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Transcript of SWIFTStandards - Category 3 - Treasury Markets Foreign ...intfico.com/files/Us3ma.pdf ·...
SWIFTStandards
Category 3Treasury Markets Foreign Exchange, Money
Markets & Derivatives(MT 300 - MT 341)
Volume 1November 2003 Standards Release
Standards Release Guide 2003 - Final edition - February 2003
1
Legal Notices
IMPORTANT NOTE: You may install and use this publication only if you have entered into the relevant licence agreementwith SWIFT. Please refer to such licence agreement to determine what you may or may not do with it. Note however that inthe case of a ’Single User Licence’, this publication must be installed on a standalone machine for access by one person atany one time, and references to "organisation" in these notices are to the ordering customer (BIC 8). In the case of a ’ServerLicence’, this publication can also be installed on a server for access within the organisation of the ordering customer (BIC8), and references to "organisation" are then to all those SWIFT Users belonging to the same group as the ordering customer(BIC8) for traffic aggregation purposes.
Copyright
Copyright © S.W.I.F.T. SCRL ("SWIFT"), avenue Adèle 1, B-1310 La Hulpe, Belgium, 2002. All rights reserved. No partof this publication may be copied or reproduced, stored in a retrieval system, sold or transferred to any person, in whole orin part, in any manner or form or on any media, without the prior written permission of SWIFT. The recipient is, however, authorised to copy or reproduce this publication within its own organisation as may be reasonably necessary for the purposefor which it is supplied. Any such copy or reproduction will include the following: acknowledgement of the source, refer-ence and date of publication, and all notices set out on this page.
Confidentiality
This publication may contain proprietary and/or confidential information of SWIFT and/or its suppliers. The recipientshould not disclose this publication outside its organisation without the prior written permission of SWIFT.
Disclaimer
Although SWIFT has used reasonable efforts to ensure accuracy of its contents, SWIFT assumes no liability for any inad-vertent error or omission that may appear in this publication. The information in this publication is the latest available at thedate of its production, and may change from time to time.
Trademarks and Patents
SWIFT, S.W.I.F.T., the SWIFT logo, Sibos, Accord and SWIFT-derived product and service names - such as but notlimited to SWIFTNet and SWIFTAlliance - are trademarks of S.W.I.F.T. SCRL. SWIFT is the trading name of S.W.I.F.T.SCRL. All other product or company names that may be mentioned in this publication are trademarks or registered trade-marks of their respective owners. Patent pending: SWIFTNet - TrustAct - e-paymentsPlus.
February 2003 edition
Standards Release Guide 2003 - Final edition - February 20032
SWIFTStandards - Category 3 Volume 1Legal Notices
Overview
Added Message TypesRemoved Message TypesModified Message Types
Added Message TypesNone
Removed Message TypesNone
Modified Message TypesMT300
MT303
MT304
MT305
MT306
MT307
MT308
MT320
MT321
MT330
MT340
MT341
3Standards Release Guide 2003 - Final edition - February 2003
OverviewSWIFTStandards - Category 3 Volume 1
MT 300 Foreign Exchange Confirmation
MT 300 ScopeThe MT 300 is used to:
confirm the details of a new contract between the partiesconfirm an exercised foreign currency optionconfirm the details of an amendment to a previously sent confirmationcancel a previously sent confirmation.
This message is exchanged by or on behalf of the institutions or corporates, party A and party B, which have agreed to aforeign exchange contract.
This message may also be sent by a money broker to the two parties (party A and party B) for which the broker arranged the deal.
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SWIFTStandards - Category 3 Volume 1MT 300
Where there are two money brokers involved in arranging a deal between party A and party B, this message is alsoexchanged between these money brokers.
This message is also used when one of the trading parties is a fund manager as the fund manager has to specify the fund forwhich he is dealing.
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MT 300SWIFTStandards - Category 3 Volume 1
Party A and party B are the legal entities which have agreed to the transaction.
Party A is either:
the Sender, orthe institution/corporate on behalf of which the message is sent, orone of the institutions for which the broker arranged the deal and to whom it is sending the confirmation, orwhen a money broker confirms to another money broker, the party for which the sending broker arranged the deal.
Party B is either:
the Receiver, orthe institution/corporate on behalf of which the message is received, orthe other institution for which the broker arranged the deal, ie, party A’s counterparty, orwhen a money broker confirms to another money broker, party A’s counterparty.
This message allows:
the specification of the legal counterpartiesthe inclusion of a beneficiarya split settlementthe inclusion of the underlying legal agreement.
MT 300 Format Specifications
MT 300 Foreign Exchange Confirmation
Status Tag Field Name Content/Options No.
Mandatory Sequence A General Information
M 15A New Sequence (CrLf) 1
M 20 Sender’s Reference 16x 2
O 21 Related Reference 16x 3
M 22A Type of Operation 4!c 4
O 94A Scope of Operation 4!c 5
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Status Tag Field Name Content/Options No.
M 22C Common Reference 4!a2!c4!n4!a2!c 6
O 17T Block Trade Indicator 1!a 7
O 17U Split Settlement Indicator 1!a 8
M 82a Party A A, D or J 9
M 87a Party B A, D or J 10
O 83a Fund or Beneficiary Customer A, D or J 11
O 77D Terms and Conditions 6*35x 12
Mandatory Sequence B Transaction Details
M 15B New Sequence (CrLf) 13
M 30T Trade Date 8!n 14
M 30V Value Date 8!n 15
M 36 Exchange Rate 12d 16
Mandatory Subsequence B1 Amount Bought
M 32B Currency, Amount 3!a15d 17
O 53a Delivery Agent A, D or J 18
O 56a Intermediary A, D or J 19
M 57a Receiving Agent A, D or J 20
Mandatory Subsequence B2 Amount Sold
M 33B Currency, Amount 3!a15d 21
O 53a Delivery Agent A, D or J 22
O 56a Intermediary A, D or J 23
M 57a Receiving Agent A, D or J 24
O 58a Beneficiary Institution A, D or J 25
Optional Sequence C Optional General Information
M 15C New Sequence (CrLf) 26
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Status Tag Field Name Content/Options No.
O 29A Contact Information 4*35x 27
O 24D Dealing Method 4!c[/35x] 28
O 84a Dealing Branch Party A A, B, D or J 29
O 85a Dealing Branch Party B A, B, D or J 30
O 88a Broker Identification A, D or J 31
O 71F Broker’s Commission 3!a15d 32
O 26H Counterparty’s Reference 16x 33
O 21G Broker’s Reference 16x 34
O 72 Sender to Receiver Information 6*35x 35
Optional Sequence D Split Settlement Details
M 15D New Sequence (CrLf) 36
----->
M 17A Buy (Sell) Indicator 1!a 37
M 32B Currency, Amount 3!a15d 38
O 53a Delivery Agent A, D or J 39
O 56a Intermediary A, D or J 40
M 57a Receiving Agent A, D or J 41
O 58a Beneficiary Institution A, D or J 42
-----|
M 16A Number of Settlements 5n 43
M = Mandatory O = Optional
MT 300 Network Validated RulesC1
In sequence A, the presence of field 21 depends on field 22A as follows (Error code(s): D70):
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Sequence Aif field 22A is ...
Sequence Athen field 21 is ...
AMND Mandatory
CANC Mandatory
DUPL Optional
EXOP Optional
NEWT Optional
C2
The presence of fields 88a and 71F in sequence C and therefore, the presence of sequence C itself, depend on field 94Ain sequence A as follows (Error code(s): D74):
Sequence Aif field 94A is ...
Then Sequence C is ... Sequence Cwith field 88a ...
Sequence Cwith field 71F ...
Not present Optional Optional Not allowed
AGNT Optional Optional Not allowed
BILA Optional Optional Not allowed
BROK Mandatory Mandatory Optional
C3
The presence of sequence D depends on field 17U in sequence A as follows (Error code(s): D76):
Sequence Aif field 17U is ...
then Sequence D is ...
Not present Not allowed
Y Mandatory
N Not allowed
MT 300 Usage RulesThe following rules apply when sending/exchanging an MT300:
For the actual transfer of funds or the confirmation of credits and debits, other messages outside Category 3 are avail-able, such as the MTs 202/203/205, Financial Institution Transfer messages and the MTs 900/910/950, Confirmation ofDebit/Credit and Statement, respectively.
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In all cases, the common reference of the MT 300 must be quoted in the relevant reference field, ie, field 21 of the MTs202, 203, 205. When an MT 202 covers the deal, the party identification fields 56a, 57a and 58a of the MT 300 directlymap onto the same fields in the MT 202.
The MT 300, split settlement is used when an amount is too big to be settled as a whole because of certain limits. The beneficiary is the same for each part.To cancel a previously sent message (field 22A is CANC):
field 21 must contain the reference, ie, the content of field 20, of the message containing the instruction to be cancelled;the cancellation message must contain a copy of at least the mandatory fields of the general information and trans-action details sequences.
Sending an MT 300 with code word CANC in field 22A, cancels both the underlying contract and the previously sent confirmation message as referred to in field 21 Related Reference.To amend a previously sent message (field 22A is AMND):
field 21 must contain the reference, ie, the content of field 20, of the message containing the instruction to be amended;the amendment message must contain both the unchanged and the changed/new fields of the original message;the amendment message replaces the original message.
When the MT 300 is used to confirm the exercise of a foreign currency option, ie, when the preceding message was anMT 305 or an MT 306, field 21 should contain the contents of field 20 of the related MT 305 or MT 306.
MT 300 GuidelinesAn MT 392 can be used for cancellation. The following issues however, have to be considered:
Acknowledgement: by sending the MT 392, the sender requests the receiver to cancel the confirmation previously sent.The receiver must acknowledge the request by sending an MT 396 back to the sender of the MT 392.Routing: the MT 392 might not be routed to the same destination as the MT 300 to be cancelled.Repetition of the original message: in the MT 392, only the sender’s reference of the previous message is mandatory,all other fields are optional. When an MT 300 with CANC is used, the fields to be copied are mandated by the stan-dard.
Settlement Details
The table below shows how the different settlement parties involved in the deal can be identified. The table is presentedfrom party A’s point of view.
Whenever possible, users should use option A to identify institutions in these fields. Use of free text, ie, option D, exceptwhen used to specify recognized code words, is strongly discouraged. Option D not only precludes party B from matchingand further processing the message automatically but also is contrary to the message text standards which state that option Dis only to be used when no other option is available.
Option J is only used when exchanging messages with fund managers.
Normally, the beneficiary is party A for the amount bought and party B for the amount sold. If party A or party B forwardsthe funds to an ultimate beneficiary institution, this institution is included in field 58a of the amount sold.
Party A services account of party B. No separate settlement messages are sent.
Party A will RECEIVE funds from Party B Party A will PAY funds to Party B
Party A will debit party B’s account. Party A will credit party B’s account
:53a: not used :53a: not used
:56a: not used :56a: not used
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Party A will RECEIVE funds from Party B Party A will PAY funds to Party B
:57a:[/account no of party B]party A
:57a:[/account no of party B]party A
Party B services account of party A. No separate settlement messages are sent.
Party A will RECEIVE funds from Party B Party A will PAY funds to Party B
Party B will credit party A’s account Party B will debit party A’s account
:53a: not used :53a: not used
:56a: not used :56a: not used
:57a:[/account no of party A]party B
57a:[/account no of party A]party B
Beneficiary’s account serviced by a financial institution other than party A or party B. The payer sends an MT 202 toits correspondent who will then send an MT 205 or equivalent to the correspondent of the payee. The correspondentcan be a branch of the party.
Party A will RECEIVE funds from Party B Party A will PAY funds to Party B
Credit to party A’s account with that financial institution
Credit to party B’s account with that financial insti-tution
[:53a:Correspondent of party B] [:53a:Correspondent of party A]
:56a: not used :56a: not used
:57a:[/account no of party A]correspondent of party A
:57a:[/account no of party B]correspondent of party B
Beneficiary receives the funds through another institution (eg, BANK x for party x).
The payer sends an MT 202 to its correspondent. The correspondent will then send an MT 205 or equivalent to the correspondent of BANK x, ie, CORR x. CORR x will then send an MT 202 to BANK x who will then send an MT 950to party x.
Field 56a identifies where BANK x will receive the funds.
Party A will RECEIVE funds from Party B Party A will PAY funds to Party B
BANK A will receive the funds for party A BANK B will receive the funds for party B
[:53a:Correspondent of party B] [:53a:Correspondent of party A]
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Party A will RECEIVE funds from Party B Party A will PAY funds to Party B
:56a:[/account no of BANK A]CORR A
:56a:[/account no of BANK B]CORR B
:57a:[/account no of party A]BANK A
:57a: [/account no of party B]BANK B
Beneficiary to receive the funds directly through a clearing system.
The payer sends an MT 202 to its correspondent who will then send an MT 202 the payee.
Party A will RECEIVE funds from Party B Party A will PAY funds to Party B
Party A will receive the funds through clearing Party B will receive the funds through clearing
[:53a:Correspondent of party B] [:53a:Correspondent of party A]
:56a: not used :56a: not used
:57a:/CLEARparty A
:57a:/CLEARparty B
The counterparties use their standing settlement instructions.
Party A will RECEIVE funds from Party B Party A will PAY funds to Party B
:53a: not used :53a: not used
:56a: not used :56a: not used
:57D:SSI :57D:SSI
The payment flows are netted based on a bilateral agreement.
Party A will RECEIVE funds from Party B Party A will PAY funds to Party B
:53a: not used :53a: not used
:56a: not used :56a: not used
:57D:NET :57D:NET
The payment flows are netted using a netting system.
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Party A will RECEIVE funds from Party B Party A will PAY funds to Party B
:53a: not used :53a: not used
:56a: not used :56a: not used
:57a:identification of the system eg,:57A:ACCOBEB3 for Accord netting
:57a:identification of the system eg,:57A:ACCOBEB3 for Accord netting
There is no payment (amount is zero) or the settlement details are irrelevant.
Party A will RECEIVE funds from Party B Party A will PAY funds to Party B
:53a: not used :53a: not used
:56a: not used :56a: not used
:57D:NONE :57D:NONE
The settlement details are not known at the time the confirmation is issued.
Party A will RECEIVE funds from Party B Party A will PAY funds to Party B
:53a: not used :53a: not used
:56a: not used :56a: not used
:57D:UNKNOWN :57D:UNKNOWN
Note: It is only necessary to quote an account number when multiple accounts are serviced for thesame institution.
MT 300 Field Specifications
1. Field 15A: New Sequence
FORMAT
Option A Empty field
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PRESENCE
Mandatory
DEFINITION
This field specifies the start of mandatory sequence A General Information.
USAGE RULES
Only the field tag must be present, the field is empty.
2. Field 20: Sender’s Reference
FORMAT
16x
PRESENCE
Mandatory
DEFINITION
This field specifies the reference number assigned by the Sender to unambiguously identify the message.
NETWORK VALIDATED RULES
This field must not start or end with a slash ’/’ and must not contain two consecutive slashes ’//’ (Error code(s): T26).
USAGE RULES
The reference assigned to a message is used for cross-referencing purposes in subsequent messages, such as followingMT 300s and statement messages, as well as queries. It is therefore essential for the identification of the original MT 300sent that this reference is unique.
3. Field 21: Related Reference
FORMAT
16x
PRESENCE
Conditional (C1)
DEFINITION
This field contains the identification of the message to which the current message is related, ie, the sender’s reference infield 20 of the previous message which is to be amended or cancelled by this message.
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NETWORK VALIDATED RULES
This field must not start or end with a slash ’/’ and must not contain two consecutive slashes ’//’ (Error code(s): T26).
USAGE RULES
When used, this field must contain field 20 Sender’s Reference of the previous message, or the reference of the telex/fax ofthe original confirmation.
4. Field 22A: Type of Operation
FORMAT
Option A 4!c (Type)
PRESENCE
Mandatory
DEFINITION
This field specifies the function of the message.
CODES
One of the following codes must be used (Error code(s): T36):
AMND Replaces a previously sent confirmation with the amended one contained in this message.Used to add settlement agents to an MT 300 previously sent-or-to correct error(s) in an MT 300 previously sent.
CANC Cancels a previously sent confirmation.Used to cancel an MT 300 previously sent-or-to cancel an MT 300 which contains erroneous information.
DUPL Duplicates a previously sent confirmation.Used to inform the Receiver that a confirmation was already sent by telex, fax or SWIFT
EXOP Confirms the mutually agreed exercise of an option.
NEWT New confirmation.Used to send a confirmation for the first time-or-to send a corrected MT 300 when the erroneous one was cancelled using an MT 300 with function CANC.
USAGE RULES
An amendment or cancellation always refers to the previous confirmation identified in field 21 of this message.
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5. Field 94A: Scope of Operation
FORMAT
Option A 4!c (Scope)
PRESENCE
Optional
DEFINITION
This field specifies the role of the Sender and the Receiver of the message in the conclusion of the confirmed trade.
CODES
One of the following codes must be used (Error code(s): T36):
AGNT Sender/Receiver is sending/receiving the message on behalf of a third party.
BILA Bilateral confirmation, ie, the Sender and the Receiver are the principals.
BROK The confirmation is sent by a money broker.
USAGE RULES
The absence of this field means that the Sender and the Receiver are principals, ie, Scope is BILA.
AGNT is used when the confirmation has been sent or received on behalf of a separate legal party and that party has donethe deal.
6. Field 22C: Common Reference
FORMAT
Option C 4!a2!c4!n4!a2!c (Bank Code 1) (Location Code 1)(Reference Code) (Bank Code 2)(Location Code 2)
PRESENCE
Mandatory
DEFINITION
This field contains a reference common to both the Sender and the Receiver.
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NETWORK VALIDATED RULES
This field consists of the bank and location codes (Error code(s): T95) (from the ISO Bank Identifier Code) of both theSender and the Receiver of the MT 300. These codes must appear in alphabetical order (letters take precedence overnumbers) (Error code(s): T96).
Location Code 1 and Bank Code 2 are separated by four digits, which must consist of the rightmost non-zero digit of field36 in sequence B, preceded by the three digits to the left of it. If there are no digits to the left of it, the space must be zerofilled (Error code(s): T22).
7. Field 17T: Block Trade Indicator
FORMAT
Option T 1!a (Indicator)
PRESENCE
Optional
DEFINITION
This field specifies whether the confirmed deal is a block trade and whether an MT 303 Forex/Currency Option Allocation Instruction, will be sent by the fund manager.
CODES
One of the following codes must be used (Error code(s): T36):
N If a normal trade, no MT 303 will be sent.
Y If a block trade, an MT 303 will be sent by the fund manager.
USAGE RULES
The absence of this field means that it is a normal trade (Indicator is N).
8. Field 17U: Split Settlement Indicator
FORMAT
Option U 1!a (Indicator)
PRESENCE
Optional
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DEFINITION
This field specifies whether the amount is to be settled as a whole or in several parts.
CODES
One of the following codes must be used (Error code(s): T36):
N The settlement of the amount as a whole.
Y Split settlements.
USAGE RULES
The absence of this field means that the amount will be settled as a whole (Indicator is N).
9. Field 82a: Party A
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC/BEI)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Mandatory
DEFINITION
This field identifies party A.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC/BEI or UKWN if BIC/BEI not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
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/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/ O followed by a clearing code
M = Mandatory O = Optional
NETWORK VALIDATED RULES
The BIC/BEI must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
USAGE RULES
For matching purposes, option A must be used when available.
Party A is either the sender :94A:BILA, or, the institution or corporate on whose behalf the message is sent :94A:AGNT,except when the Sender is a money broker :94A:BROK.
When the Sender is a fund manager, the fund manager is specified in this field.
Please refer to the chapter Scope for this MT.
10. Field 87a: Party B
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC/BEI)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Mandatory
DEFINITION
This field identifies party B.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC/BEI or UKWN if BIC/BEI not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
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/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/ O followed by a clearing code
M = Mandatory O = Optional
NETWORK VALIDATED RULES
The BIC/BEI must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
USAGE RULES
For matching purposes, option A must be used when available.
Party B is either the Receiver :94A:BILA, or, the institution or corporate on whose behalf the message is received :94A:AGNT, except when the Sender is a money broker :94A:BROK.
When the Receiver is a fund manager, the fund manager is specified in this field.
Please refer to the chapter Scope for this MT.
11. Field 83a: Fund or Beneficiary Customer
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC/BEI)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Optional
DEFINITION
This field specifies the fund or beneficiary customer.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ O followed by the BIC/BEI or UKWN if BIC/BEI not known
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/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/ O followed by a clearing code
M = Mandatory O = Optional
NETWORK VALIDATED RULES
The BIC/BEI must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
USAGE RULES
For matching purposes, option A must be used when available.
When the message is sent or received by a fund manager, this field specifies the fund. The fund manager is specified respec-tively in either field 82a or field 87a.
12. Field 77D: Terms and Conditions
FORMAT
Option D 6*35x (Narrative)
PRESENCE
Optional
DEFINITION
This field specifies the underlying legal agreement.
USAGE RULES
This field may refer to master agreements which have been put in place on a bilateral basis. It may also refer to local regula-tions or to specific conditions applicable to the trade.
If this field is not present, the deal conforms either to bilateral agreements or to usual banking practice.
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13. Field 15B: New Sequence
FORMAT
Option B Empty field
PRESENCE
Mandatory
DEFINITION
This field specifies the start of mandatory sequence B Transaction Details.
USAGE RULES
Only the field tag must be present, the field is empty.
14. Field 30T: Trade Date
FORMAT
Option T 8!n (Date)
PRESENCE
Mandatory
DEFINITION
This field specifies the date the transaction was agreed between party A and party B.
NETWORK VALIDATED RULES
Date must be a valid date expressed as YYYYMMDD (Error code(s): T50).
USAGE RULES
The trade date remains the same when a confirmation is amended (corrected/completed) unilaterally. When the terms of thedeal are renegotiated on a bilateral basis, the trade date reflects the date of renegotiation in the amend message.
15. Field 30V: Value Date
FORMAT
Option V 8!n (Date)
PRESENCE
Mandatory
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DEFINITION
This field specifies the value date of the transaction.
NETWORK VALIDATED RULES
Date must be a valid date expressed as YYYYMMDD (Error code(s): T50).
16. Field 36: Exchange Rate
FORMAT
12d (Rate)
PRESENCE
Mandatory
DEFINITION
This field specifies the agreed exchange rate of the transaction. It is the rate as the deal was struck.
NETWORK VALIDATED RULES
The integer part of Rate must contain at least one digit. A decimal comma is mandatory and is included in the maximumlength (Error code(s): T40, T43).
17. Field 32B: Currency, Amount
FORMAT
Option B 3!a15d (Currency) (Amount)
PRESENCE
Mandatory
DEFINITION
This field specifies the currency and amount bought by party A.
NETWORK VALIDATED RULES
Currency must be a valid ISO 4217 currency code (Error code(s): T52).
The integer part of Amount must contain at least one digit. A decimal comma is mandatory and is included in the maximumlength. The number of digits following the comma must not exceed the maximum number allowed for the specifiedcurrency (Error code(s): C03, T40, T43).
18. Field 53a: Delivery Agent
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FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Optional
DEFINITION
This field identifies the financial institution from which the payer will transfer the amount bought.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC or UKWN if BIC not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/or
O followed by a clearing code
/NETS/or
M A net settlement is taking place.
/SSIS/ M Standard settlement instructions are used.
M = Mandatory O = Optional
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NETWORK VALIDATED RULES
The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
The BIC must not be a BEI, ie, must not be of subtype BEID, MCCO, TESP or TRCO (Error code(s): C05).
USAGE RULES
For matching purposes, option A must be used when available.
Field 53a is used only when the payer wants to inform the payee where the funds come from.
Please refer to the chapter Guidelines for this MT.
19. Field 56a: Intermediary
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Optional
DEFINITION
This field specifies the intermediary institution for the transfer of the funds.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC or UKWN if BIC not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
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/CLRC/or
O followed by a clearing code
/NETS/or
M A net settlement is taking place.
/SSIS/ M Standard settlement instructions are used.
M = Mandatory O = Optional
NETWORK VALIDATED RULES
The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
The BIC must not be a BEI, ie, must not be of subtype BEID, MCCO, TESP or TRCO (Error code(s): C05).
USAGE RULES
For matching purposes, option A must be used when available.
Please refer to the chapter Guidelines for this MT.
20. Field 57a: Receiving Agent
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Mandatory
DEFINITION
This field identifies the financial institution and account where the payee will receive the amount bought.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC or UKWN if BIC not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
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/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/or
O followed by a clearing code
/NETS/or
M A net settlement is taking place.
/SSIS/ M Standard settlement instructions are used.
M = Mandatory O = Optional
CODES
With option D, one of the following codes may also be used:
NET When net settlement takes place
NONE When no settlement is taking place.
SSI When standing settlement instructions apply.
UNKNOWN When the settlement instructions are not known.
NETWORK VALIDATED RULES
The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
The BIC must not be a BEI, ie, must not be of subtype BEID, MCCO, TESP or TRCO (Error code(s): C05).
USAGE RULES
For matching purposes, option A must be used when available.
Party Identifier in options A and D may be used to indicate a CHIPS Universal Identifier. When used, it must be precededby a double slash ’//’, and the code CH and 6 digits.
Please refer to the chapter Guidelines for this MT.
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21. Field 33B: Currency, Amount
FORMAT
Option B 3!a15d (Currency) (Amount)
PRESENCE
Mandatory
DEFINITION
This field specifies the currency and amount sold by party A.
NETWORK VALIDATED RULES
Currency must be a valid ISO 4217 currency code (Error code(s): T52).
The integer part of Amount must contain at least one digit. A decimal comma is mandatory and is included in the maximumlength. The number of digits following the comma must not exceed the maximum number allowed for the specifiedcurrency (Error code(s): C03, T40, T43).
22. Field 53a: Delivery Agent
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Optional
DEFINITION
This field identifies the financial institution from which the payer will transfer the amount sold.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC or UKWN if BIC not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
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/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/or
O followed by a clearing code
/NETS/or
M A net settlement is taking place.
/SSIS/ M Standard settlement instructions are used.
M = Mandatory O = Optional
NETWORK VALIDATED RULES
The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
The BIC must not be a BEI, ie, must not be of subtype BEID, MCCO, TESP or TRCO (Error code(s): C05).
USAGE RULES
For matching purposes, option A must be used when available.
Field 53a is used only when the payer wants to inform the payee where the funds come from.
Please refer to the chapter Guidelines for this MT.
23. Field 56a: Intermediary
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Optional
DEFINITION
This field identifies the intermediary institution for the transfer of the funds.
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CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC or UKWN if BIC not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/or
O followed by a clearing code
/NETS/or
M A net settlement is taking place.
/SSIS/ M Standard settlement instructions are used.
M = Mandatory O = Optional
NETWORK VALIDATED RULES
The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
The BIC must not be a BEI, ie, must not be of subtype BEID, MCCO, TESP or TRCO (Error code(s): C05).
USAGE RULES
For matching purposes, option A must be used when available.
Please refer to the chapter Guidelines for this MT.
24. Field 57a: Receiving Agent
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
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PRESENCE
Mandatory
DEFINITION
This field identifies the financial institution and account where the payee will receive the amount sold.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC or UKWN if BIC not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/or
O followed by a clearing code
/NETS/or
M A net settlement is taking place.
/SSIS/ M Standard settlement instructions are used.
M = Mandatory O = Optional
CODES
With option D, one of the following codes may also be used:
NET When net settlement takes place
NONE When no settlement is taking place.
SSI When standing settlement instructions apply.
UNKNOWN When the settlement instructions are not known.
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NETWORK VALIDATED RULES
The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
The BIC must not be a BEI, ie, must not be of subtype BEID, MCCO, TESP or TRCO (Error code(s): C05).
USAGE RULES
For matching purposes, option A must be used when available.
Party Identifier in options A and D may be used to indicate a CHIPS Universal Identifier. When used, it must be precededby a double slash ’//’, and the code CH and 6 digits.
Please refer to the chapter Guidelines for this MT.
25. Field 58a: Beneficiary Institution
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC/BEI)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Optional
DEFINITION
This field specifies the institution in favour of which the payment is made.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC/BEI or UKWN if BIC/BEI not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
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/CLRC/ O followed by a clearing code
M = Mandatory O = Optional
NETWORK VALIDATED RULES
The BIC/BEI must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
USAGE RULES
For matching purposes, option A must be used when available.
Please refer to the chapter Guidelines for this MT.
26. Field 15C: New Sequence
FORMAT
Option C Empty field
PRESENCE
Mandatory in a conditional sequence (C2)
DEFINITION
This field specifies the start of optional sequence C Optional General Information.
USAGE RULES
This field may only be used when at least one other field in the optional sequence C is present and is otherwise not allowed.
Only the field tag must be present, the field is empty.
27. Field 29A: Contact Information
FORMAT
Option A 4*35x (Narrative)
PRESENCE
Optional in a conditional sequence (C2)
DEFINITION
This field specifies the name and/or telephone number of the person the Receiver may contact for any queries concerningthis transaction.
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CODES
At least one of the following should be used:
/DEPT/ followed by the name of the department
/FAXT/ followed by fax number
/NAME/ followed by the name of the contact person
/PHON/ followed by the telephone number
/TELX/ followed by the telex number
USAGE RULES
The codes do not need to be put on separate lines. It is the ’/’ at the beginning of a code and not the end-of-line that marksthe end of the information behind the previous code.
28. Field 24D: Dealing Method
FORMAT
Option D 4!c[/35x] (Method) (Additional Information)
PRESENCE
Optional in a conditional sequence (C2)
DEFINITION
This field specifies how the deal was agreed.
CODES
One of the following codes must be used, optionally followed with additional information (Error code(s): T68):
BROK Deal arranged by a voice broker.
ELEC Deal made via an electronic system (Reuters, EBS etc.).
FAXT Deal agreed by fax.
PHON Deal agreed on the phone.
TELX Deal agreed by telex.
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USAGE RULES
For voice brokers this field contains the code BROK. If the broker needs to be identified explicitly, field 88a must be used.
29. Field 84a: Dealing Branch Party A
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC/BEI)
Option B [/1!a][/34x][35x]
(Party Identifier)(Location)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Optional in a conditional sequence (C2)
DEFINITION
This field specifies the branch of party A with which the deal was done.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC/BEI or UKWN if BIC/BEI not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/ O followed by a clearing code
M = Mandatory O = Optional
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NETWORK VALIDATED RULES
The BIC/BEI must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
USAGE RULES
The absence of this field means that party A is the dealing branch.
30. Field 85a: Dealing Branch Party B
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC/BEI)
Option B [/1!a][/34x][35x]
(Party Identifier)(Location)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Optional in a conditional sequence (C2)
DEFINITION
This field specifies the branch of party B with which the deal was done.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC/BEI or UKWN if BIC/BEI not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/ O followed by a clearing code
M = Mandatory O = Optional
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NETWORK VALIDATED RULES
The BIC/BEI must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
USAGE RULES
The absence of this field means that party B is the dealing branch.
31. Field 88a: Broker Identification
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC/BEI)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Conditional (C2) in a conditional sequence (C2)
DEFINITION
This field specifies the broker which arranged the deal between party A and party B or, when two money brokers areinvolved, between party A and the other money broker.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC/BEI or UKWN if BIC/BEI not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/ O followed by a clearing code
M = Mandatory O = Optional
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NETWORK VALIDATED RULES
The BIC/BEI must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
USAGE RULES
This field is only used to identify voice brokers. Electronic brokerage systems must be identified in field 24D Dealing Method.
32. Field 71F: Broker’s Commission
FORMAT
Option F 3!a15d (Currency) (Amount)
PRESENCE
Conditional (C2) in a conditional sequence (C2)
DEFINITION
This field specifies the brokerage fee for a broker confirmation.
NETWORK VALIDATED RULES
Currency must be a valid ISO 4217 currency code (Error code(s): T52).
The integer part of Amount must contain at least one digit. A decimal comma is mandatory and is included in the maximumlength. The number of digits following the comma must not exceed the maximum number allowed for the specifiedcurrency (Error code(s): C03, T40, T43).
33. Field 26H: Counterparty’s Reference
FORMAT
Option H 16x
PRESENCE
Optional in a conditional sequence (C2)
DEFINITION
This field specifies the counterparty’s reference, if known.
34. Field 21G: Broker’s Reference
FORMAT
Option G 16x
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PRESENCE
Optional in a conditional sequence (C2)
DEFINITION
This field specifies the broker’s reference of the trade.
NETWORK VALIDATED RULES
This field must not start or end with a slash ’/’ and must not contain two consecutive slashes ’//’. (Error code(s): T26).
35. Field 72: Sender to Receiver Information
FORMAT
6*35x (Narrative)
The following line format must be used:
Line 1 /8c/[additional information] Lines 2-6 [//continuation of additional information]
-or-[/8c/[additional information]]
PRESENCE
Optional in a conditional sequence (C2)
DEFINITION
This field specifies additional information for the Receiver and applies to the whole message.
USAGE RULES
The structured format may be used for bilaterally agreed codes.
Each code used must be put between slashes and appear at the beginning of a line.
All alphabetic characters in a code must be in upper case.
Additional explanatory information, which may be continued on the next lines, is preceded by a double slash ’//’. Narrativetext that is not qualified by a code must start with a double slash ’//’ on a new line, and should preferably be the last infor-mation in this field.
Field 72 must not be used for information for which another field is intended.
The use of this field with unstructured text may require manual intervention and thus cause delay in automated systems.
36. Field 15D: New Sequence
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FORMAT
Option D Empty field
PRESENCE
Mandatory in a conditional sequence (C3)
DEFINITION
This field specifies the start of optional sequence D Split Settlement Details.
USAGE RULES
Only the field tag must be present, the field is empty.
37. Field 17A: Buy (Sell) Indicator
FORMAT
Option A 1!a (Indicator)
PRESENCE
Mandatory in a conditional sequence (C3)
DEFINITION
This field specifies whether party A receives or pays the amount specified in field 32B Currency, Amount of sequence D.
CODES
One of the following codes must be used (Error code(s): T36):
N Party A pays the amount.
Y Party A receives the amount.
USAGE RULES
Only the field tag must be present, the field is empty.
38. Field 32B: Currency, Amount
FORMAT
Option B 3!a15d (Currency) (Amount)
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PRESENCE
Mandatory in a conditional sequence (C3)
DEFINITION
This field specifies an amount to be settled when there is a split settlement.
NETWORK VALIDATED RULES
Currency must be a valid ISO 4217 currency code (Error code(s): T52).
The integer part of Amount must contain at least one digit. A decimal comma is mandatory and is included in the maximumlength. The number of digits following the comma must not exceed the maximum number allowed for the specifiedcurrency (Error code(s): C03, T40, T43).
39. Field 53a: Delivery Agent
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Optional in a conditional sequence (C3)
DEFINITION
This field identifies the financial institution from which the payer will transfer the amount specified in field 32B Currency,Amount of sequence D.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC or UKWN if BIC not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
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/GBSC/ O followed by UK domestic sort code
/CLRC/or
O followed by a clearing code
/NETS/or
M A net settlement is taking place.
/SSIS/ M Standard settlement instructions are used.
M = Mandatory O = Optional
NETWORK VALIDATED RULES
The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
The BIC must not be a BEI, ie, must not be of subtype BEID, MCCO, TESP or TRCO (Error code(s): C05).
USAGE RULES
For matching purposes, option A must be used when available.
Field 53a is used only when the payer wants to inform the payee where the funds come from.
Please refer to the chapter Guidelines for this MT.
40. Field 56a: Intermediary
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Optional in a conditional sequence (C3)
DEFINITION
This field identifies the intermediary institution for the transfer of the funds.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC or UKWN if BIC not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
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/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/or
O followed by a clearing code
/NETS/or
M A net settlement is taking place.
/SSIS/ M Standard settlement instructions are used.
M = Mandatory O = Optional
NETWORK VALIDATED RULES
The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
The BIC must not be a BEI, ie, must not be of subtype BEID, MCCO, TESP or TRCO (Error code(s): C05).
USAGE RULES
For matching purposes, option A must be used when available.
Please refer to the chapter Guidelines for this MT.
41. Field 57a: Receiving Agent
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Mandatory in a conditional sequence (C3)
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DEFINITION
This field identifies the financial institution and account where the payee will receive the amount specified in field 32BCurrency, Amount in sequence D.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC or UKWN if BIC not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/or
O followed by a clearing code
/NETS/or
M A net settlement is taking place.
/SSIS/ M Standard settlement instructions are used.
M = Mandatory O = Optional
CODES
With option D, one of the following codes may also be used:
NET When net settlement takes place
NONE When no settlement is taking place.
SSI When standing settlement instructions apply.
UNKNOWN When the settlement instructions are not known.
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NETWORK VALIDATED RULES
The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
The BIC must not be a BEI, ie, must not be of subtype BEID, MCCO, TESP or TRCO (Error code(s): C05).
USAGE RULES
For matching purposes, option A must be used when available.
Party Identifier in options A and D may be used to indicate a CHIPS Universal Identifier. When used, it must be precededby a double slash ’//’, and the code CH and 6 digits.
Please refer to the chapter Guidelines for this MT.
42. Field 58a: Beneficiary Institution
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC/BEI)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Optional in a conditional sequence (C3)
DEFINITION
This field specifies the institution or corporate in favour of which the payment is made.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC/BEI or UKWN if BIC/BEI not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
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/CLRC/ O followed by a clearing code
M = Mandatory O = Optional
NETWORK VALIDATED RULES
The BIC/BEI must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
USAGE RULES
For matching purposes, option A must be used when available.
Please refer to the chapter Guidelines for this MT.
43. Field 16A: Number of Settlements
FORMAT
Option A 5n (Number)
PRESENCE
Mandatory in a conditional sequence (C3)
DEFINITION
This field specifies the total number of settlements to be done and serves as an end-of-split settlements to indicate the end ofthe repetitions.
NETWORK VALIDATED RULES
Number must equal the number of repetitions within sequence D (Error code(s): D96).
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MT 303 Forex/Currency Option Allocation Instruction
Note: The use of this message type requires Message User Group (MUG) registration.
MT 303 ScopeThis message is sent by an instructing party, eg, a fund manager, or its authorised representative, to an executing broker toinstruct the allocation of either a block foreign exchange trade or a block currency option.
The MT 303 contains both the terms of the block trade and the individual allocations.
The executing party will reply by sending separate MT 300 Foreign Exchange Confirmations confirming each individual allocation.
The message may be sent to
cancel and amend the block trade and the complete set of allocationsamend a number of individual allocations.
MT 303 Format Specifications
MT 303 Forex/Currency Option Allocation Instruction
Status Tag Field Name Content/Options No.
Mandatory Sequence A General Information
M 15A New Sequence (CrLf) 1
M 20 Sender’s Reference 16x 2
O 21 Related Reference 16x 3
M 22A Type of Operation 4!c 4
M 94A Scope of Operation 4!c 5
M 22C Common Reference 4!a2!c4!n4!a2!c 6
M 82a Fund Manager A, D or J 7
M 87a Executing Broker A, D or J 8
O 29A Contact Information 4*35x 9
O 72 Sender to Receiver Information 6*35x 10
Optional Sequence B Forex Transaction Details
M 15B New Sequence (CrLf) 11
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Status Tag Field Name Content/Options No.
M 30T Trade Date 8!n 12
M 30V Value Date 8!n 13
M 36 Exchange Rate 12d 14
M 32B Currency, Amount Bought 3!a15d 15
M 33B Currency, Amount Sold 3!a15d 16
O 77D Terms and Conditions 6*35x 17
Optional Sequence C Currency Option Details
M 15C New Sequence (CrLf) 18
M 23B Identification of the Option 4!c 19
M 17A Buy (Sell) Indicator 1!a 20
M 30T Trade Date 8!n 21
O 30X Earliest Exercise Date 8!n 22
O 30F Final Settlement Date 8!n 23
M 29C Expiry Location 35x 24
M 13E Expiry Date and Time 8!n4!n 25
M 32B Currency, Amount Bought 3!a15d 26
M 36A Strike Price 12d 27
M 33B Currency, Amount Sold 3!a15d 28
M 39P Premium Price 4!c/3!a15d 29
M 30P Premium Payment Date 8!n 30
M 34B Premium Currency and Amount 3!a15d 31
O 77D Terms and Conditions 6*35x 32
Optional Repetitive Sequence D Allocation Details----->
M 15D New Sequence (CrLf) 33
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Status Tag Field Name Content/Options No.
M 28C Entry Number, Page Number 5n[/5n] 34
M 21A Reference of the Individual Allocation 16x 35
M 83a Fund A, D or J 36
Mandatory Sub-Sequence D1 Amount Bought
M 32B Currency, Amount Bought 3!a15d 37
O 53a Delivery Agent A, D or J 38
O 56a Intermediary A, D or J 39
M 57a Receiving Agent A, D or J 40
Mandatory Sub-Sequence D2 Amount Sold
M 33B Currency, Amount Sold 3!a15d 41
O 53a Delivery Agent A, D or J 42
O 56a Intermediary A, D or J 43
M 57a Receiving Agent A, D or J 44
O 58a Beneficiary Institution A, D or J 45
Optional Sub-Sequence D3 Premium
M 34B Premium Currency and Amount 3!a15d 46
O 53a Delivery Agent A, D or J 47
O 56a Intermediary A, D or J 48
M 57a Receiving Agent A, D or J 49
O 58a Beneficiary Institution A, D or J 50
-----|
M = Mandatory O = Optional
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MT 303 Network Validated RulesC1
In sequence A, the presence of field 21 depends on field 22A as follows (Error code(s): C84):
Sequence Aif field 22A is...
Sequence Athen field 21 is...
AMNA Mandatory
AMND Mandatory
CANC Mandatory
DUPL Optional
NEWT Optional
C2
Sequences B and C are mutually exclusive. Field 94A in sequence A specifies which type of transaction is allocatedand thus which of the two sequences is present (Error code(s): C92):
Sequence Aif field 94A is...
then Sequence B is... then Sequence C is...
FORX Mandatory Not allowed
FXOP Not allowed Mandatory
C3
In sequence C, the presence of field 30X depends on field 23B as follows (Error code(s): C95):
Sequence Cif field 23B is...
Sequence Cthen field 30X is...
CLAM or PTAM Mandatory
CLEU or PTEU Not allowed
C4
The presence of sequence D depends on the value of field 22A in sequence A as follows (Error code(s): C97):
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Sequence Aif field 22A is ...
then Sequence D is...
AMNA or AMND or DUPL or NEWT Mandatory
CANC Optional
C5
In sequence D, subsequence D3, the presence of field 34B and subsequent party fields depends on field 94A ofsequence A as follows (Error code(s): C99):
Sequence Aif field 94A is ...
then Sequence D3 is...
FORX Not allowed
FXOP Mandatory
MT 303 Usage RulesThe MT 303 can only be sent or received over FIN by financial institutions registered with SWIFT in the MT 303message user group. Should a registered user receive an MT 303 without having a bilateral agreement with the fundmanager, the Receiver should query the message according to normal banking practice.To cancel a previously sent MT 303 and the complete set of instructions (field 22A is CANC), field 21 must containthe reference, ie, the content of field 20, of the message containing the allocation instruction to be cancelled; the cancellation message must contain a copy of at least the mandatory fields of the general information and trade informa-tion blocks.To amend the terms of the block trade and consequently the complete set or a number of individual allocations (field22A is AMND), field 21 must contain the reference, ie, the content of field 20, of the message containing the allocation instruction to be amended; the amendment message must contain both the unchanged and the changed/new fields of the original instruction, ie, it must contain the general information, trade information and a complete set of new allocationblocks. The amendment message will replace the original message.To amend a number of individual allocations (field 22A is AMNA): field 21 must contain the reference, ie, the contentof field 20, of the message containing the allocations to be amended; the amendment message must contain the manda-tory fields of both the general information and trade information blocks. Each individual ’changed’ allocation mustcontain the reference (field 21A) of the allocation which has to be modified. It must also contain both the unchangedand the changed/new fields of the original individual allocation.While the maximum message length is 10,000 characters, it may occur that more than one MT 303 is needed for theentire set of allocations. In this case additional MT 303s are sent. These MT 303s must contain the same general infor-mation and trade information blocks as the first MT 303. Within the allocation details block, the page number will beincreased by one compared to the previously sent message.
MT 303 GuidelinesTo cover securities transactions, fund managers may need to buy and sell currencies. The term ’fund managers’ includes investment managers, investment advisors, advisors and managers.
The fund manager arranges these deals either with an independent (third party) forex institution, the executing broker, orwith the treasury department of his custodian.
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The fund manager often ’groups’ trades needed to cover or hedge securities for several funds. This means that the purchas-ing and selling needs of currencies are added together and executed as one single trade.
After the trade has been agreed, it is allocated to the different funds using the MT 303. So, after the global deal has beenagreed, the fund manager sends an MT 303 to the executing broker. The broker will answer by sending one MT 300 per allocation.
The MT 303 is an allocation message sent by the fund manager. Each allocation is for a different fund, ie, a different benefi-ciary. It is a unilateral message.
Information Flow
The fund manager and the executing broker should agree up-front if they will exchange an MT 300 to confirm the blocktrade or if sending the MT 303 with the individual MTs 300 as answers is sufficient.
Settlement Details
The table below shows how the different settlement parties involved in the deal can be identified.
Party A is the fund manager and party B is the executing broker.
Whenever possible, users should use option A or J to identify institutions in these fields. Use of free text, ie, option D,except when used to specify recognized code words, is strongly discouraged. Option D not only precludes party B from matching and further processing the message automatically but also is contrary to the message text standards which statethat option D is only to be used when no other option is available.
Normally, the beneficiary is party A for the amount bought and party B for the amount sold. If party A or party B forwardsthe funds to an ultimate beneficiary institution, this institution is included in field 58a of the amount sold.
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Party A services account of party B. No separate settlement messages are sent.
Party A will RECEIVE funds from Party B Party A will PAY funds to Party B
Party A will debit party B’s account Party A will credit party B’s account
:53a: not used :53a: not used
:56a: not used :56a: not used
:57a:[/account no of party B]party A
:57a:[/account no of party B]party A
Party B services account of party A. No separate settlement messages are sent.
Party A will RECEIVE funds from Party B Party A will PAY funds to Party B
Party B will credit party A’s account Party B will debit party A’s account
:53a: not used :53a: not used
:56a: not used :56a: not used
:57a:[/account no of party A]party B
57a:[/account no of party A]party B
Beneficiary’s account serviced by a financial institution other than party A or party B.
The payer sends an MT 202 to its correspondent who will then send an MT 205 or equivalent to the correspondent ofthe payee.
The correspondent can be a branch of the party.
Party A will RECEIVE funds from Party B Party A will PAY funds to Party B
Credit to party A’s account with that financial institution
Credit to party B’s account with that financial insti-tution
[:53a:Correspondent of party B] [:53a:Correspondent of party A]
:56a: not used :56a: not used
:57a:[/account no of party A]correspondent of party A
:57a:[/account no of party B]correspondent of party B
Beneficiary receives the funds through another institution (eg, BANK x for party x).
The payer sends an MT 202 to its correspondent. The correspondent will then send an MT 205 or equivalent to the correspondent of BANK x, ie, CORR x. CORR x will then send an MT 202 to BANK x who will then send an MT 950to party x.
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Field 56a identifies where BANK x will receive the funds.
Party A will RECEIVE funds from Party B Party A will PAY funds to Party B
BANK A will receive the funds for party A BANK B will receive the funds for party B
[:53a:Correspondent of party B] [:53a:Correspondent of party A]
:56a:[/account no of BANK A]CORR A
:56a:[/account no of BANK B]CORR B
:57a:[/account no of party A]BANK A
:57a:[/account no of party B]BANK B
Beneficiary to receive the funds directly through a clearing system.
The payer sends an MT 202 to its correspondent who will then send an MT 202 the payee.
Party A will RECEIVE funds from Party B Party A will PAY funds to Party B
Party A will receive the funds through clearing Party B will receive the funds through clearing
[:53a:Correspondent of party B] [:53a:Correspondent of party A]
:56a: not used :56a: not used
:57a:/CLEARparty A
:57a:/CLEARparty B
The counterparties use their standing settlement instructions.
Party A will RECEIVE funds from Party B Party A will PAY funds to Party B
:53a: not used :53a: not used
:56a: not used :56a: not used
:57D:SSI :57D:SSI
The payment flows are netted based on a bilateral agreement.
Party A will RECEIVE funds from Party B Party A will PAY funds to Party B
:53a: not used :53a: not used
:56a: not used :56a: not used
:57D:NET :57D:NET
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There is no payment (amount is zero) or the settlement details are irrelevant.
Party A will RECEIVE funds from Party B Party A will PAY funds to Party B
:53a: not used :53a: not used
:56a: not used :56a: not used
:57D:NONE :57D:NONE
The settlement details are not known at the time the confirmation is issued.
Party A will RECEIVE funds from Party B Party A will PAY funds to Party B
:53a: not used :53a: not used
:56a: not used :56a: not used
:57D:UNKNOWN :57D:UNKNOWN
Note: It is only necessary to quote an account number when multiple accounts are serviced for the same institution.
MT 303 Field Specifications
1. Field 15A: New Sequence
FORMAT
Option A Empty field
PRESENCE
Mandatory
DEFINITION
This field specifies the beginning of mandatory sequence A General Information.
USAGE RULES
Only the field tag must be present, the field is empty.
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2. Field 20: Sender’s Reference
FORMAT
16x
PRESENCE
Mandatory
DEFINITION
This field specifies the reference number assigned by the Sender to unambiguously identify the instruction, ie, the numberuniquely identifying the instruction to the fund manager.
NETWORK VALIDATED RULES
This field must not start or end with a slash ’/’ and must not contain two consecutive slashes ’//’ (Error code(s): T26).
USAGE RULES
The reference assigned to an instruction is used for cross-referencing purposes in subsequent messages, such as followingMTs 303 and statement messages, as well as queries. It is therefore essential for the identification of the original MT 303sent that this reference be unique.
3. Field 21: Related Reference
FORMAT
16x
PRESENCE
Conditional (C1)
DEFINITION
This field contains the identification of the instruction to which the current message is related.
NETWORK VALIDATED RULES
This field must not start or end with a slash ’/’ and must not contain two consecutive slashes ’//’ (Error code(s): T26).
USAGE RULES
When used, this field must contain field 20 Sender’s Reference of the previous MT 303 which is to be amended or cancelledby this message, or the reference of the telex/fax of the original confirmation.
4. Field 22A: Type of Operation
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FORMAT
Option A 4!c (Function)
PRESENCE
Mandatory
DEFINITION
This field specifies the function of the message.
CODES
Function must contain one of the following codes (Error code(s): T36):
AMNA Amends individual allocations contained in a previous instruction.Used to add settlement agents to a number of individual allocations contained in an MT 303 previ-ously sent-or-to correct error(s) in a number of individual allocations contained in an MT 303 previously sent.
AMND Replaces a previously sent instruction with the amended one contained in this message.Used to add settlement agents to an MT 303 previously sent-or-to correct error(s) in an MT 303 previously sent.
CANC Cancels a previously sent instruction.Used to cancel an MT 303 previously sent-or-to cancel an MT 303 which contains erroneous information
DUPL Duplicates a previously sent instruction.Used to inform the receiver that an instruction has already been sent by telex, fax or SWIFT
NEWT New instruction.Used to send an instruction for the first time-or-to send a corrected MT 303 when the erroneous one was cancelled using an MT 303 with function CANC.
5. Field 94A: Scope of Operation
FORMAT
Option A 4!c (Scope)
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PRESENCE
Mandatory
DEFINITION
This field identifies the scope of the message, ie, the type of the underlying trade.
CODES
Scope must contain one of the following codes (Error code(s): T36):
FORX Foreign exchange transaction.
FXOP Foreign currency option transaction.
6. Field 22C: Common Reference
FORMAT
Option C 4!a2!c4!n4!a2!c (Bank Code 1) (Location Code 1)(Reference Code) (Bank Code 2)(Location Code 2)
PRESENCE
Mandatory
DEFINITION
This field contains a reference common to both the Sender and the Receiver.
NETWORK VALIDATED RULES
This field consists of the bank and location codes (Error code(s): T95) (from the ISO Bank Identifier Code) of both theSender and the Receiver of the MT 303. These codes must appear in alphabetical order (letters take precedence overnumbers) (Error code(s): T96).
Location Code 1 and Bank Code 2 will be separated by a four digit Reference Code. Reference Code is a number based oneither field 36 in sequence B if field 94A in sequence A is FORX or field 36A in sequence C if field 94A in sequence A isFXOP. If there are no digits to the left of it, the space must be zero filled (Error code(s): T22).
7. Field 82a: Fund Manager
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC/BEI)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
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PRESENCE
Mandatory
DEFINITION
This field identifies the fund manager.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC/BEI or UKWN if BIC/BEI not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/ O followed by a clearing code.
M = Mandatory O = Optional
NETWORK VALIDATED RULES
The BIC/BEI must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
8. Field 87a: Executing Broker
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC/BEI)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
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PRESENCE
Mandatory
DEFINITION
This field identifies the executing broker.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC/BEI or UKWN if BIC/BEI not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/ O followed by a clearing code.
M = Mandatory O = Optional
NETWORK VALIDATED RULES
The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
9. Field 29A: Contact Information
FORMAT
Option A 4*35x (Narrative)
PRESENCE
Optional
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DEFINITION
This field specifies the contact name and/or telephone number the Receiver may contact for any queries concerning this transaction.
CODES
At least one of the following should be used:
/DEPT/ followed by the name of the department
/FAXT/ followed by fax number.
/NAME/ followed by the name of the contact person
/PHON/ followed by the telephone number
/TELX/ followed by the telex number
USAGE RULES
The codes do not need to be put on separate lines. It is the slash ’/’ at the beginning of a code and not the end-of-line thatmarks the end of the information behind the previous code.
10. Field 72: Sender to Receiver Information
FORMAT
6*35x (Narrative)
The following line format must be used:
Line 1 /8c/[additional information] Lines 2-6 [//continuation of additional information]
-or-[/8c/[additional information]]
PRESENCE
Optional
DEFINITION
This field specifies additional information for the Receiver, which applies to the whole message.
CODES
One of the following codes, or bilaterally agreed codes must be used in this field:
BROKER Identification of the broker negotiating the contract on behalf of one of the parties.
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ELEC Deal has been arranged via an electronic means. This code may be followed by an indication of thespecific electronic means used for arranging the deal.
PHON Deal was arranged by telephone
TELEX Deal was arranged by telex
USAGE RULES
Each code used must be put between slashes and appear at the beginning of a line.
All alphabetic characters in a code must be in upper case.
Additional explanatory information, which may be continued on the next lines, is preceded by a double slash ’//’. Narrativetext that is not qualified by a code must start with a double slash ’//’ on a new line, and should preferably be the last infor-mation in this field.
Field 72 must not be used for information for which another field is intended.
The use of this field with unstructured text may require manual intervention and thus cause delay in automated systems.
11. Field 15B: New Sequence
FORMAT
Option B Empty field
PRESENCE
Mandatory in a conditional sequence (C2)
DEFINITION
This field specifies the start of optional sequence B Forex Transaction Details.
USAGE RULES
Only the field tag must be present, the field is empty.
12. Field 30T: Trade Date
FORMAT
Option T 8!n (Date)
PRESENCE
Mandatory in a conditional sequence (C2)
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DEFINITION
This field specifies the date the block trade was agreed between the fund manager and the executing broker.
NETWORK VALIDATED RULES
Date must be a valid date expressed as YYYYMMDD (Error code(s): T50).
USAGE RULES
The trade date remains the same when a confirmation is amended (corrected/completed) unilaterally. When the terms of thedeal are renegotiated on a bilateral basis, the trade date reflects the date of renegotiation in the amend message.
13. Field 30V: Value Date
FORMAT
Option V 8!n (Date)
PRESENCE
Mandatory in a conditional sequence (C2)
DEFINITION
This field specifies the value date of the transaction.
NETWORK VALIDATED RULES
Date must be a valid date expressed as YYYYMMDD (Error code(s): T50).
14. Field 36: Exchange Rate
FORMAT
12d (Rate)
PRESENCE
Mandatory in a conditional sequence (C2)
DEFINITION
This field specifies the agreed exchange rate of the transaction. It is the rate as the deal was struck.
NETWORK VALIDATED RULES
The integer part of Rate must contain at least one digit. A decimal comma is mandatory and is included in the maximumlength (Error code(s): T40, T43).
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15. Field 32B: Currency, Amount Bought
FORMAT
Option B 3!a15d (Currency) (Amount)
PRESENCE
Mandatory in a conditional sequence (C2)
DEFINITION
This field specifies the block trade currency and amount bought by the fund manager.
NETWORK VALIDATED RULES
Currency must be a valid ISO 4217 currency code (Error code(s): T52).
The integer part of Amount must contain at least one digit. A decimal comma is mandatory and is included in the maximumlength. The number of digits following the comma must not exceed the maximum number allowed for the specifiedcurrency (Error code(s): C03, T40, T43).
16. Field 33B: Currency, Amount Sold
FORMAT
Option B 3!a15d (Currency) (Amount)
PRESENCE
Mandatory in a conditional sequence (C2)
DEFINITION
This field specifies the block trade currency and amount sold by the fund manager.
NETWORK VALIDATED RULES
Currency must be a valid ISO 4217 currency code (Error code(s): T52).
The integer part of Amount must contain at least one digit. A decimal comma is mandatory and is included in the maximumlength. The number of digits following the comma must not exceed the maximum number allowed for the specifiedcurrency (Error code(s): C03, T40, T43).
17. Field 77D: Terms and Conditions
FORMAT
Option D 6*35x (Narrative)
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PRESENCE
Optional in a conditional sequence (C2)
DEFINITION
This field specifies the underlying legal agreement.
USAGE RULES
This field may refer to master agreements which have been put into place on a bilateral basis. It may also refer to local regu-lations or to specific conditions applicable to the trade.
If this field is not present, the deal conforms either to bilateral agreements or to usual banking practice.
18. Field 15C: New Sequence
FORMAT
Option C Empty field
PRESENCE
Mandatory in a conditional sequence (C2)
DEFINITION
This field specifies the start of optional sequence C Currency Option Details.
USAGE RULES
Only the field tag must be present, the field is empty.
19. Field 23B: Identification of the Option
FORMAT
Option B 4!c (Type)
PRESENCE
Mandatory in a conditional sequence (C2)
DEFINITION
This field identifies the type and the style of the currency option.
CODES
One of the following codes must be used (Error code(s): T36):
CLAM Call, American style.
CLEU Call, European style.
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PTAM Put, American style.
PTEU Put, European style.
20. Field 17A: Buy (Sell) Indicator
FORMAT
Option A 1!a (Indicator)
PRESENCE
Mandatory in a conditional sequence (C2)
DEFINITION
This field specifies whether the fund manager bought or sold the option.
CODES
Indicator must contain one of the following codes must be used (Error code(s): T36):
N Option was sold by the fund manager, it receives the premium.
Y Option was bought by the fund manager, it pays the premium.
21. Field 30T: Trade Date
FORMAT
Option T 8!n (Date)
PRESENCE
Mandatory in a conditional sequence (C2)
DEFINITION
This field specifies the date the block trade was agreed between the fund manager and the executing broker.
NETWORK VALIDATED RULES
Date must be a valid date expressed as YYYYMMDD (Error code(s): T50).
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USAGE RULES
The trade date remains the same when a confirmation is amended (corrected/completed) unilaterally. When the terms of thedeal are renegociated on a bilateral basis, the trade date reflects the date of renegociation in the amend message.
22. Field 30X: Earliest Exercise Date
FORMAT
Option X 8!n (Date)
PRESENCE
Conditional (C3) in a conditional sequence (C2)
DEFINITION
This field specifies, in the case of an American style option, the earliest exercise date of this option.
NETWORK VALIDATED RULES
Date must be a valid date expressed as YYYYMMDD (Error code(s): T50).
23. Field 30F: Final Settlement Date
FORMAT
Option F 8!n (Date)
PRESENCE
Optional in a conditional sequence (C2)
DEFINITION
This field specifies the value date (or latest value date for an American style option) of the foreign exchange transaction inwhich the option may result.
NETWORK VALIDATED RULES
Date must be a valid date expressed as YYYYMMDD (Error code(s): T50).
USAGE RULES
The default value for the final settlement date is two business days after the expiry date.
24. Field 29C: Expiry Location
FORMAT
Option C 35x
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PRESENCE
Mandatory in a conditional sequence (C2)
DEFINITION
This field specifies the location at which the option expires.
25. Field 13E: Expiry Date and Time
FORMAT
Option E 8!n4!n (Date) (Time)
PRESENCE
Mandatory in a conditional sequence (C2)
DEFINITION
This field specifies the date and time at which the option expires.
NETWORK VALIDATED RULES
Date must be a valid date expressed as YYYYMMDD (Error code(s): T50).
Time must be a valid time expressed as HHMM (Error code(s): T38).
26. Field 32B: Currency, Amount Bought
FORMAT
Option B 3!a15d (Currency) (Amount)
PRESENCE
Mandatory in a conditional sequence (C2)
DEFINITION
This field specifies the contract currency and amount of the currency option.
NETWORK VALIDATED RULES
Currency must be a valid ISO 4217 currency code (Error code(s): T52).
The integer part of Amount must contain at least one digit. A decimal comma is mandatory and is included in the maximumlength. The number of digits following the comma must not exceed the maximum number allowed for the specifiedcurrency (Error code(s): C03, T40, T43).
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27. Field 36A: Strike Price
FORMAT
Option A 12d (Rate)
PRESENCE
Mandatory in a conditional sequence (C2)
DEFINITION
This field specifies the rate at which the underlying currency will be exchanged for the counter currency if the option is exercised.
USAGE RULES
The integer part of Rate must contain at least one digit. The decimal comma is mandatory and is included in the maximumlength (Error code(s): T40, T43).
28. Field 33B: Currency, Amount Sold
FORMAT
Option B 3!a15d (Currency) (Amount)
PRESENCE
Mandatory in a conditional sequence (C2)
DEFINITION
This field specifies the counter currency and amount of the currency option.
NETWORK VALIDATED RULES
Currency must be a valid ISO 4217 currency code (Error code(s): T52).
