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Standards

Standards MT November 2016

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

17 July 2015


2 High-Level Information

Table of Contents Table of Contents ........................................................................................................................ 2

Preface .......................................................................................................................................... 3

1 Introduction .......................................................................................................................... 4

2 Schedule for SR 2016 .......................................................................................................... 5

3 Impact Levels of the Change Requests ............................................................................ 6

4 Evaluation of the Impact on Interfaces and Applications ............................................... 7

5 Overview of Changes per Category................................................................................... 8 5.1 Category 0 FIN System Messages ............................................................................. 8 5.2 Other Technical Changes ........................................................................................... 9 5.3 Category 1 Customer Payments and Cheques ........................................................ 10 5.4 Category 2 Financial Institution Transfers ................................................................ 12 5.5 Category 3 Foreign Exchange, Money Markets, and Derivatives............................. 13 5.6 Category 4 Collections and Cash Letters ................................................................. 16 5.7 Category 5 Securities Markets .................................................................................. 17

5.7.1 All category 5 messages modification .......................................................... 17 5.7.2 Trade Initiation and Confirmation.................................................................. 18 5.7.3 Settlement and Reconciliation ...................................................................... 18 5.7.4 Corporate Action ........................................................................................... 19 5.7.5 Collateral Management ................................................................................. 24 5.7.6 Other Category 5 changes ............................................................................ 26

5.8 Category 6 Commodities, Syndications, and Reference Data .................................. 27 5.9 Category 7 Documentary Credits and Guarantees ................................................... 28 5.10 Category 8 Travellers Cheques ................................................................................ 29 5.11 Category 9 Cash Management and Customer Status .............................................. 30 5.12 Category n Common Group Messages .................................................................... 31

Legal Notices ............................................................................................................................. 32

Preface

17 July 2015 3

Preface Purpose of this document

This document gives an overview of all MT change requests received by SWIFT Standards for the next Standards MT Release. The purpose of this document is to inform the SWIFT community and allow them to start allocating budget and resources for the next maintenance of the Standards MT messages. Technical implementers and operational users of the MT messages can use this document to evaluate the impact on interfaces and applications.

This document is not intended to be final. All change requests need to be validated by a maintenance working group (MWG) and can be subject to modification or rejection. After the MWG decision, user group chairpersons of all countries are able to discuss the change requests in their user group and vote on the acceptance or rejection of individual change requests. The SWIFT Board must ratify the outcome of the country vote.

Intended audience

This document is for the following audience: • Technical implementers of the Standards MT messages • Operational users of the Standards MT messages • All other interested SWIFT users



1 Introduction Warning: This document describes changes that are still requests. These requests must be

validated by a maintenance working group and a number of them will be rejected. Country user groups must then vote the approved requests and the Board must ratify those that are accepted by the country vote.

The High-Level Information document is part of the normal standards development and implementation procedures. This document describes the expected or requested changes for Standards MT Release 2016 (SR 2016). SWIFT distributes this document 16 months before the Standards MT Release live date.

This document also includes other technical changes that are foreseen for implementation at the same time as the Standards Release, for example, changes to system messages.

The sole purpose of this document is to help technical implementers and operational users of the SWIFT messages to evaluate the impact of changes on interfaces and applications. Consequently, implementers and users can plan resources and budget allocations for the SR 2016 implementation.

As this document describes requests that are not yet validated, a certain number of them will not be implemented or will be implemented differently following the validation process. Readers must therefore use this document for budget and resources planning purposes only.

The Standards Release Guide 2016, which SWIFT will publish in December 2015, will fully describe the SR 2016. Approved changes will be effective as of 20 November 2016, the release date on FIN.

Note: This publication is supplied for information purposes only, and shall not be binding nor shall it be construed as constituting any obligation, representation or warranty on the part of SWIFT. The information in this publication is the latest available at the date of its production, and may change.

Schedule for SR 2016

17 July 2015 5

2 Schedule for SR 2016 The timeline below describes the schedule for development and implementation of SR 2016.

SR 2016 Timeline

Note: The High-Level Information document, which SWIFT publishes in July, will be removed from the website once the Updated High-Level Information document is published in November.

Note: The Updated High-Level Information document provides details of the changes that are approved by the country voting process.



3 Impact 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 +/- sign as in the following table.

Index of impact levels

Level 0 This is a minor change that does not impact the format of the message. For example, the scope of the message is updated, which may have an impact on some automated applications.

