You are on page 1of 42

Standards

Standards MT November 2015

Updated High-Level Information
This document is an updated version of the High-Level Information document that was published on www.swift.com
on 29 August 2014. All the expected or requested changes described in that document were validated by a
maintenance working group and were either approved or rejected. Country user groups voted on the approved
requests and the Board must ratify those that were accepted. This document describes the outcome of the
maintenance working groups and the results of the country voting. It 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.

21 November 2014

Standards MT November 2015

Table of Contents
Table of Contents ...............................................................................................................................2
Preface .................................................................................................................................................3
1

Introduction ...............................................................................................................................4

2

Schedule for SR 2015 ...............................................................................................................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
5.2
5.3
5.4
5.5
5.6
5.7

Impact on Category 0 FIN System Messages ........................................................................8
Other Technical Changes .......................................................................................................9
Impact on Category 1 Customer Payments and Cheques ...................................................10
Impact on Category 2 Financial Institution Transfers ...........................................................12
Impact on Category 3 Treasury Markets...............................................................................14
Impact on Category 4 Collections and Cash Letters ............................................................17
Impact on Category 5 Securities Markets .............................................................................18
5.7.1 Trade Initiation and Confirmation ..................................................................................... 18
5.7.2 Settlement and Reconciliation .......................................................................................... 18
5.7.3 Corporate Action............................................................................................................... 19
5.7.4 Collateral Management .................................................................................................... 19
5.7.5 Other Category 5 Changes ............................................................................................... 20
5.8 Impact on Category 6 Treasury Markets-Commodities and Syndications ............................21
5.9 Impact on Category 7 Documentary Credits and Guarantees ..............................................22
5.10 Impact on Category 8 Travellers Cheques ...........................................................................23
5.11 Impact on Category 9 Cash Management and Customer Status .........................................24
5.12 Impact on Category n Common Group Messages ...............................................................26

6

Change Requests Postponed to a Later Standards Release ............................................27

7

Rejected and Withdrawn Change Requests ........................................................................36

Legal Notices ....................................................................................................................................42

2

Updated High-Level Information

Preface

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 provide the SWIFT
community with an update to the initial high-level information that was published in August 2014.
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. After the MWG review of the change requests, user
group chairpersons of all countries were invited to discuss the change requests in their user
group and to 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

21 November 2014

3

Standards MT November 2015

1

Introduction
Warning This document describes changes that have been validated by a maintenance
working group and approved by Board business committees. The changes have been
accepted by country user group votes and the Board will ratify the voting results at its
December 2014 meeting.
The Updated 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 2015 (SR 2015). SWIFT distributes this document 12 months before the
standards 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
2015 implementation.
As a guide for implementers, a note has been added to each change request to indicate whether
a change is mandatory or optional. Each institution must assess their own applications and
business needs when implementing these changes.
The Standards MT Release Guide 2015, which SWIFT will publish in December 2014, will fully
describe the SR 2015. Approved changes will be effective as of 22 November 2015, the release
date on FIN.
Note

4

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.

Updated High-Level Information

Schedule for SR 2015 2 Schedule for SR 2015 This timeline describes the schedule for development and implementation of SR 2015. 5 . SR 2015 Timeline Note 21 November 2014 This publication provides details of the changes that are approved by the country voting process. While this provides a good overview of all the expected changes for the next release. the only official source for information about a standards release is the Standards Release Guide that is published in December.

Standards MT November 2015 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 . which may have an impact on some automated applications. the scope of the message is updated. all users must be able to receive and process the new message. a definition or a usage rule is changed. For example. 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. Index of impact levels 6 Level 0 This is a minor change that does not impact the format of the message. for example. that is.3] with or without a plus (+) or minus (-) sign as in the following table. all users must be able to receive and process the new message. 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. 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. qualifiers or codes are added or deleted. Level 2+ The message layout or the FIN validation or both are significantly impacted. Updated High-Level Information . field formats. that is. Level 3 A new message type is created for general use.

21 November 2014 7 . This also applies to level 0 and level 1 changes. The impact on any application depends directly on the need or desire to support these message types. Higher level changes will normally have an impact on applications. users can not send or receive message of this type. which may require an update to input screens or help screens or both.Evaluation of the Impact on Interfaces and Applications 4 Evaluation of the Impact on Interfaces and Applications Impact on interfaces All changes can have a direct impact on interfaces. Impact on applications Level 0 changes should have no to minimum impact on applications. In case of non-registration to the MUG. although the impact may be different for applications sending the message than for applications receiving the message. Some changes apply to message types (to be) implemented in a Message User Group (MUG).

To allow for the distribution of Securities SSIs. 8 Updated High-Level Information .1 Impact on Category 0 FIN System Messages The following changes are scheduled for implementation in SR 2015. As a guide for implementers. The change request numbers (CR 000nnn) are present to enable the submitters to easily track their requests. All users must be able to receive messages with the changes. to each change request to indicate whether a change is mandatory or optional for users that are sending the messages. at which the report is generated. local to the receiver. CR 000921 Add a code to the MT 074 and MT 094. To indicate the date and time. a brief business context is sometimes provided to help the readers better understand the reasoning behind the change. Changes that are implemented differently from the original request are indicated in a blue font.Standards MT November 2015 5 Overview of Changes per Category When a change description is not clear without further explanation. Message Types (MT) MT 066 MT 082 MT 083 MT 074 MT 094 Short description of the modification CR 000917 Impact level MUG 2- NA 2- NA Add a report generation date and time field. 5. a note has been added. in red.

Overview of Changes per Category 5.2 Other Technical Changes There are no changes for implementation in SR 2015. 21 November 2014 9 .

