid safe account specification for FoP Single
No active pledge contract with reference _REFERENCE_
No active pledge contract with reference _REFERENCE_ for _ISIN_
Pledge for DNS can only be executed by RTGS
Error retrieving contract with reference _REFERENCE_
No active repo contract with reference: _REFERENCE_
Field ':70C:Repo' allowed only for NON RON repo operations
121
Invalid cutoff date/time for repo second leg
Account With Institution is not an active participant
Invalid Account With Institution
Account With Institution is mandatory for RON denominated securities if the buyer is a
securities company
Buyer Settlement Agent is mandatory for RON denominated securities if the buyer is a
securities company
If Account With Institution is present then the Paying Institution is mandatory
The Buyer Cash Agent is incorrect
Seller Settlement Agent is mandatory for RON denominated securities if the seller is a
securities company
If Account With Institution is present then the Beneficiary of Money is mandatory
The Seller Cash Agent is incorrect
Deliverer cash agent is the same with receiver cash agent. Use MT540 and MT542 instead
If Account With Institution is present then the Paying Institution is mandatory
The Buyer Cash Agent is incorrect
If Account With Institution is present then the Beneficiary of Money is mandatory
The Seller Cash Agent is incorrect
Deal yield is missing
Type Of Settlement Transaction is missing
Type Of Settlement Transaction is invalid
Trade Date and/or Transaction Yield tag(s) not present
Link Type Indicator tag not present
Place of Settlement tag not present
Sequence E1 Settlement Parties: Safekeeping Account not consistent with Delivering Party
Repo repurchase amount not found
Invalid repo repurchase date/time
Invalid repo closure indicator
Invalid repo closure date
Related reference(RELA - LINK block) should not be specified in a repo registration
Intra-day Repo with NBR not allowed on this type of issue
Invalid repurchase amount for intra-day Repo with NBR
Invalid cash amount for intra-day Repo with NBR
Invalid market value for intra-day Repo with NBR
Repo contract no not found
Existent repo with contract number: _CONTRACT_
Registration date not found
Maturity date not found
Maturity date before start date
Maturity date before first leg cutoff date
Maturity date after second leg cutoff date
Repo not allowed when a total redemption is going to occur between the first and second leg
settlement dates
No repo contract with reference _REFERENCE_
Repo repurchase amount not found
Invalid repo repurchase date/time
Reference of the related FoP Message not found
Repo amount not found
Invalid repo closure indicator
122
Related reference(RELA - LINK block) should not be specified in a repo registration
No repo contract with number: _CONTRACT_
Existing repo with contract number: _CONTRACT_
Registration date not found
Repo not allowed when a total redemption is going to occur between the first and second leg
settlement dates
Invalid dates
Could not find FUTURE second leg for repo contract no: _CONTRACT_
Issue _ISIN_ does not exist in the database
Participant with BIC code = _PARTICIPANT_ does not exist in the database
Account code _ACCOUNT_ not valid
Safekeeping account _ACCOUNT_ for ISIN _ISIN_ does not exist in the database
No message with sender = _PARTICIPANT_ and reference = _PREVIOUS_REFERENCE_
could be found in the database
Maturity time not allowed to be specified for DNS pledge
Invalid registration date
Invalid maturity date
Invalid message function
Invalid In/Out indicator
Invalid RECE/PROV indicator
Invalid execution method _METHOD_
Invalid execution method _METHOD_ for DNS pledge
Invalid Pledge Scope code (CINS)
Contract number not specified
Existing pledge with contract number: _CONTRACT_
Collateral reference not specified
Contract number not specified
No active pledge contract with reference: _REFERENCE_ contract No: _CONTRACT_ and
pledger: _PARTICIPANT_
Safekeeping Account is missing or invalid
Invalid safekeeping account specification
Invalid participant in safekeeping account specification
Invalid account code in safekeeping account specification
Transaction reference is missing or empty
Transaction reference cannot be longer than 16 characters
Related reference is missing or empty
Related reference cannot be longer than 16 characters
Account identification is missing or empty
Account identification cannot be longer than 35 characters
Date currency amount field is missing or empty
Date specification is invalid
Date specification does not follow YYMMDD pattern
Ordering Institution is missing or invalid
Ordering Institution is invalid
Ordering Institution BIC is mandatory
and represents:
_STATUS_ = SaFIR status
123
_SaFIR_BIC_ = the SaFIR BIC code
_ISIN_ = the security ISIN
_ACCOUNT_ = the Account number
_ACCOUNT_TYPE_ = the Account type
_PARTICIPANT_ = the Participant BIC code
_PARTICIPANT_ROLE_ = the Participant role
_PARTICIPANT_CLASS_ = the Participant class
_CONTRACT_ = the Contract number
_REFERENCE_ = the Message/Transaction reference
_PREVIOUS_REFERENCE_ = the previous reference
_METHOD_ = the pledge execution method
3. for 25D “Qualifier” MTCH:
25D::MTCH//MACH - The instruction has been matched.