The integer part of Amount must contain at least one digit. A decimal comma is mandatory and is included in the maximumlength. The number of digits following the comma must not exceed the maximum number allowed for the specifiedcurrency (Error code(s): C03, T40, T43).
29. Field 39P: Premium Price
FORMAT
Option P 4!c/3!a15d (Type) (Currency) (Amount)
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PRESENCE
Mandatory in a conditional sequence (C2)
DEFINITION
This field specifies the type of price, the currency code of the price and the percent, points or amount of the premium.
CODES
Type must be specified using one of the following codes:
CURR Price is expressed as an amount;the amount represents the premium amount.
PNTS Price is expressed as points;the amount represents a number of points.
PRCT Price is expressed as a percentage; the amount represents a percentage.
NETWORK VALIDATED RULES
Currency must be a valid ISO 4217 currency code (Error code(s): T52).
The integer part of Amount must contain at least one digit. A decimal comma is mandatory and is included in the maximumlength (Error code(s): T40, T43).
If Type is CURR, the number of digits following the comma in Amount must not exceed the maximum number allowed forthe specified currency (Error code(s): D01).
30. Field 30P: Premium Payment Date
FORMAT
Option P 8!n (Date)
PRESENCE
Mandatory in a conditional sequence (C2)
DEFINITION
This field specifies the value date of the premium payment.
NETWORK VALIDATED RULES
Date must be a valid date expressed as YYYYMMDD (Error code(s): T50).
31. Field 34B: Premium Currency and Amount
FORMAT
Option B 3!a15d (Currency) (Amount)
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PRESENCE
Mandatory in a conditional sequence (C2)
DEFINITION
This field specifies the premium currency and amount which the buyer of the option pays to the seller.
NETWORK VALIDATED RULES
Currency must be a valid ISO 4217 currency code (Error code(s): T52).
The integer part of Amount must contain at least one digit. A decimal comma is mandatory and is included in the maximumlength. The number of digits following the comma must not exceed the maximum number allowed for the specifiedcurrency (Error code(s): C03, T40, T43).
32. Field 77D: Terms and Conditions
FORMAT
Option D 6*35x (Narrative)
PRESENCE
Optional in a conditional sequence (C2)
DEFINITION
This field specifies the underlying legal agreement.
CODES
One of the following codes must be used:
/ICOM/ The option conforms to ICOM terms.
/NONICOM/ The option is not subject to ICOM terms.
/VARICOM/ Indicates variations to ICOM terms.
USAGE RULES
The codes are used as follows:
/ICOM/ The default value and can be omitted.
/NONICOM/ The agreed terms must be stated or referred to following the code.
/VARICOM/ The related variations must be stated or referred to following the code.
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33. Field 15D: New Sequence
FORMAT
Option C Empty field
PRESENCE
Mandatory in a conditional sequence (C4)
DEFINITION
This field specifies the start of the optional repetitive sequence D Allocation Details.
USAGE RULES
Only the field tag must be present, the field is empty.
34. Field 28C: Entry Number, Page Number
FORMAT
Option C 5n[/5n] (Entry Number) (Page Number)
PRESENCE
Mandatory in a conditional sequence (C4)
DEFINITION
This field contains the sequential number of the allocation (Entry Number), optionally followed by the sequence number ofthe message (Page Number) within that instruction when more than one MT 303 is sent for one instruction.
USAGE RULES
Entry Number starts with 1 for a new instruction. It is increased by one with each individual allocation even if more thanone MT 303 is sent for one instruction.
If used, Page Number always starts with 1. When several messages are sent to convey information about a single entry, thefirst message must contain ’/1’ in Page Number. This number must be incremented by one for each additional message.
Both Entry Number and Page Number enable the Receiver to put the different MTs 303 into sequence and thus form thecomplete allocation instruction.
35. Field 21A: Reference of the Individual Allocation
FORMAT
Option A 16x
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PRESENCE
Mandatory in a conditional sequence (C4)
DEFINITION
This field contains the identification of the individual allocation.
NETWORK VALIDATED RULES
This field must not start or end with a slash ’/’ and must not contain two consecutive slashes ’//’ (Error code(s): T26).
USAGE RULES
If the message is an amendment to individual allocations, ie, field 22A in sequence A is AMNA, in a previously sentMT 303, this field must contain the same values as the original allocations which have to be amended.
36. Field 83a: Fund
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC/BEI)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Mandatory in a conditional sequence (C4)
DEFINITION
This field specifies the fund, ie, the client to which the individual allocation is associated.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ O followed by the BIC/BEI or UKWN if BIC/BEI not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
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/GBSC/ O followed by UK domestic sort code
/CLRC/ O followed by a clearing code
NETWORK VALIDATED RULES
The BIC/BEI must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
37. Field 32B: Currency, Amount Bought
FORMAT
Option B 3!a15d (Currency) (Amount)
PRESENCE
Mandatory in a conditional sequence (C4)
DEFINITION
This field specifies the currency and amount bought, allocated to the fund specified in field 83a.
NETWORK VALIDATED RULES
Currency must be a valid ISO 4217 currency code (Error code(s): T52).
The integer part of Amount must contain at least one digit. A decimal comma is mandatory and is included in the maximumlength. The number of digits following the comma must not exceed the maximum number allowed for the specifiedcurrency (Error code(s): C03, T40, T43).
38. Field 53a: Delivery Agent
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Optional in a conditional sequence (C4)
DEFINITION
This field identifies the financial institution from which the payer will transfer the allocated amount bought.
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CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC or UKWN if BIC not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/ O followed by a clearing code
or
/NETS/ M A net settlement is taking place.
or
/SSIS/ M Standard settlement instructions are used.
NETWORK VALIDATED RULES
The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
The BIC must not be a BEI, ie, must not be of subtype BEID, MCCO, TESP or TRCO (Error code(s): C05).
USAGE RULES
Field 53a is used only when the payer wants to inform the payee where the funds come from.
Please refer to the chapter Guidelines for this MT.
39. Field 56a: Intermediary
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
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PRESENCE
Optional in a conditional sequence (C4)
DEFINITION
This field identifies the intermediary institution for the transfer of funds.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC or UKWN if BIC not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/ O followed by a clearing code
or
/NETS/ M A net settlement is taking place.
or
/SSIS/ M Standard settlement instructions are used.
NETWORK VALIDATED RULES
The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
The BIC must not be a BEI, ie, must not be of subtype BEID, MCCO, TESP or TRCO (Error code(s): C05).
USAGE RULES
Please refer to the chapter Guidelines for this MT.
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40. Field 57a: Receiving Agent
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Mandatory in a conditional sequence (C4)
DEFINITION
This field identifies the financial institution and account where the payee will receive the allocated amount bought.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC or UKWN if BIC not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/ O followed by a clearing code
or
/NETS/ M A net settlement is taking place.
or
/SSIS/ M Standard settlement instructions are used.
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CODES
With option D, one of the following codes may also be used:
NET When net settlement takes place
NONE When no settlement is taking place.
SSI When standing settlement instructions apply.
UNKNOWN When the settlement instructions are not known.
NETWORK VALIDATED RULES
The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
The BIC must not be a BEI, ie, must not be of subtype BEID, MCCO, TESP or TRCO (Error code(s): C05).
USAGE RULES
For matching purposes, option A must be used when available.
Party Identifier in options A and D may be used to indicate a CHIPS Universal Identifier. When used, it must be precededby a double slash ’//’, and the code CH and 6 digits.
Please refer to the chapter Guidelines for this MT.
41. Field 33B: Currency, Amount Sold
FORMAT
Option B 3!a15d (Currency) (Amount)
PRESENCE
Mandatory in a conditional sequence (C4)
DEFINITION
This field specifies the currency and amount sold, allocated to the fund specified in field 83a.
NETWORK VALIDATED RULES
Currency must be a valid ISO 4217 currency code (Error code(s): T52).
The integer part of Amount must contain at least one digit. A decimal comma is mandatory and is included in the maximumlength. The number of digits following the comma must not exceed the maximum number allowed for the specifiedcurrency (Error code(s): C03, T40, T43).
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42. Field 53a: Delivery Agent
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Optional in a conditional sequence (C4)
DEFINITION
This field identifies the financial institution from which the payer will transfer the allocated amount sold.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC or UKWN if BIC not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/ O followed by a clearing code
or
/NETS/ M A net settlement is taking place.
or
/SSIS/ M Standard settlement instructions are used.
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NETWORK VALIDATED RULES
The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
The BIC must not be a BEI, ie, must not be of subtype BEID, MCCO, TESP or TRCO (Error code(s): C05).
USAGE RULES
Field 53a is used only when the payer wants to inform the payee where the funds come from.
Please refer to the chapter Guidelines for this MT.
43. Field 56a: Intermediary
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Optional in a conditional sequence (C4)
DEFINITION
This field identifies the intermediary institution for the transfer of the funds.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC or UKWN if BIC not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/ O followed by a clearing code
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or
/NETS/ M A net settlement is taking place.
or
/SSIS/ M Standard settlement instructions are used.
NETWORK VALIDATED RULES
The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
The BIC must not be a BEI, ie, must not be of subtype BEID, MCCO, TESP or TRCO (Error code(s): C05).
USAGE RULES
Please refer to the chapter Guidelines for this MT.
44. Field 57a: Receiving Agent
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Mandatory in a conditional sequence (C4)
DEFINITION
This field identifies the financial institution and account where the payee will receive the allocated amount sold.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC or UKWN if BIC not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
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/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/ O followed by a clearing code
or
/NETS/ M A net settlement is taking place.
or
/SSIS/ M Standard settlement instructions are used.
CODES
With option D, one of the following codes may also be used:
NET When net settlement takes place
NONE When no settlement is taking place.
SSI When standing settlement instructions apply.
UNKNOWN When the settlement instructions are not known.
NETWORK VALIDATED RULES
The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
The BIC must not be a BEI, ie, must not be of subtype BEID, MCCO, TESP or TRCO (Error code(s): C05).
USAGE RULES
For matching purposes, option A must be used when available.
Party Identifier in options A and D may be used to indicate a CHIPS Universal Identifier. When used, it must be precededby a double slash ’//’, and the code CH and 6 digits.
Please refer to the chapter Guidelines for this MT.
45. Field 58a: Beneficiary Institution
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC/BEI)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
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PRESENCE
Optional in a conditional sequence (C4)
DEFINITION
This field specifies the institution in favour of which the payment is done.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC/BEI or UKWN if BIC/BEI not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/ O followed by a clearing code.
M = Mandatory O = Optional
NETWORK VALIDATED RULES
The BIC/BEI must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
USAGE RULES
Please refer to the chapter Guidelines for this MT.
46. Field 34B: Premium Currency and Amount
FORMAT
Option B 3!a15d (Currency) (Amount)
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PRESENCE
Mandatory in a conditional sequence (C4, C5)
DEFINITION
This field specifies the currency and amount of the premium which is allocated to the fund specified in field 83a.
NETWORK VALIDATED RULES
Currency must be a valid ISO 4217 currency code (Error code(s): T52).
The integer part of Amount must contain at least one digit. A decimal comma is mandatory and is included in the maximumlength. The number of digits following the comma must not exceed the maximum number allowed for the specifiedcurrency (Error code(s): C03, T40, T43).
47. Field 53a: Delivery Agent
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Optional in a conditional sequence (C4, C5)
DEFINITION
This field identifies the financial institution from which the payer will transfer the allocated premium.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC or UKWN if BIC not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
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/GBSC/ O followed by UK domestic sort code
/CLRC/ O followed by a clearing code
or
/NETS/ M A net settlement is taking place.
or
/SSIS/ M Standard settlement instructions are used.
NETWORK VALIDATED RULES
The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
The BIC must not be a BEI, ie, must not be of subtype BEID, MCCO, TESP or TRCO (Error code(s): C05).
USAGE RULES
Field 53a is used only when the payer wants to inform the payee where the funds come from.
Please refer to the chapter Guidelines for this MT.
48. Field 56a: Intermediary
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Optional in a conditional sequence (C4, C5)
DEFINITION
This field identifies the intermediary institution for the transfer of the funds.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC or UKWN if BIC not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
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/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/ O followed by a clearing code
or
/NETS/ M A net settlement is taking place.
or
/SSIS/ M Standard settlement instructions are used.
NETWORK VALIDATED RULES
The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
The BIC must not be a BEI, ie, must not be of subtype BEID, MCCO, TESP or TRCO (Error code(s): C05).
USAGE RULES
Please refer to the chapter Guidelines for this MT.
49. Field 57a: Receiving Agent
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Mandatory in a conditional sequence (C4, C5)
DEFINITION
This field identifies the financial institution and account where the payee will receive the allocated premium.
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CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC or UKWN if BIC not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/ O followed by a clearing code
or
/NETS/ M A net settlement is taking place.
or
/SSIS/ M Standard settlement instructions are used.
NETWORK VALIDATED RULES
The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
The BIC must not be a BEI, ie, must not be of subtype BEID, MCCO, TESP or TRCO (Error code(s): C05).
USAGE RULES
For matching purposes, option A must be used when available.
Party Identifier in options A and D may be used to indicate a CHIPS Universal Identifier. When used, it must be precededby a double slash ’//’, and the code CH and 6 digits.
Please refer to the chapter Guidelines for this MT.
50. Field 58a: Beneficiary Institution
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FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC/BEI)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Optional in a conditional sequence (C4, C5)
DEFINITION
This field specifies the institution in favour of which the payment is done.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC/BEI or UKWN if BIC/BEI not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/ O followed by a clearing code.
M = Mandatory O = Optional
NETWORK VALIDATED RULES
The BIC/BEI must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
USAGE RULES
Please refer to the chapter Guidelines for this MT.
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MT 304 Advice/Instruction of a Third Party Deal
Note: The use of this message type requires Message User Group (MUG) registration.
MT 304 ScopeThis message is sent by a fund manager to a custodian bank as an advice of/instruction to settle a third party foreignexchange deal.
The definition of third party must be agreed up front between the fund manager and the custodian relative to deals executedby the custodians’ treasury area on behalf of the fund manager.
It is used to:
provide details about a new dealprovide a settlement notificationamend a previously sent messagecancel a previously sent message.
MT 304 Format Specifications
MT 304 Advice/Instruction of a Third Party Deal
Status Tag Field Name Content/Options No.
Mandatory Sequence A General Information
M 15A New Sequence (CrLf) 1
M 20 Sender’s Reference 16x 2
O 21 Related Reference 16x 3
M 22A Type of Operation 4!c 4
M 94A Scope of Operation 4!c 5
O 17O Open Indicator 1!a 6
O 17F Final Close Indicator 1!a 7
O 17N Net Settlement Indicator 1!a 8
M 83a Fund A, D or J 9
M 82a Fund Manager A, D or J 10
M 87a Executing Broker A, D or J 11
Mandatory Sequence B Forex Transaction Details
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Status Tag Field Name Content/Options No.
M 15B New Sequence (CrLf) 12
M 30T Trade Date 8!n 13
M 30V Value Date 8!n 14
M 36 Exchange Rate 12d 15
Mandatory Subsequence B1 Amount Bought
M 32B Currency, Amount Bought 3!a15d 16
M 53a Delivery Agent A, D or J 17
O 56a Intermediary A, D or J 18
O 57a Receiving Agent A, D or J 19
Mandatory Subsequence B2 Amount Sold
M 33B Currency, Amount Sold 3!a15d 20
O 53a Delivery Agent A, D or J 21
O 56a Intermediary A, D or J 22
M 57a Receiving Agent A, D or J 23
O 58a Beneficiary Institution A, D or J 24
Optional Sequence C Optional General Information
M 15C New Sequence (CrLf) 25
O 21A Reference to the Associated Trade 16x 26
O 21G Executing Broker’s Reference 16x 27
O 29A Contact Information 4*35x 28
O 72 Sender to Receiver Information 6*35x 29
Optional Sequence D Accounting Information
M 15D New Sequence (CrLf) 30
----->
M 21P Reference to Previous Deals 16x 31
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Status Tag Field Name Content/Options No.
-----|
M 17G Gain (Loss) Indicator 1!a 32
M 32G Currency, Amount 3!a15d 33
Optional Sequence E Net Amount to be Settled
M 15E New Sequence (CrLf) 34
M 17G Gain (Loss) Indicator 1!a 35
M 32G Currency, Amount 3!a15d 36
O 53a Delivery Agent A, D or J 37
O 56a Intermediary A, D or J 38
O 57a Receiving Agent A, D or J 39
O 58a Beneficiary Institution A, D or J 40
M = Mandatory O = Optional
MT 304 Network Validated RulesC1
In sequence A, the presence of field 21 depends on field 22A as follows (Error code(s): D02):
Sequence Aif field 22A is ...
Sequence Athen field 21 is ...
AMND Mandatory
CANC Mandatory
DUPL Optional
NEWT Optional
C2
In sequence A, the presence of fields 17O and 17N depend on field 94A as follows (Error code(s): D03):
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Sequence Aif field 94A is ...
Sequence Athen field 17O is ...
Sequence Athen field 17N is ...
ASET Not allowed Not allowed
AFWD Mandatory Mandatory
C3
In sequence A, the presence of field 17F depends on field 17O as follows (Error code(s): D04):
Sequence Aif field 17O is ...
Sequence Athen field 17F is ...
Y Not allowed
N Mandatory
Not present Not allowed
C4
The presence of sequence D depends on field 17O as follows (Error code(s): D23):
Sequence Aif field 17O is ...
then Sequence D is ...
Y Not allowed
N Mandatory
Not present Not allowed
C5
The presence of sequence E depends on fields 17F and 17N as follows (Error code(s): D29):
Sequence Aif field 17F is ...
Sequence Aand field 17N is ...
then Sequence E is ...
Y Y Mandatory
Y N Not allowed
N Y or N Not allowed
Not present Y or N or not present Not allowed
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MT 304 Usage RulesThe following rules apply when sending an MT 304:
The MT 304 is used to send a new instruction, but it can also be used to amend or cancel a previously sent MT 304.To cancel a previously sent message:
field 21 must contain the reference, ie, the content of field 20, of the message containing the instruction to be cancelledthe cancellation message must contain a copy of at least the mandatory fields of the original message.
To amend a previously sent message:field 21 must contain the reference, ie, the content of field 20, of the message containing the instruction to be amendedthe amendment message must contain both the unchanged and the changed/new fields of the original messagethe amendment message replaces the original message.
The code /NETS/ in fields 53J, 56J and 57J must not be used in Sequence E Net Amount to be Settled.Should a registered user receive an MT 304 without having a bilateral agreement with the fund manager, the Receiverought to query the message according to normal banking practice.
MT 304 GuidelinesTo cover securities transactions, fund managers may need to buy and sell currencies. The term ’fund managers’ includes investment managers, investment advisors, advisors and managers.
The fund manager arranges these deals either with an independent (third party) forex institution, the executing broker, orwith the treasury department of his custodian. Having exchanged and matched the confirmation with the third party, thefund manager informs the custodian about the deal. This is done for accounting as well as for settlement purposes.
The aim of the MT 304 is to automate the information flow between the fund manager and the custodian. The confirmationof the forex deal with the executing broker is still done through the exchange and matching of the MT 300 ForeignExchange Confirmations:
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Subsequently, the fund manager generates the MT 304 and sends it to the global custody department of its custodian bankfor settlement and accounting.
This implies that when the MT 304 is sent, the settlement instructions have been checked between the fund manager and the executing broker. Consequently, the MT 304 only needs to specify where the custodian is expecting the money from (deliv-ery agent for the amount bought) and who he has to pay (receiving agent for the amount sold).
If the deal was agreed with the treasury department of the custodian, an MT 304 is not always needed as the message confirming the forex deal covers the purpose of sending an MT 304.
The custodian bank enters the instruction into its accounting systems for reporting and valuation. It is also entered into itspayment system to effect payment depending on the type of settlement. For a spot foreign exchange an MT 202 or MT 210may be generated; for a forward currency contract this may be the settlement of a gain or loss via a separate currency payment.
Because the message constitutes a settlement instruction, the MT 304 must be authenticated.
In the case of block trades, the fund manager groups several currency requirements into one deal (allocated through anMT 303). In this case a separate MT 304 is sent for each individual allocation.
Regarding an MT 304 cancellation, the MT 392 can still be used instead of an MT 304 with CANC in Type of Operation.The following issues, however, have to be considered:
Acknowledgement: By sending the MT 392, the sender requests the receiver to cancel the confirmation previouslysent. The receiver must acknowledge the request by sending an MT 396 back to the sender of the MT 392.Routing: an MT 304 with CANC is easily routed to the same department as the original MT 304. MT 392s are usuallyrouted like other MTs 3nn to the forex back office instead of to the custody department.Authentication: in the SWIFT context, the 392 is not authenticated. Using the MT 392 to cancel an authenticated MT304 instruction means that a non-authenticated message cancels an authenticated one.Repetition of the original message: in the MT 392 only the Sender’s Reference of the previous message is mandatory,all other fields are optional. When an MT 304 with CANC is used, the fields to be copied are mandated by the stan-dard.
MT 304 Field Specifications
1. Field 15A: New Sequence
FORMAT
Option A Empty field
PRESENCE
Mandatory
DEFINITION
This field specifies the beginning of mandatory sequence A General Information.
USAGE RULES
Only the field tag must be present, the field is empty.
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2. Field 20: Sender’s Reference
FORMAT
16x
PRESENCE
Mandatory
DEFINITION
This field specifies the reference number assigned by the Sender to unambiguously identify the instruction, ie, the numberuniquely identifying the deal to the fund manager.
NETWORK VALIDATED RULES
This field must not start or end with a slash ’/’ and must not contain two consecutive slashes ’//’ (Error code(s): T26).
USAGE RULES
The reference assigned to an instruction is used for cross-referencing purposes in subsequent messages, such as followingMT 304s and statement messages, as well as queries. It is therefore essential for the identification of the original MT 304sent that this reference be unique.
3. Field 21: Related Reference
FORMAT
16x
PRESENCE
Conditional (C1)
DEFINITION
This field contains the identification of the instruction to which the current message is related.
NETWORK VALIDATED RULES
This field must not start or end with a slash ’/’ and must not contain two consecutive slashes ’//’ (Error code(s): T26).
USAGE RULES
When used, this field must contain the content of field 20 Sender’s Reference of the previous MT 304 which is to beamended or cancelled by this message, or the reference of the telex/fax of the original confirmation.
4. Field 22A: Type of Operation
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FORMAT
Option A 4!c (Function)
PRESENCE
Mandatory
DEFINITION
This field specifies the function of the message.
CODES
Function must contain one of the following codes (Error code(s): T36):
AMND Replaces a previously sent instruction with the amended one contained in this message.Used to add settlement agents to an MT 304 previously sent-or-to correct error(s) in an MT 304 previously sent-or-to add optional sequences/fields to an MT 304 previously sent.
CANC Cancels a previously sent instruction.Used to cancel an MT 304 previously sent-or-to cancel an MT 304 which contains erroneous information.
DUPL Duplicates a previously sent instruction.Used to inform the custodian that an instruction was already sent by telex, fax or SWIFT
NEWT New advice/instruction.Used to send an instruction for the first time-or-to send a corrected MT 304 when the erroneous one was cancelled using an MT 304 with function CANC.
5. Field 94A: Scope of Operation
FORMAT
Option A 4!c (Scope)
PRESENCE
Mandatory
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DEFINITION
This field identifies the scope of the message, ie, the type of foreign exchange contract.
CODES
Scope must contain one of the following codes (Error code(s): T36):
AFWD Forward currency contract (FCC) or hedge.Indicates that the foreign exchange is a forward/hedge executed for a future date at a set price. Thecontract is opened and closed for the same value date resulting in a gain or loss. The result can besettled by netting the local base or both currencies, or by settling the gross/principal amounts.
ASET Settlement contractIndicates that the foreign exchange is a physical settlement in which both the buy and sell currencieswill move on the settlement (value) day.
6. Field 17O: Open Indicator
FORMAT
Option O 1!a (Indicator)
PRESENCE
Conditional (C2)
DEFINITION
This field specifies whether the instruction is for the opening of an FCC or for the closing of an FCC.
CODES
Indicator must contain one of the following codes (Error code(s): T36):
N The partial or final close of an FCC.
Y The opening of an FCC.
7. Field 17F: Final Close Indicator
FORMAT
Option F 1!a (Indicator)
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PRESENCE
Conditional (C3)
DEFINITION
This field specifies whether the instruction is for the final close or the partial close of an FCC.
CODES
Indicator must contain one of the following codes (Error code(s): T36):
N The partial close of an FCC.
Y The final close of an FCC.
8. Field 17N: Net Settlement Indicator
FORMAT
Option N 1!a (Indicator)
PRESENCE
Conditional (C2)
DEFINITION
This field specifies whether the total amount is settled net or gross.
CODES
Indicator must contain one of the following codes (Error code(s): T36):
N Gross settlement of an FCC.
Y Net settlement of an FCC.
9. Field 83a: Fund
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC/BEI)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
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PRESENCE
Mandatory
DEFINITION
This field identifies the fund, ie, the client for which the transaction was executed.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ O followed by the BIC/BEI or UKWN if BIC/BEI not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/ O followed by a clearing code
M = Mandatory O = Optional
NETWORK VALIDATED RULES
The BIC/BEI must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
10. Field 82a: Fund Manager
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC/BEI)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
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PRESENCE
Mandatory
DEFINITION
This field identifies the fund manager.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC/BEI or UKWN if BIC/BEI not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/ O followed by a clearing code
M = Mandatory O = Optional
NETWORK VALIDATED RULES
The BIC/BEI must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
11. Field 87a: Executing Broker
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC/BEI)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
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PRESENCE
Mandatory
DEFINITION
This field identifies the executing broker.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC/BEI or UKWN if BIC/BEI not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/ O followed by a clearing code
NETWORK VALIDATED RULES
The BIC/BEI must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
12. Field 15B: New Sequence
FORMAT
Option B Empty field
PRESENCE
Mandatory
DEFINITION
This field specifies the start of mandatory sequence B Forex Transaction Details.
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USAGE RULES
Only the field tag must be present, the field is empty.
13. Field 30T: Trade Date
FORMAT
Option T 8!n (Date)
PRESENCE
Mandatory
DEFINITION
This field specifies the date the transaction was agreed between the fund manager and the executing broker.
NETWORK VALIDATED RULES
Date must be a valid date expressed as YYYYMMDD (Error code(s): T50).
14. Field 30V: Value Date
FORMAT
Option V 8!n (Date)
PRESENCE
Mandatory
DEFINITION
This field specifies the value date of the transaction.
NETWORK VALIDATED RULES
Date must be a valid date expressed as YYYYMMDD (Error code(s): T50).
15. Field 36: Exchange Rate
FORMAT
12d (Rate)
PRESENCE
Mandatory
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DEFINITION
This field specifies the agreed exchange rate of the transaction. It is the rate as the deal was struck.
NETWORK VALIDATED RULES
The integer part of Rate must contain at least one digit. A decimal comma is mandatory and is included in the maximumlength (Error code(s): T40, T43).
16. Field 32B: Currency, Amount Bought
FORMAT
Option B 3!a15d (Currency) (Amount)
PRESENCE
Mandatory
DEFINITION
This field specifies the currency and amount bought.
NETWORK VALIDATED RULES
Currency must be a valid ISO 4217 currency code (Error code(s): T52).
The integer part of Amount must contain at least one digit. A decimal comma is mandatory and is included in the maximumlength. The number of digits following the comma must not exceed the maximum number allowed for the specifiedcurrency (Error code(s): C03, T40, T43).
17. Field 53a: Delivery Agent
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Mandatory
DEFINITION
This field identifies the financial institution from which the payer will transfer the amount bought.
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CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC or UKWN if BIC not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/ O followed by a clearing code
or
/NETS/ M A net settlement is taking place
or
/SSIS/ M Standard settlement instructions are used
NETWORK VALIDATED RULES
The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
The BIC must not be a BEI, ie, must not be of subtype BEID, MCCO, TESP or TRCO (Error code(s): C05).
18. Field 56a: Intermediary
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
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PRESENCE
Optional
DEFINITION
This field identifies the intermediary for the transfer of the funds.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC or UKWN if BIC not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/ O followed by a clearing code
or
/NETS/ M A net settlement is taking place
or
/SSIS/ M Standard settlement instructions are used
NETWORK VALIDATED RULES
The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
The BIC must not be a BEI, ie, must not be of subtype BEID, MCCO, TESP or TRCO (Error code(s): C05).
19. Field 57a: Receiving Agent
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
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Option J 5*40x (Party Identification)
PRESENCE
Optional
DEFINITION
This field identifies the financial institution and account where the payee will receive the amount bought.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC or UKWN if BIC not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/ O followed by a clearing code
or
/NETS/ M A net settlement is taking place
or
/SSIS/ M Standard settlement instructions are used
CODES
With option D, one of the following codes may also be used:
NET When net settlement takes place.
NONE When no settlement is taking place.
SSI When standing settlement instructions apply.
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UNKNOWN When the settlement instructions are not known.
NETWORK VALIDATED RULES
The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
The BIC must not be a BEI, ie, must not be of subtype BEID, MCCO, TESP or TRCO (Error code(s): C05).
20. Field 33B: Currency, Amount Sold
FORMAT
Option B 3!a15d (Currency) (Amount)
PRESENCE
Mandatory
DEFINITION
This field specifies the currency and amount sold.
NETWORK VALIDATED RULES
Currency must be a valid ISO 4217 currency code (Error code(s): T52).
The integer part of Amount must contain at least one digit. A decimal comma is mandatory and is included in the maximumlength. The number of digits following the comma must not exceed the maximum number allowed for the specifiedcurrency (Error code(s): C03, T40, T43).
21. Field 53a: Delivery Agent
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Optional
DEFINITION
This field identifies the financial institution from which the payer will transfer the amount sold.
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CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC or UKWN if BIC not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/ O followed by a clearing code
or
/NETS/ M A net settlement is taking place
or
/SSIS/ M Standard settlement instructions are used
NETWORK VALIDATED RULES
The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
The BIC must not be a BEI, ie, must not be of subtype BEID, MCCO, TESP or TRCO (Error code(s): C05).
22. Field 56a: Intermediary
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
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PRESENCE
Optional
DEFINITION
This field identifies the intermediary institution for the transfer of the funds.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC or UKWN if BIC not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/ O followed by a clearing code
or
/NETS/ M A net settlement is taking place
or
/SSIS/ M Standard settlement instructions are used
NETWORK VALIDATED RULES
The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
The BIC must not be a BEI, ie, must not be of subtype BEID, MCCO, TESP or TRCO (Error code(s): C05).
23. Field 57a: Receiving Agent
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
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Option J 5*40x (Party Identification)
PRESENCE
Mandatory
DEFINITION
This field identifies the financial institution and account where the payee will receive the amount sold.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC or UKWN if BIC not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/ O followed by a clearing code
or
/NETS/ M A net settlement is taking place
or
/SSIS/ M Standard settlement instructions are used
CODES
With option D, one of the following codes may also be used:
NET When net settlement takes place.
NONE When no settlement is taking place.
SSI When standing settlement instructions apply.
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UNKNOWN When the settlement instructions are not known.
NETWORK VALIDATED RULES
The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
The BIC must not be a BEI, ie, must not be of subtype BEID, MCCO, TESP or TRCO (Error code(s): C05).
24. Field 58a: Beneficiary Institution
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC/BEI)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Optional
DEFINITION
This field identifies the institution in favour of which the payment is done.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC/BEI or UKWN if BIC/BEI not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/ O followed by a clearing code
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NETWORK VALIDATED RULES
The BIC/BEI must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
25. Field 15C: New Sequence
FORMAT
Option C Empty field
PRESENCE
Mandatory in an optional sequence
DEFINITION
This field specifies the start of optional sequence C Optional General Information.
USAGE RULES
Only the field tag must be present, the field is empty.
26. Field 21A: Reference to the Associated Trade
FORMAT
Option A 16x
PRESENCE
Optional
DEFINITION
This field specifies the reference to the underlying securities deal, ie, the identification of the securities transaction at theorigin of the hedge.
NETWORK VALIDATED RULES
This field must not start or end with a slash ’/’ and must not contain two consecutive slashes ’//’ (Error code(s): T26).
27. Field 21G: Executing Broker’s Reference
FORMAT
Option G 16x
PRESENCE
Optional
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DEFINITION
This field specifies the broker’s reference, ie, the reference number given by the executing broker to the trade.
NETWORK VALIDATED RULES
This field must not start or end with a slash ’/’ and must not contain two consecutive slashes ’//’ (Error code(s): T26).
28. Field 29A: Contact Information
FORMAT
Option A 4*35x (Narrative)
PRESENCE
Optional
DEFINITION
This field specifies the contact name and/or telephone number the Receiver may contact for any queries concerning this transaction.
CODES
At least one of the following should be used:
/DEPT/ followed by the name of the department
/FAXT/ followed by fax number
/NAME/ followed by the name of the contact person
/PHON/ followed by the telephone number
/TELX/ followed by the telex number
USAGE RULES
The codes do not need to be put on separate lines. It is the ’/’ at the beginning of a code and not the end-of-line that marksthe end of the information behind the previous code.
29. Field 72: Sender to Receiver Information
FORMAT
6*35x (Narrative)
The following line format must be used:
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Line 1 /8c/[additional information] Lines 2-6 [//continuation of additional information]
-or-[/8c/[additional information]]
PRESENCE
Optional
DEFINITION
This field specifies additional information for the Receiver and applies to the whole message.
CODES
One of the following codes, or bilaterally agreed codes must be used in this field:
BROKER Identification of the broker negotiating the contract on behalf of one of the parties.
ELEC Deal has been arranged via an electronic means. This code may be followed by an indication of thespecific electronic means used for arranging the deal.
PHON Deal was arranged by telephone
TELEX Deal was arranged by telex
USAGE RULES
Each code used must be put between slashes and appear at the beginning of a line.
All alphabetic characters in a code must be in upper case.
Additional explanatory information, which may be continued on the next lines, is preceded by a double slash ’//’. Narrativetext that is not qualified by a code must start with a double slash ’//’ on a new line, and should preferably be the last infor-mation in this field.
Field 72 must not be used for information for which another field is intended.
The use of this field with unstructured text may require manual intervention and thus cause delay in automated systems.
30. Field 15D: New Sequence
FORMAT
Option D Empty field
PRESENCE
Mandatory in a conditional sequence (C4)
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DEFINITION
This field specifies the start of optional sequence D Accounting Information.
USAGE RULES
Only the field tag must be present, the field is empty.
31. Field 21P: Reference to Previous Deals
FORMAT
Option P 16x
PRESENCE
Mandatory in a conditional sequence (C4)
DEFINITION
This field specifies the reference of the deals closed by this MT 304, ie, it contains the reference of the original transactions(Open(s), Partial Close(s)) leading to this instruction.
NETWORK VALIDATED RULES
This field must not start or end with a slash ’/’ and must not contain two consecutive slashes ’//’ (Error code(s): T26).
32. Field 17G: Gain (Loss) Indicator
FORMAT
Option G 1!a (Indicator)
PRESENCE
Mandatory in a conditional sequence (C4)
DEFINITION
This field specifies whether the close represents a gain or a loss.
CODES
One of the following codes must be used (Error code(s): T36):
N Loss/amount paid.
Y Gain/amount received.
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33. Field 32G: Currency, Amount
FORMAT
Option G 3!a15d (Currency) (Amount)
PRESENCE
Mandatory in a conditional sequence (C4)
DEFINITION
This field specifies the gain or loss currency and amount at a partial or final close.
NETWORK VALIDATED RULES
Currency must be a valid ISO 4217 currency code (Error code(s): T52).
The integer part of Amount must contain at least one digit. A decimal comma is mandatory and is included in the maximumlength. The number of digits following the comma must not exceed the maximum number allowed for the specifiedcurrency (Error code(s): C03, T40, T43).
34. Field 15E: New Sequence
FORMAT
Option E Empty field
PRESENCE
Mandatory in a conditional sequence (C5)
DEFINITION
This field specifies the start of optional sequence E Net Amount to be Settled.
USAGE RULES
Only the field tag must be present, the field is empty.
35. Field 17G: Gain (Loss) Indicator
FORMAT
Option G 1!a (Indicator)
PRESENCE
Mandatory in a conditional sequence (C5)
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DEFINITION
This field specifies whether the net amount represents a gain (amount received) or a loss (amount to be paid).
CODES
One of the following codes must be used (Error code(s): T36):
N Loss/amount paid.
Y Gain/amount received.
36. Field 32G: Currency, Amount
FORMAT
Option G 3!a15d (Currency) (Amount)
PRESENCE
Mandatory in a conditional sequence (C5)
DEFINITION
This field specifies the net currency and amount to be settled.
NETWORK VALIDATED RULES
Currency must be a valid ISO 4217 currency code (Error code(s): T52).
The integer part of Amount must contain at least one digit. A decimal comma is mandatory and is included in the maximumlength. The number of digits following the comma must not exceed the maximum number allowed for the specifiedcurrency (Error code(s): C03, T40, T43).
37. Field 53a: Delivery Agent
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Optional in a conditional sequence (C5)
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DEFINITION
This field identifies the financial institution from which the payer will transfer the net amount to be settled.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC or UKWN if BIC not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/ O followed by a clearing code
or
/NETS/ M A net settlement is taking place
or
/SSIS/ M Standard settlement instructions are used
NETWORK VALIDATED RULES
The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
The BIC must not be a BEI, ie, must not be of subtype BEID, MCCO, TESP or TRCO (Error code(s): C05).
38. Field 56a: Intermediary
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
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PRESENCE
Optional in a conditional sequence (C5)
DEFINITION
This field identifies the intermediary institution for transfer of the funds.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC or UKWN if BIC not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/ O followed by a clearing code
or
/NETS/ M A net settlement is taking place
or
/SSIS/ M Standard settlement instructions are used
NETWORK VALIDATED RULES
The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
The BIC must not be a BEI, ie, must not be of subtype BEID, MCCO, TESP or TRCO (Error code(s): C05).
39. Field 57a: Receiving Agent
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
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Option J 5*40x (Party Identification)
PRESENCE
Optional in a conditional sequence (C5)
DEFINITION
This field identifies the financial institution and account where the payee will receive the net amount to be settled.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC or UKWN if BIC not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/ O followed by a clearing code
or
/NETS/ M A net settlement is taking place
or
/SSIS/ M Standard settlement instructions are used
CODES
With option D, one of the following codes may also be used:
NET When net settlement takes place
NONE When no settlement is taking place.
SSI When standing settlement instructions apply.
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UNKNOWN When the settlement instructions are not known.
NETWORK VALIDATED RULES
The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
The BIC must not be a BEI, ie, must not be of subtype BEID, MCCO, TESP or TRCO (Error code(s): C05).
40. Field 58a: Beneficiary Institution
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC/BEI)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Optional in a conditional sequence (C5)
DEFINITION
This field specifies the institution in favour of which the payment is done.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC/BEI or UKWN if BIC/BEI not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/ O followed by a clearing code
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NETWORK VALIDATED RULES
The BIC/BEI must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
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MT 305 Foreign Currency Option Confirmation
MT 305 ScopeThis message type is exchanged between the financial institutions which have agreed to a foreign currency option contract.
It is used to confirm the details of:
a new contract between the partiesan amendment to a previously agreed contractthe cancellation of a confirmationthe surrender of an option by the buyer (holder) to the seller (grantor) for compensation.
MT 305 Format Specifications
MT 305 Foreign Currency Option Confirmation
Status Tag Field Name Content/Options No.
M 20 Transaction Reference Number 16x 1
M 21 Related Reference 16x 2
M 22 Code/Common Reference 8a/4!a2!c4!n4!a2!c 3
M 23 Further Identification 16x 4
M 30 Date Contract Agreed/Amended 6!n 5
O 31C Earliest Exercise Date 6!n 6
M 31G Expiry Details 6!n/4!n/12a 7
O 31E Final Settlement Date 6!n 8
M 26F Settlement Type 9a 9
M 32B Underlying Currency and Amount 3!a15d 10
M 36 Strike Price 12d 11
M 33B Counter Currency and Amount 3!a15d 12
M 37K Premium Price 3!a12d 13
M 34a Premium Payment P or R 14
O 53a Sender’s Correspondent A, B or D 15
O 56a Intermediary A or D 16
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Status Tag Field Name Content/Options No.
M 57a Account With Institution A or D 17
O 77D Terms and Conditions 6*35x 18
O 72 Sender to Receiver Information 6*35x 19
M = Mandatory O = Optional
MT 305 Network Validated RulesC1
Field 31C may only be present when field 23 specifies an American style option (Error code(s): C79).
C2
Field 53a may only be present if field 34P is present (Error code(s): C20).
C3
The currency code in the fourth subfield (Currency) of field 23 must be the same as the currency code in field 32B(Error code(s): C88).
MT 305 Usage RulesUnless specifically stated to the contrary in field 77D Terms and Conditions, the foreign currency option beingconfirmed by this message conforms with the International Currency Options Market Terms and Conditions (ICOMTerms and Guide), which are in effect at the time the original contract is established.If the underlying contract is amended/cancelled on a bilateral basis, this should be agreed upon by a bilateral exchangeof confirmations with either code AMEND or CANCEL, respectively.Changes to the amount, and/or strike price, and/or premium price, and/or exercise date and/or settlement informationrequire another confirmation.
MT 305 GuidelinesAn option on a foreign exchange deal may be exercised by the buyer. To confirm the settlement of the exercise of aforeign currency option, an MT 300 Foreign Exchange Confirmation may be used, with the function code EXOP infield 22A and field 21 containing the TRN of the related MT 305.This message handles only the contract part of a foreign currency option. For the actual transfer of funds or the confir-mation of credits and debits relative to the premium payment, other messages outside Category 3 are available, such asan MT 202, 203, 205 and MT 900, 910, 950, respectively.
In all cases, the common reference of the MT 305 must be quoted in the relevant reference field, ie, field 21 of theMTs 202, 203, 205, 900, 910 and field 61, subfield 7 of the MT 950, except in the case of netting agreements when anagreed alternative reference may be used.
Settlement Details
The table below shows how the different settlement parties involved in the deal can be identified.
Party A is the sender and party B is the receiver.
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Whenever possible, users should use option A to identify institutions in these fields. Use of free text, ie, option D, exceptwhen used to specify recognized code words, is strongly discouraged. Option D not only precludes party B from matchingand further processing the message automatically but also is contrary to the message text standards which state that option Dis only to be used when no other option is available.
The beneficiary is the seller of the premium. It is party A when receiving the premium (34R) and party B when paying thepremium (34P).
Party A services account of party B. No separate settlement messages are sent.
Party A will RECEIVE the premium fromParty B
Party A will PAY the premium to Party B
Party A will debit party B’s account. Party A will credit party B’s account
:53a: not used :53a: not used
:56a: not used :56a: not used
:57a:[/account no of party B]party A
:57a:[/account no of party B]party A
Party B services account of party A. No separate settlement messages are sent.
Party A will RECEIVE the premium fromParty B
Party A will PAY the premium to Party B
Party B will credit party A’s account Party B will debit party A’s account
:53a: not used :53a: not used
:56a: not used :56a: not used
:57a:[/account no of party A]party B
57a:[/account no of party A]party B
Beneficiary’s account serviced by a financial institution other than party A or party B. The payer sends an MT 202 toits correspondent who will then send an MT 205 or equivalent to the correspondent of the payee.
The correspondent can be a branch of the party.
Party A will RECEIVE the premium fromParty B
Party A will PAY the premium to Party B
Credit to party A’s account with that financial institution
Credit to party B’s account with that financial insti-tution
[:53a:Correspondent of party B] [:53a:Correspondent of party A]
:56a: not used :56a: not used
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Party A will RECEIVE the premium fromParty B
Party A will PAY the premium to Party B
:57a:[/account no of party A]correspondent of party A
:57a:[/account no of party B]correspondent of party B
Beneficiary receives the funds through another institution (eg, BANK x for party x).
The payer sends an MT 202 to its correspondent. The correspondent will then send an MT 205 or equivalent to the correspondent of BANK x, ie, CORR x. CORR x will then send an MT 202 to BANK x who will then send an MT 950to party x.
Field 56a identifies where BANK x will receive the funds.
Party A will RECEIVE the premium fromParty B
Party A will PAY the premium to Party B
BANK A will receive the funds for party A BANK B will receive the funds for party B
[:53a:Correspondent of party B] [:53a:Correspondent of party A]
:56a:[/account no of BANK A]CORR A
:56a:[/account no of BANK B]CORR B
:57a:[/account no of party A]BANK A
:57a:[/account no of party B]BANK B
Beneficiary to receive the funds directly through a clearing system.
The payer sends an MT 202 to its correspondent who will then send an MT 202 the payee.
Party A will RECEIVE the premium fromParty B
Party A will PAY the premium to Party B
Party A will receive the funds through clearing Party B will receive the funds through clearing
[:53a:Correspondent of party B] [:53a:Correspondent of party A]
:56a: not used :56a: not used
:57a:/CLEARparty A
:57a:/CLEARparty B
The counterparties use their standing settlement instructions.
Party A will RECEIVE the premium fromParty B
Party A will PAY the premium to Party B
:53a: not used :53a: not used
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Party A will RECEIVE the premium fromParty B
Party A will PAY the premium to Party B
:56a: not used :56a: not used
:57D:SSI :57D:SSI
The payment flows are netted based on a bilateral agreement.
Party A will RECEIVE the premium fromParty B
Party A will PAY the premium to Party B
:53a: not used :53a: not used
:56a: not used :56a: not used
:57D:NET :57D:NET
There is no payment (amount is zero) or the settlement details are irrelevant.
Party A will RECEIVE the premium fromParty B
Party A will PAY the premium to Party B
:53a: not used :53a: not used
:56a: not used :56a: not used
:57D:NONE :57D:NONE
The settlement details are not known at the time the confirmation is issued.
Party A will RECEIVE the premium fromParty B
Party A will PAY the premium to Party B
:53a: not used :53a: not used
:56a: not used :56a: not used
:57D:UNKNOWN :57D:UNKNOWN
Note: It is only necessary to quote an account number when multiple accounts are serviced for thesame institution.
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MT 305 Field Specifications
1. Field 20: Transaction Reference Number
FORMAT
16x
PRESENCE
Mandatory
DEFINITION
This field specifies the reference number assigned by the Sender to unambiguously identify this confirmation.
NETWORK VALIDATED RULES
This field must not start or end with a slash ’/’ and must not contain two consecutive slashes ’//’ (Error code(s): T26).
USAGE RULES
The reference assigned to the confirmation is used for cross-referencing purposes in subsequent messages, such as the following MT 305, MT 300 Foreign Exchange Confirmation and statement messages as well as queries. It is therefore essential for the identification of the original MT 305 sent that the reference be unique.
2. Field 21: Related Reference
FORMAT
16x
PRESENCE
Mandatory
DEFINITION
This field contains the identification of the confirmation to which the current message is related, ie, field 20 Transaction Reference Number of the previous confirmation to be amended, cancelled or closed out by this message.
NETWORK VALIDATED RULES
This field must not start or end with a slash ’/’ and must not contain two consecutive slashes ’//’ (Error code(s): T26).
USAGE RULES
In a new contract, this field must contain the code NEW.
In all other cases, this field must contain the TRN of the previous MT 305.
The content of field 21, when other than NEW, will normally be a reference meaningful to the Sender rather than theReceiver. This is the case because the Sender will normally include the content of field 20 from the MT 305 previously transmitted rather than received.
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3. Field 22: Code/Common Reference
FORMAT
8a/4!a2!c4!n4!a2!c (Function) (Common Reference)
PRESENCE
Mandatory
DEFINITION
This field specifies the function of the message followed by a reference which is common to both the Sender and theReceiver. Where
subfield 1 8a (Function)
subfield 2 /4!a2!c4!n4!a2!c (Common Reference)
where Common Reference consists of (Bank Code 1) (Location Code 1) (Reference Code) (Bank Code 2) (Location Code 2)
CODES
Function must contain one of the following codes (Error code(s): T47):
AMEND Confirmation of mutually agreed changes to a deal which has been previously confirmed.Correction of error(s) in a previously sent message.Complementary information, eg, in those cases where the previous confirmation contained the codeUNKNOWN in field 57a.
CANCEL Confirmation of a mutually agreed cancellation of a contract.Cancellation of an erroneously sent message.
CLOSEOUT Confirmation of the mutually agreed surrender of the option by the buyer (holder) to the seller(grantor) for compensation.
NEW Confirmation of a new contract.
NETWORK VALIDATED RULES
This field consists of the bank and location codes (Error code(s): T95) (from the ISO Bank Identifier Code) of both theSender and the Receiver. These codes must appear in alphabetical order (letters take precedence over numbers) (Errorcode(s): T96).
Location Code 1 and Bank Code 2 are separated by four digits, which must consist of the rightmost non-zero digit of field36, preceded by the three digits to the left of it. If there are no digits to the left of it, the space must be zero filled (Errorcode(s): T22).
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4. Field 23: Further Identification
FORMAT
16x To be structured as: 4a/4a/1!a/3!a (Code 1) (Code 2) (Code 3) (Currency)
PRESENCE
Mandatory
DEFINITION
This field specifies whether, from the Sender’s point of view, the option is sold or bought, is a put or call, and indicates thestyle and the underlying currency.
CODES
Code 1 SELL, if the Sender is confirming an option sold, orBUY, if the Sender is confirming an option purchased.
Code 2 CALL orPUT
Code 3 A, if American style, orE, if European style (Error code(s): T09)
Currency Currency
NETWORK VALIDATED RULES
Currency must be the same as the currency specified in field 32B (Error code(s): C88).
Currency must be a valid ISO 4217 currency code (Error code(s): T52).
5. Field 30: Date Contract Agreed/Amended
FORMAT
6!n (Date)
PRESENCE
Mandatory
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DEFINITION
This field specifies the date when a contract, or a mutually agreed change to the contract, was agreed between the dealers.
NETWORK VALIDATED RULES
Date must be a valid date expressed as YYMMDD (Error code(s): T50).
USAGE RULES
The trade date remains the same when a confirmation is amended (corrected/completed) unilaterally. When the terms of thedeal are renegotiated on a bilateral basis, the trade date reflects the date of renegotiation in the amend message
6. Field 31C: Earliest Exercise Date
FORMAT
Option C 6!n (Date)
PRESENCE
Conditional (C1)
DEFINITION
This field specifies the earliest date the exercise of the option may be requested.
NETWORK VALIDATED RULES
Date must be a valid date expressed as YYMMDD (Error code(s): T50).
USAGE RULES
This field must only be used for American style options.
7. Field 31G: Expiry Details
FORMAT
Option G 6!n/4!n/12a (Date) (Time) (Location)
PRESENCE
Mandatory
DEFINITION
This field specifies the date, time and location at which the option expires.
NETWORK VALIDATED RULES
Date must be a valid date expressed as YYMMDD (Error code(s): T50).
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Time must be a valid time expressed as HHMM (Error code(s): T38).
8. Field 31E: Final Settlement Date
FORMAT
Option E 6!n (Date)
PRESENCE
Optional
DEFINITION
This field specifies the (latest )value date of the foreign exchange deal in which the option may result.
NETWORK VALIDATED RULES
Date must be a valid date expressed as YYMMDD (Error code(s): T50).
9. Field 26F: Settlement Type
FORMAT
Option F 9a (Type)
PRESENCE
Mandatory
DEFINITION
This field indicates how settlement is to be effected.
CODES
One of the following codes must be used:
NETCASH The underlying amount of the option is to be compensated against a foreign exchange deal and theseller of the option will settle the difference, in the counter currency, with the buyer.
PRINCIPAL The underlying currency amount and the counter currency amount are exchanged at the exercise ofthe option.
10. Field 32B: Underlying Currency and Amount
FORMAT
Option B 3!a15d (Currency) (Amount)
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PRESENCE
Mandatory
DEFINITION
This field specifies the underlying currency, ie, the currency specified in field 23, and amount. The underlying currency isthe currency which is to be exchanged for the counter currency.
NETWORK VALIDATED RULES
Currency must be a valid ISO 4217 currency code (Error code(s): T52).
The integer part of Amount must contain at least one digit. A decimal comma is mandatory and is included in the maximumlength. The number of digits following the comma must not exceed the maximum number allowed for the specifiedcurrency (Error code(s): C03, T40, T43).
11. Field 36: Strike Price
FORMAT
12d (Rate)
PRESENCE
Mandatory
DEFINITION
This field specifies the rate at which the underlying currency will be exchanged for the counter currency.
NETWORK VALIDATED RULES
The integer part of Rate must contain at least one digit. A decimal comma is mandatory and is included in the maximumlength (Error code(s): T40, T43).
12. Field 33B: Counter Currency and Amount
FORMAT
Option B 3!a15d (Currency) (Amount)
PRESENCE
Mandatory
DEFINITION
This field specifies the counter currency and amount. The counter currency is the currency which is to be exchanged for the underlying currency.
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NETWORK VALIDATED RULES
Currency must be a valid ISO 4217 currency code (Error code(s): T52).
The integer part of Amount must contain at least one digit. A decimal comma is mandatory and is included in the maximumlength, The number of digits following the comma must not exceed the maximum number allowed for the specifiedcurrency (Error code(s): C03, T40, T43).
13. Field 37K: Premium Price
FORMAT
Option K 3!a12d (Currency) (Rate)
PRESENCE
Mandatory
DEFINITION
This field specifies either the currency and amount of the premium price or the rate which is used to calculate the premium amount.
NETWORK VALIDATED RULES
Currency must be a valid ISO 4217 currency code or the code PCT (Error code(s): T52).
The integer part of Rate must contain at least one digit. A decimal comma is mandatory and is included in the maximumlength (Error code(s): T40, T43).
USAGE RULES
Rate can be expressed in the form of a percentage or in the form of points per unit of either currency amount. When the rateis expressed in the form of a percentage, Currency must contain PCT. When the rate is expressed in the form of points perunit of either currency amount, the currency code must be specified in Currency.
14. Field 34a: Premium Payment
FORMAT
Option P 6!n3!a15d (Date) (Currency) (Amount)Option R 6!n3!a15d (Date) (Currency) (Amount)
PRESENCE
Mandatory
DEFINITION
This field specifies the value date, currency code and premium amount which the buyer (holder) pays to the seller (grantor)for the option.
The letter option indicates the direction of the payment of the premium from the Sender’s point of view.
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P Paid, ie, the Sender has bought the option.
R Received, ie, the Sender has sold the option.
NETWORK VALIDATED RULES
Date must be a valid date expressed as YYMMDD (Error code(s): T50).
Currency must be a valid ISO 4217 currency code (Error code(s): T52).
The integer part of Amount must contain at least one digit. A decimal comma is mandatory and is included in the maximumlength. The number of digits following the comma must not exceed the maximum number allowed for the specifiedcurrency (Error code(s): C03, T40, T43).
USAGE RULES
When the code CLOSEOUT appears in field 22, this field is used to specify the surrender premium.
15. Field 53a: Sender’s Correspondent
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC)
Option B [/1!a][/34x][35x]
(Party Identifier)(Location)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
PRESENCE
Conditional (C2)
DEFINITION
This field identifies the financial institution from which the payer will transfer the premium amount specified in field 34P tothe account with institution.
NETWORK VALIDATED RULES
The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
The BIC must not be a BEI, ie, must not be of subtype BEID, MCCO, TESP or TRCO (Error code(s): C05).
USAGE RULES
This field is used when the premium is to be paid by the Sender of the message.
Field 53a is used only when the payer wants to inform the payee where the funds come from.
Please refer to the chapter Guidelines for this MT.
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16. Field 56a: Intermediary
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
PRESENCE
Optional
DEFINITION
This field identifies the intermediary institution for the transfer of the funds.
NETWORK VALIDATED RULES
The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
The BIC must not be a BEI, ie, must not be of subtype BEID, MCCO, TESP or TRCO (Error code(s): C05).
USAGE RULES
Please refer to the chapter Guidelines for this MT.
17. Field 57a: Account With Institution
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
PRESENCE
Mandatory
DEFINITION
This field identifies the financial institution and account where the payee will receive the premium.
CODES
With option D, one of the following codes may also be used:
NET When net settlement takes place
NONE When no settlement is taking place.
SSI When standing settlement instructions apply.
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UNKNOWN When the settlement instructions are not known.
NETWORK VALIDATED RULES
The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
The BIC must not be a BEI, ie, must not be of subtype BEID, MCCO, TESP or TRCO (Error code(s): C05).
USAGE RULES
For matching purposes, option A must be used when available.
Party Identifier in options A and D may be used to indicate a CHIPS Universal Identifier. When used, it must be precededby a double slash ’//’, followed by the code CH and 6 digits.
Please refer to the chapter Guidelines for this MT.
18. Field 77D: Terms and Conditions
FORMAT
Option D 6*35x (Narrative)
PRESENCE
Optional
DEFINITION
This field specifies terms and conditions when the foreign currency option being confirmed does not conform to ICOM terms.
CODES
One of the following codes must be used in this field:
/VARICOM/ Indicates variations to ICOM terms. The related variations, eg, fixing time, must be stated or referredto following the code.
/NONICOM/ Indicates that the foreign currency option is not subject to ICOM terms. The agreed terms must bestated or referred to following the code.
19. Field 72: Sender to Receiver Information
FORMAT
6*35x (Narrative)
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The following line format must be used:
Line 1 /8c/[additional information] Lines 2-6 [//continuation of additional information]
-or-[/8c/[additional information]]
PRESENCE
Optional
DEFINITION
This field specifies additional information for the Receiver.
CODES
One of the following codes, or bilaterally agreed codes must be used in this field:
BROKER Identification of the broker negotiating the contract on behalf of one of the parties.
ELEC Deal has been arranged via an electronic means. This code may be followed by an indication of thespecific electronic means used for arranging the deal.
PHON Deal was arranged by telephone
TELEX Deal was arranged by telex
USAGE RULES
Each code used must be put between slashes and appear at the beginning of a line.
All alphabetic characters in a code must be in upper case.
Additional explanatory information, which may be continued on the next lines, is preceded by a double slash ’//’. Narrativetext that is not qualified by a code must start with a double slash ’//’ on a new line, and should preferably be the last infor-mation in this field.
Field 72 must not be used for information for which another field is intended.
The use of this field with unstructured text may require manual intervention and thus cause delay in automated systems.
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MT 306 Foreign Currency Option Confirmation
IMPORTANT
The meaning of the terms as defined in this chapter applies to the use of the MT 306 only.
This message does not cover plain vanilla options as long as the MT 305 exists, ie, the network validated rule C1 willapply as long as the MT 305 is live on the network.
MT 306 ScopeThis message is exchanged to confirm a foreign currency option contract.
The confirmed transaction is covered by an ICOM (International Currency Option Master from the British Bankers’ Associ-ation), ISDA (International Swaps and Derivatives Association), Deutsche Rahmenvertrag, IFEMA, FEOMA or AFB (Association Française de Banques) Master Agreement. These agreements are either signed or under negotiation. Themessage also caters for deals that are not covered by the above agreements.
The message is used to confirm/notify the details of:
a new contract between the parties,an amendment to a previously agreed contractthe cancellation of a confirmationa trigger event: knock-in/knock-out of an option, hitting of a trigger level,the close out of an option.
This message is exchanged by or on behalf of the institutions or corporates, party A and party B, who have agreed to aforeign currency option contract.
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A money broker may also send this message to the two parties (party A and party B) for which he arranged the deal.
If there are two money brokers involved in arranging a deal between party A and party B, this message can also beexchanged between these money brokers.
Party A and party B are the legal entities which have agreed to the transaction.
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Party A is either:
the Sender, orthe institution/corporate on behalf of which the message is sent, orone of the institutions for which the broker arranged the deal and to whom it is sending the confirmation, orwhen a money broker confirms to another money broker, the party for which the sending broker arranged the deal.
Party B is either:
the Receiver, orthe institution/corporate on behalf of which the message is received, orthe other institution for which the broker arranged the deal, ie, party A’s counterparty, orwhen a money broker confirms to another money broker, party A’s counterparty.
Specifics of the instruments covered
List of instruments
The options covered by the confirmation are:
Vanilla options (American, European and Bermudan),Binary options (American or European),Digital options with single or double trigger level,Notouch options with single or double trigger level.
All options can also have a barrier. The barriers covered are single knock-in, single knock-out, double knock-in, double knock-out.
All options can be non-deliverable.
Option styles
Vanilla: The contract that provides the buyer the right but not the obligation to buy or sell the underlying currency at a predetermined rate with expiration determined by the expiration style. The expiration style is European, American or Bermudan.Binary: An agreement under which a fixed amount is paid out if a specific condition is met at any time during the exer-cise period. The payment date of the amount is either when the condition is met (American) or at expiration date (Euro-pean). The binary option has only ’payment triggers’.Digital: An agreement under which a fixed amount is paid out if a specific condition is met on expiration date. Thedigital option has only ’payment triggers’.Notouch: An agreement under which a fixed amount is paid unless a specific condition is met. The notouch option hasonly ’no payment triggers’.
Expiration styles
American: can be exercised on any date prior to and including expiration date as agreed by the parties to the trade.European: can be exercised on expiration date, at or before expiration time.Bermudan or Mid-Atlantic: can be exercised on predetermined exercise dates as agreed to by the counterparts.
Barriers
Knock-in: The option has a specified spot level, which, if touched during the knock-in period, triggers the option into existence. Prior to that level being touched, no option exists.Knock-out: The option has a specified spot level, which, if touched during the knock-out period, terminates the option.
Non deliverable options (NDO)
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In respect of an exercise date under the non deliverable currency option transaction, the seller will pay to the buyer theIn-the-Money amount, if positive, on settlement date in the settlement currency. The conditions and provisions as stated inthe 1998 FX and Currency Option Definitions apply.
MT 306 Format SpecificationsThe MT 306 consists of nine sequences:
Sequence A General Information contains general information about the option as well as about the confirmation itselfSequence B Transaction Details contains information about the transactionSequence C Settlement Instructions for Payment of Premium provides the instructions for the payment of the premiumSequence D Vanilla Block provides the specific deal details for vanilla optionsSequence E Payout Amount contains information about the payout amount for non-vanilla optionsSequence F Barrier Block provides the barrier informationSequence G Trigger Block contains information about the trigger(s) for non-vanilla optionsSequence H Non Deliverable Option Block provides specific details for the non-deliverable optionsSequence I Additional Information provides information, which is not match-critical.
