Standards Release Guide 2010 and Message Format Validation Rules 2010
The Standards Release Guide 2010 (SRG 2010) and the Message Format Validation Rules (MFVR 2010) describe the changes to the Standards MTs effective as of 20 November 2010, the scheduled release date on FIN.
Please see the note on the Standards MT Release 2010 page on swift.com and download the Advance Information for SR 2011 document, which contains important information about two new messages that will be introduced in SR 2011.
The main highlights of the SRG 2010 include the following changes:
- Categories 1, 2, 9, and n (Common Group):
- The scopes of some messages have been updated to cater for corporate usage of these messages but this has no implementation impact.
- Category 3:
- Deletion of unused MT 308
- MT 321, addition of one sequence to specify more parties in the chain of the trade
- MT 340, addition of 2 codes in field 77H to specify new types of Master Agreements
- Category 4
- No changes to these messages
- Category 5:
- The category 5 changes occur mainly in the Corporate Action area and affect the MT 564, 565, 566, 567 and 568 messages. They consist of the deletion of qualifiers and codes that are present in multiple sequences. This was done in compliance with the D vs E analysis performed by the Securities Market Practice Group. It also led to the adaptation of some network validation rules.
- In other cat 5 messages, mostly Settlement & Reconciliation as well as Triparty Collateral Management, new optional codes, qualifiers and sequences are added to cover business needs mostly coming from Market Infrastructures.
- Following a message usage analysis performed in 2008 and 2009, some unused qualifiers, codes and formats have been removed.
- Category 6:
- MT 600, 601, 604-9 and 620, change of scope from Metals messages to Commodities messages
- MT 600, 601, 604-9 and 620, addition of new commodities to the scope, required units for new commodities, new delivery details and new denomination code
- MT 600, addition of fields to indicate the terms and conditions under which a trade was concluded
- MT601, addition of new option type and removal of Network Validated Rule to allow flexibility when quoting agreement details
- MT605, add field for Instructing Party’s Intermediary
- MT620, add Identification of the Commodity field and allow for different currencies for the interest and principal amounts
- Deletion of unused MT 645
- Category 7:
- MT 707, the maximum number of repetitions of field 79 is now validated on the network
- Category 8
- Deletion of unused MT 810, 812, 813, 820, 821, 822, 823
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SRG 2010 and MFVR 2010
Access the SRG 2010 and MFVR 2010.
Should you need further clarifications, do not hesitate to contact your Customer Support Centre.