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1 This document describes the requested changes for the next Standards MT Release. These requests must still be validated by a maintenance working group and some may be modified or rejected. Country user groups must still vote the approved requests and the Board must ratify those that are accepted by the country vote. This document also includes other technical changes that are foreseen for implementation at the same time as the Standards MT Release. The purpose of this document is to help technical implementers and operational users of the Standards MT messages to evaluate the impact of changes on interfaces and applications. 20 July 2017

2 Table of Contents Table of Contents Preface Introduction Schedule for SR Levels of the Change Requests Evaluation of the on Interfaces and Applications Category 0 FIN System s Other Technical Changes Category 1 Customer Payments and Cheques Category 2 Financial Institution Transfers Category 3 Foreign Exchange, Money Markets, and Derivatives Category 4 Collections and Cash Letters Category 5 Securities Markets Category 6 Commodities and Reference Data Category 7 Documentary Credits and Guarantees Category 8 Travellers Cheques Category 9 Cash Management and Customer Status Category n Common Group s...30 Legal Notices July

3 Preface Preface About this document This document gives an overview of all MT change requests received by SWIFT Standards for the next Standards MT Release. The purpose of this document is to inform the SWIFT community and allow them to start allocating budget and resources for the next maintenance of the Standards MT messages. Technical implementers and operational users of the MT messages can use this document to evaluate the impact on interfaces and applications. This document is not intended to be final. All change requests need to be validated by a maintenance working group (MWG) and can be subject to modification or rejection. After the MWG decision, user group chairpersons of all countries are able to discuss the change requests in their user group and vote on the acceptance or rejection of individual change requests. The SWIFT Board must ratify the outcome of the country vote. Intended audience This document is for the following audience: Technical implementers of the Standards MT messages Operational users of the Standards MT messages All other interested SWIFT users 20 July

4 Introduction 1 Introduction Important This document describes changes that are still requests. These requests must be validated by a maintenance working group and a number of them will be rejected. Country user groups must then vote the approved requests and the Board must ratify those that are accepted by the country vote. The document is part of the normal standards development and implementation procedures. This document describes the expected or requested changes for Standards MT Release 2018 (SR 2018). SWIFT distributes this document 16 months before the Standards MT Release live date. This document also includes other technical changes that are foreseen for implementation at the same time as the Standards MT Release, for example, changes to system messages. The sole purpose of this document is to help technical implementers and operational users of the SWIFT messages to evaluate the impact of changes on interfaces and applications. Consequently, implementers and users can plan resources and budget allocations for SR 2018 implementation. As this document describes requests that are not yet validated, a certain number of them will not be implemented or will be implemented differently following the validation process. Readers must therefore use this document for budget and resources planning purposes only. The Standards Release Guide 2018, which SWIFT will publish in December 2017, will fully describe SR Approved changes will be effective as of 18 November 2018, the release date on FIN. Note This publication is supplied for information purposes only, and shall not be binding nor shall it be construed as constituting any obligation, representation or warranty on the part of SWIFT. The information in this publication is the latest available at the date of its production, and may change. 20 July

5 Schedule for SR Schedule for SR 2018 The timeline below describes the schedule for development and implementation of SR SR 2018 Timeline The only official source for information about a Standards MT Release is the Important Standards Release Guide that is published in December. 20 July

6 Levels of the Change Requests 3 Levels of the Change Requests All change requests contain an evaluation of their impact on interfaces and applications expressed as a number in the range 0-3 with or without a plus "+" or minus "-" sign as in the following table. Index of impact s Level 0 Level 1 This is a minor change that does not impact the format of the message. For example, the scope of the message is updated, which may have an impact on some automated applications. This change relates to the use of the message format but does not affect the message structure or the FIN validation, for example, a definition or a usage rule is changed. Level 1+ Level 2- Level 2+ Level 3- Level 3 An existing message type is removed from the network The change has a small effect on the message structure and the FIN validation, for example, field formats, qualifiers or codes are added or deleted. The message layout or the FIN validation or both are significantly impacted, for example, fields or sequences (mandatory or optional) are added or deleted. A new message type is created for use in a message user group () or the use of an existing message type is changed from use in a to general use, that is, all users must be able to receive and process the new message. A new message type is created for general use, that is, all users must be able to receive and process the new message. 20 July