Updated High-Level Information . To increase consistency within the Payments messages. the MT 604 Commodity Transfer/Delivery Order. for example on country code. CR 000653 PART 1: Add letter option F to field 59a. To stop the misuse of Payments messages to settle commodities when specific category 6 messages are available for this purpose. All users must be able to receive and process Payments messages with this new letter option in field 59. remove the free format options from field 50a Ordering Customer and field 59a Beneficiary Customer. XAG (silver). To provide a structured implementation of name and address information and to facilitate filtering. The release date will be decided after the community has had time to do a full impact analysis. MT 101 MT 102 MT 102 STP MT 103 MT 103 REMIT MT 103 STP 10 CR 000758 Align the existing documentation for field 50F Ordering Customer with the published advanced information for field 59F Beneficiary Customer. PART 2: In a later release. Part 2 will be implemented in a later release. The impact will be high. in Payments messages. for regulatory reporting. regarding information that covers similar business functionality. Message Types (MT) MT 101 MT 102 MT 102 STP MT 103 MT 103 REMIT MT 103 STP MT 101 MT 102 MT 102 STP MT 103 MT 103 REMIT MT 103 STP Impact level Short description of the modification CR 000760 MUG 2+ Yes Except MT 102 STP MT 103 MT 103 STP 2+ Yes Except MT 102 STP MT 103 MT 103 STP 2- Yes Except MT 103 MT 103 STP MT 102 STP Add a network validated rule to prevent the use of commodities codes XAU (gold). Part 1 will be implemented in SR 2015. This change will only impact users that today misuse the Payments messages for the settlement of commodities. Only senders who wish to use the new features will be impacted but all users must be able to receive and to process messages that contain these changes. for example.Standards MT November 2015 5. Beneficiary Customer. XPD (palladium) and XPT (platinum) in currency fields and subfields.3 Impact on Category 1 Customer Payments and Cheques The following changes are scheduled for implementation in SR 2015.

IBAN is the only allowed account identification in Croatian Banks since 1st of June 2014. This change is optional but all users must be able to receive and to process messages with multiple occurrences of code INS in field 72. subfield Account. This request has no impact on users for SR 2015.Overview of Changes per Category Message Types (MT) MT 102 STP MT 103 STP Short description of the modification CR 000751 Impact level MUG 2- No 1 NA 1 No Except MT 101 MT 102 MT 103 REMIT MT 104 MT 107 1 Yes Except MT 103 Add country code HR (Croatia) to the network validated rule that validates the IBAN format and syntax validation in field 59a Beneficiary Customer. at the earliest. All banks in China must be able to receive and process messages received with this new clearing code. This change only impacts messages exchanged between the countries listed in the network validated rule. CR 000752 Add a usage rule and clarify the use of the code word INS. which is to remove the free format options from field 50a Ordering Customer and field 59a Beneficiary Customer. To allow banks time to analyse the full impact on back offices and on the business and to follow up on the finalisation of regulation regarding formatting of ordering customer and beneficiary customer in payments messages. to help meet requirements to indicate the complete end to end payment chain. It is linked to CR 000653 and the change will be implemented in a later release. To improve STP for the increasing number of RMB payments and to make sure that the MT messages can be easily mapped to CNAPS messages. MT 101 MT 102 MT 102 STP MT 103 MT 103 REMIT MT 103 STP MT 104 MT 107 MT 110 MT 111 MT 112 MT 103 MT 103 REMIT CR 000750 Add the Chinese CNAPS clearing code in existing lists of clearing codes. To improve STP for messages exchanged between European and Croatian banks. To ensure transparency and. Cat 1 CR 000759 Delay until SR 2018. in the event of a regulatory enquiry. This change will facilitate automation of Payments to China but it is not mandatory for senders to use this new code. 21 November 2014 11 . when there were multiple previous instructing institutions involved in earlier phases of the payment chain. the date of which is still to be determined. the implementation of PART 2 of CR 000653.

for regulatory reporting. for example on country code. Part 2 will be implemented in a later release. regarding information that covers similar business functionality. The impact will be high. XAG (silver). Part 1 will be implemented in SR 2015.4 Impact on Category 2 Financial Institution Transfers The following changes are scheduled for implementation in SR 2015. PART 2: In a later release. Only senders who wish to use the new features will be impacted but all users must be able to receive and to process messages that contain these changes.Standards MT November 2015 5. This change will only impact users that today misuse the Payments messages for the settlement of commodities. CR 000653 PART 1: Add letter option F to field 59a. To increase consistency within the Payments messages. XPD (palladium) and XPT (platinum) in currency fields and subfields. The release date will be decided after the community has had time to do a full impact analysis. To stop the misuse of Payments messages to settle commodities when specific category 6 messages are available for this purpose. MT 202 COV MT 205 COV MT 210 CR 000758 Align the existing documentation for field 50F Ordering Customer with the published advanced information for field 59F Beneficiary Customer. All users must be able to receive and process Payments messages with this new letter option in field 59. Message Types (MT) MT 200 MT 201 MT 202 MT 202 COV MT 203 MT 205 MT 205 COV MT 207 MT 210 MT 202 COV MT 205 COV Impact level Short description of the modification CR 000760 MUG 2+ No Except MT 207 2+ No 2- No Add a network validated rule to prevent the use of commodities codes XAU (gold). 12 Updated High-Level Information . remove the free format options from field 50a Ordering Customer and field 59a Beneficiary Customer. Beneficiary Customer. for example. the MT 604 Commodity Transfer/Delivery Order. To provide a structured implementation of name and address information and to facilitate filtering. in Payments messages.

This change will facilitate automation of Payments to China but it is not mandatory for senders to use this new code. which is to remove the free format options from field 50a Ordering Customer and field 59a Beneficiary Customer. To allow banks time to analyse the full impact on back offices and on the business and to follow up on the finalisation of regulation regarding formatting of ordering customer and beneficiary customer in payments messages. It is linked to CR 000653 and the change will be implemented in a later release. All banks in China must be able to receive and process messages received with this new clearing code. at the earliest. To ensure transparency and. the implementation of PART 2 of CR 000653. CR 000752 Add a usage rule and clarify the use of the code word INS. to help meet requirements to indicate the complete end to end payment chain. 21 November 2014 13 . when there were multiple previous instructing institutions involved in earlier phases of the payment chain. To improve STP for the increasing number of RMB payments and to make sure that the MT messages can be easily mapped to CNAPS messages. MT 200 MT 201 MT 202 MT 202 COV MT 203 MT 204 MT 205 MT 205 COV MT 207 MT 210 MT 256 MT 202 MT 202 COV MT 203 MT 205 MT 205 COV CR 000750 Add the Chinese CNAPS clearing code in existing lists of clearing codes. This change is optional but all users must be able to receive and to process messages with multiple occurrences of code INS in field 72. in the event of a regulatory enquiry. This request has no impact on users for SR 2015. the date of which is still to be determined.Overview of Changes per Category Message Types (MT) Short description of the modification Cat 2 CR 000759 Impact level MUG 1 NA 1 No Except MT 204 MT 207 MT 256 1 No Delay until SR 2018.

