global: 2017 swift standards release · 3/2/2017 · mt540 na na mt541 na na mt542 na na mt543 na...

Global: 2017 SWIFT Standards Release

CITI Requirement

No

SWIFT

Messages

Effected

Mandatory /

Optional /

Definition Change

Message Sequence Nature of Change Client Impact Message Sample (Future State) Message Sample (Current State)

Funds / Trade Initiation and Confirmation

MT502 Definition ChangeB3

FIA

MT509 NA NA

MT513 Definition ChangeC3

FIA

MT515 Definition ChangeC2

FIA

MT502 Definition ChangeC

SETDET

MT509 NA NA

MT513 Definition ChangeD

SETDET


SETDET

Settlements

MT508 NA NA


FIA


FIA


FIA


FIA


FIA


FIA


FIA


FIA

MT548 NA NA


FIA

`

SWIFT Change Request ID: CR 001126

Overview

Modify definition of qualifier INTR in field 92a.

To be able to use INTR as the basis of calculation of the actual interest rate

for all types of bonds (fixed or variable rates).

Requirement

This is a change of definition and does not impact the message structure.

Change in definition of the Interest Rate qualifier :92A::INTR

INTR Interest Rate

Annualised Annual interest rate of a financial instrument used to calculate the

actual interest rate of the coupon or the accrued interest.

FOR INFORMATION ONLY, DEFINITION CHANGE AND NO

DEVELOPMENT REQUIREDNA as No Change NA as No Change

Req 1.1


Overview

Modify the definitions of codes CALL and ROLP used with qualifier REPT in

field 22F.

To remove ambiguity in the interpretation of codes CALL and ROLP.


Requirements

Change in definition of the Repo Call Repurchase Type Indicator code

:22F::REPT//CALL

CALL Repo Call

Relates to the a change in early closing / or maturity date for a term repo or

the termination providing of the date of for an open repo with underlying

collateral.

Change in definition of the Repo Contract Rollover Repurchase Type Indicator

code :22F::REPT//ROLP

ROLP Repo Contract Rollover

Relates to a repo rollover of a contract position extending the closing or

maturity date without impacting underlying collateral.



Req 2.0


Overview




Requirement



INTR Interest Rate





of 36


CITI Requirement

No

SWIFT

Messages

Effected

Mandatory /

Optional /

Definition Change


MT508 NA NA

MT540 Definition ChangeA1

LINK


LINK


LINK


LINK


LINK


LINK


LINK


LINK


LINK

MT578 NA NA

MT508 NA NA

MT540 Definition ChangeE

SETDET


SETDET


SETDET


SETDET


SETDET


SETDET


SETDET


SETDET

MT548 Definition ChangeB

SETTRAN

MT578 NA NA

MT508 NA NA

MT540 NA NA

MT541 NA NA

MT542 NA NA

MT543 NA NA

MT544 OptionalE

SETDET

MT545 NA NA

MT546 OptionalE

SETDET

MT547 NA NA

MT548 NA NA

MT578 NA NA

Req 2.1


Overview

Modify the definitions of qualifiers TRCI and TCTR in Settlement and

Reconciliation messages.

To align with the definitions with those used in Triparty Collateral

Management messages.

Requirement


Change in definition of the Triparty-Agent’s/Service-Providers Collateral

Instruction Reference qualifier :20C::TRCI

TRCI Triparty-Agent’s/Service-Provider’s Triparty’s Collateral Instruction

Reference

Reference assigned to the instruction by the triparty-agent/service-provider.


Transaction Reference qualifier :20C::TCTR

TCTR Triparty-Agent's/Service-Provider’s Triparty Agent Collateral

Transaction Reference

Unique reference identifying the triparty-agent/service-provider collateral

management transaction from the triparty-agent’s/service-provider’s point of

view.



Req 2.2


Overview


field 22F.


Requirement



:22F::REPT//CALL

CALL Repo Call

Relates to the a change in early closing/ or maturity date for a term repo or


collateral.








Req 2.3


Overview

Add code SPST for a split settlement to qualifier STCO, in field 22F of

sequence E.

In the Securities cash split market practice, the MT 544 and MT 546 must be

sent to confirm the settlement of the Securities side. However this specific

SPST code does not exist for STCO.

Requirement

Addition of the Split Settlement code to the free of payment settlement

confirmation messages in field Settlement Transaction Condition Indicator

:22F::STCO//SPST to be used where applicable.

SPST Split Settlement

Money and financial instruments settle in different locations.

CITI DO NOT CURRENTLY SUPPORT SPLIT SETTLEMENTS SO THIS

REQUIREMENT IS OUT OF SCOPE FOR SR2017NA as No Change NA as No Change

of 36


CITI Requirement

No

SWIFT

Messages

Effected

Mandatory /

Optional /

Definition Change


MT508 NA NA

MT540 NA NA

MT541 NA NA

MT542 NA NA

MT543 NA NA

MT544 NA NA

MT545 NA NA

MT546 NA NA

MT547 NA NA

MT548 OptionalA2a

REAS

MT578 NA NA


INPOSDET

MT540 NA NA

MT541 NA NA

MT542 NA NA

MT543 NA NA

MT544 NA NA

MT545 NA NA

MT546 NA NA

MT547 NA NA

MT548 NA NA

MT578 NA NA

Req 2.4


Overview

Add a rejection reason code INVM to qualifier REJT in field 24B.

Code INVM was added to the ISO 20022 message sese.031 in SR2012. The

ISO change request also stated "All the accepted codes will be included in

MT 548", however, code INVM was not implemented in MT 548.

Requirement

Addition of the Invalid Modification Request reason code to the Rejection

Reason field (:24B::REJT//INVM) as part of the Modification Request

Rejection (:25D::TPRC//REJT) status’ in the settlement status advice

message

INVM Invalid Modification Request

Invalid or unrecognized modification request.

This change is optional for the outbound MT548 message and will be used

where applicable

MT548

:16R:GENL

:20C::SEME//56012345601

:23G:NEWM

:98C::PREP//20170124000230

:16R:LINK

:13A::LINK//541

:20C::RELA//1234567890

:16S:LINK

:16R:STAT

:25D::TPRC//REJT

:16R:REAS

:24B::REJT//INVM

:16S:REAS

:16S:STAT

:16S:GENL

:16R:SETTRAN

:35B:ISIN GB0123456789

ABC COMPANY LTD

:36B::SETT//UNIT/1000,

:19A::SETT//EUR10000,00

:97A::SAFE//600000000

:22F::SETR//TRAD

:22H::REDE//RECE

:22H::PAYM//APMT

:98A::SETT//20170125

:98A::TRAD//20170123

:16R:SETPRTY

:95P::PSET//CSDAXX22

:16S:SETPRTY

:16R:SETPRTY

:95P::DEAG//CUSTXX22

:16S:SETPRTY

:16R:SETPRTY

:95P::SELL//BENEYY22

:97A::SAFE//1234

:16S:SETPRTY

:16S:SETTRAN

–

NA as it’s a new code

Req 2.5


Overview

Modify definitions of codes DRAW, PCAL and PRED used with qualifier

CAEV, in field 22F.

To clarify the scope and usage of partial redemption events.

Requirement


Change in definition of the Drawing Corporate Action Event Type code

:22F::CAEV//DRAW

DRAW Drawing

Securities Redemption are redeemed in part before the scheduled final

maturity date. of a security It is done without any pool factor reduction. The

redemption is reflected in a debit of the face amount (FAMT). Drawing is

distinct from partial call since drawn bonds are chosen by lottery. and with no

reduction in nominal value Therefore, not every holder is affected in the same

way.

Change in definition of the Partial Redemption Without Pool Factor Reduction

Corporate Action Event Type code :22F::CAEV//PCAL

PCAL Partial Redemption Without Pool Factor Reduction

Securities are redeemed in part before their scheduled final maturity date.

with reduction of the nominal value of the securities. The outstanding amount

of securities will be reduced proportionally It is done without any pool factor

reduction. The redemption is reflected in a debit of the face amount (FAMT).

Change in definition of the Partial Redemption With Pool Factor Reduction

Corporate Action Event Type code :22F::CAEV//PRED

PRED Partial Redemption With Pool Factor Reduction


without reduction of the nominal value of the securities. This is commonly

done by The redemption is reflected in a pool factor reduction. No movement

of securities occurs.



of 36


CITI Requirement

No

SWIFT

Messages

Effected

Mandatory /

Optional /

Definition Change



INPOSDET

MT540 NA NA

MT541 NA NA

MT542 NA NA

MT543 NA NA

MT544 NA NA

MT545 NA NA

MT546 NA NA

MT547 NA NA

MT548 NA NA

MT578 NA NA

MT508 NA NA

MT540 OptionalE

SETDET

MT541 OptionalE

SETDET

MT542 NA NA

MT543 NA NA

MT544 OptionalE

SETDET

MT545 NA NA

MT546 NA NA

MT547 NA NA

MT548 OptionalB

SETTRAN

MT578 OptionalE

SETDET

Req 2.6


Overview

Modify definition of code EXTM used with qualifier CAEV in field 22F.

To extend the scope of the EXTM event to be used for all securities and not

only for bonds.

Requirement


Change in definition of the Maturity Extension Corporate Action Event Type

code :22F::CAEV//EXTM

EXTM Maturity Extension

As stipulated in the a bond security’s Terms and Conditions, the issuer or the

holder bond- may prolong the maturity date of a security bond. After

extension, the security details may differ from the original issue.(new rate or

maturity date). May An issuer initiated extension may be subject to holder

bondholder’s approval.



Req 2.7


Overview

(ISO 20022 CR 0609) Add the transaction code BIYI (Buy In) to code sets.

Also applies to ISO 15022 for coexistence purposes

To ensure that the code is applied, in a consistent manner, to the ISO 20022

code sets for Securities Transaction Type Code (and ISO 15022 where it

doesn’t currently exist)

Requirement

Addition of the Buy In code to in the Settlement Transaction Type Indicator

field :22F::SETR//BYIY

BYIY Buy In

The transaction relates to a buy-in by the market following a delivery

transaction failure.

The code BYIY already existed in the MT545 which is why it’s not being

added there

This change is optional for messages and will be used where applicable

MT541

:16R:GENL

:20C::SEME//ABC12345

:23G:NEWM

:16S:GENL

:16R:TRADDET

:98A::SETT//20170125

:98A::TRAD//20170123

:35B:ISIN GB0123456789

ABC COMPANY LTD

:16S:TRADDET

:16R:FIAC


:97A::SAFE//600000000

:16S:FIAC

:16R:SETDET

:22F::SETR//BYIY

:16R:SETPRTY


:16S:SETPRTY

:16R:SETPRTY


:16S:SETPRTY

:16R:SETPRTY

:95P::SELL//BENEYY22

:97A::SAFE//1234

:16S:SETPRTY

:16R:AMT

:19A::SETT//EUR10000,00

:16S:AMT

:16S:SETDET

–


of 36


CITI Requirement

No

SWIFT

Messages

Effected

Mandatory /

Optional /

Definition Change


MT508 NA NA

MT540 NA NA

MT541 NA NA

MT542 NA NA

MT543 NA NA

MT544 NA NA

MT545 NA NA

MT546 NA NA

MT547 NA NA

MT548 NA NA

MT578 OptionalE

SETDET

Reconciliation

MT535 Definition ChangeB1a

FIA

MT536 NA NA

MT537 NA NA


FIA


FIA

Req 2.8


Overview

(ISO 20022 CR0610) Enrich Securities Transaction Type element in ISO

20022 messages


To allow the different market participants to use the transaction codes

consistently across the different messages, which can be especially

important for cross border transactions.

