Updated High-Level Information

Transcription

1 This document is an updated version of the High-Level Information document that was published on in July All the expected or requested changes described in that document were validated by a maintenance working group and were either approved or rejected. This document provides information about which of the changes were accepted for the next Standards Release and which were rejected by the maintenance working groups. The purpose of this document is to help technical implementers and operational users of the Standards messages to evaluate the impact of changes on interfaces and applications. 24 November 2017

2 Table of Contents Table of Contents Introduction Background Information Schedule for SR Levels of the Change Requests Evaluation of the on Interfaces and Applications Overview of Changes per Business Area Acceptor to Inquirer Card Transaction (caaa) Account Management (acmt) Administration (admi) Authorities (auth) Cash Management (camt) Collateral Management (colr) Payments Clearing and Settlement (pacs) Payments Initiation (pain) Payments Remittance Advice (remt) Reference Data (reda) Securities Clearing (secl) Securities Events (seev) Securities Management (semt) Securities Settlement (sese) Securities Trade (setr) Trade Services Management (tsmt) Treasury (trea)...28 Legal Notices November

3 About this document This document gives an overview of all change requests received by SWIFT Standards for the next Standards Release. The purpose of this document is to provide the SWIFT community with an update to the initial high- information that was published in July Technical implementers and operational users of the messages can use this document to evaluate the impact on interfaces and applications. Intended audience This document is for the following audience: Technical implementers of the Standards messages Operational users of the Standards messages All other interested SWIFT users 24 November

4 1 Introduction Important This document describes changes that are still under review and minor changes may occur. Change requests for the ISO equivalents of the FIN (MT) category 5 Settlement & Reconciliation and Corporate Actions messages were validated by maintenance working groups and some of them were rejected. Country user groups have voted on the approved requests and the Board will ratify the voting results at its December 2017 meeting. The document is part of the normal standards development and implementation procedures. This document describes the expected or requested changes for Standards Release 2018 (SR 2018). SWIFT distributes this document 12 months before the standards release live date. 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 the SR 2018 implementation. As this document describes requests that are still under review, it is possible that a few will be implemented differently following the validation process. Readers must therefore use this document for budget and resources planning purposes only. Advance documentation for the standards for SR 2018 will be published in January 2018 although the documentation may not be complete because ratification by ISO is still pending. In May 2018, the final standards for SR 2018 will be published in the Standards section of the User Handbook Online. Approved changes will be effective as of 17 November 2018, the release date on SWIFT. 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. 24 November

5 2 Background Information An XML message that is on the SWIFT network is also known as an message. Most of the XML messages on the SWIFT network are ISO approved messages. Although ISO may approve change requests, SWIFT decides, in conjunction with its customers, whether maintained ISO messages will be released on the SWIFT network. In general, SWIFT knows in the June/July time frame whether or not it will carry out maintenance on messages for the following year s release. SWIFT and ISO maintenance If the messages concerned are ISO messages, ISO publishes the change requests in the ISO Catalogue of Change Requests. The organisations that will carry out an ISO maintenance (typically SWIFT if the messages are on the SWIFT network) create maintenance change request (MCR) documents, which indicate for each approved change request how the change request will be implemented and the resulting impact on the targeted messages. A different process applies to the Settlement & Reconciliation (S&R) and Corporate Action (CA) messages. In order to keep the ISO S&R and CA messages synchronised with their ISO equivalents, a change request submitted for an ISO message that has an equivalent is automatically regarded as a change request for the messages. The SWIFT S&R and CA working groups meet to discuss and approve or reject the ISO change requests. Subsequently the change requests are subject to the ISO approval process. Upon approval by the relevant ISO Standards Evaluation Groups (SEGs) or SEG evaluation teams, the MCR documents are published on by 1 October. In November, SWIFT publishes a list of the changes that were approved by the ISO SEGs. 24 November

6 3 Schedule for SR 2018 The timeline below describes the schedule for development and implementation of SR SR 2018 Timeline 24 November