Level 1 This change relates to the use of the message format but does not affect the message structure or the FIN validation, for example, a definition or a usage rule is changed.

Level 1+ An existing message type is removed from the network

Level 2- The change has a small effect on the message structure and the FIN validation, for example, field formats, qualifiers or codes are added or deleted.

Level 2+ The message layout or the FIN validation or both are significantly impacted, for example, optional fields or sequences are added or deleted.

Level 3- A new message type is created for use in a message user group (MUG) or the use of an existing message type is changed from use in a MUG to general use, that is, all users must be able to receive and process the new message.

Level 3 A new message type is created for general use, that is, all users must be able to receive and process the new message.

Evaluation of the Impact on Interfaces and Applications

17 July 2015 7

4 Evaluation of the Impact on Interfaces and Applications

Impact on interfaces

All changes can have a direct impact on interfaces. This also applies to level 0 and level 1 changes, which may require an update to input screens or help screens or both.

Impact on applications

Level 0 changes should have no to minimum impact on applications.

Higher level changes will normally have an impact on applications, although the impact for applications sending the message may be different from the impact for applications receiving the message.

Some changes may apply to message types that are to be implemented in a Message User Group (MUG). Users that are not registered in the MUG cannot send or receive messages of these message types. The impact on any application depends directly on the need or desire to support these message types.



5 Overview of Changes per Category 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. Changes that were modified for implementation last year are indicated in blue font.

5.1 Category 0 FIN System Messages The following changes are tentatively scheduled for implementation with SR 2016.

Change request postponed from SR 2015 Message

Types (MT)

Short description of the modification Impact level MUG

MT 066 MT 082 MT 083

CR 000917 2+ Yes

Add a report generation date and time field.

To be used when field 301 is CS and will indicate the date and time local to the receiver.

New change request for SR 2016 Message

Types (MT)


MT 097 CR 001066 2- NA

New tag 165 is added to header block 3 and to MT 097.

To be able to identify a message that is a FINInform message with authorisation.

Overview of Changes per Category

17 July 2015 9

5.2 Other Technical Changes The following change is tentatively scheduled for implementation with SR 2016.


Types (MT)


Header Block 3

CR 001066 2- NA

New tag 165 is added to header block 3 and to MT 097.

To be able to identify a message that is a FINInform message with authorisation.



5.3 Category 1 Customer Payments and Cheques The following changes are tentatively scheduled for implementation with SR 2016.

New change requests for SR 2016 Message

Types (MT)


Cat 1 CR 001009 2+ NA

Add a field to identify the purpose of the payment.

To facilitate compliance with local regulations in various countries where it is necessary to include purpose codes in payments instructions.

Cat 1 CR 001004 2+ NA

Add new fields to identify ultimate creditor and ultimate debtor in Payments messages.

To improve traceability of payments and to comply with new and pending regulations.

Cat 1 CR 001002 2+ NA

Add the C letter option consistently to party fields to align across all Payments messages.

To be able to provide only a clearing code to identify financial institution parties.

MT 101 MT 103

CR 001005 2+ Yes Except MT 103



MT 103 MT 110

CR 001003 2+ No

Apply additional validation on IBANs that are present in Payments messages.

To protect financial institutions from receiving invalid IBANs in messages.

MT 103 MT 103 STP

CR 001011 2- No

Make field 26T mandatory to identify the purpose of a payment and provide a list of codes that must be used in the field.



17 July 2015 11

Message Types (MT)


MT 103 MT 103 STP

CR 001010 2- No

Make field 77B mandatory.

To increase STP on payments where it is mandatory to identify the country of the ordering and/or beneficiary customers.

MT 102 MT 102 STP MT 103 MT 103 REMIT MT 103 STP

CR 001006 1 No Except MT 102 MT 103 REMIT

Add a usage rule to field 71F.

To clarify that all parties that take charges must be indicated in multiple occurrences of this field and in the order in which the charges were deducted.

Cat 1 CR 001007 0 NA

Delay the date for the proposed removal of the free format options from fields 50a and 59a.

To allow the community to prepare for this change and to wait for a regulation that mandates it.



5.4 Category 2 Financial Institution Transfers The following changes are tentatively scheduled for implementation with SR 2016.