7 Evaluation of the on Interfaces and Applications 4 Evaluation of the on Interfaces and Applications on interfaces All changes can have a direct impact on interfaces. This also applies to 0 and 1 changes, which may require an update to input screens or help screens or both. on applications Level 0 changes should have no to minimum impact on applications. Higher changes will normally have an impact on applications, although the impact for applications sending the message may be different from the impact for applications receiving the message. Some changes may apply to message types that are to be implemented in a User Group (). Users that are not registered in the cannot send or receive messages of these message types. The impact on any application depends directly on the need or desire to support these message types. 20 July

8 5 When a change description is not clear without further explanation, a brief business context is provided to help the readers better understand the reasoning behind the change. 5.1 Category 0 FIN System s The following changes are tentatively scheduled for implementation in SR New change requests for SR 2018 MT 097 CR No Remove field 434. This field was designed and reserved for sanctions screening, but never got used on the network. 5.2 Other Technical Changes The following changes are tentatively scheduled for implementation in SR 2018, which are all for the SWIFT Payments Control Service (PCS). New change requests for SR 2018 Header block 3 CR No Update definition of code NOK in field 433. To indicate that it is also possible that the message was auto released by the service. Header block 3 CR No Add field 434 with the new name Payment Controls Information for the Receiver to header block 3. To provide information to the receiver from the Payments Control Service about the screened message. Header block 3 CR No Add field 434 to the list of header block 3 fields that do not allow characters Cr and Lf. To align with the other fields in the header block 3. Header block 3 CR No Modify the description of field 433. To indicate that the screening service provides information to the receiver of the screened message. 20 July

9 5.3 Category 1 Customer Payments and Cheques The following changes are tentatively scheduled for implementation in SR New change requests for SR 2018 These requests must still be validated by a maintenance working group and can be subject to modification or rejection. New CR No Develop a new MT to return payments. To replace incorrect and inefficient use of MTs that have code RETN in field 72, to increase STP for returns, to reduce sanctions screening problems and to align with pacs.004 in ISO MT 101 MT 102 MT 102 STP MT 104 MT 105 MT 107 MT 110 MT 111 MT 112 MT 190 MT 191 MT 192 MT 195 MT 196 MT 198 MT 199 REMIT STP CR No Except Be able to receive field 111 (Service Type Identifier) and field 121 (Unique End-to-End Transaction Reference (UETR)) in header MT 101 block 3. These two fields are used in the SWIFT Global Payment Innovation (SWIFT gpi) service that allows banks in the SWIFT gpi Closed User Group (CUG) to track payments based on a UETR. As of November 2017, members of SWIFT gpi will be able to include the header fields in MT 102 MT 104 MT 105 MT 107 all MTs 103 that they send, also to banks that are not in the CUG. The SWIFT gpi service is expanding in terms of MTs included in the service in which they also need to include field 111 and field 121 in header block 3. To avoid different requests per SWIFT gpi service expansion, it would be beneficial to have the capability to receive the fields in the header block 3 for all category 1 and category 2 messages. CR No Make field 121 (Unique End-to-End Transaction Reference (UETR)) Except mandatory in header block 3. To provide SWIFT gpi banks and their corporates with real time visibility of where a transaction is, while on the SWIFT network. REMIT MT 101 CR Yes Except Add an optional code for VAT amount in field 77B. To meet regulatory reporting requirements. MT 101 CR Yes Except Make it mandatory to indicate purpose of payment in field 77B. To fulfil AML regulations, sanctions screening and regulatory requirements. It will increase payments transparency as well as data monitoring and straight through processing of payments. 20 July