7 4 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 structure of the message but it may have an impact on some automated applications, for example, the scope of the message is updated. This change relates to the use of the message syntax but does not affect the message structure or the message validation, for example, a definition or a usage rule is changed. Level 1+ Level 2- Level 2+ Level 3- An existing message is removed from the network. The change has a small effect on the message syntax and the message validation, for example, simple data are changed. The message syntax or the message validation or both are significantly impacted, for example, an element or a message component or a message building block is added or deleted, or a validation rule is changed or added. A new message is created for use in a closed user group (CUG) or is added to an existing CUG. 24 November

8 5 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 that send the message may be different from the impact for applications that receive the message. 24 November

9 6 Overview of Changes per Business Area When a change description is not clear without further explanation, a brief business context is sometimes provided to help the readers better understand the reasoning behind the change. 6.1 BIC changes The ISO 9362 Business Identifier Code (BIC) standard was revised in A transition period started in January 2015 and will end in November All users must carefully plan and budget for systems or process changes, if any, to be prepared on time. All details of implementation changes and impact of the revised ISO 9362 BIC standard can be found in the information paper: A summary of what has changed: BIC owners are responsible for the maintenance of the data related to their BICs and must keep it up-to-date and confirm the accuracy at least once a year The SWIFTRef BIC Plus directory contains enriched data and replaces BIC directory that will be decommissioned in November 2018 After 18 November 2018, SWIFT will no longer issue BICs with "1" in position 8 After 18 November 2018, a change of connectivity status will no longer systematically imply the expiry and creation of a new BIC A summary of what has NOT changed: Existing connected and non-connected BICs are not changed Structure of the BIC is not changed There will always be connected and non-connected BICs 6.2 Acceptor to Inquirer Card Transaction (caaa) There are no changes scheduled for implementation in SR Account Management (acmt) There are no changes scheduled for implementation in SR Administration (admi) There are no changes scheduled for implementation in SR Authorities (auth) There are no changes scheduled for implementation in SR November

10 6.6 Cash Management (camt) The following changes are scheduled for implementation with SR Changes will be implemented in new versions of messages. From camt.003 till camt.021 camt.023 camt.024 camt.025 camt.046 camt.047 camt.048 camt.049 camt.050 camt.051 camt.069 camt.070 camt.071 camt.052 camt.053 camt.054 CR No ( CR U001-ISO-2018 ) Submit the messages for ISO registration. During the previous maintenance cycles, the maintenance working group requested to register the messages as SWIFT messages only. It was decided to only take submission to ISO into account once the T2S testing is completed and no additional changes are required for implementation. As a stable version, following the completion of the migration of T2S, is reached, proposal is to submit the messages for ISO registration. CR No (ISO CR 0693) Modify Transaction Summary to enable multiple reporting at bank transaction code with a date/time indication. camt.026 camt.027 camt.028 camt.029 camt.037 camt.055 camt.056 camt.087 camt.087 To enable the inclusion of multiple transaction summaries and include the time for each of these in line with current business practices. The ISO Payments SEG agreed to an alternative implementation (not making Transaction Summary repetitive, but data will be added in the repetitive Total Entries Per Bank Transaction Code). CR No (ISO CR 0666) Add underlying payment instruction elements. The EPC 2017 SCT Rulebook v1.0 requires the messages to contain all details of the underlying payment instruction that is being modified. ISO Payments SEG agreed to implement the changes and use the same underlying payment component in all messages identified during the impact analysis on top of the 3 originally identified. camt.029 CR No (ISO CR 0679) Add codes and externalise the code lists for modification and cancellation status codes. The message will be implemented by several additional Market Infrastructure communities. In order to facilitate addition of new codes, it is requested to transform the code lists into ISO external code sets. 24 November

