Global: 2017 SWIFT Standards Release
SWIFT
Mandatory /
CITI Requirement
Messages
Optional /
Message Sequence Nature of Change
No
Effected
Definition Change
Funds / Trade Initiation and Confirmation
MT502
Definition Change
B3
FIA
Client Impact
Message Sample (Future State)
Message Sample (Current State)
FOR INFORMATION ONLY, DEFINITION CHANGE AND NO
DEVELOPMENT REQUIRED
NA as No Change
NA as No Change
FOR INFORMATION ONLY, DEFINITION CHANGE AND NO
DEVELOPMENT REQUIRED
NA as No Change
NA as No Change
FOR INFORMATION ONLY, DEFINITION CHANGE AND NO
DEVELOPMENT REQUIRED
NA as No Change
NA as No Change
SWIFT Change Request ID: CR 001126
Overview
Modify definition of qualifier INTR in field 92a.
MT509
NA
NA
`
To be able to use INTR as the basis of calculation of the actual interest rate
for all types of bonds (fixed or variable rates).
Requirement
MT513
Definition Change
C3
FIA
This is a change of definition and does not impact the message structure.
Change in definition of the Interest Rate qualifier :92A::INTR
MT515
Definition Change
C2
FIA
MT502
Definition Change
C
SETDET
INTR Interest Rate
Annualised Annual interest rate of a financial instrument used to calculate the
actual interest rate of the coupon or the accrued interest.
SWIFT Change Request ID: CR 001083
Overview
Modify the definitions of codes CALL and ROLP used with qualifier REPT in
field 22F.
To remove ambiguity in the interpretation of codes CALL and ROLP.
MT509
NA
NA
This is a change of definition and does not impact the message structure.
Requirements
Req 1.1
Change in definition of the Repo Call Repurchase Type Indicator code
:22F::REPT//CALL
MT513
Definition Change
D
SETDET
CALL Repo Call
Relates to the a change in early closing / or maturity date for a term repo or
the termination providing of the date of for an open repo with underlying
collateral.
Change in definition of the Repo Contract Rollover Repurchase Type Indicator
code :22F::REPT//ROLP
ROLP Repo Contract Rollover
Relates to a repo rollover of a contract position extending the closing or
maturity date without impacting underlying collateral.
MT515
Definition Change
D
SETDET
MT508
NA
NA
MT540
Definition Change
B1
FIA
SWIFT Change Request ID: CR 001126
MT541
Definition Change
B1
FIA
Overview
MT542
Definition Change
B1
FIA
Modify definition of qualifier INTR in field 92a.
MT543
Definition Change
B1
FIA
To be able to use INTR as the basis of calculation of the actual interest rate
for all types of bonds (fixed or variable rates).
MT544
Definition Change
B1
FIA
Requirement
MT545
Definition Change
B1
FIA
This is a change of definition and does not impact the message structure.
MT546
Definition Change
B1
FIA
Change in definition of the Interest Rate qualifier :92A::INTR
MT547
Definition Change
B1
FIA
MT548
NA
NA
MT578
Definition Change
B1
FIA
Settlements
Req 2.0
INTR Interest Rate
Annualised Annual interest rate of a financial instrument used to calculate the
actual interest rate of the coupon or the accrued interest.
Page 1 of 36
Global: 2017 SWIFT Standards Release
SWIFT
CITI Requirement
Messages
No
Effected
MT508
Mandatory /
Optional /
Message Sequence Nature of Change
Definition Change
NA
Client Impact
Message Sample (Future State)
Message Sample (Current State)
FOR INFORMATION ONLY, DEFINITION CHANGE AND NO
DEVELOPMENT REQUIRED
NA as No Change
NA as No Change
FOR INFORMATION ONLY, DEFINITION CHANGE AND NO
DEVELOPMENT REQUIRED
NA as No Change
NA as No Change
NA as No Change
NA as No Change
NA
SWIFT Change Request ID: CR 001030
Req 2.1
MT540
Definition Change
A1
LINK
Overview
MT541
Definition Change
A1
LINK
Modify the definitions of qualifiers TRCI and TCTR in Settlement and
Reconciliation messages.