10 MT 102 MT 102 STP REMIT STP MT 101 MT 102 MT 102 STP REMIT STP MT 110 CR No Except Include codes for ultimate ordering and ultimate beneficiary party in MT payments messages. MT 102 To fulfil the FATF requirement to give accurate originator and REMIT beneficiary information and make sure there is a globally recognised standard solution that can be passed on unchanged throughout the payment chain which will provide more transparency. CR No Except Add a usage guideline for use of Chinese commercial codes (CCC) in MT payment messages and refer to the published CCC MT 101 conversion table. MT 102 To standardise conversion of Chinese characters between CNAPS and FIN messages, because the FIN character set does not allow for the use of Chinese characters. REMIT 20 July

11 5.4 Category 2 Financial Institution Transfers The following changes are tentatively scheduled for implementation in SR New change requests for SR 2018 These requests must still be validated by a maintenance working group and can be subject to modification or rejection. New CR No Develop a new MT to return payments. To replace incorrect and inefficient use of MTs that have code RETN in field 72, to increase STP for returns, to reduce sanctions screening problems and to align with pacs.004 in ISO Cat 2 CR No Except Be able to receive field 111 (Service Type Identifier) and field 121 (Unique End-to-End Transaction Reference (UETR)) in header MT 204 block 3. These two fields are used in the SWIFT Global Payment Innovation (SWIFT gpi) service that allows banks in the SWIFT gpi Closed User Group (CUG) to track payments based on a UETR. As of November 2017, members of SWIFT gpi will be able to include the header fields in all MTs 103 that they send, also to banks that are not in the CUG. The SWIFT gpi service is expanding in terms of MTs included in the service in which they also need to include field 111 and field 121 in header block 3. To avoid different requests per SWIFT gpi service expansion, it would be beneficial to have the capability to receive the fields in the header block 3 for all category 1 and category 2 messages. MT 202 COV MT 205 COV CR No Make field 121 (Unique End-to-End Transaction Reference (UETR)) mandatory in header block 3. To provide SWIFT gpi banks and their corporates with real time visibility of where a transaction is, while on the SWIFT network. MT 202 MT 205 CR No Make field 121 (Unique End-to-End Transaction Reference (UETR)) mandatory in header block 3. To provide SWIFT gpi banks with real time visibility of where a transaction is, while on the SWIFT network. MT 202 COV MT 205 COV CR No Include codes for ultimate ordering and ultimate beneficiary party in MT payments messages. To fulfil the FATF requirement to give accurate originator and beneficiary information and make sure there is a globally recognised standard solution that can be passed on unchanged throughout the payment chain which will provide more transparency. 20 July

12 MT 202 COV MT 202 COV MT 205 COV MT 210 CR No Add a usage guideline for use of Chinese commercial codes (CCC) in MT payment messages and refer to the published CCC conversion table. To standardise conversion of Chinese characters between CNAPS and FIN messages, because the FIN character set does not allow for the use of Chinese characters. 20 July

13 5.5 Category 3 Foreign Exchange, Money Markets, and Derivatives The following changes are tentatively scheduled for implementation in SR New change requests for SR 2018 These requests must still be validated by a maintenance working group and can be subject to modification or rejection. MT 300 MT 304 CR Yes Except Remove free format options and update code lists in trade party fields. MT 300 To improve message straight-through-processing and automated matching. MT 300 MT 304 CR Yes Except Remove free format options and update code lists in settlement party fields. MT 300 To improve message straight-through-processing and automated matching. MT 300 MT 304 MT 305 MT 306 MT 320 MT 321 MT 330 MT 340 MT 341 MT 360 MT 361 MT 380 MT 381 CR No Except Add field for place of settlement. MT 304 To avoid use of free format fields to indicate place of settlement for MT 321 offshore trades such as Hong Kong settled CNY. MT 380 MT 381 MT 300 CR No MT 305 MT 306 MT 320 Add MiFID II client reporting fields. To support MiFID II Delegated Act article 59 client reporting. MT 330 MT 350 MT 304 CR Yes Change conditionality of commission and fees fields. To allow for inclusion of commission and fees even where other accounting information is not present. 20 July