MT 306 CR 000796 Add a new optional sequence for optional early terminations.Standards MT November 2015 5. To be able to confirm exotic barrier and binary products. This change is optional and is only needed when the message is used for reporting to a trade repository. MT 305 CR 000799 Add fields for deliverable vs net cash and for the floating rate. This change is optional and only required when confirming early terminations. MT 306 CR 000794 Add a new sequence for barrier and binary products. This change is optional for including a settlement rate source for vanilla options. This change is optional and only required when confirming multiple windows in barrier transactions. To be able to report to the trading repositories. To allow multiple window barrier transactions to be confirmed. Message Types (MT) Short description of the modification MT 304 CR 000801 Impact level MUG 2+ Yes 2+ No 2+ No 2+ No 2+ No 2+ No Add new fields for trade repository reporting. This change is optional and only required for provision of time and location in the settlement rate source. To be able to confirm deliverable and cash settled options. MT 306 CR 000797 Make optional sequence G Trigger Block repetitive. MT 306 CR 000798 Make optional subsequence F1 Barrier Window Block repetitive. This change is optional and only required when confirming multiple trigger transactions. To allow multiple currency barrier and binary transactions to be confirmed.5 Impact on Category 3 Treasury Markets The following changes are scheduled for implementation in SR 2015. To be able to confirm early terminations. 14 Updated High-Level Information .

variance and correlation swaps transactions. To allow time and location to be stipulated as well as allowing multiple settlement rates sources. This change is optional for further identification of the parties. To be able to confirm knock in knock out and knock out knock in options. This change is optional and only required when confirming average rate option transactions. MT 361 MT 362 MT 365 CR 000800 Add a new optional sequence for volatility. 21 November 2014 15 . To be able to confirm and terminate volatility. MT 306 CR 000795 Add codes to the field 22G Type of Barrier. MT 370 CR 000786 Add two new optional party identification fields in the MT 370 Netting Position Advice. This change is optional and only required when confirming volatility. MT 306 CR 000791 Add new optional fields for averaging forward transactions. This change is mandatory when confirming knock-in knock-out and knock-out knock-in barrier options. To be able to confirm averaging option products. It is mandatory for all users to be able to receive and process messages with this updated field. This change is optional and only required when confirming average rate forward transactions. MT 306 CR 000792 Add new optional fields for averaging option transactions. To be able to confirm averaging forward products. variance and correlation swaps transactions. variance and correlation swaps transactions. To enable wider usage of the message.Overview of Changes per Category Message Types (MT) Short description of the modification MT 306 CR 000793 Impact level MUG 2+ No 2+ No 2+ No 2+ No 2+ NA 2- No Expand detail and repetitiveness of field 14S Settlement Rate Source.

This change will facilitate automation of Payments to China but it is not mandatory for senders to use this new code. To improve regulatory reporting. All banks in China must be able to receive and process messages received with this new clearing code.Standards MT November 2015 Message Types (MT) MT 300 MT 305 MT 306 MT 340 MT 341 MT 360 MT 361 MT 360 MT 361 Short description of the modification CR 000790 Impact level MUG 1 No 1 No 1 NA Add codes for additional reporting jurisdictions. CR 000789 Add a new usage rule for describing a floating rate. To improve STP for the increasing number of RMB payments and to make sure that the MT messages can be easily mapped to CNAPS messages. This is a mandatory usage rule when describing a floating rate for swaps. 16 Updated High-Level Information . To align with other usage rules for floating rates. This change is optional and is only needed when the message is used for reporting to a trade repository. MT 370 CR 000750 Add the Chinese CNAPS clearing code in existing lists of clearing codes.

Overview of Changes per Category 5. 21 November 2014 17 .6 Impact on Category 4 Collections and Cash Letters There are no changes for implementation in SR 2015.

509. This change is optional as use of the field is linked to market practice or to a service level agreement (SLA) between the sender and receiver.2 Settlement and Reconciliation MTs 508. High impact known on US users. This change is optional as use of the field is linked to market practice or to a service level agreement (SLA) between the sender and receiver. 524. 578.7. To align the definitions with the description of the network validated rules. 5. 540-9. 586. 576. Definition change with very low impact on users’ business applications. 515. (alignment in other messages possible) Message Types (MT) Short description of the modification MT 535 CR 000739 To change the definition of the qualifier in field 93a::PLED and addition of a new field 22F and new qualifiers in field 94a. 513.1 Trade Initiation and Confirmation MTs 502. Updated High-Level Information . DEI2. High impact known on US users. 514. (alignment in other messages possible) Message Types (MT) MT 502 MT 513 MT 514 MT 515 MT 518 Short description of the modification CR 000914 Impact level MUG 1 No Impact level MUG 2+ No 2- No Correct definitions of qualifiers DEI1. 517.Standards MT November 2015 5. 535-8.7 Impact on Category 5 Securities Markets The following changes are scheduled for implementation in SR 2015. To comply with regulatory reporting requirements.7. REI1 and REI2. 5. MT 536 MT 537 MT 540 MT 542 MT 544 MT 546 18 CR 000741 Add a re-hypothecation code (RHYP) in field 22F::STCO Settlement Transaction Condition Indicator To improve STP for re-hypothecation agreements.