Requirement

Addition of Settlement Transacton Type codes to the Settlement Allegement

message in the Settlement Transaction Type Indicator field :22F::SETR//xxxx

CONV DR Conversion

Relates to a depository receipt conversion.

ISSU Issuance

Relates to the issuance of a security such as an equity or a depository

receipt.

MKDW Mark-Down

Relates to the decrease of positions held by an ICSD at the common

depository due to custody operations (repurchase, pre-release, proceed of

corp. event realigned).

MKUP Mark-Up

Relates to the increase of positions held by an ICSD at the common


corporate event realigned).

NSYN Non Syndicated

Relates to the issue of medium and short term paper (CP, CD, MTN, notes

...) under a program and without syndication arrangement.

REDI Withdrawal

Relates to the withdrawal of specified amounts from specified sub-accounts

RELE DR Release/Cancellation

Relates to a release (into/from local) of Depository Receipt operation.

SBBK Sell Buy Back

Relates to a sell buy back transaction.

SYND Syndicate of Underwriters

Relates to the issue of financial instruments through a syndicate of

underwriters and a Lead Manager.

This change is optional for the MT578 Allegement message and will be used

where applicable where clients have elected to receive this message from Citi

MT578

:16R:GENL

:20C::SEME//5600000000

:23G:NEWM

:98C::PREP//20170123032801

:16R:LINK

:13A::LINK//578

:20C::RELA//ABC1234567

:16S:LINK

:16S:GENL

:16R:TRADDET

:98A::SETT//20170125

:98A::TRAD//20170123

:35B:ISIN GB0123456789

ABC COMPANY LTD

:22H::PAYM//APMT

:22H::REDE//DELI

:16S:TRADDET

:16R:FIAC


:97A::SAFE//600000000

:16S:FIAC

:16R:SETDET

:22F::SETR//MKDW

:16R:SETPRTY


:16S:SETPRTY

:16R:SETPRTY

:95P::BUYR//BENEYY22

:16S:SETPRTY

:16R:SETPRTY


:16S:SETPRTY

:16R:AMT

:19A::SETT//EUR10000,00

:16S:AMT

:16S:SETDET

-

NA as it’s new codes

Req 3.0


Overview




Requirement



INTR Interest Rate





of 36


CITI Requirement

No

SWIFT

Messages

Effected

Mandatory /

Optional /

Definition Change


MT535 NA NA

MT536B1a1

LINK

MT537B2a and C1

LINK

MT538 NA NA

MT586 NA NA

MT535 NA NA

MT536B1a2

TRANSDET

MT537B2b and C2

TRANSDET

MT538 NA NA

MT586 NA NA

MT535 NA NA

MT536 NA NA

MT537 NA NA

MT538 NA NA

MT586 OptionalA

GENL

Req 3.1


Overview

Modify the definitions of qualifiers TRCI and TCTR in Settlement and

Reconciliation messages.

To align with the definitions with those used in Triparty Collateral

Management messages.

Requirement



Instruction Reference qualifier :20C::TRCI

TRCI Triparty-Agent’s/Service-Provider’s Triparty’s Collateral Instruction

Reference

Reference assigned to the instruction by the triparty-agent/service-provider.


Transaction Reference qualifier :20C::TCTR

TCTR Triparty-Agent's/Service-Provider's Triparty Agent Collateral

Transaction Reference

Unique reference identifying the triparty-agent/service-provider collateral

management transaction from the triparty-agent's/service-provider's point of

view.



Req 3.2


Overview


field 22F.


Requirement



:22F::REPT//CALL

CALL Repo Call

Relates to the a change in early closing/ or maturity date for a term repo or


collateral.








Req 3.3


Overview

Add letter option "Q" to Account Owner Party fields

To allow for lengthy party names that are being truncated in the present

format options, for example, the surname is dropped

Network validated rule added to enforce the use of letter option Q only for

portfolio transfers.

Requirement

THIS REQUIREMENT IS OUT OF SCOPE FOR SR2017 AND WILL NOT

BE IMPLEMENTED BY CITI

OUT OF SCOPE NA as No Change NA as No Change

of 36


CITI Requirement

No

SWIFT

Messages

Effected

Mandatory /

Optional /

Definition Change


MT535 NA NA

MT536 NA NA

MT537 NA NA

MT538 NA NA

MT586 OptionalA

GENL

MT535 NA NA

MT536 Definition ChangeB1a2

TRANSDET

MT537 Definition ChangeB2b and C2

TRANSDET


INPOS

MT586 NA NA

Req 3.4


Overview

Add a new qualifier RMDR, reminder code, to field 23G to identify the function

of the message.

If the sender does not receive any answer from the receiving party then this

code will be used in a subsequent message to identify it as a reminder.

Network validated rule added to enforce the use subfunction code PORT for

portfolio transfers.

Optional and used only for portfolio transfers.

Requirement

THIS REQUIREMENT IS OUT OF SCOPE FOR SR2017 AND WILL NOT

BE IMPLEMENTED BY CITI

OUT OF SCOPE NA as No Change NA as No Change

Req 3.5


Overview


CAEV, in field 22F.


Requirement



:22F::CAEV//DRAW

DRAW Drawing






way.

















of 36


CITI Requirement

No

SWIFT

Messages

Effected

Mandatory /

Optional /

Definition Change


MT535 NA NA

MT536 Definition ChangeB1a2

TRANSDET

MT537 Definition ChangeB2b and C2

TRANSDET


INPOS

MT586 NA NA

MT535 NA NA

MT536 NA NA

MT537 NA NA

MT538 NA NA

MT586 OptionalB5

SETDET

Req 3.6


Overview



only for bonds.

Requirement












Req 3.7


Overview

(ISO 20022 CR 0609) Add the transaction code BIYI (Buy In) to code sets.


To ensure that the code is applied, in a consistent manner, to the ISO 20022

code sets for Securities Transaction Type Code (and ISO 15022 where it

doesn’t currently exist)

Requirement

Addition of the Buy In code to in the Settlement Transaction Type Indicator

field :22F::SETR//BYIY

BYIY Buy In

The transaction relates to a buy-in by the market following a delivery

transaction failure.

This change is optional for the MT586 Statement of Allegements message and

will be used where applicable where clients have elected to receive this

message from Citi

MT586

:16R:GENL

:28E:1/MORE

:20C::SEME//7018011234567890

:23G:NEWM

:98C::PREP//20170118014853

:98A::STAT//20170118

:22F::SFRE//DAIL

:22F::CODE//COMP

:97A::SAFE//600000000

:17B::ACTI//Y

:16S:GENL

:16R:ALLDET

:16R:LINK

:13A::LINK//578

:20C::PREV//ABC12345

:16S:LINK

:16R:LINK

:20C::RELA//1234567890

:16S:LINK

:98A::SETT//20161229

:98A::TRAD//20161227

:35B:ISIN GB0123456789

ABC COMPANY LTD

:22H::PAYM//FREE

:22H::REDE//DELI

:16R:FIAC


:16S:FIAC

:16R:SETDET

:22F::SETR//BYIY

:16R:SETPRTY


:16S:SETPRTY

:16S:SETDET

:16S:ALLDET


of 36


CITI Requirement

No

SWIFT

Messages

Effected

Mandatory /

Optional /

Definition Change


MT535 NA NA

MT536 NA NA

MT537 NA NA

MT538 NA NA

MT586 OptionalB5

SETDET

Req 3.8


Overview

(ISO 20022 CR0610) Enrich Securities Transaction Type element in ISO

20022 messages


To allow the different market participants to use the transaction codes

consistently across the different messages, which can be especially

important for cross border transactions.

Requirement

Addition of Settlement Transacton Type codes to the Settlement Allegement

Statement message in the Settlement Transaction Type Indicator field

:22F::SETR//xxxx

CONV DR Conversion

Relates to a depository receipt conversion.

ISSU Issuance

Relates to the issuance of a security such as an equity or a depository

receipt.

MKDW Mark-Down

Relates to the decrease of positions held by an ICSD at the common


corp. event realigned).

MKUP Mark-Up

Relates to the increase of positions held by an ICSD at the common


corporate event realigned).

NSYN Non Syndicated

Relates to the issue of medium and short term paper (CP, CD, MTN, notes

...) under a program and without syndication arrangement.

REDI Withdrawal

Relates to the withdrawal of specified amounts from specified sub-accounts

RELE DR Release/Cancellation

Relates to a release (into/from local) of Depository Receipt operation.

SBBK Sell Buy Back

Relates to a sell buy back transaction.

SYND Syndicate of Underwriters

Relates to the issue of financial instruments through a syndicate of

underwriters and a Lead Manager.

This change is optional for the MT586 Statement of Allegements message and

will be used where applicable where clients have elected to receive this

message from Citi

MT586

:16R:GENL

:28E:1/MORE

:20C::SEME//7018011234567890

:23G:NEWM

:98C::PREP//20170118014853

:98A::STAT//20170118

:22F::SFRE//DAIL

:22F::CODE//COMP

:97A::SAFE//600000000

:17B::ACTI//Y

:16S:GENL

:16R:ALLDET

:16R:LINK

:13A::LINK//578

:20C::PREV//ABC12345

:16S:LINK

:16R:LINK

:20C::RELA//1234567890

:16S:LINK

:98A::SETT//20161229

:98A::TRAD//20161227

:35B:ISIN GB0123456789

ABC COMPANY LTD

:22H::PAYM//FREE

:22H::REDE//DELI

:16R:FIAC


:16S:FIAC

:16R:SETDET

:22F::SETR//CONV

:16R:SETPRTY


:16S:SETPRTY

:16S:SETDET

:16S:ALLDET


of 36


CITI Requirement

No

SWIFT

Messages

Effected

Mandatory /

Optional /

Definition Change


Corporate Actions

MT564 Definition ChangeA

GENL


GENL


GENL


GENL


GENL


GENL


GENL


GENL


GENL


GENL

Req 4.0


Overview


CAEV, in field 22F.


Requirement



:22F::CAEV//DRAW

DRAW Drawing






way.

















Req 4.1


Overview



only for bonds.

Requirement












of 36


CITI Requirement

No

SWIFT

Messages

Effected

Mandatory /

Optional /

Definition Change


MT564 Definition Change

B1

FIA

D

CADETL


FIA


B1

FIA

C

CADETL

D1a

FIA

MT567 NA NA


FIA

Req 4.2


Overview




Requirement



INTR Interest Rate





of 36


CITI Requirement

No

SWIFT

Messages

Effected

Mandatory /

Optional /

Definition Change


MT564 Mandatory

E

CAOPTN

E2

CASHMOVE

MT565 NA NA

MT566 Mandatory

D

CACONF

D2

CASHMOVE

MT567 NA NA

MT568 NA NA

Req 4.3


Overview

Delete qualifier FLFR from field 92a in sequence E2 of MT 564 and from

sequence D2 of MT 566.

To remove the redundancy between qualifier FLFR and the rate type code

FLFR used in qualifier GRSS.

Redefine the FLFR rate type code to align with the definition of the “to be

deleted” FLFR rate qualifier.

Requirement

Low impact on users’ business applications given very low use of the

qualifier.

Deletion of Fully Franked Rate qualifier :92a::FLFR

FLFR Fully Franked Rate

Rate resulting from a fully franked dividend paid by a company; rate includes

tax credit for companies that have made sufficient tax payments during fiscal

period.

Any use of the 92a FLFR rate qualifier will be replaced by the use of the

FLFR Rate Type Code in the :92J::GRSS and :92J::NETT rate fields.

Updates in definitions or Rate Type Code FLFR to reflect the use and

alignment with the previous definition of the FLFR rate qualifier

FLFR Fully Franked

Fully franked Rate resulting from a fully franked dividend paid by a company;

rate includes tax credit for companies that have made sufficient tax payments

during fiscal period.