14 MT 300 MT 304 MT 305 MT 306 MT 340 CR No Except Update message usage rules. MT 304 To clarify that a FIN confirmation message cannot create a legal agreement between the parties. 20 July

15 5.6 Category 4 Collections and Cash Letters There are no changes requested for this category for SR July

16 5.7 Category 5 Securities Markets The following changes are tentatively scheduled for implementation in SR All category 5 messages modification There are no changes requested for SR Trade Initiation and Confirmation MTs 502, 509, 513, 514, 515, 517, 518, 528, 529, 576, 584 (alignment in other messages possible) New change requests for SR 2018 These requests must still be validated by a maintenance working group and can be subject to modification or rejection. MT 502 MT 509 MT 513 MT 514 MT 515 MT 518 CR No Add a buy-in code to the Settlement Transaction Type Indicator in sequence C and add a buying agent to the Trading Parties in sequence B2. To provide a buy-in mechanism, which is required by the CSDR for settlement fails. MT 513 MT 514 MT 515 MT 518 CR No Add a research fee qualifier RFEE to field 19A in sequence C3 of MT 513, MT 514, MT 515, and MT 518 and in sequence E3 of MT 541 and MT 543. To comply with MiFID II, which requires more transparency on research fees Settlement and Reconciliation MTs 508, 524, 535-8, 540-9, 578, 586 (alignment in other messages possible) New change requests for SR 2018 These requests must still be validated by a maintenance working group and can be subject to modification or rejection. MT 537 MT 548 CR No Add a Penalty sequence and a Penalty Redistribution sequence. To enable CSDs to implement a penalty mechanism for settlement fails by the CSDR. 20 July

17 MT 508 MT 536 MT 537 MT 538 CR No Add an even type code TXEV, for tax events, in MTs 564, 566, and 568 and add an optional non-repetitive qualifier TXEV to field 22F, in sequence C of MT 564 and in sequence D of MT 566 and add a network validation rule to control the presence of these two elements. Add also a new and non-repetitive gross taxable amount qualifier GRTX to field 19B, in sequence E2 of MT 564 and in sequence D2 of MT 566. To be able to report to investors about a withholding tax on deemed dividend distributions related to convertible securities as covered in the section 305(c ) US regulation and a withholding tax on dividend equivalent payment related to equity-linked derivative instruments as covered in the section 871(m) US regulation. MT 508 MT 536 MT 537 MT 538 CR No Add code TAXD for tax debit events, to qualifier CAEV, in field 22F of MTs 564, 566, and 568. Add also a new optional and nonrepetitive deemed payment rate qualifier DEEM and deemed payment amount qualifier DEEM in field 92a in sequence E2 of MT 564 and in sequence D2 of MT 566. To be able to report to non-resident investors about a withholding tax on deemed income originating from Attribution Managed Investment Trusts (AMIT) as covered in the new tax law amendment bill The deemed income is attributed to the unit holder without being actually distributed. MT 536 MT 537 MT 540 MT 541 MT 542 MT 543 MT 544 MT 545 MT 546 MT 547 MT 548 MT 549 MT 537 MT 548 CR No Add codes SWIF (switch from) and SWIT (switch to) to the qualifier SETR in field 22F. To enable users to indicate the settlement of switch orders. CR No Add a new reason code BPRI to qualifiers PEND and PENF in field 24B. Due to the absence of a proper SWIFT reason code, CSDs send an MT 548 with :25D::SETT//PEND and :24B::PEND//NARR. Further information is given in narrative field :70D::REAS// Overdue, higher, or equal priority order not settled. Use of the narrative field reduces STP. MT 537 MT 548 CR No Add a new code word "COMMITED" to qualifier PEND in field 24B. The "committed" code will give an assurance that the trade is committed in the market. 20 July

