General Information. Standards MT November 2016

Transcription

1 This document provides information about all Standards MT (Message Type) categories, and explains the general rules, conventions, and principles for the Standards MTs. The document explains the organisation of the Standards documentation and the benefits of message standards. This document also provides a description of the ISO Business Identifier Code. This document is for all SWIFT customers (this includes operators and application developers), vendors, and service bureaux. 22 July 2016

2 Table of Contents Table of Contents Preface Standards MT Volumes Description Volume/Chapter Explanation Standards MT Volumes Formatting Explanation Introduction to Standards MT Reason for Standards MT Standards Development and Implementation Process Standards Maintenance Process Message Envelope Structure Message Validation Description Business Identifier Code (BIC) Characters SWIFT Character Set (X Character Set) EDIFACT Level A Character Set (Y Character Set) Information Service Character Set (Z Character Set) Representation of Non-SWIFT Characters Message Structure and Message Types SWIFT Message Structure SWIFT Message Types Message Length and Structure Message Structure Example Field Structure and Field Formatting Rules General Rules Field Structure Field Formatting Euro-Related Information (ERI) Deletion of National Currency Denomination (NCD) Currency Codes July

3 Table of Contents 7.2 Euro-Related Information (ERI) Message Specific Guidelines on the Use of ERI ERI Validation and Examples Legal Notices July

4 Preface Preface Significant changes The following tables list all significant changes to the content of the MT since the 24 July 2015 edition. These tables do not include editorial changes that SWIFT makes to improve the usability and comprehension of the document. New information Location Addition of clearing code CN Option D: Name and Address on page 61 How to calculate message length Message Length and Structure on page 50 Updated information Location Update of rules ERI Usage Guidelines and Rules on page 76 Accomodate definition of field 59F Option F: Party Identifier/Name and Address on page 65 Deleted information Location No ERI validation on MTs 96n No ERI Validation on page 90 Removal of unnecessary characters (chevrons) around field format Details of the ERI Validation Implementation on page 90 CAUTION This volume contains information effective as of the November 2016 Standards release. Therefore the 24 July 2015 edition of the Standards MT User Handbook volumes remains effective until November July

5 Standards MT Volumes Description 1 Standards MT Volumes Description 1.1 Volume/Chapter Explanation Standards MT volumes All SWIFT messages exchanged between users must accord with the message text standards described in the Standards MT volumes. To achieve this, it may be necessary for some users to make changes to their policies and procedures to bring their communications in line with those of the SWIFT community. The Standards MT volumes describe the message text standards which have been developed by representatives from the user community, and which are currently in effect. They consist of: MT Standards MT General Field Definitions Plus Ten Category volumes containing the respective message text standards: Category 1 - Customer Payments and Cheques Category 2 - Financial Institution Transfers Category 3 - Treasury Markets - Foreign Exchange, Money Markets, and Derivatives This category consists of 2 volumes: - Volume 1: MT MT Volume 2: MT MT 399 Category 4 - Collections and Cash Letters Category 5 - Securities Markets This category consists of 4 volumes: - Volume 1: MT MT Volume 2: MT MT Volume 3: MT MT Volume 4: MT MT 599 Category 6 This category consists of 3 books: - Commodities - Syndications - Reference Data Category 7 - Documentary Credits and Guarantees Category 8 - Travellers Cheques Category 9 - Cash Management and Customer Status Category n - Common Group Messages 22 July

6 Standards MT Volumes Description Additional Standards MT volumes To assist users, usage guidelines have been published in two additional Standards MT volumes for specific categories of messages. These volumes contain guidelines for using message standards. The two volumes are: Standards MT Usage Guidelines Category 5 - Securities Markets - Message Usage Guidelines Additional volumes are issued separately for: advance information, published as the Standards Release Guide supplementary information, as appropriate 1.2 Standards MT Volumes Standards MT Volume Overview The Standards MT volume contains information which is pertinent to all categories of messages. It includes, for example, an explanation of how the information is organised, the benefits of using message standards, and the description of the Business Identifier Code. Chapters description Chapter 1 - Standards MT Volumes Description on page Introduction to Standards MT on page 16 Description This chapter contains: a description of the information which is contained in each volume of the Standards MT volume set an explanation of the presentation of field definitions, category information, and message type formats This chapter contains: a description of the reasons message standards are needed, including the benefits realised through their proper use information about the method used by SWIFT to update current standards, and to develop new ones, in order to ensure compatibility with current financial practices a list of the standard development organisations SWIFT consults with when developing message text formats and definitions a brief description of the format checking performed by the SWIFT system on outgoing SWIFT messages 22 July