Definition change with very low impact on users’ business applications. CR 000748 Change the definition of status code in ISO 15022 messages to align them with definitions in ISO 20022 messages. Definition change with very low impact on users’ business applications.4 Collateral Management MTs 503-507. (alignment in other messages possible) Message Types (MT) MT 504 MT 505 MT 507 Short description of the modification CR 000914 Correct definitions of qualifiers DEI1. DEI2. REI1 and REI2. 566. 565. 569. MT 548 MT 549 CR 000743 Change the definitions of the denied reason codes in ISO 15022 and ISO 20022 messages.3 Corporate Action MTs 564. To enable the use of TPRC qualifier "Processing Change Command Status" to provide a status of other messages than the MT 530. To align the definitions with the description of the network validated rules. 5. To make the definitions more generic. 567. 568. To align the definitions with the description of the network validated rules. (alignment in other messages possible) All Corporate Action changes are postponed to a later release.7. DEI2. 21 November 2014 19 . Definition change with very low impact on users’ business applications.7. Definition change with very low impact on users’ business applications.Overview of Changes per Category Message Types (MT) MT 536 MT 537 MT 540 MT 541 MT 542 MT 543 MT 544 MT 545 MT 546 MT 547 MT 548 MT 578 MT 586 MT 548 MT 549 Short description of the modification CR 000914 Impact level MUG 1 No 1 No 1 No Impact level MUG 1 Yes Correct definitions of qualifiers DEI1. 527. 558. REI1 and REI2. 5.

DEI2.Standards MT November 2015 All other Collateral Management changes are postponed to a later release. REI1 and REI2. To improve STP for the increasing number of RMB payments and to make sure that the MT messages can be easily mapped to CNAPS messages. Definition change with very low impact on users’ business applications. 5.7. This change will facilitate automation of Payments to China but it is not mandatory for senders to use this new code. To align the definitions with the description of the network validated rules. 20 Updated High-Level Information . MT 575 CR 000914 Correct definitions of qualifiers DEI1. All banks in China must be able to receive and process messages received with this new clearing code.5 Other Category 5 Changes Message Types (MT) Short description of the modification MT 559 CR 000750 Impact level MUG 1 No 1 Yes Add the Chinese CNAPS clearing code in existing lists of clearing codes.

This change will facilitate automation of Payments to China but it is not mandatory for senders to use this new code. To improve STP for the increasing number of RMB payments and to make sure that the MT messages can be easily mapped to CNAPS messages. To prevent mismatching of white metal trades. Syndications. palladium and platinum).Overview of Changes per Category 5. All banks in China must be able to receive and process messages received with this new clearing code. This change is mandatory and will impact those who trade white metals. To improve regulatory reporting. Message Types (MT) MT 600 MT 601 MT 604 MT 605 MT 606 MT 607 MT 608 MT 609 MT 620 MT 600 MT 601 Short description of the modification CR 000647 Impact level MUG 2+ No Except MT 620 1 No 1 No Introduce a network validated rule to enforce the use of unit code GOZ for "white" metals (silver. and Reference Data The following changes are scheduled for implementation in SR 2015. CR 000790 Add codes for additional reporting jurisdictions. 21 November 2014 21 .8 Impact on Category 6 Treasury MarketsCommodities. MT 670 MT 671 CR 000750 Add the Chinese CNAPS clearing code in existing lists of clearing codes. This change is optional and is only needed when the message is used for reporting to a trade repository.

This change should have no impact on users. Message Types (MT) Short description of the modification MT 734 CR 000851 Impact level MUG 0 No Change definition of the code word "HOLD" in field 77B Disposal of Documents To align with the change in the rules for the business that followed the change from ICC UCP 500 to ICC UCP 600 in 2007.9 Impact on Category 7 Documentary Credits and Guarantees The following changes are scheduled for implementation in SR 2015. as the new definition of the code is already implemented by all users of the message. 22 Updated High-Level Information .Standards MT November 2015 5.

10 Impact on Category 8 Travellers Cheques There are no changes for implementation in SR 2015.Overview of Changes per Category 5. 21 November 2014 23 .

the date of which is still to be determined. This is an optional field. These account servicers will need to implement this change. To increase consistency within the Payments messages. 24 Updated High-Level Information . at the earliest. This request has no impact on users for SR 2015. Cat 9 CR 000759 Delay until SR 2018. which is to remove the free format options from field 50a Ordering Customer and field 59a Beneficiary Customer. To facilitate intraday liquidity monitoring requirements by using the field as a timestamp for the transaction. To allow banks time to analyse the full impact on back offices and on the business and to follow up on the finalisation of regulation regarding formatting of ordering customer and beneficiary customer in payments messages.Standards MT November 2015 5. Account owners that wish to have better liquidity risk-management will ask their account servicing institutions to provide date and time details to the confirmation messages. regarding information that covers similar business functionality. Message Types (MT) MT 900 MT 910 Short description of the modification CR 000761 Impact level MUG 2+ No 2- No 1 NA Add a field 13D Date/Time Indication to the MT 900 Confirmation of Debit and MT 910 Confirmation of Credit. It is linked to CR 000653 and the change will be implemented in a later release. Only senders who wish to use the new features will be impacted but all users must be able to receive and to process messages that contain these changes.11 Impact on Category 9 Cash Management and Customer Status The following changes are scheduled for implementation in SR 2015. the implementation of PART 2 of CR 000653. MT 910 CR 000758 Align the existing documentation for field 50F Ordering Customer with the published advanced information for field 59F Beneficiary Customer.

Overview of Changes per Category Message Types (MT) MT 900 MT 910 Short description of the modification CR 000750 Impact level MUG 1 No Add the Chinese CNAPS clearing code in existing lists of clearing codes. This change will facilitate automation of Payments to China but it is not mandatory for senders to use this new code. All banks in China must be able to receive and process messages received with this new clearing code. To improve STP for the increasing number of RMB payments and to make sure that the MT messages can be easily mapped to CNAPS messages. 21 November 2014 25 .

12 Impact on Category n Common Group Messages There are no changes for implementation in SR 2015.Standards MT November 2015 5. 26 Updated High-Level Information .