Any use of field :92a::FLFR with format options 92A, 92F or 92K will be

removed and replaced with the Fully Franked Rate Type Code in the

:92J::GRSS and :92J::NETT fields

MT564

:16R:GENL

:20C::CORP//CORP12345

:20C::SEME//987654321B

:23G:REPE

:22F::CAEV//DRIP

:22F::CAMV//CHOS

:98C::PREP//20160213200908

:25D::PROC//COMP

:16R:LINK

:13A::LINK//564

:20C::PREV//987654321A

:16S:LINK

:16S:GENL

:16R:USECU

:35B:ISIN AU000000AB01

AUSTRALIA COMPANY A LTD

:16R:FIA

:94B::PLIS//EXCH/XASX

:16S:FIA

:16R:ACCTINFO

:97A::SAFE//1234567890

:94F::SAFE//CUST/ACLRAU2S

:93B::ELIG//UNIT/542330,

:16S:ACCTINFO

:16S:USECU

:16R:CADETL

:98A::RDTE//20161230

:98A::XDTE//20161222

:16S:CADETL

:16R:CAOPTN

:13A::CAON//001

:22F::CAOP//CASH

:11A::OPTN//AUD

:17B::DFLT//Y

:98C::RDDT//20161230090000

:16R:CASHMOVE

:22H::CRDB//CRED

:97A::CASH//00001234567

:19B::GRSS//AUD78637,85

:19B::INTR//AUD33787,15

:19B::FLFR//AUD18981,55

:19B::SOIC//AUD25869,14

:19B::ENTL//AUD78637,85

:98A::PAYD//20170214

:92F::GRSS//AUD0,145

:92J::GRSS//FLFR/AUD0,035

:16S:CASHMOVE

:16S:CAOPTN

:16R:CAOPTN

:13A::CAON//002

:22F::CAOP//SECU

:22F::DISF//RDDN

:17B::DFLT//N

:98C::RDDT//20161230090000

:16R:SECMOVE

:22H::CRDB//CRED



STAPLED UNITS NPV

:36B::ENTL//UNIT/14169,

:92D::ADEX//0,02612659687/1,

:98A::PAYD//20170214

:16S:SECMOVE

:16R:CASHMOVE

:22H::CRDB//CRED

:98A::PAYD//20170214

:92A::FISC//0,


:90B::PRPP//ACTU/AUD5,5499

:16S:CASHMOVE

:16S:CAOPTN

MT564

:16R:GENL

:20C::CORP//CORP12345

:20C::SEME//987654321B

:23G:REPE

:22F::CAEV//DRIP

:22F::CAMV//CHOS

:98C::PREP//20160213200908

:25D::PROC//COMP

:16R:LINK

:13A::LINK//564

:20C::PREV//987654321A

:16S:LINK

:16S:GENL

:16R:USECU



:16R:FIA


:16S:FIA

:16R:ACCTINFO

:97A::SAFE//1234567890


:93B::ELIG//UNIT/542330,

:16S:ACCTINFO

:16S:USECU

:16R:CADETL

:98A::RDTE//20161230

:98A::XDTE//20161222

:16S:CADETL

:16R:CAOPTN

:13A::CAON//001

:22F::CAOP//CASH

:11A::OPTN//AUD

:17B::DFLT//Y

:98C::RDDT//20161230090000

:16R:CASHMOVE

:22H::CRDB//CRED

:97A::CASH//00001234567

:19B::GRSS//AUD78637,85

:19B::INTR//AUD33787,15

:19B::FLFR//AUD18981,55

:19B::SOIC//AUD25869,14

:19B::ENTL//AUD78637,85

:98A::PAYD//20170214


:92F::FLFR//AUD0,035

:16S:CASHMOVE

:16S:CAOPTN

:16R:CAOPTN

:13A::CAON//002

:22F::CAOP//SECU

:22F::DISF//RDDN

:17B::DFLT//N

:98C::RDDT//20161230090000

:16R:SECMOVE

:22H::CRDB//CRED



STAPLED UNITS NPV

:36B::ENTL//UNIT/14169,

:92D::ADEX//0,02612659687/1,

:98A::PAYD//20170214

:16S:SECMOVE

:16R:CASHMOVE

:22H::CRDB//CRED

:98A::PAYD//20170214

:92A::FISC//0,


:90B::PRPP//ACTU/AUD5,5499

:16S:CASHMOVE

:16S:CAOPTN

of 36


CITI Requirement

No

SWIFT

Messages

Effected

Mandatory /

Optional /

Definition Change



E1

SECMOVE

E2

CASHMOVE

MT565 NA NA


D1

SECMOVE

D2

CASHMOVE

MT567 NA NA

MT568 NA NA


CAOPTN

MT565 NA NA


CACONF

MT567 NA NA

MT568 NA NA

Req 4.4


Overview

Add code TXBL to qualifier TAXP in field 22F, in sequences E1 and E2 of MT

564 and in sequences D1 and D2 of MT 566.

To reinstate the code deleted erroneously in SR 2016.

Implementation of this new code value is mandatory for inbound and

outbound messages when allowed by market practice or service level

agreement (SLA) between the sender and the receiver.

Requirement

Addition of the Taxable code TXBL to the Issuer / Offeror Taxability Indicator

qualifier :22F::TXAP, ie :22F::TXAP//TXBL

TXBL Taxable

The securities proceeds are taxable.

As part of the format change from 22H to 22F in SR2016 to allow for the use

of a Data Source Scheme and tax codes in the field, code TXBL was

inadvertently left out of the SWIFT User Handbook. The code could still be

used but wasn’t documented. This change request adds the code back in but

there should be no impact on what is allowed already

Update in definition to the CODES usage for Issuer / Offeror Taxability

Indicator field :22F::TXAP

If Qualifier is TXAP and , Data Source Scheme is must be used present, for

example, IRSX in the United States, . The then the lists of Issuer/Offeror

Taxability codes that to may be used in Indicator are provided in the

document titled "TXAP Taxability Codes" that is available on the SMPG

website at www.smpg.info.

FOR INFORMATION ONLY, THE TXBL CODE COULD STILL BE USED

EVEN THOUGH IT WASN’T PRESENT IN THE SWIFT USER HANDBOOKNA as No Change NA as No Change

Req 4.5


Overview

Modify the definition of qualifier PROR in field 92a, in sequence E of MT 564

and in sequence D of MT 566.

To clarify the use of the PROR rate.

Requirement


Change in definition of the Pro-Ration Rate qualifier :92A::PROR

PROR Pro-Ration Rate

Percentage Proportionate allocation used for the offer of securities accepted

by the offeror/issuer.



of 36


CITI Requirement

No

SWIFT

Messages

Effected

Mandatory /

Optional /

Definition Change


MT564 OptionalE

CAOPTN

MT565 NA NA

MT566 NA NA

MT567 NA NA

Req 4.6


Overview

Add code QCAS to qualifier OPTF, in field 22F, in sequence E of MT 564.

Add new optional, non-repetitive amount field 19B with a new non-repetitive

qualifier QCAS to sequence D of MT 565.

In sequence D of MT 565, change the presence of field 36a to optional and

create a new network validation rule to mandate the presence of either field

36a or field 19B.

Amend the definition of code DQUA used with qualifiers PEND, REJT and

CANP in field 24B, in sequence A2a of MT 567.

To be able to process instructions with quantity expressed as a cash amount.

In addition to the changes to the MT 564 and MT 565, in the MT 567, an

additional reason code DQCS is created for the PEND, REJT, and CANP

status and two new reason codes DQCC and DQAM are created for the

REJT status.

Requirement

Addition of the new Instruct Cash Amount QCAS code to the Options Feature

Indicator qualifier :22F::OPTF, ie :22F::OPTF//QCAS

QCAS Instruct Cash Amount

Feature whereby the holder should only instruct a cash amount.

If this new code is present on the outbound messages from Citi, clients can

elect using a cash amount. This should either be done via the existing process

or through the new features in the MT565 for instructing cash amounts as

outlined in requirement 4.7

New SMPG Guidelines

5.6 Instructing in Cash Amount

In the UK and IE (and Australia and New Zealand), there are subscription

offers (also called “share purchase plan” in Australia) where the account owner

needs to indicate to the account servicer the amount of cash they intend to

subscribe for.

The following market practice must be followed to be able to instruct in cash

amount:

In the MT564, the new code QCAS (Instruct Cash Amount) has been created

in Sequence E in the :22F::OPTF Option Features Qualifier. This code must

only be used when instructions in cash are required.

In the MT565, in Sequence D, a new optional non repetitive field 19B with a non-

repetitive QCAS (Cash Amount to be instructed) amount qualifier has been

created.

Within Sequence D, if the quantity of securities instructed (field :36a::QINS) is

present to show the amount of securities to which the instruction applies, then

the Instructed Amount field :19B::QCAS is not allowed and conversely.

In the MT567, a number of new reason codes have been added to allow for

rejection of cash instructions. In Sequence A2a in field :24B: Reason Code, a

new code value DQCS (Disagreement on Cash Amount) has been added to be

used with the PEND, REJT and CANP qualifiers and new reason code values

DQCC (Currency Rejection), DQCS (Amount Rejection) and DQAM

(Instruction Type Rejection) has been added to be used with the REJT

qualifiers.

MT564

:16R:GENL

:20C::CORP//39701234567

:20C::SEME//39701234567/001

:23G:NEWM

:22F::CAEV//PRIO

:22F::CAMV//VOLU

:98C::PREP//20170123120555

:25D::PROC//ENTL

:16S:GENL

:16R:USECU

:35B:ISIN AU000000LCD0

LATITUDE CONSOLIDATED LIMITED

ORDINARY SHARES

:16R:FIA


:16S:FIA

:16R:ACCTINFO

:97A::SAFE//600000000


:93B::ELIG//UNIT/1,

:16S:ACCTINFO

:16S:USECU

:16R:CADETL

:98A::RDTE//20170120

:22F::ADDB//CAPA

:16S:CADETL

:16R:CAOPTN

:13A::CAON//001

:22F::CAOP//NOAC

:17B::DFLT//Y

:98C::RDDT//20170224120000

:69J::PWAL//UKWN

:16S:CAOPTN

:16R:CAOPTN

:13A::CAON//002

:22F::CAOP//SECU

:22F::OPTF//QCAS

:17B::DFLT//N

:98C::RDDT//20170224120000

:69J::PWAL//UKWN

:16R:SECMOVE

:22H::CRDB//CRED



ORDINARY SHARES

:90E::PRPP//UKWN

:98A::PAYD//20170224

:98A::AVAL//20170301

:16S:SECMOVE

:16S:CAOPTN

:16R:ADDINFO

:70E::TXNR//DEPO-103/NOM-000100

:70E::ADTX//23/01/17. SHARE PURCHASE PLAN (SPP)

WHEREBY ELIGIBLE SHAREHOLDERS HAVE

THE OPPORTUNITY TO PURCHASE UP TO A

MAXIMUM OF AUD15,000 WORTH OF

SHARES. NEW SHARES RANK PARI PASSU

WITH EXISTING SHARES.

:70E::ADTX//THE ISSUE PRICE WILL BE AT A

DISCOUNT OF 20PCT TO THE VOLUME

WEIGHTED AVERAGE PRICE (VWAP) OVER

5 BUSINESS DAYS UP TO THE ISSUE

DATE OF THE NEW SHARES. THE COMPANY

IS SEEKING TO RAISE APPROXIMATELY

AUD850,000 AS PART OF THIS

OFFER.ELIGIBLE HOLDERS MAY APPLY

FOR ONE OF THE FOLLOWING OPTIONS:

(A) AUD 500. (B) AUD 1,000.