18 MT 541 MT 543 CR No Add a research fee qualifier RFEE to field 19A in sequence C3 of MT 513, MT 514, MT 515, and MT 518 and in sequence E3 of MT 541 and MT 543. To comply with MiFID II, which requires more transparency on research fees Corporate Action MTs 564, 565, 566, 567, 568 (alignment in other messages possible) New change requests for SR 2018 These requests must still be validated by a maintenance working group and can be subject to modification or rejection. MT 564 CR No Add a new network validated rule which applies to the stock lending deadline qualifier BORD. To remove inconsistencies in the number of occurrences that are allowed for some of the format options. This fully aligns the restrictions that are applied in ISO and ISO MT 564 MT 566 CR No Add a network validated rule, which applies to qualifiers TAXR and WITL. To remove inconsistencies in the allowed number of occurrences of TAXR and WITL, for some of the format options. MT 564 MT 567 CR No Add three optional and non-repeatable price qualifiers to field 90a, in sequence E of MT 564 and add a network validated rule to control the presence of these qualifiers together with :22F::OPTF//QCAS, also in sequence E. Add an optional and nonrepeatable amount qualifier STAC to field 19B in sequence B of MT 567 as well as a network validated rule. To enable full STP for instructions on cash amount that was introduced earlier in SR 2017 as some associated amounts information was missing. MT 565 CR No Add format option L to field 95a for an LEI identifier for the alternate identification of Beneficial Owner party field in sequence C of MT 565 and add a network validated rule to allow only one occurrence of :95L::ALTE. To enable the instructing party to quote an official LEI for the purpose of disclosing the underlying asset owner. 20 July

19 MT 564 MT 566 CR No Delete the non-resident rate qualifier NRES from field 92a in sequence E2 of the MT 564 and in sequence D2 of the MT 566. Delete the three rate type codes IMPU, PREC, and TIER from qualifier TAXC in field 92a in sequences E1 and E2 of MT 564 and in sequences D1 and D2 of MT 566. To clean-up the unused tax related rates and rate type codes. MT 564 MT 566 CR No Add a rate type code CDFI (Conduit Foreign Income) to qualifiers GRSS and NETT in field 92a in sequences E and E2 in MT 564 and in sequences D and D2 in the MT 566 and add an optional, nonrepetitive qualifier CDFI to field 19B in sequence E2 of the MT 564 and in the sequence D2 of MT 566. To be able to report to the investor within the frame of distribution of income events, the exact nature of an income when it originates from a foreign source and which is subject to different tax treatments as per the investor resident status. MT 564 MT 566 MT 568 CR No Add an even type code TXEV, for tax events, in MTs 564, 566, and 568 and add an optional non-repetitive qualifier TXEV to field 22F, in sequence C of MT 564 and in sequence D of MT 566 and add a network validation rule to control the presence of these two elements. Add also a new and non-repetitive gross taxable amount qualifier GRTX to field 19B, in sequence E2 of MT 564 and in sequence D2 of MT 566. To be able to report to investors about a withholding tax on deemed dividend distributions related to convertible securities as covered in the section 305(c ) US regulation and a withholding tax on dividend equivalent payment related to equity-linked derivative instruments as covered in the section 871(m) US regulation. MT 564 MT 566 MT 568 CR No Add code TAXD for tax debit events, to qualifier CAEV, in field 22F of MTs 564, 566, and 568. Add also a new optional and nonrepetitive deemed payment rate qualifier DEEM and deemed payment amount qualifier DEEM in field 92a in sequence E2 of MT 564 and in sequence D2 of MT 566. To be able to report to non-resident investors about a withholding tax on deemed income originating from Attribution Managed Investment Trusts (AMIT) as covered in the new tax law amendment bill The deemed income is attributed to the unit holder without being actually distributed. MT 566 CR No Add an optional and non-repeatable accepted balance and unaccepted balance qualifiers to field 93a in sequence B of MT 566. To improve payments processing and balance reporting for voluntary events involving proration such as tender, exchange, or election merger events. 20 July