7 Standards MT Volumes Description Chapter 3 - Business Identifier Code (BIC) on page Characters on page Message Structure and Message Types on page 23 Description This chapter contains a brief description of the Business Identifier Code. For more information on the BIC format and use of the BIC in SWIFT messages, see the SWIFT BIC Policy. This chapter lists the allowable characters in the X-, Y-, and Z- character sets. This chapter contains: definitions and illustrations of the structure of a message a description of the purpose of the category designation within the message type (MT) number and how the category may be used to aid the internal routing of messages a list of all SWIFT message types 6 - Field Structure and Field Formatting Rules on page Euro-Related Information (ERI) on page 75 In addition to general rules for field structure and field formatting, this chapter also covers field formatting rules for the following elements: Dates Numbers Currency Codes Party Identification Times Value Date Ordering This chapter contains guidelines for using existing SWIFT message standards for transactions involving the euro Standards MT General Field Definitions Plus Overview This online publication is available only on the User Handbook Online. It allows the user to search for specific pieces of information, easily and quickly as information is sorted by MT or by field tag. The Standards MT General Field Definitions Plus provides a general description of all messagetext fields. It also provides information about the FIN error codes. Information which applies to fields in a specific message, for example, field usage and codes, is found in the description of the message type within the Standards category message reference guides. 22 July

8 Standards MT Volumes Description Description The Standards MT General Field Definitions Plus contains a description of each field tag, including: format options definition network validated rules usage rules relevant message types codes Category Volumes: Message Text Standards Message text standards for individual messages within each category are contained in the category volumes: Category 1 - Customer Payments and Cheques Category 2 - Financial Institution Transfers Category 3 - Treasury Markets - Foreign Exchange, Money Markets, and Derivatives Category 4 - Collection and Cash Letters Category 5 - Securities Markets Category 6 - Treasury Markets - Commodities Category 6 - Treasury Markets - Syndications Category 6 - Reference Data Category 7 - Documentary Credits and Guarantees Category 8 - Travellers Cheques Category 9 - Cash Management and Customer Status Category n - Common Group Messages Each volume provides the information as described in the following table: Section Introduction Description This section contains a description of the function and use of the message category. It also indicates what has changed in the book since its previous publication, and explains how the book, and each message type, is structured. 22 July

9 Standards MT Volumes Description Section Category Message Types Message Type Description Glossary of Terms Description This section lists and briefly describes the message types defined within the category. It also indicates: whether the message type requires authentication the maximum length allowed whether the use of the message type requires registration with SWIFT in a Message User Group information about how to register for a Message User Group This section contains detailed descriptions of each message type within the category. Including: MT Scope MT Format Specifications MT Network Validated Rules MT Usage Rules MT Guidelines MT Field Specifications MT Mapping MT Examples additional information about the MT as required Terms and definitions that are used throughout the category Additional Volumes Two additional volumes contain recommendations for using messages in specific business situations. They also provide special information about more than one message type, or across more than one category of message type. These usage guidelines are recommendations and are provided for information. They do not form part of the SWIFT message text standards. Volume Standards MT Usage Guidelines Standards - Category 5 - Securities Markets - Message Usage Guidelines Description This document recommends the use of messages for specific business situations. This document contains additional information for using the Category 5 message types. It explains how the ISO messages relate to each other, and the parties involved. It also includes a general outline of the structure of each new message. 22 July

10 Standards MT Volumes Description 1.3 Formatting Explanation Field Definition Format The Standards MT General Field Definitions Plus contains the following information per field. Name Definition Format Options Usage Rules Network Validated Rules Message Type Use Codes Description A description of the field. Additional information which applies to a specific category, or message type, will appear in the field specifications for that message type. The specification of available options, or alternative formatting possibilities, for the field. The format options include restrictions on length and types of characters allowed. Additional information pertaining to use of the field. Any restrictions on use, for example, a double slash '//' is not permitted within field 20. A matrix showing the message types which use the specified field. A matrix showing the message types which use the specified code Message Type Descriptions Introduction The ten category volumes contain general information for the category and the detailed description of each message type. For each message type, the following information is provided. Note For the ISO securities messages in Category 5, the format specification and field specifications are presented in a slightly different way. For further explanations, see Category 5 - Securities Markets - Message Usage Guidelines. Example of an information flow The following symbols are used to identify the parties involved in the message flow: 22 July

11 Standards MT Volumes Description Legend Originator of the transaction Financial institution Bank Corporate Customer Sender or Receiver Other parties involved in the transaction MT MT nnn The actual SWIFT Message MT nnn Another SWIFT message involved in the transaction Financial institution or customer relationship Final recipient Financial institution Bank Corporate Customer D In the diagrams, each customer, or financial institution, is identified by the tag number of the corresponding field, for example, 50a, Ordering Customer. Message type scope The scope of a message specifies the sender and receiver of the message and provides an explanation on how the message is used. In some messages, an example of the message flow is also provided. 22 July