MT 306 Foreign Currency Option Confirmation
Status Tag Field Name Content/Options No.
Mandatory Sequence A General Information
M 15A New Sequence (CrLf) 1
M 20 Sender’s Reference 16x 2
O 21 Related Reference 16x 3
M 22A Type of Operation 4!c 4
O 94A Scope of Operation 4!c 5
M 22C Common Reference 4!a2!c4!n4!a2!c 6
M 21N Contract Number Party A 16x 7
O 21B Contract Number Party B 16x 8
M 12F Option Style 4!c 9
M 12E Expiration Style 4!c 10
M 17A Barrier Indicator 1!a 11
M 17F Non-Deliverable Indicator 1!a 12
M 22K Type of Event 4!c[/35x] 13
O 30U Date of Trigger Hit 8!n 14
O 29H Location of Trigger Hit 4!c 15
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Status Tag Field Name Content/Options No.
M 82a Party A A, D or J 16
M 87a Party B A, D or J 17
M 77H Type, Date, Version of the Agreement 6a[/8!n][//4!n] 18
O 77D Additional Conditions 6*35x 19
O 14C Year of Definitions 4!n 20
Mandatory Sequence B Transaction Details
M 15B New Sequence (CrLf) 21
M 17V Buy (Sell) Indicator 1!a 22
M 30T Trade Date 8!n 23
M 30X Expiration Date 8!n 24
M 29E Expiration Location and Time 4!c/4!n 25
O 30F Final Settlement Date 8!n 26
O 37K Premium Price 3!a12d 27
M 30V Premium Payment Date 8!n 28
M 34B Premium Currency and Amount 3!a15d 29
O 84a Calculation Agent A, B, D or J 30
Mandatory Sequence C Settlement Instructions for Payment of Premium
M 15C New Sequence (CrLf) 31
O 53a Delivery Agent A, D or J 32
O 86a Intermediary 2 A, D or J 33
O 56a Intermediary A, D or J 34
M 57a Receiving Agent A, D or J 35
O 58a Beneficiary Institution A, D or J 36
Optional Sequence D Vanilla Block
M 15D New Sequence (CrLf) 37
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Status Tag Field Name Content/Options No.
O 30P Earliest Exercise Date 8!n 38
----->
O 30Q Intermediate Exercise Date 8!n 39
-----|
M 26F Settlement Type 9a 40
M 32B Put Currency and Amount 3!a15d 41
M 36 Strike Price 12d 42
M 33B Call Currency and Amount 3!a15d 43
Optional Sequence E Payout Amount
M 15E New Sequence (CrLf) 44
M 33E Currency, Amount 3!a15d 45
O 30H Touch Payment Date 8!n 46
O 53a Delivery Agent A, D or J 47
O 86a Intermediary 2 A, D or J 48
O 56a Intermediary A, D or J 49
M 57a Receiving Agent A, D or J 50
O 58a Beneficiary Institution A, D or J 51
Optional Sequence F Barrier Block
M 15F New Sequence (CrLf) 52
M 22G Type of Barrier 4!c 53
M 37J Barrier Level 12d 54
O 37L Lower Barrier Level 12d 55
M 30G Barrier Window Start Date and End Date 8!n/8!n 56
O 29J Location and Time for Start Date 4!c[/4!n] 57
O 29K Location and Time for End Date 4!c/4!n 58
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Status Tag Field Name Content/Options No.
Optional Sequence G Trigger Block
M 15G New Sequence (CrLf) 59
M 22J Type of Trigger 4!c 60
M 37U Trigger Level 12d 61
O 37P Lower Trigger Level 12d 62
M 32Q Currency Pair 3!a/3!a 63
Optional Sequence H Non Deliverable Option Block
M 15H New Sequence (CrLf) 64
M 14S Settlement Rate Source 3!a2!n 65
M 32E Settlement Currency 3!a 66
Optional Sequence I Additional Information
M 15I New Sequence (CrLf) 67
O 29A Contact Information 4*35x 68
O 24D Dealing Method 4!c[/35x] 69
O 88a Broker Identification A or D 70
O 71F Broker’s Commission 3!a15d 71
O 21G Broker’s Reference 16x 72
O 72 Sender to Receiver Information 6*35x 73
M = Mandatory O = Optional
MT 306 Network Validated RulesC1
This rule is present in order to prevent the use of the MT 306 for plain vanilla options. The MT 305 must be used forthose options until further notice.
This rule has a direct impact on rule C8.
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In sequence A, if field 12F consists of the code VANI, at least field 17A or field 17F must contain the code Y. Bothfields may contain the code Y (Error code(s): D24) .
Sequence Aif field 12F is ...
Sequence Aand field 17A is ...
Sequence Aand field 17F is ...
then this combination ofcodes is ...
VANI N N Not allowed
VANI N Y allowed
VANI Y N allowed
VANI Y Y allowed
Not VANI n/a n/a allowed
C2
In sequence A, the presence of field 21 depends on the value of field 22A as follows (Error code(s): D02):
Sequence Aif field 22A is...
Sequence Athen field 21 is...
AMND Mandatory
CANC Mandatory
NEWT Optional
C3
In sequence A, the values allowed for field 12E depend on the value of field 12F as follows (Error code(s): D26):
Sequence Aif field 12F is...
Sequence Athen the allowed values for field 12E are...
BINA AMER, EURO
DIGI EURO
NOTO EURO
VANI AMER, BERM, EURO
C4
In sequence A, the allowed values for Type of Event (subfield 1 of field 22K) depend on the fields 12F and 17A insequence A as follows (Error code(s): D27):
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Sequence Aif field 12F is...
Sequence Aand field 17A is...
Sequence Athen, the allowed values for Type of Event
(subfield 1 of field 22K) are...
VANI N CONF, CLST, OTHR
VANI Y CONF, CLST, KNIN, KNOT, OTHR
Not VANI N CONF, CLST, TRIG, OTHR
Not VANI Y CONF, CLST, KNIN, KNOT, TRIG, OTHR
C5
In sequence A, the presence of fields 30U and 29H depend on the value of Type of Event (subfield 1 of field 22K) asfollows (Error code(s): D28):
Sequence Aif subfield 1 of field 22K is...
Sequence Athen field 30U is...
Sequence Aand field 29H is...
CONF Not allowed Not allowed
CLST Not allowed Not allowed
Any other value Mandatory Mandatory
C6
In sequence A, the presence of field 77D depends on the value of Type of Agreement (subfield 1 of field 77H) asfollows (Error code(s): D36):
Sequence Aif subfield 1 of field 77H is...
Sequence Athen field 77D is...
OTHER Mandatory
Not OTHER Optional
C7
In sequence B, the presence of field 30F depends on the value of fields 12F and 12E in sequence A as follows (Errorcode(s): D26):
Sequence Aif field 12F is...
Sequence Aand field 12E is...
Sequence Bthen field 30F is...
VANI, DIGI, NOTO Any value Mandatory
BINA EURO Mandatory
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Sequence Aif field 12F is...
Sequence Aand field 12E is...
Sequence Bthen field 30F is...
BINA AMER Not allowed
C8
In sequence B, the presence of field 84a depends on the value of fields 12F, 17A and 17F in sequence A as follows(Error code(s): D25):
Sequence Aif field 12F is...
Sequence Aand field 17A is...
Sequence Aand field 17F is...
Sequence Bthen field 84a is...
VANI N N Not allowed
VANI N Y Mandatory
VANI Y N Mandatory
VANI Y Y Mandatory
Not VANI n/a n/a Mandatory
The first line of the table above will only be applicable when the MT 306 will also be used for plain vanilla options(when rule C1 will be removed).
C9
In sequences C and E (if present - see also rule C13), if field 56a is not present, then field 86a in the same sequence Cor E is not allowed, otherwise field 86a is optional (Error code(s): E35):
Sequence Cif field 56a is...
Sequence Cthen field 86a is
Not present Not allowed
Present Optional
Sequence Eif field 56a is...
Sequence Ethen field 86a is...
Not present Not allowed
Present Optional
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C10
The presence of sequence D and the presence of sequence G depend on the value of field 12F in sequence A as follows(Error code(s): D30):
Sequence Aif field 12F is...
then sequence Dis...
then sequence Gis...
VANI Mandatory Not allowed
Not VANI Not allowed Mandatory
C11
In sequence D, if present, ie, if field 12F in sequence A contains VANI (see also rule C10), the presence of field 30Pand the presence of field 30Q depend on the value of field 12E in sequence A as follows (Error code(s): D31):
Sequence Aand field 12E is...
Sequence Dthen field 30P is...
Sequence Dand field 30Q is...
AMER Mandatory Not allowed
BERM Not allowed Mandatory (ie, at least one occur-rence must be present)
Any other value Not allowed Not allowed
C12
In sequence D, if present, ie if field 12F in sequence A contains VANI (see also rule C10), the allowed values for field26F depend on the value of field 17F in sequence A as follows (Error code(s): D33):
Sequence Aif field 17F is...
Sequence Dthen, the allowed values for field 26F are...
Y NETCASH
N NETCASH, PRINCIPAL
C13
The presence of sequence E depends on the values of field 12F and Type of Event (subfield 1 of field 22K) in sequenceA as follows (Error code(s): D32):
Sequence Aif field 12F is...
Sequence Aand subfield 1 of field 22K is...
then sequence Eis...
VANI Any value Not allowed
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Sequence Aif field 12F is...
Sequence Aand subfield 1 of field 22K is...
then sequence Eis...
BINA or DIGI Any value Mandatory
NOTO Not TRIG Mandatory
NOTO TRIG Not allowed
C14
In sequence E, if present (see also rule C13), the presence of field 30H depends on the value of Type of Event (subfield1 of field 22K) in sequence A as follows (Error code(s): D34):
Sequence Aif subfield 1 of field 22K is...
Sequence Ethen field 30H is...
TRIG Mandatory
Not TRIG Not allowed
C15
The presence of sequence F depends on the value of field 17A in sequence A as follows (Error code(s): D43):
Sequence Aif field 17A is...
then sequence Fis...
Y Mandatory
N Not allowed
C16
In sequence F (see also rule C15), the presence of the field 37L depends on the value of field 22G as follows (Errorcode(s): D44):
Sequence Fif field 22G is...
Sequence Fthen field 37L is...
SKIN Not allowed
SKOT Not allowed
DKIN Mandatory
DKOT Mandatory
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C17
In sequence G (see also rule C10), the presence of the field 37P depends on the value of field 22J as follows (Errorcode(s): D46):
Sequence Gif field 22J is...
Sequence Gthen field 37P is...
SITR Not allowed
DBTR Mandatory
C18
The presence of sequence H depends on the value of field 17F in sequence A as follows (Error code(s): D47):
Sequence Aif field 17F is...
then sequence His...
Y Mandatory
N Not allowed
C19
The presence of sequence I, and the presence of fields 88a and 71F in sequence I, depend on the value of field 94A insequence A as follows (Error code(s): D74):
Sequence Aif field 94A is...
Then Sequence I is... Sequence Iand field 88a is...
Sequence Iand field 71F is...
Not present Optional Optional Not allowed
BROK Mandatory Mandatory Optional
Not BROK Optional Optional Not allowed
C20
In sequence I, field 15I may not be the only field, ie, if field 15I is present then at least one of the other fields ofsequence I must be present (Error code(s): C98).
MT 306 Usage RulesFor the actual transfer of funds or the confirmation of credits and debits, other messages outside Category 3 are avail-able such as the MTs 202, 203, 205, financial institution transfer messages and the MTs 900, 910, 950, confirmation ofdebit/credit and statement messages, respectively.
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In all cases, the common reference of the MT 306 must be quoted in the relevant reference field, ie, field 21 of the MTs202, 203, 205.
To cancel a previously sent message (field 22A is CANC):field 21 must contain the reference, ie, the content of field 20, of the message containing the instruction to be cancelledthe cancellation message must contain the full details of the confirmation to be cancelled.
To amend a previously sent message (field 22A is AMND):field 21 must contain the reference, ie, the content of field 20, of the message containing the instruction to be amendedthe amendment message must contain both the unchanged and the changed/new fields of the original messagethe amendment message replaces the original message.
Industry requirements
If field 77H specifies ISDA as the type of master agreement, the 1998 FX and Currency Option Definitions (the ’FX definitions’) (as published by the International Swaps and Derivatives Association, Inc., the Emerging Markets Traders Association and The Foreign Exchange Committee) as amended and supplemented from time to time are incorporatedinto this confirmation unless field 14C states another version of the above mentioned ’FX definitions’.If field 77H specifies ISDA as the type of master agreement and Party A and Party B are parties to an ISDA Master Agreement or an Interest Rate and Currency Exchange Agreement (each an ’Agreement’), this Confirmation consti-tutes a ’Confirmation’ as referred to in, and supplements, forms a part of, and is subject to that Agreement.
If Party A and Party B are not parties to an Agreement, this Confirmation evidences a complete binding agreementbetween Party A and Party B as to the terms of the Transaction to which this Confirmation relates. Party A and Party Bagree to use all reasonable efforts promptly to negotiate, execute and deliver an agreement in the form of the 1992ISDA Master Agreement (Multicurrency-Cross Border) (the ’ISDA Form’), with such modifications as Party A andParty B will in good faith agree. Upon the execution by Party A and Party B of such an agreement, this Confirmationwill supplement, form part of, and be subject to that agreement. All provisions contained or incorporated by referencein that agreement upon its execution will govern this Confirmation except as expressly modified below. Until weexecute and deliver that agreement, this Confirmation, together with all other documents referring to the ISDA Form(each a ’Confirmation’) confirming transactions (each a ’Transaction’) entered into between Party A and Party B (notwithstanding anything to the contrary in a Confirmation), shall supplement, form part of, and be subject to an agreement in the form of the ISDA Form as if Party A and Party B had executed an agreement in such form (butwithout any Schedule thereto except for the election of English Law as the governing law and GBP as the TerminationCurrency) on the Trade Date of the first such Transaction between us. In the event of any inconsistency between the provisions of that agreement and this Confirmation, this confirmation will prevail for the purpose of this Transaction.
If field 77H specifies DERV as the type of master agreement and if Party A and Party B are parties to a ’Rahmenver-trag für Finanztermingeschäfte’ (the ’German Master Agreement’), this Transaction is subject to the terms and condi-tions of that German Master Agreement.
If Party A and Party B are not parties to a German Master Agreement, this Transaction evidences a complete andbinding agreement between Party A and B. Until Party A and B execute and deliver a German Master Agreement, this Transaction and any other transaction between the parties within the scope of the German Master Agreement form asingle agreement. Upon execution of the German Master Agreement between Party A and B, this Transaction willbecome an ’Einzelabschluß’ as defined in Section 1(2) of the German Master Agreement.
If some of the standard definitions linked to the agreement specified in field 77H do not apply to the confirmation of atrade under that agreement, a long form confirmation must be sent.Conventions for vanilla options with barriers:
spot market definition:the ’spot market’ means any major over-the-counter foreign exchange trading center which is open for spot transactions at any time between Monday 5:00 am Sydney time and Friday 5:00 pm New York time inclusivein each week, up to and including the expiry time on the expiry datethe calculation agent, acting in good faith and in a commercially reasonable manner, shall be responsible for monitoring the prevailing spot market rate and determining a trigger/barrier event.
trigger event:a trigger event will occur, if at any time from the barrier window start time on the barrier window start dateup to and including the barrier window end time on the barrier window end date, the spot exchange rate
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trades at or beyond a barrier level, as determined by the calculation agentthe calculation agent shall notify the counterparty within 24 hours if it determines that a trigger event hasoccurred. A failure to give such a notice shall not however prejudice or invalidate the occurrence or effect ofthat event.
exercise of option (subject to trigger event):valid exercise of an option entitles the buyer to buy and sell the currencies in the amounts specified for valueon the final settlement date. (European style)valid exercise of an option entitles the buyer to buy and sell the currencies in the amounts specified for valuetwo business days after the exercise date. (American style)a notice of exercise of the option may be given orally or in writing. If given orally, it shall be confirmed assoon as possible. However, any failure to confirm such notice of exercise shall not prejudice or invalidatesuch notice of exerciseany notice of exercise must be received by the seller at or before the expiration time on the expiration date.No notice of exercise shall be valid if received by the seller later than the expiration time on the expirationdate. A notice of exercise, once received by the seller, is irrevocable without the consent of the seller.
Conventions for binary options:spot market definition:
the ’spot market’ means any major over-the-counter foreign exchange trading centre which is open for spot transactions at any time between Monday 5:00 am Sydney time and Friday 5:00 pm New York time inclusivein each week, up to and including the expire time on the expire datethe calculation agent, acting in good faith and in a commercially reasonable manner, shall be responsible for monitoring the prevailing spot market rate and determining a trigger/barrier event.
payout arrangement:the payout amount will become payable on the settlement date (European style) or two business days afterthe trigger date (American style) to the buyer in respect of the digital option, if the spot exchange rate tradesat or beyond a trigger level, at any time up to and including the expiration time on the expiration date, as determined by the calculation agent, provided that only one payout amount shall be due in respect of the optionthe calculation agent shall notify the counterparty within 24 hours if it determines that a payout amount isdue. A failure to give such a notice shall not however prejudice or invalidate the occurrence or effect of that event.
Conventions for digital options:spot market definition:
the ’spot market’ means any major over-the-counter foreign exchange trading centre which is open for spot transactions at any time between Monday 5:00 am Sydney time and Friday 5:00 pm New York time inclusivein each week, up to and including the expire time on the expire datethe calculation agent, acting in good faith and in a commercially reasonable manner, shall be responsible for monitoring the prevailing spot market rate and determining a trigger/barrier event.
payout arrangement:the payout amount will become payable on the settlement date to the buyer in respect of the digital option, ifthe spot level is beyond a trigger level at the expiration time on the expiration date, as determined by the calculation agent, provided that only one payout amount shall be due in respect of the optionthe calculation agent shall notify the counterparty within 24 hours if it determines that a payout amount isdue. A failure to give such a notice shall not however prejudice or invalidate the occurrence or effect of that event.
Conventions for notouch options:spot market definition:
the ’spot market’ means any major over-the-counter foreign exchange trading centre which is open for spot transactions at any time between Monday 5:00 am Sydney time and Friday 5:00 pm New York time inclusivein each week, up to and including the expiry time on the expiry datethe calculation agent, acting in good faith and in a commercially reasonable manner, shall be responsible for monitoring the prevailing spot market rate and determining a trigger/barrier event.
payout arrangement:the seller of the option will make a payment equal to the payout amount, on the settlement date provided thatthe option has not lapsed in accordance with clause concerning trigger event belowonce the option has deemed to have lapsed in accordance with clause concerning trigger event below, it will immediately expire and the buyer of the option will no longer be entitled to any payout amount under this option.
trigger event:
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a trigger event will occur, if at any time from trade inception, up to and including the expiration time on the expi-ration date, the spot exchange rate trades at or beyond a trigger level, as determined by the calculation agentthe calculation agent shall notify the counterparty within 24 hours if it determines that a trigger event hasoccurred. A failure to give such a notice shall not however prejudice or invalidate the occurrence or effect of that event.
MT 306 GuidelinesThe MT 392 can also be used for cancellation. The following issues however, have to be considered:
Acknowledgement: by sending the MT 392, the sender requests the receiver to cancel the confirmation previously sent.The receiver must acknowledge the request by sending an MT 396 back to the sender of the MT 392.Routing: the MT 392 might not be routed to the same destination as the MT 306 to be cancelled.Repetition of the original message: in the MT 392, only the sender’s reference of the previous message is mandatory,all other fields are optional. When an MT 306 with CANC is used, the fields to be copied are mandated by the stan-dard.
Settlement Details
The table below shows how the different settlement parties involved in the deal can be identified. The table is presentedfrom party A’s point of view.
Whenever possible, users should use option A to identify institutions in these fields. Use of free text, ie, option D, exceptwhen used to specify recognized code words, is strongly discouraged. Option D not only precludes party B from matchingand further processing the message automatically but also is contrary to the message text standards which state that option Dis only to be used when no other option is available.
Option J is only used when exchanging messages with fund managers.
Normally, the beneficiary is party A for the amount bought and party B for the amount sold. If party A or party B forwardsthe funds to an ultimate beneficiary institution, this institution is included in field 58a.
Party A services account of party B. No separate settlement messages are sent.
Party A will RECEIVE funds from Party B Party A will PAY funds to Party B
Party A will debit party B’s account. Party A will credit party B’s account
:53a: not used :53a: not used
:86a: not used :86a: not used
:56a: not used :56a: not used
:57a:[/account no of party B]party A
:57a:[/account no of party B]party A
Party B services account of party A. No separate settlement messages are sent.
Party A will RECEIVE funds from Party B Party A will PAY funds to Party B
Party B will credit party A’s account Party B will debit party A’s account
:53a: not used :53a: not used
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Party A will RECEIVE funds from Party B Party A will PAY funds to Party B
:86a: not used :86a: not used
:56a: not used :56a: not used
:57a:[/account no of party A]party B
57a:[/account no of party A]party B
Beneficiary’s account serviced by a financial institution other than party A or party B. The payer sends an MT 202 toits correspondent who will then send an MT 205 or equivalent to the correspondent of the payee. The correspondentcan be a branch of the party.
Party A will RECEIVE funds from Party B Party A will PAY funds to Party B
Credit to party A’s account with that financial institution
Credit to party B’s account with that financial insti-tution
[:53a: Correspondent of party B] [:53a: Correspondent of party A]
:86a: not used :86a: not used
:56a: not used :56a: not used
:57a:[/account no of party A]correspondent of party A
:57a:[/account no of party B]correspondent of party B
Beneficiary receives the funds through another institution (eg, BANK x for party x).
The payer sends an MT 202 to its correspondent. The correspondent will then send an MT 205 or equivalent to the correspondent of BANK x, ie, CORR x. CORR x will then send an MT 202 to BANK x who will then send an MT 950to party x.
Field 56a identifies where BANK x will receive the funds.
Party A will RECEIVE funds from Party B Party A will PAY funds to Party B
BANK A will receive the funds for party A BANK B will receive the funds for party B
[:53a:Correspondent of party B] [:53a:Correspondent of party A]
:86a: not used :86a: not used
:56a:[/account no of BANK A]CORR A
:56a:[/account no of BANK B]CORR B
:57a:[/account no of party A]BANK A
:57a:[/account no of party B]BANK B
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Beneficiary receives the funds through another institution (eg, BANK x for party x), the correspondent of BANK x,CORR x also uses a correspondent.
The payer sends an MT 202 to its correspondent. The correspondent will then send an MT 205 or equivalent to the correspondent of CORR x. The correspondent of CORR x will then send an MT 202 to CORR x. CORR x will thensend an MT 202 to BANK x who will then send an MT 950 to party x.
Field 86a identifies where CORR x will receive the funds.
Field 56a identifies the correspondent of BANK x.
Party A will RECEIVE funds from Party B Party A will PAY funds to Party B
BANK A will receive the funds for party A viaCORR A
BANK B will receive the funds for party B viaCORR B
[:53a:Correspondent of party B] [:53a:Correspondent of party A]
:86a:[/account of CORR A]correspondent of CORR A
:86a:[/account no of CORR B]correspondent of CORR B
:56a:[/account no of BANK A]CORR A
:56a:[/account no of BANK B]CORR B
:57a:[/account no of partyA]BANK A
:57a:[/account no of party B]BANK B
Beneficiary to receive the funds directly through a clearing system.
The payer sends an MT 202 to its correspondent who will then send an MT 202 the payee.
Party A will RECEIVE funds from Party B Party A will PAY funds to Party B
Party A will receive the funds through clearing Party B will receive the funds through clearing
[:53a:Correspondent of party B] [:53a:Correspondent of party A]
:86a: not used :86a: not used
:56a: not used :56a: not used
:57a:/CLEARparty A
:57a:/CLEARparty B
The counterparties use their standing settlement instructions.
Party A will RECEIVE funds from Party B Party A will PAY funds to Party B
:53a: not used :53a: not used
:86a: not used :86a: not used
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Party A will RECEIVE funds from Party B Party A will PAY funds to Party B
:56a: not used :56a: not used
:57D:SSI :57D:SSI
The payment flows are netted based on a bilateral agreement.
Party A will RECEIVE funds from Party B Party A will PAY funds to Party B
:53a: not used :53a: not used
:86a: not used :86a: not used
:56a: not used :56a: not used
:57D:NET :57D:NET
There is no payment (amount is zero) or the settlement details are irrelevant.
Party A will RECEIVE funds from Party B Party A will PAY funds to Party B
:53a: not used :53a: not used
:86a: not used :86a: not used
:56a: not used :56a: not used
:57D:NONE :57D:NONE
The settlement details are not known at the time the confirmation is issued.
Party A will RECEIVE funds from Party B Party A will PAY funds to Party B
:53a: not used :53a: not used
:86a: not used :86a: not used
:56a: not used :56a: not used
:57D:UNKNOWN :57D:UNKNOWN
Note: It is only necessary to quote an account number when multiple accounts are serviced for the same institution.
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MT 306 Field Specifications
1. Field 15A: New Sequence
FORMAT
Option A Empty field
PRESENCE
Mandatory
DEFINITION
This field specifies the start of mandatory sequence A General Information.
USAGE RULES
Only the field tag must be present, the field is empty.
2. Field 20: Sender’s Reference
FORMAT
16x
PRESENCE
Mandatory
DEFINITION
This field specifies the reference assigned by the Sender to unambiguously identify the message.
NETWORK VALIDATED RULES
This field must not start or end with a slash ’/’ and must not contain two consecutive slashes ’//’ (Error code(s): T26).
USAGE RULES
The reference assigned to a message is used for cross-referencing purposes in subsequent messages, such as following confirmation and statement messages as well as queries. It is therefore essential for the identification of the original messagesent that this reference be unique.
3. Field 21: Related Reference
FORMAT
16x
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PRESENCE
Conditional (C2)
DEFINITION
This field contains the identification of the message to which the current message is related.
NETWORK VALIDATED RULES
This field must not start or end with a slash ’/’ and must not contain two consecutive slashes ’//’ (Error code(s): T26).
USAGE RULES
When used, this field must contain the Sender’s reference (field 20) of the previous confirmation which is to be amended,cancelled or closed out by this message.
4. Field 22A: Type of Operation
FORMAT
Option A 4!c (Function)
PRESENCE
Mandatory
DEFINITION
This field specifies the function of the message.
CODES
Function must contain one of the following codes (Error code(s): T36):
AMND Replaces a previously sent message with the amended one contained in this message.Used to add settlement agents to an MT 306 previously sent-or-to correct error(s) in an MT 306 previously sent.
CANC Cancels a previously sent message.Used to cancel an MT 306 previously sent-or-to cancel an MT 306 which contains erroneous information.
NEWT New confirmation.Used to send the MT 306 for the first time-or-to send a corrected MT 306 when the erroneous one was cancelled using an MT 306 with function CANC.
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USAGE RULES
As the amend message replaces the previously sent confirmation, it must contain both the amended fields and the fieldswhich are not changed.
When the cancel function is used, the message must reconfirm the full details of the original transaction.
An amendment or cancellation message always refers to the previous confirmation identified in field 21.
5. Field 94A: Scope of Operation
FORMAT
Option A 4!c (Scope)
PRESENCE
Optional
DEFINITION
This field specifies the role of the Sender and the Receiver of the message in the conclusion of the confirmed trade.
CODES
Scope must contain one of the following codes (Error code(s): T36):
AGNT Sender/Receiver is sending/receiving the message on behalf of a third party.
BILA Bilateral confirmation, ie, Sender and Receiver are the principals.
BROK Confirmation is sent by a money broker.
USAGE RULES
The absence of this field means that the Sender and the Receiver are the principals, ie, Scope is BILA.
AGNT is used when the confirmation has been sent or received on behalf of a separate legal party and that party has donethe deal.
6. Field 22C: Common Reference
FORMAT
Option C 4!a2!c4!n4!a2!c (Bank Code 1) (Location Code 1) (Reference Code) (BankCode 2) (Location Code 2)
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PRESENCE
Mandatory
DEFINITION
This field contains a reference common to both the Sender and the Receiver.
NETWORK VALIDATED RULES
This field consists of the bank and location codes (Error code(s): T95) (from the ISO Bank Identifier Code) of both theSender and the Receiver of the MT 306. These codes must appear in alphabetical order (letters take precedence overnumbers) (Error code(s): T96).
Location Code 1 and Bank Code 2 are separated by four digits, which must consist of the rightmost non-zero digit of field36 in sequence D, when the option style is Vanilla, or the field 37U in sequence G when the option style is different fromVanilla, preceded by the three digits to the left of it. If there are no digits to the left of it, the space must be zero filled (Errorcode(s): T22).
7. Field 21N: Contract Number Party A
FORMAT
Option N 16x
PRESENCE
Mandatory
DEFINITION
This field specifies the contract number of the transaction from party A’s viewpoint.
USAGE RULES
This field must remain the same throughout the whole life of the transaction. It is used by party A to link the trigger event orclose out to the original transaction.
8. Field 21B: Contract Number Party B
FORMAT
Option B 16x
PRESENCE
Optional
DEFINITION
This field specifies the contract number of the transaction from party B’s viewpoint.
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USAGE RULES
This field should be used by party A whenever the information is available. It is used by party B to link the trigger event orclose out to the original transaction.
9. Field 12F: Option Style
FORMAT
Option F 4!c (Option Style)
PRESENCE
Mandatory
DEFINITION
This field specifies the option style.
CODES
Option Style must contain one of the following codes (Error code(s): T64):
BINA A binary option is an agreement under which a fixed amount is paid out if a specific condition is metat any time during the exercise period. The expiration style is European or American. The binaryoption has only "payment triggers".
DIGI A digital option is an agreement under which a fixed amount is paid out if a specific condition is meton expiration date. The digital option has only "payment triggers" which may be single or doubletrigger level.
NOTO A notouch option is an agreement under which a fixed amount is paid unless a specific condition ismet. The notouch option has only "no payment triggers" which may be single or double trigger levels.
VANI A vanilla option is a contract that provides the buyer the right but not the obligation to buy or sell the underlying currency at a predetermined rate with expiration determined by the expiration style. The expiration style is European, American or Bermudan.
10. Field 12E: Expiration Style
FORMAT
Option E 4!c (Expiration Style)
PRESENCE
Mandatory (C3)
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DEFINITION
This field specifies the expiration style.
CODES
Expiration Style must contain one of the following codes (Error code(s): T66):
AMER American: the option can be exercised on any date prior to and including expiration date as agreed bythe parties to the trade.
BERM Bermudan or Mid-Atlantic: the option can be exercised on predetermined exercise dates as agreed toby the counterparts.
EURO European: the option can be exercised on expiration date, at or before expiration time.
11. Field 17A: Barrier Indicator
FORMAT
Option A 1!a (Indicator)
PRESENCE
Mandatory
DEFINITION
This field specifies whether the option has a barrier or not.
CODES
Indicator must contain one of the following codes (Error code(s): T36):
N The option has no barrier.
Y The option has a barrier.
12. Field 17F: Non-Deliverable Indicator
FORMAT
Option F 1!a (Indicator)
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PRESENCE
Mandatory
DEFINITION
The Non-Deliverable Indicator (NDO) specifies whether the option is deliverable or not.
CODES
Indicator must contain one of the following codes (Error code(s): T36):
N A deliverable option.
Y A non-deliverable option, ie, the option seller will pay the option buyer the in-the-money amount, if positive, on settlement date.
13. Field 22K: Type of Event
FORMAT
Option K 4!c[/35x] (Type of Event) (Narrative)
PRESENCE
Mandatory (C4)
DEFINITION
This field specifies the event in the life of the option.
CODES
Type of Event must contain one of the following codes (Error code(s): T48):
CLST This is a confirmation of a close out.
CONF This is a first confirmation.
KNIN This is a notice of a knock-in: the option has a specified spot level, which, if touched during theknock-in period, triggers the option into existence. Prior to that level being touched, no option exists.
KNOT This is a notice of a knock-out: the option has a specified spot level, which, if touched during theknock-out period, terminates the option.
OTHR Any other event, as specified in the second subfield.
TRIG This is a notice of a trigger hit.
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NETWORK VALIDATED RULES
If Type of Event contains the code OTHR, Narrative is mandatory; otherwise Narrative is not allowed (Error code(s): D81).
14. Field 30U: Date of Trigger Hit
FORMAT
Option U 8!n (Date)
PRESENCE
Conditional (C5)
DEFINITION
This field specifies the date on which the event (knock-in, knock-out or trigger) occurred.
NETWORK VALIDATED RULES
Date must be a valid date expressed as YYYYMMDD (Error code(s): T50).
15. Field 29H: Location of Trigger Hit
FORMAT
Option H 4!c (Location)
PRESENCE
Conditional (C5)
DEFINITION
This field specifies the financial center of the trigger event.
CODES
One of the following codes can be used:
Code Financial Center
ARBA Buenos Aires
ATVI Vienna
AUME Melbourne
AUSY Sydney
BEBR Brussels
BRSP São Paulo
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Code Financial Center
CAMO Montreal
CATO Toronto
CHGE Geneva
CHZU Zurich
CLSA Santiago
CNBE Beijing
CZPR Prague
DEFR Frankfurt
DKCO Copenhagen
EETA Tallinn
ESMA Madrid
FIHE Helsinki
FRPA Paris
GBLO London
GRAT Athens
HKHK Hong Kong
HUBU Budapest
IDJA Jakarta
IEDU Dublin
ILTA Tel Aviv
ITMI Milan
ITRO Rome
JPTO Tokyo
KRSE Seoul
LBBE Beirut
LULU Luxembourg
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Code Financial Center
MYKL Kuala Lumpur
MXMC Mexico City
NLAM Amsterdam
NOOS Oslo
NYFD New York Fed
NYSE New York Stock Exchange
NZAU Auckland
NZWE Wellington
PAPC Panama City
PHMA Manila
PLWA Warsaw
PTLI Lisbon
RUMO Moscow
SARI Riyadh
SEST Stockholm
SGSI Singapore
SKBR Bratislava
THBA Bangkok
TRAN Ankara
TWTA Taipei
USCH Chicago
USLA Los Angeles
USGS U.S. Governement Securities
USNY New York
ZAJO Johannesburg
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USAGE RULES
The codes are based on the ISO country code and the English name of the location.
Additional location codes must be built as follows: the first 2 characters represent the ISO country code, the next two char-acters represent 1) if the location name is one word, the first two letters of the location 2) if the location name consists of atleast two words, the first letter of the first word followed by the first letter of the second word.
16. Field 82a: Party A
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC/BEI)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Mandatory
DEFINITION
This field identifies party A.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC/BEI or UKWN if BIC/BEI not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/ O followed by a clearing code
M = Mandatory O = Optional
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NETWORK VALIDATED RULES
The BIC/BEI must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
USAGE RULES
For matching purposes, option A must be used when available.
Party A is either the sender :94A:BILA, or, the institution or corporate on whose behalf the message is sent :94A:AGNT,except when the Sender is a money broker :94A:BROK.
Please refer to the Scope for this MT.
17. Field 87a: Party B
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC/BEI)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Mandatory
DEFINITION
This field identifies party B.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC/BEI or UKWN if BIC/BEI not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/ O followed by a clearing code
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M = Mandatory O = Optional
NETWORK VALIDATED RULES
The BIC/BEI must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
USAGE RULES
For matching purposes, option A must be used when available.
Party B is either the receiver :94A:BILA, or, the institution or corporate on whose behalf the message is received :94A:AGNT except when the Sender is a money broker :94A:BROK.
Please refer to the Scope for this MT.
18. Field 77H: Type, Date, Version of the Agreement
FORMAT
Option H 6a[/8!n][//4!n] (Type of Agreement) (Date) (Version)
PRESENCE
Mandatory
DEFINITION
This field specifies the type of the agreement covering the transaction. It is followed by the date on which the agreementwas signed and the version of the agreement.
CODES
Type of Agreement must contain one of the following codes (Error code(s): T47):
AFB AFB Master Agreement.
DERV Rahmenvertrag für Finanztermingeschäfte.
FEOMA FEOMA Master Agreement.
ICOM ICOM Master Agreement.
IFEMA IFEMA Master Agreement.
ISDA ISDA Master Agreement.
OTHER Another type of bilateral agreement signed up front between party A and party B. The agreement mustbe specified in field 77D.
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NETWORK VALIDATED RULES
Date must be a valid date expressed as YYYYMMDD (Error code(s): T50).
Version must be a valid year expressed as YYYY (Error code(s): T50).
USAGE RULES
In a DERV and ISDA agreement, the absence of the second and third subfield means either that the information is not avail-able or that the agreement is under negotiation.
When ICOM terms are used and when there is no signed agreement, the type should contain ICOM and both the date andthe version should not be used.
In another agreement, Date and Version are optional.
The code OTHER must not be used in the case of an AFB, DERV, FEOMA, ICOM, IFEMA or ISDA Master Agreement.
19. Field 77D: Additional Conditions
FORMAT
Option D 6*35x (Narrative)
PRESENCE
Conditional (C6)
DEFINITION
This field contains additional information concerning the terms and conditions of the underlying agreement.
USAGE RULES
This field may contain additional information related to termination events, pricing sources, settlement rate sources etc... fornon deliverable options.
Bilaterally agreed code words may be used in this field.
20. Field 14C: Year of Definitions
FORMAT
Option C 4!n (Year)
PRESENCE
Optional
DEFINITION
This field specifies the year of the version of the Agreement’s Definitions applicable to the MT 306 Foreign CurrencyOption Confirmation.
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USAGE RULES
The default value is 1998, ie, the 1998 FX and Currency Option Definitions published by ISDA, EMTA and the US FX Committee.
21. Field 15B: New Sequence
FORMAT
Option B Empty field
PRESENCE
Mandatory
DEFINITION
This field specifies the start of mandatory sequence B Transaction Details.
USAGE RULES
Only the field tag must be present, the field is empty.
22. Field 17V: Buy (Sell) Indicator
FORMAT
Option V 1!a (Indicator)
PRESENCE
Mandatory
DEFINITION
This field specifies whether party A is the buyer or the seller of the option.
CODES
Indicator must contain one of the following codes (Error code(s): T67):
B Buyer: party A pays the premium and receives the payout amount if applicable.
S Seller: party A receives the premium and pays the payout amount if applicable.
23. Field 30T: Trade Date
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FORMAT
Option T 8!n (Date)
PRESENCE
Mandatory
DEFINITION
This date specifies the date the transaction was agreed between party A and party B.
NETWORK VALIDATED RULES
Date must be a valid date expressed as YYYYMMDD (Error code(s): T50).
USAGE RULES
The trade date remains the same when a confirmation is amended (corrected/completed) unilaterally. When the terms of thedeal are renegotiated on a bilateral basis, the trade date reflects the date of renegotiation in the amend message.
24. Field 30X: Expiration Date
FORMAT
Option X 8!n (Date)
PRESENCE
Mandatory
DEFINITION
This date specifies the date on which the option expires.
NETWORK VALIDATED RULES
Date must be a valid date expressed as YYYYMMDD (Error code(s): T50).
25. Field 29E: Expiration Location and Time
FORMAT
Option E 4!c/4!n (Location) (Time)
PRESENCE
Mandatory
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DEFINITION
This field specifies the location and time at which the option expires.
CODES
Location may contain one of the following codes:
Code Financial Center
ARBA Buenos Aires
ATVI Vienna
AUME Melbourne
AUSY Sydney
BEBR Brussels
BRSP São Paulo
CAMO Montreal
CATO Toronto
CHGE Geneva
CHZU Zurich
CLSA Santiago
CNBE Beijing
CZPR Prague
DEFR Frankfurt
DKCO Copenhagen
EETA Tallinn
ESMA Madrid
FIHE Helsinki
FRPA Paris
GBLO London
GRAT Athens
HKHK Hong Kong
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Code Financial Center
HUBU Budapest
IDJA Jakarta
IEDU Dublin
ILTA Tel Aviv
ITMI Milan
ITRO Rome
JPTO Tokyo
KRSE Seoul
LBBE Beirut
LULU Luxembourg
MYKL Kuala Lumpur
MXMC Mexico City
NLAM Amsterdam
NOOS Oslo
NYFD New York Fed
NYSE New York Stock Exchange
NZAU Auckland
NZWE Wellington
PAPC Panama City
PHMA Manila
PLWA Warsaw
PTLI Lisbon
RUMO Moscow
SARI Riyadh
SEST Stockholm
SGSI Singapore
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Code Financial Center
SKBR Bratislava
THBA Bangkok
TRAN Ankara
TWTA Taipei
USCH Chicago
USLA Los Angeles
USGS U.S. Governement Securities
USNY New York
ZAJO Johannesburg
NETWORK VALIDATED RULES
Time must be a valid time expressed as HHMM (Error code(s): T38).
USAGE RULES
The codes are based on the ISO country code and the English name of the location.
Additional location codes must be built as follows: the first 2 characters represent the ISO country code, the next two char-acters represent 1) if the location name is one word, the first two letters of the location 2) if the location name consists of atleast two words, the first letter of the first word followed by the first letter of the second word.
26. Field 30F: Final Settlement Date
FORMAT
Option F 8!n (Date)
PRESENCE
Conditional (C7)
DEFINITION
This field specifies the value date (or latest value date for an American style vanilla option) of the foreign exchange transac-tion in which the option may result or the value of the payment of the payout or netted amount.
NETWORK VALIDATED RULES
Date must be a valid date expressed as YYYYMMDD (Error code(s): T50).
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27. Field 37K: Premium Price
FORMAT
Option K 3!a12d (Currency) (Rate)
PRESENCE
Optional
DEFINITION
This field specifies either the currency and amount of the premium price or the rate which is used to calculate the premium amount.
NETWORK VALIDATED RULES
Currency must be a valid ISO 4217 currency code or the code PCT (Error code(s): T52).
The integer part of Rate must contain at least one digit. A decimal comma is mandatory and is included in the maximumlength (Error code(s): T40, T43).
USAGE RULES
Rate can be expressed in the form of a percentage or in the form of points per unit of either currency amount. When the rateis expressed in the form of a percentage, Currency must contain PCT. When the rate is expressed in the form of points perunit of either currency amount, the currency code must be specified in Currency.
28. Field 30V: Premium Payment Date
FORMAT
Option V 8!n (Date)
PRESENCE
Mandatory
DEFINITION
This field specifies the date the premium is paid.
NETWORK VALIDATED RULES
Date must be a valid date expressed as YYYYMMDD (Error code(s): T50).
29. Field 34B: Premium Currency and Amount
FORMAT
Option B 3!a15d (Currency) (Amount)
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PRESENCE
Mandatory
DEFINITION
This field specifies the premium currency and amount which the buyer of the option pays to the seller.
NETWORK VALIDATED RULES
Currency must be a valid ISO 4217 currency code (Error code(s): T52).
The integer part of Amount must contain at least one digit. A decimal comma is mandatory and is included in the maximumlength. The number of digits following the comma must not exceed the maximum number allowed for the specifiedcurrency (Error code(s): C03, T40, T43).
30. Field 84a: Calculation Agent
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC)
Option B [/1!a][/34x][35x]
(Party Identifier)(Location)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Conditional (C8)
DEFINITION
This field specifies the calculation or barrier determination agent.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC or UKWN if BIC not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
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/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/ O followed by a clearing code
M = Mandatory O = Optional
NETWORK VALIDATED RULES
The BIC must be a SWIFTregistered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
The BIC must not be a BEI, ie, must not be of subtype BEID, MCCO, TESP or TRCO (Error code(s): C05).
USAGE RULES
For matching purposes, option A must be used when available.
31. Field 15C: New Sequence
FORMAT
Option C Empty field
PRESENCE
Mandatory
DEFINITION
This field specifies the start of mandatory sequence C Settlement Instructions for Payment of Premium.
USAGE RULES
Only the field tag must be present, the field is empty.
32. Field 53a: Delivery Agent
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Optional
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DEFINITION
This field identifies the financial institution from which the option buyer will transfer the premium amount.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC or UKWN if BIC not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/or
O followed by a clearing code
/NETS/or
M A net settlement is taking place.
/SSIS/ M Standard settlement instructions are used.
M = Mandatory O = Optional
NETWORK VALIDATED RULES
The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
The BIC must not be a BEI, ie, must not be of subtype BEID, MCCO, TESP or TRCO (Error code(s): C05).
USAGE RULES
For matching purposes, option A must be used when available.
Field 53a is used only when the payer wants to inform the payee where the funds come from.
Please refer to the chapter Guidelines for this MT.
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33. Field 86a: Intermediary 2
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Conditional (C9)
DEFINITION
This field identifies the second intermediary institution for the transfer of the funds.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC or UKWN if BIC not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/or
O followed by a clearing code
/NETS/or
M A net settlement is taking place.
/SSIS/ M Standard settlement instructions are used.
M = Mandatory O = Optional
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NETWORK VALIDATED RULES
The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
The BIC must not be a BEI, ie, must not be of subtype BEID, MCCO, TESP or TRCO (Error code(s): C05).
USAGE RULES
This field is used when there is a second financial institution between the delivery institution and the receiving institution. Inthe payment chain, this intermediary comes before the first intermediary.
For matching purposes, option A must be used when available.
Please refer to the chapter Guidelines for this MT.
34. Field 56a: Intermediary
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Optional
DEFINITION
This field identifies the first intermediary institution for the transfer of the funds.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC or UKWN if BIC not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
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/CLRC/or
O followed by a clearing code
/NETS/or
M A net settlement is taking place.
/SSIS/ M Standard settlement instructions are used.
M = Mandatory O = Optional
NETWORK VALIDATED RULES
The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
The BIC must not be a BEI, ie, must not be of subtype BEID, MCCO, TESP or TRCO (Error code(s): C05).
USAGE RULES
This field is used when there is at least one financial institution between the delivery institution and the receiving institution.
For matching purposes, option A must be used when available.
Please refer to the chapter Guidelines for this MT.
35. Field 57a: Receiving Agent
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Mandatory
DEFINITION
This field identifies the financial institution and account where the option seller will receive the premium.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC or UKWN if BIC not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
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/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/or
O followed by a clearing code
/NETS/or
M A net settlement is taking place.
/SSIS/ M Standard settlement instructions are used.
M = Mandatory O = Optional
CODES
With option D, the following codes may also be used:
NET When net settlement takes place
NONE When no settlement is taking place.
SSI When standing settlement instructions apply.
UNKNOWN When the settlement instructions are not known.
NETWORK VALIDATED RULES
The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
The BIC must not be a BEI, ie, must not be of subtype BEID, MCCO, TESP or TRCO (Error code(s): C05).
USAGE RULES
For matching purposes, option A must be used when available.
Party Identifier in options A and D may be used to indicate a CHIPS Universal Identifier. When used, it must be precededby a double slash ’//’, and the code CH and 6 digits.
Please refer to the chapter Guidelines for this MT.
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36. Field 58a: Beneficiary Institution
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC/BEI)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Optional
DEFINITION
This field specifies the institution in favour of which the payment is made.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC/BEI or UKWN if BIC/BEI not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/ O followed by a clearing code
M = Mandatory O = Optional
NETWORK VALIDATED RULES
The BIC/BEI must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
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USAGE RULES
The default value is party A if the Buy (Sell) Indicator (field 17V in sequence B) contains the code S, ie, party A is theoption seller.
The default value is party B if the Buy (Sell) Indicator (field 17V in sequence B) contains the code B, ie, party A is theoption buyer.
For matching purposes, option A must be used when available.
Please refer to the chapter Guidelines for this MT.
37. Field 15D: New Sequence
FORMAT
Option D Empty field
PRESENCE
Mandatory in a conditional sequence (C10)
DEFINITION
This field specifies the start of conditional sequence D Vanilla Block
USAGE RULES
Only the field tag must be present, the field is empty.
38. Field 30P: Earliest Exercise Date
FORMAT
Option P 8!n (Date)
PRESENCE
Conditional (C11) in a conditional sequence (C10)
DEFINITION
This field specifies, in the case of an American style vanilla option, the earliest exercise date of this option.
NETWORK VALIDATED RULES
Date must be a valid date expressed as YYYYMMDD (Error code(s): T50).
USAGE RULES
The expiration location and time in sequence B also apply to the earliest exercise date.
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39. Field 30Q: Intermediate Exercise Date
FORMAT
Option Q 8!n (Date)
PRESENCE
Conditional (C11) in a conditional sequence (C10)
DEFINITION
This field specifies, in the case of a Bermudan style option, the intermediate exercise dates of this option.
NETWORK VALIDATED RULES
Date must be a valid date expressed as YYYYMMDD(Error code(s): T50).
USAGE RULES
The expiration location and time in sequence B also apply to the intermediate exercise date.
40. Field 26F: Settlement Type
FORMAT
Option F 9a (Settlement Type)
PRESENCE
Mandatory (C12) in a conditional sequence (C10)
DEFINITION
This field indicates how settlement is to be effected.
CODES
Settlement Type must contain one of the following codes (Error code(s): T60):
NETCASH The underlying amount of the option is to be compensated against a foreign exchange deal andthe seller of the option will settle the difference, in the counter currency, with the buyer.A non deliverable option (field 17F = Y) is cash settled with no foreign exchange deal behind it.
PRINCIPAL The underlying currency amount and the counter currency amount are exchanged at the exerciseof the option.
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41. Field 32B: Put Currency and Amount
FORMAT
Option B 3!a15d (Currency) (Amount)
PRESENCE
Mandatory in a conditional sequence (C10)
DEFINITION
This field specifies the put currency and amount.
NETWORK VALIDATED RULES
Currency must be a valid ISO 4217 currency code (Error code(s): T52).
The integer part of Amount must contain at least one digit. A decimal comma is mandatory and is included in the maximumlength. The number of digits following the comma must not exceed the maximum number allowed for the specifiedcurrency (Error code(s): C03, T40, T43).
42. Field 36: Strike Price
FORMAT
12d (Rate)
PRESENCE
Mandatory in a conditional sequence (C10)
DEFINITION
This field specifies the rate at which the put currency will be exchanged for the call currency.
NETWORK VALIDATED RULES
The integer part of Rate must contain at least one digit. A decimal comma is mandatory and is included in the maximumlength (Error code(s): T40, T43).
USAGE RULES
The rate is quoted following standard banking practice.
43. Field 33B: Call Currency and Amount
FORMAT
Option B 3!a15d (Currency) (Amount)
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PRESENCE
Mandatory in a conditional sequence (C10)
DEFINITION
This field specifies the call currency and amount.
NETWORK VALIDATED RULES
Currency must be a valid ISO 4217 currency code (Error code(s): T52).
The integer part of Amount must contain at least one digit. A decimal comma is mandatory and is included in the maximumlength. The number of digits following the comma must not exceed the maximum number allowed for the specifiedcurrency (Error code(s): C03, T40, T43).
44. Field 15E: New Sequence
FORMAT
Option E Empty field
PRESENCE
Mandatory in a conditional sequence (C13)
DEFINITION
This field specifies the start of conditional sequence E Payout Amount.
USAGE RULES
Only the field tag must be present, the field is empty.
45. Field 33E: Currency, Amount
FORMAT
Option E 3!a15d (Currency) (Amount)
PRESENCE
Mandatory in a conditional sequence (C13)
DEFINITION
This field specifies the payout currency and amount.
NETWORK VALIDATED RULES
Currency must be a valid ISO 4217 currency code (Error code(s): T52).
The integer part of Amount must contain at least one digit. A decimal comma is mandatory and is included in the maximumlength. The number of digits following the comma must not exceed the maximum number allowed for the specifiedcurrency (Error code(s): C03, T40, T43).
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46. Field 30H: Touch Payment Date
FORMAT
Option H 8!n (Date)
PRESENCE
Conditional (C14) in a conditional sequence (C13)
DEFINITION
This field specifies the date the amount is paid out.
NETWORK VALIDATED RULES
Date must be a valid date expressed as YYYYMMDD (Error code(s): T50).
47. Field 53a: Delivery Agent
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Optional in a conditional sequence (C13)
DEFINITION
This field identifies the financial institution from which the option seller will transfer the payout amount.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC or UKWN if BIC not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
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/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/or
O followed by a clearing code
/NETS/or
M A net settlement is taking place.
/SSIS/ M Standard settlement instructions are used.
M = Mandatory O = Optional
NETWORK VALIDATED RULES
The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
The BIC must not be a BEI, ie, must not be of subtype BEID, MCCO, TESP or TRCO (Error code(s): C05).
USAGE RULES
For matching purposes, option A must be used when available.
Field 53a is used only when the payer wants to inform the payee where the funds come from.
Please refer to the chapter Guidelines for this MT.
48. Field 86a: Intermediary 2
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Conditional (C9) in a conditional sequence (C13)
DEFINITION
This field identifies the second intermediary institution for the transfer of the funds.
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CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC or UKWN if BIC not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/or
O followed by a clearing code
/NETS/or
M A net settlement is taking place.
/SSIS/ M Standard settlement instructions are used.
M = Mandatory O = Optional
NETWORK VALIDATED RULES
The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
The BIC must not be a BEI, ie, must not be of subtype BEID, MCCO, TESP or TRCO (Error code(s): C05).
USAGE RULES
This field is used when there is a second financial institution between the delivery institution and the receiving institution. Inthe payment chain, this intermediary comes before the first intermediary.
For matching purposes, option A must be used when available.
Please refer to the chapter Guidelines for this MT.
49. Field 56a: Intermediary
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FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Optional in a conditional sequence (C13)
DEFINITION
This field identifies the first intermediary institution for the transfer of the funds.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC or UKWN if BIC not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/or
O followed by a clearing code
/NETS/or
M A net settlement is taking place.
/SSIS/ M Standard settlement instructions are used.
M = Mandatory O = Optional
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NETWORK VALIDATED RULES
The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
The BIC must not be a BEI, ie, must not be of subtype BEID, MCCO, TESP or TRCO (Error code(s): C05).
USAGE RULES
This field is used when there is at least one financial institution between the delivery institution and the receiving institution.
For matching purposes, option A must be used when available.
Please refer to the chapter Guidelines for this MT.
50. Field 57a: Receiving Agent
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Mandatory in a conditional sequence (C13)
DEFINITION
This field identifies the financial institution and account where the option buyer will receive the payout amount.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC or UKWN if BIC not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
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/CLRC/or
O followed by a clearing code
/NETS/or
M A net settlement is taking place.
/SSIS/ M Standard settlement instructions are used.
M = Mandatory O = Optional
CODES
With option D, one of the following codes may also be used:
NET When net settlement takes place
NONE When no settlement is taking place
SSI When standing settlement instructions apply
UNKNOWN When the settlement instructions are not known
NETWORK VALIDATED RULES
The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
The BIC must not be a BEI, ie, must not be of subtype BEID, MCCO, TESP or TRCO (Error code(s): C05).
USAGE RULES
For matching purposes, option A must be used when available.
Party Identifier in options A and D may be used to indicate a CHIPS Universal Identifier. When used, it must be precededby a double slash ’//’, and the code CH and 6 digits.
Please refer to the chapter Guidelines for this MT.
51. Field 58a: Beneficiary Institution
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC/BEI)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
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PRESENCE
Optional in a conditional sequence (C13)
DEFINITION
This field specifies the institution in favour of which the payment is made.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC/BEI or UKWN if BIC/BEI not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/ O followed by a clearing code
M = Mandatory O = Optional
NETWORK VALIDATED RULES
The BIC/BEI must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
USAGE RULES
The default value is party A if the Buy (Sell) Indicator (field 17V in sequence B) contains the code B, ie, party A is theoption buyer.
The default value is party B if the Buy (Sell) Indicator (field 17V in sequence B) contains the code S, ie, party A is theoption seller.
For matching purposes, option A must be used when available.
Please refer to the chapter Guidelines for this MT.
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52. Field 15F: New Sequence
FORMAT
Option F Empty field
PRESENCE
Mandatory in a conditional sequence (C15)
DEFINITION
This field specifies the start of conditional sequence F Barrier Block.
USAGE RULES
Only the field tag must be present, the field is empty.
53. Field 22G: Type of Barrier
FORMAT
Option G 4!c (Type of Barrier)
PRESENCE
Mandatory in a conditional sequence (C15)
DEFINITION
This field specifies the type of barrier.
CODES
Type of Barrier must contain one of the following codes (Error code(s): T71):
DKIN Double knock-in.
DKOT Double knock-out.
SKIN Single knock-in.
SKOT Single knock-out.
54. Field 37J: Barrier Level
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FORMAT
Option J 12d (Rate)
PRESENCE
Mandatory in a conditional sequence (C15)
DEFINITION
This field specifies the knock-in or knock-out level of the barrier option. For double barriers, this field specifies the upper level.
NETWORK VALIDATED RULES
The integer part of Rate must contain at least one digit. A decimal comma is mandatory and is included in the maximumlength (Error code(s): T40, T43).
55. Field 37L: Lower Barrier Level
FORMAT
Option L 12d (Rate)
PRESENCE
Conditional (C16) in a conditional sequence (C15)
DEFINITION
This field specifies the lower knock-in or knock-out level of the barrier option for double barriers.
NETWORK VALIDATED RULES
The integer part of Rate must contain at least one digit. A decimal comma is mandatory and is included in the maximumlength (Error code(s): T40, T43).
56. Field 30G: Barrier Window Start Date and End Date
FORMAT
Option G 8!n/8!n (Start Date) (End Date)
PRESENCE
Mandatory in a conditional sequence (C15)
DEFINITION
This field specifies the start and end dates of the barrier window.
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NETWORK VALIDATED RULES
Start Date and End Date must be valid dates expressed as YYYYMMDD (Error code(s): T50).
USAGE RULES
If there is no specific barrier window, Start Date should contain the trade date and End Date should contain the expiration date.
57. Field 29J: Location and Time for Start Date
FORMAT
Option J 4!c[/4!n] (Location) (Time)
PRESENCE
Optional in a conditional sequence (C15)
DEFINITION
This field specifies the location and time for the start date of the barrier window.
CODES
Location may contain one of the following codes:
Code Financial Center
ARBA Buenos Aires
ATVI Vienna
AUME Melbourne
AUSY Sydney
BEBR Brussels
BRSP São Paulo
CAMO Montreal
CATO Toronto
CHGE Geneva
CHZU Zurich
CLSA Santiago
CNBE Beijing
CZPR Prague
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Code Financial Center
DEFR Frankfurt
DKCO Copenhagen
EETA Tallinn
ESMA Madrid
FIHE Helsinki
FRPA Paris
GBLO London
GRAT Athens
HKHK Hong Kong
HUBU Budapest
IDJA Jakarta
IEDU Dublin
ILTA Tel Aviv
ITMI Milan
ITRO Rome
JPTO Tokyo
KRSE Seoul
LBBE Beirut
LULU Luxembourg
MYKL Kuala Lumpur
MXMC Mexico City
NLAM Amsterdam
NOOS Oslo
NYFD New York Fed
NYSE New York Stock Exchange
NZAU Auckland
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Code Financial Center
NZWE Wellington
PAPC Panama City
PHMA Manila
PLWA Warsaw
PTLI Lisbon
RUMO Moscow
SARI Riyadh
SEST Stockholm
SGSI Singapore
SKBR Bratislava
THBA Bangkok
TRAN Ankara
TWTA Taipei
USCH Chicago
USLA Los Angeles
USGS U.S. Governement Securities
USNY New York
ZAJO Johannesburg
NETWORK VALIDATED RULES
Time must be a valid time expressed as HHMM (Error code(s): T38).
USAGE RULES
The codes are based on the ISO country code and the English name of the location.
Additional location codes must be built as follows: the first 2 characters represent the ISO country code, the next two char-acters represent 1) if the location name is one word, the first two letters of the location 2) if the location name consists of atleast two words, the first letter of the first word followed by the first letter of the second word.
The default value is the expiration location as specified in subfield 1 of field 29E in sequence B and the start time of the deal.
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58. Field 29K: Location and Time for End Date
FORMAT
Option K 4!c/4!n (Location) (Time)
PRESENCE
Optional in a conditional sequence (C15)
DEFINITION
This field specifies the location and time for the end date of the barrier window.
CODES
Location may contain one of the following codes:
Code Financial Center
ARBA Buenos Aires
ATVI Vienna
AUME Melbourne
AUSY Sydney
BEBR Brussels
BRSP São Paulo
CAMO Montreal
CATO Toronto
CHGE Geneva
CHZU Zurich
CLSA Santiago
CNBE Beijing
CZPR Prague
DEFR Frankfurt
DKCO Copenhagen
EETA Tallinn
ESMA Madrid
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Code Financial Center
FIHE Helsinki
FRPA Paris
GBLO London
GRAT Athens
HKHK Hong Kong
HUBU Budapest
IDJA Jakarta
IEDU Dublin
ILTA Tel Aviv
ITMI Milan
ITRO Rome
JPTO Tokyo
KRSE Seoul
LBBE Beirut
LULU Luxembourg
MYKL Kuala Lumpur
MXMC Mexico City
NLAM Amsterdam
NOOS Oslo
NYFD New York Fed
NYSE New York Stock Exchange
NZAU Auckland
NZWE Wellington
PAPC Panama City
PHMA Manila
PLWA Warsaw
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Code Financial Center
PTLI Lisbon
RUMO Moscow
SARI Riyadh
SEST Stockholm
SGSI Singapore
SKBR Bratislava
THBA Bangkok
TRAN Ankara
TWTA Taipei
USCH Chicago
USLA Los Angeles
USGS U.S. Governement Securities
USNY New York
ZAJO Johannesburg
NETWORK VALIDATED RULES
Time must be a valid time expressed as HHMM (Error code(s): T38).
USAGE RULES
The codes are based on the ISO country code and the English name of the location.
Additional location codes must be built as follows: the first 2 characters represent the ISO country code, the next two char-acters represent 1) if the location name is one word, the first two letters of the location 2) if the location name consists of atleast two words, the first letter of the first word followed by the first letter of the second word.
The default value is the expiration location and time as specified in field 29E in sequence B.
59. Field 15G: New Sequence
FORMAT
Option G Empty field
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PRESENCE
Mandatory in a conditional sequence (C10)
DEFINITION
This field specifies the start of conditional sequence G Trigger Block.
USAGE RULES
Only the field tag must be present, the field is empty.
60. Field 22J: Type of Trigger
FORMAT
Option J 4!c (Type of Trigger)
PRESENCE
Mandatory in a conditional sequence (C10)
DEFINITION
This field specifies the type of trigger.