:70E::ADTX//(C) AUD 2,500. (D) AUD 5,000. (E)

AUD 7,500. (F) AUD 10,000. (G) AUD

12,500. OR (H) AUD 15,000. AS PER

THE CITI SERVICEWATCH AUSTSW00609,

WE ARE ABLE TO

:70E::ADTX//EXTEND THIS OFFER, TO ELIGIBLE

HOLDERS, UNDER ASIC CLASS ORDER

(09/425) AND (10/105). SHAREHOLDERS

WHO WILL BE ELIGIBLE TO APPLY FOR

SHARES UNDER THE OFFER ARE THOSE

THAT ARE: (A). RECORDED ON THE

COMPANY’S REGISTER AS AT THE RECORD

DATE, AND (B) HAVE AN ADDRESS IN

AUSTRALIA OR NEW ZEALAND.

:70E::ADTX//THE COMPANY HAS ADVISED THAT ONLY

UNDERLYING BENEFICIAL HOLDERS WITH

A RESIDENTAL ADDRESS IN AUSTRALIA

OR NEW ZEALAND ARE ELIGIBLE TO

PARTICIPATE UNDER THE OFFER.

CLIENTS ACCEPTING THE OFFER MUST

ENSURE THAT THEIR ACCEPTANCE

COMPLIES WITH ALL APPLICABLE

FOREIGN LAWS.

:70E::ADTX//THE OFFER UNDER THE SPP NEEDS TO

COMPLY WITH THE LIMIT IN ASIC CLASS

ORDER (CO09/425). UNDER THE CLASS

ORDER,

:95P::MEOR//CITIAU3X

:16S:ADDINFO

of 36


CITI Requirement

No

SWIFT

Messages

Effected

Mandatory /

Optional /

Definition Change


MT568 NA NA

Req 4.6


Overview






36a or field 19B.







REJT status.

Requirement

Addition of the new Instruct Cash Amount QCAS code to the Options Feature

Indicator qualifier :22F::OPTF, ie :22F::OPTF//QCAS

QCAS Instruct Cash Amount

Feature whereby the holder should only instruct a cash amount.

If this new code is present on the outbound messages from Citi, clients can

elect using a cash amount. This should either be done via the existing process

or through the new features in the MT565 for instructing cash amounts as

outlined in requirement 4.7

New SMPG Guidelines

5.6 Instructing in Cash Amount

In the UK and IE (and Australia and New Zealand), there are subscription

offers (also called “share purchase plan” in Australia) where the account owner

needs to indicate to the account servicer the amount of cash they intend to

subscribe for.

The following market practice must be followed to be able to instruct in cash

amount:

In the MT564, the new code QCAS (Instruct Cash Amount) has been created

in Sequence E in the :22F::OPTF Option Features Qualifier. This code must

only be used when instructions in cash are required.

In the MT565, in Sequence D, a new optional non repetitive field 19B with a non-

repetitive QCAS (Cash Amount to be instructed) amount qualifier has been

created.

Within Sequence D, if the quantity of securities instructed (field :36a::QINS) is

present to show the amount of securities to which the instruction applies, then

the Instructed Amount field :19B::QCAS is not allowed and conversely.

In the MT567, a number of new reason codes have been added to allow for

rejection of cash instructions. In Sequence A2a in field :24B: Reason Code, a

new code value DQCS (Disagreement on Cash Amount) has been added to be

used with the PEND, REJT and CANP qualifiers and new reason code values

DQCC (Currency Rejection), DQCS (Amount Rejection) and DQAM

(Instruction Type Rejection) has been added to be used with the REJT

qualifiers.

MT564

:16R:GENL

:20C::CORP//39701234567

:20C::SEME//39701234567/001

:23G:NEWM

:22F::CAEV//PRIO

:22F::CAMV//VOLU

:98C::PREP//20170123120555

:25D::PROC//ENTL

:16S:GENL

:16R:USECU



ORDINARY SHARES

:16R:FIA


:16S:FIA

:16R:ACCTINFO

:97A::SAFE//600000000


:93B::ELIG//UNIT/1,

:16S:ACCTINFO

:16S:USECU

:16R:CADETL

:98A::RDTE//20170120

:22F::ADDB//CAPA

:16S:CADETL

:16R:CAOPTN

:13A::CAON//001

:22F::CAOP//NOAC

:17B::DFLT//Y

:98C::RDDT//20170224120000

:69J::PWAL//UKWN

:16S:CAOPTN

:16R:CAOPTN

:13A::CAON//002

:22F::CAOP//SECU

:22F::OPTF//QCAS

:17B::DFLT//N

:98C::RDDT//20170224120000

:69J::PWAL//UKWN

:16R:SECMOVE

:22H::CRDB//CRED



ORDINARY SHARES

:90E::PRPP//UKWN

:98A::PAYD//20170224

:98A::AVAL//20170301

:16S:SECMOVE

:16S:CAOPTN

:16R:ADDINFO

:70E::TXNR//DEPO-103/NOM-000100

:70E::ADTX//23/01/17. SHARE PURCHASE PLAN (SPP)

WHEREBY ELIGIBLE SHAREHOLDERS HAVE

THE OPPORTUNITY TO PURCHASE UP TO A

MAXIMUM OF AUD15,000 WORTH OF

SHARES. NEW SHARES RANK PARI PASSU

WITH EXISTING SHARES.

:70E::ADTX//THE ISSUE PRICE WILL BE AT A

DISCOUNT OF 20PCT TO THE VOLUME

WEIGHTED AVERAGE PRICE (VWAP) OVER

5 BUSINESS DAYS UP TO THE ISSUE

DATE OF THE NEW SHARES. THE COMPANY

IS SEEKING TO RAISE APPROXIMATELY

AUD850,000 AS PART OF THIS

OFFER.ELIGIBLE HOLDERS MAY APPLY

FOR ONE OF THE FOLLOWING OPTIONS:

(A) AUD 500. (B) AUD 1,000.

:70E::ADTX//(C) AUD 2,500. (D) AUD 5,000. (E)

AUD 7,500. (F) AUD 10,000. (G) AUD

12,500. OR (H) AUD 15,000. AS PER

THE CITI SERVICEWATCH AUSTSW00609,

WE ARE ABLE TO

:70E::ADTX//EXTEND THIS OFFER, TO ELIGIBLE

HOLDERS, UNDER ASIC CLASS ORDER

(09/425) AND (10/105). SHAREHOLDERS

WHO WILL BE ELIGIBLE TO APPLY FOR

SHARES UNDER THE OFFER ARE THOSE

THAT ARE: (A). RECORDED ON THE

COMPANY’S REGISTER AS AT THE RECORD

DATE, AND (B) HAVE AN ADDRESS IN

AUSTRALIA OR NEW ZEALAND.

:70E::ADTX//THE COMPANY HAS ADVISED THAT ONLY

UNDERLYING BENEFICIAL HOLDERS WITH

A RESIDENTAL ADDRESS IN AUSTRALIA

OR NEW ZEALAND ARE ELIGIBLE TO

PARTICIPATE UNDER THE OFFER.

CLIENTS ACCEPTING THE OFFER MUST

ENSURE THAT THEIR ACCEPTANCE

COMPLIES WITH ALL APPLICABLE

FOREIGN LAWS.

:70E::ADTX//THE OFFER UNDER THE SPP NEEDS TO

COMPLY WITH THE LIMIT IN ASIC CLASS

ORDER (CO09/425). UNDER THE CLASS

ORDER,

:95P::MEOR//CITIAU3X

:16S:ADDINFO

of 36


CITI Requirement

No

SWIFT

Messages

Effected

Mandatory /

Optional /

Definition Change


MT564 NA NA

MT565 OptionalD

CAINST

MT566 NA NA

MT567 NA NA

MT568 NA NA

Req 4.7


Overview






36a or field 19B.







REJT status.

Requirement

Change in the Mandatory / Optional nature of Quantity of Securities

Instructed field :36a::QINS from Mandatory to Optional. This makes the whole

36a Quantity of Financial Instrument field optional as both qualifiers QINS and

COND (Conditional Quantity) are now optional.

Addition of new Instructed Amount field 19B with qualifier QCAS, Instructed

Amount.

43. Field 19B: Amount: Instructed Amount

FORMAT

Option B :4!c//3!a15d (Qualifier)(Currency Code)(Amount)

PRESENCE

Conditional (see rule C5) in mandatory sequence D

QUALIFIER

(Error code(s): T89)

Order M/O Qualifier R/N CR Options Description

1 O QCAS N - B Instructed Amount

DEFINITION

This qualified generic field specifies:

QCAS Instructed Amount

Cash amount to be instructed.

NETWORK VALIDATED RULES

The integer part of Amount must contain at least one digit. A decimal comma

is mandatory and is included in the maximum length. The number of digits

following the comma must not exceed the maximum allowed for the specified

currency (Error code(s): C03,T40,T43).

Currency Code must be a valid ISO 4217 currency code (Error code(s): T52).

Addition of new Network Validation Rule C5

Definition

In sequence D, if field :36a::QINS is present, then field :19B::QCAS is not

allowed and if field :36a::QINS is not present, then field :19B::QCAS is

mandatory (Error code(s): E62).

Clients can elect using a cash amount where indicated by the new code being

present on the outbound MT564 messages from Citi as outlined in requirement

4.6

This field should be used when field :22F::OPTF//QCAS is present in the

MT564 to advise clients they should elect using a Cash Amount (see Network

Validation Rule C5 addition). However, for those clients who cannot move to

this new process, existing processes via free text should remain in place.

MT565

:16R:GENL

:20C::CORP//39701234567

:20C::SEME//9876543210

:23G:NEWM

:22F::CAEV//PRIO

:98A::PREP//20170130

:16S:GENL

:16R:USECU



ORDINARY SHARES

:16R:FIA

:11A::DENO//AUD

:16S:FIA

:16R:ACCTINFO

:97A::SAFE//600000000

:93B::ELIG//UNIT/1,

:16S:ACCTINFO

:16S:USECU

:16R:CAINST

:13A::CAON//002

:22F::CAOP//SECU

:19B::QCAS//AUD15000,00

:70E::INST//NARRATIVE

:16S:CAINST

of 36


CITI Requirement

No

SWIFT

Messages

Effected

Mandatory /

Optional /

Definition Change


MT564 NA NA

MT565 NA NA

MT566 NA NA

MT567 OptionalA2a

REAS

MT568 NA NA

Req 4.8


Overview






36a or field 19B.







REJT status.

Requirement

Addition of new Disagreement on Cash Amount code DQCS to the Pending

Reason qualifier :24B::PEND, ie :24B::PEND//DQCS

DQCS Disagreement on Cash Amount

Unrecognised or invalid instructed cash amount.

Addition of new Instruction Type Rejection code DQAM to the Rejection

Reason qualifier :24B::REJT, ie :24B::REJT//DQAM

DQAM Instruction Type Rejection

Invalid use of instructed amount (QCAS) or of instructed quantity (QINS)

qualifiers.

Addition of new Currency Rejection code DQCC to the Rejection Reason

qualifier :24B::REJT, ie :24B::REJT//DQCC

DQCC Currency Rejection

Invalid instructed currency.

Addition of new Amount Rejection code DQCS to the Rejection Reason

qualifier :24B::REJT, ie :24B::REJT//DQCS

DQCS Amount Rejection


Addition of new Disagreement on Cash Amount code DQCS to the

Cancellation Pending Reason qualifier :24B::CANP, ie :24B::CANP//DQCS

DQCS Disagreement on Cash Amount


Update in definition of the Incorrect Certification code CERT to the Pending

Reason qualifier :24B::PEND, ie :24B::PEND//CERT

CERT Incorrect Certification

The Instruction is rejected since the provided certification is incorrect or

incomplete.