12 Standards MT Volumes Description Message type format specifications MT nnn (Message Type name) The format specifications are the rules for the layout of the message type. This information is provided in table form as shown below: Status Tag Field Name Content/Options No. M 20 Transaction Reference Number 16x 1 M 21 Related Reference 16x 2 Mandatory Sequence A (Sequence Name) M 25 Account Identification 35x 3 M 32A Value Date, Currency Code, Amount 6!n3!a15d > Optional Repetitive Sequence B (Sequence Name) O 52a Ordering Institution A or D 5 M 71B Detail of Charges 6*35x 6 O 72 Sender to Receiver Information 6*35x M = Mandatory O = Optional - Network Validated Rules may apply MT nnn (Message Type name) provides the message type number and name. The table headings have the following meanings: Status indicates if the field is: - M = Mandatory - O = Optional - Network Validated Rules may apply The status M for fields in optional (sub) sequences means that the field must be present if the (sub)sequence is present, and is otherwise not allowed. Tag is the field identification. Field Name is the detailed name of the field tag, for this message type. Content/Options provides permitted field length and characteristics. No. identifies the number of the field in the Field Specifications for the message type. It is also called Index. Only fields and field tag options, which are shown in the message format, may be used in that message type. 22 July

13 Standards MT Volumes Description Some message formats are separated into sequences of fields, as shown below. An arrow indicates that a sequence of fields may be repeated: Status Tag Field Name Content/Options No. First sequence ----> Second Sequence ---- Third sequence M = Mandatory O = Optional - Network Validated Rules may apply The arrows (----> and ---- ) indicate that the second sequence may be repeated. MT network validated rules Network validated rules are validated on the network, that is, they are identified with an error code. Rules specified in this section affect more than one field in the message, placing a "condition" on one of the fields specified. They are identified as Cn, or conditional rules. For example, in the MT 202, a rule states that if field 56a (Intermediary) is present, then field 57a (Account With Institution) must also be present (Error code C81). MT usage rules Usage rules are not validated on the network, that is, no error code is defined for them, but are nevertheless mandatory for the correct usage of the message. Rules specified in this section affect more than one field in the message, or more than one SWIFT message. MT market practice rules Market practice rules specify the rules published by a recognised Market Practice Group, for example, for category 5, the Securities Market Practice Group (SMPG). Market practice rules indicate the existence of a global market practice document on the business process in which the concerned field or message type is used. The absence of a market practice rule notation does not mean that no market practices exist for the concerned field or message type. The presence of a market practice rule is merely an indicator of a known market practice. Furthermore, readers should be aware that in addition to global market practices there may also 22 July

14 Standards MT Volumes Description be country-specific requirements that should be considered when using the field or message type. MT guidelines Guidelines are not validated on the network and are not mandatory for the correct usage of the message. They concern good practices. Guidelines specified in this section affect more than one field in the message, or more than one SWIFT message. MT field specifications The rules for the use of each field in the message are specified in this section. Each field is identified by its index number (as shown in the No. column of the MT format specifications), field tag and detailed field name, followed by a description of the field. The description may contain some, or all, of the following: 1. FORMAT specifies the field formats which are allowed in the field. 2. PRESENCE indicates if the field is mandatory, optional, or conditional in its sequence. 3. DEFINITION specifies the definition of the field in this sequence of the message type. 4. CODES lists all codes available for use in the field. If there is more than one subfield for which codes are defined, each separate code list will be identified with a CODES heading. When a list of codes is validated by the network, the error code will be specified. 5. NETWORK VALIDATED RULES specifies rules that are validated on the network, that is, rules for which an error code is defined. Generally, rules specified in this section affect only the field in which they appear. In some cases, rules which are validated at the message level, that is, rules which affect more than one field, are repeated in this section. This is the case when the rule does not affect the presence of the field, but information within several fields, for example, a currency which must be the same for more than one field in the message. 6. USAGE RULES specifies rules that are not validated on the network, that is, rules for which no error code is defined, but are nevertheless mandatory for the correct usage of the field. Rules specified in this section affect only the field in which they appear. 7. EXAMPLES provides one or more examples of the field as it will be formatted/used. MT mapping MT mapping explains how to map the fields of the message into another SWIFT message, either of the same, or a different, message type. MT example Examples are provided to illustrate the correct use of a message. Examples always include: narrative, which provides a brief description of a transaction information flow, which illustrates the relationships between the parties involved in the message (see below diagram) SWIFT format, which provides the message using the defined SWIFT format, and providing an explanation, where necessary, of the fields which have been used The sender, receiver, and message type are summarily identified. Trailer contents are not shown. 22 July

15 Standards MT Volumes Description Note For further information about the header and trailer, see the FIN Service Description. 22 July