CODES
Type of Trigger must contain one of the following codes (Error code(s): T72):
DBTR Double trigger.
SITR Single trigger.
61. Field 37U: Trigger Level
FORMAT
Option U 12d (Rate)
PRESENCE
Mandatory in a conditional sequence (C10)
DEFINITION
This field specifies the trigger level. For double triggers, this field specifies the upper level.
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NETWORK VALIDATED RULES
The integer part of Rate must contain at least one digit. A decimal comma is mandatory and is included in the maximumlength (Error code(s): T40, T43).
62. Field 37P: Lower Trigger Level
FORMAT
Option P 12d (Rate)
PRESENCE
Conditional (C17) in a conditional sequence (C10)
DEFINITION
This field specifies the lower level of the trigger for double triggers.
NETWORK VALIDATED RULES
The integer part of Rate must contain at least one digit. A decimal comma is mandatory and is included in the maximumlength (Error code(s): T40, T43).
63. Field 32Q: Currency Pair
FORMAT
Option Q 3!a/3!a (Currency) (Currency)
PRESENCE
Mandatory in a conditional sequence (C10)
DEFINITION
This field specifies the currency pair of the option.
NETWORK VALIDATED RULES
Currency must be a valid ISO 4217 currency code (Error code(s): T52).
64. Field 15H: New Sequence
FORMAT
Option H Empty field
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PRESENCE
Mandatory in a conditional sequence (C18)
DEFINITION
This field specifies the start of conditional sequence H Non Deliverable Option Block.
USAGE RULES
Only the field tag must be present, the field is empty.
65. Field 14S: Settlement Rate Source
FORMAT
Option S 3!a2!n (Rate Source)
PRESENCE
Mandatory in a conditional sequence (C18)
DEFINITION
This field specifies the rate source for the settlement of the non-deliverable option.
USAGE RULES
The values to be used are published in Annex A of the 1998 FX and Currency Option Definitions published by ISDA,EMTA and the US FX Committee.
66. Field 32E: Settlement Currency
FORMAT
Option E 3!a (Currency)
PRESENCE
Mandatory in a conditional sequence (C18)
DEFINITION
This field specifies the settlement currency of the non-deliverable option.
NETWORK VALIDATED RULES
Currency must be a valid ISO 4217 currency code (Error code(s): T52).
67. Field 15I: New Sequence
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FORMAT
Option I Empty field
PRESENCE
Mandatory in a conditional sequence (C19)
DEFINITION
This field specifies the start of optional sequence I Additional Information.
USAGE RULES
Only the field tag must be present, the field is empty.
68. Field 29A: Contact Information
FORMAT
Option A 4*35x (Narrative)
PRESENCE
Optional in a conditional sequence (C19)
DEFINITION
This field specifies the name and/or telephone number of the person the Receiver may contact for any queries concerningthis transaction.
CODES
At least one of the following should be used:
/DEPT/ followed by the name of the department
/FAXT/ followed by fax number
/NAME/ followed by the name of the contact person
/PHON/ followed by the telephone number
/TELX/ followed by the telex number
USAGE RULES
The codes do not need to be put on separate lines. It is the ’/’ at the beginning of a code and not the end-of-line that marksthe end of the information behind the previous code.
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69. Field 24D: Dealing Method
FORMAT
Option D 4!c[/35x] (Code) (Additional Information)
PRESENCE
Optional in a conditional sequence (C19)
DEFINITION
This field specifies how the deal was agreed.
CODES
Code must contain one of the following, optionally followed with Additional Information (Error code(s): T68):
BROK Deal made via a money broker.
ELEC Deal made via an electronic system (Reuters, EBS etc.).
FAXT Deal agreed per fax.
PHON Deal agreed on the phone.
TELX Deal agreed by telex.
USAGE RULES
For voice brokers this field contains the code BROK. If the broker needs to be identified explicitly, field 88a must be used.
70. Field 88a: Broker Identification
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC/BEI)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
PRESENCE
Conditional (C19) in a conditional sequence (C19)
DEFINITION
This field identifies the broker who arranged the deal between party A and party B or, when two money brokers areinvolved, between party A and the other money broker.
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For matching purposes, option A must be used when available.
NETWORK VALIDATED RULES
The BIC/BEI must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
USAGE RULES
This field is only used to identify voice brokers. Electronic brokerage systems must be identified in field 24D Dealing Method.
71. Field 71F: Broker’s Commission
FORMAT
Option F 3!a15d (Currency) (Amount)
PRESENCE
Conditional (C19) in a conditional sequence (C19)
DEFINITION
This field specifies the brokerage fee for a broker confirmation.
NETWORK VALIDATED RULES
Currency must be a valid ISO 4217 currency code (Error code(s): T52)
The integer part of Amount must contain at least one digit. A decimal comma is mandatory and is included in the maximumlength. The number of digits following the comma must not exceed the maximum number allowed for the specifiedcurrency (Error code(s): C03, T40, T43).
72. Field 21G: Broker’s Reference
FORMAT
Option G 16x
PRESENCE
Optional in a conditional sequence (C19)
DEFINITION
This field specifies the broker’s reference of the trade.
NETWORK VALIDATED RULES
This field must not start or end with a slash ’/’ and must not contain two consecutive slashes ’//’ (Error code(s): T26).
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73. Field 72: Sender to Receiver Information
FORMAT
6*35x (Narrative - Structured Format)
The following line format must be used:
Line 1 /8c/[additional information] Lines 2-6 [//continuation of additional information]
-or-[/8c/[additional information]]
PRESENCE
Optional in a conditional sequence (C19)
DEFINITION
This field specifies additional information for the Receiver and applies to the whole messages.
USAGE RULES
Only bilaterally agreed codes can be used in this field.
Each code used must be put between slashes and appear at the beginning of a line.
All alphabetic characters in a code must be in upper case.
Additional explanatory information, which may be continued on the next lines, is preceded by a double slash ’//’. Narrativetext that is not qualified by a code must start with a double slash ’//’ on a new line, and should preferably be the last infor-mation in this field.
Field 72 must not be used for information for which another field is intended.
The use of this field with unstructured text may require manual intervention and thus cause delay in automated systems.
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MT 307 Advice/Instruction of a Third Party FX Deal
Note: The use of this message type requires Message User Group (MUG) registration.
MT 307 ScopeThis message is sent by a fund manager to a custodian bank as an advice of/instruction to settle a third party foreignexchange deal.
The definition of third party must be agreed up front between the fund manager and the custodian relative to deals executedby the custodians’ treasury area on behalf of the fund manager.
It is used to:
provide details about a new dealprovide a settlement notificationcancel a previously sent message.
MT 307 Format Specifications
MT 307 Advice/Instruction of a Third Party FX Deal
Status Tag Qualifier Generic Field Name
Detailed Field Name Content/Options No.
Mandatory Sequence A General Information
M 16R Start of Block GENL 1
----->
M 20C 4!c Reference (see qualifier description) :4!c//16x 2
-----|
M 23G Function of the Message 4!c[/4!c] 3
----->
M 22H 4!c Indicator (see qualifier description) :4!c//4!c 4
-----|
----->Repetitive Optional Subsequence A1 Linkages
M 16R Start of Block LINK 5
O 13A LINK Number Identifi-cation
Linked Transaction :4!c//3!c 6
M 20C 4!c Reference (see qualifier description) :4!c//16x 7
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Status Tag Qualifier Generic Field Name
Detailed Field Name Content/Options No.
M 16S End of Block LINK 8
-----| End of Subsequence A1 Linkages
M 16S End of Block GENL 9
End of Sequence A General Information
Mandatory Sequence B FX Details
M 16R Start of Block FXDET 10
----->
M 98A 4!c Date (see qualifier description) :4!c//8!n 11
-----|
M 92B EXCH Rate Exchange Rate :4!c//3!a/3!a/15d 12
Mandatory Sequence B1 FX Parties 1
M 16R Start of Block FXPRTY1 13
M 95a FXCO Party FX Counterparty P, Q or R 14
M 16S End of Block FXPRTY1 15
End of Subsequence B1 FX Parties 1
Mandatory Sequence B2 FX Parties 2
M 16R Start of Block FXPRTY2 16
O 95a INVE Party Investor P, Q or R 17
M 97A SAFE Account Safekeeping Account :4!c//35x 18
M 16S End of Block FXPRTY2 19
End of Subsequence B2 FX Parties 2
----->Repetitive Mandatory Subsequence B3 FX Settlement Details
M 16R Start of Block FXSETDET 20
M 19B 4!c Amount (see qualifier description) :4!c//3!a15d 21
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Status Tag Qualifier Generic Field Name
Detailed Field Name Content/Options No.
----->Repetitive Optional Subsequence B3a Cash Parties
M 16R Start of Block CSHPRTY 22
O 95a 4!c Party (see qualifier description) P, Q or R 23
O 97A CASH Account Cash Account :4!c//35x 24
O 70C PACO Narrative Party Contact Narrative :4!c//4*35x 25
M 16S End of Block CSHPRTY 26
-----| End of Subsequence B3a Cash Parties
M 16S End of Block FXSETDET 27
-----| End of Subsequence B3 FX Settlement Details
M 16S End of Block FXDET 28
End of Subsequence B FX Details
Optional Sequence C Accounting Information
M 16R Start of Block ACCOUNT 29
----->Repetitive Optional Subsequence C1 Linkages
M 16R Start of Block LINK 30
O 13A LINK Number Identifi-cation
Linked Transaction :4!c//3!c 31
M 20C PREV Reference Reference to Previous Deals
:4!c//16x 32
M 16S End of Block LINK 33
-----| End of Subsequence C1 Linkages
M 22H GALO Indicator Gain/Loss Indicator :4!c//4!c 34
M 19B GALO Amount Gain/Loss Currency and Amount
:4!c//3!a15d 35
M 16S End of Block ACCOUNT 36
End of Sequence C Accounting Information
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Status Tag Qualifier Generic Field Name
Detailed Field Name Content/Options No.
Optional Sequence D Net Amount to be Settled
M 16R Start of Block NET 37
M 22H GALO Indicator Gain/Loss Indicator :4!c//4!c 38
M 19B ANTO Amount Net Gain/Loss Amount :4!c//3!a15d 39
----->Repetitive Optional Subsequence D1 Cash Parties
M 16R Start of Block CSHPRTY 40
M 95a 4!c Party (see qualifier description) P, Q or R 41
O 97A CASH Account Cash Account :4!c//35x 42
O 70C PACO Narrative Party Contact Narrative :4!c//4*35x 43
M 16S End of Block CSHPRTY 44
-----| End of Subsequence D1 Cash Parties
M 16S End of Block NET 45
End of Sequence D Net amount to be Settled
M = Mandatory O = Optional
MT 307 Network Validated RulesC1
In sequence A, the presence of the Open Indicator (field :22H::APER) and the presence of the Net Settlement Indicator(field :22H::NEGR) depend on the Contract Type (field :22H::CRTR) as follows (Error code(s): C60):
Sequence Aif field :22H::CRTR Indicator
is ...
Sequence Athen field :22H::APER is ...
Sequence Aand field :22H::NEGR is ...
ASET Not allowed Optional
AFWD Mandatory Mandatory
C2
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In sequence A, the presence of the Close Indicator (field :22H::PAFI) depends on the Open Indicator (field:22H::APER) as follows (Error code(s): C61):
Sequence Aif field :22H::APER Indicator is ...
Sequence Athen field :22H::PAFI is ...
OPEF Not allowed
NOPE Mandatory
Field :22H::APER not present Not allowed
C3
The presence of sequence C depends on the Open Indicator (field :22H::APER) as follows (Error code(s): C62):
Sequence Aif field :22H::APER Indicator is ...
then Sequence C is ...
OPEF Not allowed
NOPE Mandatory
Field :22H::APER not present Not allowed
C4
In sequence A, the presence of the qualifier UNKN in the Net Settlement Indicator (field :22H::NEGR//UNKN)depends on the content of the Contract Type (field :22H::CRTR), of the Open Indicator (field :22H::APER) and of theClose Indicator (field :22H::PAFI) as follows (Error code(s): C63):
Sequence Aif field :22H: is ...
Sequence Athen field :22H::NEGR//UNKN is ...
CRTR//ASET Not allowed
CRTR//AFWD and APER//OPEF Optional
CRTR//AFWD and APER//NOPE and PAFI//PAIN Optional
CRTR//AFWD and APER//NOPE and PAFI//FINA Not allowed
C5
The presence of sequence D depends on the value of field 22H Indicator as follows (Error code(s): C64):
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In Sequence A then SequenceD is...
if field:22H::CRTR
is...
and field:22H::APER is...
and field:22H::PAFI is...
and field:22H::NEGR is...
ASET Not applicable by C1 Not applicable by C2 NETC Optional
ASET Not applicable by C1 Not applicable by C2 GRSC Not allowed
ASET Not applicable by C1 Not applicable by C2 Not present Not allowed
AFWD OPEF Not applicable by C2 NETC or GRSC or UNKN
Not allowed
AFWD NOPE PAIN NETC or GRSC or UNKN
Not allowed
AFWD NOPE FINA NETC Mandatory
AFWD NOPE FINA GRSC Not allowed
C6
The following fields cannot appear more than once in the message (Error code(s): E83):
Subsequence B3 Subsequence D1
:19B::BUYE :95a::CDEA
:19B::SELL :95a::INTE
:95a::ACCW
:95a::BENM
C7
Repetitive subsequence B3 FX Settlement Details must be present exactly twice in the message (Error code(s): E90).
C8
In each occurrence of sequence B3, the presence of the repetitive subsequence B3a Cash Parties depends on the contentof the Net Settlement Indicator (:22H::NEGR), as follows (Error code(s): E91):
Subsequence AIf field :22H::NEGR Indicator is...
then, in each occurrence of sequence B3subsequence B3a Cash Parties is...
GRSC Mandatory
NETC or UNKN Not allowed
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Subsequence AIf field :22H::NEGR Indicator is...
then, in each occurrence of sequence B3subsequence B3a Cash Parties is...
Field :22H::NEGR Not present Mandatory
C9
Taking into account C8: in each occurrence of Seq. B3, the presence of the different parties (field 95a) in SequenceB3a depends on the content of field 19B in sequence B3 as follows (Error code(s): E92):
In each occur-rence of
Sequence B3,if field :19B::
is...
And if Subsequence B3a is present(i.e. is Mandatory per C8)
then...
In one occurrence ofSubseq. B3a
field...
And in all other optional occurrence(s) of B3afield...
BUYE 95a::CDEA is Mandatory 95a::INTE is Optional
95a::ACCW is Optional
95a::BENM isNot allowed
SELL 95a::ACCW is Mandatory 95a::INTE is Optional
95a::CDEA isOptional
95a::BENM is Optional
C10
In each occurrence of sequence B3, the following party fields cannot appear more than once (Error code(s): E84):
Subsequence B3a
:95a::CDEA
:95a::INTE
:95a::ACCW
:95a::BENM
MT 307 Field Specifications
1. Field 16R: Start of Block
FORMAT
Option R 16c
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PRESENCE
Mandatory
DEFINITION
This field specifies the start of a block and the name of that block.
CODES
This field must contain the following code (Error code(s): T92):
GENL General Information.
2. Field 20C: Reference
FORMAT
Option C :4!c//16x (Qualifier) (Reference)
PRESENCE
Mandatory
QUALIFIER
(Error code(s): T89)
Order M/O Qualifier R/N CR Options Qualifier Description
1 M SEME N C Sender’s Reference
2 O FXCR N C FX Common Reference
DEFINITION
This qualified generic field specifies:
FXCR This field contains the common reference of the MT 300 exchanged between the fund manager andthe FX broker to confirm the FX trade.
SEME Reference assigned by the Sender to unambiguously identify the message.
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NETWORK VALIDATED RULES
Reference must not start or end with a slash ’/’ and not contain two consecutive slashes ’//’ (Error code(s): T26).
USAGE RULES
With qualifier FXCR, the Reference subfield must follow the following structure:
Reference 4!a2!c4!n4!a2!c (Bank Code 1) (Location Code 1) (Reference Code) (BankCode 2) (Location Code 2)
The bank and location codes (from the ISO Bank Identifier Code) are those of the Sender and the Receiver of the MT 300exchanged between the fund manager and the FX broker to confirm the FX trade. These codes must appear in alphabeticalorder (letters take precedence over numbers).
Location Code 1 and Bank Code 2 are separated by four digits, which must consist of the rightmost non-zero digit of field36 in sequence B (of the related MT 300), preceded by the three digits to the left of it. If there are no digits to the left of it,the space must be zero filled.
3. Field 23G: Function of the Message
FORMAT
Option G 4!c[/4!c] (Function) (Sub-function)
PRESENCE
Mandatory
DEFINITION
This field identifies the function of the message.
CODES
Function must contain one of the following codes (Error code(s): T86):
CANC This is a request to cancel a previously sent instruction.
NEWM This is a new advice/instruction.
CODES
Sub-function, when present, must contain one of the following codes:
CODU This message is being sent as a copy, for information purposes and the message is a duplicate of amessage previously sent.
COPY The message is being sent as a copy, for information purposes.
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DUPL The message is for information/confirmation purposes. It is a duplicate of a message previously sent.
USAGE RULES
To cancel a previously sent instruction, Function is CANC. The reference in the linkage sequence must contain the Sender’s reference of the message to be cancelled. A copy of at least the mandatory fields of the message to be cancelled must bepresent; optional fields need not be present for SWIFT validation.
4. Field 22H: Indicator
FORMAT
Option H :4!c//4!c (Qualifier) (Indicator)
PRESENCE
Mandatory
QUALIFIER
(Error code(s): T89)
Order M/O Qualifier R/N CR Options Qualifier Description
1 M CRTR N H Contract Type Indicator
2 O APER N C1 H Open Indicator
3 O PAFI N C2 H Close Indicator
4 O NEGR N C1, C4 H Net Settlement Indicator
DEFINITION
This qualified generic field specifies:
APER Whether the instruction is for the opening or the closing of a forward currency contract.
CRTR The type of foreign exchange contract.
NEGR Whether the total amount is settled net or gross.
PAFI Whether the instruction is for the final close or the partial close of a forward currency contract.
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CODES
When Qualifier is CRTR, Indicator must contain one of the following codes (Error code(s): T19):
AFWD Forward Foreign Exchange. The FX is a forward/hedge executed for a future date at a set price. Thecontract is opened and closed for the same value date resulting in a gain or loss. The result can besettled by netting the local base or both currencies, or by settling the gross/principal amount.
ASET Settlement contract. The FX is a physical settlement in which both the buy and sell currencies willmove on the settlement (value) day.
CODES
When Qualifier is APER, Indicator must contain one of the following codes (Error code(s): T19):
NOPE The instruction is for the partial or final closing of a forward currency contract.
OPEF The instruction is for the opening of a forward currency contract.
CODES
When Qualifier is PAFI, Indicator must contain one of the following codes (Error code(s): T19):
FINA Final settlement. This is the final close of a forward currency contract.
PAIN Partial settlement. This is the partial close of a forward currency contract.
CODES
When Qualifier is NEGR, Indicator must contain one of the following codes (Error code(s): T19):
GRSC The contract will be settled gross.
NETC The contract will be settled net.
UNKN It is unknown whether the contract will be settled net or gross.
5. Field 16R: Start of Block
FORMAT
Option R 16c
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PRESENCE
Mandatory in an optional sequence
DEFINITION
This field specifies the start of a block and the name of that block.
CODES
This field must contain the following code (Error code(s): T92):
LINK Linkages.
6. Field 13A: Number Identification: Linked Transaction
FORMAT
Option A :4!c//3!c (Qualifier) (Number Id)
PRESENCE
Optional
QUALIFIER
(Error code(s): T89)
Order M/O Qualifier R/N CR Options Qualifier Description
1 O LINK N A Linked Transaction
DEFINITION
This qualified generic field specifies:
LINK Type of transaction which is linked to this transaction.
USAGE RULES
Number ID must contain the MT number of the linked transaction.
7. Field 20C: Reference
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FORMAT
Option C :4!c//16x (Qualifier) (Reference)
PRESENCE
Mandatory in an optional sequence
QUALIFIER
(Error code(s): T89)
Order M/O Qualifier R/N CR Options Qualifier Description
1 M RELA N C Related Reference
or PREV N C Previous Reference
DEFINITION
This qualified generic field specifies:
PREV Reference of the linked message which was previously sent.
RELA Reference of the linked message which was previously received.
NETWORK VALIDATED RULES
Reference must not start or end with a slash ’/’ and not contain two consecutive slashes ’//’ (Error code(s): T26).
8. Field 16S: End of Block
FORMAT
Option S 16c
PRESENCE
Mandatory in an optional sequence
DEFINITION
This field specifies the end of a block and the name of that block.
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CODES
This field must contain the following code (Error code(s): T92):
LINK Linkages.
9. Field 16S: End of Block
FORMAT
Option S 16c
PRESENCE
Mandatory
DEFINITION
This field specifies the end of a block and the name of that block.
CODES
This field must contain the following code (Error code(s): T92):
GENL General Information.
10. Field 16R: Start of Block
FORMAT
Option R 16c
PRESENCE
Mandatory
DEFINITION
This field specifies the start of a block and the name of that block.
CODES
This field must contain the following code (Error code(s): T92):
FXDET FX Details.
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11. Field 98A: Date
FORMAT
Option A :4!c//8!n (Qualifier) (Date)
PRESENCE
Mandatory
QUALIFIER
(Error code(s): T89)
Order M/O Qualifier R/N CR Options Qualifier Description
1 M TRAD N A Trade Date
2 M VALU N A Value Date
DEFINITION
This qualified generic field specifies:
TRAD Date on which the transaction was agreed between the fund manager and the executing broker.
VALU Value date of the transaction.
NETWORK VALIDATED RULES
Date must be a valid date expressed as YYYYMMDD (Error code(s): T50).
12. Field 92B: Rate: Exchange Rate
FORMAT
Option B :4!c//3!a/3!a/15d (Qualifier) (First Currency Code) (Second Currency Code) (Rate)
PRESENCE
Mandatory
QUALIFIER
(Error code(s): T89)
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Order M/O Qualifier R/N CR Options Qualifier Description
1 M EXCH N B Exchange Rate
DEFINITION
This qualified generic field specifies:
EXCH The agreed factor of conversion used for the transaction. It is the rate as the deal was struck.
NETWORK VALIDATED RULES
First Currency Code and Second Currency Code must be valid ISO 4217 currency codes (Error code(s): T52).
The integer part of Rate must contain at least one digit. A decimal comma is mandatory and is included in the maximumlength (Error code(s): T40, T43).
USAGE RULES
The order of the two currencies specified here is independent of the currencies in the amount fields. Therefore the exchangerate can be expressed as a reciprocal if required.
13. Field 16R: Start of Block
FORMAT
Option R 16c
PRESENCE
Mandatory
DEFINITION
This field specifies the start of a block and the name of that block.
CODES
This field must contain the following code (Error code(s): T92):
FXPRTY1 FX Parties 1.
14. Field 95a: Party: FX Counterparty
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FORMAT
Option P :4!c//4!a2!a2!c[3!c] (Qualifier) (BIC/BEI)Option Q :4!c//4*35x (Qualifier) (Name & Address)Option R :4!c/8c/34x (Qualifier) (Data Source Scheme) (Proprietary Code)
PRESENCE
Mandatory
QUALIFIER
(Error code(s): T89)
Order M/O Qualifier R/N CR Options Qualifier Description
1 M FXCO N C6 P, R or Q FX Counterparty
DEFINITION
This qualified generic field specifies:
FXCO The Counterparty for the FX deal.
BIC specifies the Bank Identifier Code. BEI specifies the Business Entity Identifier.
Proprietary Code specifies a local national code or market segment code identifying the party.
NETWORK VALIDATED RULES
The BIC/BEI must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
15. Field 16S: End of Block
FORMAT
Option S 16c
PRESENCE
Mandatory
DEFINITION
This field specifies the end of a block and the name of that block.
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CODES
This field must contain the following code (Error code(s): T92):
FXPRTY1 FX Parties 1.
16. Field 16R: Start of Block
FORMAT
Option R 16c
PRESENCE
Mandatory
DEFINITION
This field specifies the start of a block and the name of that block.
CODES
This field must contain the following code (Error code(s): T92):
FXPRTY2 FX Parties 2.
17. Field 95a: Party: Investor
FORMAT
Option P :4!c//4!a2!a2!c[3!c] (Qualifier) (BIC/BEI)Option Q :4!c//4*35x (Qualifier) (Name & Address)Option R :4!c/8c/34x (Qualifier) (Data Source Scheme) (Proprietary Code)
PRESENCE
Optional
QUALIFIER
(Error code(s): T89)
Order M/O Qualifier R/N CR Options Qualifier Description
1 O INVE N P, R or Q Investor
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DEFINITION
This qualified generic field specifies:
INVE The fund, ie, the client for which the transaction was executed.
BIC specifies the Bank Identifier Code. BEI specifies the Business Entity Identifier.
Proprietary Code specifies a local national code or market segment code identifying the party.
NETWORK VALIDATED RULES
The BIC/BEI must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
18. Field 97A: Account: Safekeeping Account
FORMAT
Option A :4!c//35x (Qualifier) (Account Number)
PRESENCE
Mandatory
QUALIFIER
(Error code(s): T89)
Order M/O Qualifier R/N CR Options Qualifier Description
1 M SAFE N A Safekeeping Account
DEFINITION
This qualified generic field specifies:
SAFE Safekeeping account.
USAGE RULES
This field contains the safekeeping account that the fund keeps with the custodian.
19. Field 16S: End of Block
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FORMAT
Option S 16c
PRESENCE
Mandatory
DEFINITION
This field specifies the end of a block and the name of that block.
CODES
This field must contain the following code (Error code(s): T92):
FXPRTY2 FX Parties 2.
20. Field 16R: Start of Block
FORMAT
Option R 16c
PRESENCE
Mandatory in a conditional (C7) sequence
DEFINITION
This field specifies the start of a block and the name of that block.
CODES
This field must contain the following code (Error code(s): T92):
FXSETDET FX Settlement Details.
21. Field 19B: Amount
FORMAT
Option B :4!c//3!a15d (Qualifier) (Currency Code) (Amount)
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PRESENCE
Mandatory in a conditional (C7) sequence
QUALIFIER
(Error code(s): T89)
Order M/O Qualifier R/N CR Options Qualifier Description
1 M BUYE N C6 B Buy Currency and Amount
or SELL N C6 B Sell Currency and Amount
DEFINITION
This qualified generic field specifies:
BUYE Buy Currency and Amount
SELL Sell Currency and Amount
NETWORK VALIDATED RULES
The integer part of Amount must contain at least one digit. A decimal comma is mandatory and is included in the maximumlength. The number of digits following the comma must not exceed the maximum allowed for the specified currency (Errorcode(s): C03, T40, T43).
Currency Code must be a valid ISO 4217 currency code (Error code(s): T52).
22. Field 16R: Start of Block
FORMAT
Option R 16c
PRESENCE
Mandatory in a conditional (C7, C8) sequence
DEFINITION
This field specifies the start of a block and the name of that block.
CODES
This field must contain the following code (Error code(s): T92):
CSHPRTY Cash Parties.
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23. Field 95a: Party
FORMAT
Option P :4!c//4!a2!a2!c[3!c] (Qualifier) (BIC/BEI)Option Q :4!c//4*35x (Qualifier) (Name & Address)Option R :4!c/8c/34x (Qualifier) (Data Source Scheme) (Proprietary Code)
PRESENCE
Conditional (C9, C10) in a conditional (C7, C8) sequence
QUALIFIER
(Error code(s): T89)
Order M/O Qualifier R/N CR Options Qualifier Description
1 O CDEA N C9, C10 P, Q or R Cash Delivery Agent
or INTE N C9, C10 P, Q or R Intermediary
or ACCW N C9, C10 P, Q or R Account With Institution
or BENM N C9, C10 P, Q or R Beneficiary of Money
DEFINITION
The qualifiers are listed in the general order of occurrence. This qualified generic field specifies:
CDEA Cash Delivery Agent
The financial institution from which the payer will transfer the amount sold/bought.
INTE Intermediary The intermediary institution for the transfer of the funds.
ACCW Account With Institution
The institution to which the payment is to be made in favour of the beneficiary ofmoney.
BENM Beneficiary of Money
The institution in favour of which the payment is done.
BIC specifies the Bank Identifier Code. BEI specifies the Business Entity Identifier.
Proprietary Code specifies a local national code or market segment code identifying the party.
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NETWORK VALIDATED RULES
Country Code must contain a valid ISO country code (Error code(s): T73).
The BIC/BEI must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
If Qualifier is CDEA, INTE or ACCW, the BIC must not be a BEI, must not be of type BEID, MCCO, TESP or TRCO(Error code(s): C05).
24. Field 97A: Account: Cash Account
FORMAT
Option A :4!c//35x (Qualifier) (Account Number)
PRESENCE
Optional in a conditional (C7, C8) sequence
QUALIFIER
(Error code(s): T89)
Order M/O Qualifier R/N CR Options Qualifier Description
1 O CASH N A Cash Account
DEFINITION
This qualified generic field specifies:
CASH Cash Account Account from/to which a payment is to be made and which is owned by the party specified in the field immediately preceding.
25. Field 70C: Narrative: Party Contact Narrative
FORMAT
Option C :4!c//4*35x (Qualifier) (Narrative)
PRESENCE
Optional in a conditional (C7, C8) sequence
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QUALIFIER
(Error code(s): T89)
Order M/O Qualifier R/N CR Options Qualifier Description
1 O PACO N C Party Contact Narrative
DEFINITION
This qualified generic field specifies:
PACO Party Contact Narrative
Narrative description of the contact unit or person responsible for the transaction atthe party defined within the party block.
26. Field 16S: End of Block
FORMAT
Option S 16c
PRESENCE
Mandatory in a conditional (C7, C8) sequence
DEFINITION
This field specifies the end of a block and the name of that block.
CODES
This field must contain the following code (Error code(s): T92):
CSHPRTY Cash Parties.
27. Field 16S: End of Block
FORMAT
Option S 16c
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PRESENCE
Mandatory in a conditional (C7) sequence
DEFINITION
This field specifies the end of a block and the name of that block.
CODES
This field must contain the following code (Error code(s): T92):
FXSETDET FX Settlement Details.
28. Field 16S: End of Block
FORMAT
Option S 16c
PRESENCE
Mandatory
DEFINITION
This field specifies the end of a block and the name of that block.
CODES
This field must contain the following code (Error code(s): T92):
FXDET FX Details.
29. Field 16R: Start of Block
FORMAT
Option R 16c
PRESENCE
Mandatory in a conditional (C3) sequence
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DEFINITION
This field specifies the start of a block and the name of that block.
CODES
This field must contain the following code (Error code(s): T92):
ACCOUNT Accounting Information.
30. Field 16R: Start of Block
FORMAT
Option R 16c
PRESENCE
Mandatory in an optional sequence
DEFINITION
This field specifies the start of a block and the name of that block.
CODES
This field must contain the following code (Error code(s): T92):
LINK Linkages.
31. Field 13A: Number Identification: Linked Transaction
FORMAT
Option A :4!c//3!c (Qualifier) (Number Id)
PRESENCE
Optional
QUALIFIER
(Error code(s): T89)
Order M/O Qualifier R/N CR Options Qualifier Description
1 O LINK N A Linked Transaction
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DEFINITION
This qualified generic field specifies:
LINK Type of transaction which is linked to this transaction.
USAGE RULES
Number ID must contain the MT number of the linked transaction.
32. Field 20C: Reference: Reference to Previous Deals
FORMAT
Option C :4!c//16x (Qualifier) (Reference)
PRESENCE
Mandatory in an optional sequence
QUALIFIER
(Error code(s): T89)
Order M/O Qualifier R/N CR Options Qualifier Description
1 M PREV N C Previous Reference
DEFINITION
This qualified generic field specifies:
PREV This field specifies the reference of the deals closed by this message, ie, it contains the reference ofthe original transactions (Open(s), Partial Close(s)) leading to this instruction.
NETWORK VALIDATED RULES
Reference must not start or end with a slash ’/’ and not contain two consecutive slashes ’//’ (Error code(s): T26).
33. Field 16S: End of Block
FORMAT
Option S 16c
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PRESENCE
Mandatory in an optional sequence
DEFINITION
This field specifies the end of a block and the name of that block.
CODES
This field must contain the following code (Error code(s): T92):
LINK Linkages.
34. Field 22H: Indicator: Gain/Loss Indicator
FORMAT
Option H :4!c//4!c (Qualifier) (Indicator)
PRESENCE
Mandatory in a conditional (C3) sequence
QUALIFIER
(Error code(s): T89)
Order M/O Qualifier R/N CR Options Qualifier Description
1 M GALO N H Gain/Loss Indicator
DEFINITION
This qualified generic field specifies:
GALO This field specifies whether the close represents a gain or a loss.
CODES
When Qualifier is GALO, Indicator must contain one of the following codes:
GAIN Gain/amount received.
LOSS Loss/amount paid.
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35. Field 19B: Amount: Gain/Loss Currency and Amount
FORMAT
Option B :4!c//3!a15d (Qualifier) (Currency Code) (Amount)
PRESENCE
Mandatory in a conditional (C3) sequence
QUALIFIER
(Error code(s): T89)
Order M/O Qualifier R/N CR Options Qualifier Description
1 M GALO N B Gain/Loss Currency and Amount
DEFINITION
This qualified generic field specifies:
GALO Gain/LossCurrency and Amount
The gain or loss currency and amount at a partial or final close.
NETWORK VALIDATED RULES
The integer part of Amount must contain at least one digit. The decimal comma is mandatory and is included in themaximum length. The number of digits following the comma must not exceed the maximum allowed for the specifiedcurrency (Error code(s): C03, T40, T43).
Currency Code must be a valid ISO 4217 currency code (Error code(s): T52).
36. Field 16S: End of Block
FORMAT
Option S 16c
PRESENCE
Mandatory in a conditional (C3) sequence
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DEFINITION
This field specifies the end of a block and the name of that block.
CODES
This field must contain the following code (Error code(s): T92):
ACCOUNT Accounting Information.
37. Field 16R: Start of Block
FORMAT
Option R 16c
PRESENCE
Mandatory in a conditional (C5) sequence
DEFINITION
This field specifies the start of a block and the name of that block.
CODES
This field must contain the following code (Error code(s): T92):
NET Net Amount to be Settled.
38. Field 22H: Indicator: Gain/Loss Indicator
FORMAT
Option H :4!c//4!c (Qualifier) (Indicator)
PRESENCE
Mandatory in a conditional (C5) sequence
QUALIFIER
(Error code(s): T89)
Order M/O Qualifier R/N CR Options Qualifier Description
1 M GALO N H Gain/Loss Indicator
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DEFINITION
This qualified generic field specifies:
GALO This field specifies whether the net amount represents a gain or a loss.
CODES
When Qualifier is GALO, Indicator must contain one of the following codes:
GAIN Gain/amount received.
LOSS Loss/amount paid.
39. Field 19B: Amount: Net Gain/Loss Amount
FORMAT
Option B :4!c//3!a15d (Qualifier) (Currency Code) (Amount)
PRESENCE
Mandatory in a conditional (C5) sequence
QUALIFIER
(Error code(s): T89)
Order M/O Qualifier R/N CR Options Qualifier Description
1 M ANTO N B Net Gain/Loss Amount
DEFINITION
This qualified generic field specifies:
ANTO Net Gain/Loss Amount
The net gain/loss amount which is paid/received.
NETWORK VALIDATED RULES
The integer part of Amount must contain at least one digit. The decimal comma is mandatory and is included in themaximum length. The number of digits following the comma must not exceed the maximum allowed for the specifiedcurrency (Error code(s): C03, T40, T43).
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Currency Code must be a valid ISO 4217 currency code (Error code(s): T52).
40. Field 16R: Start of Block
FORMAT
Option R 16c
PRESENCE
Mandatory in a conditional (C5) sequence
DEFINITION
This field specifies the start of a block and the name of that block.
CODES
This field must contain the following code (Error code(s): T92):
CSHPRTY Cash Parties.
41. Field 95a: Party
FORMAT
Option P :4!c//4!a2!a2!c[3!c] (Qualifier) (BIC/BEI)Option Q :4!c//4*35x (Qualifier) (Name & Address)Option R :4!c/8c/34x (Qualifier) (Data Source Scheme) (Proprietary Code)
PRESENCE
Mandatory in a conditional (C5) sequence
QUALIFIER
(Error code(s): T89)
Order M/O Qualifier R/N CR Options Qualifier Description
1 M CDEA N C6 P, Q, R Cash Delivery Agent
or INTE N C6 P, Q, R Intermediary
or ACCW N C6 P, Q, R Account With Institution
or BENM N C6 P, Q, R Beneficiary of Money
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DEFINITION
The qualifiers are listed in the general order of occurrence. This qualified generic field specifies:
CDEA Cash Delivery Agent
The financial institution from which the payer will transfer the amount sold/bought.
INTE Intermediary The intermediary institution for the transfer of the funds.
ACCW Account With Institution
The institution to which the payment is to be made in favour of the beneficiary ofmoney.
BENM Beneficiary of Money
The institution in favour of which the payment is done.
BIC specifies the Bank Identifier Code. BEI specifies the Business Entity Identifier.
Proprietary Code specifies a local national code or market segment code identifying the party.
NETWORK VALIDATED RULES
Country Code must contain a valid ISO country code (Error code(s): T73).
The BIC/BEI must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
If Qualifier is CDEA, INTE or ACCW, the BIC must not be a BEI, must not be of type BEID, MCCO, TESP or TRCO(Error code(s): C05).
42. Field 97A: Account: Cash Account
FORMAT
Option A :4!c//35x (Qualifier) (Account Number)
PRESENCE
Optional in a conditional (C5) sequence
QUALIFIER
(Error code(s): T89)
Order M/O Qualifier R/N CR Options Qualifier Description
1 O CASH N A Cash Account
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DEFINITION
This qualified generic field specifies:
CASH Cash Account Account from/to which a payment is to be made and which is held by the party spec-ified in this sequence.
43. Field 70C: Narrative: Party Contact Narrative
FORMAT
Option C :4!c//4*35x (Qualifier) (Narrative)
PRESENCE
Optional in a conditional (C5) sequence
QUALIFIER
(Error code(s): T89)
Order M/O Qualifier R/N CR Options Qualifier Description
1 O PACO N C Party Contact Narrative
DEFINITION
This qualified generic field specifies:
PACO Party Contact Narrative
Narrative description of the contact unit or person responsible for the transaction atthe party defined within the party block.
44. Field 16S: End of Block
FORMAT
Option S 16c
PRESENCE
Mandatory in a conditional (C5) sequence
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DEFINITION
This field specifies the end of a block and the name of that block.
CODES
This field must contain the following code (Error code(s): T92):
CSHPRTY Cash Parties.
45. Field 16S: End of Block
FORMAT
Option S 16c
PRESENCE
Mandatory in a conditional (C5) sequence
DEFINITION
This field specifies the end of a block and the name of that block.
CODES
This field must contain the following code (Error code(s): T92):
NET Net Amount to be Settled.
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MT 308 Instruction for Gross/Net Settlement of Third Party FX Deals
Note: The use of this message type requires Message User Group (MUG) registration.
MT 308 ScopeThis message is sent by the fund manager to the custodian just before value date, to inform which deals done on behalf of athird party are to be settled gross and which ones netted.
The definition of third party must be agreed up front between the fund manager and the custodian relative to deals executedby the custodians’ treasury area on behalf of the fund manager.
It is also used to cancel a previously sent message.
MT 308 Format Specifications
MT 308 Instruction for Gross/Net Settlement of Third Party FX Deals
Status Tag Qualifier Generic Field Name
Detailed Field Name Content/Options No.
Mandatory Sequence A General Information
M 16R Start of Block GENL 1
M 20C SEME Reference Sender’s Reference :4!c//16x 2
M 23G Function of the Message 4!c[/4!c] 3
----->Repetitive Optional Subsequence A1 Linkages
M 16R Start of Block LINK 4
O 13A LINK Number Identifi-cation
Linked Transaction :4!c//3!c 5
M 20C 4!c Reference (see qualifier description) :4!c//16x 6
M 16S End of Block LINK 7
-----| End of Subsequence A1 Linkages
M 16S End of Block GENL 8
End of Sequence A General Information
----->Repetitive Mandatory Sequence B FX Details
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Status Tag Qualifier Generic Field Name
Detailed Field Name Content/Options No.
M 16R Start of Block FXDET 9
M 98A VALU Date Value Date :4!c//8!n 10
Mandatory Sequence B1 FX Parties 1
M 16R Start of Block FXPRTY1 11
M 95a FXCO Party FX Counterparty P, Q or R 12
M 16S End of Block FXPRTY1 13
End of Subsequence B1 FX Parties 1
Mandatory Sequence B2 FX Parties 2
M 16R Start of Block FXPRTY2 14
O 95a INVE Party Investor P, Q or R 15
M 97A SAFE Account Safekeeping Account :4!c//35x 16
M 16S End of Block FXPRTY2 17
End of Subsequence B2 FX Parties 2
Optional Subsequence B3 Gross Settlement
M 16R Start of Block GROSS 18
----->Repetitive Mandatory Subsequence B3a Linkages
M 16R Start of Block LINK 19
O 13A LINK Number Identifi-cation
Linked Transaction :4!c//3!c 20
M 20C PREV Reference Previous Reference :4!c//16x 21
M 16S End of Block LINK 22
-----| End of Subsequence B3a Linkages
M 16S End of Block GROSS 23
End of Subsequence B3 Gross Settlement
----->Repetitive Optional Subsequence B4 Net Settlement
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Status Tag Qualifier Generic Field Name
Detailed Field Name Content/Options No.
M 16R Start of Block NET 24
----->Repetitive Mandatory Subsequence B4a Linkages
M 16R Start of Block LINK 25
O 13A LINK Number Identifi-cation
Linked Transaction :4!c//3!c 26
M 20C PREV Reference Previous Reference :4!c//16x 27
M 16S End of Block LINK 28
-----| End of Subsequence B4a Linkages
M O 22H GALO Indicator Gain/Loss Indicator :4!c//4!c 29
M 19B ANTO Amount Net Gain/Loss Amount :4!c//3!a15d 30
----->Repetitive Optional Subsequence B4b Settlement Parties
M 16R Start of Block SETPRTY 31
M 95a 4!c Party (see qualifier description) P, Q or R 32
O 97A CASH Account Cash Account :4!c//35x 33
O 70C PACO Narrative Party Contact Narrative :4!c//4*35x 34
M 16S End of Block SETPRTY 35
-----| End of Subsequence B4b Settlement Parties
M 16S End of Block NET 36
-----| End of Subsequence B4 Net Settlement
M 16S End of Block FXDET 37
-----| End of Sequence B FX Details
M = Mandatory O = Optional
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MT 308 Network Validated RulesC1
In each occurrence of sequence B, either sequence B3 Gross Settlement or sequence B4 Net Settlement must bepresent, but not both (Error code(s): C34):
C2
In each occurrence of sequence B4, the following fields cannot appear more than once (Error code(s): E84):
Subsequence B4b
:95a::CDEA
:95a::INTE
:95a::ACCW
:95a::BENM
MT 308 Field Specifications
1. Field 16R: Start of Block
FORMAT
Option R 16c
PRESENCE
Mandatory
DEFINITION
This field specifies the start of a block and the name of that block.
CODES
This field must contain the following code (Error code(s): T92):
GENL General Information.
2. Field 20C: Reference: Sender’s Reference
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FORMAT
Option C :4!c//16x (Qualifier) (Reference)
PRESENCE
Mandatory
QUALIFIER
(Error code(s): T89)
Order M/O Qualifier R/N CR Options Qualifier Description
1 M SEME N C Sender’s Reference
DEFINITION
This qualified generic field specifies:
SEME Reference assigned by the Sender to unambiguously identify the message.
NETWORK VALIDATED RULES
Reference must not start or end with a slash ’/’ and not contain two consecutive slashes ’//’ (Error code(s): T26).
3. Field 23G: Function of the Message
FORMAT
Option G 4!c[/4!c] (Function) (Sub-function)
PRESENCE
Mandatory
DEFINITION
This field identifies the function of the message.
CODES
Function must contain one of the following codes (Error code(s): T86):
CANC This is a request to cancel a previously sent instruction to settle third party FX deals.
NEWM This is a new instruction to settle third party FX deals.
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CODES
Sub-function, when present, must contain one of the following codes:
CODU This message is being sent as a copy, for information purposes and the message is a duplicate of amessage previously sent.
COPY The message is being sent as a copy, for information purposes.
DUPL The message is for information/confirmation purposes. It is a duplicate of a message previously sent.
USAGE RULES
To cancel a previously sent order to buy or sell, Function is CANC. The reference in the linkage sequence must contain theSender’s reference of the message to be cancelled. A copy of at least the mandatory fields of the message to be cancelledmust be present; optional fields need not be present for SWIFT validation.
4. Field 16R: Start of Block
FORMAT
Option R 16c
PRESENCE
Mandatory in an optional sequence
DEFINITION
This field specifies the start of a block and the name of that block.
CODES
This field must contain the following code (Error code(s): T92):
LINK Linkages.
5. Field 13A: Number Identification: Linked Transaction
FORMAT
Option A :4!c//3!c (Qualifier) (Number Id)
PRESENCE
Optional
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QUALIFIER
(Error code(s): T89)
Order M/O Qualifier R/N CR Options Qualifier Description
1 O LINK N A Linked Transaction
DEFINITION
This qualified generic field specifies:
LINK Type of transaction which is linked to this transaction.
USAGE RULES
Number ID must contain the MT number of the linked transaction.
6. Field 20C: Reference
FORMAT
Option C :4!c//16x (Qualifier) (Reference)
PRESENCE
Mandatory in an optional sequence
QUALIFIER
(Error code(s): T89)
Order M/O Qualifier R/N CR Options Qualifier Description
1 M RELA N C Related Reference
or PREV N C Previous Reference
DEFINITION
This qualified generic field specifies:
PREV Reference of the linked message which was previously sent.
RELA Reference of the linked message which was previously received.
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NETWORK VALIDATED RULES
Reference must not start or end with a slash ’/’ and not contain two consecutive slashes ’//’ (Error code(s): T26).
7. Field 16S: End of Block
FORMAT
Option S 16c
PRESENCE
Mandatory in an optional sequence
DEFINITION
This field specifies the end of a block and the name of that block.
CODES
This field must contain the following code (Error code(s): T92):
LINK Linkages.
8. Field 16S: End of Block
FORMAT
Option S 16c
PRESENCE
Mandatory
DEFINITION
This field specifies the end of a block and the name of that block.
CODES
This field must contain the following code (Error code(s): T92):
GENL General Information.
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9. Field 16R: Start of Block
FORMAT
Option R 16c
PRESENCE
Mandatory
DEFINITION
This field specifies the start of a block and the name of that block.
CODES
This field must contain the following code (Error code(s): T92):
FXDET FX Details.
10. Field 98A: Date: Value Date
FORMAT
Option A :4!c//8!n (Qualifier) (Date)
PRESENCE
Mandatory
QUALIFIER
(Error code(s): T89)
Order M/O Qualifier R/N CR Options Qualifier Description
1 M VALU N A Value Date
DEFINITION
This qualified generic field specifies:
VALU Value date of the transaction.
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NETWORK VALIDATED RULES
Date must be a valid date expressed as YYYYMMDD (Error code(s): T50).
11. Field 16R: Start of Block
FORMAT
Option R 16c
PRESENCE
Mandatory
DEFINITION
This field specifies the start of a block and the name of that block.
CODES
This field must contain the following code (Error code(s): T92):
FXPRTY1 FX Parties 1.
12. Field 95a: Party: FX Counterparty
FORMAT
Option P :4!c//4!a2!a2!c[3!c] (Qualifier) (BIC/BEI)Option Q :4!c//4*35x (Qualifier) (Name & Address)Option R :4!c/8c/34x (Qualifier) (Data Source Scheme) (Proprietary Code)
PRESENCE
Mandatory
QUALIFIER
(Error code(s): T89)
Order M/O Qualifier R/N CR Options Qualifier Description
1 M FXCO N P, R or Q FX Counterparty
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DEFINITION
This qualified generic field specifies:
FXCO FX Counterparty.
BIC specifies the Bank Identifier Code. BEI specifies the Business Entity Identifier.
Proprietary Code specifies a local national code or market segment code identifying the party.
NETWORK VALIDATED RULES
The BIC/BEI must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
13. Field 16S: End of Block
FORMAT
Option S 16c
PRESENCE
Mandatory
DEFINITION
This field specifies the end of a block and the name of that block.
CODES
This field must contain the following code (Error code(s): T92):
FXPRTY1 FX Parties 1.
14. Field 16R: Start of Block
FORMAT
Option R 16c
PRESENCE
Mandatory
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DEFINITION
This field specifies the start of a block and the name of that block.
CODES
This field must contain the following code (Error code(s): T92):
FXPRTY2 FX Parties 2.
15. Field 95a: Party: Investor
FORMAT
Option P :4!c//4!a2!a2!c[3!c] (Qualifier) (BIC/BEI)Option Q :4!c//4*35x (Qualifier) (Name & Address)Option R :4!c/8c/34x (Qualifier) (Data Source Scheme) (Proprietary Code)
PRESENCE
Optional
QUALIFIER
(Error code(s): T89)
Order M/O Qualifier R/N CR Options Qualifier Description
1 O INVE N P, R or Q Investor
DEFINITION
This qualified generic field specifies:
INVE Investor.
BIC specifies the Bank Identifier Code. BEI specifies the Business Entity Identifier.
Proprietary Code specifies a local national code or market segment code identifying the party.
NETWORK VALIDATED RULES
The BIC/BEI must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
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16. Field 97A: Account: Safekeeping Account
FORMAT
Option A :4!c//35x (Qualifier) (Account Number)
PRESENCE
Mandatory
QUALIFIER
(Error code(s): T89)
Order M/O Qualifier R/N CR Options Qualifier Description
1 M SAFE N A Safekeeping Account
DEFINITION
This qualified generic field specifies:
SAFE Safekeeping account.
USAGE RULES
This field contains the safekeeping account that the fund keeps with the custodian.
17. Field 16S: End of Block
FORMAT
Option S 16c
PRESENCE
Mandatory
DEFINITION
This field specifies the end of a block and the name of that block.
CODES
This field must contain the following code (Error code(s): T92):
FXPRTY2 FX Parties 2.
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18. Field 16R: Start of Block
FORMAT
Option R 16c
PRESENCE
Mandatory in a conditional (C1) sequence
DEFINITION
This field specifies the start of a block and the name of that block.
CODES
This field must contain the following code (Error code(s): T92):
GROSS Gross Settlement.
19. Field 16R: Start of Block
FORMAT
Option R 16c
PRESENCE
Mandatory in a conditional (C1) sequence
DEFINITION
This field specifies the start of a block and the name of that block.
CODES
This field must contain the following code (Error code(s): T92):
LINK Linkages.
20. Field 13A: Number Identification: Linked Transaction
FORMAT
Option A :4!c//3!c (Qualifier) (Number Id)
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PRESENCE
Optional in a conditional (C1) sequence
QUALIFIER
(Error code(s): T89)
Order M/O Qualifier R/N CR Options Qualifier Description
1 O LINK N A Linked Transaction
DEFINITION
This qualified generic field specifies:
LINK Type of transaction which is linked to this transaction.
USAGE RULES
Number ID must contain the MT number of the linked transaction.
21. Field 20C: Reference: Previous Reference
FORMAT
Option C :4!c//16x (Qualifier) (Reference)
PRESENCE
Mandatory in a conditional (C1) sequence
QUALIFIER
(Error code(s): T89)
Order M/O Qualifier R/N CR Options Qualifier Description
1 M PREV N C Previous Reference
DEFINITION
This qualified generic field specifies:
PREV Reference of the linked message which was previously sent.
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NETWORK VALIDATED RULES
Reference must not start or end with a slash ’/’ and not contain two consecutive slashes ’//’ (Error code(s): T26).
22. Field 16S: End of Block
FORMAT
Option S 16c
PRESENCE
Mandatory in a conditional (C1) sequence
DEFINITION
This field specifies the end of a block and the name of that block.
CODES
This field must contain the following code (Error code(s): T92):
LINK Linkages.
23. Field 16S: End of Block
FORMAT
Option S 16c
PRESENCE
Mandatory in a conditional (C1) sequence
DEFINITION
This field specifies the end of a block and the name of that block.
CODES
This field must contain the following code (Error code(s): T92):
GROSS Gross Settlement.
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24. Field 16R: Start of Block
FORMAT
Option R 16c
PRESENCE
Mandatory in a conditional (C1) sequence
DEFINITION
This field specifies the start of a block and the name of that block.
CODES
This field must contain the following code (Error code(s): T92):
NET Net Settlement.
25. Field 16R: Start of Block
FORMAT
Option R 16c
PRESENCE
Mandatory in a conditional (C1) sequence
DEFINITION
This field specifies the start of a block and the name of that block.
CODES
This field must contain the following code (Error code(s): T92):
LINK Linkages.
26. Field 13A: Number Identification: Linked Transaction
FORMAT
Option A :4!c//3!c (Qualifier) (Number Id)
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PRESENCE
Optional in a conditional (C1) sequence
QUALIFIER
(Error code(s): T89)
Order M/O Qualifier R/N CR Options Qualifier Description
1 O LINK N A Linked Transaction
DEFINITION
This qualified generic field specifies:
LINK Type of transaction which is linked to this transaction.
USAGE RULES
Number ID must contain the MT number of the linked transaction.
27. Field 20C: Reference: Previous Reference
FORMAT
Option C :4!c//16x (Qualifier) (Reference)
PRESENCE
Mandatory in a conditional (C1) sequence
QUALIFIER
(Error code(s): T89)
Order M/O Qualifier R/N CR Options Qualifier Description
1 M PREV N C Previous Reference
DEFINITION
This qualified generic field specifies:
PREV Reference of the linked message which was previously sent.
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NETWORK VALIDATED RULES
Reference must not start or end with a slash ’/’ and not contain two consecutive slashes ’//’ (Error code(s): T26).
28. Field 16S: End of Block
FORMAT
Option S 16c
PRESENCE
Mandatory in a conditional (C1) sequence
DEFINITION
This field specifies the end of a block and the name of that block.
CODES
This field must contain the following code (Error code(s): T92):
LINK Linkages.
29. Field 22H: Indicator: Gain/Loss Indicator
FORMAT
Option H :4!c//4!c (Qualifier) (Indicator)
PRESENCE
Mandatory Optional in a conditional (C1) sequence
QUALIFIER
(Error code(s): T89)
Order M/O Qualifier R/N CR Options Qualifier Description
1 M O GALO N H Gain Loss Indicator
DEFINITION
This qualified generic field specifies:
GALO This field specifies whether the net amount represents a gain or a loss.
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CODES
When Qualifier is GALO, Indicator must contain one of the following codes:
GAIN Gain/amount received.
LOSS Loss/amount paid.
30. Field 19B: Amount: Net Gain/Loss Amount
FORMAT
Option B :4!c//3!a15d (Qualifier) (Currency Code) (Amount)
PRESENCE
Mandatory in a conditional (C1) sequence
QUALIFIER
(Error code(s): T89)
Order M/O Qualifier R/N CR Options Qualifier Description
1 M ANTO N B Net Gain/Loss Amount
DEFINITION
This qualified generic field specifies:
ANTO Net Gain/Loss Amount
The net gain/loss amount which is paid/received.
NETWORK VALIDATED RULES
The integer part of Amount must contain at least one digit. The decimal comma is mandatory and is included in themaximum length. The number of digits following the comma must not exceed the maximum allowed for the specifiedcurrency (Error code(s): C03, T40, T43).
Currency Code must be a valid ISO 4217 currency code (Error code(s): T52).
31. Field 16R: Start of Block
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FORMAT
Option R 16c
PRESENCE
Mandatory in a conditional (C1) sequence
DEFINITION
This field specifies the start of a block and the name of that block.
CODES
This field must contain the following code (Error code(s): T92):
SETPRTY Settlement Party.
32. Field 95a: Party
FORMAT
Option P :4!c//4!a2!a2!c[3!c] (Qualifier) (BIC/BEI)Option Q :4!c//4*35x (Qualifier) (Name & Address)Option R :4!c/8c/34x (Qualifier) (Data Source Scheme) (Proprietary Code)
PRESENCE
Mandatory in a conditional (C1) sequence
QUALIFIER
(Error code(s): T89)
Order M/O Qualifier R/N CR Options Qualifier Description
1 M CDEA N C2 P, Q, R Cash Delivery Agent
or INTE N C2 P, Q, R Intermediary
or ACCW N C2 P, Q, R Account With Institution
or BENM N C2 P, Q, R Beneficiary of Money
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DEFINITION
The qualifiers are listed in the general order of occurrence. This qualified generic field specifies:
CDEA Cash Delivery Agent
The financial institution from which the payer will transfer the amount sold/bought.
INTE Intermediary The intermediary institution for the transfer of the funds.
ACCW Account With Institution
The institution to which the payment is to be made in favour of the beneficiary ofmoney.
BENM Beneficiary of Money
The institution in favour of which the payment is done.
BIC specifies the Bank Identifier Code. BEI specifies the Business Entity Identifier.
Proprietary Code specifies a local national code or market segment code identifying the party.
NETWORK VALIDATED RULES
Country Code must contain a valid ISO country code (Error code(s): T73).
The BIC/BEI must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
If Qualifier is CDEA, INTE or ACCW, the BIC must not be a BEI, must not be of type BEID, MCCO, TESP or TRCO(Error code(s): C05).
33. Field 97A: Account: Cash Account
FORMAT
Option A :4!c//35x (Qualifier) (Account Number)
PRESENCE
Optional in a conditional (C1) sequence
QUALIFIER
(Error code(s): T89)
Order M/O Qualifier R/N CR Options Qualifier Description
1 O CASH N A Cash Account
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DEFINITION
This qualified generic field specifies:
CASH Cash Account Account from/to which a payment is to be made and which is held by the party spec-ified in this sequence.
34. Field 70C: Narrative: Party Contact Narrative
FORMAT
Option C :4!c//4*35x (Qualifier) (Narrative)
PRESENCE
Optional in a conditional (C1) sequence
QUALIFIER
(Error code(s): T89)
Order M/O Qualifier R/N CR Options Qualifier Description
1 O PACO N C Party Contact Narrative
DEFINITION
This qualified generic field specifies:
PACO Party Contact Narrative
Narrative description of the contact unit or person responsible for the transaction atthe party defined within the party block.
35. Field 16S: End of Block
FORMAT
Option S 16c
PRESENCE
Mandatory in a conditional (C1) sequence
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DEFINITION
This field specifies the end of a block and the name of that block.
CODES
This field must contain the following code (Error code(s): T92):
SETPRTY Settlement Parties.
36. Field 16S: End of Block
FORMAT
Option S 16c
PRESENCE
Mandatory in a conditional (C1) sequence
DEFINITION
This field specifies the end of a block and the name of that block.
CODES
This field must contain the following code (Error code(s): T92):
NET Net Settlement.
37. Field 16S: End of Block
FORMAT
Option S 16c
PRESENCE
Mandatory
DEFINITION
This field specifies the end of a block and the name of that block.
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CODES
This field must contain the following code (Error code(s): T92):
FXDET Parties.
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MT 320 Fixed Loan/Deposit Confirmation
MT 320 ScopeThis message is exchanged to confirm a fixed term loan/deposit contract.
The message is used to confirm/notify the details of:
a new contract between the partiesan amendment to a previously agreed contractthe cancellation of a confirmationa rolled over/renewed contract between the partiesthe maturity of a contract.
This message is exchanged by or on behalf of the institutions or corporates, party A and party B, who have agreed to a fixedterm loan/deposit contract.
A money broker may also send this message to the two parties (party A and party B) for which he arranged the deal.
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If there are two money brokers involved in arranging a deal between party A and party B, this message can also beexchanged between these money brokers.
Party A and party B are the legal entities which have agreed to the transaction.
Party A is either:
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the Sender, orthe institution/corporate on behalf of which the message is sent, orone of the institutions for which the broker arranged the deal and to whom it is sending the confirmation, orwhen a money broker confirms to another money broker, the party for which the sending broker arranged the deal.
Party B is either:
the Receiver, orthe institution/corporate on behalf of which the message is received, orthe other institution for which the broker arranged the deal, ie, party A’s counterparty, orwhen a money broker confirms to another money broker, party A’s counterparty.
MT 320 Format SpecificationsThe MT 320 consists of seven sequences:
Sequence A General Information contains general information about the fixed loan/deposit as well as about the confir-mation itself.Sequence B Transaction Details contains information about the transaction.Sequence C Settlement Instructions for Amounts Payable by Party A provides the instructions for the amounts payableby party A.Sequence D Settlement Instructions for Amounts Payable by Party B provides the instructions for the amounts payableby party B.Sequence E Settlement Instructions for Interests Payable by Party A provides the instructions for the interest payableby party A.Sequence F Settlement Instructions for Interests Payable by Party B provides the instructions for the interest payableby party B.Sequence G Tax Information contains information on the tax regime.Sequence H Additional Information provides information, which is not match-critical.
MT 320 Fixed Loan/Deposit Confirmation
Status Tag Field Name Content/Options No.
Mandatory Sequence A General Information
M 15A New Sequence (CrLf) 1
M 20 Sender’s Reference 16x 2
O 21 Related Reference 16x 3
M 22A Type of Operation 4!c 4
O 94A Scope of Operation 4!c 5
M 22B Type of Event 4!c 6
M 22C Common Reference 4!a2!c4!n4!a2!c 7
O 21N Contract Number Party A 16x 8
M 82a Party A A, D or J 9
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Status Tag Field Name Content/Options No.