MT542
Definition Change
A1
LINK
To align with the definitions with those used in Triparty Collateral
Management messages.
MT543
Definition Change
A1
LINK
Requirement
This is a change of definition and does not impact the message structure.
MT544
Definition Change
A1
LINK
Change in definition of the Triparty-Agent’s/Service-Providers Collateral
Instruction Reference qualifier :20C::TRCI
MT545
Definition Change
A1
LINK
MT546
Definition Change
A1
LINK
TRCI Triparty-Agent’s/Service-Provider’s Triparty’s Collateral Instruction
Reference
Reference assigned to the instruction by the triparty-agent/service-provider.
MT547
Definition Change
A1
LINK
MT548
Definition Change
A1
LINK
MT578
NA
NA
MT508
NA
NA
MT540
Definition Change
E
SETDET
Overview
MT541
Definition Change
E
SETDET
Modify the definitions of codes CALL and ROLP used with qualifier REPT in
field 22F.
MT542
Definition Change
E
SETDET
To remove ambiguity in the interpretation of codes CALL and ROLP.
MT543
Definition Change
E
SETDET
Change in definition of the Triparty-Agent’s/Service-Providers Collateral
Transaction Reference qualifier :20C::TCTR
TCTR Triparty-Agent's/Service-Provider’s Triparty Agent Collateral
Transaction Reference
Unique reference identifying the triparty-agent/service-provider collateral
management transaction from the triparty-agent’s/service-provider’s point of
view.
SWIFT Change Request ID: CR 001083
Req 2.2
Requirement
This is a change of definition and does not impact the message structure.
MT544
Definition Change
E
SETDET
MT545
Definition Change
E
SETDET
MT546
Definition Change
E
SETDET
CALL Repo Call
Relates to the a change in early closing/ or maturity date for a term repo or
the termination providing of the date of for an open repo with underlying
collateral.
MT547
Definition Change
E
SETDET
Change in definition of the Repo Contract Rollover Repurchase Type Indicator
code :22F::REPT//ROLP
MT548
Definition Change
B
SETTRAN
ROLP Repo Contract Rollover
Relates to a repo rollover of a contract position extending the closing or
maturity date without impacting underlying collateral.
MT578
NA
NA
MT508
NA
NA
MT540
NA
NA
MT541
NA
NA
MT542
NA
NA
MT543
NA
NA
MT544
Optional
E
SETDET
In the Securities cash split market practice, the MT 544 and MT 546 must be
sent to confirm the settlement of the Securities side. However this specific
CITI DO NOT CURRENTLY SUPPORT SPLIT SETTLEMENTS SO THIS
SPST code does not exist for STCO.
REQUIREMENT IS OUT OF SCOPE FOR SR2017
MT545
NA
NA
Requirement
MT546
Optional
E
SETDET
MT547
NA
NA
Addition of the Split Settlement code to the free of payment settlement
confirmation messages in field Settlement Transaction Condition Indicator
:22F::STCO//SPST to be used where applicable.
MT548
NA
NA
MT578
NA
NA
Change in definition of the Repo Call Repurchase Type Indicator code
:22F::REPT//CALL
SWIFT Change Request ID: CR 001132
Overview
Req 2.3
Add code SPST for a split settlement to qualifier STCO, in field 22F of
sequence E.
SPST Split Settlement
Money and financial instruments settle in different locations.
Page 2 of 36
Global: 2017 SWIFT Standards Release
SWIFT
CITI Requirement
Messages
No
Effected
MT508
Mandatory /
Optional /
Message Sequence Nature of Change
Definition Change
NA
Client Impact
Message Sample (Future State)
NA
MT540
NA
NA
MT541
NA
NA
MT548
SWIFT Change Request ID: CR 001131
MT542
NA
NA
Overview
Add a rejection reason code INVM to qualifier REJT in field 24B.
Req 2.4
MT543
NA
NA
MT544
NA
NA
Code INVM was added to the ISO 20022 message sese.031 in SR2012. The
ISO change request also stated "All the accepted codes will be included in
MT 548", however, code INVM was not implemented in MT 548.