11 camt.028 CR No (ISO CR 0689) Add up to three previous instructing agents. The nature of the change is of regulatory/compliance nature. In case of more complex payment chains, financial institutions might not be in a position to convey complete information from incoming payments into their outbound messages in a structured and transparent manner. camt.029 camt.052 camt.053 camt.054 camt.055 camt.056 CR No (ISO CR 0691) Modify Related Parties to support financial institution identification. To enable the inclusion of complete and structured information on all parties that were involved in a transaction that caused an account entry reported in any of the reporting messages. camt.052 camt.053 camt.054 CR No (ISO CR 0691) Modify Related Parties and Related Agents to support additional scenarios. To enable the inclusion of complete and structured information on all parties that were involved in a transaction that caused an account entry reported in any of the reporting messages. The ISO Payments SEG agreed to implement the change in all messages using the updated component. camt.052 camt.053 camt.054 camt.060 CR No (ISO CR 0694) Update Reporting Period and add reporting sequence element. To increase the flexibility and value for users in (requesting) account reports by adding the capability to select a sequence range of messages -a widespread practice within market infrastructures-, complementing today s mechanism where reporting is based on date and time ranges only. camt.026 camt.027 camt.028 camt.029 camt.031 camt.033 camt.034 camt.035 camt.036 camt.037 camt.055 camt.056 camt.087 CR No (ISO CR 0695) Make element Case optional and update scope of the message. The use of the Exceptions & Investigation message set has not yet reached critical mass. Although longer term the mechanism of assigning a case to an investigation might make sense, at this time the concept might be an inhibitor to broader adoption, potentially even driving the industry towards the use of pure free format options. 24 November

12 camt.052 camt.053 camt.054 CR No (ISO CR 0696) Make Creation Date Time optional in Report and Notification elements. To correct, align or remove ambiguity from the definitions. As Creation Date Time is already mandatory at the message Groupheader, the change to make it optional in the report and notification will avoid duplication of information in case a single account report or account notification is sent, or if systems are not capable of generating multiple dates and times. camt.052 camt.053 CR No (ISO CR 0697) Make Credit Line repetitive and add a Credit Line Type. To enable the inclusion of multiple credit lines and allow specifying the type of credit line in line with current business practices for each occurrence. camt.052 camt.053 camt.054 CR No (ISO CR 0698) Add a new optional element Local Instrument to the component Transaction Details. Many communities that are implementing ISO use the Local Instrument element in the payment messages to differentiate between the different of transactions, for example, domestic versus foreign credit transfers. The change will allow reporting those local payment with the transaction details. camt.087 CR No (ISO CR 0701) Add new element Settlement Priority. To allow member banks of the Clearing House community to request the modification of the settlement priority (Normal, High, Urgent) present in the underlying payment instruction (pacs.008, pacs.009 and pacs.004). Within the CHIPS community, modification of settlement priority is the only modification permitted. This change request has been withdrawn by the submitter. From camt.003 till camt.021 camt.023 camt.024 camt.025 From camt.046 till camt.051 camt.069 camt.070 camt.071 CR No ( CR I003-ISO-2018) Add Supplementary Data message block. To accommodate the needs of specific communities of users without impacting the global community of users. This is an approved change request pending implementation (see also ISO CR 0118). 24 November

13 camt.006 CR No ( CR U002-T2S-2018) Add new securities settlement transaction references Currently, T2S uses the Identification and Transaction Identification elements in Transaction/Transaction/Payment to report the T2S Actor Reference and T2S Reference (MITI) of the underlying securities settlement instruction. These elements are intended for cash related references and not securities related references from a standardisation perspective and in addition, these 2 elements do not provide the granularity which is required for proper reporting of securities related references in T2S. From camt.003 till camt.021 camt.023 camt.024 camt.025 From camt.046 till camt.051 camt.069 camt.070 camt.071 CR No ( CR I004-ISO-2018) Remove duplicate components in cash management messages. To eliminate a series of message components that are present in the ISO data dictionary and that are duplicates of other existing message components (based on ISO CR 475). Those components have been marked as obsolete by the ISO RA and cannot be used anymore. camt.008 CR No ( CR I005-ISO-2018) Add new code and externalise cancellation reason codes set. To align the cancellation reason codes with the updated reason codes in the ISO messages, which have been externalised as part of SR 2017 (see ISO CR 0635). camt.026 camt.027 camt.028 camt.029 camt.037 camt.055 camt.056 camt.087 camt.052 camt.053 camt.054 CR No (ISO CR 0688) Align and update definition of Original Identification and Original Interbank Settlement Amount. To align and remove ambiguity from the definitions. The ISO Payments SEG agreed to align all messages using the same component. CR No (ISO CR 0690) Modify the component Entry to avoid duplication of the same information. Currently the structure works for single entries that result from multiple underlying transactions. However, for those communities that consider implementing the message to report single transaction entries, the standard imposes to duplicate the same information (i.e., Amount, Debit Credit Indicator) at multiple s. 24 November