16 Introduction to Standards MT 2 Introduction to Standards MT 2.1 Reason for Standards MT Why Standards MT? The message text standards have been developed to support the business transactions of SWIFT users. To ensure that the multitude of practices and conventions of users are in harmony, financial messages transmitted via the SWIFT network must adhere to the message text standards. Standards enable financial institutions to move from manual to automated initiation and processing of financial transactions. Key benefits There are important benefits which result from standardisation of messages. These include: automation reduced risk of errors and misunderstandings reduced operating costs improved productivity increased efficiency in processing of messages (routing and preparation) faster and more cost effective account reconciliation ability to maintain more comprehensive management information 2.2 Standards Development and Implementation Process Published processes For details about the standards development and implementation process, see the Standards MT Development and Maintenance Processes at swift.com > Ordering & Support > User Handbook Home. This document was approved by the SWIFT Board of Directors in Standards Maintenance Process Published processes For details about the standards maintenance process, see the Standards MT Development and Maintenance Processes at swift.com > Ordering & Support > User Handbook Home. This document was approved by the SWIFT Board of Directors in Maintenance projects Maintenance projects aim at maintaining the functionality of existing standards. They are carried out to bring existing standards in line with business changes, or to correct technical problems. There are two ways to submit maintenance requests (change requests) to SWIFT, as follows: through User Group Chairpersons through representative market practice groups in which there are SWIFT members Note Individual users and members may only submit maintenance requests to their User Group Chairperson (requests submitted directly to SWIFT are returned). 22 July

17 Introduction to Standards MT Maintenance deliverables The deliverables are the following: 1. Fifteen months prior to implementation (SR-15), SWIFT publishes a high-level document (for budget and resource allocation). It highlights the potential scope and size of the subject maintenance release, based on the change requests received. These changes must still be validated by a Working Group and some of them may be reworded, redefined or even removed. 2. Eleven months prior to implementation (SR-11), SWIFT publishes a revised, high-level document (for budget and resource allocation), which shows only those change requests that were approved by the working groups and accepted by a country vote. 3. Ten months prior to implementation (SR-10), the Standards Release Guide (SRG) provides details of the changes published in the revised, high-level document. 4. Three months prior to implementation (SR-3), the Standards MT User Handbook is available on 5. The changes are implemented on the network on the Standards release (SR-0) date. Approval process Sixteen months prior to a planned Standards release date (SR-16), the SWIFT Standards department analyses all received change requests. They send the outcome of this analysis to a Maintenance Working Group (MWG) for discussion and approval. MWGs include experts in the business domain and, ideally, in the standards to be maintained. Members are country representatives appointed by their respective User Group Chairperson. The message text formats are developed in line, or in consultation, with various bodies: 1. MWGs review and agree on the validity of the change requests. 2. Country vote takes place on MWG-agreed changes. 3. The Board Standards Committee must approve the country-vote results before the changes are considered final and published in the final-srg. For more details on any of the processes described in this section, please visit Standards on or contact the Support team. 2.4 Message Envelope Structure All messages (financial and system) conform to a defined structure, generally including a header, a message text and a trailer. Note For further details about the message structure, see the FIN Service Description. 2.5 Message Validation Description Rule The SWIFT system validates the structure of all messages sent via the FIN network. If the SWIFT system finds an error, it will reject the message and inform the sender by a negative acknowledgement (NAK). The NAK will display a text error. Where possible, it will also give the location of the text error by indicating the number of the line on which the error occurred. 22 July

18 Introduction to Standards MT Exceptions Exceptions to this rule, which may be based on either system constraints or on the logical layout of the message or field, include: An error code and line number which relates to a network validated rule violation. In these situations, the system may give the line number of the last text line of the message, or if the error occurred within a repetitive sequence, the line number relative to either the beginning or end of the sequence. An error code and line number which indicate a text error on the previous line. Note For additional information about error codes, see the FIN Error Codes. Some errors, for example, an invalid message type, will prevent any further message validation by the SWIFT system. Message text validation Validation of message text includes checking the following: the correct sequence of fields the presence of mandatory fields, that is, those required in the message type being sent the presence of only those permitted optional fields for the message type correct content, for example, numbers or letters and length for each field/subfield; in some cases, codes are validated the permitted character set the presence of the decimal comma in numbers and amounts that, in amounts, the correct number of digits appears after the decimal comma for the currency of the message field, for example, not more than 2 for USD that the sum of individual amounts in the message is equal to the sum of amounts date validity, for example, day not higher than 31 conditional relationships, that is, the network validated rules for each message type. Depending on system constraints, not all conditional relationships will be validated by the SWIFT system codes, where an error code is specified in the Field Specifications of the message description 22 July

19 Business Identifier Code (BIC) 3 Business Identifier Code (BIC) Overview In the financial environment, a number of telecommunication services have defined coding schemes for identifying financial institutions as well as corporate entities. As a result, many financial institutions and some corporates have more than one code assigned, while others have no codes assigned. To ensure the availability of a unique identifier, an International Standard - ISO has been established. This standard specifies a universal method for identifying financial institutions and is intended to facilitate automated processing of telecommunication messages. SWIFT is the designated ISO Registration Authority for these ISO codes, and is responsible for their assignment and subsequent publication. BICs in messages ISO 9362 Business Identifier Codes (BICs) are used in certain fields of messages (for example, field 53a, Sender's Correspondent, or field 59A, Beneficiary Customer) to identify a party in the transaction. When a BIC is available (for example, the party to be specified has been assigned a BIC), it should be used whenever possible, as it is standardised and can therefore be automatically processed by the receiver. Both financial institutions and non-financial institutions can be identified with a BIC. Related information For more information on the BIC format and use of the BIC in SWIFT messages, see the SWIFT BIC Policy on swift.com. 22 July