Requirement
MT545
NA
NA
Addition of the Invalid Modification Request reason code to the Rejection
Reason field (:24B::REJT//INVM) as part of the Modification Request
Rejection (:25D::TPRC//REJT) status’ in the settlement status advice
message
MT546
NA
NA
INVM Invalid Modification Request
Invalid or unrecognized modification request.
MT547
NA
NA
MT548
Optional
A2a
REAS
MT578
NA
NA
Definition Change
B
INPOSDET
MT508
MT540
NA
NA
Message Sample (Current State)
This change is optional for the outbound MT548 message and will be used
where applicable
:16R:GENL
:20C::SEME//56012345601
:23G:NEWM
:98C::PREP//20170124000230
:16R:LINK
:13A::LINK//541
:20C::RELA//1234567890
:16S:LINK
:16R:STAT
:25D::TPRC//REJT
:16R:REAS
:24B::REJT//INVM
:16S:REAS
:16S:STAT
:16S:GENL
:16R:SETTRAN
:35B:ISIN GB0123456789
ABC COMPANY LTD
:36B::SETT//UNIT/1000,
:19A::SETT//EUR10000,00
:97A::SAFE//600000000
:22F::SETR//TRAD
:22H::REDE//RECE
:22H::PAYM//APMT
:98A::SETT//20170125
:98A::TRAD//20170123
:16R:SETPRTY
:95P::PSET//CSDAXX22
:16S:SETPRTY
:16R:SETPRTY
:95P::DEAG//CUSTXX22
:16S:SETPRTY
:16R:SETPRTY
:95P::SELL//BENEYY22
:97A::SAFE//1234
:16S:SETPRTY
:16S:SETTRAN
–
NA as it’s a new code
SWIFT Change Request ID: CR 001128
Overview
Modify definitions of codes DRAW, PCAL and PRED used with qualifier
CAEV, in field 22F.
To clarify the scope and usage of partial redemption events.
MT541
NA
NA
Requirement
This is a change of definition and does not impact the message structure.
Req 2.5
MT542
NA
NA
MT543
NA
NA
MT544
NA
NA
MT545
NA
NA
MT546
NA
NA
MT547
NA
NA
Change in definition of the Drawing Corporate Action Event Type code
:22F::CAEV//DRAW
DRAW Drawing
Securities Redemption are redeemed in part before the scheduled final
maturity date. of a security It is done without any pool factor reduction. The
redemption is reflected in a debit of the face amount (FAMT). Drawing is
FOR INFORMATION ONLY, DEFINITION CHANGE AND NO
distinct from partial call since drawn bonds are chosen by lottery. and with no
DEVELOPMENT REQUIRED
reduction in nominal value Therefore, not every holder is affected in the same
way.
Change in definition of the Partial Redemption Without Pool Factor Reduction
Corporate Action Event Type code :22F::CAEV//PCAL
PCAL Partial Redemption Without Pool Factor Reduction
Securities are redeemed in part before their scheduled final maturity date.
with reduction of the nominal value of the securities. The outstanding amount
of securities will be reduced proportionally It is done without any pool factor
reduction. The redemption is reflected in a debit of the face amount (FAMT).
Change in definition of the Partial Redemption With Pool Factor Reduction
Corporate Action Event Type code :22F::CAEV//PRED
MT548
MT578
NA
NA
NA
NA
PRED Partial Redemption With Pool Factor Reduction
Securities are redeemed in part before their scheduled final maturity date.
without reduction of the nominal value of the securities. This is commonly
done by The redemption is reflected in a pool factor reduction. No movement
of securities occurs.
Page 3 of 36
NA as No Change
NA as No Change
Global: 2017 SWIFT Standards Release
SWIFT
CITI Requirement
Messages
No
Effected
Mandatory /
Optional /
Message Sequence Nature of Change
Definition Change
MT508
Definition Change
B
INPOSDET
MT540
NA
NA
MT541
NA
NA
Client Impact
Message Sample (Future State)
Message Sample (Current State)
FOR INFORMATION ONLY, DEFINITION CHANGE AND NO
DEVELOPMENT REQUIRED
NA as No Change
NA as No Change
SWIFT Change Request ID: CR 001090
Overview
Modify definition of code EXTM used with qualifier CAEV in field 22F.