Clients may receive these possible status updates if incorrectly electing on a

cash amount

MT567

:16R:GENL

:20C::CORP//39701234567

:20C::SEME//39701234567/003

:23G:INST

:22F::CAEV//PRIO

:98C::PREP//20170130163015

:16R:LINK

:20C::CORP//39701234567

:16S:LINK

:16R:STAT

:25D::IPRC//REJT

:16R:REAS

:24B::REJT//DQCS

:16S:STAT

:16S:GENL

:16R:CADETL

:13A::CAON//001

:22F::CAOP//CASH

:97A::SAFE//1234567890

:35B:ISIN ES0144580Y14

IBERDROLA SA

SHS

:36B::STAQ//UNIT/18083023,

:93B::ELIG//UNIT/18083023,

:93B::INBA//UNIT/18083023,

:93B::UNBA//UNIT/0,

:16S:CADETL

:16R:ADDINFO

:70E::ADTX///REPORTING BANK/CITIBANK LONDON

:16S:ADDINFO

of 36


CITI Requirement

No

SWIFT

Messages

Effected

Mandatory /

Optional /

Definition Change


MT564 NA NA

MT565 NA NA

MT566 NA NA

MT567 MandatoryA2a

REAS

MT568 NA NA

Req 4.9


Overview

Two options:

1) In MT 564, sequence E, field 22F, swap the definitions of code BOIS, used

with qualifier OPTF, and code FULL, used with qualifier CETI.

2) In MT 567, sequence A2a, field 24B, qualifier PEND and qualifier REJT,

remove code BOIS and replace it with code FULL.

To solve inconsistencies with codes that request beneficiary owner

information from the account owner.

The maintenance working group selected solution 2 for the implementation,

leaving the MT 564 untouched.

This change is mandatory on inbound and outbound messages as it involves

the deletion of a code and its replacement by a new one.

Requirement

Deletion of the Pending Beneficiary Owner Details code BOIS to the Pending

Reason qualifier :24B::PEND, ie :24B::PEND//BOIS

BOIS Pending Beneficiary Owner Details

Pending receipt of beneficiary owner details.

Addition of new Pending Beneficiary Owner Details code FULL to the Pending

Reason qualifier :24B::PEND, ie :24B::PEND//FULL

FULL Pending Beneficiary Owner Details

Pending receipt of beneficiary owner details.

Deletion of the Missing Beneficiary Owner Details code BOIS to the Rejection

Reason qualifier :24B::REJT, ie :24B::REJT//BOIS

BOIS Missing Beneficiary Owner Details

Rejected due to missing beneficiary owner details.

Addition of new Missing Beneficiary Owner Details code FULL to the

Rejection Reason qualifier :24B::PEND, ie :24B::REJT//FULL

FULL Missing Beneficiary Owner Details

Rejected due to missing beneficiary owner details.

Clients will no longer receive the BOIS status update and will receive the FULL

one instead if applicable.

New SMPG Guidelines

3.17 Beneficiary Owner Level and Details Disclosure for Instruction

Processing

Two codes are present in the Notification message for the account servicer to

advise the account owner about beneficiary owner information requirements in

his instruction(s). Both codes correspond to 2 different scenarios:

1) Beneficiary Owner Instruction [:22F::OPTF//BOIS <>

CorporateActionOptionsDetails/OptionFeatures/Code/BOIS]:

The account servicer requests the account owner to instruct at the level of

beneficial ownership and not at omnibus level. In other words, the account

owner must create as many instructions as the number of beneficiary owner’s

instructions. This does not mean that a disclosure is necessary.

2) Full Beneficial Owner Breakdown [:22F::CETI//FULL <>

CorporateActionOptionsDetails/CertificationBreakdownType/Code/FULL]:

The holder of the security has to provide his beneficiary Owner details for

disclosure/instruction purposes. This is typically done by using the Beneficial

Owner Details [BENODET] sequence in the Instruction message. Validation of

scenario 1 is not feasible for the account servicer as it might not have a view on

the omnibus account. Therefore, there is no related reason code defined in the

Instruction Status Advice message. Scenario 2 is simpler as the information

should be explicitly mentioned in the beneficial owner details of the instruction.

In case the account owner did not comply with the request, the account

servicer can reject the instruction using the “Pending Beneficiary Owner

Details” reason code [:24B::PEND//FULL or :24B::REJT//FULL <>

InstructionProcessingStatus/Pending/Reason/ReasonCode/FULL or

InstructionProcessingStatus/Rejected/Reason/ReasonCode/FULL] in the

Instruction Status Advice message.

NA as No Change NA as No Change

of 36


CITI Requirement

No

SWIFT

Messages

Effected

Mandatory /

Optional /

Definition Change


MT300 NA NA

MT304 Mandatory Sequence A

MT321 NA NA

MT380 NA NA

MT381 NA NA

FX

Req 5.0


Overview

Add structured fields for support of non-deliverable forward (NDF) opening

and valuation instruction messages. Retire use of NDF codes in field 72, in

sequence C.

NDF trades have, until now, been instructed using codes in a free format

field, which has led to manual processing and errors. This CR replaces these

codes with specific structured and validated fields.

Mandatory impact on users of the MT 304 for NDFs and cash-settled

forwards.

Requirement

Addition of new Scope of Operation code ANDF, Non-Deliverable Forward” to

field 94A, ie :94A:ANDF

ANDF Non-Deliverable Forward

Indicates that the foreign exchange is a non-deliverable forward (NDF). The

trade will be cash-settled in the agreed settlement currency.

Change of definition to the Open Indicator field 17O

Definition

This field specifies whether the instruction is for the opening of an FCC or

NDF or for the closing of an FCC or valuation of an NDF.

Change of definition to the Open Indicator field 17O with indicator N (No)

Definition

The partial or final close of an FCC or the valuation of an NDF

Change of definition to the Open Indicator field 17O with indicator Y (Yes)

Definition

The opening of an FCC or of an NDF

Change of definition to the Final Close Indicator field 17F

Definition

This field specifies whether the instruction is for the final close or the partial

close of an FCC or NDF.

Change of definition to the Final Close Indicator field 17F with indicator N (No)

Definition

The partial close of an FCC or NDF

Change of definition to the Final Close Indicator field 17F with indicator Y

(Yes)

Definition

The final close of an FCC or NDF

Non-Deliverable Forwards will no longer be instructed using the AFWD Scope

of Operation and AFWD will now only apply to Forward Currency Contracts

(FCC) or Hedge

:15A:

:20:1234567890A

:22A:NEWT

:94A:ANDF

:17O:Y

:83J:/ACCT/600000000

/NAME/ABC ACCOUNT

:82J:/ABIC/ABCDGB2L

/NAME/ABC COMPANY LTD

:87J:/ABIC/EFGHGB2L

/NAME/EFG COMPANY LONDON

:30U:20160210

:15B:

:30T:20160210

:30V:20160102

:36:0,8609

:32B:GBP15987337,73

:53J:/ABIC/ZYXWGB2LXXX

/ACCT/0987654321

/NAME/ZYX COMPANY

:33B:EUR18570493,36

:57J:/ABIC/VUTSGB2LXXX

/NAME/VUT COMPANY


/ACCT/1234567

/NAME/VUT COMPANY

:15A:

:20:1234567890A

:22A:NEWT

:94A:AFWD

:17O:Y

:83J:/ACCT/600000000

/NAME/ABC ACCOUNT

:82J:/ABIC/ABCDGB2L


:87J:/ABIC/EFGHGB2L


:15B:

:30T:20160210

:30V:20160102

:36:0,8609

:32B:GBP15987337,73


/ACCT/0987654321

/NAME/ZYX COMPANY

:33B:EUR18570493,36


/NAME/VUT COMPANY


/ACCT/1234567

/NAME/VUT COMPANY

of 36


CITI Requirement

No

SWIFT

Messages

Effected

Mandatory /

Optional /

Definition Change


MT300 NA NA


MT321 NA NA

MT380 NA NA

MT381 NA NA

Req 5.1


Overview



sequence C.





forwards.

Requirement

Update to the definition of Network Validation Rule C2

In sequence A, the presence of fields 17O and 17N depends on field 94A as

follows (Error code(s): D03):

Sequence A if field 94A is ... AFWD

Sequence A then field 17O is ... Mandatory

Sequence A and field 17N is ... Mandatory

Sequence A if field 94A is ... ANDF


Sequence A and field 17N is ... Not Allowed

Sequence A if field 94A is ... ASET

Sequence A then field 17O is ... Not Allowed

Sequence A and field 17N is ... Not Allowed


The presence of sequence D depends on fields 94A and field 17O as follows

(Error code(s): D23):

Sequence A if field 94A 17O is ... AFWD

Sequence A and if field 17O Then sequence D is ... N

Then sequence D is ... Mandatory

Sequence A if field 94A 17O is ... AFWD Y

Sequence A and if field 17O Then sequence D is ... Y Not Allowed

Then sequence D is ... Not Allowed

Sequence A if field 94A 17O is ... ANDF

Sequence A and if field 17O Then sequence D is ... N

Then sequence D is ... Optional

Sequence A if field 94A 17O is ... ANDF

Sequence A and if field 17O Then sequence D is ... Y

Then sequence D is ... Not allowed

Sequence A if field 94A 17O is ... ASET Not present

Sequence A and if field 17O Then sequence D is ... Not applicable allowed

Then sequence D is ... Not Allowed


The presence of sequence E depends on fields 17F and 17N as follows

(Error code(s): D29)

Sequence A if field 17F is ... Y

Sequence A and field 17N is ... Y

Then sequence E is ... Mandatory


Sequence A and field 17N is ... N

Then sequence E is ... Not allowed


Sequence A and field 17N is ... Not Present

Then sequence E is ... Optional

Sequence A if field 17F is ... N

Sequence A and field 17N is ... Y or N or not present


Sequence A if field 17F is ... Not present

Sequence A and field 17N is ... Y or N or not present


Non-Deliverable Forwards will no longer be instructed using the AFWD Scope

of Operation and AFWD will now only apply to Forward Currency Contracts

(FCC) or Hedge

See above and

:15A:

:20:1234567890A

:22A:NEWT

:94A:ANDF

:17O:N

:17F:N

:83J:/ACCT/600000000

/NAME/ABC ACCOUNT

:82J:/ABIC/ABCDGB2L


:87J:/ABIC/EFGHGB2L


:30U:20160210

:15B:

:30T:20160210

:30V:20160102

:36:0,8609

:32B:GBP15987337,73


/ACCT/0987654321

/NAME/ZYX COMPANY

:33B:EUR18570493,36


/NAME/VUT COMPANY


/ACCT/1234567

/NAME/VUT COMPANY

:15A:

:20:1234567890A

:22A:NEWT

:94A:ANDF

:17O:N

:17F:Y

:83J:/ACCT/600000000

/NAME/ABC ACCOUNT

:82J:/ABIC/ABCDGB2L


:87J:/ABIC/EFGHGB2L


:30U:20160210

:15B:

:30T:20160210

:30V:20160102

:36:0,8609

:32B:GBP15987337,73


/ACCT/0987654321

/NAME/ZYX COMPANY

:33B:EUR18570493,36


/NAME/VUT COMPANY


/ACCT/1234567

/NAME/VUT COMPANY

The rules are not changing for the current state so the use of the Network

Validation Rules remain as is for Forward Currency Contract and Settlement

Contract instructions

of 36


CITI Requirement

No

SWIFT

Messages

Effected

Mandatory /

Optional /

Definition Change


MT300 NA NA


MT321 NA NA

MT380 NA NA

MT381 NA NA

Req 5.2


Overview



sequence C.





forwards.