20 MT 566 CR No Add three optional and non-repeatable amount qualifiers OSUB, REFU, and FINL to field 19B in sequence D2 of MT 566. To be able to report charges amounts related to subscriptions and oversubscriptions for rights or warrants exercise events. MT 564 CR No Modify the usage rule on the declared rate qualifier DEVI in field 92a in sequence D of MT 564. To be able to announce the declared rate via the DEVI qualifier even when that currency and rate is one of the currency options for the event. MT 564 MT 566 CR No Modify the definition of the certification deadline qualifier CERT in field 98 in sequence D of MT 564 and in the sequence C of MT 566. To enlarge the scope of the certification deadline beyond the simple declaration of beneficial ownership Collateral Management MTs , 527, 558, 569 (alignment in other messages possible) There are no changes requested for SR Other Category 5 changes New change requests for SR 2018 These requests must still be validated by a maintenance working group and can be subject to modification or rejection. MT 575 CR Yes Add an even type code TXEV, for tax events, in MTs 564, 566, and 568 and add an optional non-repetitive qualifier TXEV to field 22F, in sequence C of MT 564 and in sequence D of MT 566 and add a network validation rule to control the presence of these two elements. Add also a new and non-repetitive gross taxable amount qualifier GRTX to field 19B, in sequence E2 of MT 564 and in sequence D2 of MT 566. To be able to report to investors about a withholding tax on deemed dividend distributions related to convertible securities as covered in the section 305(c ) US regulation and a withholding tax on dividend equivalent payment related to equity-linked derivative instruments as covered in the section 871(m) US regulation. 20 July

21 MT 575 CR Yes Add code TAXD for tax debit events, to qualifier CAEV, in field 22F of MTs 564, 566, and 568. Add also a new optional and nonrepetitive deemed payment rate qualifier DEEM and deemed payment amount qualifier DEEM in field 92a in sequence E2 of MT 564 and in sequence D2 of MT 566. To be able to report to non-resident investors about a withholding tax on deemed income originating from Attribution Managed Investment Trusts (AMIT) as covered in the new tax law amendment bill The deemed income is attributed to the unit holder without being actually distributed. 20 July

22 5.8 Category 6 Commodities and Reference Data The following changes are tentatively scheduled for implementation in SR New change requests for SR 2018 These requests must still be validated by a maintenance working group and can be subject to modification or rejection. MT 600 MT 601 CR No Add MiFID II client reporting fields. To support MiFID II Delegated Act article 59 client reporting. MT 600 MT 601 CR No Update message usage rules. To clarify that a FIN confirmation message cannot create a legal agreement between the parties. 20 July

23 5.9 Category 7 Documentary Credits and Guarantees The following changes are tentatively scheduled for implementation in SR Change requests postponed from SR 2017 New CR No Create a new message (MT 744 Notice of Non-Conforming Reimbursement Claim). This message is sent by the reimbursing bank to the bank claiming reimbursement. It is used to notify the Receiver that the Sender considers the claim, on the face of it, as not to be in accordance with the instruction in the reimbursement authorisation for the reason(s) as stated in this message. The Sender also provides the Receiver with details regarding the disposal of the claim. New CR No Create a new message (MT 759 Ancillary Trade Structured ). This message is sent to request or to provide information, such as a fraud alert or a financing request, concerning an existing trade transaction such as a documentary credit, demand guarantee, standby letter of credit, or an undertaking (for example, a guarantee, surety, etc.). New CR No Create new extension message MT 708 The redesign of the MT 707 calls for a new extension message, which is this MT 708. MT 707 CR No Redesigned MT 707. The MT 707 has been completely redesigned to be a mirror image of the Issue of a Documentary Credit. This way, any field present in the can be amended using the MT 707. Codes have been added to specify which changes are being made in free format fields. MT 707 CR No Full alignment of MT 707 with updated (SR 2018 version), so that all changes can be done in specific, structured fields. Same business rationale as for the redesigned MT 707 planned for SR It will allow and enforce use of structured fields for amendments instead of free text. Senders will be impacted if they wish to amend fields that are now added to the MT 707. The free format field must not be used when a specific field is available for the amendment. Receivers of the MT 707 must be able to accept and process messages that contain these changes. 20 July