Low impact on users’ business applications. CROF. To harmonise the presence of the "certification/breakdown" and "narrative version" narrative qualifiers between the corporate action notification and the narrative messages. repetitive qualifier CETI Certification/Breakdown narrative in field 70E Narrative in sequence F Additional Information in MT 564 Corporate Action Notification. Message Types (MT) MT 502 MT 509 MT 515 Short description of the modification CR 000912 Impact level MUG 2+ No 2- No 2- No Delete codes SUBS. MT 564 MT 565 MT 566 MT 568 CR 000772 Add optional. in sequence E1 Securities Movement of MT 564 Corporate Action Notification and in sequence D1 Securities movement of MT 566 Corporate Action Confirmation. This change is the completion of an 8 year community driven migration programme validated and confirmed by the industry in 2011. This change is optional as use of the field is linked to market practice or to a service level agreement (SLA) between the sender and receiver. REDM. CROT. The release will be decided at a later date. Medium impact on users’ business applications. qualifier BUSE.Change Requests Postponed to a Later Standards Release 6 Change Requests Postponed to a Later Standards Release The changes in this section are held over for a future release. MT 564 MT 566 CR 000780 Add two indicator codes NREF Non-Refunded Security and REFU Refunded Security to qualifier NSIS New Securities Issuance Indicator in field 22F Indicator. SWIF. This is to support the community decision to migrate to a single standard for Funds order processing by the removal the tactical ISO 15022 solutions for funds. SWIT and DIVR from field 22H. repetitive qualifier CETI Certification / Breakdown narrative and qualifier TXNR Narrative Version in field 70a Narrative in sequence C Additional Information in MT 568 Corporate Action Narrative. 21 November 2014 27 . To be able to differentiate between the refunded and non-refunded securities for partial pre-refunding (PDEF) events. Add optional. This change is optional as use of the field is linked to market practice or to a service level agreement (SLA) between the sender and receiver.

in sequence A General Information of all MT 56X Corporate Action messages. The MWG agreed to create two new codes. MT 564 MT 566 CR 000920 (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 Indicator. non-repetitive qualifier BPRD Buyer Protection Response Deadline in field 98a Date/Time. To be able to distinguish the three put redemption scenarios that exist in the US. in sequence A General Information of all MT 56X Corporate Action messages. Medium impact on users’ business applications. Currently there is a single event type covering those three scenarios in the messages. in sequence D of MT 564 and in sequence C of MT 566. Amend the definition of indicator code PDEF in qualifier CAEV Corporate Action Event Indicator in field 22F Indicator. 28 Updated High-Level Information . This change is optional as use of the field is linked to market practice or to a service level agreement (SLA) between the sender and receiver. while only one put redemption event BPUT is present in the messages. This change is optional as use of the field is linked to market practice or to a service level agreement (SLA) between the sender and receiver. non-repeatable qualifier ECRD Election To Counterparty Response Deadline to field :98a::Date/Time in sequence D of MT 564 and to rename the existing element “Election to Counterparty Deadline” to “Election to Counterparty Market Deadline. in Additional Business Process Indicator :22F::ADDB. To enable the account servicers/CSDs to provide a client response deadline prior to the buyer protection deadline. This change is optional as use of the field is linked to market practice or to a service level agreement (SLA) between the sender and receiver. Low impact on users’ business applications.Standards MT November 2015 Message Types (MT) MT 564 MT 566 Short description of the modification CR 000779 Impact level MUG 2- No 2- No 2- No Add codes FPRE Full Pre-Refunding and PPRE Partial PreRefunding to qualifier CAEV Corporate Action Event Indicator in field 22F Indicator. FPRE and PPRE. in sequence D Corporate Action Details of MT 564 Corporate Action Notification. The MWG agreed to create one new code. in Additional Business Process Indicator :22F::ADDB in sequence D of MT 564 and in sequence C of MT 566. PPUT. The MWG agreed to add an optional. MT 564 CR 000775 Add optional. Low impact on users’ business applications. To be able to distinguish between the three different partial defeasance/pre-funding scenarios in the US market. in sequence A General Information of all MT56X Corporate Action messages.

Change Requests Postponed to a Later Standards Release Message Types (MT) Short description of the modification MT 564 CR 000778 Impact level MUG 2- No 2- No 2- No Make qualifier DIVI Dividend Type Indicator repeatable in field 22F Indicator. Delete optional qualifier BORD Stock Lending Deadline Date/Time in field 98a Date/Time. non-repetitive qualifier APLI Applied Option Flag to field 17B Flag. nonrepeatable qualifier BORD Stock Lending Deadline in field 98a Date/Time and with new. in sequence D Corporate Action Details of MT 564 Corporate Action Notification. To enable an account owner to distinguish between common mandatory events (MAND) and mandatory events that require an action on its side. mandatory. To make it possible to mention more than one non-mutually-exclusive type of dividend. To enable the custodians to provide one stock lending deadline per borrower. Add optional. MT 564 CR 000771 Add code REAC Required Action to qualifier ADDB Additional Business Process Indicator. when there is more than one borrower. in field :22F::DIVI Dividend Type Indicator. in sequence D of MT 564. mandatory. in sequence D Corporate Action Details of MT 564 Corporate Action Notification. MT 564 CR 000776 Add subsequence E3 Borrower Stock Lending Deadline in MT 564 Corporate Action Notification with new. Medium impact on users’ business applications. in order to receive the entitlement/proceeds. This change is optional as use of the field is linked to market practice or to a service level agreement (SLA) between the sender and receiver. The MWG agreed to make the qualifier BORD Stock Lending Deadline Date/Time repeatable in field :98a: Date/Time. SPRE. in sequence E Corporate Action Option of MT 564 Corporate Action Notification. in field 22F Indicator. in the same field in order to associate a date and time with a party either as a BIC or as a proprietary identification This change is optional as use of the field is linked to market practice or to a service level agreement (SLA) between the sender and receiver. in MT 564 Corporate Action Notification. The MWG agreed to add a new code. non-repeatable qualifier BORW Borrower in field 95a. Medium impact on users’ business applications. G and H. in sequence E Corporate Action Options. in sequence E of MT 564 and to create two new format options. This change is optional as use of the field is linked to market practice or to a service level agreement (SLA) between the sender and receiver. 21 November 2014 29 . Medium impact on users’ business applications.