Types (MT)


Cat 2 CR 001009 2+ NA



Cat 2 CR 001002 2+ NA

Add the C letter option consistently to party fields to align across all Payments messages.

To be able to provide only a clearing code to identify financial institution parties.

MT 200 MT 202 MT 210

CR 001005 2+ No



MT 200 MT 202 MT 210

CR 001003 2+ No

Apply additional validation on IBANs that are present in Payments messages.

To protect financial institutions from receiving invalid IBANs in messages.

MT 202 COV

CR 001004 2+ No

Add new fields to identify ultimate creditor and ultimate debtor in Payments messages.

To improve traceability of payments and to comply with new and pending regulations.

Cat 2 CR 001007 0 NA




17 July 2015 13

5.5 Category 3 Foreign Exchange, Money Markets, and Derivatives

The following changes are tentatively scheduled for implementation with SR 2016.


Types (MT)


MT 300 CR 000969 2+ No

Add confirmation and clearing timestamps in order to align with MT 304 and thereby allow additional reporting data to be carried when required.

These additional reporting data fields will enhance the ability to use the messages to carry regulatory reporting information between entities such as SEFs, custodians and FCMs.

MT 300 CR 000964 2+ No

Add structured fields for support of non-deliverable forward (NDF) opening 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 field, which has led to manual processing and errors. This CR replaces these codes with specific structured and validated fields.

MT 300 MT 304

CR 000971 2+ Yes Except MT 300

Add fields for commission and feeds to sequence E, in MT 300 and sequence D, in MT 304.

To enable FX messages to support new constructs that will result from move of derivative instruments, such as the NDF, to central clearing.

MT 304 CR 000970 2+ Yes

Add reporting jurisdiction to UTI subsequence, to align it with MT 300 and allow multiple UTIs to be carried for different jurisdictions.

An investment manager may need to inform its custodian about more than one UTI for a derivative trade that is subject to reporting requirements under different jurisdictions.

MT 304 CR 000965 2+ Yes

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.



Message Types (MT)


MT 305 CR 000966 2+ No

Add structured fields for support of non-deliverable option (NDO) confirmation messages. Retire use of NDO codes in field 72, in sequence A.

Non-deliverable vanilla option trades have, until now, been confirmed 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.

Cat 3 CR 001020 2- NA

Increase length of UTI namespace component to allow three extra prefix characters, as required by ESMA.

ESMA guidance issued in 2014 requires a three charatecr prefix to the UTI, which describes how the UTI is constructed.

MT 300 MT 304 MT 305 MT 306 MT 340 MT 341 MT 360 MT 361

CR 000967 2- No Except MT 304

NAK messages that include code /UTI/ or code /PUTI/ in field 72.

As part of SR 2013, structured UTI fields were added to a range of category 3 and category 6 messages, to replace prior use of UTI codes in free format fields. In order to force all organisations to use the structured fields, it is proposed to NAK messages that include UTI codes in free format fields.

MT 306 CR 000962 2- No

Improve network validation and description and contents of certain fields in new, early-termination sequence.

This message was extended in SR 2015 to support options with early termination conditions. During implementation it became apparent that some further, minor enhancements are required in order to properly meet industry requirements.

MT 306 CR 000961 2- No

Improve network validation and description and contents of certain fields in new, averaging options and forwards sequence.

This message was extended in SR 2015 to support averaging options and forwards. During implementation it became apparent that some further, minor enhancements are required in order to properly meet industry requirements.

MT 350 MT 360 MT 361 MT 362 MT 364 MT 365

CR 000968 2- No

Ensure that all interest rate fields in category 3 messages can support negative rates.

Negative interest rates have become a reality over recent years and must therefore be supported, as required.


17 July 2015 15

Message Types (MT)


MT 360 MT 361 MT 364 MT 365

CR 000963 2- No

Update rate fields in interest-rate swap messages.

As negative interest rates have become a reality, it has become necessary to ensure that SWIFT messages support negative rates as required.



5.6 Category 4 Collections and Cash Letters There are no category 4 changes requested for implementation with SR 2016.


17 July 2015 17

5.7 Category 5 Securities Markets The following changes are tentatively scheduled for implementation with SR 2016.

5.7.1 All category 5 messages modification New change requests for SR 2016

Message Types (MT)


Cat 5 CR 000987 2+ NA

Add an optional negative sign to the A letter option in field 90a.

To be able to indicate a negative amount when price is expressed as a yield.