20 Characters 4 Characters 4.1 SWIFT Character Set (X Character Set) Description Computer-based terminals communicating with SWIFT use EBCDIC code. The character set is as follows: a b c d e f g h i j k l m n o p q r s t u v w x y z A B C D E F G H I J K L M N O P Q R S T U V W X Y Z / -? : ( )., ' + CrLf Space The characters Cr and Lf must never be used as single characters and must only be used together in the sequence CrLf, that is, LfCr is not allowed. When the character sequence CrLf is used in a field format with several lines, it is used to indicate the end of one line of text and the start of the next line of text. 4.2 EDIFACT Level A Character Set (Y Character Set) Description In field 77F of MT 105, the EDIFACT level A character set, as defined in ISO 9735, is used. This character set is as follows: A B C D E F G H I J K L M N O P Q R S T U V W X Y Z , - ( ) / = ' + :?! " % & * < > ; Space Other characters are not allowed (Error code M60). 4.3 Information Service Character Set (Z Character Set) Description In fields 70F of MT 568, field 70G of the MT 564, and 77T of MT 103 REMIT, the allowed character set is as follows: a b c d e f g h i j k l m n o p q r s t u v w x y z A B C D E F G H I J K L M N O P Q R S T U V W X Y Z , - ( ) / = ' + :?! " % & * < > ; # _ Cr Lf Space 22 July

21 Characters Other characters are not allowed, including the curly bracket '}' (Error code M60). In a field format with several lines, the characters Cr and Lf must never be used as single characters and must only be used together in the sequence CrLf, that is, LfCr is not allowed. When CrLf is used in such fields, it will be interpreted as the end of one line of text and the start of the next line of text. In all other fields, the characters Cr and Lf may be used as single characters or in sequence, such as, CrLf or LfCr. 4.4 Representation of Non-SWIFT Characters Description A number of characters are not allowed in one or more of the SWIFT character sets. To use these characters in a field where the format does not allow it, SWIFT recommends using the character's hexadecimal EBCDIC code, preceded by two question marks (??) as escape sequence. The use of this encoding must be bilaterally agreed between the sender and receiver of the message. The following table lists all the SWIFT EBCDIC codes that can be used for the basic Latin characters that are not found in the X character set: Character Description EBCDIC < Less-than sign 4C! Exclamation mark 4F & Ampersand 50 Vertical bar 5A $ Dollar 5B * Asterisk 5C ; Semicolon 5E ^ Circumflex 5F % Percent sign 6C _ Low line (underscore) 6D > Greater-than sign 6E ` Grave accent 79 # Number sign Commercial At sign 7C = Equal sign 7E 22 July

22 Characters Character Description EBCDIC " Quotation mark 7F ~ Tilde A1 [ Left square bracket AD ] Right square bracket BD { Left curly bracket C0 } Right curly bracket D0 \ Reverse solidus (backslash) E0 Example The will be represented as??7c in a field that is restricted to characters from the X character set. 22 July

23 Message Structure and Message Types 5 Message Structure and Message Types 5.1 SWIFT Message Structure Overview All financial messages must conform to the rules of one of the message types described in the Standards MT volumes. Message Type (MT) Message Structure The message type is composed of three digits, generally defined as: Category Group Type MT nnn D Where: Category Group Type Usually describes, at a general level, the underlying business function of the message. For example: Category 1 = Customer Payments and Cheques. Describes the function of the message within the specified category. For example: 11n = Category 1 Cheque Payment Messages. Describes the specific function. For example: 112 = Status of a Request for Stop Payment of a Cheque. From the message type (which is located in the header of a message), the receiver of a message can help to determine the message's business and function, as well as the details of its composition. This section provides the general rules for message types. Detailed specifications pertaining to individual messages can be found in the related Category volumes. More information concerning the FIN message structure can be found in the FIN Operations Guide. 5.2 SWIFT Message Types Overview The following table lists all message types defined in the Standards MT volumes, effective as of the November 2016 Standards release. 22 July

24 Message Structure and Message Types For each message type, there is a short description, an indicator that the message type is signed (Y or N), the maximum message length (either 2,000 or 10,000) and whether the use of the message requires registration within a Message User Group (Y or N). Note List of Message Types A Message User Group, for the purposes of this book, is a group of users who have voluntarily agreed to support the specified message type and have registered with SWIFT to send or receive the specified message type. These messages are indicated in the following table, in the column "MUG". (More information about Message User Groups follows this table.) MT MT Name Purpose Signed (1) Max Length MUG 101 Request For Transfer 102 Multiple Customer Credit Transfer 102 STP Requests to debit a customer's account held at the receiver or at another institution. Conveys multiple payment instructions between financial institutions. Y 10,000 Y Y 10,000 Y 103 Single Customer Credit Transfer 103 STP Instructs a funds transfer. 103 REMIT Single Customer Credit Transfer Instructs a fund transfer. Y 10,000 Y 104 Direct Debit and Request for Debit Transfer Message Conveys direct debit instructions and requests for direct debits between financial institutions. Y 10,000 Y 105 EDIFACT Envelope An envelope which conveys a 2k EDIFACT message. Y 2,000 Y 107 General Direct Debit Message Conveys direct debit instructions between financial institutions. Y 10,000 Y 110 Advice of Cheque(s) Advises or confirms the issuance of a cheque to the drawee bank. 111 Request for Stop Payment of a Cheque 112 Status of a Request for Stop Payment of a Cheque Requests the drawee bank to stop payment of a cheque. Indicates action(s) taken in attempting to stop payment of a cheque. 22 July