14 camt.052 camt.053 camt.054 camt.060 CR No (ISO CR 0692) Modify and externalise the codes for the Balance/Type and Entry/Status. To increase the usability of the messages. Historically, the messages were developed for use in the corporate-to-bank space, but most of the adoption initiatives today focus on the interbank space where the reporting messages will be rolled out to report on accounts owned by financial institutions and serviced by other financial institutions or market infrastructures. 24 November

15 6.7 Collateral Management (colr) There are no changes scheduled for implementation in SR November

16 6.8 Payments Clearing and Settlement (pacs) The following changes are scheduled for implementation with SR Changes will be implemented in new versions of messages. pacs.002 pacs.007 pacs.028 CR No (ISO CR 0666) Add underlying payment instruction elements. The EPC 2017 SCT Rulebook v1.0 requires the messages to contain all details of the underlying payment instruction that is being modified. ISO Payments SEG agreed to implement the changes and use the same underlying payment component in all messages identified during the impact analysis on top of the 3 originally identified. pacs.004 CR No (ISO CR 0685) Add Clearing System Reference and Original Interbank Settlement Date in the return information. Within some communities, a Payment Return message is considered as a new Payment Instruction message. For regulatory and processing reasons, it has to transport additional information which would typically be found in the pacs.008 message (FI To FI Customer Credit Transfer). pacs.004 CR No (ISO CR 0687) Add a new optional component Return Chain. The change is of regulatory/compliance nature. In certain communities, for example, the US, the return of a payment is considered a new payment instruction that needs to be processed under the same legal requirements as an original payment instruction, i.e., the payment return must provide full transparency on all parties involved in the return. pacs.004 pacs.008 pacs.009 CR No (ISO CR 0689) Add up to three previous instructing agents. The nature of the change is of regulatory/compliance nature. In complex payment chains, financial institutions may not be in a position to convey complete information from incoming payments into their outbound messages in a structured and transparent manner. pacs.002 pacs.007 pacs.028 CR No (ISO CR 0691) Modify Related Parties to support financial institution identification. To enable the inclusion of complete and structured information on all parties that were involved in a transaction that caused an account entry reported in any of the reporting messages.. 24 November

17 pacs.002 pacs.004 pacs.007 pacs.028 CR No (ISO CR 0688) Align and update definition of Original Identification and Original Interbank Settlement Amount. To align and remove ambiguity from the definitions. The ISO Payments SEG agreed to align all messages using the same component. 24 November

18 6.9 Payments Initiation (pain) The following changes are scheduled for implementation with SR Changes will be implemented in new versions of messages. pain.002 pain.007 CR No (ISO CR 0666) Add underlying payment instruction elements. The EPC 2017 SCT Rulebook v1.0 requires the messages to contain all details of the underlying payment instruction that is being modified. ISO Payments SEG agreed to implement the changes and use the same underlying payment component in all messages identified during the impact analysis on top of the 3 originally identified. pain.002 CR No (ISO CR 0691) Modify Related Parties to support financial institution identification. To enable the inclusion of complete and structured information on all parties that were involved in a transaction that caused an account entry reported in any of the reporting messages. 24 November

19 6.10 Payments Remittance Advice (remt) There are no changes scheduled for implementation in SR Reference Data (reda) There are no changes scheduled for implementation in SR Securities Clearing (secl) There are no changes scheduled for implementation in SR November