Cat 5 CR 000986 2- NA

Add the ISO standard Financial Instrument Short Name (FISN) to field 35B in all messages where this is applicable.

To be able to provide the FISN in combination with the ISIN.

cat 5 CR 000975 1 NA

Update definition of code SOFF in qualifier CAEV, in field 22F.

To open the use of SOFF to the distribution of shares of an existing third party company.

Cat 5 CR 000974 1 NA

Update the name and definition of code PCAL in qualifier CAEV, in field 22F.

To adapt the name and definition of the partial redemption event to the recent use of that event for bonds redeemed before their final scheduled maturity without reduction of the nominal value.

Cat 5 CR 000973 1 NA

Update the definition of qualifier INTR Interest Rate in field 92a.

To open the use of the rate INTR to a nominal annual rate of a variable interest bearing instrument.

Cat 5 CR 000972 1 NA

Update definition of code BONU in qualifier CAEV, in field 22F.

To remove the ambiguity in the definition of the Bonus/Capitalisation Issue.

Cat 5 CR 000988 0 NA

Add the LEI format to fields 94a and 95a.

To be able to provide an LEI in these fields.



5.7.2 Trade Initiation and Confirmation MTs 502, 509, 513, 514, 515, 517, 518, 528, 529, 576, 584 (alignment in other messages possible)


Types (MT)


MT 518 CR 000987 2+ No

Add an optional negative sign to the A letter option in field 90a.

To be able to indicate a negative amount when price is expressed as a yield.

5.7.3 Settlement and Reconciliation MTs 508, 524, 535-8, 540-9, 578, 586 (alignment in other messages possible)


Types (MT)


MT 537 MT 548

CR 000989 2- No

Add 2 new reason codes to qualifier NMAT in field 24B, in subsequence A2a.

To be able to report unmatched reason codes.

MT 540 MT 541 MT 542 MT 543 MT 544 MT 545 MT 546 MT 547 MT 548

CR 000991 2- No

Add a code to qualifier STCO in field 22F, in sequence E.

To be able to indicate that the security transaction is for custody only and no fund accounting processing is required.

MT 540 MT 541 MT 542 MT 543 MT 544 MT 545 MT 546 MT 547 MT 548

CR 000990 2- No

Add 2 codes to qualifier REPT in field 22F, in sequence E.

To be able to differentiate an increase or decrease of collateral from a flat/even collateral pair within a repo rollover.


17 July 2015 19

5.7.4 Corporate Action MTs 564, 565, 566, 567, 568 (alignment in other messages possible)

Change requests postponed from SR 2015 Message

Types (MT)


MT 564 CR 000778 2- No

Make qualifier DIVI Dividend Type Indicator repeatable in field 22F, in sequence D.

To make it possible to mention more than one non-mutually-exclusive type of dividend.

The MWG agreed to add a new code SPRE in field :22F::DIVI Dividend Type Indicator.

MT 564 CR 000776 2- No

Add a subsequence with new, mandatory, non-repeatable qualifier BORD Stock Lending Deadline in field 98a and with new, mandatory, non-repeatable qualifier BORW Borrower in field 95a. Delete optional qualifier BORD Stock Lending Deadline Date/Time from field 98a, in sequence E.

To enable the custodians to provide one stock lending deadline per borrower, when there is more than one borrower.

The MWG agreed to make the qualifier BORD Stock Lending Deadline Date/Time repeatable in field :98a: Date/Time, in sequence E and to create two new format options, G and H, in the same field in order to associate a date and time with a party either as a BIC or as a proprietary identification

MT 564 CR 000775 2- No

Add optional, non-repetitive qualifier BPRD Buyer Protection Response Deadline to field 98a, in sequence D.

To enable the account servicers/CSDs to provide a client response deadline prior to the buyer protection deadline.

The MWG agreed to add an optional, non-repeatable qualifier ECRD Election To Counterparty Response Deadline to field :98a::Date/Time in sequence D and to rename the existing element "Election to Counterparty Deadline" to "Election to Counterparty Market Deadline".

MT 564 CR 000771 2- No

Add code REAC Required Action to qualifier ADDB Additional Business Process Indicator to field 22F, in sequence D. Add optional, non-repetitive qualifier APLI Applied Option Flag to field 17B, in sequence E.