25 Message Structure and Message Types MT MT Name Purpose Signed (1) Max Length MUG 190 Advice of Charges, Interest and Other Adjustments 191 Request for Payment of Charges, Interest and Other Expenses 192 Request for Cancellation Advises an account owner of charges, interest, and other adjustments. Requests payment of charges, interest, or other expenses. Requests the receiver to consider cancellation of the message identified in the request. 195 Queries Requests information relating to a previous message or amendment to a previous message. 196 Answers Responds to an MT 195 Query or MT 192 Request for Cancellation or other message where no specific message type has been provided for a response. 198 Proprietary Message 199 Free Format Message 200 Financial Institution Transfer for its Own Account Contains formats defined and agreed to between users and for those messages not yet live. Contains information for which no other message type has been defined. Requests the movement of the sender's funds to its account at another financial institution. 201 Multiple Financial Institution Transfer for its Own Account Multiple of the MT July

26 Message Structure and Message Types MT MT Name Purpose Signed (1) Max Length MUG 202 General Financial Institution Transfer 202 COV General Financial Institution Transfer Requests the movement of funds between financial institutions except if the transfer is related to an underlying customer credit transfer that was sent with the cover method, in which case the MT 202 COV must be used. Requests the movement of funds between financial institutions, related to an underlying customer credit transfer that was sent with the cover method. 203 Multiple General Financial Institution Transfer Multiple of the MT Financial Markets Direct Debit Message 205 Financial Institution Transfer Execution 205 COV Financial Institution Transfer Execution 207 Request for Financial Institution Transfer Claims funds from SWIFT member banks. Further transmits a transfer request domestically except if the transfer is related to an underlying customer credit transfer that was sent with the cover method, in which case the MT 205 COV must be used. Further transmits a transfer request domestically, related to an underlying customer credit transfer that was sent with the cover method. Requests to debit an ordering financial institution's account held at the receiving financial institution or the account servicing financial institution. Y (2) 2,000 Y Y 10,000 Y 22 July

27 Message Structure and Message Types MT MT Name Purpose Signed (1) Max Length MUG 210 Notice to Receive Notifies the receiver that it will receive funds for the sender's account. 256 Advice of Non- Payment of Cheques 290 Advice of Charges, Interest and Other Adjustments 291 Request for Payment of Charges, Interest and Other Expenses 292 Request for Cancellation Informs the sender of one or more previously sent cheque truncation messages of non-payment of one or more truncated cheques. It may also be used to specify dishonoured items that result in reversing a previous payment settlement. Advises an account owner of charges, interest, or other adjustments. Requests payment of charges, interest, or other expenses. Requests the receiver to consider cancellation of the message identified in the request. Y 10,000 Y 295 Queries Requests information relating to a previous message or amendment to a previous message. 296 Answers Responds to an MT 295 Queries message or an MT 292 Request for Cancellation or other message where no specific message type has been provided for a response. 298 Proprietary Message Contains formats defined and agreed to between users and for those messages not yet live. 22 July

28 Message Structure and Message Types MT MT Name Purpose Signed (1) Max Length MUG 299 Free Format Message 300 Foreign Exchange Confirmation 303 Forex/Currency Option Allocation Instruction 304 Advice/Instruction of a Third Party Deal Contains information for which no other message type has been defined. Confirms information agreed to in the buying/ selling of two currencies. Instructs the allocation of a block trade (forex or currency option). Advises of or instructs settlement of a third party foreign exchange deal. N 10,000 N N 10,000 Y Y 10,000 Y 305 Foreign Currency Option Confirmation 306 Foreign Currency Option Confirmation Confirms information agreed to in the buying and selling of vanilla options on currencies. Confirms information agreed to in the buying and selling of exotic options on currencies. N 2,000 N N 10,000 N 307 Advice/Instruction of a Third Party FX Deal 320 Fixed Loan/Deposit Confirmation 321 Instruction to Settle a Third Party Loan/ Deposit 330 Call/Notice Loan/ Deposit Confirmation 340 Forward Rate Agreement Confirmation Advises of or instructs settlement of a third party foreign exchange deal. Confirms the terms of a contract relative to a fixed loan/deposit transaction. Advises the trade details and instructs the settlement of a fixed term loan/deposit done with a third party financial institution. Confirms the terms of a contract relative to a call/ notice loan/deposit transaction. Confirms the details of a forward rate agreement. Y 10,000 Y N 10,000 N Y 10,000 Y N 10,000 N N 10,000 N 22 July