M 87a Party B A, D or J 10
O 83a Fund or Instructing Party A, D or J 11
O 77D Terms and Conditions 6*35x 12
Mandatory Sequence B Transaction Details
M 15B New Sequence (CrLf) 13
M 17R Party A’s Role 1!a 14
M 30T Trade Date 8!n 15
M 30V Value Date 8!n 16
M 30P Maturity Date 8!n 17
M 32B Currency and Principal Amount 3!a15d 18
O 32H Amount to be Settled [N]3!a15d 19
O 30X Next Interest Due Date 8!n 20
M 34E Currency and Interest Amount [N]3!a15d 21
M 37G Interest Rate [N]12d 22
M 14D Day Count Fraction 7x 23
O 30F Last Day of the First Interest Period 8!n 24
O 38J Number of Days 1!a3!n 25
Mandatory Sequence C Settlement Instructions for Amounts Payable by Party A
M 15C New Sequence (CrLf) 26
O 53a Delivery Agent A, D or J 27
O 86a Intermediary 2 A, D or J 28
O 56a Intermediary A, D or J 29
M 57a Receiving Agent A, D or J 30
O 58a Beneficiary Institution A, D or J 31
Mandatory Sequence D Settlement Instructions for Amounts Payable by Party B
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Status Tag Field Name Content/Options No.
M 15D New Sequence (CrLf) 32
O 53a Delivery Agent A, D or J 33
O 86a Intermediary 2 A, D or J 34
O 56a Intermediary A, D or J 35
M 57a Receiving Agent A, D or J 36
O 58a Beneficiary Institution A, D or J 37
Optional Sequence E Settlement Instructions for Interests Payable by Party A
M 15E New Sequence (CrLf) 38
O 53a Delivery Agent A, D or J 39
O 86a Intermediary 2 A, D or J 40
O 56a Intermediary A, D or J 41
M 57a Receiving Agent A, D or J 42
O 58a Beneficiary Institution A, D or J 43
Optional Sequence F Settlement Instructions for Interests Payable by Party B
M 15F New Sequence (CrLf) 44
O 53a Delivery Agent A, D or J 45
O 86a Intermediary 2 A, D or J 46
O 56a Intermediary A, D or J 47
M 57a Receiving Agent A, D or J 48
O 58a Beneficiary Institution A, D or J 49
Optional Sequence G Tax Information
M 15G New Sequence (CrLf) 50
M 37L Tax Rate 12d 51
M 33B Transaction Currency and Net Interest Amount 3!a15d 52
O 36 Exchange Rate 12d 53
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Status Tag Field Name Content/Options No.
O 33E Reporting Currency and Tax Amount 3!a15d 54
Optional Sequence H Additional Information
M 15H New Sequence (CrLf) 55
O 29A Contact Information 4*35x 56
O 24D Dealing Method 4!c[/35x] 57
O 84a Dealing Branch Party A A, B, D or J 58
O 85a Dealing Branch Party B A, B, D or J 59
O 88a Broker Identification A, D or J 60
O 71F Broker’s Commission 3!a15d 61
O 26H Counterparty’s Reference 16x 62
O 21G Broker’s Reference 16x 63
O 72 Sender to Receiver Information 6*35x 64
M = Mandatory O = Optional
MT 320 Network Validated RulesC1
In sequence A, the presence of field 21 depends on the value of fields 22B and 22A as follows (Error code(s): D70):
Sequence Aif field 22B is...
Sequence Aand if field 22A is...
Sequence Athen field 21 is...
CONF NEWT Optional
CONF Not equal NEWT Mandatory
Not equal CONF Any value Mandatory
C2
In sequence A, if field 94A is present and contains AGNT, then field 21N in sequence A is mandatory, otherwise field21N is optional (Error code(s): D72):
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Sequence Aif field 94A is...
Sequence Athen field 21N is...
AGNT Mandatory
BILA Optional
BROK Optional
Not present Optional
C3
In sequence B, the presence of fields 32H and 30X depends on the value of field 22B in sequence A as follows (Errorcode(s): D56):
Sequence Aif field 22B is...
Sequence Bthen field 32H is...
Sequence Band field 30X is...
CONF Not allowed Mandatory
MATU Mandatory Not allowed
ROLL Mandatory Mandatory
C4
In sequence B, the values allowed for field 32H depend on the values of fields 22B in sequence A and 17R in sequenceB as follows (Error code(s): D57):
Sequence Aif field 22B is...
Sequence Band field 17R is...
Sequence Bthen field 32H Amount must
be...
MATU L Negative or zero (*)
MATU B Positive or zero (*)
Not equal MATU Not applicable Not applicable
(*) The presence of the letter N (Sign) in subfield 1 of field 32H specifies a negative amount.
The absence of the letter N (Sign) in subfield 1 of field 32H specifies a positive amount.
If subfield 3 (Amount) of field 32H equals 0 (i.e. zero value), then the letter N (Sign) in subfield 1 of field 32H is notallowed (Error code(s): T14).
Note: Rule C3 (Error code(s): D56) describes the conditions of the presence of field 32H.
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C5
In sequence A, if field 22B contains MATU, then field 30F in sequence B is not allowed, otherwise field 30F isoptional (Error code(s): D69):
Sequence Aif field 22B is...
Sequence Bthen field 30F is...
MATU Not allowed
Not equal MATU Optional
C6
In sequence B, if field 30F is present then field 38J in sequence B is mandatory, otherwise field 38J is not allowed(Error code(s): D60):
Sequence Bif field 30F is...
Sequence Bthen field 38J is...
Present Mandatory
Not present Not allowed
C7
In sequences C, D, E (if present) and F (if present), if field 56a is not present, then field 86a in the same sequence C, D,E or F is not allowed, otherwise field 86a is optional (Error code(s): E35):
Sequence Cif field 56a is...
Sequence Cthen field 86a is...
Not present Not allowed
Present Optional
Sequence Dif field 56a is...
Sequence Dthen field 86a is...
Not present Not allowed
Present Optional
Sequence Eif field 56a is...
Sequence Ethen field 86a is...
Not present Not allowed
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Sequence Eif field 56a is...
Sequence Ethen field 86a is...
Present Optional
Sequence Fif field 56a is...
Sequence Fthen field 86a is...
Not present Not allowed
Present Optional
C8
The presence of sequence H and the presence of fields 88a and 71F in sequence H, depend on the value of field 94A insequence A as follows (Error code(s): D74):
Sequence Aif field 94A is...
then sequence H is... Sequence H and field88a is...
Sequence H and field71F is...
Not present Optional Optional Not allowed
AGNT Optional Optional Not allowed
BILA Optional Optional Not allowed
BROK Mandatory Mandatory Optional
C9
The currency code in the amount fields must be the same for all occurrences of these fields in the entire message,except for fields 33B and 33E in sequence G (Error code(s): C02).
C10
In sequence H, field 15H may not be the only field, ie, if field 15H is present, then at least one of the other fields ofsequence H must be present (Error code(s): C98).
MT 320 Usage RulesThe following guidelines apply when sending/exchanging an MT 320:
For the actual transfer of funds or the confirmation of credits and debits, other messages outside Category 3 are avail-able, such as the MTs 202/203/205, Financial Institution Transfer messages and the MTs 900/910/950, Confirmation ofDebit/Credit and Statement messages, respectively.
In all cases, the common reference of the MT 320 must be quoted in the relevant reference field, ie, field 21 of the MTs202, 203, 205.
If the underlying contract is amended/cancelled on a bilateral basis, this should be agreed upon by a bilateral exchangeof confirmations with either code AMND or CANC, respectively.To cancel a previously sent message (field 22A is CANC):
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field 21 must contain the reference (ie, the content of field 20) of the message containing the instruction to be cancelled;the cancellation message must contain a copy of at least the mandatory fields of the original message.
Sending an MT 320 with code word CANC in field 22A, cancels both the underlying contract and the previously sent confirmation message as referred to in field 21 Related Reference.To amend a previously sent message (field 22A is AMND):
field 21 must contain the reference (ie, the content of field 20) of the previous message;the amendment message must contain both the unchanged and the changed/new fields of the original message;the amendment message replaces the original message.
The sequence E Settlement Instructions for Interests Payable by Party A should only be used when the instructions inthis sequence are different from the instructions in sequence C Settlement Instructions for Amounts Payable by Party A.The sequence F Settlement Instructions for Interests Payable by Party B should only be used when the instructions inthis sequence are different from the instructions in sequence D Settlement Instructions for Amounts Payable by Party B.When a new deal is confirmed, the complete settlement instructions of both parties (Sequences C and D) are exchangedand matched. Any further message relative to this deal should repeat those settlement instructions. Payments resultingfrom a movement will be triggered by the content of field 32H (direction of the transfer) and field 30V (value date).The tables below show how the different amount fields involved in the deal can be indicated
Unless specifically mentioned, the presence of the fields mentioned in those tables is mandatory for the different situa-tions described
The conditional rules applying to a specific field are indicated next to that field.
Example of a Deposit (Party A is the Lender), the table is presented from Party A’s point of view, the interest rate is positive.
Fields New Contract
Rollover No Change
RolloverIncrease of Principal
RolloverDecrease of Principal
Maturity Inter-est settled with
Principal
Maturity Interestsettled separately
22B CONF ROLL ROLL ROLL MATU MATU
17R L L L L L L
32B Principal Amount
Principal Amount
New Principal Amount
New Principal Amount
Final Principal Amount
Final Principal Amount
32H (C3)
Not allowed Amountequals 0
Increase Amount
DecreaseAmountpreceded by Negative Sign N
Final PrincipalAmount + Inter-est (field 34E)preceded by Negative Sign N
Final PrincipalAmount precededby Negative Sign N
30X (C3) Next InterestPayment Date
Next InterestPayment Date
Next InterestPayment Date
Next InterestPayment Date
Not allowed Not allowed
34E Next InterestAmountpreceded by Negative Sign N
Next InterestAmountpreceded by NegativeSign N
Next InterestAmountpreceded by Negative Sign N
Next InterestAmountpreceded by Negative Sign N
Last InterestAmountpreceded by Negative Sign N
Last InterestAmount precededby Negative Sign N
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Example of a Loan (Party A is the Borrower), the table is presented from Party A’s point of view, the interest rate is positive.
Fields New Contract
Rollover No Change
RolloverIncrease of Principal
RolloverDecrease of Principal
Maturity Inter-est settled with
Principal
Maturity Interestsettled separately
22B CONF ROLL ROLL ROLL MATU MATU
17R B B B B B B
32B Principal Amount
Principal Amount
New Principal Amount
New Principal Amount
Final Principal Amount
Final Principal Amount
32H (C3)
Not allowed Amountequals 0
IncreaseAmountpreceded by Negative Sign N
Decrease Amount
Final PrincipalAmount + Inter-est (field 34E)
Final Principal Amount
30X (C3) Next InterestPayment Date
Next InterestPayment Date
Next InterestPayment Date
Next InterestPayment Date
Not allowed Not allowed
34E Next Interest Amount
Next Interest Amount
Next Interest Amount
Next Interest Amount
Last Interest Amount
Last Interest Amount
MT 320 GuidelinesThe MT 392 can also be used for cancellation. The following issues however, have to be considered:
Acknowledgement: by sending the MT 392, the sender requests the receiver to cancel the confirmation previously sent.The receiver must acknowledge the request by sending an MT 396 back to the sender of the MT 392.Routing: the MT 392 might not be routed to the same destination as the MT 320 to be cancelled.Repetition of the original message: in the MT 392, only the sender’s reference of the previous message is mandatory,all other fields are optional. When an MT 320 with CANC is used, the fields to be copied are mandated by the stan-dard.
Settlement Details
The table below shows how the different settlement parties involved in the deal can be identified. The table is presentedfrom party A’s point of view.
Whenever possible, users should use option A to identify institutions in these fields. Use of free text, ie, option D, exceptwhen used to specify recognized code words, is strongly discouraged. Option D not only precludes party B from matchingand further processing the message automatically but also is contrary to the message text standards which state that option Dis only to be used when no other option is available.
Option J is only used when exchanging messages with fund managers.
Normally, the beneficiary is party A for the amount bought and party B for the amount sold. If party A or party B forwardsthe funds to an ultimate beneficiary institution, this institution is included in field 58a.
Party A services account of party B. No separate settlement messages are sent.
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Party A will RECEIVE funds from Party B Party A will PAY funds to Party B
Party A will debit party B’s account. Party A will credit party B’s account
:53a: not used :53a: not used
:86a: not used :86a: not used
:56a: not used :56a: not used
:57a:[/account no of party B]party A
:57a:[/account no of party B]party A
Party B services account of party A. No separate settlement messages are sent.
Party A will RECEIVE funds from Party B Party A will PAY funds to Party B
Party B will credit party A’s account Party B will debit party A’s account
:53a: not used :53a: not used
:86a: not used :86a: not used
:56a: not used :56a: not used
:57a:[/account no of party A]party B
57a:[/account no of party A]party B
Beneficiary’s account serviced by a financial institution other than party A or party B. The payer sends an MT 202 toits correspondent who will then send an MT 205 or equivalent to the correspondent of the payee. The correspondentcan be a branch of the party.
Party A will RECEIVE funds from Party B Party A will PAY funds to Party B
Credit to party A’s account with that financial institution
Credit to party B’s account with that financial insti-tution
[:53a: Correspondent of party B] [:53a: Correspondent of party A]
:86a: not used :86a: not used
:56a: not used :56a: not used
:57a:[/account no of party A]correspondent of party A
:57a:[/account no of party B]correspondent of party B
Beneficiary receives the funds through another institution (eg, BANK x for party x).
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The payer sends an MT 202 to its correspondent. The correspondent will then send an MT 205 or equivalent to the correspondent of BANK x, ie, CORR x. CORR x will then send an MT 202 to BANK x who will then send an MT 950to party x.
Field 56a identifies where BANK x will receive the funds.
Party A will RECEIVE funds from Party B Party A will PAY funds to Party B
BANK A will receive the funds for party A BANK B will receive the funds for party B
[:53a:Correspondent of party B] [:53a:Correspondent of party A]
:86a: not used :86a: not used
:56a:[/account no of BANK A]CORR A
:56a:[/account no of BANK B]CORR B
:57a:[/account no of party A]BANK A
:57a: :[/account no of party B]BANK B
Beneficiary receives the funds through another institution (eg, BANK x for party x), the correspondent of BANK x,CORR x also uses a correspondent.
The payer sends an MT 202 to its correspondent. The correspondent will then send an MT 205 or equivalent to the correspondent of CORR x. The correspondent of CORR x will then send an MT 202 to CORR x. CORR x will thensend an MT 202 to BANK x who will then send an MT 950 to party x.
Field 86a identifies where CORR x will receive the funds.
Field 56a identifies the correspondent of BANK x.
Party A will RECEIVE funds from Party B Party A will PAY funds to Party B
BANK A will receive the funds for party A viaCORR A
BANK B will receive the funds for party B viaCORR B
[:53a:Correspondent of party B] [:53a:Correspondent of party A]
:86a:[/account of CORR A]correspondent of CORR A
:86a:[/account no of CORR B]correspondent of CORR B
:56a:[/account no of BANK A]CORR A
:56a:[/account no of BANK B]CORR B
:57a: :[/account no of partyA]BANK A
:57a: :[/account no of party B]BANK B
Beneficiary to receive the funds directly through a clearing system.
The payer sends an MT 202 to its correspondent who will then send an MT 202 the payee.
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Party A will RECEIVE funds from Party B Party A will PAY funds to Party B
Party A will receive the funds through clearing Party B will receive the funds through clearing
[:53a:Correspondent of party B] [:53a:Correspondent of party A]
:86a: not used :86a: not used
:56a: not used :56a: not used
:57a:/CLEARparty A
:57a:/CLEARparty B
The counterparties use their standing settlement instructions.
Party A will RECEIVE funds from Party B Party A will PAY funds to Party B
:53a: not used :53a: not used
:86a: not used :86a: not used
:56a: not used :56a: not used
:57D:SSI :57D:SSI
The payment flows are netted based on a bilateral agreement.
Party A will RECEIVE funds from Party B Party A will PAY funds to Party B
:53a: not used :53a: not used
:86a: not used :86a: not used
:56a: not used :56a: not used
:57D:NET :57D:NET
The settlement details are not known at the time the confirmation is issued.
Party A will RECEIVE funds from Party B Party A will PAY funds to Party B
:53a: not used :53a: not used
:86a: not used :86a: not used
:56a: not used :56a: not used
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Party A will RECEIVE funds from Party B Party A will PAY funds to Party B
:57D:UNKNOWN :57D:UNKNOWN
Note: It is only necessary to quote an account number when multiple accounts are serviced for the same institution.
MT 320 Field Specifications
1. Field 15A: New Sequence
FORMAT
Option A Empty field
PRESENCE
Mandatory
DEFINITION
This field specifies the start of mandatory sequence A General Information.
USAGE RULES
Only the field tag must be present, the field is empty.
2. Field 20: Sender’s Reference
FORMAT
16x (Reference)
PRESENCE
Mandatory
DEFINITION
This field specifies the reference assigned by the Sender to unambiguously identify the message.
NETWORK VALIDATED RULES
This field must not start or end with a slash ’/’ and must not contain two consecutive slashes ’//’ (Error code(s): T26).
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USAGE RULES
The reference assigned to a message is used for cross-referencing purposes in subsequent messages, such as following confirmation and statement messages as well as queries. It is therefore essential for the identification of the original messagesent that the reference be unique.
3. Field 21: Related Reference
FORMAT
16x (Reference)
PRESENCE
Conditional (C1)
DEFINITION
This field contains the identification of the message to which the current message is related.
NETWORK VALIDATED RULES
This field must not start or end with a slash ’/’ and must not contain two consecutive slashes ’//’ (Error code(s): T26).
USAGE RULES
When used, this field must contain the Sender’s reference (field 20) of the previous confirmation which is to be amended,cancelled, duplicated or the reference of the message to which the rollover or maturity applies.
4. Field 22A: Type of Operation
FORMAT
Option A 4!c (Function)
PRESENCE
Mandatory
DEFINITION
This field specifies the function of the message.
CODES
Function must contain one of the following codes (Error code(s): T36):
AMND Replaces a previously sent message with the amended one contained in this message.Used to add settlement agents to an MT 320 previously sent-or-to correct error(s) in an MT 320 previously sent.
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CANC Cancels a previously sent message.Used to cancel an MT 320 previously sent-or-to cancel an MT 320 which contains erroneous information.
DUPL Duplicates an already sent confirmation.
NEWT New confirmation.Used to send the MT 320 for the first time-or-to send a corrected MT 320 when the erroneous one was cancelled using an MT 320 with function CANC.
USAGE RULES
As the amend message replaces the previously sent confirmation, it must contain both the amended fields and the fieldswhich are not changed.
When the cancel function is used, the message must reconfirm at least the mandatory fields of the original transaction.
Please refer to further guidelines under field 22B, Type of Event.
An amendment or cancellation always refers to the previous confirmation identified in field 21 of this message.
5. Field 94A: Scope of Operation
FORMAT
Option A 4!c (Scope)
PRESENCE
Optional
DEFINITION
This field specifies the role of the Sender and the Receiver of the message in the conclusion of the confirmed trade.
CODES
Scope must contain one of the following codes (Error code(s): T36):
AGNT Sender/Receiver is sending/receiving the message on behalf of a third party
BILA Bilateral confirmation, ie, Sender and Receiver are the principals
BROK Confirmation is sent by a money broker
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USAGE RULES
The absence of this field means that the Sender and the Receiver are the principals.
AGNT is used when the confirmation has been sent or received on behalf of a separate legal party and that party has donethe deal.
6. Field 22B: Type of Event
FORMAT
Option B 4!c (Type)
PRESENCE
Mandatory
DEFINITION
This field specifies the event in the life of the loan/deposit.
CODES
Type must contain one of the following codes (Error code(s): T93):
CONF This is the first confirmation.
MATU This is a confirmation of the liquidation of a fixed loan/deposit.
ROLL This is a confirmation of a mutually agreed rollover/renewal with/without change in the principalamount and the interest to be settled or added/subtracted from that amount.
USAGE RULES
When the confirmation of a loan/deposit is sent for the first time CONF is used with field 22A = NEWT. To amend orcancel this confirmation CONF is still used and field 22A must contain either AMND or CANC.
When the loan/deposit is renewed (rolled over) for the first time, ROLL is used with field 22A = NEWT. To amend orcancel this rollover ROLL is still used and field 22A must contain either AMND or CANC.
Any subsequent renewal must be confirmed the same way as the first rollover: ROLL is used with field 22A = NEWT. Toamend or cancel subsequent rollovers, ROLL is still used and field 22A must contain either AMND or CANC.
When the loan/deposit is reaching its maturity without being rolled over, MATU is used with field 22A = NEWT. To amendor cancel this maturity message, MATU is still used and field 22A must contain either AMND or CANC.
As an overview: the right sequence of using the code words in the life cycle of the deal is:
1. Start of the loan/deposit:
NEWT/CONF (mandatory) followed by:AMND/CONF (optional)or CANC/CONF (optional)
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2. Renewal of the loan/deposit (the following is repeated as often as needed during the life of the loan/deposit):
NEWT/ROLL (mandatory) followed by:AMND/ROLL (optional)or CANC/ROLL (optional)
3. Termination of the loan/deposit:
NEWT/MATU (mandatory if maturity function is used) followed by:AMND/MATU (optional)or CANC/MATU (optional)
7. Field 22C: Common Reference
FORMAT
Option C 4!a2!c4!n4!a2!c (Bank Code 1) (Location Code 1) (Reference Code) (BankCode 2) (Location Code 2)
PRESENCE
Mandatory
DEFINITION
This field contains a reference common to both the Sender and the Receiver.
NETWORK VALIDATED RULES
This field consists of the bank and location codes (Error code(s): T95) (from the ISO Bank Identifier Code) of both theSender and the Receiver of the MT 320. These codes must appear in alphabetical order (letters take precedence overnumbers) (Error code(s): T96).
Location Code 1 and Bank Code 2 are separated by four digits, which must consist of the rightmost non-zero digit of field37G in sequence B, preceded by the three digits to the left of it. If there are no digits to the left of it, the space must be zerofilled (Error code(s): T22).
8. Field 21N: Contract Number Party A
FORMAT
Option N 16x (Contract Number)
PRESENCE
Conditional (C2)
DEFINITION
This field specifies the contract number of the transaction from party A’s viewpoint.
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USAGE RULES
This field must remain the same throughout the whole life of the transaction. It is used by party A to link the rollover or maturity to the original transaction.
9. Field 82a: Party A
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC/BEI)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Mandatory
DEFINITION
This field identifies party A.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC/BEI or UKWN if BIC/BEI not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/ O followed by a clearing code
M = Mandatory O = Optional
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NETWORK VALIDATED RULES
The BIC/BEI must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
USAGE RULES
For matching purposes, option A must be used when available.
Party A is either the sender :94A:BILA, or, the institution or corporate on whose behalf the message is sent :94A:AGNT,except when the Sender is a money broker :94A:BROK.
When the Sender is a fund manager, the fund manager is specified in this field.
Please refer to the chapter Scope for this MT.
10. Field 87a: Party B
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC/BEI)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Mandatory
DEFINITION
This field identifies party B.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC/BEI or UKWN if BIC/BEI not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
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/CLRC/ O followed by a clearing code
M = Mandatory O = Optional
NETWORK VALIDATED RULES
The BIC/BEI must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
USAGE RULES
For matching purposes, option A must be used when available.
Party B is either the receiver :94A:BILA, or, the institution or corporate on whose behalf the message is received :94A:AGNT except when the Sender is a money broker :94A:BROK.
When the Receiver is a fund manager, the fund manager is specified in this field.
Please refer to the Scope for this MT.
11. Field 83a: Fund or Instructing Party
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC/BEI)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Optional
DEFINITION
This field identifies the account information for party A, the underlying fund or instructing institution.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ O followed by the BIC/BEI or UKWN if BIC/BEI not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
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/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/ O followed by a clearing code
M = Mandatory O = Optional
NETWORK VALIDATED RULES
The BIC/BEI must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
USAGE RULES
When the message is sent or received by a fund manager, this field specifies the fund. The fund manager is specified respec-tively in either field 82a or field 87a.
For matching purposes, option A must be used when available.
12. Field 77D: Terms and Conditions
FORMAT
Option D 6*35x (Narrative)
PRESENCE
Optional
DEFINITION
This field specifies the underlying legal agreement.
CODES
Narrative may contain one of the following codes:
/FIDU/ The trade is a fiduciary.
/TBIL/ The trade is the result of the issuance of a "Sterling Acceptance " or a "Treasury Bill" sent from theborrower to the lender and confirmed by the lender. At maturity, the borrower will pay a pre-arrangedamount back to the lender.
/WITH/ Withholding taxes apply.
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USAGE RULES
This field may refer to master agreements; it may also refer to local regulations or specific conditions applicable to the trade.
If this field is not present, the deal conforms either to bilateral agreements or to usual banking practices.
The absence of the codes /WITH/ and/or /FIDU/ does not mean that withholding taxes do not apply or that the trade is theresult of proprietary trading, it only means that the information is not relevant for the Receiver.
13. Field 15B: New Sequence
FORMAT
Option B Empty field
PRESENCE
Mandatory
DEFINITION
This field specifies the start of mandatory sequence B Transaction Details.
USAGE RULES
Only the field tag must be present, the field is empty.
14. Field 17R: Party’s A Role
FORMAT
Option R 1!a (Indicator)
PRESENCE
Mandatory
DEFINITION
This field specifies whether party A is the borrower or the lender.
CODES
Indicator must contain one of the following codes (Error code(s): T67):
B Borrower: party A receives the principal amount and pays the interest.
L Lender: party A pays the principal amount and receives the interest.
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15. Field 30T: Trade Date
FORMAT
Option T 8!n (Date)
PRESENCE
Mandatory
DEFINITION
This date specifies the date the original deal or the rollover was agreed between party A and party B.
NETWORK VALIDATED RULES
Date must be a valid date expressed as YYYYMMDD (Error code(s): T50).
USAGE RULES
The trade date remains the same when a confirmation is amended (corrected/completed) unilaterally. When the terms of thedeal are renegociated on a bilateral basis, the trade date reflects the date of renegociation in the amend message.
16. Field 30V: Value Date
FORMAT
Option V 8!n (Date)
PRESENCE
Mandatory
DEFINITION
This date specifies for
a new confirmation (22B=CONF), the value date of the deposit;
a rollover (22B=ROLL), the value date of the rollover, ie, the maturity date of the rolled over deposit;
a maturity confirmation (22B=MATU), the value date of the original deposit for a non-rolled over deposit or the value dateof the previous rollover.
NETWORK VALIDATED RULES
Date must be a valid date expressed as YYYYMMDD (Error code(s): T50).
17. Field 30P: Maturity Date
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FORMAT
Option P 8!n (Date)
PRESENCE
Mandatory
DEFINITION
This date specifies the latest agreed maturity date, ie, the date on which the principal is to be returned and the interest due.
NETWORK VALIDATED RULES
Date must be a valid date expressed as YYYYMMDD (Error code(s): T50).
18. Field 32B: Currency and Principal Amount
FORMAT
Option B 3!a15d (Currency) (Amount)
PRESENCE
Mandatory
DEFINITION
This field specifies the currency and contract amount, ie, the amount on which the interest specified in field 34E is calcu-lated. For a new confirmation (22B=CONF), this amount has to be settled at value date.
NETWORK VALIDATED RULES
Currency must be a valid ISO 4217 currency code (Error code(s): T52).
The integer part of Amount must contain at least one digit. A decimal comma is mandatory and is included in the maximumlength. The number of digits following the comma must not exceed the maximum number allowed for the specifiedcurrency (Error code(s): C03, T40, T43).
19. Field 32H: Amount to be Settled
FORMAT
Option H [N]3!a15d (Sign) (Currency) (Amount)
PRESENCE
Conditional (C3)
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DEFINITION
This field specifies for:
a rollover confirmation (22B=ROLL): the difference between the previous and the new principal amount to be settled atvalue date;
a maturity confirmation (22B=MATU), this field specifies the amount with optional interests to be paid by the borrower at maturity date.
NETWORK VALIDATED RULES
Currency must be a valid ISO 4217 currency code (Error code(s): T52).
The integer part of Amount must contain at least one digit. A decimal comma is mandatory and is included in the maximumlength. The number of digits following the comma must not exceed the maximum number allowed for the specifiedcurrency (Error code(s): C03, T40, T43).
Sign must not be used when Amount is equal to ’0’ (Error code(s): T14).
USAGE RULES
If Amount is positive (Sign is not present), the amount is to be paid by party A; if Amount is negative (Sign is present), theamount is to be received by party A.
For a rollover with no change in principal, Amount is zero and Currency is the currency of the loan/deposit.
For a maturity confirmation, if both the principal and the interest are paid to the same financial institution (sequences E andF are not present) field 32H contains the sum of the principal and the interest to be settled.
If interests are paid to another financial institution (sequence E or F is present), field 32H contains only the principal to be repaid.
20. Field 30X: Next Interest Due Date
FORMAT
Option X 8!n (Date)
PRESENCE
Conditional (C3)
DEFINITION
This date specifies the date the next interest is due.
NETWORK VALIDATED RULES
Date must be a valid date expressed as YYYYMMDD (Error code(s): T50).
21. Field 34E: Currency and Interest Amount
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FORMAT
Option E [N]3!a15d (Sign) (Currency) (Amount)
PRESENCE
Mandatory
DEFINITION
This field specifies for
a new confirmation (22B=CONF), the first interest amount;
a rollover confirmation (22B=ROLL), the next interest amount;
a maturity confirmation (22B=MATU), the final interest amount to be settled at maturity.
NETWORK VALIDATED RULES
Currency must be a valid ISO 4217 currency code (Error code(s): T52).
The integer part of Amount must contain at least one digit. A decimal comma is mandatory and is included in the maximumlength. The number of digits following the comma must not exceed the maximum number allowed for the specifiedcurrency (Error code(s): C03, T40, T43).
Sign must not be used when Amount is equal to ’0’ (Error code(s): T14).
USAGE RULES
If the interest amount has to be paid by Party A, Sign must not be present; if the interest amount has to be received by PartyA, Amount is negative and Sign must be present.
For a maturity confirmation, this amount is settled separately only when the principal and the interests are paid to a different financial institution (sequence E or F is present).
22. Field 37G: Interest Rate
FORMAT
Option G [N]12d (Sign) (Rate)
PRESENCE
Mandatory
DEFINITION
This field specifies the interest rate.
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NETWORK VALIDATED RULES
The integer part of Rate must contain at least one digit. A decimal comma is mandatory and is included in the maximumlength (Error code(s): T40, T43).
Sign must not be used when Rate is equal to ’0’ (Error code(s): T14).
USAGE RULES
Sign must not be present for a positive rate.
Sign must be present for a negative rate.
A negative rate is used in the extremely rare cases where the agreed rate is negative, the sign of the rate is independent fromthe direction of the deal (Loan or Deposit).
The interest rate must be specified in any confirmation even when there is no change in the rate.
23. Field 14D: Day Count Fraction
FORMAT
Option D 7x (Code)
PRESENCE
Mandatory
DEFINITION
This field specifies the number of days which are taken into account for the calculation of the interest.
This field specifies the Day Count Fraction as per ISDA definitions.
CODES
One of the following codes must be used (Error code(s): T36):
ACT/365 ’Actual/365’ or ’Actual/Actual’ (28-31/365-6).
AFI/365 ’Actual/365 (fixed)’ (28-31/365).
ACT/360 ’Actual/360’ (28-31/360).
360/360 ’30/360’, ’360/360’ or ’Bond Basis’.
30E/360 ’30E/360’ or ’Eurobond Basis’.
24. Field 30F: Last Day of the First Interest Period
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FORMAT
Option F 8!n (Date)
PRESENCE
Conditional (C5)
DEFINITION
This date specifies the last day of the first/next interest period.
NETWORK VALIDATED RULES
Date must be a valid date expressed as YYYYMMDD (Error code(s): T50).
USAGE RULES
This field should only be used when there is at least one interest payment before maturity.
25. Field 38J: Number of Days
FORMAT
Option J 1!a3!n (Indicator) (Number)
PRESENCE
Conditional (C6)
DEFINITION
This field specifies the number of days or months between interest payments starting from the date specified in field 30F.
CODES
Indicator must contain one of the following codes (Error code(s): T61):
D Days
M Months
26. Field 15C: New Sequence
FORMAT
Option C Empty field
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PRESENCE
Mandatory
DEFINITION
This field specifies the start of mandatory sequence C Settlement Instructions for Amounts Payable by Party A.
USAGE RULES
Only the field tag must be present, the field is empty.
27. Field 53a: Delivery Agent
FORMAT
Option A [/1!a][/34x] 4!a2!a2!c[3!c]
(Party Identifier)(BIC)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Optional
DEFINITION
This field identifies the financial institution from which party A will transfer the funds.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC or UKWN if BIC not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/or
O followed by a clearing code
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/NETS/or
M A net settlement is taking place.
/SSIS/ M Standard settlement instructions are used.
M = Mandatory O = Optional
NETWORK VALIDATED RULES
The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
The BIC must not be a BEI, ie, must not be of subtype BEID, MCCO, TESP or TRCO (Error code(s): C05).
USAGE RULES
For matching purposes, option A must be used when available.
Field 53a is used only when the payer wants to inform the payee where the funds come from.
Please refer to the chapter Guidelines for this MT.
28. Field 86a: Intermediary 2
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Conditional (C7)
DEFINITION
This field identifies the second intermediary institution for the transfer of the funds.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC or UKWN if BIC not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
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/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/or
O followed by a clearing code
/NETS/or
M A net settlement is taking place.
/SSIS/ M Standard settlement instructions are used.
M = Mandatory O = Optional
NETWORK VALIDATED RULES
The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
The BIC must not be a BEI, ie, must not be of subtype BEID, MCCO, TESP or TRCO (Error code(s): C05).
USAGE RULES
This field is used when there is a second financial institution between the delivery institution and the receiving institution. Inthe payment chain, this intermediary comes before the first intermediary.
For matching purposes, option A must be used when available.
Please refer to the chapter Guidelines for this MT.
29. Field 56a: Intermediary
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Optional
DEFINITION
This field identifies the first intermediary institution for the transfer of the funds.
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CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC or UKWN if BIC not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/or
O followed by a clearing code
/NETS/or
M A net settlement is taking place.
/SSIS/ M Standard settlement instructions are used.
M = Mandatory O = Optional
NETWORK VALIDATED RULES
The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
The BIC must not be a BEI, ie, must not be of subtype BEID, MCCO, TESP or TRCO (Error code(s): C05).
USAGE RULES
This field is used when there is at least one financial institution between the delivery institution and the receiving institution.
For matching purposes, option A must be used when available
Please refer to the chapter Guidelines for this MT.
30. Field 57a: Receiving Agent
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
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Option J 5*40x (Party Identification)
PRESENCE
Mandatory
DEFINITION
This field identifies the financial institution and account where party B will receive the payment.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC or UKWN if BIC not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/or
O followed by a clearing code
/NETS/or
M A net settlement is taking place.
/SSIS/ M Standard settlement instructions are used.
M = Mandatory O = Optional
CODES
With option D, one of the following codes may also be used:
NET When net settlement takes place
NONE When no settlement is taking place.
SSI When standing settlement instructions apply.
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UNKNOWN When the settlement instructions are not known.
NETWORK VALIDATED RULES
The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
The BIC must not be a BEI, ie, must not be of subtype BEID, MCCO, TESP or TRCO (Error code(s): C05).
USAGE RULES
For matching purposes, option A must be used when available.
Party Identifier in options A and D may be used to indicate a CHIPS Universal Identifier. When used, it must be precededby a double slash ’//’, and the code CH and 6 digits.
Please refer to the chapter Guidelines for this MT.
31. Field 58a: Beneficiary Institution
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC/BEI)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Optional
DEFINITION
This field specifies the institution in favour of which the payment is made when different from Party B.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC/BEI or UKWN if BIC/BEI not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
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/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/ O followed by a clearing code
M = Mandatory O = Optional
NETWORK VALIDATED RULES
The BIC/BEI must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
USAGE RULES
For matching purposes, option A must be used when available.
Please refer to the chapter Guidelines for this MT.
32. Field 15D: New Sequence
FORMAT
Option D Empty field
PRESENCE
Mandatory
DEFINITION
This field specifies the start of mandatory sequence D Settlement Instructions for Amounts Payable by Party B.
USAGE RULES
Only the field tag must be present, the field is empty.
33. Field 53a: Delivery Agent
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Optional
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DEFINITION
This field identifies the financial institution from which party B will transfer the funds.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC or UKWN if BIC not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/or
O followed by a clearing code
/NETS/or
M A net settlement is taking place.
/SSIS/ M Standard settlement instructions are used.
M = Mandatory O = Optional
NETWORK VALIDATED RULES
The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
The BIC must not be a BEI, ie, must not be of subtype BEID, MCCO, TESP or TRCO (Error code(s): C05).
USAGE RULES
For matching purposes, option A must be used when available
Field 53a is used only when the payer wants to inform the payee where the funds come from.
Please refer to the chapter Guidelines for this MT.
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34. Field 86a: Intermediary 2
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Conditional (C7)
DEFINITION
This field identifies the second intermediary institution for the transfer of the funds.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC or UKWN if BIC not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/or
O followed by a clearing code
/NETS/or
M A net settlement is taking place.
/SSIS/ M Standard settlement instructions are used.
M = Mandatory O = Optional
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NETWORK VALIDATED RULES
The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
The BIC must not be a BEI, ie, must not be of subtype BEID, MCCO, TESP or TRCO (Error code(s): C05).
USAGE RULES
This field is used when there is a second financial institution between the delivery institution and the receiving institution. Inthe payment chain, this intermediary comes before the first intermediary.
For matching purposes, option A must be used when available.
Please refer to the chapter Guidelines for this MT.
35. Field 56a: Intermediary
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Optional
DEFINITION
This field identifies the first intermediary institution for the transfer of the funds.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC or UKWN if BIC not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
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/CLRC/or
O followed by a clearing code
/NETS/or
M A net settlement is taking place.
/SSIS/ M Standard settlement instructions are used.
M = Mandatory O = Optional
NETWORK VALIDATED RULES
The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
The BIC must not be a BEI, ie, must not be of subtype BEID, MCCO, TESP or TRCO (Error code(s): C05).
USAGE RULES
This field is used when there is at least one financial institution between the delivery institution and the receiving institution.
For matching purposes, option A must be used when available
Please refer to the chapter Guidelines for this MT.
36. Field 57a: Receiving Agent
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Mandatory
DEFINITION
This field identifies the financial institution and account where party A will receive the payment.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC or UKWN if BIC not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
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/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/or
O followed by a clearing code
/NETS/or
M A net settlement is taking place.
/SSIS/ M Standard settlement instructions are used.
M = Mandatory O = Optional
CODES
With option D, one of the following codes may also be used:
NET When net settlement takes place
NONE When no settlement is taking place.
SSI When standing settlement instructions apply.
UNKNOWN When the settlement instructions are not known.
NETWORK VALIDATED RULES
The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
The BIC must not be a BEI, ie, must not be of subtype BEID, MCCO, TESP or TRCO (Error code(s): C05).
USAGE RULES
For matching purposes, option A must be used when available.
Party Identifier in options A and D may be used to indicate a CHIPS Universal Identifier. When used, it must be precededby a double slash ’//’, and the code CH and 6 digits.
Please refer to the chapter Guidelines for this MT.
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37. Field 58a: Beneficiary Institution
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC/BEI)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Optional
DEFINITION
This field specifies the institution in favour of which the payment is made when different from party A.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC/BEI or UKWN if BIC/BEI not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC O followed by a clearing code
M = Mandatory O = Optional
NETWORK VALIDATED RULES
The BIC/BEI must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
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USAGE RULES
For matching purposes, option A must be used when available.
Please refer to the chapter Guidelines for this MT.
38. Field 15E: New Sequence
FORMAT
Option E Empty field
PRESENCE
Mandatory in an optional sequence
DEFINITION
This field specifies the start of optional sequence E Settlement Instructions for Interests Payable by Party A.
USAGE RULES
Only the field tag must be present, the field is empty.
39. Field 53a: Delivery Agent
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Optional
DEFINITION
This field identifies the financial institution from which party A will transfer the interest.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC or UKWN if BIC not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
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/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/or
O followed by a clearing code
/NETS/or
M A net settlement is taking place.
/SSIS/ M Standard settlement instructions are used.
M = Mandatory O = Optional
NETWORK VALIDATED RULES
The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
The BIC must not be a BEI, ie, must not be of subtype BEID, MCCO, TESP or TRCO (Error code(s): C05).
USAGE RULES
For matching purposes, option A must be used when available.
Field 53a is used only when the payer wants to inform the payee where the funds come from.
Please refer to the chapter Guidelines for this MT.
40. Field 86a: Intermediary 2
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Conditional (C7)
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DEFINITION
This field identifies the second intermediary institution for the transfer of the interest.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC or UKWN if BIC not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/or
O followed by a clearing code
/NETS/or
M A net settlement is taking place.
/SSIS/ M Standard settlement instructions are used.
M = Mandatory O = Optional
NETWORK VALIDATED RULES
The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
The BIC must not be a BEI, ie, must not be of subtype BEID, MCCO, TESP or TRCO (Error code(s): C05).
USAGE RULES
This field is used when there is a second financial institution between the delivery institution and the receiving institution. Inthe payment chain, this intermediary comes before the first intermediary.
For matching purposes, option A must be used when available.
Please refer to the chapter Guidelines for this MT.
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41. Field 56a: Intermediary
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Optional
DEFINITION
This field identifies the first intermediary institution for the transfer of the interest.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC or UKWN if BIC not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/or
O followed by a clearing code
/NETS/or
M A net settlement is taking place.
/SSIS/ M Standard settlement instructions are used.
M = Mandatory O = Optional
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NETWORK VALIDATED RULES
The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
The BIC must not be a BEI, ie, must not be of subtype BEID, MCCO, TESP or TRCO (Error code(s): C05).
USAGE RULES
This field is used when there is at least one financial institution between the delivery institution and the receiving institution.
For matching purposes, option A must be used when available.
Please refer to the chapter Guidelines for this MT.
42. Field 57a: Receiving Agent
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Mandatory in an optional sequence
DEFINITION
This field identifies the financial institution and account where party B will receive the interest.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC or UKWN if BIC not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
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/CLRC/or
O followed by a clearing code
/NETS/or
M A net settlement is taking place.
/SSIS/ M Standard settlement instructions are used.
M = Mandatory O = Optional
CODES
With option D, one of the following codes may also be used:
NET When net settlement takes place.
NONE When no settlement is taking place.
SSI When standing settlement instructions apply.
UNKNOWN When the settlement instructions are not known.
NETWORK VALIDATED RULES
The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
The BIC must not be a BEI, ie, must not be of subtype BEID, MCCO, TESP or TRCO (Error code(s): C05).
USAGE RULES
For matching purposes, option A must be used when available.
Party Identifier in options A and D may be used to indicate a CHIPS Universal Identifier. When used, it must be precededby a double slash ’//’, and the code CH and 6 digits.
Please refer to the chapter Guidelines for this MT.
43. Field 58a: Beneficiary Institution
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC/BEI)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
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PRESENCE
Optional
DEFINITION
This field specifies the institution in favour of which the payment is made when different from party B.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC/BEI or UKWN if BIC/BEI not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC O followed by a clearing code
M = Mandatory O = Optional
NETWORK VALIDATED RULES
The BIC/BEI must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
USAGE RULES
For matching purposes, option A must be used when available.
Please refer to the chapter Guidelines for this MT.
44. Field 15F: New Sequence
FORMAT
Option F Empty field
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PRESENCE
Mandatory in an optional sequence
DEFINITION
This field specifies the start of optional sequence F Settlement Instructions for Interests Payable by Party B.
USAGE RULES
Only the field tag must be present, the field is empty.
45. Field 53a: Delivery Agent
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Optional
DEFINITION
This field identifies the financial institution from which party B will transfer the interest.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC or UKWN if BIC not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/or
O followed by a clearing code
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/NETS/or
M A net settlement is taking place.
/SSIS/ M Standard settlement instructions are used.
M = Mandatory O = Optional
NETWORK VALIDATED RULES
The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
The BIC must not be a BEI, ie, must not be of subtype BEID, MCCO, TESP or TRCO (Error code(s): C05).
USAGE RULES
For matching purposes, option A must be used when available.
Field 53a is used only when the payer wants to inform the payee where the funds come from.
Please refer to the chapter Guidelines for this MT.
46. Field 86a: Intermediary 2
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Conditional (C7)
DEFINITION
This field identifies the second intermediary institution for the transfer of the interest.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC or UKWN if BIC not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
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/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/or
O followed by a clearing code
/NETS/or
M A net settlement is taking place.
/SSIS/ M Standard settlement instructions are used.
M = Mandatory O = Optional
NETWORK VALIDATED RULES
The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
The BIC must not be a BEI, ie, must not be of subtype BEID, MCCO, TESP or TRCO (Error code(s): C05).
USAGE RULES
This field is used when there is a second financial institution between the delivery institution and the receiving institution. Inthe payment chain, this intermediary comes before the first intermediary.
For matching purposes, option A must be used when available.
Please refer to the chapter Guidelines for this MT.
47. Field 56a: Intermediary
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Optional
DEFINITION
This field identifies the first intermediary institution for the transfer of the interest.
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CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC or UKWN if BIC not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/or
O followed by a clearing code
/NETS/or
M A net settlement is taking place.
/SSIS/ M Standard settlement instructions are used.
M = Mandatory O = Optional
NETWORK VALIDATED RULES
The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
The BIC must not be a BEI, ie, must not be of subtype BEID, MCCO, TESP or TRCO (Error code(s): C05).
USAGE RULES
This field is used when there is at least one financial institution between the delivery institution and the receiving institution.
For matching purposes, option A must be used when available.
Please refer to the chapter Guidelines for this MT.
48. Field 57a: Receiving Agent
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
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Option J 5*40x (Party Identification)
PRESENCE
Mandatory in an optional sequence
DEFINITION
This field identifies the financial institution and account where party A will receive the interest.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC or UKWN if BIC not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/or
O followed by a clearing code
/NETS/or
M A net settlement is taking place.
/SSIS/ M Standard settlement instructions are used.
M = Mandatory O = Optional
CODES
With option D, one of the following codes may also be used:
NET When net settlement takes place
NONE When no settlement is taking place.
SSI When standing settlement instructions apply.
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UNKNOWN When the settlement instructions are not known.
NETWORK VALIDATED RULES
The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
The BIC must not be a BEI, ie, must not be of subtype BEID, MCCO, TESP or TRCO (Error code(s): C05).
USAGE RULES
For matching purposes, option A must be used when available.
Party Identifier in options A and D may be used to indicate a CHIPS Universal Identifier. When used, it must be precededby a double slash ’//’, and the code CH and 6 digits.
Please refer to the chapter Guidelines for this MT.
49. Field 58a: Beneficiary Institution
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC/BEI)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Optional
DEFINITION
This field specifies the institution in favour of which the payment is made when different from party A.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC/BEI or UKWN if BIC/BEI not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
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/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/ O followed by a clearing code
M = Mandatory O = Optional
NETWORK VALIDATED RULES
The BIC/BEI must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
USAGE RULES
For matching purposes, option A must be used when available.
Please refer to the chapter Guidelines for this MT.
50. Field 15G: New Sequence
FORMAT
Option G Empty field
PRESENCE
Mandatory in an optional sequence
DEFINITION
This field specifies the start of optional sequence G Tax Information.
USAGE RULES
Only the field tag must be present, the field is empty.
51. Field 37L: Tax Rate
FORMAT
Option L 12d (Rate)
PRESENCE
Mandatory in an optional sequence
DEFINITION
This field specifies the tax percentage.
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NETWORK VALIDATED RULES
The integer part of Rate must contain at least one digit. A decimal comma is mandatory and is included in the maximumlength (Error code(s): T40, T43).
52. Field 33B: Transaction Currency and Net Interest Amount
FORMAT
Option B 3!a15d (Currency) (Amount)
PRESENCE
Mandatory in an optional sequence
DEFINITION
This field specifies the currency and net interest amount (after deductions of taxes).
NETWORK VALIDATED RULES
Currency must be a valid ISO 4217 currency code (Error code(s): T52).
The integer part of Amount must contain at least one digit. A decimal comma is mandatory and is included in the maximumlength. The number of digits following the comma must not exceed the maximum number allowed for the specifiedcurrency (Error code(s): C03, T40, T43).
53. Field 36: Exchange Rate
FORMAT
12d (Rate)
PRESENCE
Optional
DEFINITION
This field specifies the exchange rate between the transaction currency and the reporting currency.
NETWORK VALIDATED RULES
The integer part of Rate must contain at least one digit. A decimal comma is mandatory and is included in the maximumlength (Error code(s): T40, T43).
54. Field 33E: Reporting Currency and Tax Amount
FORMAT
Option E 3!a15d (Currency) (Amount)
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PRESENCE
Optional
DEFINITION
This field specifies the tax amount in the reporting currency.
NETWORK VALIDATED RULES
Currency must be a valid ISO 4217 currency code (Error code(s): T52).
The integer part of Amount must contain at least one digit. A decimal comma is mandatory and is included in the maximumlength. The number of digits following the comma must not exceed the maximum number allowed for the specifiedcurrency (Error code(s): C03, T40, T43).
55. Field 15H: New Sequence
FORMAT
Option H Empty field
PRESENCE
Mandatory in a conditional (C8) sequence
DEFINITION
This field specifies the start of optional sequence H Additional Information.
USAGE RULES
Only the field tag must be present, the field is empty.
56. Field 29A: Contact Information
FORMAT
Option A 4*35x (Narrative)
PRESENCE
Optional in a conditional (C8) sequence
DEFINITION
This field specifies the name and/or telephone number of the person the Receiver may contact for any queries concerningthis transaction.
CODES
At least one of the following should be used:
/DEPT/ followed by the name of the department
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/FAXT/ followed by fax number
/NAME/ followed by the name of the contact person
/PHON/ followed by the telephone number
/TELX/ followed by the telex number
USAGE RULES
The codes do not need to be put on separate lines. It is the ’/’ at the beginning of a code and not the end-of-line that marksthe end of the information behind the previous code.
57. Field 24D: Dealing Method
FORMAT
Option D 4!c[/35x] (Code) (Additional Information)
PRESENCE
Optional in a conditional (C8) sequence
DEFINITION
This field specifies how the deal was agreed.
CODES
Code must contain one of the following codes, optionally followed with Additional Information (Error code(s): T68):
BROK Deal made via a money broker.
ELEC Deal made via an electronic system (Reuters, EBS etc.).
PHON Deal agreed on the phone.
USAGE RULES
For voice brokers this field contains the code BROK. If the broker needs to be identified explicitly, field 88a must be used.
58. Field 84a: Dealing Branch Party A
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC/BEI)
Option B [/1!a][/34x][35x]
(Party Identifier)(Location)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
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Option J 5*40x (Party Identification)
PRESENCE
Optional in a conditional (C8) sequence
DEFINITION
This field specifies the branch of party A with whom the deal was done.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC/BEI or UKWN if BIC/BEI not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/ O followed by a clearing code
M = Mandatory O = Optional
NETWORK VALIDATED RULES
The BIC/BEI must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
USAGE RULES
The absence of this field means that party A is the dealing branch.
59. Field 85a: Dealing Branch Party B
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC/BEI)
Option B [/1!a][/34x][35x]
(Party Identifier)(Location)
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Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Optional in a conditional (C8) sequence
DEFINITION
This field specifies the branch of party B with whom the deal was done.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC/BEI or UKWN if BIC/BEI not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/ O followed by a clearing code
M = Mandatory O = Optional
NETWORK VALIDATED RULES
The BIC/BEI must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
USAGE RULES
The absence of this field means that party B is the dealing branch.
60. Field 88a: Broker Identification
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FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC/BEI)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Conditional (C8)
DEFINITION
This field specifies the broker which arranged the deal between party A and party B or, when two money brokers areinvolved, between party A and the other money broker.
CODES
With option J, the following qualifier codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC/BEI or UKWN if BIC/BEI not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/ O followed by a clearing code
M = Mandatory O = Optional
NETWORK VALIDATED RULES
The BIC/BEI must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
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USAGE RULES
This field is only used to identify voice brokers. Electronic brokerage systems must be identified in field 24D Dealing Method.
61. Field 71F: Broker’s Commission
FORMAT
Option F 3!a15d (Currency) (Amount)
PRESENCE
Conditional (C8)
DEFINITION
This field specifies the brokerage fee for a broker confirmation.
NETWORK VALIDATED RULES
Currency must be a valid ISO 4217 currency code (Error code(s): T52).
The integer part of Amount must contain at least one digit. A decimal comma is mandatory and is included in the maximumlength. The number of digits following the comma must not exceed the maximum number allowed for the specifiedcurrency (Error code(s): C03, T40, T43).
62. Field 26H: Counterparty’s Reference
FORMAT
Option H 16x
PRESENCE
Optional in a conditional (C8) sequence
DEFINITION
This field specifies the counterparty’s reference, if known.
63. Field 21G: Broker’s Reference
FORMAT
Option G 16x
PRESENCE
Optional in a conditional (C8) sequence
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DEFINITION
This field specifies the broker’s reference of the trade.
NETWORK VALIDATED RULES
This field must not start or end with a slash ’/’ and must not contain two consecutive slashes ’//’ (Error code(s): T26).
64. Field 72: Sender to Receiver Information
FORMAT
6*35x (Narrative - Structured Format)
The following line format must be used:
Line 1 /8c/[additional information] Lines 2-6 [//continuation of additional information]
-or-[/8c/[additional information]]
PRESENCE
Optional in a conditional (C8) sequence
DEFINITION
This field specifies additional information for the Receiver and applies to the whole messages.
USAGE RULES
Only bilaterally agreed codes can be used in this field.
Each code used must be put between slashes and appear at the beginning of a line.
All alphabetic characters in a code must be in upper case.
Additional explanatory information, which may be continued on the next lines, is preceded by a double slash ’//’. Narrativetext that is not qualified by a code must start with a double slash ’//’ on a new line, and should preferably be the last infor-mation in this field.
Field 72 must not be used for information for which another field is intended.
The use of this field with unstructured text may require manual intervention and thus cause delay in automated systems.
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MT 321 Instruction to Settle a Third Party Loan/Deposit
Note: The use of this message type requires Message User Group (MUG) registration.
MT 321 ScopeThis message is sent by a fund manager to the fund’s custodian to advise the trade details and instruct the settlement of afixed term loan/deposit done with a third party financial institution.
The definition of third party must be agreed up front between the fund manager and the custodian relative to deals executedby the custodians’ treasury area on behalf of the fund manager.
This message is used to:
provide details about a new contract between the partiesprovide details of a rollover/renovation of a contract between the partiesprovide details of the maturity of a contractcancel a previously sent message.
MT 321 Format Specifications
MT 321 Instruction to Settle a Third Party Loan/Deposit
Status Tag Qualifier Generic Field Name
Detailed Field Name Content/Options No.
Mandatory Sequence A General Information
M 16R Start of Block GENL 1
----->
M 20C 4!c Reference (see qualifier description) :4!c//16x 2
-----|
M 23G Function of the Message 4!c[/4!c] 3
M 22H TLDE Indicator Type of Loan/Deposit Event
:4!c//4!c 4
----->Repetitive Optional Subsequence A1 Linkages
M 16R Start of Block LINK 5
O 13A LINK Number Identifi-cation
Linked Transaction :4!c//3!c 6
M 20C 4!c Reference (see qualifier description) :4!c//16x 7
M 16S End of Block LINK 8
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Status Tag Qualifier Generic Field Name
Detailed Field Name Content/Options No.
-----| End of Subsequence A1 Linkages
M 16S End of Block GENL 9
End of Sequence A General Information
Mandatory Sequence B Deposit Details
M 16R Start of Block LDDET 10
M 20C CONU Reference Contract Number Refer-ence
:4!c//16x 11
----->
M 22H 4!c Indicator (see qualifier description) :4!c//4!c 12
-----|
----->
M 98A 4!c Date (see qualifier description) :4!c//8!n 13
-----|
----->
M 19B 4!c Amount (see qualifier description) :4!c//3!a15d 14
-----|
M 92A INTR Rate Interest Rate :4!c//[N]15d 15
O 99B DAAC Number Count Number of Days Accrued :4!c//3!n 16
Mandatory Sequence B1 Loan/Deposit Parties 1
M 16R Start of Block LDPRTY1 17
M 95a LDCO Party Loan/Deposit Counter-party
P, Q or R 18
M 16S End of Block LDPRTY1 19
End of Sequence B1 Loan/Deposit Parties 1
Mandatory Sequence B2 Loan/Deposit Parties 2
M 16R Start of Block LDPRTY2 20
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Status Tag Qualifier Generic Field Name
Detailed Field Name Content/Options No.
O 95a INVE Party Investor P, Q or R 21
M 97A SAFE Account Safekeeping Account :4!c//35x 22
M 16S End of Block LDPRTY2 23
End of Sequence B2 Loan/Deposit Parties 2
M 16S End of Block LDDET 24
End of Sequence B Deposit Details
----->Repetitive Mandatory Sequence C Settlement Details
M 16R Start of Block SETDET 25
M 22H PRIT Indicator Principal and Interest :4!c//4!c 26
----->Repetitive Mandatory Subsequence C1 Settlement Parties
M 16R Start of Block SETPRTY 27
M 95a 4!c Party (see qualifier description) P, Q or R 28
O 97A CASH Account Cash Account :4!c//35x 29
O 70C PACO Narrative Party Contact Narrative :4!c//4*35x 30
M 16S End of Block SETPRTY 31
-----|End of Subsequence C1 Settlement Parties
M 16S End of Block SETDET 32
-----|End of Subsequence C Settlement Details
M = Mandatory O = Optional
MT 321 Network Validated RulesC1
In sequence B, the presence of the Currency and Amount to be Settled (field :19B::SETT) and the presence of the Next Interest Due Date (field :98A::INTR) depend on the Type of Loan/Deposit Event (field :22H::TLDE) in sequence A asfollows (Error code(s): C60):
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Sequence Aif field :22H::TLDE Indicator
is ...
Sequence Bthen field :19B::SETT is ...
Sequence Band field :98A::INTR is ...
CONF Not allowed Mandatory
MATU Mandatory Not allowed
ROLL Mandatory Mandatory
C2
In sequence B, the presence of the Last Day of the First Interest Period (field :98A::LDFP) depends on the value of the Indicator of Type of Loan/Deposit Event (field :22H::TLDE) as follows (Error code(s): C61):
Sequence Aif field :22H::TLDE Indicator is ...
Sequence Bthen field :98A::LDFP is ...
MATU Not allowed
Not MATU Optional
C3
In sequence B, the presence of the Number of Days Accrued (field :99B::DAAC) depends on the presence of the LastDay of the First Interest Period (field :98A::LDFP) as follows (Error code(s): C62):
Sequence Bif field :98A::LDFP is ...
Sequence Bthen field :99B::DAAC is ...
Present Mandatory
Not present Not allowed
C4
In each occurrence of sequence C, the following party fields for subsequence C1 cannot appear more than once (Errorcode(s): E84):
Subsequence C1
:95a::CDEA
:95a::INT2
:95a::INTE
:95a::ACCW
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Subsequence C1
:95a::BENM
C5
In each occurrence of sequence C, the following party fields must be present exactly once (Error code(s): C64):
Subsequence C1
:95a::ACCW
C6
One occurrence of sequence C must have the following value (Error code(s): E90):
:22H::PRIT//APFM
C7
One occurrence of sequence C must have the following value (Error code(s): E90):
:22H::PRIT//APCP
C8
In a message, the following sequence C fields cannot appear more than once (Error code(s): E92):
Sequence C
:22H::PRIT//APFM
:22H::PRIT//APCP
:22H::PRIT//IPFM
:22H::PRIT//IPCP
C9
The currency code in the amount fields (field 19B in Sequence B) must be the same for all occurrences of this field inthe message (Error code(s): C02).
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MT 321 Field Specifications
1. Field 16R: Start of Block
FORMAT
Option R 16c
PRESENCE
Mandatory
DEFINITION
This field specifies the start of a block and the name of that block.
CODES
This field must contain the following code (Error code(s): T92):
GENL General Information.
2. Field 20C: Reference
FORMAT
Option C :4!c//16x (Qualifier) (Reference)
PRESENCE
Mandatory
QUALIFIER
(Error code(s): T89)
Order M/O Qualifier R/N CR Options Qualifier Description
1 M SEME N C Sender’s Reference
2 O LDCR N C Deposit Common Reference
DEFINITION
This qualified generic field specifies:
LDCR This field contains the common reference of the MT 320 exchanged to confirm the fixed loan/deposit.
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SEME Reference assigned by the Sender to unambiguously identify the message.
NETWORK VALIDATED RULES
Reference must not start or end with a slash ’/’ and not contain two consecutive slashes ’//’ (Error code(s): T26).
USAGE RULES
With qualifier LDCR, the Reference subfield must follow the following structure:
Reference 4!a2!c4!n4!a2!c (Bank Code 1) (Location Code 1) (Reference Code) (BankCode 2) (Location Code 2)
The bank and location codes (from the ISO Bank Identifier Code) are those of the Sender and the Receiver of the MT 320exchanged between the fund manager and the counterparty to confirm the loan deposit. These codes must appear in alpha-betical order (letters take precedence over numbers).
Location Code 1 and Bank Code 2 are separated by four digits, which must consist of the rightmost non-zero digit of field37G in sequence B (of the related MT 320), preceded by the three digits to the left of it. If there are no digits to the left of it,the space must be zero filled.
3. Field 23G: Function of the Message
FORMAT
Option G 4!c[/4!c] (Function) (Sub-function)
PRESENCE
Mandatory
DEFINITION
This field identifies the function of the message.
CODES
Function must contain one of the following codes (Error code(s): T86):
CANC This is a request to cancel a previously sent instruction for a loan/deposit.
NEWM This is a new instruction for a loan/deposit.
CODES
Sub-function, when present, must contain one of the following codes:
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CODU This message is being sent as a copy, for information purposes and the message is a duplicate of amessage previously sent.
COPY The message is being sent as a copy, for information purposes.
DUPL The message is for information/confirmation purposes. It is a duplicate of a message previously sent.
USAGE RULES
To cancel a previously sent order to buy or sell, Function is CANC. The reference in the linkage sequence must contain theSender’s reference of the message to be cancelled. A copy of at least the mandatory fields of the message to be cancelledmust be present; optional fields need not be present for SWIFT validation.