To enable an account owner to distinguish between common mandatory events (MAND) and mandatory events that require an action from the account owner, in order to receive the entitlement/proceeds.



Message Types (MT)


MT 564 MT 565 MT 566 MT 568

CR 000772 2- No

Add optional, repetitive qualifier CETI Certification/Breakdown narrative to field 70E in sequence F in MT 564. Add optional, repetitive qualifier CETI Certification/Breakdown narrative and qualifier TXNR Narrative Version in field 70a in sequence C in MT 568.

To harmonise the presence of the "certification/breakdown" and "narrative version" narrative qualifiers between the corporate action notification and the narrative messages.

MT 564 MT 566

CR 000920 2- No

(Previously CR 000777) Add the new codes MPUT Mandatory Put Redemption and PPUT Partial Mandatory Put Redemption to qualifier CAEV Corporate Action Event Indicator in field 22F, in sequence A.

To be able to distinguish the three put redemption scenarios that exist in the US, while only one put redemption event BPUT is present in the messages.

The MWG agreed to create one new code, PPUT, in Additional Business Process Indicator :22F::ADDB in sequence D of MT 564 and in sequence C of MT 566.

MT 564 MT 566

CR 000780 2- No

Add two indicator codes NREF Non-Refunded Security and REFU Refunded Security to qualifier NSIS New Securities Issuance Indicator in field 22F, in sequence E1 of MT 564 and in sequence D1 of MT 566.

To be able to differentiate between the refunded and non-refunded securities for partial pre-refunding (PDEF) events.

MT 564 MT 566

CR 000779 2- No

Add codes FPRE Full Pre-Refunding and PPRE Partial Pre-Refunding to qualifier CAEV Corporate Action Event Indicator in field 22F, in sequence A. Amend the definition of indicator code PDEF in qualifier CAEV Corporate Action Event Indicator in field 22F Indicator, in sequence A General Information.

To be able to distinguish between the three different partial defeasance/pre-funding scenarios in the US market. Currently there is a single event type covering those three scenarios in the messages.

The MWG agreed to create two new codes, FPRE and PPRE, in Additional Business Process Indicator :22F::ADDB, in sequence D of MT 564 and in sequence C of MT 566.


17 July 2015 21

Message Types (MT)


MT 566 CR 000770 2- No

Add format option M to qualifiers SOFE Solicitation Fee Rate and ESOF Early Solicitation Fee Rate in field 92a, in sequence D2.

To have consistent format options for solicitation fee and early solicitation fee rates between the corporate action notification and the corporate action confirmation messages.


Types (MT)


MT 564 CR 000985 2+ No

Add optional and non-repetitive qualifier SPRD Fixed Rate Spread to field 90a in sequence D. Update the definition of percentage type code YIEL in field 90A, in sequence D. Add optional and non-repetitive qualifier RSEC Referenced Security Type Indicator to field 22a, in sequence D. Add optional and non-repetitive qualifier 35B to sequence D. Add optional and non-repetitive qualifier PRDT Price fixation Date/Time to field 98a, in sequence E.

To be able to automate fixed rate spread repurchase events in the US.

MT 564 MT 565 MT 566

CR 000979 2+ No

Delete qualifier DECL from field 70E, in sequence F of MT 564. Delete field 70E from sequence C of MT 566. Delete qualifier PACO and add optional and repetitive qualifier TAXE Taxation Conditions to field 70E, in sequence D1b of MT 566. Add optional and repetitive qualifier TAXE Taxation Conditions to field 70E, in sequence D2a of MT 566. Delete qualifiers TXNR, INCO, COMP, TAXE, DECL, REGI, BAIN from field 70E, in sequence E of MT 566. Delete qualifier DECL and add optional and non-repetitive qualifier CETI to sequence C of MT 565. Delete field 70E Narrative from sequence D of MT 565. Delete qualifiers ADTX, TXNR, DISC, BAIN and add optional and repetitive qualifiers COMP, DVLR, FXIN, INST to sequence E of MT 565.

To harmonise and rationalise the use of narratives across the corporate action messages.