MT542
NA
NA
MT543
NA
NA
To extend the scope of the EXTM event to be used for all securities and not
only for bonds.
Requirement
Req 2.6
MT544
NA
NA
MT545
NA
NA
MT546
NA
NA
MT547
NA
NA
MT548
NA
NA
MT578
NA
NA
MT508
NA
NA
MT540
Optional
E
SETDET
Optional
E
SETDET
This is a change of definition and does not impact the message structure.
Change in definition of the Maturity Extension Corporate Action Event Type
code :22F::CAEV//EXTM
EXTM Maturity Extension
As stipulated in the a bond security’s Terms and Conditions, the issuer or the
holder bond- may prolong the maturity date of a security bond. After
extension, the security details may differ from the original issue.(new rate or
maturity date). May An issuer initiated extension may be subject to holder
bondholder’s approval.
MT541
SWIFT Change Request ID: CR 001126
MT541
MT542
NA
NA
Overview
(ISO 20022 CR 0609) Add the transaction code BIYI (Buy In) to code sets.
Also applies to ISO 15022 for coexistence purposes
Req 2.7
MT543
NA
NA
MT544
Optional
E
SETDET
MT545
NA
NA
MT546
NA
NA
MT547
NA
NA
MT548
Optional
B
SETTRAN
MT578
Optional
E
SETDET
To ensure that the code is applied, in a consistent manner, to the ISO 20022
code sets for Securities Transaction Type Code (and ISO 15022 where it
doesn’t currently exist)
This change is optional for messages and will be used where applicable
Requirement
Addition of the Buy In code to in the Settlement Transaction Type Indicator
field :22F::SETR//BYIY
BYIY Buy In
The transaction relates to a buy-in by the market following a delivery
transaction failure.
The code BYIY already existed in the MT545 which is why it’s not being
added there
Page 4 of 36
:16R:GENL
:20C::SEME//ABC12345
:23G:NEWM
:16S:GENL
:16R:TRADDET
:98A::SETT//20170125
:98A::TRAD//20170123
:35B:ISIN GB0123456789
ABC COMPANY LTD
:16S:TRADDET
:16R:FIAC
:36B::SETT//UNIT/1000,
:97A::SAFE//600000000
:16S:FIAC
:16R:SETDET
:22F::SETR//BYIY
:16R:SETPRTY
:95P::PSET//CSDAXX22
:16S:SETPRTY
:16R:SETPRTY
:95P::DEAG//CUSTXX22
:16S:SETPRTY
:16R:SETPRTY
:95P::SELL//BENEYY22
:97A::SAFE//1234
:16S:SETPRTY
:16R:AMT
:19A::SETT//EUR10000,00
:16S:AMT
:16S:SETDET
–
NA as it’s a new code
Global: 2017 SWIFT Standards Release
SWIFT
CITI Requirement
Messages
No
Effected
MT508
Mandatory /
Optional /
Message Sequence Nature of Change
Definition Change
SWIFT Change Request ID: CR 001142
NA
NA
Client Impact
Message Sample (Future State)
Message Sample (Current State)
Overview
(ISO 20022 CR0610) Enrich Securities Transaction Type element in ISO
20022 messages
MT540
MT541
NA
NA
NA
NA
MT578
Also applies to ISO 15022 for coexistence purposes
To allow the different market participants to use the transaction codes
consistently across the different messages, which can be especially
important for cross border transactions.
Requirement
MT542
NA
NA
Addition of Settlement Transacton Type codes to the Settlement Allegement
message in the Settlement Transaction Type Indicator field :22F::SETR//xxxx
CONV DR Conversion
Relates to a depository receipt conversion.
Req 2.8
MT543
NA
NA
MT544
NA
NA
MT545
NA
NA
MT546
NA
NA
ISSU Issuance
Relates to the issuance of a security such as an equity or a depository
receipt.
MKDW Mark-Down
Relates to the decrease of positions held by an ICSD at the common
depository due to custody operations (repurchase, pre-release, proceed of
corp. event realigned).
This change is optional for the MT578 Allegement message and will be used
where applicable where clients have elected to receive this message from Citi
MKUP Mark-Up
Relates to the increase of positions held by an ICSD at the common
depository due to custody operations (repurchase, pre-release, proceed of
corporate event realigned).