4. Field 22H: Indicator: Type of Loan/Deposit Event
FORMAT
Option H :4!c//4!c (Qualifier) (Indicator)
PRESENCE
Mandatory
QUALIFIER
(Error code(s): T89)
Order M/O Qualifier R/N CR Options Qualifier Description
1 M TLDE N H Type of Loan/Deposit Event
DEFINITION
This qualified generic field specifies:
TLDE This field specifies the event in the life of the loan/deposit.
CODES
When Qualifier is TLDE, Indicator must contain one of the following codes (Error code(s): T19):
CONF This is an instruction to settle a first confirmation.
ROLL This is an instruction to settle a mutually agreed rollover/renewal with/without change in the principalamount and the interest to be settled or added/substracted from that amount.
MATU This is an instruction to settle a liquidation of a fixed loan/deposit.
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5. Field 16R: Start of Block
FORMAT
Option R 16c
PRESENCE
Mandatory in an optional sequence
DEFINITION
This field specifies the start of a block and the name of that block.
CODES
This field must contain the following code (Error code(s): T92):
LINK Linkages.
6. Field 13A: Number Identification: Linked Transaction
FORMAT
Option A :4!c//3!c (Qualifier) (Number Id)
PRESENCE
Optional
QUALIFIER
(Error code(s): T89)
Order M/O Qualifier R/N CR Options Qualifier Description
1 O LINK N A Linked Transaction
DEFINITION
This qualified generic field specifies:
LINK Type of transaction which is linked to this transaction.
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USAGE RULES
Number ID must contain the MT number of the linked transaction.
7. Field 20C: Reference
FORMAT
Option C :4!c//16x (Qualifier) (Reference)
PRESENCE
Mandatory in an optional sequence
QUALIFIER
(Error code(s): T89)
Order M/O Qualifier R/N CR Options Qualifier Description
1 M RELA N C Related Reference
or PREV N C Previous Reference
DEFINITION
This qualified generic field specifies:
PREV Reference of the linked message which was previously sent.
RELA Reference of the linked message which was previously received.
NETWORK VALIDATED RULES
Reference must not start or end with a slash ’/’ and not contain two consecutive slashes ’//’ (Error code(s): T26).
8. Field 16S: End of Block
FORMAT
Option S 16c
PRESENCE
Mandatory in an optional sequence
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DEFINITION
This field specifies the end of a block and the name of that block.
CODES
This field must contain the following code (Error code(s): T92):
LINK Linkages.
9. Field 16S: End of Block
FORMAT
Option S 16c
PRESENCE
Mandatory
DEFINITION
This field specifies the end of a block and the name of that block.
CODES
This field must contain the following code (Error code(s): T92):
GENL General Information.
10. Field 16R: Start of Block
FORMAT
Option R 16c
PRESENCE
Mandatory
DEFINITION
This field specifies the start of a block and the name of that block.
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CODES
This field must contain the following code (Error code(s): T92):
LDDET Loan/Deposit Details.
11. Field 20C: Reference: Contract Number Reference
FORMAT
Option C :4!c//16x (Qualifier) (Reference)
PRESENCE
Mandatory
QUALIFIER
(Error code(s): T89)
Order M/O Qualifier R/N CR Options Qualifier Description
1 M CONU N C Contract Number Reference
DEFINITION
This qualified generic field specifies:
CONU Reference of the contract number of the transaction from the point of view of the Sender, or of the institution/corporate on behalf of which the message is sent.
NETWORK VALIDATED RULES
Reference must not start or end with a slash ’/’ and not contain two consecutive slashes ’//’ (Error code(s): T26).
12. Field 22H: Indicator
FORMAT
Option H :4!c//4!c (Qualifier) (Indicator)
PRESENCE
Mandatory
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QUALIFIER
(Error code(s): T89)
Order M/O Qualifier R/N CR Options Qualifier Description
1 M DPLO N H Lender/Borrower Indicator
2 O MICO N H Method of Interest Computation Indicator
DEFINITION
This qualified generic field specifies:
DPLO This field indicates whether the Sender, or the institution/corporate on behalf of which the message issent is the borrower or the lender.
MICO This field specifies the number of days which are taken into account for the calculation of the interest.The Day Count Fraction as per ISDA definitions.
CODES
When Qualifier is DPLO, Indicator must contain one of the following codes:
BORR The Sender, or the institution/corporate on behalf of which the message is sent is the borrower(receives the principal amount and pays the interest).
LEND The Sender, or the institution/corporate on behalf of which the message is sent is the lender (pays the principal amount and receives the interest).
CODES
When Qualifier is MICO, Indicator must contain one of the following codes:
A001 ’30/360’, ’360/360’ or ’Bond Basis’.
A004 ’Actual/360’ (28-31/360).
A007 ’30E/360’ or ’Eurobond Basis’.
A008 ’Actual/365’ or ’Actual/Actual’ (28-31/365-6).
A009 ’Actual/365 (fixed)’ (28-31/365).
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13. Field 98A: Date
FORMAT
Option A :4!c//8!n (Qualifier) (Date)
PRESENCE
Mandatory
QUALIFIER
(Error code(s): T89)
Order M/O Qualifier R/N CR Options Qualifier Description
1 M TRAD N A Trade Date
2 M VALU N A Value Date
3 M MATU N A Maturity Date
4 O INTR N C1 A Next Interest Due Date
5 O LDFP N C2 A Last Day of First Interest Period
DEFINITION
This qualified generic field specifies:
INTR The date on which the next interest is due.
LDFP The last day of the first/next interest period.
MATU The latest agreed maturity date, ie, the date on which the principal is to be returned and the interest due.
TRAD The date on which the original deal or the rollover was agreed between the fund manager and its counterparty.
VALU The date on which the cash movement is to take place.
NETWORK VALIDATED RULES
Date must be a valid date expressed as YYYYMMDD (Error code(s): T50).
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14. Field 19B: Amount
FORMAT
Option B :4!c//3!a15d (Qualifier) (Currency Code) (Amount)
PRESENCE
Mandatory
QUALIFIER
(Error code(s): T89)
Order M/O Qualifier R/N CR Options Qualifier Description
1 M PRIN N B Principal Currency and Amount
2 O SETT N C1 B Currency and Amount to be Settled
3 O INTR N B Currency and Interest Amount
DEFINITION
This qualified generic field specifies:
INTR Currency and Interest Amount
PRIN Principal Currency and Amount The currency and contract amount, ie, the amount onwhich the interest is calculated.
SETT Currency and Amount to be Settled The total amount to be settled.
NETWORK VALIDATED RULES
The integer part of Amount must contain at least one digit. The decimal comma is mandatory and is included in themaximum length. The number of digits following the comma must not exceed the maximum allowed for the specifiedcurrency (Error code(s): C03, T40, T43).
Currency Code must be a valid ISO 4217 currency code (Error code(s): T52).
15. Field 92A: Rate: Interest Rate
FORMAT
Option A :4!c//[N]15d (Qualifier) (Sign) (Rate)
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PRESENCE
Mandatory
QUALIFIER
(Error code(s): T89)
Order M/O Qualifier R/N CR Options Qualifier Description
1 M INTR N A Interest Rate
DEFINITION
This qualified generic field specifies:
INTR Interest rate.
NETWORK VALIDATED RULES
The integer part of Rate must contain at least one digit. A decimal comma is mandatory and is included in the maximumlength (Error code(s): T40, T43).
When Sign is present, Rate must not be zero (Error code(s): T14).
USAGE RULES
Sign must only be used when Rate is negative.
16. Field 99B: Number Count: Number of Days Accrued
FORMAT
Option B :4!c//3!n (Qualifier) (Number)
PRESENCE
Optional
QUALIFIER
(Error code(s): T89)
Order M/O Qualifier R/N CR Options Qualifier Description
1 O DAAC N C3 B Number of Days Accrued.
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DEFINITION
This qualified generic field specifies:
DAAC This field specifies the number of days used for calculating the accrued interest amount, ie, thenumber of days between interest payments starting from the date specified in field 98a qualifier LDFP.
17. Field 16R: Start of Block
FORMAT
Option R 16c
PRESENCE
Mandatory
DEFINITION
This field specifies the start of a block and the name of that block.
CODES
This field must contain the following code (Error code(s): T92):
LDPRTY1 Loan/Deposit Parties 1
18. Field 95a: Party: Loan/Deposit Counterparty
FORMAT
Option P :4!c//4!a2!a2!c[3!c] (Qualifier) (BIC/BEI)Option R :4!c/8c/34x (Qualifier) (Data Source Scheme) (Proprietary Code)Option Q :4!c//4*35x (Qualifier) (Name & Address)
PRESENCE
Mandatory
QUALIFIER
(Error code(s): T89)
Order M/O Qualifier R/N CR Options Qualifier Description
1 M LDCO N P, R or Q Loan/deposit Counterparty
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DEFINITION
This qualified generic field specifies:
LDCO Loan/deposit Counterparty.
NETWORK VALIDATED RULES
The BIC/BEI must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
19. Field 16S: End of Block
FORMAT
Option S 16c
PRESENCE
Mandatory
DEFINITION
This field specifies the end of a block and the name of that block.
CODES
This field must contain the following code (Error code(s): T92):
LDPRTY1 Loan/Deposit Parties 1
20. Field 16R: Start of Block
FORMAT
Option R 16c
PRESENCE
Mandatory
DEFINITION
This field specifies the start of a block and the name of that block.
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CODES
This field must contain the following code (Error code(s): T92):
LDPRTY2 Loan/Deposit Parties 2
21. Field 95a: Party: Investor
FORMAT
Option P :4!c//4!a2!a2!c[3!c] (Qualifier) (BIC/BEI)Option R :4!c/8c/34x (Qualifier) (Data Source Scheme) (Proprietary Code)Option Q :4!c//4*35x (Qualifier) (Name & Address)
PRESENCE
Optional
QUALIFIER
(Error code(s): T89)
Order M/O Qualifier R/N CR Options Qualifier Description
1 O INVE N P, R or Q Investor
DEFINITION
This qualified generic field specifies:
INVE Investor.
NETWORK VALIDATED RULES
The BIC/BEI must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
22. Field 97A: Account: Safekeeping Account
FORMAT
Option A :4!c//35x (Qualifier) (Account Number)
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PRESENCE
Mandatory
QUALIFIER
(Error code(s): T89)
Order M/O Qualifier R/N CR Options Qualifier Description
1 M SAFE N A Safekeeping Account
DEFINITION
This qualified generic field specifies:
SAFE Safekeeping account.
USAGE RULES
This field contains the safekeeping account that the fund keeps with the custodian.
23. Field 16S: End of Block
FORMAT
Option S 16c
PRESENCE
Mandatory
DEFINITION
This field specifies the end of a block and the name of that block.
CODES
This field must contain the following code (Error code(s): T92):
LDPRTY2 Loan/Deposit Parties 2
24. Field 16S: End of Block
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FORMAT
Option S 16c
PRESENCE
Mandatory
DEFINITION
This field specifies the end of a block and the name of that block.
CODES
This field must contain the following code (Error code(s): T92):
LDDET Loan/Deposit Details
25. Field 16R: Start of Block
FORMAT
Option R 16c
PRESENCE
Mandatory
DEFINITION
This field specifies the start of a block and the name of that block.
CODES
This field must contain the following code (Error code(s): T92):
SETDET Settlement Details.
26. Field 22H: Indicator: Principal and Interest
FORMAT
Option H :4!c//4!c (Qualifier) (Indicator)
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PRESENCE
Mandatory
QUALIFIER
(Error code(s): T89)
Order M/O Qualifier R/N CR Options Qualifier Description
1 M PRIT N C6, C7, C8 H Principal and Interest
DEFINITION
This qualified generic field specifies:
PRIT Settlement Instructions for Principal and Interests Amounts
CODES
When Qualifier is PRIT, Indicator must contain one of the following codes (Error code(s): T19):
APCP Settlement Instructions for Amounts Payable by the Loan/Deposit Counterparty.
APFM Settlement Instructions for Amounts Payable by the Investor.
IPCP Settlement Instructions for Interests Payable by the Loan/Deposit Counterparty.
IPFM Settlement Instructions for Interests Payable by the Investor.
27. Field 16R: Start of Block
FORMAT
Option R 16c
PRESENCE
Mandatory
DEFINITION
This field specifies the start of a block and the name of that block.
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CODES
This field must contain the following code (Error code(s): T92):
SETPRTY Settlement Parties.
28. Field 95a: Party
FORMAT
Option P :4!c//4!a2!a2!c[3!c] (Qualifier) (BIC/BEI)Option Q :4!c//4*35x (Qualifier) (Name & Address)Option R :4!c/8c/34x (Qualifier) (Data Source Scheme) (Proprietary Code)
PRESENCE
Mandatory
QUALIFIER
(Error code(s): T89)
Order M/O Qualifier R/N CR Options Qualifier Description
1 M CDEA N C4 P, Q, R Cash Delivery Agent
Or INT2 N C4 P, Q, R Second intermediary
Or INTE N C4 P, Q, R Intermediary
Or ACCW N C4, C5 P, Q, R Account With Institution
Or BENM N C4 P, Q, R Beneficiary of Money
DEFINITION
The qualifiers are listed in the general order of occurrence. This qualified generic field specifies:
CDEA Cash Delivery Agent The financial institution from which the funds will be transferred.
INT2 Second intermediary The second intermediary institution for the transfer of the funds.
INTE Intermediary The first intermediary institution for the transfer of the funds.
ACCW Account With Institution The institution to which the payment is to be made in favour of the bene-ficiary of money.
BENM Beneficiary of Money The institution in favour of which the payment is done.
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BIC specifies the Bank Identifier Code. BEI specifies the Business Entity Identifier.
Proprietary Code specifies a local national code or market segment code identifying the party.
NETWORK VALIDATED RULES
The BIC/BEI must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
If Qualifier is CDEA, INT2, INTE or ACCW, the BIC must not be a BEI, must not be of type BEID, MCCO, TESP orTRCO (Error code(s): C05).
29. Field 97A: Account: Cash Account
FORMAT
Option A :4!c//35x (Qualifier) (Account Number)
PRESENCE
Optional
QUALIFIER
(Error code(s): T89)
Order M/O Qualifier R/N CR Options Qualifier Description
1 O CASH N A Cash Account
DEFINITION
This qualified generic field specifies:
CASH Cash Account Account from/to which a payment is to be made and which is held by the party specified in this sequence.
30. Field 70C: Narrative: Party Contact Narrative
FORMAT
Option C :4!c//4*35x (Qualifier) (Narrative)
PRESENCE
Optional
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QUALIFIER
(Error code(s): T89)
Order M/O Qualifier R/N CR Options Qualifier Description
1 O PACO N C Party Contact Narrative
DEFINITION
This qualified generic field specifies:
PACO Party Contact Narrative
Narrative description of the contact unit or person responsible for the transaction atthe party defined within the party block.
31. Field 16S: End of Block
FORMAT
Option S 16c
PRESENCE
Mandatory
DEFINITION
This field specifies the end of a block and the name of that block.
CODES
This field must contain the following code (Error code(s): T92):
SETPRTY Settlement Parties.
32. Field 16S: End of Block
FORMAT
Option S 16c
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PRESENCE
Mandatory
DEFINITION
This field specifies the end of a block and the name of that block.
CODES
This field must contain the following code (Error code(s): T92):
SETDET Settlement Details.
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MT 330 Call/Notice Loan/Deposit Confirmation
MT 330 ScopeThis message is exchanged to confirm a call/notice loan/deposit contract.
The message is used to confirm/notify the details of:
a new contract between the partiesan amendment to a previously agreed contractthe cancellation of a confirmationan increase or decrease in the balance of the account, in an already agreed contracta change in the interest ratea change in the period of noticethe closing of a contract, ie, final redemption of the loan/deposit balance to zero and all interest paid.
This message is sent by or on behalf of the institution or corporate, party A and party B, who have agreed to a call/noticeloan/deposit contract.
Party A and party B are the legal entities which have agreed to the transaction.
Party A is either:
the Sender, orthe institution/corporate on behalf of which the message is sent,
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Party B is either:
the Receiver, orthe institution/corporate on behalf of which the message is received.
MT 330 Format SpecificationsThe MT 330 consists of seven sequences:
Sequence A General Information contains general information about the call/notice loan/deposit as well as about the confirmation itself.Sequence B Transaction Details contains information about the transaction.Sequence C Settlement Instructions for Amounts Payable by Party A provides the instructions for the amounts payableby party A.Sequence D Settlement Instructions for Amounts Payable by Party B provides the instructions for the amounts payableby party B.Sequence E Settlement Instructions for Interests Payable by Party A provides the instructions for the interest payableby party A.Sequence F Settlement Instructions for Interests Payable by Party B provides the instructions for the interest payableby party B.Sequence G Tax Information contains information on the tax regime.Sequence H Additional Information provides information which is not match-critical.
MT 330 Call/Notice Loan/Deposit Confirmation
Status Tag Field Name Content/Options No.
Mandatory Sequence A General Information
M 15A New Sequence (CrLf) 1
M 20 Sender’s Reference 16x 2
O 21 Related Reference 16x 3
M 22A Type of Operation 4!c 4
O 94A Scope of Operation 4!c 5
M 22B Type of Event 4!c 6
M 22C Common Reference 4!a2!c4!n4!a2!c 7
O 21N Contract Number Party A 16x 8
M 82a Party A A, D or J 9
M 87a Party B A, D or J 10
O 83a Fund or Instructing Party A, D or J 11
O 77D Terms and Conditions 6*35x 12
Mandatory Sequence B Transaction Details
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Status Tag Field Name Content/Options No.
M 15B New Sequence (CrLf) 13
M 17R Party A’s Role 1!a 14
M 30T Trade Date 8!n 15
M 30V Value Date 8!n 16
M 38A Period of Notice 3n 17
O 32B Currency and Balance 3!a15d 18
O 32H Amount to be Settled [N]3!a15d 19
O 30X Interest Due Date 8!n 20
O 34E Currency and Interest Amount [N]3!a15d 21
M 37G Interest Rate [N]12d 22
M 14D Day Count Fraction 7x 23
O 30F Last Day of the Next Interest Period 8!n 24
O 38J Number of Days 1!a3!n 25
Mandatory Sequence C Settlement Instructions for Amounts Payable by Party A
M 15C New Sequence (CrLf) 26
O 53a Delivery Agent A, D or J 27
O 86a Intermediary 2 A, D or J 28
O 56a Intermediary A, D or J 29
M 57a Receiving Agent A, D or J 30
O 58a Beneficiary Institution A, D or J 31
Mandatory Sequence D Settlement Instructions for Amounts Payable by Party B
M 15D New Sequence (CrLf) 32
O 53a Delivery Agent A, D or J 33
O 86a Intermediary 2 A, D or J 34
O 56a Intermediary A, D or J 35
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Status Tag Field Name Content/Options No.
M 57a Receiving Agent A, D or J 36
O 58a Beneficiary Institution A, D or J 37
Optional Sequence E Settlement Instructions for Interests Payable by Party A
M 15E New Sequence (CrLf) 38
O 53a Delivery Agent A, D or J 39
O 86a Intermediary 2 A, D or J 40
O 56a Intermediary A, D or J 41
M 57a Receiving Agent A, D or J 42
O 58a Beneficiary Institution A, D or J 43
Optional Sequence F Settlement Instructions for Interests Payable by Party B
M 15F New Sequence (CrLf) 44
O 53a Delivery Agent A, D or J 45
O 86a Intermediary 2 A, D or J 46
O 56a Intermediary A, D or J 47
M 57a Receiving Agent A, D or J 48
O 58a Beneficiary Institution A, D or J 49
Optional Sequence G Tax Information
M 15G New Sequence (CrLf) 50
M 37L Tax Rate 12d 51
M 33B Transaction Currency and Net Interest Amount 3!a15d 52
O 36 Exchange Rate 12d 53
O 33E Reporting Currency and Tax Amount 3!a15d 54
Optional Sequence H Additional Information
M 15H New Sequence (CrLf) 55
O 29A Contact Information 4*35x 56
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Status Tag Field Name Content/Options No.
O 24D Dealing Method 4!c[/35x] 57
O 84a Dealing Branch Party A A, B, D or J 58
O 85a Dealing Branch Party B A, B, D or J 59
O 26H Counterparty’s Reference 16x 60
O 72 Sender to Receiver Information 6*35x 61
M = Mandatory O = Optional
MT 330 Network Validated RulesC1
In sequence A, the presence of field 21 depends on the value of fields 22B and 22A as follows (Error code(s): D70):
Sequence Aif field 22B is...
Sequence Aand if field 22A is...
Sequence Athen field 21 is...
CONF NEWT Optional
CONF Not equal NEWT Mandatory
Not equal CONF Any value Mandatory
C2
In sequence A, if field 94A is present and contains AGNT, then field 21N in sequence A is mandatory, otherwise field21N is optional (Error code(s): D72):
Sequence Aif field 94A is...
Sequence Athen field 21N is...
AGNT Mandatory
BILA Optional
Not present Optional
C3
In sequence B, the presence of fields 32B, 32H and 30X depends on the value of field 22B in sequence A as follows(Error code(s): D56):
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Sequence Aif field 22B is...
Sequence Bthen field 32B is...
Sequence B and field32H is...
Sequence B and field30X is...
CHNG Mandatory Mandatory Optional
CINT Mandatory Mandatory Optional
CONF Mandatory Not allowed Not allowed
SETT Not allowed Mandatory Mandatory
C4
In sequence B, the values allowed for field 32H depend on the values of fields 22B in sequence A and 17R in sequenceB as follows (Error code(s): D57):
Sequence Aif field 22B is...
Sequence B and field 17R is... Sequence Bthen field 32H (Amount) must
be...
SETT L Negative or zero (*)
SETT B Positive or zero (*)
Not equals SETT Not applicable Not applicable
(*) The presence of the letter N (Sign) in subfield 1 of field 32H specifies a negative amount.
The absence of the letter N (Sign) in subfield 1 of field 32H specifies a positive amount.
If subfield 3 (Amount) of field 32H = 0 (i.e. zero value), then the letter N (Sign) in subfield 1 of field 32H is notallowed (Error code(s): T14).
Note: Rule C3 (Error code(s): D56) describes the conditions of the presence of field 32H.
C5
In sequence B, if field 30X is present, then field 34E in sequence B is mandatory, otherwise field 34E is not allowed(Error code(s): D85):
Sequence Bif field 30X is...
Sequence Bthen field 34E is...
Present Mandatory
Not present Not allowed
C6
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In sequence A, if field 22B contains SETT, then field 30F in sequence B is not allowed, otherwise field 30F is optional(Error code(s): D69).
Sequence Aif field 22B is...
Sequence Bthen field 30F is...
SETT Not allowed
Not equal SETT Optional
C7
In sequence B, if field 30F is present, then field 38J in sequence B is mandatory, otherwise field 38J is not allowed(Error code(s): D60).
Sequence Bif field 30F is...
Sequence Bthen field 38J is...
Present Mandatory
Not present Not allowed
C8
In sequences C, D, E (if present) and F (if present), if field 56a is not present, then field 86a in the same sequence C, D,E or F is not allowed, otherwise field 86a is optional (Error code(s): D35).
Sequence Cif field 56a is...
Sequence Cthen field 86a is
Not present Not allowed
Present Optional
Sequence Dif field 56a is...
Sequence Dthen field 86a is...
Not present Not allowed
Present Optional
Sequence Eif field 56a is...
Sequence Ethen field 86a is...
Not present Not allowed
Present Optional
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Sequence Fif field 56a is...
Sequence Fthen field 86a is...
Not present Not allowed
Present Optional
C9
The currency code in the amount fields must be the same for all occurrences of these fields in the entire message,except for fields 33B and 33E in sequence G (Error code(s): C02).
C10
In sequence H, field 15H may not be the only field, ie, if field 15H is present then at least one of the other fields ofsequence H must be present (Error code(s): C98).
MT 330 Usage RulesThe following guidelines apply when sending/exchanging an MT 330:
For the actual transfer of funds or the confirmation of credits and debits, other messages outside Category 3 are avail-able, such as the MTs 202/203/205, Financial Institution Transfer messages and the MTs 900/910/950, Confirmation ofDebit/Credit and Statement messages, respectively.
In all cases, the common reference of the MT 330 must be quoted in the relevant reference field, ie, field 21 of the MTs202, 203, 205.
If the underlying contract is amended/cancelled on a bilateral basis, this should be agreed upon by a bilateral exchangeof confirmations with either code AMND or CANC, respectively.To cancel a previously sent message (field 22A is CANC):
field 21 must contain the reference (ie, the content of field 20) of the message containing the instruction to be cancelledthe cancellation message must contain a copy of at least the mandatory fields of the original message.
Sending an MT 330 with code word CANC in field 22A, cancels both the underlying contract and the previously sent confirmation message as referred to in field 21 Related Reference.To amend a previously sent message (field 22A is AMND):
field 21 must contain the reference (ie, the content of field 20) of the message containing the instruction to be amendedthe amendment message must contain both the unchanged and the changed/new fields of the original messagethe amendment message replaces the original message.
The sequence E Settlement Instructions for Interests Payable by Party A should only be used when the instructions inthis sequence are different from the instructions in sequence C Settlement Instructions for Amounts Payable by Party A.The sequence F Settlement Instructions for Interests Payable by Party B should only be used when the instructions inthis sequence are different from the instructions in sequence D Settlement Instructions for Amounts Payable by Party B.When a new deal is confirmed, the complete settlement instructions of both parties (Sequences C and D) are exchangedand matched. Any further message relative to this deal should repeat those settlement instructions. Payments resultingfrom a movement will be triggered by the content of field 32H (direction of the transfer) and field 30V (value date).Advice of an interest payment for an MT 330 is indicated by an MT 350 sent by the payer and an MT 330 should notbe sent to indicate that the Sender expects to receive an interest payment from the Receiver.The tables below show how the different amount fields involved in the deal can be indicated.
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Unless specifically mentioned, the presence of the fields mentioned in those tables is mandatory for the different situa-tions described
The conditional rules applying to a specific field are indicated next to that field.
Example of a Deposit (Party A is the Lender), the table is presented from Party A’s point of view, the interest rate is positive.
Interest can be transferred at the time of a change of interest or principal, and in that case, the information relative to thatpayment is mentioned in fields 30X and 34E
Fields New Contract InterestChange No
Other Change
Increase of Prin-cipal
Decrease of Principal
Settlement
22B CONF CINT CHNG CHNG SETT
17R L L L L L
32B (C3) Balance Balance New Balance New Balance Not allowed
32H (C3) Not allowed Amount equals 0
Increase Amount***
Decrease Amountpreceded by Negative Sign N***
Final Balance precededby Negative Sign N**
30X (C3) Not allowed Optional Inter-est Payment Date
Optional InterestPayment Date
Optional InterestPayment Date
Settlement Date
34E (C5) Not allowed Optional Inter-est Amount Duepreceded by Negative Sign N
Optional InterestAmount Duepreceded by Negative Sign N
Optional InterestAmount Duepreceded by Negative Sign N
Last Interest Amountpreceded by NegativeSign N*
Note: * Calculated for the period between last payment date and settlement date.
** Final Balance equals field 32B (Balance) of the previous confirmation (last movement before settlement) plus the Last Interest Amount when both amounts are transferred in one single cash flow.
*** It is recommended not to include the Interest Amount with the increase or the decrease of the Principal Amount as it normally does not belong to the same cash flow.
Example of a Loan (Party A is the Borrower), the table is presented from Party A’s point of view, the interest rate is positive.
Fields New Contract InterestChange No
Other Change
Increase of Prin-cipal
Decrease of Principal
Settlement
22B CONF CINT CHNG CHNG SETT
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Fields New Contract InterestChange No
Other Change
Increase of Prin-cipal
Decrease of Principal
Settlement
17R B B B B B
32B (C3) Balance Balance New Balance New Balance Not allowed
32H (C3) Not allowed Amount equals 0
Increase Amountpreceded by Negative Sign N***
Decrease Amount***
Final Balance**
30X (C3) Not allowed Optional Inter-est Payment Date
Optional InterestPayment Date
Optional InterestPayment Date
Settlement Date
34E (C5) Not allowed Optional Inter-est Amount Due
Optional InterestAmount Due
Optional InterestAmount Due
Last Interest Amount*
Note: * Calculated for the period between last payment date and settlement date.
** Final Balance equals field 32B (Balance) of the previous confirmation (last movement before settlement) plus the Last Interest Amount when both amounts are transferred in one single cash flow.
*** It is recommended not to include the Interest Amount with the increase or the decrease of the Principal Amount as it normally does not belong to the same cash flow.
MT 330 GuidelinesThe MT 392 can also be used for cancellation. The following issues however, have to be considered:
Acknowledgement: by sending the MT 392, the sender requests the receiver to cancel the confirmation previously sent.The receiver must acknowledge the request by sending an MT 396 back to the sender of the MT 392.Routing: the MT 392 might not be routed to the same destination as the MT 330 to be cancelled.Repetition of the original message: in the MT 392, only the sender’s reference of the previous message is mandatory,all other fields are optional. When an MT 330 with CANC is used, the fields to be copied are mandated by the stan-dard.
Settlement Details
The table below shows how the different settlement parties involved in the deal can be identified. The table is presentedfrom party A’s point of view.
Whenever possible, users should use option A to identify institutions in these fields. Use of free text, ie, option D, exceptwhen used to specify recognized code words, is strongly discouraged. Option D not only precludes party B from matchingand further processing the message automatically but also is contrary to the message text standards which state that option Dis only to be used when no other option is available.
Option J is only used when exchanging messages with fund managers.
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Normally, the beneficiary is party A for the amount bought and party B for the amount sold. If party A or party B forwardsthe funds to an ultimate beneficiary institution, this institution is included in field 58a.
Party A services account of party B. No separate settlement messages are sent.
Party A will RECEIVE funds from Party B Party A will PAY funds to Party B
Party A will debit party B’s account Party A will credit party B’s account
:53a: not used :53a: not used
:86a: not used :86a: not used
:56a: not used :56a: not used
:57a:[/account no of party B]party A
:57a:[/account no of party B]party A
Party B services account of party A. No separate settlement messages are sent.
Party A will RECEIVE funds from Party B Party A will PAY funds to Party B
Party B will credit party A’s account Party B will debit party A’s account
:53a: not used :53a: not used
:86a: not used :86a: not used
:56a: not used :56a: not used
:57a:[/account no of party A]party B
57a:[/account no of party A]party B
Beneficiary’s account serviced by a financial institution other than party A or party B. The payer sends an MT 202 toits correspondent who will then send an MT 205 or equivalent to the correspondent of the payee. The correspondentcan be a branch of the party
Party A will RECEIVE funds from Party B Party A will PAY funds to Party B
Credit to party A’s account with that financial institution
Credit to party B’s account with that financial insti-tution
[:53a: Correspondent of party B] [:53a: Correspondent of party A]
:86a: not used :86a: not used
:56a: not used :56a: not used
:57a:[/account no of party A]correspondent of party A
:57a:[/account no of party B]correspondent of party B
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Beneficiary receives the funds through another institution (eg, BANK x for party x).
The payer sends an MT 202 to its correspondent. The correspondent will then send an MT 205 or equivalent to the correspondent of BANK x, ie, CORR x. CORR x will then send an MT 202 to BANK x who will then send an MT 950to party x.
Field 56a identifies where BANK x will receive the funds.
Party A will RECEIVE funds from Party B Party A will PAY funds to Party B
BANK A will receive the funds for party A BANK B will receive the funds for party B
[:53a:Correspondent of party B] [:53a:Correspondent of party A]
:86a: not used :86a: not used
:56a:[/account no of BANK A]CORR A
:56a:[/account no of BANK B]CORR B
:57a:[/account no of party A]BANK A
:57a:[/account no of party B]BANK B
Beneficiary receives the funds through another institution (eg, BANK x for party x), the correspondent of BANK x,CORR x also uses a correspondent.
The payer sends an MT 202 to its correspondent. The correspondent will then send an MT 205 or equivalent to the correspondent of CORR x. The correspondent of CORR x will then send an MT 202 to CORR x. CORR x will thensend an MT 202 to BANK x who will then send an MT 950 to party x.
Field 86a identifies where CORR x will receive the funds.
Field 56a identifies the correspondent of BANK x.
Party A will RECEIVE funds from Party B Party A will PAY funds to Party B
BANK A will receive the funds for party A viaCORR A
BANK B will receive the funds for party B viaCORR B
[:53a:Correspondent of party B] [:53a:Correspondent of party A]
:86a:[/account of CORR A]correspondent of CORR A
:86a:[/account no of CORR B]correspondent of CORR B
:56a:[/account no of BANK A]CORR A
:56a:[/account no of BANK B]CORR B
:57a:[/account no of partyA]BANK A
:57a:[/account no of party B]BANK B
Beneficiary to receive the funds directly through a clearing system.
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The payer sends an MT 202 to its correspondent who will then send an MT 202 the payee.
Party A will RECEIVE funds from Party B Party A will PAY funds to Party B
Party A will receive the funds through clearing Party B will receive the funds through clearing
[:53a:Correspondent of party B] [:53a:Correspondent of party A]
:86a: not used :86a: not used
:56a: not used :56a: not used
:57a:/CLEARparty A
:57a:/CLEARparty B
The counterparties use their standing settlement instructions.
Party A will RECEIVE funds from Party B Party A will PAY funds to Party B
:53a: not used :53a: not used
:86a: not used :86a: not used
:56a: not used :56a: not used
:57D:SSI :57D:SSI
The payment flows are netted based on a bilateral agreement.
Party A will RECEIVE funds from Party B Party A will PAY funds to Party B
:53a: not used :53a: not used
:86a: not used :86a: not used
:56a: not used :56a: not used
:57D:NET :57D:NET
The settlement details are not known at the time the confirmation is issued.
Party A will RECEIVE funds from Party B Party A will PAY funds to Party B
:53a: not used :53a: not used
:86a: not used :86a: not used
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Party A will RECEIVE funds from Party B Party A will PAY funds to Party B
:56a: not used :56a: not used
:57D:UNKNOWN :57D:UNKNOWN
Note: It is only necessary to quote an account number when multiple accounts are serviced for the same institution.
MT 330 Field Specifications
1. Field 15A: New Sequence
FORMAT
Option A Empty field
PRESENCE
Mandatory
DEFINITION
This field specifies the start of mandatory sequence A General Information.
USAGE RULES
Only the field tag must be present, the field is empty.
2. Field 20: Sender’s Reference
FORMAT
16x (Reference)
PRESENCE
Mandatory
DEFINITION
This field specifies the reference assigned by the Sender to unambiguously identify the message.
NETWORK VALIDATED RULES
This field must not start or end with a slash ’/’ and must not contain two consecutive slashes ’//’ (Error code(s): T26).
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USAGE RULES
The reference assigned to a message is used for cross-referencing purposes in subsequent messages, such as following confirmation and statement messages as well as queries. It is therefore essential for the identification of the original messagesent that this reference be unique.
3. Field 21: Related Reference
FORMAT
16x (Reference)
PRESENCE
Conditional (C1)
DEFINITION
This field contains the identification of the message to which the current message is related.
NETWORK VALIDATED RULES
This field must not start or end with a slash ’/’ and must not contain two consecutive slashes ’//’ (Error code(s): T26).
USAGE RULES
When used, this field must contain the Sender’s reference (field 20) of the previous confirmation which is to be amended,cancelled, duplicated or the reference of the message to which the change or the closing/settlement applies.
4. Field 22A: Type of Operation
FORMAT
Option A 4!c (Function)
PRESENCE
Mandatory
DEFINITION
This field specifies the function of the message.
CODES
Function must contain one of the following codes (Error code(s): T36):
AMND Replaces a previously sent message with the amended one contained in this message.Used to add settlement agents to an MT 330 previously sent-or-to correct error(s) in an MT 330 previously sent.
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CANC Cancels a previously sent message.Used to cancel an MT 330 previously sent-or-to cancel an MT 330 which contains erroneous information.
DUPL Duplicates an already sent confirmation.
NEWT New confirmation.Used to send the MT 330 for the first time-or-to send a corrected MT 330 when the erroneous one was cancelled using an MT 330 with function CANC.
USAGE RULES
As the amend message replaces the previously sent confirmation, it must contain both the amended fields and the fieldswhich are not changed.
When the cancel function is used, the message must reconfirm at least the mandatory fields of the original transaction.
Please refer to further guidelines under field 22B, Type of Event.
An amendment or cancellation always refers to the previous confirmation identified in field 21 of this message.
5. Field 94A: Scope of Operation
FORMAT
Option A 4!c (Scope)
PRESENCE
Optional
DEFINITION
This field specifies the role of the Sender and the Receiver of the message in the conclusion of the confirmed trade.
CODES
Scope must contain one of the following codes (Error code(s): T36):
AGNT Sender/Receiver is sending/receiving the message on behalf of a third party.
BILA Bilateral confirmation, ie, Sender and Receiver are the principals.
USAGE RULES
The absence of this field means that the Sender and the Receiver are the principals.
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AGNT is used when the confirmation has been sent or received on behalf of a separate legal party and that party has donethe deal.
6. Field 22B: Type of Event
FORMAT
Option B 4!c (Type)
PRESENCE
Mandatory
DEFINITION
This field specifies the event in the life of the loan/deposit.
CODES
Type must contain one of the following codes (Error code(s): T93):
CHNG This confirms agreed changes to the principal (decrease or increase) or to the period of notice.
CINT This message informs about an interest rate change.
CONF This is a first confirmation.
SETT This is a confirmation of the closing of a contract, ie, a final reduction of the loan/deposit balance tozero and all interest paid.
USAGE RULES
When a change of interest occurs together with another change, eg, the change of the principal, it is recommended to sendtwo separate confirmations.
When the confirmation of a loan/deposit is sent for the first time, CONF is used with field 22A = NEWT. To amend orcancel this confirmation, CONF is still used and field 22A must contain either AMND or CANC.
When a change of the interest rate is confirmed for the first time, CINT is used with field 22A = NEWT. To amend orcancel this change, CINT is still used and field 22A must contain either AMND or CANC.
For any bilaterally agreed change of deal terms (increase or decrease of balance, change of period of notice) confirmed forthe first time, CHNG is used with field 22A = NEWT. To amend or cancel these changes, CHNG is still used and field 22Amust contain either AMND or CANC.
When the loan/deposit is closed out, SETT is used with field 22A = NEWT. To amend or cancel this closing message,SETT is still used and field 22A must contain either AMND or CANC.
As an overview: the right sequence of using the code words in the life cycle of the deal is:
1. Start of the loan/deposit:
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NEWT/CONF (mandatory) followed by:AMND/CONF (optional)or CANC/CONF (optional)
2. Changes to interest rate/balance/period of notice (the following are repeated as often as needed during the life of the loan/deposit)
NEWT/CINT (mandatory for a change of interest rate) followed by:AMND/CINT (optional)or CANC/CINT (optional)
OR
NEWT/CHNG (mandatory for a change of balance or period of notice) followed by:AMND/CHNG (optional)or CANC/CHNG(optional)
3. Termination of the loan/deposit:
NEWT/SETT (mandatory) followed by:AMND/SETT (optional)or CANC/SETT (optional)
7. Field 22C: Common Reference
FORMAT
Option C 4!a2!c4!n4!a2!c (Bank Code 1) (Location Code 1) (Reference Code) (BankCode 2) (Location Code 2)
PRESENCE
Mandatory
DEFINITION
This field contains a reference common to both the Sender and the Receiver.
NETWORK VALIDATED RULES
This field consists of the bank and location codes (Error code(s): T95) (from the ISO Bank Identifier Code) of both theSender and the Receiver of the MT 330. These codes must appear in alphabetical order (letters take precedence overnumbers) (Error code(s): T96).
Location Code 1 and Bank Code 2 are separated by four digits, which must consist of the rightmost non-zero digit of field37G in sequence B, preceded by the three digits to the left of it. If there are no digits to the left of it, the space must be zerofilled (Error code(s): T22).
8. Field 21N: Contract Number Party A
FORMAT
Option N 16x
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PRESENCE
Conditional (C2)
DEFINITION
This field specifies the contract number of the transaction from party A’s viewpoint.
USAGE RULES
This field must remain the same throughout the whole life of the transaction. It is used by party A to link the rollover or maturity to the original transaction.
9. Field 82a: Party A
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC/BEI)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Mandatory
DEFINITION
This field identifies party A.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC/BEI or UKWN if BIC/BEI not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/ O followed by a clearing code
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M = Mandatory O = Optional
NETWORK VALIDATED RULES
The BIC/BEI must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
USAGE RULES
For matching purposes, option A must be used when available.
Party A is either:
the sender :94A:BILA, or,the institution or corporate on whose behalf the message is sent :94A:AGNT.
When the Sender is a fund manager, the fund manager is specified in this field.
Please refer to the Scope for this MT.
10. Field 87a: Party B
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC/BEI)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Mandatory
DEFINITION
This field identifies party B.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC/BEI or UKWN if BIC/BEI not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
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/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/ O followed by a clearing code
M = Mandatory O = Optional
NETWORK VALIDATED RULES
The BIC/BEI must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
USAGE RULES
For matching purposes, option A must be used when available.
Party B is either:
the receiver :94A:BILA, or,the institution or corporate on whose behalf the message is received :94A:AGNT.
When the Receiver is a fund manager, the fund manager is specified in this field.
Please refer to the Scope for this MT.
11. Field 83a: Fund or Instructing Party
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC/BEI)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Optional
DEFINITION
This field identifies the account information for party A, the underlying fund or instructing institution.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ O followed by the BIC/BEI or UKWN if BIC/BEI not known
/ACCT/ O followed by the account number
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/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/ O followed by a clearing code
M = Mandatory O = Optional
NETWORK VALIDATED RULES
The BIC/BEI must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
USAGE RULES
When the message is sent or received by a fund manager, this field specifies the fund. The fund manager is specified respec-tively in either field 82a or field 87a.
For matching purposes, option A must be used when available.
12. Field 77D: Terms and Conditions
FORMAT
Option D 6*35x (Narrative)
PRESENCE
Optional
DEFINITION
This field specifies the underlying legal agreement.
CODES
Narrative may contain one of the following codes:
/FIDU/ The trade is a fiduciary.
/WITH/ Withholding taxes apply.
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USAGE RULES
This field may refer to master agreements; it may also refer to local regulations or specific conditions applicable to the trade.
If this field is not present, the deal conforms either to bilateral agreements or to usual banking practices.
The absence of the codes /WITH/ and/or /FIDU/ does not mean that withholding taxes do not apply or that the trade is theresult of proprietary trading, it only means that the information is not relevant for the Receiver.
13. Field 15B: New Sequence
FORMAT
Option B Empty field
PRESENCE
Mandatory
DEFINITION
This field specifies the start of mandatory sequence B Transaction Details.
USAGE RULES
Only the field tag must be present, the field is empty.
14. Field 17R: Party’s A Role
FORMAT
Option R 1!a (Indicator)
PRESENCE
Mandatory
DEFINITION
This field specifies whether party A is the borrower or the lender.
CODES
Indicator must contain one of the following codes (Error code(s): T67):
B Borrower: party A receives the principal amount and pays the interest.
L Lender: party A pays the principal amount and receives the interest.
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15. Field 30T: Trade Date
FORMAT
Option T 8!n (Date)
PRESENCE
Mandatory
DEFINITION
This date specifies the date the original deal was agreed between party A and party B or the date of any subsequent agreed change.
NETWORK VALIDATED RULES
Date must be a valid date expressed as YYYYMMDD (Error code(s): T50).
USAGE RULES
The trade date remains the same when a confirmation is amended (corrected/completed) unilaterally. When the terms of thedeal are renegotiated on a bilateral basis, the trade date reflects the date of renegotiation in the message.
16. Field 30V: Value Date
FORMAT
Option V 8!n (Date)
PRESENCE
Mandatory
DEFINITION
This date specifies for
a new trade (22B=CONF), the start date
a change (22B=CHNG or CINT), the effective date of the change
the settlement (22B=SETT), the value date of the closing.
NETWORK VALIDATED RULES
Date must be a valid date expressed as YYYYMMDD (Error code(s): T50).
USAGE RULES
When cancelling (22A=CANC), this date should contain the same date as the cancelled confirmation.
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17. Field 38A: Period of Notice
FORMAT
Option A 3n (Period)
PRESENCE
Mandatory
DEFINITION
This field specifies the notice period in number of days.
18. Field 32B: Currency and Balance
FORMAT
Option B 3!a15d (Currency) (Amount)
PRESENCE
Conditional (C3)
DEFINITION
This field specifies the balance on which interests in the following interest period will be calculated. For a new confirmation(22B=CONF), this amount has to be settled at value date.
NETWORK VALIDATED RULES
Currency must be a valid ISO 4217 currency code (Error code(s): T52).
The integer part of Amount must contain at least one digit. A decimal comma is mandatory and is included in the maximumlength. The number of digits following the comma must not exceed the maximum number allowed for the specifiedcurrency (Error code(s): C03, T40, T43).
USAGE RULES
If compounding applies, the balance includes the compounded interest from the previous interest calculation period.
19. Field 32H: Amount to be Settled
FORMAT
Option H [N]3!a15d (Sign) (Currency) (Amount)
PRESENCE
Conditional (C3)
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DEFINITION
This field specifies the amount to be settled at value date.
NETWORK VALIDATED RULES
Currency must be a valid ISO 4217 currency code (Error code(s): T52).
The integer part of Amount must contain at least one digit. A decimal comma is mandatory and is included in the maximumlength. The number of digits following the comma must not exceed the maximum number allowed for the specifiedcurrency (Error code(s): C03, T40, T43).
Sign must not be used when Amount is equal to ’0’ (Error code(s): T14)
USAGE RULES
If Amount is positive (Sign is not present), the amount is to be paid by party A; if Amount is negative (Sign is present), theamount is to be received by party A.
If there is any change to other elements of the deposit without changing the balance, eg, an interest change, Amount is zeroand Currency is the deal currency.
For a change of balance (22B=CHNG), it is the difference between the previous and the new balance.
It is recommended not to include the Interest Amount with the increase or the decrease of the Principal Amount(22B=CHNG) as it normally does not belong to the same cash flow.
For settlement (22B=SETT), if both the principal and the interest are paid to the same financial institution (sequences E andF are not present), field 32H contains the sum of the principal and the interest to be settled. If interests are paid to another financial institution (sequence E or F is present), field 32H contains only the principal to be repaid.
20. Field 30X: Interest Due Date
FORMAT
Option X 8!n (Date)
PRESENCE
Conditional (C3)
DEFINITION
This date specifies the date the interest amount is due.
NETWORK VALIDATED RULES
Date must be a valid date expressed as YYYYMMDD (Error code(s): T50).
USAGE RULES
When a change in the principal amount is confirmed, if no interest is settled, this field should not be used.
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21. Field 34E: Currency and Interest Amount
FORMAT
Option E [N]3!a15d (Sign) (Currency) (Amount)
PRESENCE
Conditional (C5)
DEFINITION
This field specifies the interest amount to be settled at the date specified in field 30X.
NETWORK VALIDATED RULES
Currency must be a valid ISO 4217 currency code (Error code(s): T52).
The integer part of Amount must contain at least one digit. A decimal comma is mandatory and is included in the maximumlength. The number of digits following the comma must not exceed the maximum number allowed for the specifiedcurrency (Error code(s): C03, T40, T43).
Sign must not be used when Amount is equal to ’0’ (Error code(s): T14).
USAGE RULES
If the interest amount has to be paid by Party A, Sign must not be present; if the interest amount has to be received by PartyA, Amount is negative and Sign must be present.
When a change of interest rate (field 22B = CINT) or of principal is confirmed , if the trade agreement specifies that an interest payment has to be done at the same time as that change, this field should be used.
If no interest is settled, this field should not be used.
At settlement (22B = SETT), this amount is settled separately only when the principal and the interests are paid to a differ-ent financial institution (sequence E or F is present).
22. Field 37G: Interest Rate
FORMAT
Option G [N]12d (Sign) (Rate)
PRESENCE
Mandatory
DEFINITION
This field specifies the interest rate.
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NETWORK VALIDATED RULES
The integer part of Rate must contain at least one digit. A decimal comma is mandatory and is included in the maximumlength (Error code(s): T40, T43).
Sign must not be used when Rate is equal to ’0’ (Error code(s): T14).
USAGE RULES
Sign must not be present for a positive rate.
Sign must be present for a negative rate.
A negative rate is used in the extremely rare cases where the agreed rate is negative, the sign of the rate is independent fromthe direction of the deal (Loan or Deposit).
The interest rate must be specified in any confirmation even when there is no change in the rate.
23. Field 14D: Day Count Fraction
FORMAT
Option D 7x (Code)
PRESENCE
Mandatory
DEFINITION
This field specifies the number of days which are taken into account for the calculation of the interest.
This field specifies the Day Count Fraction as per ISDA definitions.
CODES
One of the following codes must be used (Error code(s): T36):
ACT/365 ’Actual/365’ or ’Actual/Actual’ (28-31/365-6)).
AFI/365 ’Actual/365 (fixed)’ (28-31/365).
ACT/360 ’Actual/360’ (28-31/360).
360/360 ’30/360’, ’360/360’ or ’Bond Basis’.
30E/360 ’30E/360’ or ’Eurobond Basis’.
24. Field 30F: Last Day of the Next Interest Period
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FORMAT
Option F 8!n (Date)
PRESENCE
Conditional (C6)
DEFINITION
This date specifies the last day of the next interest period.
NETWORK VALIDATED RULES
Date must be a valid date expressed as YYYYMMDD (Error code(s): T50).
25. Field 38J: Number of Days
FORMAT
Option J 1!a3!n (Indicator) (Number)
PRESENCE
Conditional (C7)
DEFINITION
This field specifies the number of days or months between interest payments starting from the date specified in field 30F.
CODES
Indicator must contain one of the following codes (Error code(s): T61):
D Days
M Months
26. Field 15C: New Sequence
FORMAT
Option C Empty field
PRESENCE
Mandatory
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DEFINITION
This field specifies the start of mandatory sequence C Settlement Instructions for Amounts Payable by Party A.
USAGE RULES
Only the field tag must be present, the field is empty.
27. Field 53a: Delivery Agent
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Optional
DEFINITION
This field identifies the financial institution from which party A will transfer the funds.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC or UKWN if BIC not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/or
O followed by a clearing code
/NETS/or
M A net settlement is taking place.
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/SSIS/ M Standard settlement instructions are used.
M = Mandatory O = Optional
NETWORK VALIDATED RULES
The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
The BIC must not be a BEI, ie, must not be of subtype BEID, MCCO, TESP or TRCO (Error code(s): C05).
USAGE RULES
For matching purposes, option A must be used when available.
Field 53a is used only when the payer wants to inform the payee where the funds come from.
Please refer to the chapter Guidelines for this MT.
28. Field 86a: Intermediary 2
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Conditional (C8)
DEFINITION
This field identifies the second intermediary institution for the transfer of the funds.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC or UKWN if BIC not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
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/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/or
O followed by a clearing code
/NETS/or
M A net settlement is taking place.
/SSIS/ M Standard settlement instructions are used.
M = Mandatory O = Optional
NETWORK VALIDATED RULES
The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
The BIC must not be a BEI, ie, must not be of subtype BEID, MCCO, TESP or TRCO (Error code(s): C05).
USAGE RULES
This field is used when there is a second financial institution between the delivery institution and the receiving institution. Inthe payment chain, this intermediary comes before the first intermediary.
For matching purposes, option A must be used when available.
Please refer to the chapter Guidelines for this MT.
29. Field 56a: Intermediary
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Optional
DEFINITION
This field identifies the first intermediary institution for the transfer of the funds.
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CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC or UKWN if BIC not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/or
O followed by a clearing code
/NETS/or
M A net settlement is taking place.
/SSIS/ M Standard settlement instructions are used.
M = Mandatory O = Optional
NETWORK VALIDATED RULES
The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
The BIC must not be a BEI, ie, must not be of subtype BEID, MCCO, TESP or TRCO (Error code(s): C05).
USAGE RULES
This field is used when there is at least one financial institution between the delivery institution and the receiving institution.
For matching purposes, option A must be used when available.
Please refer to the chapter Guidelines for this MT.
30. Field 57a: Receiving Agent
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
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Option J 5*40x (Party Identification)
PRESENCE
Mandatory
DEFINITION
This field identifies the financial institution and account where party B will receive the payment.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC or UKWN if BIC not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/or
O followed by a clearing code
/NETS/or
M A net settlement is taking place.
/SSIS/ M Standard settlement instructions are used.
M = Mandatory O = Optional
CODES
With option D, one of the following codes may also be used:
NET When net settlement takes place.
NONE When no settlement is taking place.
SSI When standing settlement instructions apply.
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UNKNOWN When the settlement instructions are not known.
NETWORK VALIDATED RULES
The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
The BIC must not be a BEI, ie, must not be of subtype BEID, MCCO, TESP or TRCO (Error code(s): C05).
USAGE RULES
For matching purposes, option A must be used when available.
Party Identifier in options A and D may be used to indicate a CHIPS Universal Identifier. When used, it must be precededby a double slash ’//’, and the code CH and 6 digits.
Please refer to the chapter Guidelines for this MT.
31. Field 58a: Beneficiary Institution
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC/BEI)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Optional
DEFINITION
This field specifies the institution in favour of which the payment is made when different from Party B.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC/BEI or UKWN if BIC/BEI not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
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/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/ O followed by a clearing code
M = Mandatory O = Optional
NETWORK VALIDATED RULES
The BIC/BEI must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
USAGE RULES
For matching purposes, option A must be used when available.
Please refer to the chapter Guidelines for this MT.
32. Field 15D: New Sequence
FORMAT
Option D Empty field
PRESENCE
Mandatory
DEFINITION
This field specifies the start of mandatory sequence D Settlement Instructions for Amounts Payable by Party B.
USAGE RULES
Only the field tag must be present, the field is empty.
33. Field 53a: Delivery Agent
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Optional
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DEFINITION
This field identifies the financial institution from which party B will transfer the funds.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC or UKWN if BIC not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/or
O followed by a clearing code
/NETS/or
M A net settlement is taking place.
/SSIS/ M Standard settlement instructions are used.
M = Mandatory O = Optional
NETWORK VALIDATED RULES
The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
The BIC must not be a BEI, ie, must not be of subtype BEID, MCCO, TESP or TRCO (Error code(s): C05).
USAGE RULES
For matching purposes, option A must be used when available.
Field 53a is used only when the payer wants to inform the payee where the funds come from.
Please refer to the chapter Guidelines for this MT.
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34. Field 86a: Intermediary 2
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Conditional (C8)
DEFINITION
This field identifies the second intermediary institution for the transfer of the funds.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC or UKWN if BIC not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/or
O followed by a clearing code
/NETS/or
M A net settlement is taking place.
/SSIS/ M Standard settlement instructions are used.
M = Mandatory O = Optional
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NETWORK VALIDATED RULES
The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
The BIC must not be a BEI, ie, must not be of subtype BEID, MCCO, TESP or TRCO (Error code(s): C05).
USAGE RULES
This field is used when there is a second financial institution between the delivery institution and the receiving institution. Inthe payment chain, this intermediary comes before the first intermediary.
For matching purposes, option A must be used when available.
Please refer to the chapter Guidelines for this MT.
35. Field 56a: Intermediary
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Optional
DEFINITION
This field identifies the first intermediary institution for the transfer of the funds.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC or UKWN if BIC not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
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/CLRC/or
O followed by a clearing code
/NETS/or
M A net settlement is taking place.
/SSIS/ M Standard settlement instructions are used.
M = Mandatory O = Optional
NETWORK VALIDATED RULES
The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
The BIC must not be a BEI, ie, must not be of subtype BEID, MCCO, TESP or TRCO (Error code(s): C05).
USAGE RULES
This field is used when there is at least one financial institution between the delivery institution and the receiving institution.
For matching purposes, option A must be used when available.
Please refer to the chapter Guidelines for this MT.
36. Field 57a: Receiving Agent
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Mandatory
DEFINITION
This field identifies the financial institution and account where party A will receive the payment.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC or UKWN if BIC not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
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/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/or
O followed by a clearing code
/NETS/or
M A net settlement is taking place.
/SSIS/ M Standard settlement instructions are used.
M = Mandatory O = Optional
CODES
With option D, one of the following codes may also be used:
NET When net settlement takes place
NONE When no settlement is taking place.
SSI When standing settlement instructions apply.
UNKNOWN When the settlement instructions are not known.
NETWORK VALIDATED RULES
The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
The BIC must not be a BEI, ie, must not be of subtype BEID, MCCO, TESP or TRCO (Error code(s): C05).
USAGE RULES
For matching purposes, option A must be used when available.
Party Identifier in options A and D may be used to indicate a CHIPS Universal Identifier. When used, it must be precededby a double slash ’//’, and the code CH and 6 digits.
Please refer to the chapter Guidelines for this MT.
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37. Field 58a: Beneficiary Institution
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC/BEI)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Optional
DEFINITION
This field specifies the institution in favour of which the payment is made when different from party A.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC/BEI or UKWN if BIC/BEI not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/ O followed by a clearing code
M = Mandatory O = Optional
NETWORK VALIDATED RULES
The BIC/BEI must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
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USAGE RULES
For matching purposes, option A must be used when available.
Please refer to the chapter Guidelines for this MT.
38. Field 15E: New Sequence
FORMAT
Option E Empty field
PRESENCE
Mandatory in an optional sequence
DEFINITION
This field specifies the start of optional sequence E Settlement Instructions for Interests Payable by Party A.
USAGE RULES
Only the field tag must be present, the field is empty.
39. Field 53a: Delivery Agent
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Optional
DEFINITION
This field identifies the financial institution from which party A will transfer the interest.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC or UKWN if BIC not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
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/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/or
O followed by a clearing code
/NETS/or
M A net settlement is taking place.
/SSIS/ M Standard settlement instructions are used.
M = Mandatory O = Optional
NETWORK VALIDATED RULES
The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
The BIC must not be a BEI, ie, must not be of subtype BEID, MCCO, TESP or TRCO (Error code(s): C05).
USAGE RULES
For matching purposes, option A must be used when available.
Field 53a is used only when the payer wants to inform the payee where the funds come from.
Please refer to the chapter Guidelines for this MT.
40. Field 86a: Intermediary 2
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Conditional (C8)
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DEFINITION
This field identifies the second intermediary institution for the transfer of the interest.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC or UKWN if BIC not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/or
O followed by a clearing code
/NETS/or
M A net settlement is taking place.
/SSIS/ M Standard settlement instructions are used.
M = Mandatory O = Optional
NETWORK VALIDATED RULES
The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
The BIC must not be a BEI, ie, must not be of subtype BEID, MCCO, TESP or TRCO (Error code(s): C05).
USAGE RULES
This field is used when there is a second financial institution between the delivery institution and the receiving institution. Inthe payment chain, this intermediary comes before the first intermediary.
For matching purposes, option A must be used when available.
Please refer to the chapter Guidelines for this MT.
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41. Field 56a: Intermediary
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Optional
DEFINITION
This field identifies the first intermediary institution for the transfer of the interest.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC or UKWN if BIC not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/or
O followed by a clearing code
/NETS/or
M A net settlement is taking place.
/SSIS/ M Standard settlement instructions are used.
M = Mandatory O = Optional
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NETWORK VALIDATED RULES
The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
The BIC must not be a BEI, ie, must not be of subtype BEID, MCCO, TESP or TRCO (Error code(s): C05).
USAGE RULES
This field is used when there is at least one financial institution between the delivery institution and the receiving institution.
For matching purposes, option A must be used when available.
Please refer to the chapter Guidelines for this MT.
42. Field 57a: Receiving Agent
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Mandatory in an optional sequence
DEFINITION
This field identifies the financial institution and account where party B will receive the interest.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC or UKWN if BIC not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
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/CLRC/or
O followed by a clearing code
/NETS/or
M A net settlement is taking place.
/SSIS/ M Standard settlement instructions are used.
M = Mandatory O = Optional
CODES
With option D, one of the following codes may also be used:
NET When net settlement takes place
NONE When no settlement is taking place.
SSI When standing settlement instructions apply.
UNKNOWN When the settlement instructions are not known.
NETWORK VALIDATED RULES
The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
The BIC must not be a BEI, ie, must not be of subtype BEID, MCCO, TESP or TRCO (Error code(s): C05).
USAGE RULES
For matching purposes, option A must be used when available.
Party Identifier in options A and D may be used to indicate a CHIPS Universal Identifier. When used, it must be precededby a double slash ’//’, and the code CH and 6 digits.
Please refer to the chapter Guidelines for this MT.
43. Field 58a: Beneficiary Institution
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC/BEI)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
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PRESENCE
Optional
DEFINITION
This field specifies the institution in favour of which the payment is made when different from Party B.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC/BEI or UKWN if BIC/BEI not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/ O followed by a clearing code
M = Mandatory O = Optional
NETWORK VALIDATED RULES
The BIC/BEI must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
USAGE RULES
For matching purposes, option A must be used when available.
Please refer to the chapter Guidelines for this MT.
44. Field 15F: New Sequence
FORMAT
Option F Empty field
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PRESENCE
Mandatory in an optional sequence
DEFINITION
This field specifies the start of optional sequence F Settlement Instructions for Interests Payable by Party B.
USAGE RULES
Only the field tag must be present, the field is empty.
45. Field 53a: Delivery Agent
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Optional
DEFINITION
This field identifies the financial institution from which party B will transfer the interest.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC or UKWN if BIC not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/or
O followed by a clearing code
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/NETS/or
M A net settlement is taking place.
/SSIS/ M Standard settlement instructions are used.
M = Mandatory O = Optional
NETWORK VALIDATED RULES
The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
The BIC must not be a BEI, ie, must not be of subtype BEID, MCCO, TESP or TRCO (Error code(s): C05).
USAGE RULES
For matching purposes, option A must be used when available.
Field 53a is used only when the payer wants to inform the payee where the funds come from.
Please refer to the chapter Guidelines for this MT.
46. Field 86a: Intermediary 2
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Conditional (C8)
DEFINITION
This field identifies the second intermediary institution for the transfer of the interest.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC or UKWN if BIC not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
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/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/or
O followed by a clearing code
/NETS/or
M A net settlement is taking place.
/SSIS/ M Standard settlement instructions are used.
M = Mandatory O = Optional
NETWORK VALIDATED RULES
The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
The BIC must not be a BEI, ie, must not be of subtype BEID, MCCO, TESP or TRCO (Error code(s): C05).