24 MT 756 CR No Add a free format text field in MT 756 as it is in MT 752 (SR 2018 version). There is not enough space in field 72Z for all details related to the reimbursement or payment conditions. This change is optional for senders. Receivers of the MT 756 must be able to accept and process messages that contain the new field. MT 701 MT 711 MT 721 CR No Add two new fields: Special Payment Instructions for Beneficiary/Receiving Bank. These two fields will provide a place for information that is now put in other free format fields. The first field specifies special payment conditions applicable to the beneficiary, for example, post-financing request/conditions for beneficiary. The second field specifies special payment conditions applicable to the receiving bank, for example, postfinancing request/conditions for receiving bank only. CR No Add new field for Requested Confirmation Party after field 49 Confirmation Instructions. In some scenarios, it is not always clear which bank is requested to add its confirmation, this field is therefore required to specify it. MT 707 CR No Add field 45A, 46A, and 47A as optional fields in MT 707, and add Sequence Of Total, so that multiple MTs 707 can be sent for one amendment. As part of an amendment, allow full replacement text to be provided for the fields 45A Description of Goods and/or Services, 46A Documents Required and 47A Additional Conditions. MT 730 MT 752 CR No Add field 79 to MT 730 and MT 752. To accommodate information that does not fit in the structured fields of this message. MT 742 CR No Add an optional field in MT 742 for compliance requirements. This is needed for compliance (type of goods, vessel, bill of lading, shipping company, etc.). 20 July

25 MT 730 MT 740 MT 742 MT 750 MT 752 MT 754 MT 701 MT 705 MT 711 MT 721 MT 705 MT 707 MT 730 MT 732 MT 740 MT 742 MT 747 MT 750 MT 752 MT 754 MT 756 MT 705 CR No Use z character set in all charges fields. The X character set lacks some commonly used characters for example &. Current workarounds are not satisfactory. CR No Use z character set in field 45A, 46A,and 47A. The X character set lacks some commonly used characters for example &. Current workarounds are not satisfactory. CR No Use z character set in field 72. The X character set lacks some commonly used characters for example &. Current workarounds are not satisfactory. CR No Delete all codes that relate to revocable documentary credits from field 40A. In practice, revocable instruments no longer exist. These codes are therefore obsolete and must be removed. CR No Change the format of field 43P and introduce codes. To make the field more precise and more structured, allowing for automation. CR No Change the format of field 43T and introduce codes. To make the field more precise and more structured, and to allow for automation. 20 July

26 CR No Change format and definition of field 48. To make the field more precise and more structured, and to allow for automation. MT 734 MT 750 MT 754 CR No Use z character set in fields 77J, 77B, and 77A. The X character set lacks some commonly used characters for example &. Current workarounds are not satisfactory. MT 734 MT 750 MT 754 CR No Use z character set in field 73. The X character set lacks some commonly used characters for example &. Current workarounds are not satisfactory. MT 701 MT 711 MT 721 CR No Change usage rule in fields 45a, 46a, and 47a. The rule about the number of occurrences of these fields is too restrictive and many institutions are forced to bypass it, as this is not a network-validated rule. This change aligns the usage rule with the market practice. MT 701 MT 711 MT 721 CR No Change usage rule about number of continuation messages. The limit of three continuation messages is too low and many institutions send more than three, as this is not a network-validated rule. This change aligns the usage rule with the market practice. CR No Change definition in field 49. To clarify the definition. CR No Rename field 48 Period for Presentation to "Period for Presentation in days" To align field name and format change. 20 July