Message Types (MT)


MT 564 MT 565 MT 566 MT 567

CR 000982 2+ No

Update the definition of qualifier TAXR in field 92a, in sequence E of MT 564 and in sequence D of MT 566. Add format option F to qualifier TAXR in field 92a, in sequence E of MT 564 and to sequence D of MT 566. Add optional and repetitive qualifier WITL to field 92a, in sequence E of MT 564 and in sequence D of MT 566. Delete qualifier WITF and TAXE from field 92a, in sequence E of MT 564 and in sequence D of MT 566. Add new NVR to enforce presence of qualifier TAXR if qualifier WITL is used in field 92a, in sequence E of MT 564 and in sequence D of MT 566. Update NVR rule C9 in MT 564 and NVR rule C4 in MT 566. Delete NVR rule C6 from MT 564 and NVR rule C7 from MT 566. Add new NVR rule to MT 564 and MT 566. Update the definition of qualifier TAXR in field 92a, in sequence E2 of MT 564 and in sequence D2 of MT 566. Add format option F to qualifier TAXR in field 92a, in sequence E2 of MT 564 and in sequence D2 of MT 566. Update definition and name of qualifier WITL in field 92a, in sequence E2 of MT 564 and in sequence D2 of MT 566. Delete qualifier WITF and TAXE from field 92a, in sequence E2 of MT 564 and from sequence D2 of MT 566. Add new NVR to enforce presence of qualifier TAXR if qualifier WITL is used in field 92a, in sequence E2 of MT 564 and in sequence D2 of MT 566. Update the definition of qualifier TAXR in field 19B, in sequence E2 of MT 564 and in sequence D2 of MT 566. Update definition and name of qualifier WITL in field 19B, in sequence E2 of MT 564 and in sequence D2 of MT 566. Delete qualifier WITF and TAXE from field 19B, in sequence E2 of MT 564 and in sequence D2 of MT 566. Add new optional and repetitive qualifier TAXR Requested Withholding Tax Rate to field 92a, in sequence B of MT 565. Delete qualifier WITF from field 92a, in sequence B of MT 565. Update definition and name of qualifier WITL in field 92a, in sequence B of MT 565. Update the definition of qualifier TAXR in field 19B, in sequence B of MT 567. Update definition and name of qualifier WITL in field 19B, in sequence B of MT 567. Delete qualifier WITF from field 19B, in sequence B of MT 567. Add new optional field 94C with unique optional non repetitive qualifier COIN Country Of Income Source to sequence E2 of MT 564 and to sequence D2 of MT 566. Add new optional non repetitive qualifier COIN Country Of Income Source to field 94a, in sequence E1 of MT 564 and in sequence D1 of MT 566.

Harmonise withholding tax rates and their use in Corporate Action messages and also enable specification of country of source of income for dividend events.


17 July 2015 23

Message Types (MT)


MT 564 MT 565 MT 566 MT 567

CR 000981 2- No

Delete the codes QREC Quantity To Receive and QOVE Over And Above in qualifier OPTF from field 22F, in sequence E of MT 564 and in sequence D of MT 566. Update the definition of qualifier QINS in field 36a, in sequence D of MT 565. Delete the qualifiers QREC and QOVE from field 36a in sequence D of MT 565 and update network validated rule C4 in MT 565. Delete the qualifier QREC from field 36B in sequence B of MT 567 and update network validated rule C3 in MT 567.

To simplify the implementation of the oversubscription process.

MT 564 MT 566

CR 000984 2- No

Add optional and non-repetitive qualifier ITYP Type Of Income to field 22a, in sequence E1 of MT 564 and in sequence D1 of MT 566. Add optional and repetitive qualifier ETYP Type Of Exemption to field 22a in sequence E1 in MT 564 and in sequence D1 in MT 566.

To enable the specification of income types and income exemption types for securities proceeds, as it is done for cash proceeds.

MT 564 MT 566

CR 000983 2- No

Add new code 302E to qualifier TXAP in field 22H, in subsequences E1 and E2 of MT 564 and in subsequences D1 and D2 of MT 566.

To advise that a corporate action is subject to US section 302 taxation.

MT 564 MT 566

CR 000976 2- No

Add an optional subfield Rate Status to field 92F with codes ACTU, INDI and PROV Provisional restricted to the use of qualifiers GRSS, NETT and INTP in sequence E and in subsequence E1 of MT 564 and in sequence D and subsequence D2 of MT 566. Add new network validated rule to field 92F to prevent the use of subfield Rate Status in sequence D and subsequence E1 of MT 564, in sequence C and subsequence D1 of MT 566, in sequence D of MT 565.

To remove the potential confusion in the use of the dividend rates when preliminary or provisional.