CR 000831 Change usage rule in fields 45a Description of Goods and/or Services. This change aligns the usage rule with the market practice. postfinancing request/conditions for Receiving bank only.Standards MT November 2015 Message Types (MT) Short description of the modification MT 566 CR 000770 Impact level MUG 2- No 2- No 2+ No 1 No 1 No Add format option M to qualifiers SOFE Solicitation Fee Rate and ESOF Early Solicitation Fee Rate in field 92a Rate. The first field specifies special payment conditions applicable to the beneficiary. Medium impact on users’ business applications. 47a Additional Conditions The rule about the number of occurrences of these fields is too restrictive and many institutions are forced to bypass it. @. Updated High-Level Information . &. This change aligns the usage rule with the market practice. Current workarounds are not satisfactory. The limit of 3 continuation messages is too low and many institutions send more than 3. for example. as this is not a network-validated rule. To have consistent format options for solicitation fee and early solicitation fee rates between the corporate action notification and the corporate action confirmation messages. This change is optional as use of the field is linked to market practice or to a service level agreement (SLA) between the sender and receiver. CR 000830 Add two new fields: Special Payment Instructions for Beneficiary/Receiving Bank These two fields will provide a place for information that is now put in other free format fields. post-financing request/conditions for Beneficiary. for example. in sequence D2 Cash Movement of MT 566 Corporate Action Confirmation. as this is not a network-validated rule. 46a Documents Required. The second field specifies special payment conditions applicable to the receiving bank. CR 000832 Change usage rule about number of continuation messages. MT 700 MT 701 MT 705 MT 710 MT 711 MT 720 MT 721 MT 700 MT 701 MT 710 MT 711 MT 720 MT 721 MT 700 MT 701 MT 710 MT 711 MT 720 MT 721 MT 700 MT 701 MT 710 MT 711 MT 720 MT 721 30 CR 000812 Use z character set in field 45A Description of Goods and /or Services The X character set lacks some commonly used characters for example %.

CR 000818 Change format in field 59 Beneficiary Name and address fields are too short and need to be increased to 6 lines. address and country lines. &. 31 . CR 000817 Change format of field 50 Applicant Name and address fields are too short and need to be increased to 6 lines. Automatic extraction of country code is needed for compliance reasons. @. CR 000824 Delete all codes that relate to revocable documentary credits from field 40A. Current workarounds are not satisfactory. These codes are therefore obsolete and must be removed. Automatic extraction of country code is needed for compliance reasons. Prefixes are also needed to identify name. revocable instruments no longer exist. In practice. Prefixes are also needed to identify name.Change Requests Postponed to a Later Standards Release Message Types (MT) MT 700 MT 705 MT 707 MT 710 MT 720 MT 730 MT 732 MT 740 MT 742 MT 747 MT 750 MT 752 MT 754 MT 756 MT 768 MT 769 MT 700 MT 705 MT 707 MT 710 MT 720 MT 740 MT 700 MT 705 MT 710 MT 720 MT 700 MT 705 MT 710 MT 720 21 November 2014 Short description of the modification CR 000814 Impact level MUG 2- No 2- No 2- No 2- No Use z character set in field 72 Sender to Receiver Information The X character set lacks some commonly used characters for example %. address and country lines.

Prefixes are also needed to identify name. CR 000819 Change format of field 41D Available With … By … Name and address fields are too short and need to be increased to 6 lines. Name and address fields are too short and need to be increased to 6 lines. Automatic extraction of country code is needed for compliance reasons. this field is therefore required to specify it. Prefixes are also needed to identify name.Standards MT November 2015 Message Types (MT) MT 700 MT 705 MT 710 MT 720 MT 730 MT 734 MT 740 MT 742 MT 750 MT 752 MT 754 MT 756 MT 768 MT 769 MT 700 MT 705 MT 710 MT 720 MT 740 MT 700 MT 707 MT 710 MT 752 MT 760 MT 767 MT 700 MT 710 MT 720 Short description of the modification CR 000820 Impact level MUG 2- No 2- No 2- No 2+ No 2- No Change format of party fields which identify banks. address and country lines. 707. 760 and 767. To improve STP by checking that the appropriate codes are used. 710. To make the field more precise and more structured. address and country lines. 752. it is not always clear which bank is requested to add its confirmation. to allow for automation. MT 700 MT 710 MT 720 CR 000825 Change the format of field 43P Partial Shipment and introduce codes. CR 000823 Add new field for Requested Confirmation Party after field 49 Confirmation Instructions In some scenarios. Automatic extraction of country code is needed for compliance reasons. 32 Updated High-Level Information . CR 000650 Add network validation for codes in field 23 of MT 700.

33 . Current workarounds are not satisfactory. CR 000827 Rename field 48 Period for Presentation to "Period for Presentation in days" Clarify field name in line with the format change. CR 000822 Rename field 42P Deferred Payment Details to "Negotiation/Deferred Payment Details" Clarify the field name as the field can also be used for negotiation details. and to allow for automation. MT 700 MT 710 MT 720 MT 700 MT 710 MT 720 MT 730 MT 740 MT 742 MT 750 MT 752 MT 754 MT 768 MT 769 MT 700 MT 710 MT 720 MT 740 21 November 2014 CR 000829 Change definition in field 49 Confirmation Instructions Clarify the definition. and to allow for automation. CR 000813 Use z character set in all charges fields. The X character set lacks some commonly used characters for example %. &. To make the field more precise and more structured.Change Requests Postponed to a Later Standards Release Message Types (MT) MT 700 MT 710 MT 720 Short description of the modification CR 000826 Impact level MUG 2- No 2- No 1 No 1 No 2- No 1 No Change the format of field 43T Transshipment and introduce codes. MT 700 MT 710 MT 720 MT 700 MT 710 MT 720 CR 000828 Change format and definition of field 48 Period for Presentation To make the field more precise and more structured. @.