27 MT 740 CR No Rename field 42P Deferred Payment Details to "Negotiation/Deferred Payment Details" To clarify the field name as the field can also be used for negotiation details. New change requests for SR 2018 These requests must still be validated by a maintenance working group and can be subject to modification or rejection. MT 707 CR No Add field 50 Changed Applicant Details in new MT 707 This change relates to the new MT 707 that is part of SR This will allow the sender to communicate changes to the name or address of the applicant (for example, in case of merger) MT 760 CR No Add an optional field for Transfer Conditions. This change relates to the new MT 760 that is part of SR MT 705 MT 740 MT 705 MT 740 MT 747 CR No Increase length of fields 50 and 59. These fields are not long enough. CR No Remove field 39B Maximum Credit Amount, which contains only one code NOT EXCEEDING. This change relates to the new and related that is part of SR This code does not seem to make any difference, being present or not. CR No Delete some usage rules about freely negotiable documentary credits These sentences are out of scope of the SWIFT messages because it is not related to the correct usage and transmission of documentary credits information on the SWIFT network 20 July

28 5.10 Category 8 Travellers Cheques There are no changes requested for this category for SR July

29 5.11 Category 9 Cash Management and Customer Status The following changes are tentatively scheduled for implementation in SR New change requests for SR 2018 These requests must still be validated by a maintenance working group and can be subject to modification or rejection. MT 940 MT 942 MT 950 MT 970 MT 972 CR No Add a subfield Timestamp to field 61 statement line. To indicate the date, time, and time zone when the entry is posted to the account and is necessary for intraday liquidity management and reporting. MT 910 CR No Add a usage guideline for use of Chinese commercial codes (CCC) in MT payment messages and refer to the published CCC conversion table. To standardise conversion of Chinese characters between CNAPS and FIN messages, because the FIN character set does not allow for the use of Chinese characters. 20 July

30 5.12 Category n Common Group s The following changes are tentatively scheduled for implementation in SR New change requests for SR 2018 These requests must still be validated by a maintenance working group and can be subject to modification or rejection. MT n92 CR No Add optional cancellation reason codes to field 79. To introduce structured codes that enable a consistent understanding and alignment with ISO 20022, to reduce ambiguity and to allow code word based prioritised workflow. MT n96 CR No Add optional codes to field 76. To have dedicated answer codes for cancellation requests related to fraud. MT n96 CR No Add optional response and reason codes to field 76. To introduce different structured codes that enable a consistent understanding and alignment with ISO 20022, to reduce ambiguity and to allow code word based prioritised workflow. MT n98 CR No Change the character set for field 77E in the MT n98. This change is required to include interbank trade messages starting from SR 2018 (as they will contain z characters). MT n92 CR No Update usage rule for the code word FRAD in field 79. To make the usage rule with code FRAD applicable when the payment origin is suspected to be fraudulent. 20 July

31 Standards MT November 2017 Legal Notices Legal Notices Copyright SWIFT All rights reserved. Disclaimer This publication constitutes advance information only and is not to be considered the final and complete standards documentation for the subject matter published herein. The information in this publication may change from time to time. You must always refer to the latest available version. SWIFT Standards Intellectual Property Rights (IPR) Policy - End-User License Agreement SWIFT Standards are licensed subject to the terms and conditions of the SWIFT Standards IPR Policy - End-User License Agreement, available at > About Us > Legal > IPR Policies > SWIFT Standards IPR Policy. Translations The English version of SWIFT documentation is the only official and binding version. Trademarks SWIFT is the trade name of S.W.I.F.T. SCRL. The following are registered trademarks of SWIFT: the SWIFT logo, SWIFT, SWIFTNet, Accord, Sibos, 3SKey, Innotribe, the Standards Forum logo, MyStandards, and SWIFT Institute. Other product, service, or company names in this publication are trade names, trademarks, or registered trademarks of their respective owners. 20 July