20 6.13 Securities Events (seev) The following changes are scheduled for implementation with SR Changes will be implemented in new versions of messages. seev.033 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. seev.035 CR No (ISO ID: CR 0663) Add two new optional and non-repeatable elements Base Denomination and Incremental Denomination in the sequence Corporate Action Details. To streamline the processing of the lottery events regarding the securities amounts. seev.042 CR No (ISO ID: CR 0662) Add two new optional and non-repeatable balance elements to the sequence Total Instructed Balance Details of the Instruction Statement Report message and a new optional and repeatable sequence Option Instruction Details in the sequence Total Instructed Balance Details/Option Details with 11 new message elements. To enable the message to carry more detailed information about the whole sequence of received instructions per individual option. Change Request has been rejected. seev.039 CR No (ISO ID: CR 0665) Add a new optional and repeatable element Additional Text and a new optional and non-repeatable sequence Additional Business Process Indicator with 4 codes for Partial Prerefunding, Consents, Partial Mandatory Puts and Full Prerefunding. To provide some specific event details that are only known when the event is being cancelled and to better identity the event when dealing with event cancellation similarly to what is done already in the announcement message. seev.042 CR No (ISO ID: CR 0661) Delete the elements Deadline Date Time and Deadline Type in the sequence Option Details and replace them by a sequence Event Deadline with the three event deadlines Early Response Deadline, Response Deadline and Market Deadline and change the data type to also allow the date code "Unknown". To enable the possibility to report the 3 of deadlines simultaneously instead of a single deadline and allow for date code "Unknown" to be provided. 24 November

21 seev.036 CR No (ISO ID: CR 0664) Add a new optional element Pagination to the confirmation message. To enable confirmation messages to be paginated as it may exceed the 100K characters limit when adding the confirmation extensions information (supplementary data). seev.031 seev.035 seev.036 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. seev.031 seev.035 seev.036 CR No Add a rate type code CDFI (Conduit Foreign Income) to qualifiers GRSS and NETT in field 92a and add an optional, non-repetitive qualifier CDFI to field 19B. 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. seev.031 seev.035 seev.036 seev.037 seev.039 seev.044 CR No Add code TAXD for tax debit events, to qualifier CAEV, in field 22F. Add also a new optional and non-repetitive deemed payment rate qualifier DEEM and deemed payment amount qualifier DEEM in field 92a. 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. A single solution was adopted for both CR 1300 and CR 1317, which is to add new code TNDP (Tax on Non-Distributed Proceeds) to qualifier CAEV in field 22F of sequence A, to add a new optional qualifier TNDP in field 22F in sequence D and to add also a new optional and repetitive deemed rate qualifier DEEM in field 92a and a new optional deemed amount qualifier DEEM in field 19B. seev.031 seev.033 seev.034 seev.035 seev.041 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. 24 November

22 seev.036 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. seev.036 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. seev.031 seev.035 seev.036 seev.037 seev.039 seev.044 CR No Add an even type code TXEV, for tax events, add an optional nonrepetitive indicator qualifier TXEV to field 22F 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. 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. A single solution was adopted for both CR 1300 and CR 1317, which is to add new code TNDP (Tax on Non-Distributed Proceeds) to qualifier CAEV in field 22F of sequence A, to add a new optional qualifier TNDP in field 22F in sequence D and to add also a new optional and repetitive deemed rate qualifier DEEM in field 92a and a new optional deemed amount qualifier DEEM in field 19B. seev.031 seev.035 seev.036 CR No Delete the non-resident rate qualifier NRES from field 92a. Delete the three rate type codes IMPU, PREC and TIER from qualifier TAXC in field 92a. To clean-up the unused tax related rates and rate type codes. seev.031 CR No (ISO ID: CR 0660) Modify the name of the element Interest to Interest Rate in the sequence Corporate Action Details/Rate And Amount Details and modify the definition. To align the name and definition of this element with all the other Interest Rate elements present in the CA messages. 24 November

23 seev.031 CR No Modify the definition of the certification deadline qualifier CERT in field 98. To enlarge the scope of the certification deadline beyond the simple declaration of beneficial ownership. seev.031 CR No Modify the usage rule on the declared rate qualifier DEVI in field 92a. To be able to announce the declared rate via the DEVI qualifier even when that currency and rate is one of the many currency options offered for the event. 24 November