MT 564 MT 568

CR 000978 2- No

Add new format option H to field 70a Narrative and add this format option H to all narrative qualifiers in sequences E and F of MT 564. Add new format option H and J to field 70a and add this format option H and J to all narrative qualifiers in sequence C of MT 568.

To enable the provision of an update date and description for narratives, as already enabled in ISO 20022 Corporate Action messages.



Message Types (MT)


MT 564 MT 565 MT 566 MT 568

CR 000977 1 No

Update the name and definition of qualifier MINO Minimum Nominal Quantity in field 36B, in subsequences B1 and E1a of MT 564, in subsequence B1 of MT 565, in subsequences B1 and D1a of MT 566, in subsequence B1 of MT 568. Update the definition of qualifier MIEX in field 36B, in subsequences B1 and E1a and sequences D and E of MT 564, in subsequence B1 of MT 565, in subsequences B1 and D1a of MT 566, in subsequence B1 of MT 568. Update the definition of qualifier MILT in field 36B, in subsequences B1 and E1a and sequences D and E of MT 564, in subsequence B1 of MT 565, in subsequences B1 and D1a of MT566, in subsequence B1 of MT 568. Update the definition of qualifier MAEX in field 36B, in sequence E of MT 564.

To harmonise definitions of those quantities across the corporate action messages to avoid any confusion in their use.

5.7.5 Collateral Management MTs 503-507, 527, 558, 569 (alignment in other messages possible)

Change requests postponed from SR 2015 Message

Types (MT)


MT 527 MT 558

CR 000808 2+ Yes

Add qualifier CLPB to field 95a in subsequence A1.

To identify the client's party B in the collateral transaction.

MT 527 MT 558

CR 000805 2+ Yes

Add format option C to qualifier VSMR in field 92a, in sequence B Deal Transaction Details such that a data source scheme and standard haircut code can be used.

To allow users to request a standard haircut profile rather than a percentage rate.

MT 558 CR 000804 2+ Yes

Add a new qualifier for Transaction Amount Matching Tolerance to field 19A in sequence B.

To indicate a possible variation between the initial requested amount and the matched amount.


17 July 2015 25

Message Types (MT)


MT 558 CR 000803 2+ Yes

Add a new field "Type of Position Flag".

To be able to report the settlement status of cash pieces.

MT 558 CR 000802 2+ Yes

Add a new field "Settlement Approved Flag".

To be able to identify if the proposed collateral movements have been settled or not.

MT 558 MT 569

CR 000810 2+ Yes

Add a qualifier for accrued interest to field 19A, in sequence A and add a qualifier for sender's reference to field 20C in sequence C and in sequence D.

To identify the sender's movement (both cash and stock) and the sender transaction.

The group agreed on the principal and requested an update to the definition of the qualifiers TRCI and TSMV in the MT 558 and MT 569. The addition of a new qualifier was rejected.

There are no new change requests for SR 2016



5.7.6 Other Category 5 changes New change request for SR 2016

Message Types (MT)


MT 574 IRSLTS

CR 000982 2+ No

Update the definition of qualifier TAXR in field 92a, in sequence E of MT 564 and in sequence D of MT 566. Add format option F to qualifier TAXR in field 92a, in sequence E of MT 564 and to sequence D of MT 566. Add optional and repetitive qualifier WITL to field 92a, in sequence E of MT 564 and in sequence D of MT 566. Delete qualifier WITF and TAXE from field 92a, in sequence E of MT 564 and in sequence D of MT 566. Add new NVR to enforce presence of qualifier TAXR if qualifier WITL is used in field 92a, in sequence E of MT 564 and in sequence D of MT 566. Update NVR rule C9 in MT 564 and NVR rule C4 in MT 566. Delete NVR rule C6 from MT 564 and NVR rule C7 from MT 566. Add new NVR rule to MT 564 and MT 566. Update the definition of qualifier TAXR in field 92a, in sequence E2 of MT 564 and in sequence D2 of MT 566. Add format option F to qualifier TAXR in field 92a, in sequence E2 of MT 564 and in sequence D2 of MT 566. Update definition and name of qualifier WITL in field 92a, in sequence E2 of MT 564 and in sequence D2 of MT 566. Delete qualifier WITF and TAXE from field 92a, in sequence E2 of MT 564 and from sequence D2 of MT 566. Add new NVR to enforce presence of qualifier TAXR if qualifier WITL is used in field 92a, in sequence E2 of MT 564 and in sequence D2 of MT 566. Update the definition of qualifier TAXR in field 19B, in sequence E2 of MT 564 and in sequence D2 of MT 566. Update definition and name of qualifier WITL in field 19B, in sequence E2 of MT 564 and in sequence D2 of MT 566. Delete qualifier WITF and TAXE from field 19B, in sequence E2 of MT 564 and in sequence D2 of MT 566. Add new optional and repetitive qualifier TAXR Requested Withholding Tax Rate to field 92a, in sequence B of MT 565. Delete qualifier WITF from field 92a, in sequence B of MT 565. Update definition and name of qualifier WITL in field 92a, in sequence B of MT 565. Update the definition of qualifier TAXR in field 19B, in sequence B of MT 567. Update definition and name of qualifier WITL in field 19B, in sequence B of MT 567. Delete qualifier WITF from field 19B, in sequence B of MT 567. Add new optional field 94C with unique optional non repetitive qualifier COIN Country Of Income Source to sequence E2 of MT 564 and to sequence D2 of MT 566. Add new optional non repetitive qualifier COIN Country Of Income Source to field 94a, in sequence E1 of MT 564 and in sequence D1 of MT 566.