USAGE RULES
This field is used when there is a second financial institution between the delivery institution and the receiving institution. Inthe payment chain, this intermediary comes before the first intermediary.
For matching purposes, option A must be used when available.
Please refer to the chapter Guidelines for this MT.
47. Field 56a: Intermediary
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Optional
DEFINITION
This field identifies the first intermediary institution for the transfer of the interest.
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CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC or UKWN if BIC not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/or
O followed by a clearing code
/NETS/or
M A net settlement is taking place.
/SSIS/ M Standard settlement instructions are used.
M = Mandatory O = Optional
NETWORK VALIDATED RULES
The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
The BIC must not be a BEI, ie, must not be of subtype BEID, MCCO, TESP or TRCO (Error code(s): C05).
USAGE RULES
This field is used when there is at least one financial institution between the delivery institution and the receiving institution.
For matching purposes, option A must be used when available.
Please refer to the chapter Guidelines for this MT.
48. Field 57a: Receiving Agent
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
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Option J 5*40x (Party Identification)
PRESENCE
Mandatory in an optional sequence
DEFINITION
This field identifies the financial institution and account where party A will receive the interest.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC or UKWN if BIC not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/or
O followed by a clearing code
/NETS/or
M A net settlement is taking place.
/CLRC/or
O followed by a clearing code
/NETS/or
M A net settlement is taking place.
/SSIS/ M Standard settlement instructions are used.
M = Mandatory O = Optional
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CODES
NETWORK VALIDATED RULES
The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
The BIC must not be a BEI, ie, must not be of subtype BEID, MCCO, TESP or TRCO (Error code(s): C05).
USAGE RULES
For matching purposes, option A must be used when available.
Party Identifier in options A and D may be used to indicate a CHIPS Universal Identifier. When used, it must be precededby a double slash ’//’, and the code CH and 6 digits.
Please refer to the chapter Guidelines for this MT.
49. Field 58a: Beneficiary Institution
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC/BEI)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Optional
DEFINITION
This field specifies the institution in favour of which the payment is made when different from party A.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC/BEI or UKWN if BIC/BEI not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
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/GBSC/ O followed by UK domestic sort code
/CLRC/ O followed by a clearing code
M = Mandatory O = Optional
NETWORK VALIDATED RULES
The BIC/BEI must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
USAGE RULES
For matching purposes, option A must be used when available.
Please refer to the chapter Guidelines for this MT.
50. Field 15G: New Sequence
FORMAT
Option G Empty field
PRESENCE
Mandatory in an optional sequence
DEFINITION
This field specifies the start of optional sequence G Tax Information.
USAGE RULES
Only the field tag must be present, the field is empty.
51. Field 37L: Tax Rate
FORMAT
Option L 12d (Rate)
PRESENCE
Mandatory in an optional sequence
DEFINITION
This field specifies the tax percentage.
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NETWORK VALIDATED RULES
The integer part of Rate must contain at least one digit. A decimal comma is mandatory and is included in the maximumlength (Error code(s): T40, T43).
52. Field 33B: Transaction Currency and Net Interest Amount
FORMAT
Option B 3!a15d (Currency) (Amount)
PRESENCE
Mandatory in an optional sequence
DEFINITION
This field specifies the currency and net interest amount (after deductions of taxes).
NETWORK VALIDATED RULES
Currency must be a valid ISO 4217 currency code (Error code(s): T52).
The integer part of Amount must contain at least one digit. A decimal comma is mandatory and is included in the maximumlength. The number of digits following the comma must not exceed the maximum number allowed for the specifiedcurrency (Error code(s): C03, T40, T43).
53. Field 36: Exchange Rate
FORMAT
12d (Rate)
PRESENCE
Optional
DEFINITION
This field specifies the exchange rate between the transaction currency and the reporting currency.
NETWORK VALIDATED RULES
The integer part of Rate must contain at least one digit. A decimal comma is mandatory and is included in the maximumlength (Error code(s): T40, T43).
54. Field 33E: Reporting Currency and Tax Amount
FORMAT
Option E 3!a15d (Currency) (Amount)
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PRESENCE
Optional
DEFINITION
This field specifies the tax amount in the reporting currency.
NETWORK VALIDATED RULES
Currency must be a valid ISO 4217 currency code (Error code(s): T52).
The integer part of Amount must contain at least one digit. A decimal comma is mandatory and is included in the maximumlength. The number of digits following the comma must not exceed the maximum number allowed for the specifiedcurrency (Error code(s): C03, T40, T43).
55. Field 15H: New Sequence
FORMAT
Option H Empty field
PRESENCE
Mandatory in an optional sequence
DEFINITION
This field specifies the start of optional sequence H Additional Information.
56. Field 29A: Contact Information
FORMAT
Option A 4*35x (Narrative)
PRESENCE
Conditional (C10) in an optional sequence
DEFINITION
This field specifies the name and/or telephone number of the person the Receiver may contact for any queries concerningthis transaction.
CODES
At least one of the following should be used:
/DEPT/ followed by the name of the department
/FAXT/ followed by fax number
/NAME/ followed by the name of the contact person
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/PHON/ followed by the telephone number
/TELX/ followed by the telex number
USAGE RULES
The codes do not need to be put on separate lines. It is the ’/’ at the beginning of a code and not the end-of-line that marksthe end of the information behind the previous code.
57. Field 24D: Dealing Method
FORMAT
Option D 4!c[/35x] (Code) (Additional Information)
PRESENCE
Conditional (C10) in an optional sequence
DEFINITION
This field specifies how the deal was agreed.
CODES
Code must contain one of the following codes, optionally followed with Additional Information (Error code(s): T68):
ELEC Deal made via an electronic system (Reuters, EBS etc.)
PHON Deal agreed on the phone.
58. Field 84a: Dealing Branch Party A
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC/BEI)
Option B [/1!a][/34x][35x]
(Party Identifier)(Location)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Conditional (C10) in an optional sequence
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DEFINITION
This field specifies the branch of party A with whom the deal was done.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC/BEI or UKWN if BIC/BEI not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/ O followed by a clearing code
M = Mandatory O = Optional
NETWORK VALIDATED RULES
The BIC/BEI must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
USAGE RULES
The absence of this field means that party A is the dealing branch.
59. Field 85a: Dealing Branch Party B
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC/BEI)
Option B [/1!a][/34x][35x]
(Party Identifier)(Location)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
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PRESENCE
Conditional (C10) in an optional sequence
DEFINITION
This field specifies the branch of party B with whom the deal was done.
CODES
With option J, the following qualifier codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC/BEI or UKWN if BIC/BEI not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/ O followed by a clearing code
M = Mandatory O = Optional
NETWORK VALIDATED RULES
The BIC/BEI must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
USAGE RULES
The absence of this field means that party B is the dealing branch.
60. Field 26H: Counterparty’s Reference
FORMAT
Option H 16x
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PRESENCE
Conditional (C10) in an optional sequence
DEFINITION
This field specifies the counterparty’s reference, if known.
61. Field 72: Sender to Receiver Information
FORMAT
6*35x (Narrative - Structured Format)
The following line format must be used:
Line 1 /8c/[additional information] Lines 2-6 [//continuation of additional information]
-or-[/8c/[additional information]]
PRESENCE
Conditional (C10) in an optional sequence
DEFINITION
This field specifies additional information for the Receiver and applies to the whole message.
USAGE RULES
Only bilaterally agreed codes can be used in this field.
Each code used must be put between slashes and appear at the beginning of a line.
All alphabetic characters in a code must be in upper case.
Additional explanatory information, which may be continued on the next lines, is preceded by a double slash ’//’. Narrativetext that is not qualified by a code must start with a double slash ’//’ on a new line, and should preferably be the last infor-mation in this field.
Field 72 must not be used for information for which another field is intended.
The use of this field with unstructured text may require manual intervention and thus cause delay in automated systems.
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MT 340 Forward Rate Agreement Confirmation
MT 340 ScopeThis message is exchanged by or on behalf of the institutions or corporates, party A and party B, who have agreed to aforward rate agreement (FRA).
The confirmed transaction is covered by an ISDA (International Swaps and Derivatives Association), Deutscher Rahmen-vertrag für Finanztermingeschäfte, FRABBA (British Bankers’ Association) or AFB (Association Française de Banques)Master Agreement. These agreements are either signed or under negotiation.
A money broker may also send this message to the two parties (party A and party B) for which he arranged the deal.
If there are two money brokers involved in arranging a deal between party A and party B, this message is also exchangedbetween these money brokers.
The message is used to confirm/notify the details of:
a new contract between the partiesan amendment to a previously agreed contractthe cancellation of a confirmation
MT 340 Format SpecificationsThe MT 340 consists of 5 sequences:
Sequence A General Information contains general information about the FRA as well as about the confirmation itselfSequence B Transaction Details contains information about the transactionSequence C Settlement Instructions for Settlement Amount Payable by Party B provides the settlement instructions forparty BSequence D Settlement Instructions for Settlement Amount Payable by Party A provides the settlement instructions forparty ASequence E Additional Information provides information, which is not match-critical
MT 340 Forward Rate Agreement Confirmation
Status Tag Field Name Content/Options No.
Mandatory Sequence A General Information
M 15A New Sequence (CrLf) 1
M 20 Sender’s Reference 16x 2
O 21 Related Reference 16x 3
M 22A Type of Operation 4!c 4
O 94A Scope of Operation 4!c 5
M 22C Common Reference 4!a2!c4!n4!a2!c 6
M 23D Type of FRA 10a 7
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Status Tag Field Name Content/Options No.
O 21N Contract Number Party A 16x 8
O 21B Contract Number Party B 16x 9
M 82a Party A A or D 10
M 87a Party B A or D 11
M 77H Type, Date, Version of the Agreement 6a[/8!n][//4!n] 12
O 14C Year of Definitions 4!n 13
Mandatory Sequence B Transaction Details
M 15B New Sequence (CrLf) 14
M 30T Trade Date 8!n 15
M 32B Currency, Notional Amount 3!a15d 16
M 30F Effective Date 8!n 17
M 30P Termination Date 8!n 18
M 37M Fixed Rate [N]12d 19
M 14F Floating Rate Option 24x 20
Optional Subsequence B1 AFB and FRABBA Details
M 30V Fixing Date 8!n 21
M 38D Contract Period 4n 22
Mandatory Subsequence B2 Other Details
M 38G Designated Maturity 2n1!a/2n1!a 23
M 14D Floating Rate Day Count Fraction 7x 24
M 17F FRA Discounting 1!a 25
M 18A Number of Repetitions 5n 26
----->
M 22B Financial Centre 4!c 27
-----|
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Status Tag Field Name Content/Options No.
Mandatory Sequence C Settlement Instructions for Settlement Amount Payable by Party B
M 15C New Sequence (CrLf) 28
O 53a Delivery Agent A, D or J 29
O 86a Intermediary 2 A, D or J 30
O 56a Intermediary A, D or J 31
M 57a Receiving Agent A, D or J 32
O 58a Beneficiary Institution A, D or J 33
Mandatory Sequence D Settlement Instructions for Settlement Amount Payable by Party A
M 15D New Sequence (CrLf) 34
O 53a Delivery Agent A, D or J 35
O 86a Intermediary 2 A, D or J 36
O 56a Intermediary A, D or J 37
M 57a Receiving Agent A, D or J 38
O 58a Beneficiary Institution A, D or J 39
Optional Sequence E Additional Information
M 15E New Sequence (CrLf) 40
O 29A Contact Information 4*35x 41
O 24D Dealing Method 4!c[/35x] 42
O 88a Broker Identification A or D 43
O 71F Broker’s Commission 3!a15d 44
O 21G Broker’s Reference 16x 45
O 72 Sender to Receiver Information 6*35x 46
M = Mandatory O = Optional
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MT 340 Network Validated RulesC1
In sequence A, the presence of field 21 depends on the value of field 22A as follows (Error code(s): D02):
Sequence Aif field 22A is...
Sequence Athen field 21 is...
AMND Mandatory
CANC Mandatory
NEWT Optional
C2
In sequence A, the presence of field 14C depends on the value of subfield 1 of field 77H as follows (Error code(s): E40):
Sequence Aif subfield 1 of field 77H is...
Subsequence Athen field 14C is...
ISDA Mandatory
Not equal ISDA Not allowed
C3
In sequence B, the presence of subsequence B1 depends on the value of subfield 1 of field 77H in sequence A asfollows (Error code(s): E41):
Sequence Aif subfield 1 of field 77H is...
Sequence Bthen subsequence B1 is...
AFB Mandatory
DERV Not allowed
FRABBA Mandatory
ISDA Not Allowed
C4
The presence of sequence E, and the presence of field 72 in sequence E, depend on the value of field 14F in sequenceB as follows (Error code(s): D36):
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Sequence Bif field 14F is...
then sequence E is... Sequence Eand field 72 is...
OTHER Mandatory Mandatory
Not equal OTHER Optional Optional
C5
The presence of sequence E, and the presence of field 72 in sequence E, depend on the value of the second componentof the first subfield of field 38G in subsequence B2 as follows (Error code(s): D42):
Subsequence B2if second component of
subfield 1 of field 38G is...
then sequence E is... Sequence Eand field 72 is...
O Mandatory Mandatory
Not equal O Optional Optional
C6
The presence of sequence E, and the presence of field 72 in sequence E, depend on the value of field 14D in subse-quence B2 as follows (Error code(s): D37):
Subsequence B2if field 14D is...
then sequence E is... Sequence Eand field 72 is...
OTHER Mandatory Mandatory
Not equal OTHER Optional Optional
C7
In subsequence B2, if at least one occurrence of field 22B contains the code OTHR, then sequence E and field 72 insequence E are mandatory, otherwise (ie, if no occurrence of field 22B contains the code OTHR), field 72 in sequenceE is optional (Error code(s): D69).
Subsequence B2if at least one field 22B is...
then sequence E is... Sequence Eand field 72 is...
OTHR Mandatory Mandatory
otherwise (ie, no occurrence offield 22B contains the codeword OTHR)
Optional Optional
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C8
In sequences C and D, if field 56a is not present, then field 86a in the same sequence C or D is not allowed, otherwisefield 86a is optional (Error code(s): E35).
Sequence Cif field 56a is...
Sequence Cthen field 86a is...
Not Present Not Allowed
Present Optional
Sequence Dif field 56a is...
Sequence Dthen field 86a is...
Not Present Not Allowed
Present Optional
C9
The presence of sequence E, and the presence of fields 88a and 71F in sequence E, depend on the value of field 94A insequence A as follows (Error code(s): D74):
Sequence Aif field 94A is...
then sequence E is... Sequence E and field88a is...
Sequence E and field71F is...
Not Present Optional Optional Not Allowed
BROK Mandatory Mandatory Optional
Not equals BROK Optional Optional Not Allowed
C10
In sequence E, field 15E may not be the only field, ie, if field 15E is present, then at least one of the other fields ofsequence E must be present (Error code(s): C98).
MT 340 Usage RulesTo cancel a previously sent message (field 22A is CANC):
field 21 must contain the reference, ie, the content of field 20, of the message containing the instruction to be cancelledthe cancellation message must contain at least the mandatory fields of the original message.
To amend a previously sent message (field 22A is AMND):field 21 must contain the reference, ie, the content of field 20, of the message containing the instruction to be amendedthe amendment message must contain both the unchanged and the changed/new fields of the original messagethe amendment message replaces the original message.
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The MT 340 is used to confirm a deal between two parties, A and B:
It can also be exchanged on behalf of an institution or corporate:
The MT 340 can also be used as a unilateral confirmation from a money broker to the parties A and B:
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Or, when two money brokers are involved, between the money brokers:
Party A and party B are the legal entities which have agreed to the transaction. Party A is either:
the Senderthe institution/corporate on whose behalf the message is sentone of the institutions for which the broker arranged the deal and to whom he is sending the confirmationor, when a money broker confirms to another money broker, the party for which the sending broker arranged the deal.
Party B is either:
the Receiverthe institution/corporate on whose behalf the message is receivedthe other institutions for which the broker arranged the deal, ie, party A’s counterpartywhen a money broker confirms to another money broker, party A’s counterparty.
Industry Requirements
The following guidelines apply when sending/exchanging an MT 340:
When ISDA is mentioned in field 77H (Type), this confirmation constitutes a Confirmation as referred to in, and supplements, forms a part of and is subject to, the ISDA Master Agreement or the Interest Rate and CurrencyExchange Agreement dated as of (see field 77H) between Party A and Party B as amended and supplemented fromtime to time (’Agreement’). All provisions contained in the Agreement govern this Confirmation except as expressly modified below.
For the purpose of this document ’ISDA Master’ shall mean either the ISDA Master Agreement or the Interest Rateand Currency Exchange Agreement, or vice-versa.
If Party A and Party B are not parties to an Agreement, this Confirmation evidences a complete binding agreementbetween Party A and Party B as to the terms of the Transaction to which this Confirmation relates. Party A and Party Bagree to use all reasonable efforts promptly to negotiate, execute and deliver an agreement in the form of the 1992ISDA Master Agreement (Multicurrency-Cross Border) (the ’ISDA Form’), with such modifications as Party A and
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Party B will in good faith agree. Upon the execution by Party A and Party B of such an agreement, this Confirmationwill supplement, form part of, and be subject to that agreement. All provisions contained or incorporated by referencein that agreement upon its execution will govern this Confirmation except as expressly modified below. Until weexecute and deliver that agreement, this Confirmation, together with all other documents referring to the ISDA Form(each a ’Confirmation’) confirming transactions (each a ’Transaction’) entered into between Party A and Party B (notwithstanding anything to the contrary in a Confirmation), shall supplement, form part of, and be subject to an agreement in the form of the ISDA Form as if Party A and Party B had executed an agreement in such form (butwithout any Schedule thereto except for the election of New-York Law as the governing law and USD as the Termina-tion Currency or the Termination Currency is the currency of the Transaction) on the Trade Date of the first such Transaction between the parties. In the event of any inconsistency between the provisions of that agreement and this Confirmation, this Confirmation will prevail for the purpose of this Transaction.
When AFB is mentioned in field 77H (Type), this Confirmation constitutes a Confirmation as referred to in, and supplements, forms a part of and is subject to, the AFB Master Agreement for foreign exchange and derivatives trans-actions dated (see field 77H) between Party A and Party B as amended and supplemented from time to time (’Agree-ment’). All provisions contained in the Agreement govern this Confirmation except as expressly modified below.If field 77H specifies DERV as the type of master agreement and if Party A and Party B are parties to a Deutscher Rahmenvertrag für Finanztermingeschäfte (the "German Master Agreement"), this Transaction is subject to the termsand conditions of that German Master Agreement. If Party A and Party B have mutually agreed to enter into this German Master Agreement, but the Agreement itself hasnot yet been signed, the terms and conditions of the Deutscher Rahmenvertrag für Finanztermingeschäfte (the "GermanMaster Agreement") and its annexes, the "Anhang für Devisengeschäfte und Optionen auf Devisengeschäfte" or the"Anhang für Optionsgeschäfte auf Börsenindizes und auf Wertpapiere zu dem Rahmenvertrag für Finanzter-mingeschäfte", as applicable, will apply. The individual transaction (Einzelabschluß) and all other transactions (Einzelabschlüsse) between Party A and Party Bform a single agreement.If some of the standard definitions linked to the agreement specified in field 77H do not apply to the confirmation of atrade under that agreement, a long form confirmation should be sent as there isn’t an appropriate SWIFT message for it.If a collateral agreement exists between two confirming parties, then the FRA is considered subject to that agreement.The Reset Date Specification for all FRA’s confirmed with the MT 340 is FIRST, ie, the first day of the Calculation Period.The Reset Date is equal to the Payment Date.Modified Following Business Day Convention means: the non-business date will be adjusted to the first following daythat is a business day unless that day falls in the next calendar month, in which case that date will be the first preceding business day.For all FRA’s confirmed with the MT 340, the Effective Date is equal to the Payment Date if ISDA is specified in field77H or the Settlement Date if FRABBA is specified in 77H; provided however that if the Effective Date is a non-busi-ness day it will remain unadjusted, however, the Payment Date /Settlement Date shall be adjusted in accordance with Modified Following Business Day Convention.The message only handles the contract part of the Forward Rate Agreement. It is not used for confirming settlementdetails following the establishment of the settlement rate on fixing date. This information is confirmed using an MT 341.For the actual transfer of funds or the confirmation of credits and debits, other messages outside Category 3 are avail-able such as the MTs 202, 203, 205, Financial Institution Transfer messages and the MTs 900, 910, 950, Confirmationof Debit/Credit and statement messages, respectively.
In all cases, the common reference of the MT 340 must be quoted in the relevant reference field, ie, field 21 of the MTs202, 203, 205.
If the underlying contract is amended/cancelled on a bilateral basis, this should be agreed upon by a bilateral exchangeof confirmations with either code AMND or CANC, respectively.The cancellation function is only used to cancel an erroneous message, not to terminate the FRA.
MT 340 GuidelinesThe MT 392 can also be used for cancellation. The following issues however, have to be considered:
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Acknowledgement: by sending the MT 392, the sender requests the receiver to cancel the confirmation previously sent.The receiver must acknowledge the request by sending an MT 396 back to the sender of the MT 392.Routing: the MT 392 might not be routed to the same destination as the MT 340 to be cancelled.Repetition of the original message: in the MT 392, only the sender’s reference of the previous message is mandatory,all other fields are optional. When an MT 340 with CANC is used, the fields to be copied are mandated by the stan-dard.
Settlement Details
The table below shows how the different settlement parties involved in the deal can be identified. The table is presentedfrom party A’s point of view.
Whenever possible, users should use option A to identify institutions in these fields. Use of free text, ie, option D, exceptwhen used to specify recognized code words, is strongly discouraged. Option D not only precludes party B from matchingand further processing the message automatically but also is contrary to the message text standards which state that option Dis only to be used when no other option is available.
Option J is only used when exchanging messages with fund managers.
Normally, the beneficiary is party A for the amount bought and party B for the amount sold. If party A or party B forwardsthe funds to an ultimate beneficiary institution, this institution is included in field 58a.
Party A services account of party B. No separate settlement messages are sent.
Party A will RECEIVE funds from Party B Party A will PAY funds to Party B
Party A will debit party B’s account. Party A will credit party B’s account
:53a: not used :53a: not used
:86a: not used :86a: not used
:56a: not used :56a: not used
:57a:[/account no of party B]party A
:57a:[/account no of party B]party A
Party B services account of party A. No separate settlement messages are sent.
Party A will RECEIVE funds from Party B Party A will PAY funds to Party B
Party B will credit party A’s account Party B will debit party A’s account
:53a: not used :53a: not used
:86a: not used :86a: not used
:56a: not used :56a: not used
:57a:[/account no of party A]party B
57a:[/account no of party A]party B
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Beneficiary’s account serviced by a financial institution other than party A or party B. The payer sends an MT 202 toits correspondent who will then send an MT 205 or equivalent to the correspondent of the payee. The correspondentcan be a branch of the party.
Party A will RECEIVE funds from Party B Party A will PAY funds to Party B
Credit to party A’s account with that financial institution
Credit to party B’s account with that financial insti-tution
[:53a: Correspondent of party B] [:53a: Correspondent of party A]
:86a: not used :86a: not used
:56a: not used :56a: not used
:57a:[/account no of party A]correspondent of party A
:57a:[/account no of party B]correspondent of party B
Beneficiary receives the funds through another institution (eg, BANK x for party x).
The payer sends an MT 202 to its correspondent. The correspondent will then send an MT 205 or equivalent to the correspondent of BANK x, ie, CORR x. CORR x will then send an MT 202 to BANK x who will then send an MT 950to party x.
Field 56a identifies where BANK x will receive the funds.
Party A will RECEIVE funds from Party B Party A will PAY funds to Party B
BANK A will receive the funds for party A BANK B will receive the funds for party B
[:53a:Correspondent of party B] [:53a:Correspondent of party A]
:86a: not used :86a: not used
:56a:[/account no of BANK A]CORR A
:56a:[/account no of BANK B]CORR B
:57a:[/account no of party A]BANK A
:57a:[/account no of party B]BANK B
Beneficiary receives the funds through another institution (eg, BANK x for party x), the correspondent of BANK x,CORR x also uses a correspondent.
The payer sends an MT 202 to its correspondent. The correspondent will then send an MT 205 or equivalent to the correspondent of CORR x. The correspondent of CORR x will then send an MT 202 to CORR x. CORR x will thensend an MT 202 to BANK x who will then send an MT 950 to party x.
Field 86a identifies where CORR x will receive the funds.
Field 56a identifies the correspondent of BANK x.
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Party A will RECEIVE funds from Party B Party A will PAY funds to Party B
BANK A will receive the funds for party A viaCORR A
BANK B will receive the funds for party B viaCORR B
[:53a:Correspondent of party B] [:53a:Correspondent of party A]
:86a:[/account of CORR A]correspondent of CORR A
:86a:[/account no of CORR B]correspondent of CORR B
:56a:[/account no of BANK A]CORR A
:56a:[/account no of BANK B]CORR B
:57a:[/account no of partyA]BANK A
:57a:[/account no of party B]BANK B
Beneficiary to receive the funds directly through a clearing system.
The payer sends an MT 202 to its correspondent who will then send an MT 202 the payee.
Party A will RECEIVE funds from Party B Party A will PAY funds to Party B
Party A will receive the funds through clearing Party B will receive the funds through clearing
[:53a:Correspondent of party B] [:53a:Correspondent of party A]
:86a: not used :86a: not used
:56a: not used :56a: not used
:57a:/CLEARparty A
:57a:/CLEARparty B
The counterparties use their standing settlement instructions.
Party A will RECEIVE funds from Party B Party A will PAY funds to Party B
:53a: not used :53a: not used
:86a: not used :86a: not used
:56a: not used :56a: not used
:57D:SSI :57D:SSI
The payment flows are netted based on a bilateral agreement.
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Party A will RECEIVE funds from Party B Party A will PAY funds to Party B
:53a: not used :53a: not used
:86a: not used :86a: not used
:56a: not used :56a: not used
:57D:NET :57D:NET
There is no payment (amount is zero) or the settlement details are irrelevant.
Party A will RECEIVE funds from Party B Party A will PAY funds to Party B
:53a: not used :53a: not used
:86a: not used :86a: not used
:56a: not used :56a: not used
:57D:NONE :57D:NONE
The settlement details are not known at the time the confirmation is issued.
Party A will RECEIVE funds from Party B Party A will PAY funds to Party B
:53a: not used :53a: not used
:86a: not used :86a: not used
:56a: not used :56a: not used
:57D:UNKNOWN :57D:UNKNOWN
Note: It is only necessary to quote an account number when multiple accounts are serviced for the same institution.
MT 340 Field Specifications
1. Field 15A: New Sequence
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FORMAT
Option A Empty Field
PRESENCE
Mandatory
DEFINITION
This field specifies the start of mandatory sequence A General Information.
USAGE RULES
Only the field tag must be present, the field is empty.
2. Field 20: Sender’s Reference
FORMAT
16x (Reference)
PRESENCE
Mandatory
DEFINITION
This field specifies the reference assigned by the Sender to unambiguously identify the message.
NETWORK VALIDATED RULES
This field must not start or end with a slash ’/’ and must not contain two consecutive slashes ’//’ (Error code(s): T26).
USAGE RULES
The reference assigned to a message is used for cross-referencing purposes in subsequent messages, such as following confirmation and statement messages as well as queries. It is therefore essential for the identification of the original messagesent that this reference be unique.
3. Field 21: Related Reference
FORMAT
16x (Reference)
PRESENCE
Conditional (C1)
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DEFINITION
This field contains the identification of the message to which the current message is related.
NETWORK VALIDATED RULES
This field must not start or end with a slash ’/’ and must not contain two consecutive slashes ’//’ (Error code(s): T26).
USAGE RULES
When used, this field must contain the Sender’s reference (field 20) of the previous confirmation which is to be amended orcancelled by this message.
4. Field 22A: Type of Operation
FORMAT
Option A 4!c (Function)
PRESENCE
Mandatory
DEFINITION
This field specifies the function of the message.
CODES
Function must contain one of the following codes (Error code(s): T36):
AMND Replaces a previously sent message with the amended one contained in this message.Used to add settlement agents to an MT 340 previously sent-or-to correct error(s) in an MT 340 previously sent.
CANC Cancels a previously sent message.Used to cancel an MT 340 previously sent-or-to cancel an MT 340 which contains erroneous information.
NEWT New confirmation.Used to send the MT 340 for the first time-or-to send a corrected MT 340 when the erroneous one was cancelled using an MT 340 with function CANC.
USAGE RULES
As the amend message replaces the previously sent confirmation, it must contain both the amended fields and the fieldswhich are not changed.
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When the cancel function is used, the message must reconfirm at least the mandatory fields of the original transaction. The cancellation function must not be used to terminate the FRA.
An amendment or cancellation message always refers to the previous confirmation identified in field 21.
5. Field 94A: Scope of Operation
FORMAT
Option A 4!c (Scope)
PRESENCE
Optional
DEFINITION
This field specifies the role of the Sender and the Receiver of the message in the conclusion of the confirmed trade.
CODES
Scope must contain one of the following codes (Error code(s): T36):
AGNT Sender/Receiver is sending/receiving the message on behalf of a third party.
BILA Bilateral confirmation, ie, Sender and Receiver are the principals.
BROK Confirmation is sent by a money broker.
USAGE RULES
The absence of this field means that the Sender and the Receiver are the principals.
AGNT is used when the confirmation has been sent or received on behalf of a separate legal party and that party has donethe deal.
6. Field 22C: Common Reference
FORMAT
Option C 4!a2!c4!n4!a2!c (Bank Code 1) (Location Code 1) (Reference Code) (BankCode 2) (Location Code 2)
PRESENCE
Mandatory
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DEFINITION
This field contains a reference common to both the Sender and the Receiver.
NETWORK VALIDATED RULES
This field consists of the bank and location codes (Error code(s): T95) (from the ISO Bank Identifier Code) of both theSender and the Receiver of the MT 340. These codes must appear in alphabetical order (letters take precedence overnumbers) (Error code(s): T96).
Location Code 1 and Bank Code 2 are separated by four digits, which must consist of the rightmost non-zero digits of theFixed Rate (field 37M in sequence B). If there are no digits to the left of it, the space must be zero filled (Error code(s): T22).
7. Field 23D: Type of FRA
FORMAT
Option D 10a (Type)
PRESENCE
Mandatory
DEFINITION
This field specifies the type of FRA being confirmed.
CODES
Type must contain one of the following codes (Error code(s): T48):
FIXEDFLOAT Party A is the FRA buyer, ie, pays the fixed and receives the floating rate.
FLOATFIXED Party A is the FRA seller, ie, receives the fixed and pays the floating rate.
8. Field 21N: Contract Number Party A
FORMAT
Option N 16x (Contract Number)
PRESENCE
Optional
DEFINITION
This field specifies the contract number of the transaction from party A’s viewpoint.
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USAGE RULES
This field must remain the same throughout the whole life of the transaction. It is used by party A to link the settlementmessage to the original transaction.
9. Field 21B: Contract Number Party B
FORMAT
Option B 16x (Contract Number)
PRESENCE
Optional
DEFINITION
This field specifies the contract number of the transaction from party B’s viewpoint.
USAGE RULES
This field should be used by party A whenever the information is available. It is used by party B to link the settlementmessage to the original transaction.
10. Field 82a: Party A
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC/BEI)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
PRESENCE
Mandatory
DEFINITION
This field identifies party A.
NETWORK VALIDATED RULES
The BIC/BEI must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
USAGE RULES
For matching purposes, option A must be used when available.
Party A is either the sender :94A:BILA, or, the institution or corporate on whose behalf the message is sent :94A:AGNT,except when the Sender is a money broker :94A:BROK.
Please refer to the chapter Usage Rules for this MT.
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11. Field 87a: Party B
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC/BEI)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
PRESENCE
Mandatory
DEFINITION
This field identifies party B.
NETWORK VALIDATED RULES
The BIC/BEI must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
USAGE RULES
For matching purposes, option A must be used when available.
Party B is either the receiver :94A:BILA, or, the institution or corporate on whose behalf the message is received :94A:AGNT except when the sender is a money broker :94A:BROK.
Please refer to the chapter Usage Rules for this MT.
12. Field 77H: Type, Date, Version of the Agreement
FORMAT
Option H 6a[/8!n][//4!n] (Type of Agreement) (Date) (Version)
PRESENCE
Mandatory
DEFINITION
This field specifies the type of the agreement covering the transaction. It is followed by the date on which the agreementwas signed and the version of the agreement.
CODES
Type of Agreement must contain one of the following codes (Error code(s): T47):
AFB AFB Master Agreement.
DERV Rahmenvertrag für Finanztermingeschäfte.
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FRABBA British Bankers Association
ISDA ISDA Master Agreement
NETWORK VALIDATED RULES
Date must be a valid date expressed as YYYYMMDD (Error code(s): T50).
Version must be a valid year expressed as YYYY. It must not consist entirely of zeroes (Error code(s): T50).
USAGE RULES
In a BBA agreement, Date and Version are not allowed.
In a DERV, AFB or ISDA agreement, the absence of the second and third subfield means either that the information is not available or that the agreement is under negotiation.
13. Field 14C: Year of Definitions
FORMAT
Option C 4!n (Year)
PRESENCE
Conditional (C2)
DEFINITION
This field specifies the year of the version of the ISDA Terms and Definitions applicable to the MT 340 Forward Rate Agreement Confirmation.
USAGE RULES
This field contains the identification of a Year expressed as YYYY. This field must be used and understood as follows:
Year contains the value 1991: "The definitions and provisions contained in the 1991 ISDA Definitions (as published bythe International Swaps and Derivatives Association, Inc.) (the "Definitions") are incorporated into this Confirmation".Year contains the value 1998: "The definitions and provisions contained in the 1991 ISDA Definitions (as supple-mented by the 1998 Supplement and as further amended and supplemented by the 1998 ISDA Euro Definitions), aspublished by the International Swaps and Derivatives Association, Inc., are incorporated into this Confirmation".Year contains the value 2000: "The definitions and provisions contained in the 2000 ISDA Definitions (as published bythe International Swaps and Derivatives Association, Inc.) (the "Definitions") are incorporated into this Confirmation".
14. Field 15B: New Sequence
FORMAT
Option B Empty Field
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PRESENCE
Mandatory
DEFINITION
This field specifies the start of mandatory sequence B Transaction Details.
USAGE RULES
Only the field tag must be present, the field is empty.
15. Field 30T: Trade Date
FORMAT
Option T 8!n (Date)
PRESENCE
Mandatory
DEFINITION
This date specifies the date the transaction was agreed between party A and party B.
NETWORK VALIDATED RULES
Date must be a valid date expressed as YYYYMMDD (Error code(s): T50).
USAGE RULES
The trade date remains the same when a confirmation is amended (corrected/completed) unilaterally. When the terms of thedeal are renegotiated on a bilateral basis, the trade date reflects the date of renegotiation in the amend message.
16. Field 32B: Currency, Notional Amount
FORMAT
Option B 3!a15d (Currency) (Amount)
PRESENCE
Mandatory
DEFINITION
This field specifies the currency and notional amount of the FRA.
NETWORK VALIDATED RULES
Currency must be a valid ISO 4217 currency code (Error code(s): T52).
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The integer part of Amount must contain at least one digit. A decimal comma is mandatory and is included in the maximumlength. The number of digits following the comma must not exceed the maximum number allowed for the specifiedcurrency (Error code(s): C03, T40, T43).
17. Field 30F: Effective Date
FORMAT
Option F 8!n (Date)
PRESENCE
Mandatory
DEFINITION
This date specifies for FRABBA FRA’s, the settlement date or, for ISDA FRA’s, the Effective Date of the FRA.
NETWORK VALIDATED RULES
Date must be a valid date expressed as YYYYMMDD (Error code(s): T50).
USAGE RULES
For ISDA FRA’s this date is an unadjusted date.
18. Field 30P: Termination Date
FORMAT
Option P 8!n (Date)
PRESENCE
Mandatory
DEFINITION
This date specifies for FRABBA FRA’s, the maturity date or, for ISDA FRA’s, the termination date of the FRA.
NETWORK VALIDATED RULES
Date must be a valid date expressed as YYYYMMDD (Error code(s): T50).
USAGE RULES
For ISDA FRA’s this date is an unadjusted date.
19. Field 37M: Fixed Rate
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FORMAT
Option M [N]12d (Sign) (Rate)
PRESENCE
Mandatory
DEFINITION
This rate specifies for FRABBA FRA’s, the contract rate or, for ISDA FRA’s, the fixed rate of the FRA.
NETWORK VALIDATED RULES
The integer part of Rate must contain at least one digit. A decimal comma is mandatory and is included in the maximumlength (Error code(s): T40, T43).
Sign must not be used when Rate is equal to ’0’ (Error code(s): T14).
USAGE RULES
The rate is quoted following standard banking practice.
Sign must not be present for a positive rate.
Sign must be present for a negative rate.
20. Field 14F: Floating Rate Option
FORMAT
Option F 24x (Floating Rate Option)
PRESENCE
Mandatory
DEFINITION
This field specifies the Floating Rate Option of the FRA.
For an ISDA Master (Type in field 77H = ISDA), this field specifies the Floating Rate Option as per ISDA definitions.
CODES
This field must contain one of the following codes:
AUD-BBR-BBSW
AUD-BBR-BBSY(BID)
AUD-BBR-ISDC
AUD-LIBOR-BBA
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AUD-LIBOR-RFRCBANKS
CAD-BA-CDOR
CAD-BA-ISDD
CAD-BA-RFRCBANKS
CAD-BA-TELERATE
CAD-LIBOR-BBA
CAD-LIBOR-RFRCBANKS
CAD-REPO-CORRA
CAD-TBILL-ISDD
CAD-TBILL-RFRCBANKS
CAD-TBILL-TELERATE
CHF-ANNUALSR-RFRCBANKS (ie, CHF-ANNUALSWAPRATE-RFRCBANKS)
CHF-ANNUALSWAPRATE
CHF-LIBOR-BBA
CHF-LIBOR-ISDA
CHF-LIBOR-RFRCBANKS
CHF-TOIS-OIS-COMPOUND
CZK-PRIBOR-PRBO
CZK-PRIBOR-RFRCBANKS
DKK-CIBOR-DKNA13
DKK-CIBOR2-DKNA13
DKK-CIBOR-RFRCBANKS
DKK-CITA-DKNA14-COMP
EUR-ANNUALSR-RFRCBANKS (ie, EUR-ANNUAL SWAP RATE-RFRCBANKS)
EUR-ANNUALSWAPRATE-10:00
EUR-ANNUALSWAPRATE-11:00
EUR-ANNUALSWAPRATE-3M (ie, EUR-ANNUAL SWAP RATE-3 MONTH)
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EUR-EONIA-AVERAGE
EUR-EONIA-OIS-COMPOUND
EUR-EURIBOR-ACT/365
EUR-EURIBOR-RFRCBANKS
EUR-EURIBOR-TELERATE
EUR-EURONIA-OIS-COMPOUND
EUR-ISDA-EURIBORSR-11:00 (ie, EUR-ISDA-EURIBOR SWAP RATE-11:00)
EUR-ISDA-EURIBORSR-12:00 (ie, EUR-ISDA-EURIBOR SWAP RATE-12:00)
EUR-ISDA-LIBORSR-10:00 (ie, EUR-ISDA-LIBOR SWAP RATE-10:00)
EUR-ISDA-LIBORSR-11:00 (ie, EUR-ISDA-LIBOR SWAP RATE-11:00)
EUR-LIBOR-BBA
EUR-LIBOR-RFRCBANKS
EUR-TAM-CDC
EUR-TEC5-CNO
EUR-TEC5-RFRCBANKS
EUR-TEC10-CNO
EUR-TEC10-RFRCBANKS
EUR-TMM-CDC-COMPOUND
GBP-LIBOR-BBA
GBP-LIBOR-ISDA
GBP-LIBOR-RFRCBANKS
GBP-SEMI-ANNSR-RFRCBANKS (ie,GBP-SEMI-ANNUALSWAPRATE-RFRCBANKS)
GBP-SEMI-ANNUALSWAPRATE
GBP-WMBA-SONIA-COMPOUND
HKD-HIBOR-HIBOR (ie, HKD-HIBOR-HIBOR=)
HKD-HIBOR-HKAB
HKD-HIBOR-ISDC
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HKD-HIBOR-RFRCBANKS
HUF-BUBOR-REUTERS
HUF-BUBOR-RFRCBANKS
IDR-SOR-RFRCBANKS
IDR-SOR-TELERATE
JPY-ISDA-SWAP RATE-10:00
JPY-ISDA-SWAP RATE-15:00
JPY-LIBOR-BBA
JPY-LIBOR-ISDA
JPY-LIBOR-RFRCBANKS
JPY-TIBOR-TIBM(10BANKS)
JPY-TIBOR-TIBM(5BANKS)
JPY-TIBOR-TIBM(ALLBANKS)
JPY-TIBOR-TIBM-RFRCBANKS
JPY-TIBOR-ZTIBOR
JPY-TSR-RFRCBANKS
JPY-TSR-TELERATE-10:00
JPY-TSR-TELERATE-15:00
MYR-KLIBOR-BNM
MYR-KLIBOR-RFRCBANKS
MXN-TIIE-BANXICO
MXN-TIIE-REFERENCE BANKS
NOK-NIBOR-NIBR
NOK-NIBOR-RFRCBANKS
NZD-BBR-FRA
NZD-BBR-ISDC
NZD-BBR-RFRCBANKS
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NZD-BBR-TELERATE
PLZ-WIBOR-RFRCBANKS
PLZ-WIBOR-WIBO
SAR-SRIOR-RFRCBANKS
SAR-SRIOR-SUAA
SEK-STIBOR-RFRCBANKS
SEK-STIBOR-SIDE
SGD-SIBOR-RFCBANKS
SGD-SIBOR-TELERATE
SGD-SOR-RFRCBANKS
SGD-SOR-TELERATE
SKK-BRIBOR-BLOOMBERG
SKK-BRIBOR-BRBO
SKK-BRIBOR-RFRCBANKS
THB-SOR-RFRCBANKS
THB-SOR-TELERATE
USD-BA-H.15
USD-BA-RFRCDLRS
USD-CD-H.15
USD-CD-RFRCDLRS
USD-CMS-RFRCBANKS
USD-CMS-TELERATE
USD-CMT-T7051
USD-CMT-T7052
USD-COF11-FHLBSF
USD-COF11-TELERATE
USD-CP-H.15
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USD-CP-RFRCDLRS
USD-FEDFUND-H.15
USD-FEDFUND-RFRCDLRS
USD-FFCB-DISCO
USD-ISDA-SWAP RATE
USD-LIBOR-BBA
USD-LIBOR-ISDA
USD-LIBOR-LIBO
USD-LIBOR-RFRCBANKS
USD-PRIME-H.15
USD-PRIME-RFRCBANKS
USD-SIBOR-RFRCBANKS
USD-SIBOR-SIBO
USD-TBILL-H.15
USD-TBILL-SECMARKET
USD-TIBOR-ISDC
USD-TIBOR-RFRCBANKS
USD-TREASURYRATE-T500
USD-TREASURYRATE-T19901
ZAR-DEPOSIT-RFRCBANKS
ZAR-DEPOSIT-SAFEX
ZAR-JIBAR-RFRCBANKS
ZAR-JIBAR-SAFEX
ZAR-PRIME-AVERAGE
ZAR-PRIME-AVRG-RFRCBANKS (ie, ZAR-PRIME-AVERAGE-RFRCBANKS)
OTHER The Floating Rate Option is specified in field 72
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CODES
The following codes are published for redenomination purposes:
ATS-VIBOR-RFRCBANKS
ATS-VIBOR-VIBO
BEF-BIBOR-BEFIXING
BEF-BIBOR-ISDB
BEF-BIBOR-RFRCBANKS
BEF-BIBOR-TELERATE
COMLUF-LUXIBOR-RFRCBANKS
DEM-FIBOR-FIBO-OLD
DEM-FIBOR-FIBO
DEM-FIBOR-GBA
DEM-FIBOR-ISDB
DEM-FIBOR-RFRCBANKS
DEM-LIBOR-BBA
DEM-LIBOR-ISDA
DEM-LIBOR-RFRCBANKS
DKK-CIBOR-DKNH
FIM-HELIBOR-RFRCBANKS
FIM-HELIBOR-SPFB
FRF-CAP-T4M
FRF-CAP-TAM
FRF-FLOOR-T4M
FRF-FLOOR-TAM
FRF-LIBOR-BBA
FRF-LIBOR-RFRCBANKS
FRF-PIBOR-AFB
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FRF-PIBOR-PIBO
FRF-PIBOR-RFRCBANKS
FRF-SWAP-AMR
FRF-SWAP-T4M-AMR
FRF-SWAP-T4M
FRF-SWAP-T4M-TAM
FRF-SWAP-TAM
FRF-SWAP-TMP-IF
FRF-SWAP-TMP-M
FRF-T4M-CDC
FRF-T4M-CDCCOMP
FRF-TAG-CDC
FRF-TAG-CDCCOMP
FRF-TAM-CDC
FRF-TME-CDC
FRF-TMP-CDCAVERAG
GRD-ATHIBOR-ATHIBOR
GRD-ATHIBOR-RFRCBANKS
GRD-ATHIBOR-TELERATE
GRD-ATHIMID-REUTERS
GRD-ATHIMID-RFRCBANKS
ITL-LIBOR-BBA
ITL-LIBOR-ILIR
ITL-LIBOR-ITFX
ITL-LIBOR-ITFY
ITL-LIBOR-RFRCBANKS
ITL-MIBOR-PUBLISHED
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JPY-TIBOR-TIBM
LUF-LUXIBOR-ISDB
LUF-LUXIBOR-RFRCBANKS
MYR-SOR-RFRCBANKS
MYR-SOR-TELERATE
NLG-AIBOR-AIBODOM
NLG-AIBOR-AIBOEURO
NLG-AIBOR-ISDB
NLG-AIBOR-RFRCBANKS
PTE-LIBOR-BBA
PTE-LIBOR-RFRCBANKS
PTE-LISBOR-LBOA
PTE-LISBOR-LBOF
PTE-LISBOR-RFRCBANKS
SEK-EDOR-FP
SEK-EDOR-RFRCBANKS
SPP-LIBOR-BBA
SPP-LIBOR-RFRCBANKS
SPP-MIBOR-BANDE
SPP-MIBOR-RFRCBANKS
USD-CP-ISDD
ZAR-BBF-RFRCBANKS
ZAR-BBF3-SAFEX(YIELD)
USAGE RULES
The floating rate options, as they appear in the current ISDA Definitions, may be used.
Blanks must not be used.
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21. Field 30V: Fixing Date
FORMAT
Option V 8!n (Date)
PRESENCE
Mandatory in a conditional (C3) subsequence
DEFINITION
This date specifies the fixing date of the settlement rate.
NETWORK VALIDATED RULES
Date must be a valid date expressed as YYYYMMDD (Error code(s): T50).
22. Field 38D: Contract Period
FORMAT
Option D 4n (Period)
PRESENCE
Mandatory in a conditional (C3) subsequence
DEFINITION
This date specifies the number of days between the settlement date and the maturity date.
23. Field 38G: Designated Maturity
FORMAT
Option G 2n1!a/2n1!a (Number-From) (Period-From) (Number-To) (Period-To)
PRESENCE
Mandatory
DEFINITION
This field specifies the designated maturities of the rate source.
For an ISDA Master (Type in field 77H = ISDA), this field specifies the Designated Maturity as per ISDA definitions.
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CODES
Period-From and Period-To must be specified using one of the following codes (Error code(s): T48):
D Daily.
M Monthly.
O The designated maturity is specified in field 72.
W Weekly.
Y Yearly.
USAGE RULES
This field specifies the tenor for the interest rate. Eg, a deal that starts in 3 months and ends in 9, has a 6 months tenor; inthis case 38G contains 6M/6M as it is the 6 months rate; here both subfields have the same value.
For interpolation, this field specifies the two designated maturities.
When there is no interpolation, Period-From and Period-To must be the same designated maturity.
24. Field 14D: Floating Rate Day Count Fraction
FORMAT
Option D 7x (Day Count Fraction)
PRESENCE
Mandatory
DEFINITION
This field specifies the number of days taken into account for the calculation of the interest.
For an ISDA Master (Type in field 77H = ISDA), this field specifies the Day Count Fraction as per ISDA definitions.
CODES
One of the following code words must be used (Error code(s): T36):
ACT/365 ’Actual/365’, ’Actual/Actual’.
AFI/365 ’Actual/365 (fixed)’.
ACT/360 ’Actual/360’.
360/360 ’30/360’, ’360/360’ or ’Bond Basis’.
30E/360 ’30E/360’ or ’Eurobond Basis’.
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EXA/EXA ’Base Exact/Exact’ as per September 1994 additives to AFB definitions or ’1/1’.
OTHER The Day Count Fraction is specified in field 72.
25. Field 17F: FRA Discounting
FORMAT
Option F 1!a (Flag)
PRESENCE
Mandatory
DEFINITION
This field specifies whether FRA discounting is applicable or not.
CODES
The following codes must be used (Error code(s): T36):
N FRA discounting is not applicable.
Y FRA discounting is applicable.
USAGE RULES
In a FRA where FRA discounting is not applicable, the calculation on fixing date is done as follows:
Floating amount = notional amount * settlement rate * day count fraction.
Fixed amount = notional amount * contract rate * day count fraction.
If floating amount > fixed amount, then the FRA seller pays the difference between the two amounts to the buyer.
If floating amount < fixed amount, then the FRA buyer pays the difference between the two amounts to the seller.
When FRA discounting is applicable, the FRA amount is calculated as follows:
FRA amount = (notional amount * ((settlement rate - contract rate) *day count fraction)) / (1 +(settlement rate * day count fraction)).
If the FRA amount is positive, this amount is paid by the FRA seller to the buyer.
If the FRA amount is negative, this amount is paid by the FRA buyer to the seller.
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26. Field 18A: Number of Repetitions
FORMAT
Option A 5n (Number)
PRESENCE
Mandatory
DEFINITION
This field specifies the number of financial centres in the same sequence.
NETWORK VALIDATED RULES
The value of this field must be equal to the number of repetitions of field 22B (Error code(s): D96).
27. Field 22B: Financial Centre
FORMAT
Option B 4!c (Financial Centre)
PRESENCE
Mandatory
DEFINITION
This field specifies the financial centres (Business Days) used to adjust the dates.
CODES
One of the following codes can be used:
Code Financial Center
ARBA Buenos Aires
ATVI Vienna
AUME Melbourne
AUSY Sydney
BEBR Brussels
BRSP São Paulo
CAMO Montreal
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Code Financial Center
CATO Toronto
CHGE Geneva
CHZU Zurich
CLSA Santiago
CNBE Beijing
CZPR Prague
DEFR Frankfurt
DKCO Copenhagen
EETA Tallinn
ESMA Madrid
EUTA Target
FIHE Helsinki
FRPA Paris
GBLO London
GRAT Athens
HKHK Hong Kong
HUBU Budapest
IDJA Jakarta
IEDU Dublin
ILTA Tel Aviv
ITMI Milan
ITRO Rome
JPTO Tokyo
KRSE Seoul
LBBE Beirut
LULU Luxembourg
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Code Financial Center
MYKL Kuala Lumpur
MXMC Mexico City
NLAM Amsterdam
NOOS Oslo
NYFD New York Fed
NYSE New York Stock Exchange
NZAU Auckland
NZWE Wellington
PAPC Panama City
PHMA Manila
PLWA Warsaw
PTLI Lisbon
RUMO Moscow
SARI Riyadh
SEST Stockholm
SGSI Singapore
SKBR Bratislava
THBA Bangkok
TRAN Ankara
TWTA Taipei
USCH Chicago
USLA Los Angeles
USGS U.S. Governement Securities
USNY New York
ZAJO Johannesburg
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USAGE RULES
The codes are based on the ISO country code and the English name of the location.
Additional location codes must be built as follows: the first 2 characters represent the ISO country code, the next two char-acters represent 1) if the location name is one word, the first two letters of the location 2) if the location name consists of atleast two words, the first letter of the first word followed by the first letter of the second word.
If new financial centres are added and codes are used which might cause confusion (eg, Dallas and Dayton in the US), thecode word OTHR must be used. Field 72 must then contain: /LOCC/+ English location name.
All applicable financial centres must be included in the same repetitive block and ordered alphabetically (for matching purposes).
28. Field 15C: New Sequence
FORMAT
Option C Empty Field
PRESENCE
Mandatory
DEFINITION
This field specifies the start of mandatory sequence C Settlement Instructions for Settlement Amount Payable by Party B.
USAGE RULES
Only the field tag must be present, the field is empty.
29. Field 53a: Delivery Agent
FORMAT
Option A [/1!a][/34x] 4!a2!a2!c[3!c]
(Party Identifier)(BIC)
Option D [/1!a][/34x] 4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Optional
DEFINITION
This field identifies the financial institution from which party B will transfer the funds.
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CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC or UKWN if BIC not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/ or O followed by a clearing code
/NETS/ or M A net settlement is taking place.
/SSIS/ M Standard settlement instructions are used.
M = Mandatory O = Optional
NETWORK VALIDATED RULES
The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
The BIC must not be a BEI, ie, must not be of subtype BEID, MCCO, TESP or TRCO (Error code(s): C05).
USAGE RULES
For matching purposes, option A must be used when available.
Field 53a is used only when the payer wants to inform the payee where the funds come from.
Please refer to the chapter Guidelines for this MT.
30. Field 86a: Intermediary 2
FORMAT
Option A [/1!a][/34x] 4!a2!a2!c[3!c]
(Party Identifier)(BIC)
Option D [/1!a][/34x] 4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
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PRESENCE
Conditional (C8)
DEFINITION
This field identifies the second intermediary institution for the transfer of the funds.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC or UKWN if BIC not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/ or O followed by a clearing code
/NETS/ or M A net settlement is taking place.
/SSIS/ M Standard settlement instructions are used.
M = Mandatory O = Optional
NETWORK VALIDATED RULES
The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
The BIC must not be a BEI, ie, must not be of subtype BEID, MCCO, TESP or TRCO (Error code(s): C05).
USAGE RULES
This field is used when there is a second financial institution between the delivery institution and the receiving institution. Inthe payment chain, this intermediary comes before the first intermediary.
For matching purposes, option A must be used when available.
Please refer to the chapter Guidelines for this MT.
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31. Field 56a: Intermediary
FORMAT
Option A [/1!a][/34x] 4!a2!a2!c[3!c]
(Party Identifier)(BIC)
Option D [/1!a][/34x] 4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Optional
DEFINITION
This field identifies the first intermediary institution for the transfer of the funds.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC or UKWN if BIC not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/ or O followed by a clearing code
/NETS/ or M A net settlement is taking place.
/SSIS/ M Standard settlement instructions are used.
M = Mandatory O = Optional
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NETWORK VALIDATED RULES
The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
The BIC must not be a BEI, ie, must not be of subtype BEID, MCCO, TESP or TRCO (Error code(s): C05).
USAGE RULES
This field is used when there is at least one financial institution between the delivery institution and the receiving institution.
For matching purposes, option A must be used when available.
Please refer to the chapter Guidelines for this MT.
32. Field 57a: Receiving Agent
FORMAT
Option A [/1!a][/34x] 4!a2!a2!c[3!c]
(Party Identifier)(BIC)
Option D [/1!a][/34x] 4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Mandatory
DEFINITION
This field identifies the financial institution and account where party A will receive the funds.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC or UKWN if BIC not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
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/CLRC/ or O followed by a clearing code
/NETS/ or M A net settlement is taking place.
/SSIS/ M Standard settlement instructions are used.
M = Mandatory O = Optional
CODES
With option D, one of the following codes may also be used:
NET When net settlement takes place
NONE When no settlement is taking place.
SSI When standing settlement instructions apply.
UNKNOWN When the settlement instructions are not known.
NETWORK VALIDATED RULES
The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
The BIC must not be a BEI, ie, must not be of subtype BEID, MCCO, TESP or TRCO (Error code(s): C05).
USAGE RULES
For matching purposes, option A must be used when available.
Party Identifier in options A and D may be used to indicate a CHIPS Universal Identifier. When used, it must be precededby a double slash ’//’, and the code CH and 6 digits.
Please refer to the chapter Guidelines for this MT.
33. Field 58a: Beneficiary Institution
FORMAT
Option A [/1!a][/34x] 4!a2!a2!c[3!c]
(Party Identifier)(BIC/BEI)
Option D [/1!a][/34x] 4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Optional
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DEFINITION
This field specifies the institution in favour of which the payment is made when different from party A.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC/BEI or UKWN if BIC/BEI not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/ O followed by a clearing code
M = Mandatory O = Optional
NETWORK VALIDATED RULES
The BIC/BEI must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
USAGE RULES
For matching purposes, option A must be used when available.
Please refer to the chapter Guidelines for this MT.
34. Field 15D: New Sequence
FORMAT
Option D Empty Field
PRESENCE
Mandatory
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DEFINITION
This field specifies the start of mandatory sequence D Settlement Instructions for Settlement Amount Payable by Party A.
USAGE RULES
Only the field tag must be present, the field is empty.
35. Field 53a: Delivery Agent
FORMAT
Option A [/1!a][/34x] 4!a2!a2!c[3!c]
(Party Identifier)(BIC)
Option D [/1!a][/34x] 4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Optional
DEFINITION
This field identifies the financial institution from which party A will transfer the funds.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC or UKWN if BIC not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/or
O followed by a clearing code
/NETS/or
M A net settlement is taking place.
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/SSIS/ M Standard settlement instructions are used.
M = Mandatory O = Optional
NETWORK VALIDATED RULES
The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
The BIC must not be a BEI, ie, must not be of subtype BEID, MCCO, TESP or TRCO (Error code(s): C05).
USAGE RULES
For matching purposes, option A must be used when available.
Field 53a is used only when the payer wants to inform the payee where the funds come from.
Please refer to the chapter Guidelines for this MT.
36. Field 86a: Intermediary 2
FORMAT
Option A [/1!a][/34x] 4!a2!a2!c[3!c]
(Party Identifier)(BIC)
Option D [/1!a][/34x] 4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Conditional (C8)
DEFINITION
This field identifies the second intermediary institution for the transfer of the funds.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC or UKWN if BIC not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
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/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/or
O followed by a clearing code
/NETS/or
M A net settlement is taking place.
/SSIS/ M Standard settlement instructions are used.
M = Mandatory O = Optional
NETWORK VALIDATED RULES
The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
The BIC must not be a BEI, ie, must not be of subtype BEID, MCCO, TESP or TRCO (Error code(s): C05).
USAGE RULES
This field is used when there is a second financial institution between the delivery institution and the receiving institution. Inthe payment chain, this intermediary comes before the first intermediary.
For matching purposes, option A must be used when available.
Please refer to the chapter Guidelines for this MT.
37. Field 56a: Intermediary
FORMAT
Option A [/1!a][/34x] 4!a2!a2!c[3!c]
(Party Identifier)(BIC)
Option D [/1!a][/34x] 4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Optional
DEFINITION
This field identifies the first intermediary institution for the transfer of the funds.
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CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC or UKWN if BIC not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/or
O followed by a clearing code
/NETS/or
M A net settlement is taking place.
/SSIS/ M Standard settlement instructions are used.
M = Mandatory O = Optional
NETWORK VALIDATED RULES
The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
The BIC must not be a BEI, ie, must not be of subtype BEID, MCCO, TESP or TRCO (Error code(s): C05).
USAGE RULES
This field is used when there is at least one financial institution between the delivery institution and the receiving institution.
For matching purposes, option A must be used when available.
Please refer to the chapter Guidelines for this MT.
38. Field 57a: Receiving Agent
FORMAT
Option A [/1!a][/34x] 4!a2!a2!c[3!c]
(Party Identifier)(BIC)
Option D [/1!a][/34x] 4*35x
(Party Identifier)(Name & Address)
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Option J 5*40x (Party Identification)
PRESENCE
Mandatory
DEFINITION
This field identifies the financial institution and account where party B will receive the funds.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC or UKWN if BIC not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/or
O followed by a clearing code
/NETS/or
M A net settlement is taking place.
/SSIS/ M Standard settlement instructions are used.
M = Mandatory O = Optional
CODES
With option D, one of the following codes may also be used:
NET When net settlement takes place
NONE When no settlement is taking place.
SSI When standing settlement instructions apply.
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UNKNOWN When the settlement instructions are not known.
NETWORK VALIDATED RULES
The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
The BIC must not be a BEI, ie, must not be of subtype BEID, MCCO, TESP or TRCO (Error code(s): C05).
USAGE RULES
For matching purposes, option A must be used when available.
Party Identifier in options A and D may be used to indicate a CHIPS Universal Identifier. When used, it must be precededby a double slash ’//’, and the code CH and 6 digits.
Please refer to the chapter Guidelines for this MT.
39. Field 58a: Beneficiary Institution
FORMAT
Option A [/1!a][/34x] 4!a2!a2!c[3!c]
(Party Identifier)(BIC/BEI)
Option D [/1!a][/34x] 4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Optional
DEFINITION
This field specifies the institution in favour of which the payment is made if different from party B.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC/BEI or UKWN if BIC/BEI not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
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/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/ O followed by a clearing code
M = Mandatory O = Optional
NETWORK VALIDATED RULES
The BIC/BEI must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
USAGE RULES
For matching purposes, option A must be used when available.
Please refer to the chapter Guidelines for this MT.
40. Field 15E: New Sequence
FORMAT
Option E Empty Field
PRESENCE
Mandatory in a conditional (C4, C5, C6, C7, C9) sequence
DEFINITION
This field specifies the start of optional sequence E Additional Information.
USAGE RULES
Only the field tag must be present, the field is empty.
41. Field 29A: Contact Information
FORMAT
Option A 4*35x Narrative
PRESENCE
Conditional (C10) in a conditional (C4, C5, C6, C7, C9) sequence
DEFINITION
This field specifies the name and/or telephone number of the person the Receiver may contact for any queries concerningthis transaction.
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CODES
At least one of the following should be used:
/DEPT/ followed by the name of the department
/FAXT/ followed by fax number
/NAME/ followed by the name of the contact person
/PHON/ followed by the telephone number
/TELX/ followed by the telex number
USAGE RULES
The codes do not need to be put on separate lines. It is the ’/’ at the beginning of a code and not the end-of-line that marksthe end of the information behind the previous code.