MT 734 MT 750 MT 754 34 CR 000815 Use z character set in field 73 Charges The X character set lacks some commonly used characters for example %. Codes have been added to specify which changes are being made in free format fields. Align field with UCP 600.Standards MT November 2015 Message Types (MT) Short description of the modification MT 707 CR 000833 Impact level MUG 3 No 3 No 2+ No 2+ No 1 No 2- No Create new extension message MT 708 The redesign of the MT 707 Amendment to a Documentary Credit calls for a new extension message. 46A Documents Required and 47A Additional Conditions. MT 734 CR 000651 Strictly align the codes and definitions in field 77B Disposal of Documents with UCP 600. any field present in the MT 700 can be amended using the MT 707. As part of an amendment. MT 707 CR 000848 Redesigned MT 707 Amendment to a Documentary Credit The MT 707 has been completely redesigned to be a mirror image of the MT 700 Issue of a Documentary Credit. which is this MT 708. Accept or Negotiate To accommodate information that does not fit in the structured fields of this message. This way. allow full replacement text to be provided for the fields 45A Description of Goods and/or Services. @. 46A and 47A as optional fields in MT 707. and add Sequence Of Total. Updated High-Level Information . &. so that multiple MT 707 messages can be sent for one amendment. MT 707 CR 000340 Add field 45A. Current workarounds are not satisfactory. MT 730 MT 752 CR 000821 Add field 79 Narrative in MT 730 Acknowledgement and MT 752 Authorisation to Pay.

Current workarounds are not satisfactory. MT 767 CR 000850 Redesigned MT 767 Guarantee/Standby Letter of Credit Amendment The MT 767 Amendment needed to be completely redesigned. 77B Disposal of Documents and 77A Narrative The X character set lacks some commonly used characters for example %. @. MT 760 CR 000849 Redesigned MT 760 Guarantee/Standby Letter of Credit The MT 760 was a free format message and. File Identification. MT 760 CR 000847 Create a new message MT 761 Demand Guarantee/Standby Letter of Credit Issuance Extension This message is sent in addition to an MT 760 Guarantee/Standby Letter of Credit message. etc. This new field is the same as the one present in the MT 798 trade messages for corporate to bank communication. This message may specify the terms and conditions of the undertaking and for a counter-undertaking and may specify the requested terms and conditions of the local undertaking. &. when the information in the undertaking exceeds the maximum message size of the MT 760.Change Requests Postponed to a Later Standards Release Message Types (MT) MT 734 MT 750 MT 754 Short description of the modification CR 000816 Impact level MUG 2- No 3 No 3 No 3 No 2+ No Use z character set in fields 77J Discrepancies. to identify location of attachments For guarantees and standbys.). MT 768 MT 769 CR 000852 Add new field. cover letter. these can be sent by another channel. limit controls etc. given the redesign of the base message MT 760. but a reference is needed in the message. for better automation. STP. 21 November 2014 35 . there is often a need to transmit other documents (letter of guarantee. the community has asked for this message to be completely redesigned to provide structured fields. Up to eight MT 761 messages may be sent in addition to the MT 760. over the years.

Message Types (MT) Cat 1 Cat 2 Cat 9 Short description of the modification CR 000754 Impact level MUG 2+ NA 2+ No Except MT 103 REMIT MT 102 2- Yes Except MT 103 MT 103 STP MT 102 STP Reverse the decision reflected in CR 000653 PART 2. To accommodate the US Dodd Frank 1073 regulation and to be able to indicate that a payment is a consumer credit transfer. It will also decrease the number of inquiries initiated in respect of unknown/unrecognisable charges. this structure must stay. To increase transparency in the payment chain and to show which party deducted each of the charges.Standards MT November 2015 7 Rejected and Withdrawn Change Requests These changes were rejected by a maintenance working group or withdrawn by the submitter. In order to meet the requirements of the Russian legislation. CR 000767 Add an optional code word to identify consumer credit transfers. For compliance and cost-efficiency reasons. the Russian banking community worked out a fixed structure for fields 50K and 59 no letter option. Updated High-Level Information . which helps to automate the processing of Russian Rouble MTs 103. to remove the free format options from field 50a Ordering Customer and field 59a Beneficiary Customer. MT 102 MT 102 STP MT 103 MT 103 REMIT MT 103 STP MT 102 MT 102 STP MT 103 MT 103 REMIT MT 103 STP MT 104 MT 107 36 CR 000755 Add a third mandatory subfield to field 71F Sender’s Charges to hold the BIC of the party that took the charges indicated in this field.

To comply with regulatory AML requirements that mandate the presence of remittance information and increase transparency. 37 . Change the format and validation of reason codes in Payment Reject/Return Guidelines. To align the documentation with well-known business implementations and to be able to incorporate these codes in the 'like for like' implementation of ISO 20022 messages for high value payments. To support coexistence and migration by allowing the use of the ISO 20022 external code list for return reason codes. CR 000753 MUG Make field 70 Remittance Information mandatory.Rejected and Withdrawn Change Requests Message Types (MT) Short description of the modification MT 102 MT 102 STP MT 103 MT 103 REMIT MT 103 STP MT 202 MT 202 COV MT 205 MT 205 COV CR 000757 MT 102 MT 103 MT 103 REMIT MT 104 MT 107 MT 110 MT 195 MT 199 MT 200 MT 201 MT 202 MT 202 COV MT 203 MT 204 MT 205 MT 205 COV MT 295 MT 299 CR 000756 MT 103 MT 202 COV 21 November 2014 Impact level 1 No Except MT 102 MT 103 REMIT 2+ No Except MT 104 MT 107 MT 204 MT 102 MT 103 REMIT 2+ No Add codes to field 13C Time Indication in Payments messages.

To allow "hard" collateral pledge and to satisfy CCPs' regulatory requirements for segregating collateral. MT 300 CR 000788 Add a network validated rule for non-deliverable forwards. that should be used with either 22F::SETR//COLI (broker owned) or 22F::SETR//COLO (client owned) collateral code words. To enhance usage rules for non-deliverable forwards. Version of the Agreement mandatory in the MT 300 Foreign Exchange Confirmation and MT 305 Foreign Currency Option Confirmation. as a result of an MT 191 request. MT 502 MT 509 MT 515 CR 000811 Update the documentation of the code "SUBS" for qualifier "BUSE" of the field 22a "Indicator". To clarify the use and the definitions of the "Buy/Sell" qualifier. MT 300 MT 305 CR 000787 Make field 77H Type. Updated High-Level Information . To be consistent with ISDA recommendations. qualifier STCO Settlement Transaction Condition Indicator. Date. in the Payment transfer messages without creating new nonSTP claims. MT 535 MT 536 MT 537 MT 540 MT 541 MT 542 MT 543 MT 544 MT 545 MT 546 MT 547 MT 548 38 CR 000742 Add a collateral pledge in field 22F.Standards MT November 2015 Message Types (MT) MT 202 MT 203 MT 205 Short description of the modification CR 000762 Impact level MUG 2+ No 2+ No 2+ No 1 No 2+ No Add an optional field to the interbank payment transfer messages to indicate the details of the charges contained/settled in the message. To provide details of the amount settled.