Requirement

Deletion of Sender to Receiver Information field 72, line 1 and 2-6, code

SETC

SETC

Followed by the Settlement Currency of a Non Deliverable trade.

Addition of new Settlement Currency field 32E

17. Field 32E: Settlement Currency

FORMAT

Option E 3!a (Currency)

PRESENCE

Conditional (see rule C8) in mandatory sequence A

DEFINITION

This field specifies the settlement currency of the non-deliverable trade.


Currency must be a valid ISO 4217 currency code (Error code(s): T52).

The codes XAU, XAG, XPD and XPT are not allowed, as these are codes for

commodities for which the category 6 commodities messages must be used

(Error code(s): C08).

The /SETC/ code can no longer be used in the Sender to Receiver Information

field 72 and can optionally be used in the new 32E Settlement Currency field

instead.

This new field can only be used when the Scope of Operation is ANDF

:15A:

:20:1234567890A

:22A:NEWT

:94A:ANDF

:17O:Y

:83J:/ACCT/600000000

/NAME/ABC ACCOUNT

:82J:/ABIC/ABCDGB2L


:87J:/ABIC/EFGHGB2L


:32E::GBP

:30U:20160210

:15B:

:30T:20160210

:30V:20160102

:36:0,8609

:32B:GBP15987337,73


/ACCT/0987654321

/NAME/ZYX COMPANY

:33B:EUR18570493,36


/NAME/VUT COMPANY


/ACCT/1234567

/NAME/VUT COMPANY

:15A:

:20:1234567890A

:22A:NEWT

:94A:AFWD

:17O:Y

:83J:/ACCT/600000000

/NAME/ABC ACCOUNT

:82J:/ABIC/ABCDGB2L


:87J:/ABIC/EFGHGB2L


:15B:

:30T:20160210

:30V:20160102

:36:0,8609

:32B:GBP15987337,73


/ACCT/0987654321

/NAME/ZYX COMPANY

:33B:EUR18570493,36


/NAME/VUT COMPANY


/ACCT/1234567

/NAME/VUT COMPANY

:15C:

:72:/SETC/GBP

of 36


CITI Requirement

No

SWIFT

Messages

Effected

Mandatory /

Optional /

Definition Change


MT300 NA NA


MT321 NA NA

MT380 NA NA

MT381 NA NA

Req 5.3


Overview



sequence C.





forwards.

Requirement


VALD

VALD

Followed by the Valuation (Fixing) Date of a Non Deliverable trade.

Addition of new Valuation Date field 30U

18. Field 30U: Valuation Date

FORMAT

Option U 8!n (Date)

PRESENCE


DEFINITION

This field specifies the valuation date for a non-deliverable trade.


Date must be a valid date expressed as YYYYMMDD (Error code(s): T50).

The /VALD/ code can no longer be used in the Sender to Receiver Information

field 72 and can optionally be used in the new 30U Valuation Date field instead.

This new field can only be used when the Scope of Operation is ANDF and this

field is mandatory for ANDF instructions

:15A:

:20:1234567890A

:22A:NEWT

:94A:ANDF

:17O:Y

:83J:/ACCT/600000000

/NAME/ABC ACCOUNT

:82J:/ABIC/ABCDGB2L


:87J:/ABIC/EFGHGB2L


:30U:20160210

:15B:

:30T:20160210

:30V:20160102

:36:0,8609

:32B:GBP15987337,73


/ACCT/0987654321

/NAME/ZYX COMPANY

:33B:EUR18570493,36


/NAME/VUT COMPANY


/ACCT/1234567

/NAME/VUT COMPANY

:15A:

:20:1234567890A

:22A:NEWT

:94A:AFWD

:17O:Y

:83J:/ACCT/600000000

/NAME/ABC ACCOUNT

:82J:/ABIC/ABCDGB2L


:87J:/ABIC/EFGHGB2L


:15B:

:30T:20160210

:30V:20160102

:36:0,8609

:32B:GBP15987337,73


/ACCT/0987654321

/NAME/ZYX COMPANY

:33B:EUR18570493,36


/NAME/VUT COMPANY


/ACCT/1234567

/NAME/VUT COMPANY

:15C:

:72:/VALD/20160210

of 36


CITI Requirement

No

SWIFT

Messages

Effected

Mandatory /

Optional /

Definition Change


MT300 NA NA


MT321 NA NA

MT380 NA NA

MT381 NA NA

Req 5.4


Overview



sequence C.





forwards.

Requirement


SRCE

SRCE

Followed by Settlement Rate Source for a cross currency Non Deliverable

trade.


19. Field 14S: Settlement Rate Source

FORMAT

Option S 3!a2n[/4!n/4!c] (Rate Source)(Time and Location)

PRESENCE


DEFINITION

This field specifies the rate source for the settlement of the non-deliverable

trade and includes an optional time and location for the settlement.


Time must be a valid time expressed as HHMM (Error code(s): T38).

A maximum of two occurrences of this field is allowed (Error code(s): T10).

USAGE RULES

The values to be used for the settlement rate source are published in Annex

A of the 1998 FX and Currency Option Definitions (the FX definitions, as

published by the International Swaps and Derivatives Association, Inc., the

Emerging Markets Traders Association and the Foreign Exchange

Committee) as amended and supplemented from time to time.

Rate Source must be "EMT00" for confirmations where the terms are

governed by an EMTA template.

For some cross currency NDFs two separate settlement rate sources may be

quoted, in which case the fields must appear in alphabetical order of Rate

Source.

In subfield Time and Location, Location (4!c) consists of a two character ISO

country code and a two character location code. The location code is made

up as follows:

• if the location name is one word, then the location code is the first two letters

of the location name

• if the location name consists of at least two words, then the location code is

the first letter of the first word followed by the first letter of the second word

The /SRCE/ code can no longer be used in the Sender to Receiver Information

field 72 and can optionally be used in the new 14S Settlement Rate Source field

instead.


:15A:

:20:1234567890A

:22A:NEWT

:94A:ANDF

:17O:Y

:83J:/ACCT/600000000

/NAME/ABC ACCOUNT

:82J:/ABIC/ABCDGB2L


:87J:/ABIC/EFGHGB2L


:30U:20160210

:14S:XXX00

:15B:

:30T:20160210

:30V:20160102

:36:0,8609

:32B:GBP15987337,73


/ACCT/0987654321

/NAME/ZYX COMPANY

:33B:EUR18570493,36


/NAME/VUT COMPANY


/ACCT/1234567

/NAME/VUT COMPANY

:15A:

:20:1234567890A

:22A:NEWT

:94A:AFWD

:17O:Y

:83J:/ACCT/600000000

/NAME/ABC ACCOUNT

:82J:/ABIC/ABCDGB2L


:87J:/ABIC/EFGHGB2L


:15B:

:30T:20160210

:30V:20160102

:36:0,8609

:32B:GBP15987337,73


/ACCT/0987654321

/NAME/ZYX COMPANY

:33B:EUR18570493,36


/NAME/VUT COMPANY


/ACCT/1234567

/NAME/VUT COMPANY

:15C:

:72:/VALD/20160210

/SETC/GBP

/SRCE/XXX00

of 36


CITI Requirement

No

SWIFT

Messages

Effected

Mandatory /

Optional /

Definition Change


MT300 NA NA


MT321 NA NA

MT380 NA NA

MT381 NA NA

Req 5.5


Overview



sequence C.





forwards.

Requirement

Deletion of Sender to Receiver Information field 72, line 1 and 2-6, code FIX

FIX

Followed by the reference of the confirmation sent for the opening of the Non

Deliverable trade.


20. Field 21A: Reference to Opening Instruction

FORMAT

Option A 16x

PRESENCE


DEFINITION

This field contains the identification of the NDF opening instruction, to which

the current valuation message is related, that is, the sender's reference in

field 20 of the opening confirmation.


This field must not start or end with a slash '/' and must not contain two

consecutive slashes '//' (Error code(s): T26).

The /FIX/ code can no longer be used in the Sender to Receiver Information

field 72 and can optionally be used in the new 21A Reference to Opening

Instruction field instead.


:15A:

:20:1234567890A

:22A:NEWT

:94A:ANDF

:17O:Y

:83J:/ACCT/600000000

/NAME/ABC ACCOUNT

:82J:/ABIC/ABCDGB2L


:87J:/ABIC/EFGHGB2L


:30U:20160210

:21A:1234567890

:15B:

:30T:20160210

:30V:20160102

:36:0,8609

:32B:GBP15987337,73


/ACCT/0987654321

/NAME/ZYX COMPANY

:33B:EUR18570493,36


/NAME/VUT COMPANY


/ACCT/1234567

/NAME/VUT COMPANY

:15A:

:20:1234567890A

:22A:NEWT

:94A:AFWD

:17O:Y

:83J:/ACCT/600000000

/NAME/ABC ACCOUNT

:82J:/ABIC/ABCDGB2L


:87J:/ABIC/EFGHGB2L


:15B:

:30T:20160210

:30V:20160102

:36:0,8609

:32B:GBP15987337,73


/ACCT/0987654321

/NAME/ZYX COMPANY

:33B:EUR18570493,36


/NAME/VUT COMPANY


/ACCT/1234567

/NAME/VUT COMPANY

:15C:

:72:/FIX/1234567890

of 36


CITI Requirement

No

SWIFT

Messages

Effected

Mandatory /

Optional /

Definition Change


MT300 NA NA


MT321 NA NA

MT380 NA NA

MT381 NA NA

Req 5.6


Overview



sequence C.





forwards.

Requirement

Update to the definition of the Network Validation Rules for the Sender to

Receiver Information field 72


If code VALD is used:

• it must appear in the first six characters of the first line and in no other

place, followed by a date expressed as YYYYMMDD and the end of line

separator (that is :72:/VALD/YYYYMMDDCrLf) (Error code(s): C58).

If code SETC is used:

• it must appear in the first six characters of the second line and in no other

place and /SETC/ must be followed by a valid ISO 4217 currency code and

the end of line code, that is CrLf (Error code(s): C59)

• the first six characters of the first line must be /VALD/ (Error code(s): C59)

If the code SRCE is used:

• /SRCE/ must be at the start of the third line and in no other place (Error

code(s): C59)

• the first six characters of the second line must be /SETC/ (Error code(s):

C59)

Code must not be UTI, PUTI, USI or PUSI (Error code(s): T49).

Code must not be FIX, SETC, SRCE or VALD (Error code(s): T70).

Update to the definition of the Usage Rules for the Sender to Receiver

Information field 72

USAGE RULES

Each code used must be put between slashes and appear at the beginning of

a line.

All alphabetic characters in a code must be in upper case.

Additional explanatory information, which may be continued on the next lines,

is preceded by a double slash '//'. Narrative text that is not qualified by a code

must start with a double slash '//' on a new line, and should preferably be the

last information in this field.

Field 72 must not be used for information for which another field is intended.

The use of this field with unstructured text may require manual intervention

and thus cause delay in automated systems.

If the scope of operation (field 94A) is ASET and the advice relates to the

fixing of a Non Deliverable Forward (NDF), the reference of the opening

confirmation must appear on the first line, preceded by /FIX/. If the scope of

operation is ASET and the advice relates to the opening of an NDF, its

valuation date has to be confirmed on the first line of this field, preceded by

/VALD/ and the settlement currency on the second line, preceded by /SETC/.

The settlement currency (/SETC/) may be populated with 'XXX'.

If the first six characters of the first line are equal to /VALD/, if the settlement

currency of the non deliverable trade is known, then the second line must be

present and contain /SETC/ followed by a currency code, and the end of line

code, that is CrLf .