4. for 25D “Qualifier” SETT:
a) for “Status Code“ PEND:
Deliver or receipt instruction is pending. Settlement at the instructed settlement date is still
possible
:25D::SETT//PEND
:24B::PEND//NARR
:70D::REAS//_PENDING_STATUS_
WHERE _PENDING_STATUS_ is the SaFIR pending status
b) for “Status Code“ PENF:
Deliver or receipt instruction is failing. Settlement at the instructed settlement date is no longer
possible.
:25D::SETT//PENF
:24B::PENF//NARR
:70D::REAS//narrative_reason
WHERE “narrative_reason” can be:
CANCELLED – FoP Cutoff Reached – Funds settlement failed
CANCELLED – DvP Cutoff Reached – Funds settlement failed
CANCELLED – FoP Cutoff Reached – Securities settlement failed
CANCELLED – DvP Cutoff Reached – Securities settlement failed
CANCELLED – FoP Cutoff Reached – Matching failed
CANCELLED – DvP Cutoff Reached – Matching failed
CANCELLED – FoP Cutoff Reached – Authorizations failed
CANCELLED – DvP Cutoff Reached – Authorizations failed
CANCELLED – relevant authority decision
CANCELED - repo repurchase date/time was non-working
124
9 Annex 2
Automatic MT599 notification messages:
Event English
issue status modify Issue ISIN has changed its status from oldStatus to newStats
issue modify Data for Issue ISIN has been changed.
OR
changedField for issue ISIN has been changed.
OR
changedFieldsList for issue ISIN have been changed.
participant status
changed
Participant participantSwiftBic has changed its status to nextStatus
participant role
changed
Participant participantSwiftBic has changed its role from originalRole to
newRole
pledge maturity
warning
ISIN: ISIN
Contract No: contractNo
Event: event
EventDate: eventDate
DvP pledge execution
confirmation (sent to
the pledger)
DvP Pledge Executed for contract: contractNo (*)
FoP pledge execution
confirmation (sent to
the pledger)
FoP Pledge Executed for contract: contractNo (*)
BoldItalictext is in fact the actual value
(*) the text in the current version is without the contract
ISIN = identification of the financial instrument
oldStatus = initial status, before a modification was performed
newStatus = final status, after a modification was performed
changedField = the information that was modified (eg., market value, haircut)
changeFieldList = a list of information previously specified
participantSwiftBic = participant BIC
originalRole = initial role, before a change of role was performed
newRole = final role, as result of a change of role
125
contractNo = reference number of a contract
event =name of the event (eg. coupon/interest payment, total/partial/optional redemption)
event date = date of the event
126
10 Annex 3
Pledge scope codification
Code Explanation
100 Pledge registered in order to settled though SENT
101 Pledge registered in order to settled though BVB
102 Pledge registered in order to settled though SNCDD
103 Pledge registered in order to settled though VISA
104 Pledge registered in order to settled though MASTERCARD
105 Pledge registered in order to settled though Paper Clearing House
200 Lombard facilities
800 Other scopes (NOT under Collateral legislation)
900 Other scopes (under Collateral legislation)
In case of the pledge transfer, this indicator is: :70E::CINS/code/TRTG