ASFR Account Servicer Reference.038 sese. To make it possible to indicate a source country for cash payment so as to be able break out the payment rates per source country instead of indicating this in narrative fields.Rejected and Withdrawn Change Requests Message Types (MT) MT 536 MT 537 MT 540 MT 541 MT 542 MT 543 MT 544 MT 545 MT 546 MT 547 MT 548 MT 578 MT 540 MT 541 MT 542 MT 543 Short description of the modification CR 000738 Impact level MUG 0 No Except sese. MT 564 MT 566 CR 000766 Add optional.039 0 No 2+ No 2+ Yes 2+ No Add codes for registration basis in direct holding countries. in field 22F. CR 000737 In field 20C Reference. add the missing reference qualifiers MITI Market Infrastructure Identification and PCTI Processor Transaction Identification. in sequence E2 Cash Movement of MT 564 Corporate Action Notification and in sequence D2 Cash Movement of MT 566 Corporate Action Confirmation. To comply with regulatory requirements. non-repetitive qualifier SRCI Country of Income Source in the new 94C Place field. To improve STP in the context of T2S. 21 November 2014 39 . To be able to report the status of DBV transactions back to the instructing party. To comply with regulatory reporting requirements. qualifier SETR (Type of Settlement Transaction Indicator). MT 540 MT 541 MT 542 MT 543 MT 544 MT 545 MT 546 MT 547 MT 558 CR 000740 Add a new sequence "Reporting Information". CR 000809 Add a new qualifier ACDR to field 19A Amount in sequence A General Information.

Or Alternatively add codes DELV. To enrich the instruction statuses for proxy voting so as to provide new statuses such as market registration. MT 567 CR 000781 Add optional. DISC. To be able to qualify precisely the type of information event that is announced. in sequence A2a Reason of MT 567 Corporate Action Status and Processing Advice. with regard to investment funds instruments in the German market. in sequence A2a Reason of MT 567 Corporate Action Status and Processing Advice. in sequence A2a Reason of MT 567 Corporate Action Status and Processing Advice. REGI Beneficial Owner Registration to qualifier PACK Accepted Reason in field 24B Reason Code. MT 567 CR 000774 Add codes DOCS Pending Documentation and VALD Pending Validation for qualifier PEND Pending Reason in field 24B Reason Code. as per the UCITS IV regulation. INTC Delivered to CSD. INTI. in sequence A2 Status of the MT 567 Corporate Action Status and Processing Advice. INTA. Add codes DELV Vote Cast. in sequence D Corporate Action Details of MT 564 Corporate Action Notification. Add code IREJ Rejected By Intermediary for qualifier REJT Rejection Reason in field 24B Reason Code. DOCS. DISC Market Disclosure. tabulator. To make it possible for an account owner to know the exercise date linked to its instruction for "au fil de l'eau" processing of events.Standards MT November 2015 Message Types (MT) Short description of the modification MT 564 CR 000769 Impact level MUG 2- No 2- No 2+ No Add eight indicator codes to qualifier INFO Information Type Indicator in field 22F Indicator. non-repetitive qualifier EXER Exercise Date in new field 98a. onward delivery of the instruction to the next market intermediary (for example. registrar. INTI Delivered to Issuer. CSD. IPAC Accepted by Intermediary. INTC. appointed third parties). INTR. INTR Delivered to Registrar. such as conversion or warrant events. IPAC to qualifier IPRC Instruction Processing Status in field 25D Status Code. in subsequence A2 Status of MT 567 Corporate Action Status and Processing Advice. 40 Updated High-Level Information . completion stage of the vote execution process. INTA Delivered to Third Party.

MT 900 CR 000749 Allow for non-financial institutions to be identified as a separate party in MT 900. may be different from the receiver. which will reduce the investigation processing time and the number of investigation messages. To be able to identify all parties involved in the payment. compliance and fraud in the optional field 113 Banking Priority. which is found in the User Header block (block 3) of the message. MT n99 CR 000768 Publish an optional code list for sanctions. To create easy 'fraud alerts' and prioritise investigations related to regulatory inquiries/sanctions screening. where the account owner. 21 November 2014 41 .Rejected and Withdrawn Change Requests Message Types (MT) Short description of the modification MT 600 CR 000648 Impact level MUG 2+ No 2+ No 2- No Add an exercise field and a fixing field for cash settled forward. To enable cash settled transactions for commodities. Make existing codes in field 75 Queries and field 76 Answers field specific/less generic. particularly in a relay scenario.

Translations The English version of SWIFT documentation is the only official version. service. or company names in this publication are trade names. Accord. SWIFTNet.End-User License Agreement SWIFT Standards are licensed subject to the terms and conditions of the SWIFT Standards IPR Policy End-User License Agreement. SWIFT Standards Intellectual Property Rights (IPR) Policy .Standards MT November 2015 Legal Notices Copyright SWIFT © 2014. 3SKey. SWIFT. The following are registered trademarks of SWIFT: the SWIFT logo. Innotribe. The information in this publication may change from time to time. Disclaimer This publication constitutes advance information only and is not to be considered the final and complete standards documentation for the subject matter published herein. You must always refer to the latest available version. Other product.com > About SWIFT > Legal > SWIFT Standards IPR Policy. SCRL. trademarks.F. Trademarks SWIFT is the trade name of S. or registered trademarks of their respective owners.T. Sibos. All rights reserved. 42 Updated High-Level Information . and SWIFT Institute. available at www.swift. the Standards Forum logo.W.I. MyStandards.