Optionally the settlement rate source for cross currency NDF can be

confirmed on the third line.

The settlement rate source is only to be used:

• in conjunction with a bilaterally agreed master confirmation agreement and

• where the transaction is a cross currency NDF, that is, where /SETC/ is not

followed by USD.

Where available, the settlement rate source should conform to the 1998 FX

and Currency Option Definitions (the FX definitions, as published by the

International Swaps and Derivatives Association, Inc., the Emerging Markets

Traders Association and The Foreign Exchange Committee) as amended and

supplemented from time to time. Otherwise, this may be a bilaterally agreed

value.

Settlement rate source may optionally be followed by a time in format /HHMM,

which refers to the local time of the centre in which it is published, for

example, RCE/EUR1 or SRCE/ECB37 USD/EUR (where the definitions

include the time), or SRCE/EUR3 or SRCE/TKFE USD/EUR/1500 (where the

definitions do not include a time).

Addition of Network Validation Rule C8

In sequence A, if field 94A contains "ANDF", then fields 32E, 14S and 21A

are optional and field 30U is mandatory, otherwise fields 32E, 14S, 21A and

30U are not allowed (Error code(s): C87):

Sequence A if field 94A is ... ANDF

Sequence A then fields 32E, 14S and 21A are ... Optional

Sequence A and field 30U is ... Mandatory

Sequence A if field 94A is ... AFWD, ASET

Sequence A then fields 32E, 14S and 21A are ... Not allowed

See Requirements 5.2 to 5.5 See Requirements 5.2 to 5.5 See Requirements 5.2 to 5.5

of 36


CITI Requirement

No

SWIFT

Messages

Effected

Mandatory /

Optional /

Definition Change


MT300

Optional but with

Mandatory

Elements

Sequence A

MT304 NA NA

MT321 NA NA

MT380 NA NA

MT381 NA NA

Req 5.7


Overview


and valuation confirmation messages. Retire use of NDF codes in field 77D,

in sequence A.

NDF trades have, until now, been confirmed using codes in a free format




forwards.

Requirement

Deletion of the code SETC from the Terms and Conditions field 77D

SETC

Followed by the Settlement Currency of a Non Deliverable trade.

Addition of new Settlement Currency field 32E

18. Field 32E: Settlement Currency

FORMAT

Option E 3!a (Currency)

PRESENCE


DEFINITION

This field specifies the settlement currency of the non-deliverable trade.


Currency must be a valid ISO 4217 currency code (Error code(s): T52).

The codes XAU, XAG, XPD and XPT are not allowed, as these are codes for

commodities for which the category 6 commodities messages must be used

(Error code(s): C08).

No Impact

Citi will not be playing back this field on the MT300

NA NA

of 36


CITI Requirement

No

SWIFT

Messages

Effected

Mandatory /

Optional /

Definition Change


MT300

Optional but with

Mandatory

Elements

Sequence A

MT304 NA NA

MT321 NA NA

MT380 NA NA

MT381 NA NA

Req 5.8


Overview



in sequence A.





forwards.

Requirement

Deletion of the code VALD from the Terms and Conditions field 77D

VALD

Followed by the Valuation (Fixing) Date of a Non Deliverable trade.


19. Field 30U: Valuation Date

FORMAT

Option U 8!n (Date)

PRESENCE


DEFINITION

This field specifies the valuation date for a non-deliverable trade.


Date must be a valid date expressed as YYYYMMDD (Error code(s): T50).

No Impact


NA NA

of 36


CITI Requirement

No

SWIFT

Messages

Effected

Mandatory /

Optional /

Definition Change


MT300

Optional but with

Mandatory

Elements

Sequence A

MT304 NA NA

MT321 NA NA

MT380 NA NA

MT381 NA NA

Req 5.9


Overview



in sequence A.





forwards.

Requirement

Deletion of the code SCRE from the Terms and Conditions field 77D

SRCE

Followed by Settlement Rate Source for a cross currency Non Deliverable

trade.


20. Field 14S: Settlement Rate Source

FORMAT

Option S 3!a2n[/4!n/4!c] (Rate Source)(Time and Location)

PRESENCE


DEFINITION

This field specifies the rate source for the settlement of the non-deliverable

trade and includes an optional time and location for the settlement.


Time must be a valid time expressed as HHMM (Error code(s): T38).

A maximum of two occurrences of this field is allowed (Error code(s): T10).

USAGE RULES

The values to be used for the settlement rate source are published in Annex

A of the 1998 FX and Currency Option Definitions (the FX definitions, as

published by the International Swaps and Derivatives Association, Inc., the

Emerging Markets Traders Association and the Foreign Exchange

Committee) as amended and supplemented from time to time.

Rate Source must be "EMT00" for confirmations where the terms are

governed by an EMTA template.

For some cross currency NDFs two separate settlement rate sources may be

quoted, in which case the fields must appear in alphabetical order of Rate

Source.

In subfield Time and Location, Location (4!c) consists of a two character ISO

country code and a two character location code. The location code is made

up as follows:

• if the location name is one word, then the location code is the first two letters

of the location name

• if the location name consists of at least two words, then the location code is

the first letter of the first word followed by the first letter of the second word

No Impact


NA NA

of 36


CITI Requirement

No

SWIFT

Messages

Effected

Mandatory /

Optional /

Definition Change


MT300

Optional but with

Mandatory

Elements

Sequence A

MT304 NA NA

MT321 NA NA

MT380 NA NA

MT381 NA NA

Req 5.10


Overview



in sequence A.





forwards.

Requirement

Deletion of the code FIX from the Terms and Conditions field 77D

FIX

Followed by the reference of the confirmation sent for the opening of the Non

Deliverable trade.


21. Field 21A: Reference to Opening Instruction

FORMAT

Option A 16x

PRESENCE


DEFINITION

This field contains the identification of the NDF opening instruction, to which

the current valuation message is related, that is, the sender's reference in

field 20 of the opening confirmation.


This field must not start or end with a slash '/' and must not contain two

consecutive slashes '//' (Error code(s): T26).

No Impact


NA NA

of 36


CITI Requirement

No

SWIFT

Messages

Effected

Mandatory /

Optional /

Definition Change


MT300

Optional but with

Mandatory

Elements

Sequence A

MT304 NA NA

MT321 NA NA

MT380 NA NA

Req 5.11


Overview



in sequence A.





forwards.

Requirement

Update to the definition of the Network Validation Rules for the Terms and

Conditions field 77D


/FIX/, /SETC/, /SRCE/ or /VALD/ must not be present at the start of any line

(Error code(s): T70).


• it must appear in the first 6 characters of the first line, and in no other place,

followed by a date expressed as YYYYMMDD and the end of line separator

(that is :77D:/VALD/YYYYMMDDCrLf) (Error code(s): C58).

• the second line must be present and contain the code SETC, followed by a

valid ISO 4217 currency code and the end of line separator (that is

/SETC/currencyCrLf)(Error code(s): C59).

Conversely, if the first six characters of the second line are equal to /SETC/,

then the first six characters of the first line must be equal to /VALD/ (Error

code(s): C59).

The code /SETC/ is not allowed in other places than the first six characters of

the second line (Error code(s): C59).

If the first six characters of the third line are /SRCE/, then the first six

characters of the second line must be /SETC/ (Error code(s): C59).

The code /SRCE/ is not allowed in any other place than the first six

characters of the third line (Error code(s): C59).

Update to the definition of the Usage Rules for the Terms and Conditions field

77D

USAGE RULES

This field may refer to master agreements which have been put in place on a

bilateral basis. It may also refer to local regulations or to specific conditions

applicable to the trade.

If this field is not present, the deal conforms either to bilateral agreements or

to usual banking practice.

When structured format is used for bilaterally agreed codes, each code must

be put between slashes and appear at the beginning of a line. Each character

in a code must be in upper case.

This field may be used in confirmations for which bilateral side letters for Non

Deliverable Forward NDF trades have been exchanged between Party A and

Party B. If the confirmation relates to the fixing of an NDF, the reference of

the opening confirmation must appear on the first line, if the confirmation

relates to the opening of an NDF, its valuation date has to be confirmed on

the first line of this field and the settlement currency on the second line.

When matching is not required for settlement currency, then the settlement

currency (/SETC/) may be populated with 'XXX' .






followed by USD.






value.



example, SRCE/EUR1 or SRCE/ECB37 USD/EUR (where the definitions



Update to the definition of the Network Validated Rules for the Sender to





No Impact

Citi do not currently support these codes in the MT300

NA NA

of 36


CITI Requirement

No

SWIFT

Messages

Effected

Mandatory /

Optional /

Definition Change


MT381 NA NA

Req 5.11


Overview



in sequence A.





forwards.

Requirement

Update to the definition of the Network Validation Rules for the Terms and

Conditions field 77D


/FIX/, /SETC/, /SRCE/ or /VALD/ must not be present at the start of any line

(Error code(s): T70).


• it must appear in the first 6 characters of the first line, and in no other place,

followed by a date expressed as YYYYMMDD and the end of line separator

(that is :77D:/VALD/YYYYMMDDCrLf) (Error code(s): C58).

• the second line must be present and contain the code SETC, followed by a

valid ISO 4217 currency code and the end of line separator (that is

/SETC/currencyCrLf)(Error code(s): C59).

Conversely, if the first six characters of the second line are equal to /SETC/,

then the first six characters of the first line must be equal to /VALD/ (Error

code(s): C59).

The code /SETC/ is not allowed in other places than the first six characters of

the second line (Error code(s): C59).

If the first six characters of the third line are /SRCE/, then the first six

characters of the second line must be /SETC/ (Error code(s): C59).

The code /SRCE/ is not allowed in any other place than the first six

characters of the third line (Error code(s): C59).

Update to the definition of the Usage Rules for the Terms and Conditions field

77D

USAGE RULES

This field may refer to master agreements which have been put in place on a

bilateral basis. It may also refer to local regulations or to specific conditions

applicable to the trade.

If this field is not present, the deal conforms either to bilateral agreements or

to usual banking practice.

When structured format is used for bilaterally agreed codes, each code must

be put between slashes and appear at the beginning of a line. Each character

in a code must be in upper case.

This field may be used in confirmations for which bilateral side letters for Non

Deliverable Forward NDF trades have been exchanged between Party A and

Party B. If the confirmation relates to the fixing of an NDF, the reference of

the opening confirmation must appear on the first line, if the confirmation

relates to the opening of an NDF, its valuation date has to be confirmed on

the first line of this field and the settlement currency on the second line.

When matching is not required for settlement currency, then the settlement

currency (/SETC/) may be populated with 'XXX' .






followed by USD.






value.



example, SRCE/EUR1 or SRCE/ECB37 USD/EUR (where the definitions



Update to the definition of the Network Validated Rules for the Sender to





No Impact

Citi do not currently support these codes in the MT300

NA NA

of 36


CITI Requirement

No

SWIFT

Messages

Effected

Mandatory /

Optional /

Definition Change


MT300

Optional but with

Mandatory

Elements

Sequence A

MT304 NA NA

MT321 NA NA

MT380 NA NA

Req 5.12


Overview



sequence C.





forwards.

Requirement

Addition of new Non-Deliverable Indicator field 17F

16. Field 17F: Non-Deliverable Indicator

FORMAT

Option F 1!a (Indicator)

PRESENCE

Optional in mandatory sequence A

DEFINITION

This field specifies whether or not the confirmation is for a non-deliverable

trade.

CODES

Indicator must contain one of the following codes (Error code(s): T36):

N A deliverable trade

Y A non-deliverable trade, that is the deal will be cash-settled

USAGE RULES

For a non-deliverable trade, this field must be present and contain "Y".