29 Message Structure and Message Types MT MT Name Purpose Signed (1) Max Length MUG 341 Forward Rate Agreement Settlement Confirmation 350 Advice of Loan/ Deposit Interest Payment 360 Single Currency Interest Rate Derivative Confirmation 361 Cross Currency Interest Rate Swap Confirmation 362 Interest Rate Reset/ Advice of Payment 364 Single Currency Interest Rate Derivative Termination/ Recouponing Confirmation 365 Cross Currency Interest Rate Swap Termination/ Recouponing Confirmation 370 Netting Position Advice 380 Foreign Exchange Order Confirms the settlement details of a forward rate agreement. Advises of a loan/deposit interest payment. Confirms the details of a single currency interest rate derivative swap, cap, collar or floor. Confirms the details of a cross currency interest rate swap transaction. Confirms or advises the reset rates of the floating interest rate(s) in a single or cross-currency interest rate derivative transaction and/or the payment of interest at the end of an interest period. Confirms the details of the partial or full termination or recouponing of a single currency interest rate swap, cap, collar, or floor. Confirms the details of the partial or full termination or recouponing of a cross currency interest rate swap. Advises the netting position of a currency Orders to purchase or sell a specific amount of a certain currency. N 10,000 N N 10,000 N N 10,000 N N 10,000 N N 2,000 N N 10,000 N N 10,000 N N 10,000 N Y 10,000 Y 22 July

30 Message Structure and Message Types MT MT Name Purpose Signed (1) Max Length MUG 381 Foreign Exchange Order Confirmation 390 Advice of Charges, Interest and Other Adjustments 391 Request for Payment of Charges, Interest and Other Expenses 392 Request for Cancellation Confirms the execution of an FX order previously sent. Advises an account owner of charges, interest, or other adjustments. Requests payment of charges, interest, or other expenses. Requests the receiver to consider cancellation of the message identified in the request. Y 10,000 Y N 2,000 N N 2,000 N N 2,000 N 395 Queries Requests information relating to a previous message or amendment to a previous message. 396 Answers Responds to an MT 395 Queries or an MT 392 Request for Cancellation or other message where no specific message type has been provided for a response. N 2,000 N N 2,000 N 398 Proprietary Message 399 Free Format Message Contains formats defined and agreed to between users and for those messages not yet live. Contains information for which no other message type has been defined. N 10,000 N N 2,000 N 400 Advice of Payment Advises of a payment under a collection or part thereof. It also handles the settlement of proceeds. 22 July

31 Message Structure and Message Types MT MT Name Purpose Signed (1) Max Length MUG 410 Acknowledgement Acknowledges receipt of a collection. It also specifies if the collecting bank does not intend to act in accordance with the collection instruction. 412 Advice of Acceptance 416 Advice of Non- Payment/Non- Acceptance Informs the remitting bank of the acceptance of one or more drafts under one collection instruction. Advises of the nonpayment or nonacceptance under a previously received collection. Y 10,000 Y 420 Tracer Enquires about documents sent for collection. 422 Advice of Fate and Request for Instructions 430 Amendment of Instructions 450 Cash Letter Credit Advice 455 Cash Letter Credit Adjustment Advice Advises the remitting bank of the fate of one or more collection documents; usually accompanied by one or more questions or requests. Amends collection instructions. Confirms that the face amount of cash letter(s) received has been credited under usual reserve (subject to final payment). Advises the account owner of adjustments made to its account (related to a previous credit for a cash letter). 456 Advice of Dishonour Advises the account owner that financial document(s) included in the cash letter have been dishonoured for reasons specified in the advice. 22 July

32 Message Structure and Message Types MT MT Name Purpose Signed (1) Max Length MUG 490 Advice of Charges, Interest and Other Adjustments 491 Request for Payment of Charges, Interest and Other Expenses 492 Request for Cancellation Advises an account owner of charges, interest, or other adjustments to its account. Requests payment of charges, interest, or other expenses. Requests the receiver to consider cancellation of the message identified in the request. 495 Queries Requests information relating to a previous message or amendment to a previous message. 496 Answers Responds to an MT 495 Queries message or MT 492 Request for Cancellation or other messages where no specific message type has been provided for the response. 498 Proprietary Message 499 Free Format Message 500 Instruction to Register Contains formats defined and agreed to between users and for those messages not yet live. Contains information for which no other message type has been defined. Instructs the registration, deregistration or reregistration of a financial instrument at the registration provider. 22 July