42. Field 24D: Dealing Method
FORMAT
Option D 4!c[/35x] (Code) (Additional Information)
PRESENCE
Conditional (C10) in a conditional (C4, C5, C6, C7, C9) sequence
DEFINITION
This field specifies how the deal was agreed.
CODES
Code must contain one of the following, optionally followed with Additional Information (Error code(s): T68):
/BROK/ Deal made via a money broker.
/ELEC/ Deal made via an electronic system (Reuters, EBS etc.).
/FAXT/ Deal agreed per fax.
/PHON/ Deal agreed on the phone.
/TELX/ Deal agreed by telex.
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USAGE RULES
For voice brokers this field contains the code BROK. If the broker needs to be identified explicitly, field 88a must be used.
43. Field 88a: Broker Identification
FORMAT
Option A [/1!a][/34x] 4!a2!a2!c[3!c]
(Party Identifier)(BIC/BEI)
Option D [/1!a][/34x] 4*35x
(Party Identifier)(Name & Address)
PRESENCE
Conditional (C9, C10) in a conditional (C4, C5, C6, C7, C9) sequence
DEFINITION
This field identifies the broker who arranged the deal between party A and party B or, when two money brokers areinvolved, between party A and the other money broker.
For matching purposes, option A must be used when available.
NETWORK VALIDATED RULES
The BIC/BEI must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
USAGE RULES
This field is only used to identify voice brokers. Electronic brokerage systems must be identified in field 24D Dealing Method.
44. Field 71F: Broker’s Commission
FORMAT
Option F 3!a15d (Currency) (Amount)
PRESENCE
Conditional (C9, C10) in a conditional (C4, C5, C6, C7, C9) sequence
DEFINITION
This field specifies the brokerage fee for a broker confirmation.
NETWORK VALIDATED RULES
Currency must be a valid ISO 4217 currency code (Error code(s): T52).
The integer part of Amount must contain at least one digit. A decimal comma is mandatory and is included in the maximumlength. The number of digits following the comma must not exceed the maximum number allowed for the specifiedcurrency (Error code(s): C03, T40, T43).
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45. Field 21G: Broker’s Reference
FORMAT
Option G 16x (Reference)
PRESENCE
Conditional (C10) in a conditional (C4, C5, C6, C7, C9) sequence
DEFINITION
This field specifies the broker’s reference of the trade.
NETWORK VALIDATED RULES
This field must not start or end with a slash ’/’ and must not contain two consecutive slashes ’//’ (Error code(s): T26).
46. Field 72: Sender to Receiver Information
FORMAT
6*35x (Narrative - Structured Format)
The following line format must be used:
Line 1 /8c/[additional information] Lines 2-6 [//continuation of additional information]
or[/8c/[additional information]]
PRESENCE
Conditional (C4, C5, C6, C7, C10) in a conditional (C4, C5, C6, C7, C9) sequence
DEFINITION
This field specifies additional information for the Receiver and applies to the whole messages.
USAGE RULES
If the Floating Rate Option is equal to OTHER, the code word /FROP/ must be used followed by the Floating Rate Option.
If the value of ’Period-from’ in the first subfield is equal to ’O’, the code word /DESM/ must be used followed by the Designated Maturity.
If the Floating Rate Day Count Fraction is equal to OTHER, the code word /DCTF/ must be used followed by the DayCount Fraction.
If the Financial Centre is equal to OTHR, the code word /LOCC/ must be used followed by the financial centre.
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Bilaterally agreed codes can also be used in this field.
Each code used must be put between slashes and appear at the beginning of a line.
All alphabetic characters in a code must be in upper case.
Additional explanatory information, which may be continued on the next lines, is preceded by a double slash ’//’. Narrativetext that is not qualified by a code must start with a double slash ’//’ on a new line, and should preferably be the last infor-mation in this field.
Field 72 must not be used for information for which another field is intended.
The use of this field with unstructured text may require manual intervention and thus cause delay in automated systems.
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MT 341 Forward Rate Agreement Settlement Confirmation
MT 341 ScopeThis message is exchanged by or on behalf of the institutions or corporates, party A and party B, who have agreed to aforward rate agreement (FRA).
It is used to confirm the settlement details of the forward rate agreement when the settlement rate has been fixed on thefixing date.
The message is also used for:
an amendment to a previously agreed settlement messagethe cancellation of a settlement message.
MT 341 Format SpecificationsThe MT 341 consists of 3 sequences:
Sequence A General Information contains general information about the FRA as well as about the confirmation itselfSequence B Transaction Details contains information about the transactionSequence C Settlement Instructions for the Settlement Amount provides the settlement instructions
MT 341 Forward Rate Agreement Settlement Confirmation
Status Tag Field Name Content/Options No.
Mandatory Sequence A General Information
M 15A New Sequence (CrLf) 1
M 20 Sender’s Reference 16x 2
O 21 Related Reference 16x 3
M 22A Type of Operation 4!c 4
O 94A Scope of Operation 4!c 5
M 22C Common Reference 4!a2!c4!n4!a2!c 6
M 23D Type of FRA 10a 7
O 21N Contract Number Party A 16x 8
O 21B Contract Number Party B 16x 9
M 82a Party A A or D 10
M 87a Party B A or D 11
O 29A Contact Information 4*35x 12
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Status Tag Field Name Content/Options No.
O 72 Sender to Receiver Information 6*35x 13
Mandatory Sequence B Transaction Details
M 15B New Sequence (CrLf) 14
M 30T Trade Date 8!n 15
M 32B Currency, Notional Amount 3!a15d 16
M 30F Effective Date 8!n 17
M 30P Termination Date 8!n 18
M 37M Fixed Rate [N]12d 19
Optional Subsequence B1 AFB and FRABBA Details
O 30V Fixing Date 8!n 20
O 38D Contract Period 4n 21
Mandatory Sequence C Settlement Instructions for the Settlement Amount
M 15C New Sequence (CrLf) 22
M 37R Settlement Rate [N]12d 23
M 34E Settlement Currency and Amount [N]3!a15d 24
O 53a Delivery Agent A, D or J 25
O 86a Intermediary 2 A, D or J 26
O 56a Intermediary A, D or J 27
M 57a Receiving Agent A, D or J 28
O 58a Beneficiary Institution A, D or J 29
M = Mandatory O = Optional
MT 341 Network Validated RulesC1
In sequence A, the presence of field 21 depends on the value of field 22A as follows (Error code(s): D02):
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Sequence Aif field 22A is...
Sequence Athen field 21 is...
AMND Mandatory
CANC Mandatory
SETT Optional
C2
In sequence C, if field 56a is not present, then field 86a in sequence C is not allowed, otherwise field 86a is optional(Error code(s): E35).
Sequence Cif field 56a is...
Sequence Cthen field 86a is...
Not Present Not Allowed
Present Optional
C3
In sequence B, if field 30V is present, then field 38D in sequence B is mandatory, otherwise field 38D is not allowed(Error code(s): D60).
In other words, in sequence B, fields 30V and 38D must either be both present or both absent, and together form theoptional subsequence B1 called AFB and FRABBA Details.
Sequence Bif field 30V is...
Sequence Bthen field 38D is...
Present Mandatory
Not Present Not Allowed
MT 341 Usage RulesThis message only confirms the settlement details of the forward rate agreement. For the actual transfer of funds at settlement or the confirmation of debits and credits, other messages outside Category 3 are available (eg, MT 202, 203,205, 900, 910, 950).
In all cases, the Common Reference of the MT 341 must be quoted in the relevant reference field, ie, field 21 of theMT 202, 203, 205.
Only one of the financial institutions involved in a contract will send a settlement confirmation to the second financial institution when there is a retransmission due to errors in a previously sent settlement confirmation.To cancel a previously sent message (field 22A is CANC):
field 21 must contain the reference, ie, the content of field 20, of the message containing the instruction to be cancelledthe cancellation message must contain at least the mandatory fields of the original message.
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To amend a previously sent message (field 22A is AMND):field 21 must contain the reference, ie, the content of field 20, of the message containing the instruction to be amendedthe amendment message must contain both the unchanged and the changed/new fields of the original messagethe amendment message replaces the original message.
The MT 341 is used to confirm the settlement details between two parties, A and B:
It can also be exchanged on behalf of an institution or corporate:
Party A and party B are the legal entities which have agreed to the transaction.
Party A is either:
the Senderthe institution/corporate on whose behalf the message is sent
Party B is either:
the Receiverthe institution/corporate on whose behalf the message is received
MT 341 GuidelinesThe MT 392 can also be used for cancellation. The following issues however, have to be considered:
Acknowledgement: by sending the MT 392, the sender requests the receiver to cancel the confirmation previously sent.The receiver must acknowledge the request by sending an MT 396 back to the sender of the MT 392.Routing: the MT 392 might not be routed to the same destination as the MT 341 to be cancelled.Repetition of the original message: in the MT 392, only the sender’s reference of the previous message is mandatory,
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all other fields are optional. When an MT 341 with CANC is used, the fields to be copied are mandated by the stan-dard.
Settlement Details
The table below shows how the different settlement parties involved in the deal can be identified. The table is presentedfrom party A’s point of view.
Whenever possible, users should use option A to identify institutions in these fields. Use of free text, ie, option D, exceptwhen used to specify recognized code words, is strongly discouraged. Option D not only precludes party B from matchingand further processing the message automatically but also is contrary to the message text standards which state that option Dis only to be used when no other option is available.
Option J is only used when exchanging messages with fund managers.
Normally, the beneficiary is party A for the amount bought and party B for the amount sold. If party A or party B forwardsthe funds to an ultimate beneficiary institution, this institution is included in field 58a.
Party A services account of party B. No separate settlement messages are sent.
Party A will RECEIVE funds from Party B Party A will PAY funds to Party B
Party A will debit party B’s account. Party A will credit party B’s account
:53a: not used :53a: not used
:86a: not used :86a: not used
:56a: not used :56a: not used
:57a:[/account no of party B]party A
:57a:[/account no of party B]party A
Party B services account of party A. No separate settlement messages are sent.
Party A will RECEIVE funds from Party B Party A will PAY funds to Party B
Party B will credit party A’s account Party B will debit party A’s account
:53a: not used :53a: not used
:86a: not used :86a: not used
:56a: not used :56a: not used
:57a:[/account no of party A]party B
57a:[/account no of party A]party B
Beneficiary’s account serviced by a financial institution other than party A or party B. The payer sends an MT 202 toits correspondent who will then send an MT 205 or equivalent to the correspondent of the payee. The correspondentcan be a branch of the party.
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Party A will RECEIVE funds from Party B Party A will PAY funds to Party B
Credit to party A’s account with that financial institution
Credit to party B’s account with that financial insti-tution
[:53a: Correspondent of party B] [:53a: Correspondent of party A]
:86a: not used :86a: not used
:56a: not used :56a: not used
:57a:[/account no of party A]correspondent of party A
:57a:[/account no of party B]correspondent of party B
Beneficiary receives the funds through another institution (eg, BANK x for party x).
The payer sends an MT 202 to its correspondent. The correspondent will then send an MT 205 or equivalent to the correspondent of BANK x, ie, CORR x. CORR x will then send an MT 202 to BANK x who will then send an MT 950to party x.
Field 56a identifies where BANK x will receive the funds.
Party A will RECEIVE funds from Party B Party A will PAY funds to Party B
BANK A will receive the funds for party A BANK B will receive the funds for party B
[:53a:Correspondent of party B] [:53a:Correspondent of party A]
:86a: not used :86a: not used
:56a:[/account no of BANK A]CORR A
:56a:[/account no of BANK B]CORR B
:57a:[/account no of party A]BANK A
:57a:[/account no of party B]BANK B
Beneficiary receives the funds through another institution (eg, BANK x for party x), the correspondent of BANK x,CORR x also uses a correspondent.
The payer sends an MT 202 to its correspondent. The correspondent will then send an MT 205 or equivalent to the correspondent of CORR x. The correspondent of CORR x will then send an MT 202 to CORR x. CORR x will thensend an MT 202 to BANK x who will then send an MT 950 to party x.
Field 86a identifies where CORR x will receive the funds.
Field 56a identifies the correspondent of BANK x.
Party A will RECEIVE funds from Party B Party A will PAY funds to Party B
BANK A will receive the funds for party A viaCORR A
BANK B will receive the funds for party B viaCORR B
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Party A will RECEIVE funds from Party B Party A will PAY funds to Party B
[:53a:Correspondent of party B] [:53a:Correspondent of party A]
:86a:[/account of CORR A]correspondent of CORR A
:86a:[/account no of CORR B]correspondent of CORR B
:56a:[/account no of BANK A]CORR A
:56a:[/account no of BANK B]CORR B
:57a:[/account no of partyA]BANK A
:57a:[/account no of party B]BANK B
Beneficiary to receive the funds directly through a clearing system.
The payer sends an MT 202 to its correspondent who will then send an MT 202 the payee.
Party A will RECEIVE funds from Party B Party A will PAY funds to Party B
Party A will receive the funds through clearing Party B will receive the funds through clearing
[:53a:Correspondent of party B] [:53a:Correspondent of party A]
:86a: not used :86a: not used
:56a: not used :56a: not used
:57a:/CLEARparty A
:57a:/CLEARparty B
The counterparties use their standing settlement instructions.
Party A will RECEIVE funds from Party B Party A will PAY funds to Party B
:53a: not used :53a: not used
:86a: not used :86a: not used
:56a: not used :56a: not used
:57D:SSI :57D:SSI
The payment flows are netted based on a bilateral agreement.
Party A will RECEIVE funds from Party B Party A will PAY funds to Party B
:53a: not used :53a: not used
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Party A will RECEIVE funds from Party B Party A will PAY funds to Party B
:86a: not used :86a: not used
:56a: not used :56a: not used
:57D:NET :57D:NET
There is no payment (amount is zero) or the settlement details are irrelevant.
Party A will RECEIVE funds from Party B Party A will PAY funds to Party B
:53a: not used :53a: not used
:86a: not used :86a: not used
:56a: not used :56a: not used
:57D:NONE :57D:NONE
The settlement details are not known at the time the confirmation is issued.
Party A will RECEIVE funds from Party B Party A will PAY funds to Party B
:53a: not used :53a: not used
:86a: not used :86a: not used
:56a: not used :56a: not used
:57D:UNKNOWN :57D:UNKNOWN
Note: It is only necessary to quote an account number when multiple accounts are serviced for the same institution.
MT 341 Field Specifications
1. Field 15A: New Sequence
FORMAT
Option A Empty Field
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PRESENCE
Mandatory
DEFINITION
This field specifies the start of mandatory sequence A General Information.
USAGE RULES
Only the field tag must be present, the field is empty.
2. Field 20: Sender’s Reference
FORMAT
16x (Reference)
PRESENCE
Mandatory
DEFINITION
This field specifies the reference assigned by the Sender to unambiguously identify the message.
NETWORK VALIDATED RULES
This field must not start or end with a slash ’/’ and must not contain two consecutive slashes ’//’ (Error code(s): T26).
USAGE RULES
The reference assigned to a message is used for cross-referencing purposes in subsequent messages, such as following confirmation and statement messages as well as queries. It is therefore essential for the identification of the original messagesent that this reference be unique.
3. Field 21: Related Reference
FORMAT
16x (Reference)
PRESENCE
Conditional (C1)
DEFINITION
This field contains the identification of the message to which the current message is related.
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NETWORK VALIDATED RULES
This field must not start or end with a slash ’/’ and must not contain two consecutive slashes ’//’ (Error code(s): T26).
USAGE RULES
When used, this field must contain the Sender’s reference (field 20) of the previous confirmation which is to be amended orcancelled by this message.
4. Field 22A: Type of Operation
FORMAT
Option A 4!c (Function)
PRESENCE
Mandatory
DEFINITION
This field specifies the function of the message.
CODES
Function must contain one of the following codes (Error code(s): T36):
AMND Replaces a previously sent message with the amended one contained in this message.Used to add settlement agents to an MT 341 previously sent-or-to correct error(s) in an MT 341 previously sent.
CANC Cancels a previously sent message.Used to cancel an MT 341 previously sent-or-to cancel an MT 341 which contains erroneous information.
SETT New settlement confirmation.Used to send the MT 341 for the first time-or-to send a corrected MT 341 when the erroneous one was cancelled using an MT 341 with function CANC.
USAGE RULES
As the amend message replaces the previously sent confirmation, it must contain both the amended fields and the fieldswhich are not changed.
When the cancel function is used, the message must reconfirm at least the mandatory fields of the original transaction.
An amendment or cancellation message always refers to a previous confirmation.
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5. Field 94A: Scope of Operation
FORMAT
Option A 4!c (Scope)
PRESENCE
Optional
DEFINITION
This field specifies the role of the Sender and the Receiver of the message in the conclusion of the confirmed trade
CODES
Scope must contain one of the following codes (Error code(s): T36):
AGNT Sender/Receiver is sending/receiving the message on behalf of a third party.
BILA Bilateral confirmation, ie, Sender and Receiver are the principles.
USAGE RULES
The absence of this field means that the Sender and the Receiver are the principals.
AGNT is used when the confirmation has been sent or received on behalf of a separate legal party and that party has donethe deal.
6. Field 22C: Common Reference
FORMAT
Option C 4!a2!c4!n4!a2!c (Bank Code 1) (Location Code 1) (Reference Code) (BankCode 2) (Location Code 2)
PRESENCE
Mandatory
DEFINITION
This field contains a reference common to both the Sender and the Receiver.
NETWORK VALIDATED RULES
This field consists of the bank and location codes (Error code(s): T95) (from the ISO Bank Identifier Code) of both theSender and the Receiver of the MT 341. These codes must appear in alphabetical order (letters take precedence overnumbers) (Error code(s): T96).
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Location Code 1 and Bank Code 2 are separated by four digits, which must consist of the rightmost non-zero digits of thecontract rate (field 37M in sequence B). If there are no digits to the left of it, the space must be zero filled (Error code(s): T22).
7. Field 23D: Type of FRA
FORMAT
Option D 10a (Type)
PRESENCE
Mandatory
DEFINITION
This field specifies the type of FRA for which the settlement is done.
CODES
Type must contain one of the following codes (Error code(s): T48):
FIXEDFLOAT Party A is the FRA buyer, ie, pays the fixed and receives the floating rate.
FLOATFIXED Party A is the FRA seller, ie, receives the fixed and pays the floating rate.
8. Field 21N: Contract Number Party A
FORMAT
Option N 16x (Contract Number)
PRESENCE
Optional
DEFINITION
This field specifies the contract number of the transaction from party A’s viewpoint.
USAGE RULES
This field must remain the same throughout the whole life of the transaction. It is used by party A to link the settlementmessage to the original transaction.
9. Field 21B: Contract Number Party B
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FORMAT
Option B 16x (Contract Number)
PRESENCE
Optional
DEFINITION
This field specifies the contract number of the transaction from party B’s viewpoint.
USAGE RULES
This field should be used by party A whenever the information is available. It is used by party B to link the settlementmessage to the original transaction.
10. Field 82a: Party A
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC/BEI)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
PRESENCE
Mandatory
DEFINITION
This field identifies party A.
NETWORK VALIDATED RULES
The BIC/BEI must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
USAGE RULES
For matching purposes, option A must be used when available.
Party A is either:
- the sender :94A:BILA, or,
- the institution or corporate on whose behalf the message is sent :94A:AGNT.
11. Field 87a: Party B
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FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC/BEI)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
PRESENCE
Mandatory
DEFINITION
This field identifies party B.
NETWORK VALIDATED RULES
The BIC/BEI must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
USAGE RULES
For matching purposes, option A must be used when available.
Party B is either:
- the receiver :94A:BILA, or,
- the institution or corporate on whose behalf the message is received :94A:AGNT.
12. Field 29A: Contact Information
FORMAT
Option A 4*35x (Narrative)
PRESENCE
Optional
DEFINITION
This field specifies the name and/or telephone number of the person the Receiver may contact for any queries concerningthis transaction.
CODES
At least one of the following should be used:
/DEPT/ followed by the name of the department
/FAXT/ followed by fax number
/NAME/ followed by the name of the contact person
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/PHON/ followed by the telephone number
/TELX/ followed by the telex number
USAGE RULES
The codes do not need to be put on separate lines. It is the ’/’ at the beginning of a code and not the end-of-line that marksthe end of the information behind the previous code.
13. Field 72: Sender to Receiver Information
FORMAT
6*35x (Narrative - Structured Format)
The following line formats must be used:
Line 1 /8c/[additional information] Lines 2-6 [//continuation of additional information]
or[/8c/[additional information]]
PRESENCE
Optional
DEFINITION
This field specifies additional information for the Receiver and applies to the whole message.
USAGE RULES
Only bilaterally agreed codes can be used in this field.
Each code used must be put between slashes and appear at the beginning of a line.
All alphabetic characters in a code must be in upper case.
Additional explanatory information, which may be continued on the next lines, is preceded by a double slash ’//’. Narrativetext that is not qualified by a code must start with a double slash ’//’ on a new line, and should preferably be the last infor-mation in this field.
Field 72 must not be used for information for which another field is intended.
The use of this field with unstructured text may require manual intervention and thus cause delay in automated systems.
14. Field 15B: New Sequence
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FORMAT
Option B Empty Field
PRESENCE
Mandatory
DEFINITION
This field specifies the start of mandatory sequence B Transaction Details.
USAGE RULES
Only the field tag must be present, the field is empty.
15. Field 30T: Trade Date
FORMAT
Option T 8!n (Date)
PRESENCE
Mandatory
DEFINITION
This date specifies the date the original transaction was agreed between party A and party B.
NETWORK VALIDATED RULES
Date must be a valid date expressed as YYYYMMDD (Error code(s): T50).
USAGE RULES
The trade date remains the same when a confirmation is amended (corrected/completed) unilaterally. When the terms of thedeal are renegotiated on a bilateral basis, the trade date reflects the date of renegotiation in the amend message.
16. Field 32B: Currency, Notional Amount
FORMAT
Option B 3!a15d (Currency) (Amount)
PRESENCE
Mandatory
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DEFINITION
This field specifies the currency and notional amount of the FRA.
NETWORK VALIDATED RULES
Currency must be a valid ISO 4217 currency code (Error code(s): T52).
The integer part of Amount must contain at least one digit. A decimal comma is mandatory and is included in the maximumlength. The number of digits following the comma must not exceed the maximum number allowed for the specifiedcurrency (Error code(s): C03, T40, T43).
17. Field 30F: Effective Date
FORMAT
Option F 8!n (Date)
PRESENCE
Mandatory
DEFINITION
This date specifies for FRABBA FRA’s, the settlement date or, for ISDA FRA’s, the Effective Date of the FRA.
NETWORK VALIDATED RULES
Date must be a valid date expressed as YYYYMMDD (Error code(s): T50).
18. Field 30P: Termination Date
FORMAT
Option P 8!n (Date)
PRESENCE
Mandatory
DEFINITION
This date specifies for FRABBA FRA’s, the maturity date or, for ISDA FRA’s, the termination date of the FRA.
NETWORK VALIDATED RULES
Date must be a valid date expressed as YYYYMMDD (Error code(s): T50).
19. Field 37M: Fixed Rate
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FORMAT
Option M [N]12d (Sign) (Rate)
PRESENCE
Mandatory
DEFINITION
This rate specifies for FRABBA FRA’s, the contract rate or, for ISDA FRA’s, the fixed rate of the FRA.
NETWORK VALIDATED RULES
The integer part of Rate must contain at least one digit. A decimal comma is mandatory and is included in the maximumlength (Error code(s): T40, T43).
Sign must not be used when Rate is equal to ’0’ (Error code(s): T14).
USAGE RULES
The rate is quoted following standard banking practice.
Sign must not be present for a positive rate.
Sign must be present for a negative rate.
20. Field 30V: Fixing Date
FORMAT
Option V 8!n (Date)
PRESENCE
Optional
DEFINITION
This date specifies the fixing date of the settlement rate.
NETWORK VALIDATED RULES
Date must be a valid date expressed as YYYYMMDD (Error code(s): T50).
21. Field 38D: Contract Period
FORMAT
Option D 4n (Period)
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PRESENCE
Conditional (C3)
DEFINITION
This date specifies the number of days between the settlement and the maturity date.
22. Field 15C: New Sequence
FORMAT
Option C Empty field
PRESENCE
Mandatory
DEFINITION
This field specifies the start of mandatory sequence C Settlement Instructions for the Settlement Amount.
USAGE RULES
Only the field tag must be present, the field is empty.
23. Field 37R: Settlement Rate
FORMAT
Option R [N]12d (Sign) (Rate)
PRESENCE
Mandatory
DEFINITION
This rate specifies the settlement rate.
NETWORK VALIDATED RULES
The integer part of Rate must contain at least one digit. A decimal comma is mandatory and is included in the maximumlength (Error code(s): T40, T43).
Sign must not be used when Rate is equal to ’0’ (Error code(s): T14).
USAGE RULES
The rate is quoted following standard banking practice.
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24. Field 34E: Settlement Currency and Amount
FORMAT
Option E [N]3!a15d (Sign) (Currency) (Amount)
PRESENCE
Mandatory
DEFINITION
This field specifies the settlement currency and amount of the FRA and also in what direction the settlement is made.
NETWORK VALIDATED RULES
Currency must be a valid ISO 4217 currency code (Error code(s): T52).
The integer part of Amount must contain at least one digit. A decimal comma is mandatory and is included in the maximumlength. The number of digits following the comma must not exceed the maximum number allowed for the specifiedcurrency (Error code(s): C03, T40, T43).
Sign must not be used when Amount is equal to ’0’ (Error code(s): T14).
USAGE RULES
If the amount is positive (Sign is not present), party A pays the settlement amount. If the amount is negative (Sign ispresent), party A receives the settlement amount.
25. Field 53a: Delivery Agent
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Optional
DEFINITION
This field identifies the financial institution from which the payer will transfer the settlement amount.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC or UKWN if BIC not known
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/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/or
O followed by a clearing code
/NETS/or
M A net settlement is taking place.
/SSIS/ M Standard settlement instructions are used.
M = Mandatory O = Optional
NETWORK VALIDATED RULES
The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
The BIC must not be a BEI, ie, must not be of subtype BEID, MCCO, TESP or TRCO (Error code(s): C05).
USAGE RULES
For matching purposes, option A must be used when available.
Field 53a is used only when the payer wants to inform the payee where the funds come from.
Please refer to the chapter Guidelines for this MT.
26. Field 86a: Intermediary 2
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
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PRESENCE
Conditional (C2)
DEFINITION
This field identifies the second intermediary institution for the transfer of the settlement amount.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC or UKWN if BIC not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/or
O followed by a clearing code
/NETS/or
M A net settlement is taking place.
/SSIS/ M Standard settlement instructions are used.
M = Mandatory O = Optional
NETWORK VALIDATED RULES
The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
The BIC must not be a BEI, ie, must not be of subtype BEID, MCCO, TESP or TRCO (Error code(s): C05).
USAGE RULES
This field is used when there is a second financial institution between the delivery institution and the receiving institution. Inthe payment chain, this intermediary comes before the first intermediary.
For matching purposes, option A must be used when available.
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Please refer to the chapter Guidelines for this MT.
27. Field 56a: Intermediary
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Optional
DEFINITION
This field identifies the first intermediary institution for the transfer of the settlement amount.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC or UKWN if BIC not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/or
O followed by a clearing code
/NETS/or
M A net settlement is taking place.
/SSIS/ M Standard settlement instructions are used.
M = Mandatory O = Optional
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NETWORK VALIDATED RULES
The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
The BIC must not be a BEI, ie, must not be of subtype BEID, MCCO, TESP or TRCO (Error code(s): C05).
USAGE RULES
This field is used when there is at least one financial institution between the delivery institution and the receiving institution.
For matching purposes, option A must be used when available.
Please refer to the chapter Guidelines for this MT.
28. Field 57a: Receiving Agent
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
PRESENCE
Mandatory
DEFINITION
This field identifies the financial institution and account where the payee will receive the settlement amount.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC or UKWN if BIC not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
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/CLRC/or
O followed by a clearing code
/NETS/or
M A net settlement is taking place.
/SSIS/ M Standard settlement instructions are used.
CODES
With option D, one of the following codes may also be used:
NET When net settlement takes place
NONE When no settlement is taking place
SSI When standing settlement instructions apply
UNKNOWN When the settlement instructions are not known
M = Mandatory O = Optional
NETWORK VALIDATED RULES
The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
The BIC must not be a BEI, ie, must not be of subtype BEID, MCCO, TESP or TRCO (Error code(s): C05).
USAGE RULES
For matching purposes, option A must be used when available.
Party Identifier in options A and D may be used to indicate a CHIPS Universal Identifier. When used, it must be precededby a double slash ’//’, and the code CH and 6 digits.
Please refer to the chapter Guidelines for this MT.
29. Field 58a: Beneficiary Institution
FORMAT
Option A [/1!a][/34x]4!a2!a2!c[3!c]
(Party Identifier)(BIC/BEI)
Option D [/1!a][/34x]4*35x
(Party Identifier)(Name & Address)
Option J 5*40x (Party Identification)
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PRESENCE
Optional
DEFINITION
This field specifies the institution in favour of which the payment is made when other than one of the parties of the trade.
CODES
With option J, the following codes must be used (Error code(s): T78):
/ABIC/ M followed by the BIC/BEI or UKWN if BIC/BEI not known
/ACCT/ O followed by the account number
/NAME/ M followed by the name
/ADD1/ O followed by the first line of the address
/ADD2/ O followed by the second line of the address
/CITY/ O followed by the city (and state, country)
/USFW/ O followed by FedWire Routing Number
/USCH/ O followed by CHIPS UID
/GBSC/ O followed by UK domestic sort code
/CLRC/ O followed by a clearing code
M = Mandatory O = Optional
NETWORK VALIDATED RULES
The BIC/BEI must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).
USAGE RULES
For matching purposes, option A must be used when available.
Please refer to the chapter Guidelines for this MT.
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Table of Contents
....................... 2Legal Notices
....................... 3Overview
.................... 3Added Message Types
................... 3Removed Message Types
................... 3Modified Message Types
................. 4MT 300 Foreign Exchange Confirmation
...................... 4MT 300 Scope
.................. 6MT 300 Format Specifications
.................. 8MT 300 Network Validated Rules
.................... 9MT 300 Usage Rules
..................... 10MT 300 Guidelines
................ 13MT 300 Field Specifications (updated)
.................. 131. Field 15A: New Sequence
.................. 142. Field 20: Sender’s Reference
.................. 143. Field 21: Related Reference
................. 154. Field 22A: Type of Operation
................. 165. Field 94A: Scope of Operation
................. 166. Field 22C: Common Reference
................. 177. Field 17T: Block Trade Indicator
................ 178. Field 17U: Split Settlement Indicator
.................... 189. Field 82a: Party A
.................... 1910. Field 87a: Party B
............... 2011. Field 83a: Fund or Beneficiary Customer
................ 2112. Field 77D: Terms and Conditions
.................. 2213. Field 15B: New Sequence
................... 2214. Field 30T: Trade Date
................... 2215. Field 30V: Value Date
.................. 2316. Field 36: Exchange Rate
................. 2317. Field 32B: Currency, Amount
................ 2318. Field 53a: Delivery Agent (updated)
................ 2519. Field 56a: Intermediary (updated)
............... 2620. Field 57a: Receiving Agent (updated)
................. 2821. Field 33B: Currency, Amount
................ 2822. Field 53a: Delivery Agent (updated)
................ 2923. Field 56a: Intermediary (updated)
............... 3024. Field 57a: Receiving Agent (updated)
................ 3225. Field 58a: Beneficiary Institution
.................. 3326. Field 15C: New Sequence
................. 3327. Field 29A: Contact Information
.................. 3428. Field 24D: Dealing Method
................ 3529. Field 84a: Dealing Branch Party A
................ 3630. Field 85a: Dealing Branch Party B
................. 3731. Field 88a: Broker Identification
................ 3832. Field 71F: Broker’s Commission
............... 3833. Field 26H: Counterparty’s Reference
................. 3834. Field 21G: Broker’s Reference
............... 3935. Field 72: Sender to Receiver Information
.................. 3936. Field 15D: New Sequence
................. 4037. Field 17A: Buy (Sell) Indicator
................. 4038. Field 32B: Currency, Amount
................ 4139. Field 53a: Delivery Agent (updated)
................ 4240. Field 56a: Intermediary (updated)
............... 4341. Field 57a: Receiving Agent (updated)
................ 4542. Field 58a: Beneficiary Institution
................ 4643. Field 16A: Number of Settlements
............. 47MT 303 Forex/Currency Option Allocation Instruction
...................... 47MT 303 Scope
.................. 47MT 303 Format Specifications
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................... 50MT 303 Network Validated Rules
...................... 51MT 303 Usage Rules
...................... 51MT 303 Guidelines
.................. 55MT 303 Field Specifications (updated)
.................... 551. Field 15A: New Sequence
................... 562. Field 20: Sender’s Reference
................... 563. Field 21: Related Reference
................... 564. Field 22A: Type of Operation
................... 575. Field 94A: Scope of Operation
.................. 586. Field 22C: Common Reference
.................... 587. Field 82a: Fund Manager
................... 598. Field 87a: Executing Broker
.................. 609. Field 29A: Contact Information
................ 6110. Field 72: Sender to Receiver Information
................... 6211. Field 15B: New Sequence
.................... 6212. Field 30T: Trade Date
.................... 6313. Field 30V: Value Date
.................... 6314. Field 36: Exchange Rate
................. 6415. Field 32B: Currency, Amount Bought
................. 6416. Field 33B: Currency, Amount Sold
.................. 6417. Field 77D: Terms and Conditions
................... 6518. Field 15C: New Sequence
................. 6519. Field 23B: Identification of the Option
.................. 6620. Field 17A: Buy (Sell) Indicator
.................... 6621. Field 30T: Trade Date
.................. 6722. Field 30X: Earliest Exercise Date
.................. 6723. Field 30F: Final Settlement Date
................... 6724. Field 29C: Expiry Location
.................. 6825. Field 13E: Expiry Date and Time
................. 6826. Field 32B: Currency, Amount Bought
.................... 6927. Field 36A: Strike Price
................. 6928. Field 33B: Currency, Amount Sold
................... 6929. Field 39P: Premium Price
................. 7030. Field 30P: Premium Payment Date
............... 7031. Field 34B: Premium Currency and Amount
.................. 7132. Field 77D: Terms and Conditions
................... 7233. Field 15D: New Sequence
................ 7234. Field 28C: Entry Number, Page Number
.............. 7235. Field 21A: Reference of the Individual Allocation
...................... 7336. Field 83a: Fund
................. 7437. Field 32B: Currency, Amount Bought
................. 7438. Field 53a: Delivery Agent (updated)
.................. 7539. Field 56a: Intermediary (updated)
................. 7740. Field 57a: Receiving Agent (updated)
................. 7841. Field 33B: Currency, Amount Sold
................. 7942. Field 53a: Delivery Agent (updated)
.................. 8043. Field 56a: Intermediary (updated)
................. 8144. Field 57a: Receiving Agent (updated)
.................. 8245. Field 58a: Beneficiary Institution
............... 8346. Field 34B: Premium Currency and Amount
................. 8447. Field 53a: Delivery Agent (updated)
.................. 8548. Field 56a: Intermediary (updated)
................. 8649. Field 57a: Receiving Agent (updated)
.................. 8750. Field 58a: Beneficiary Institution
................ 89MT 304 Advice/Instruction of a Third Party Deal
....................... 89MT 304 Scope
.................... 89MT 304 Format Specifications
................... 91MT 304 Network Validated Rules
...................... 93MT 304 Usage Rules
...................... 93MT 304 Guidelines
.................. 94MT 304 Field Specifications (updated)
.................... 941. Field 15A: New Sequence
Standards Release Guide 2003 - Final edition - February 2003ii
SWIFTStandards - Category 3 Volume 1Table Of Contents
................... 952. Field 20: Sender’s Reference
................... 953. Field 21: Related Reference
................... 954. Field 22A: Type of Operation
................... 965. Field 94A: Scope of Operation
.................... 976. Field 17O: Open Indicator
.................. 977. Field 17F: Final Close Indicator
................. 988. Field 17N: Net Settlement Indicator
...................... 989. Field 83a: Fund
................... 9910. Field 82a: Fund Manager
................... 10011. Field 87a: Executing Broker
................... 10112. Field 15B: New Sequence
.................... 10213. Field 30T: Trade Date
.................... 10214. Field 30V: Value Date
.................... 10215. Field 36: Exchange Rate
................. 10316. Field 32B: Currency, Amount Bought
................. 10317. Field 53a: Delivery Agent (updated)
.................. 10418. Field 56a: Intermediary (updated)
................. 10519. Field 57a: Receiving Agent (updated)
................. 10720. Field 33B: Currency, Amount Sold
................. 10721. Field 53a: Delivery Agent (updated)
.................. 10822. Field 56a: Intermediary (updated)
................. 10923. Field 57a: Receiving Agent (updated)
.................. 11124. Field 58a: Beneficiary Institution
................... 11225. Field 15C: New Sequence
............... 11226. Field 21A: Reference to the Associated Trade
................ 11227. Field 21G: Executing Broker’s Reference
.................. 11328. Field 29A: Contact Information
................ 11329. Field 72: Sender to Receiver Information
................... 11430. Field 15D: New Sequence
................ 11531. Field 21P: Reference to Previous Deals
.................. 11532. Field 17G: Gain (Loss) Indicator
.................. 11633. Field 32G: Currency, Amount
................... 11634. Field 15E: New Sequence
.................. 11635. Field 17G: Gain (Loss) Indicator
.................. 11736. Field 32G: Currency, Amount
................. 11737. Field 53a: Delivery Agent (updated)
.................. 11838. Field 56a: Intermediary (updated)
................. 11939. Field 57a: Receiving Agent (updated)
.................. 12140. Field 58a: Beneficiary Institution
................ 123MT 305 Foreign Currency Option Confirmation
....................... 123MT 305 Scope
.................... 123MT 305 Format Specifications
................... 124MT 305 Network Validated Rules
...................... 124MT 305 Usage Rules
...................... 124MT 305 Guidelines
.................. 128MT 305 Field Specifications (updated)
................ 1281. Field 20: Transaction Reference Number
................... 1282. Field 21: Related Reference
................. 1293. Field 22: Code/Common Reference
.................. 1304. Field 23: Further Identification
................ 1305. Field 30: Date Contract Agreed/Amended
.................. 1316. Field 31C: Earliest Exercise Date
.................... 1317. Field 31G: Expiry Details
.................. 1328. Field 31E: Final Settlement Date
................... 1329. Field 26F: Settlement Type
............... 13210. Field 32B: Underlying Currency and Amount
.................... 13311. Field 36: Strike Price
................ 13312. Field 33B: Counter Currency and Amount
................... 13413. Field 37K: Premium Price
................... 13414. Field 34a: Premium Payment
............... 13515. Field 53a: Sender’s Correspondent (updated)
.................. 13616. Field 56a: Intermediary (updated)
iiiStandards Release Guide 2003 - Final edition - February 2003
Table Of ContentsSWIFTStandards - Category 3 Volume 1
............... 13617. Field 57a: Account With Institution (updated)
.................. 13718. Field 77D: Terms and Conditions
................ 13719. Field 72: Sender to Receiver Information
................ 139MT 306 Foreign Currency Option Confirmation
....................... 139MT 306 Scope
.................... 142MT 306 Format Specifications
................... 145MT 306 Network Validated Rules
...................... 151MT 306 Usage Rules
...................... 154MT 306 Guidelines
.................. 158MT 306 Field Specifications (updated)
.................... 1581. Field 15A: New Sequence
................... 1582. Field 20: Sender’s Reference
................... 1583. Field 21: Related Reference
................... 1594. Field 22A: Type of Operation
................... 1605. Field 94A: Scope of Operation
.................. 1606. Field 22C: Common Reference
................. 1617. Field 21N: Contract Number Party A
................. 1618. Field 21B: Contract Number Party B
.................... 1629. Field 12F: Option Style
................... 16210. Field 12E: Expiration Style
................... 16311. Field 17A: Barrier Indicator
................. 16312. Field 17F: Non-Deliverable Indicator
................... 16413. Field 22K: Type of Event
.................. 16514. Field 30U: Date of Trigger Hit
................. 16515. Field 29H: Location of Trigger Hit
..................... 16816. Field 82a: Party A
..................... 16917. Field 87a: Party B
.............. 17018. Field 77H: Type, Date, Version of the Agreement
.................. 17119. Field 77D: Additional Conditions
.................. 17120. Field 14C: Year of Definitions
................... 17221. Field 15B: New Sequence
.................. 17222. Field 17V: Buy (Sell) Indicator
.................... 17223. Field 30T: Trade Date
................... 17324. Field 30X: Expiration Date
................ 17325. Field 29E: Expiration Location and Time
.................. 17626. Field 30F: Final Settlement Date
................... 17727. Field 37K: Premium Price
................. 17728. Field 30V: Premium Payment Date
............... 17729. Field 34B: Premium Currency and Amount
................ 17830. Field 84a: Calculation Agent (updated)
................... 17931. Field 15C: New Sequence
................. 17932. Field 53a: Delivery Agent (updated)
................. 18133. Field 86a: Intermediary 2 (updated)
.................. 18234. Field 56a: Intermediary (updated)
................. 18335. Field 57a: Receiving Agent (updated)
.................. 18536. Field 58a: Beneficiary Institution
................... 18637. Field 15D: New Sequence
.................. 18638. Field 30P: Earliest Exercise Date
................. 18739. Field 30Q: Intermediate Exercise Date
................... 18740. Field 26F: Settlement Type
................. 18841. Field 32B: Put Currency and Amount
.................... 18842. Field 36: Strike Price
................. 18843. Field 33B: Call Currency and Amount
................... 18944. Field 15E: New Sequence
.................. 18945. Field 33E: Currency, Amount
.................. 19046. Field 30H: Touch Payment Date
................. 19047. Field 53a: Delivery Agent (updated)
................. 19148. Field 86a: Intermediary 2 (updated)
.................. 19249. Field 56a: Intermediary (updated)
................. 19450. Field 57a: Receiving Agent (updated)
.................. 19551. Field 58a: Beneficiary Institution
................... 19752. Field 15F: New Sequence
Standards Release Guide 2003 - Final edition - February 2003iv
SWIFTStandards - Category 3 Volume 1Table Of Contents
................... 19753. Field 22G: Type of Barrier
.................... 19754. Field 37J: Barrier Level
.................. 19855. Field 37L: Lower Barrier Level
............. 19856. Field 30G: Barrier Window Start Date and End Date
............... 19957. Field 29J: Location and Time for Start Date
............... 20258. Field 29K: Location and Time for End Date
................... 20459. Field 15G: New Sequence
................... 20560. Field 22J: Type of Trigger
.................... 20561. Field 37U: Trigger Level
.................. 20662. Field 37P: Lower Trigger Level
................... 20663. Field 32Q: Currency Pair
................... 20664. Field 15H: New Sequence
................. 20765. Field 14S: Settlement Rate Source
.................. 20766. Field 32E: Settlement Currency
................... 20767. Field 15I: New Sequence
.................. 20868. Field 29A: Contact Information
................... 20969. Field 24D: Dealing Method
.................. 20970. Field 88a: Broker Identification
.................. 21071. Field 71F: Broker’s Commission
.................. 21072. Field 21G: Broker’s Reference
................ 21173. Field 72: Sender to Receiver Information
............... 212MT 307 Advice/Instruction of a Third Party FX Deal
....................... 212MT 307 Scope
.................... 212MT 307 Format Specifications
................... 215MT 307 Network Validated Rules
.................. 218MT 307 Field Specifications (updated)
.................... 2181. Field 16R: Start of Block
..................... 2192. Field 20C: Reference
................. 2203. Field 23G: Function of the Message
..................... 2214. Field 22H: Indicator
.................... 2225. Field 16R: Start of Block
............. 2236. Field 13A: Number Identification: Linked Transaction
..................... 2237. Field 20C: Reference
.................... 2248. Field 16S: End of Block
.................... 2259. Field 16S: End of Block
................... 22510. Field 16R: Start of Block
...................... 22611. Field 98A: Date
.................. 22612. Field 92B: Rate: Exchange Rate
................... 22713. Field 16R: Start of Block
................. 22714. Field 95a: Party: FX Counterparty
.................... 22815. Field 16S: End of Block
................... 22916. Field 16R: Start of Block
................... 22917. Field 95a: Party: Investor
................ 23018. Field 97A: Account: Safekeeping Account
.................... 23019. Field 16S: End of Block
................... 23120. Field 16R: Start of Block
..................... 23121. Field 19B: Amount
................... 23222. Field 16R: Start of Block
................... 23323. Field 95a: Party (updated)
................. 23424. Field 97A: Account: Cash Account
............... 23425. Field 70C: Narrative: Party Contact Narrative
.................... 23526. Field 16S: End of Block
.................... 23527. Field 16S: End of Block
.................... 23628. Field 16S: End of Block
................... 23629. Field 16R: Start of Block
................... 23730. Field 16R: Start of Block
............. 23731. Field 13A: Number Identification: Linked Transaction
.............. 23832. Field 20C: Reference: Reference to Previous Deals
.................... 23833. Field 16S: End of Block
................ 23934. Field 22H: Indicator: Gain/Loss Indicator
............. 24035. Field 19B: Amount: Gain/Loss Currency and Amount
.................... 24036. Field 16S: End of Block
vStandards Release Guide 2003 - Final edition - February 2003
Table Of ContentsSWIFTStandards - Category 3 Volume 1
................... 24137. Field 16R: Start of Block
................ 24138. Field 22H: Indicator: Gain/Loss Indicator
............... 24239. Field 19B: Amount: Net Gain/Loss Amount
................... 24340. Field 16R: Start of Block
................... 24341. Field 95a: Party (updated)
................. 24442. Field 97A: Account: Cash Account
............... 24543. Field 70C: Narrative: Party Contact Narrative
.................... 24544. Field 16S: End of Block
.................... 24645. Field 16S: End of Block
........... 247MT 308 Instruction for Gross/Net Settlement of Third Party FX Deals
....................... 247MT 308 Scope
................. 247MT 308 Format Specifications (updated)
................... 250MT 308 Network Validated Rules
.................. 250MT 308 Field Specifications (updated)
.................... 2501. Field 16R: Start of Block
................ 2502. Field 20C: Reference: Sender’s Reference
................. 2513. Field 23G: Function of the Message
.................... 2524. Field 16R: Start of Block
............. 2525. Field 13A: Number Identification: Linked Transaction
..................... 2536. Field 20C: Reference
.................... 2547. Field 16S: End of Block
.................... 2548. Field 16S: End of Block
.................... 2559. Field 16R: Start of Block
................... 25510. Field 98A: Date: Value Date
................... 25611. Field 16R: Start of Block
................. 25612. Field 95a: Party: FX Counterparty
.................... 25713. Field 16S: End of Block
................... 25714. Field 16R: Start of Block
................... 25815. Field 95a: Party: Investor
................ 25916. Field 97A: Account: Safekeeping Account
.................... 25917. Field 16S: End of Block
................... 26018. Field 16R: Start of Block
................... 26019. Field 16R: Start of Block
............. 26020. Field 13A: Number Identification: Linked Transaction
................ 26121. Field 20C: Reference: Previous Reference
.................... 26222. Field 16S: End of Block
.................... 26223. Field 16S: End of Block
................... 26324. Field 16R: Start of Block
................... 26325. Field 16R: Start of Block
............. 26326. Field 13A: Number Identification: Linked Transaction
................ 26427. Field 20C: Reference: Previous Reference
.................... 26528. Field 16S: End of Block
.............. 26529. Field 22H: Indicator: Gain/Loss Indicator (updated)
............... 26630. Field 19B: Amount: Net Gain/Loss Amount
................... 26631. Field 16R: Start of Block
................... 26732. Field 95a: Party (updated)
................. 26833. Field 97A: Account: Cash Account
............... 26934. Field 70C: Narrative: Party Contact Narrative
.................... 26935. Field 16S: End of Block
.................... 27036. Field 16S: End of Block
.................... 27037. Field 16S: End of Block
.................. 272MT 320 Fixed Loan/Deposit Confirmation
....................... 272MT 320 Scope
.................... 274MT 320 Format Specifications
................... 277MT 320 Network Validated Rules
...................... 280MT 320 Usage Rules
...................... 282MT 320 Guidelines
.................. 286MT 320 Field Specifications (updated)
.................... 2861. Field 15A: New Sequence
................... 2862. Field 20: Sender’s Reference
................... 2873. Field 21: Related Reference
................... 2874. Field 22A: Type of Operation
Standards Release Guide 2003 - Final edition - February 2003vi
SWIFTStandards - Category 3 Volume 1Table Of Contents
................... 2885. Field 94A: Scope of Operation
.................... 2896. Field 22B: Type of Event
.................. 2907. Field 22C: Common Reference
................. 2908. Field 21N: Contract Number Party A
..................... 2919. Field 82a: Party A
..................... 29210. Field 87a: Party B
................. 29311. Field 83a: Fund or Instructing Party
.................. 29412. Field 77D: Terms and Conditions
................... 29513. Field 15B: New Sequence
................... 29514. Field 17R: Party’s A Role
.................... 29615. Field 30T: Trade Date
.................... 29616. Field 30V: Value Date
.................... 29617. Field 30P: Maturity Date
............... 29718. Field 32B: Currency and Principal Amount
.................. 29719. Field 32H: Amount to be Settled
................. 29820. Field 30X: Next Interest Due Date
................ 29821. Field 34E: Currency and Interest Amount
.................... 29922. Field 37G: Interest Rate
.................. 30023. Field 14D: Day Count Fraction
............... 30024. Field 30F: Last Day of the First Interest Period
................... 30125. Field 38J: Number of Days
................... 30126. Field 15C: New Sequence
................. 30227. Field 53a: Delivery Agent (updated)
................. 30328. Field 86a: Intermediary 2 (updated)
.................. 30429. Field 56a: Intermediary (updated)
................. 30530. Field 57a: Receiving Agent (updated)
.................. 30731. Field 58a: Beneficiary Institution
................... 30832. Field 15D: New Sequence
................. 30833. Field 53a: Delivery Agent (updated)
................. 31034. Field 86a: Intermediary 2 (updated)
.................. 31135. Field 56a: Intermediary (updated)
................. 31236. Field 57a: Receiving Agent (updated)
.................. 31437. Field 58a: Beneficiary Institution
................... 31538. Field 15E: New Sequence
................. 31539. Field 53a: Delivery Agent (updated)
................. 31640. Field 86a: Intermediary 2 (updated)
.................. 31841. Field 56a: Intermediary (updated)
................. 31942. Field 57a: Receiving Agent (updated)
.................. 32043. Field 58a: Beneficiary Institution
................... 32144. Field 15F: New Sequence
................. 32245. Field 53a: Delivery Agent (updated)
................. 32346. Field 86a: Intermediary 2 (updated)
.................. 32447. Field 56a: Intermediary (updated)
................. 32548. Field 57a: Receiving Agent (updated)
.................. 32749. Field 58a: Beneficiary Institution
................... 32850. Field 15G: New Sequence
..................... 32851. Field 37L: Tax Rate
............ 32952. Field 33B: Transaction Currency and Net Interest Amount
.................... 32953. Field 36: Exchange Rate
.............. 32954. Field 33E: Reporting Currency and Tax Amount
................... 33055. Field 15H: New Sequence
.................. 33056. Field 29A: Contact Information
................... 33157. Field 24D: Dealing Method
................. 33158. Field 84a: Dealing Branch Party A
................. 33259. Field 85a: Dealing Branch Party B
.................. 33360. Field 88a: Broker Identification
.................. 33561. Field 71F: Broker’s Commission
................. 33562. Field 26H: Counterparty’s Reference
.................. 33563. Field 21G: Broker’s Reference
................ 33664. Field 72: Sender to Receiver Information
.............. 337MT 321 Instruction to Settle a Third Party Loan/Deposit
....................... 337MT 321 Scope
viiStandards Release Guide 2003 - Final edition - February 2003
Table Of ContentsSWIFTStandards - Category 3 Volume 1
.................... 337MT 321 Format Specifications
................... 339MT 321 Network Validated Rules
.................. 342MT 321 Field Specifications (updated)
.................... 3421. Field 16R: Start of Block
..................... 3422. Field 20C: Reference
................. 3433. Field 23G: Function of the Message
.............. 3444. Field 22H: Indicator: Type of Loan/Deposit Event
.................... 3455. Field 16R: Start of Block
............. 3456. Field 13A: Number Identification: Linked Transaction
..................... 3467. Field 20C: Reference
.................... 3468. Field 16S: End of Block
.................... 3479. Field 16S: End of Block
................... 34710. Field 16R: Start of Block
.............. 34811. Field 20C: Reference: Contract Number Reference
..................... 34812. Field 22H: Indicator
...................... 35013. Field 98A: Date
..................... 35114. Field 19B: Amount
.................. 35115. Field 92A: Rate: Interest Rate
............. 35216. Field 99B: Number Count: Number of Days Accrued
................... 35317. Field 16R: Start of Block
............... 35318. Field 95a: Party: Loan/Deposit Counterparty
.................... 35419. Field 16S: End of Block
................... 35420. Field 16R: Start of Block
................... 35521. Field 95a: Party: Investor
................ 35522. Field 97A: Account: Safekeeping Account
.................... 35623. Field 16S: End of Block
.................... 35624. Field 16S: End of Block
................... 35725. Field 16R: Start of Block
................ 35726. Field 22H: Indicator: Principal and Interest
................... 35827. Field 16R: Start of Block
................... 35928. Field 95a: Party (updated)
................. 36029. Field 97A: Account: Cash Account
............... 36030. Field 70C: Narrative: Party Contact Narrative
.................... 36131. Field 16S: End of Block
.................... 36132. Field 16S: End of Block
................ 363MT 330 Call/Notice Loan/Deposit Confirmation
....................... 363MT 330 Scope
.................... 364MT 330 Format Specifications
................... 367MT 330 Network Validated Rules
...................... 370MT 330 Usage Rules
...................... 372MT 330 Guidelines
.................. 376MT 330 Field Specifications (updated)
.................... 3761. Field 15A: New Sequence
................... 3762. Field 20: Sender’s Reference
................... 3773. Field 21: Related Reference
................... 3774. Field 22A: Type of Operation
................... 3785. Field 94A: Scope of Operation
.................... 3796. Field 22B: Type of Event
.................. 3807. Field 22C: Common Reference
................. 3808. Field 21N: Contract Number Party A
..................... 3819. Field 82a: Party A
..................... 38210. Field 87a: Party B
................. 38311. Field 83a: Fund or Instructing Party
.................. 38412. Field 77D: Terms and Conditions
................... 38513. Field 15B: New Sequence
................... 38514. Field 17R: Party’s A Role
.................... 38615. Field 30T: Trade Date
.................... 38616. Field 30V: Value Date
................... 38717. Field 38A: Period of Notice
.................. 38718. Field 32B: Currency and Balance
.................. 38719. Field 32H: Amount to be Settled
................... 38820. Field 30X: Interest Due Date
Standards Release Guide 2003 - Final edition - February 2003viii
SWIFTStandards - Category 3 Volume 1Table Of Contents
................ 38921. Field 34E: Currency and Interest Amount
.................... 38922. Field 37G: Interest Rate
.................. 39023. Field 14D: Day Count Fraction
............... 39024. Field 30F: Last Day of the Next Interest Period
................... 39125. Field 38J: Number of Days
................... 39126. Field 15C: New Sequence
................. 39227. Field 53a: Delivery Agent (updated)
................. 39328. Field 86a: Intermediary 2 (updated)
.................. 39429. Field 56a: Intermediary (updated)
................. 39530. Field 57a: Receiving Agent (updated)
.................. 39731. Field 58a: Beneficiary Institution
................... 39832. Field 15D: New Sequence
................. 39833. Field 53a: Delivery Agent (updated)
................. 40034. Field 86a: Intermediary 2 (updated)
.................. 40135. Field 56a: Intermediary (updated)
................. 40236. Field 57a: Receiving Agent (updated)
.................. 40437. Field 58a: Beneficiary Institution
................... 40538. Field 15E: New Sequence
................. 40539. Field 53a: Delivery Agent (updated)
................. 40640. Field 86a: Intermediary 2 (updated)
.................. 40841. Field 56a: Intermediary (updated)
................. 40942. Field 57a: Receiving Agent (updated)
.................. 41043. Field 58a: Beneficiary Institution
................... 41144. Field 15F: New Sequence
................. 41245. Field 53a: Delivery Agent (updated)
................. 41346. Field 86a: Intermediary 2 (updated)
.................. 41447. Field 56a: Intermediary (updated)
................. 41548. Field 57a: Receiving Agent (updated)
.................. 41749. Field 58a: Beneficiary Institution
................... 41850. Field 15G: New Sequence
..................... 41851. Field 37L: Tax Rate
............ 41952. Field 33B: Transaction Currency and Net Interest Amount
.................... 41953. Field 36: Exchange Rate
.............. 41954. Field 33E: Reporting Currency and Tax Amount
................... 42055. Field 15H: New Sequence
.................. 42056. Field 29A: Contact Information
................... 42157. Field 24D: Dealing Method
................. 42158. Field 84a: Dealing Branch Party A
................. 42259. Field 85a: Dealing Branch Party B
................. 42360. Field 26H: Counterparty’s Reference
................ 42461. Field 72: Sender to Receiver Information
................ 425MT 340 Forward Rate Agreement Confirmation
....................... 425MT 340 Scope
.................... 425MT 340 Format Specifications
................... 428MT 340 Network Validated Rules
...................... 430MT 340 Usage Rules
...................... 433MT 340 Guidelines
.................. 437MT 340 Field Specifications (updated)
.................... 4371. Field 15A: New Sequence
................... 4382. Field 20: Sender’s Reference
................... 4383. Field 21: Related Reference
................... 4394. Field 22A: Type of Operation
................... 4405. Field 94A: Scope of Operation
.................. 4406. Field 22C: Common Reference
.................... 4417. Field 23D: Type of FRA
................. 4418. Field 21N: Contract Number Party A
................. 4429. Field 21B: Contract Number Party B
..................... 44210. Field 82a: Party A
..................... 44311. Field 87a: Party B
.............. 44312. Field 77H: Type, Date, Version of the Agreement
.................. 44413. Field 14C: Year of Definitions
................... 44414. Field 15B: New Sequence
ixStandards Release Guide 2003 - Final edition - February 2003
Table Of ContentsSWIFTStandards - Category 3 Volume 1
.................... 44515. Field 30T: Trade Date
................ 44516. Field 32B: Currency, Notional Amount
................... 44617. Field 30F: Effective Date
................... 44618. Field 30P: Termination Date
.................... 44619. Field 37M: Fixed Rate
................ 44720. Field 14F: Floating Rate Option (updated)
.................... 45621. Field 30V: Fixing Date
................... 45622. Field 38D: Contract Period
.................. 45623. Field 38G: Designated Maturity
............... 45724. Field 14D: Floating Rate Day Count Fraction
................... 45825. Field 17F: FRA Discounting
................. 45926. Field 18A: Number of Repetitions
................... 45927. Field 22B: Financial Centre
................... 46228. Field 15C: New Sequence
................. 46229. Field 53a: Delivery Agent (updated)
................. 46330. Field 86a: Intermediary 2 (updated)
.................. 46531. Field 56a: Intermediary (updated)
................. 46632. Field 57a: Receiving Agent (updated)
.................. 46733. Field 58a: Beneficiary Institution
................... 46834. Field 15D: New Sequence
................. 46935. Field 53a: Delivery Agent (updated)
................. 47036. Field 86a: Intermediary 2 (updated)
.................. 47137. Field 56a: Intermediary (updated)
................. 47238. Field 57a: Receiving Agent (updated)
.................. 47439. Field 58a: Beneficiary Institution
................... 47540. Field 15E: New Sequence
.................. 47541. Field 29A: Contact Information
................... 47642. Field 24D: Dealing Method
.................. 47743. Field 88a: Broker Identification
.................. 47744. Field 71F: Broker’s Commission
.................. 47845. Field 21G: Broker’s Reference
................ 47846. Field 72: Sender to Receiver Information
.............. 480MT 341 Forward Rate Agreement Settlement Confirmation
....................... 480MT 341 Scope
.................... 480MT 341 Format Specifications
................... 481MT 341 Network Validated Rules
...................... 482MT 341 Usage Rules
...................... 483MT 341 Guidelines
.................. 487MT 341 Field Specifications (updated)
.................... 4871. Field 15A: New Sequence
................... 4882. Field 20: Sender’s Reference
................... 4883. Field 21: Related Reference
................... 4894. Field 22A: Type of Operation
................... 4905. Field 94A: Scope of Operation
.................. 4906. Field 22C: Common Reference
.................... 4917. Field 23D: Type of FRA
................. 4918. Field 21N: Contract Number Party A
................. 4919. Field 21B: Contract Number Party B
..................... 49210. Field 82a: Party A
..................... 49211. Field 87a: Party B
.................. 49312. Field 29A: Contact Information
................ 49413. Field 72: Sender to Receiver Information
................... 49414. Field 15B: New Sequence
.................... 49515. Field 30T: Trade Date
................ 49516. Field 32B: Currency, Notional Amount
................... 49617. Field 30F: Effective Date
................... 49618. Field 30P: Termination Date
.................... 49619. Field 37M: Fixed Rate
.................... 49720. Field 30V: Fixing Date
................... 49721. Field 38D: Contract Period
................... 49822. Field 15C: New Sequence
................... 49823. Field 37R: Settlement Rate
Standards Release Guide 2003 - Final edition - February 2003x
SWIFTStandards - Category 3 Volume 1Table Of Contents
............... 49924. Field 34E: Settlement Currency and Amount
................. 49925. Field 53a: Delivery Agent (updated)
................. 50026. Field 86a: Intermediary 2 (updated)
.................. 50227. Field 56a: Intermediary (updated)
................. 50328. Field 57a: Receiving Agent (updated)
.................. 50429. Field 58a: Beneficiary Institution
xiStandards Release Guide 2003 - Final edition - February 2003
Table Of ContentsSWIFTStandards - Category 3 Volume 1