The absence of this field means that it is a deliverable trade.


17. Field 17O: NDF Open Indicator

FORMAT

Option O 1!a (Indicator)

PRESENCE


DEFINITION

For a non-deliverable trade, this field specifies whether or not the confirmation

is for an opening instruction.

CODES


N The valuation confirmation

Y The opening confirmation

USAGE RULES

For an NDF opening confirmation, this field must contain "Y".

For an NDF valuation (also known as fixing) confirmation this field must

contain "N".


In sequence A, if field 17F is present and contains "Y", then field 17O must

also be present, otherwise field 17O is not allowed (Error code(s): C87):




Sequence A then field 17O is ... Not allowed




In sequence A, if field 17O is present and contains "Y", then fields 32E, 30U,

and at least one occurrence of 14S must also be present and field 21A is not

allowed. If 17O is present and contains "N", then field 21A must be present

and fields 32E, 30U, and 14S are not allowed. If field 17O is not present, then

fields 32E, 30U, 14S, and 21A are not allowed (Error code(s): C87):

Sequence A if field 17O is ... Y

Sequence A then fields 32E, 30U and 14S are ... Mandatory

Sequence A and field 21A is ... Not allowed

Sequence A if field 17O is ... N

Sequence A then fields 32E, 30U and 14S are ... Not allowed

Sequence A and field 21A is ... Mandatory

Sequence A if field 17O is ... Not present



No Impact


NA NA

of 36


CITI Requirement

No

SWIFT

Messages

Effected

Mandatory /

Optional /

Definition Change


MT381 NA NA

MT300 Optional Sequence A


MT321 NA NA

MT380 NA NA

MT381 NA NA

Req 5.12


Overview



sequence C.





forwards.

Requirement


16. Field 17F: Non-Deliverable Indicator

FORMAT

Option F 1!a (Indicator)

PRESENCE


DEFINITION

This field specifies whether or not the confirmation is for a non-deliverable

trade.

CODES


N A deliverable trade

Y A non-deliverable trade, that is the deal will be cash-settled

USAGE RULES

For a non-deliverable trade, this field must be present and contain "Y".

The absence of this field means that it is a deliverable trade.


17. Field 17O: NDF Open Indicator

FORMAT

Option O 1!a (Indicator)

PRESENCE


DEFINITION

For a non-deliverable trade, this field specifies whether or not the confirmation

is for an opening instruction.

CODES


N The valuation confirmation

Y The opening confirmation

USAGE RULES

For an NDF opening confirmation, this field must contain "Y".

For an NDF valuation (also known as fixing) confirmation this field must

contain "N".


In sequence A, if field 17F is present and contains "Y", then field 17O must

also be present, otherwise field 17O is not allowed (Error code(s): C87):








In sequence A, if field 17O is present and contains "Y", then fields 32E, 30U,

and at least one occurrence of 14S must also be present and field 21A is not

allowed. If 17O is present and contains "N", then field 21A must be present

and fields 32E, 30U, and 14S are not allowed. If field 17O is not present, then

fields 32E, 30U, 14S, and 21A are not allowed (Error code(s): C87):

Sequence A if field 17O is ... Y

Sequence A then fields 32E, 30U and 14S are ... Mandatory


Sequence A if field 17O is ... N


Sequence A and field 21A is ... Mandatory

Sequence A if field 17O is ... Not present



No Impact


NA NA

Req 5.13


Overview

Add an optional, settlement-session field.

To allow a message sender to notify the recipient, typically a market

infrastructure, of the settlement mechanism or session in which the trade

should be processed.

This field is optional and is intended for use by participants of market

infrastructures such as CLS.

Requirement

Addition of new Clearing or Settlement Session field 14E

21. Field 14E: Clearing or Settlement Session

FORMAT

Option E 35x (Reference)

PRESENCE


DEFINITION

The session or service in which a market infrastructure should process a

trade for clearing, settlement or other purposes.

USAGE RULES

A market infrastructure may define proprietary codes that its members may

use in this field.

No Impact

Citi will not be implementing this as part of SR2017. If received on the

MT304, the field will be ignored and will not reduce STP.

There will be no play back on the MT300.

NA NA

of 36


CITI Requirement

No

SWIFT

Messages

Effected

Mandatory /

Optional /

Definition Change




MT321 NA NA

MT380 NA NA

MT381 NA NA

Req 5.14


Overview

Add Canadian province codes to field 22L.

Derivative reporting requirements have been introduced in additional

provinces in Canada.

These codes are optional and are used for trades that are regulated by

various Canadian provinces.

Requirement

Addition of new Reporting Jurisdiction Type codes to field 22L

Code: CAABASC

Definition: Alberta

Code: CABCBCSC

Definition: British Colombia

Code: CANBFCSC

Definition: New Brunswick

Code: CANLDSS

Definition: Newfoundland and Labrador

Code: CANSNSSC

Definition: Nova Scotia

Code: CANTNTSO

Definition: Northwest Territories

Code: CANUNSO

Definition: Nunavut

Code: CAPEIOSS

Definition: Prince Edward Island

Code: CASKFCAA

Definition: Saskatchewan

Code: CAYTOSS

Definition: Yukon

Change in definition to the Field Usage Rules for the Reporting Jurisdiction

field 22L

Field Usage Rules

If the code OTHR is used, the reporting jurisdiction must should be identified

in field 77A Additional Reporting Information.

No Impact




NA NA

of 36


CITI Requirement

No

SWIFT

Messages

Effected

Mandatory /

Optional /

Definition Change


MT300 Optional Sequence E

MT304 Optional Sequence C

MT321 NA NA

MT380 NA NA

MT381 NA NA

Req 5.15


Overview

Add an ISIN field to messages used for OTC Derivatives.

Under MiFID II, derivatives have to be identified with ISINs. It is likely that, as

a consequence, trade confirmations will require the ISIN to be included.

The ISIN is an optional field, which may be utilised by users of SWIFT

messages for OTC derivatives.

Requirement

Addition of new Identification of Financial Instrument field 35B

44. Field 35B: Identification of Financial Instrument

FORMAT

Option B [ISIN1!e12!c] (Identification of Instrument)

[4*35x] (Description of Instrument)

PRESENCE

Optional in optional sequence C

DEFINITION

The ISIN or other identifier for the instrument that was traded.


At least Identification of Instrument or Description of Instrument must be

present; both may be present (Error code(s): T17).

Identification of Instrument must start with the code ISIN (Error code(s):

T12).

USAGE RULES

Certain derivative trades must be assigned an ISIN for regulatory purposes.

This field can be used to notify the Receiver of this ISIN.

An alternative identifier may be included in Description of Instrument, in

addition to, or instead of an ISIN.

If bilaterally agreed codes are used in Description of Instrument, then they

must be placed between slashes '/'.

No Impact




NA NA

of 36


CITI Requirement

No

SWIFT

Messages

Effected

Mandatory /

Optional /

Definition Change


The market, service, or other information is provided in this communication solely for your information and “AS IS” and “AS AVAILABLE”, without any representation or warranty as to accuracy, adequacy, completeness, timeliness or fitness for particular purpose. The user bears full responsibility for all use of such information. Citi may provide updates as further information becomes publicly available but will not be responsible for doing so. The terms, conditions and descriptions that appear are subject to change; provided, however, Citi has no responsibility for updating or correcting any information provided in this communication. No member of the Citi organization shall have any liability to any person receiving this communication for the quality, accuracy, timeliness or availability of any information contained in this communication or for any person’s use of or reliance on any of the information, including any loss to such person.

This communication is not intended to constitute legal, regulatory, tax, investment, accounting, financial or other advice by any member of the Citi organization. This communication should not be used or relied upon by any person for the purpose of making any legal, regulatory, tax, investment, accounting, financial or other decision or to provide advice on such matters to any other person. Recipients of this communication should obtain guidance and/or advice, based on their own particular circumstances, from their own legal, tax or other appropriate advisor.

Not all products and services that may be described in this communication are available in all geographic areas or to all persons. Your eligibility for particular products and services is subject to final determination by Citigroup and/or its affiliates.

The entitled recipient of this communication may make the provided information available to its employees or employees of its affiliates for internal use only but may not reproduce, modify, disclose, or distribute such information to any third parties (including any customers, prospective customers or vendors) or commercially exploit it without Citi’s express written consent. Unauthorized use of the provided information or misuse of any information is strictly prohibited.

© 2017 Citibank, N.A. and/or each applicable affiliate. All rights reserved by Citibank, N.A. and/or each applicable affiliate. Citi and Arc Design is a trademark and service mark of Citigroup Inc., used and registered throughout the world.”

For more details on the terms on which CitiDirect for Securities and Market and Service Information is made available to users, please see the Online User Agreement. The terms of the Online User Agreement prevail in the event of any conflict or inconsistency between those terms and the terms in this disclaimer.

To view the full range of Citi’s securities market and service information, please visit: Market Guide at https://securities.citidirect.com.

For site access or additional information, please contact your Citi representative. Subscribe, unsubscribe or customize your email alert subscriptions directly on Market Guide’s main menu. Go to "My Preferences", and select "Subscriptions".

Markets and Securities Services

https://www.citibank.com/mss/

No Impact

Usage Rule only internal to Citi

NA NAReq 5.16 MT202 Mandatory NA


Overview

Add a usage rule to field 72 to indicate that the information, relevant to the

transaction (for example codes INS, ACC) is expected to be transported

unchanged throughout the transaction chain.

To ensure that intermediary banks pass all relevant information to the

beneficiary bank, to avoid exceptions and investigations and to enable all

banks to perform proper sanctions screening.

This is a documentation change that clarifies the expected use of field 72.

Implementation impact is expected to be low.

Requirement

Update to the definition of the Usage Rules for the Sender to Receiver

Information field 72

USAGE RULES

Field 72 must never be used for information for which another field is

intended.

Each item of information contained in this field must be preceded by a code

which specifically indicates the party for which it is intended.

Codes must be placed between slashes and at the beginning of a line.

Additional explanatory information, which may be continued on the next lines,

is preceded by a double slash '//'.

Narrative text that is not qualified by a code, must start with a double slash '//'

on a new line, and, should preferably be the last information in this field.

It is strongly recommended to use the standard codes. However, where

bilateral agreements covering the use of codes in this field are in effect, the

code must conform to the structure of this field.

Use of field 72, particularly with uncoded instructions, may cause delay,

because in automated systems, the presence of this field will normally require

manual intervention.

This field may contain ERI to transport dual currencies, as specified in the

chapter entitled "Euro-Related Information (ERI)" in the Standards MT

General Information.

In order to comply with the EC-directive on cross border credit transfers, the

optional code word EXCH may be used to transport an exchange rate. In line

with ERI, the code word EXCH is placed between slashes, followed by the

exchange rate, format 12d, and terminated with another slash.

The code INS may be repeated to specify all previously involved financial

institutions in the transaction chain, Instructing institutions should be

indicated in the order in which they were involved in the transaction chain,

that is, the first occurrence specifies the financial institution that received the

instruction from the ordering institution and passed it on to the next institution

in the transaction chain; the last occurrence always indicates the institution

that instructed the sender of this message to execute the transaction.

If codes INS, ACC, or BNF are present in field 72 of a received message,

then these codes and the related details must be passed, unchanged, in field

72 of the subsequent message in the payment chain. Additional codes and

details may be added to field 72 of the subsequent message but the original

INS, ACC and BNF and related details must not be altered or removed.

of 36

https://www.citibank.com/mss/

global: 2017 swift standards release · 3/2/2017 · mt540 na na mt541 na na mt542 na na mt543 na...

Documents