Harmonise withholding tax rates and their use in Corporate Action messages and also enable specification of country of source of income for dividend events.


17 July 2015 27

5.8 Category 6 Commodities, Syndications, and Reference Data



Types (MT)


MT 600 MT 601

CR 001020 2- No

Increase length of UTI namespace component to allow three extra prefix characters, as required by ESMA.

ESMA guidance issued in 2014 requires a three character prefix to the UTI, which describes how the UTI is constructed.

MT 600 MT 601

CR 000967 2- No

NAK messages that include code /UTI/ or code /PUTI/ in field 72.

As part of SR 2013, structured UTI fields were added to a range of category 3 and category 6 messages, to replace prior use of UTI codes in free format fields. In order to force all organisations to use the structured fields, it is proposed to NAK messages that include UTI codes in free format fields.

MT 670 MT 671

CR 000996 2- No

Add validation in order to ensure that correct party codes are present for an SSI update.

Ensure that SSI updates are well formed and thereby avoid manual processing.

MT 601 CR 000995 1 No

Add content validation to Manual/Automatic Indicator subfield in field 23.

Field 23 in the MT 601 is not currently content validated, which has allowed incorrect usage and a break in STP.

MT 601 CR 000994 1 No

Remove validation rule C3 which mandates that the option premium currency must be the same as the strike price currency, as this is not always the case.

Remove assumption from commodity option confirmation that the premium currency is the same as the strike price currency, as this is not always the case.



5.9 Category 7 Documentary Credits and Guarantees



Types (MT)


MT 742 CR 000998 2+ No

Add an optional field in MT 742 for compliance requirements.

It is needed for compliance (type of goods, vessel, bill of lading, shipping company, etc.).

MT 760 CR 000997 2+ No

Add a new field in MT 760 for the counter-guarantee rules.

Only one field is present in the MT for the undertaking rules. There is no field for counter-undertaking rules in case they are different.


17 July 2015 29

5.10 Category 8 Travellers Cheques There are no category 8 changes requested for implementation with SR 2016.



5.11 Category 9 Cash Management and Customer Status



Types (MT)


MT 900 MT 910 MT 920 MT 940 MT 941 MT 942

CR 000999 2+ No

Add a subfield for a BIC to the account identification field in corporate reporting messages.

To be able to easily identify a corporate account owner and to easily route the message accordingly.

MT 910 CR 001000 2+ No

Remove the network validated rule that prevents the use of both fields 50a and 52a in the MT 910.

To meet the increased demand for more detail about all parties involved in a credit transfer.

MT 935 CR 001001 2- No

Update the format of field 35H to cater for negative amounts.

To be able to comply with new market requirements for negative interest rates.

Cat 9 CR 001007 0 NA




17 July 2015 31

5.12 Category n Common Group Messages The following change is tentatively scheduled for implementation with SR 2016.


Types (MT)


MT n95 MT n96 MT n99

CR 001008 2+ No

Create prioritisation codes in query and answer messages.

To be able to easily identify and route query and answer messages related to sanctions screening results, compliance-related matters, and suspicion of fraud.



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