33 Message Structure and Message Types MT MT Name Purpose Signed (1) Max Length MUG 501 Confirmation of Registration or Modification Confirms the registration, deregistration or reregistration of a beneficial owner or shareholder with the registration provider. 502 (3) Order to Buy or Sell Instructs the purchase or sale of a given quantity of a specified financial instrument under specified conditions. 503 Collateral Claim Requests new or additional collateral, or the return or recall of collateral. 504 Collateral Proposal Proposes new or additional collateral. Y 10,000 Y Y 10,000 Y 505 Collateral Substitution Proposes or requests the substitution of collateral held. Y 10,000 Y 506 Collateral and Exposure Statement Provides the details of the valuation of both the collateral and the exposure. Y 10,000 Y 507 Collateral Status and Processing Advice 508 Intra-Position Advice 509 (3) Trade Status Message 510 Registration Status and Processing Advice Advises the status of a collateral claim, a collateral proposal, or a proposal/ request for collateral substitution. Reports on the movement of securities within the holding. Provides information about the status of a previously executed trade. Advises the status of a registration instruction or modification. Y 10,000 Y 22 July

34 Message Structure and Message Types MT MT Name Purpose Signed (1) Max Length MUG 513 Client Advice of Execution 514 Trade Allocation Instruction 515 (3) Client Confirmation of Purchase or Sale 516 Securities Loan Confirmation 517 Trade Confirmation Affirmation 518 Market-Side Securities Trade Confirmation 519 Modification of Client Details 524 Intra-Position Instruction Provides brief and early information about a securities deal, for example, a block trade that is to be allocated before final confirmation. Instructs the allocation of a block trade. Provides a detailed accounting of financial instruments purchased or sold by the sender on behalf of the receiver or its client. It may also convey the payment details of the purchase or sale. It may also be sent by, or via an ETC service provider. Confirms the details of a securities loan, including collateral arrangements. It may also confirm the details of a partial recall or return of securities previously out on loan. Positively affirms the details of a previously received confirmation/ contract note. Confirms the details of a trade and, where necessary, its settlement to a trading counterparty. Instructs the modification of client details at the registration provider. Instructs the movement of securities within the holding. 22 July

35 Message Structure and Message Types MT MT Name Purpose Signed (1) Max Length MUG 526 General Securities Lending/Borrowing Message 527 Triparty Collateral Instruction 530 Transaction Processing Command 535 Statement of Holdings 536 Statement of Transactions 537 Statement of Pending Transactions 538 Statement of Intra- Position Advices Requests the borrowing of securities or notifies the return or recall of securities previously out on loan. It may also be used to list securities available for lending. Performs a specific action on a collateral management transaction. Requests the modification of a processing indicator or other non-matching information. Reports at a specified time, the quantity and identification of securities and other holdings which the account servicer holds for the account owner. Provides details of increases and decreases of holdings which occurred during a specified period. Provides details of pending increases and decreases of holdings at a specified time. Provides details of increases and decreases in securities within the holding during a specified period. Y 10,000 Y 540 Receive Free Instructs a receipt of financial instruments free of payment. It may also be used to request a cancellation or pre-advise an instruction. 22 July

36 Message Structure and Message Types MT MT Name Purpose Signed (1) Max Length MUG 541 Receive Against Payment Instructs a receipt of financial instruments against payment. It may also be used to request a cancellation or pre-advise an instruction. 542 Deliver Free Instructs a delivery of financial instruments free of payment. It may also be used to request a cancellation or pre-advise an instruction. 543 Deliver Against Payment 544 Receive Free Confirmation 545 Receive Against Payment Confirmation 546 Deliver Free Confirmation 547 Deliver Against Payment Confirmation 548 Settlement Status and Processing Advice Instructs a delivery of financial instruments against payment. It may also be used to request a cancellation or pre-advise an instruction. Confirms a receipt of financial instruments free of payment. It may also be used to cancel or reverse a confirmation. Confirms a receipt of financial instruments against payment. It may also be used to cancel or reverse a confirmation. Confirms a delivery of financial instruments free of payment. It may also be used to cancel or reverse a confirmation. Confirms a delivery of financial instruments against payment. It may also be used to cancel or reverse a confirmation. Advises the status of a settlement instruction or replies to a cancellation request. 22 July

37 Message Structure and Message Types MT MT Name Purpose Signed (1) Max Length MUG 549 Request for Statement/Status Advice 558 Triparty Collateral Status and Processing Advice 559 Paying Agent's Claim 564 Corporate Action Notification 565 Corporate Action Instruction 566 Corporate Action Confirmation 567 Corporate Action Status and Processing Advice Requests a statement or a status message. Provides validation results and status advice re collateral instructions and proposed collateral movements. Claims reimbursement of income or redemption proceeds, or a combination of both. Provides an account owner with details of a corporate action event and the choices available to the account owner. It also provides the account owner with details on the impact a corporate action event will have on a safekeeping or cash account, for example, entitlement calculation. Instructs the custodian on the investment decision made by an account owner relative to a corporate action event. Confirms to the account owner that securities and/or cash have been credited/debited to an account as a result of a corporate action event. Indicates the status, or a change in status, of a corporate action-related transaction previously instructed by, or executed on behalf of, the account owner. Y 10,000 Y 22 July