24 6.14 Securities Management (semt) The following changes are scheduled for implementation with SR Changes will be implemented in new versions of messages. semt.017 semt.018 semt.019 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. semt.018 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. semt.015 semt.016 semt.017 semt.018 CR No Add code TAXD for tax debit events, to qualifier CAEV, in field 22F. Add also a new optional and non-repetitive deemed payment rate qualifier DEEM and deemed payment amount qualifier DEEM in field 92a. 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. A single solution was adopted for both CR 1300 and CR 1317, which is to add new code TNDP (Tax on Non-Distributed Proceeds) to qualifier CAEV in field 22F of sequence A, to add a new optional qualifier TNDP in field 22F in sequence D and to add also a new optional and repetitive deemed rate qualifier DEEM in field 92a and a new optional deemed amount qualifier DEEM in field 19B. semt.018 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. semt.015 semt.016 semt.017 semt.018 CR No Add an even type code TXEV, for tax events, add an optional nonrepetitive indicator qualifier TXEV to field 22F 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. 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. 24 November

25 A single solution was adopted for both CR 1300 and CR 1317, which is to add new code TNDP (Tax on Non-Distributed Proceeds) to qualifier CAEV in field 22F of sequence A, to add a new optional qualifier TNDP in field 22F in sequence D and to add also a new optional and repetitive deemed rate qualifier DEEM in field 92a and a new optional deemed amount qualifier DEEM in field 19B. 24 November

26 6.15 Securities Settlement (sese) The following changes are scheduled for implementation with SR Changes will be implemented in new versions of messages. sese.023 CR No From sese.001 till sese.008 sese.011 sese.002 sese.004 sese.006 sese.008 sese.014 (ISO CR 00568) Replace the existing Securities Sub Balance Type block by two new message blocks. To be able to provide a dedicated securities sub-balance type for both sides of the transaction. CR No (ISO CR 0703). Add optional elements to support SLT process and align the funds transfer message elements. To support the single-leg transfer (SLT) process and to make the funds transfer messages set more consistent. CR No (ISO CR 0088, 0549) Delete Cancel By Details, Reversal By Details and align the message structure. To enforce compliance with the agreed concept of cancel by reference recommended by the SMPG IF WG and to align with a similar concept in the settlement and reconciliation ISO messages. sese.001 From sese.003 till sese.008 sese.012 sese.013 From sese.001 till sese.012 sese.018 sese.019 From sese.001 till sese.014 sese.018 sese.019 sese.023 sese.024 sese.025 sese.026 sese.028 sese.032 sese.038 CR No (ISO CR 0577, 0534). Modify the data type of Bloomberg & ISIN Identifiers. To increase the schema validation of the Bloomberg and ISIN identifiers and align the identification of financial instruction identification with the ISO funds order (setr) messages. CR No Add optional element for Legal Entity Identification (LEI). To enable the identification of parties with an LEI, which allows users to conform to trade reporting requirements and make the messages compliant with other ISO messages. CR No Replace the SWIFT URN with the ISO URN in the XML schema (xsd) files. Replace ISO XML 1.0 (2004) with 1.5 (2013). To make the messages compliant with ISO and to identify that the messages on the SWIFT Network are ISO approved. 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. 24 November

27 sese.024 sese.032 sese.034 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. sese.024 sese.032 sese.034 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. sese.023 sese.025 sese.026 sese.032 sese.033 sese.035 sese.038 CR No Add a research fee qualifier to field 19A. To comply with MiFID II, which requires more transparency on research fees. The group decided to implement qualifier RSCH (aligned with FIX and Omgeo) and not RFEE as initially requested. sese.037 CR No (ISO CR 00686) Include the status functionality, present in the ISO message, into the ISO equivalent message. To comply with the evolution of the market practice. From sese.001 till sese.014 sese.018 sese.019 CR No Minor editorial improvements. To improve the readability, consistency and clarity of the message documentation. 24 November

28 6.16 Securities Trade (setr) There are no changes scheduled for implementation in SR Trade Services Management (tsmt) There are no changes scheduled for implementation in SR Treasury (trea) There are no changes scheduled for implementation in SR November

29 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, 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. 24 November