NSYN Non Syndicated
Relates to the issue of medium and short term paper (CP, CD, MTN, notes
...) under a program and without syndication arrangement.
MT547
MT548
NA
NA
NA
NA
REDI Withdrawal
Relates to the withdrawal of specified amounts from specified sub-accounts
RELE DR Release/Cancellation
Relates to a release (into/from local) of Depository Receipt operation.
:16R:GENL
:20C::SEME//5600000000
:23G:NEWM
:98C::PREP//20170123032801
:16R:LINK
:13A::LINK//578
:20C::RELA//ABC1234567
:16S:LINK
:16S:GENL
:16R:TRADDET
:98A::SETT//20170125
:98A::TRAD//20170123
:35B:ISIN GB0123456789
ABC COMPANY LTD
:22H::PAYM//APMT
:22H::REDE//DELI
:16S:TRADDET
:16R:FIAC
:36B::SETT//UNIT/1000,
:97A::SAFE//600000000
:16S:FIAC
:16R:SETDET
:22F::SETR//MKDW
:16R:SETPRTY
:95P::DEAG//CUSTXX22
:16S:SETPRTY
:16R:SETPRTY
:95P::BUYR//BENEYY22
:16S:SETPRTY
:16R:SETPRTY
:95P::PSET//CSDAXX22
:16S:SETPRTY
:16R:AMT
:19A::SETT//EUR10000,00
:16S:AMT
:16S:SETDET
-
NA as it’s new codes
SBBK Sell Buy Back
Relates to a sell buy back transaction.
MT578
Optional
E
SETDET
MT535
Definition Change
B1a
FIA
SYND Syndicate of Underwriters
Relates to the issue of financial instruments through a syndicate of
underwriters and a Lead Manager.
Reconciliation
SWIFT Change Request ID: CR 001126
Overview
MT536
NA
NA
Modify definition of qualifier INTR in field 92a.
To be able to use INTR as the basis of calculation of the actual interest rate
for all types of bonds (fixed or variable rates).
Req 3.0
MT537
NA
NA
Requirement
FOR INFORMATION ONLY, DEFINITION CHANGE AND NO
DEVELOPMENT REQUIRED
This is a change of definition and does not impact the message structure.
MT538
MT586
Definition Change
Definition Change
B1
FIA
B2
FIA
Change in definition of the Interest Rate qualifier :92A::INTR
INTR Interest Rate
Annualised Annual interest rate of a financial instrument used to calculate the
actual interest rate of the coupon or the accrued interest.
Page 5 of 36
NA as No Change
NA as No Change
Global: 2017 SWIFT Standards Release
SWIFT
CITI Requirement
Messages
No
Effected
MT535
Mandatory /
Optional /
Message Sequence Nature of Change
Definition Change
NA
NA
Client Impact
Message Sample (Future State)
Message Sample (Current State)
FOR INFORMATION ONLY, DEFINITION CHANGE AND NO
DEVELOPMENT REQUIRED
NA as No Change
NA as No Change
FOR INFORMATION ONLY, DEFINITION CHANGE AND NO
DEVELOPMENT REQUIRED
NA as No Change
NA as No Change
OUT OF SCOPE
NA as No Change
NA as No Change
SWIFT Change Request ID: CR 001030
Overview
Modify the definitions of qualifiers TRCI and TCTR in Settlement and
Reconciliation messages.
B1a1
LINK
MT536
To align with the definitions with those used in Triparty Collateral
Management messages.
Requirement
This is a change of definition and does not impact the message structure.
Req 3.1
B2a and C1
LINK
MT537
Change in definition of the Triparty-Agent’s/Service-Providers Collateral
Instruction Reference qualifier :20C::TRCI
TRCI Triparty-Agent’s/Service-Provider’s Triparty’s Collateral Instruction
Reference
Reference assigned to the instruction by the triparty-agent/service-provider.
MT538
NA
NA
MT586
NA
NA
MT535
NA
NA
Change in definition of the Triparty-Agent’s/Service-Providers Collateral
Transaction Reference qualifier :20C::TCTR
TCTR Triparty-Agent's/Service-Provider's Triparty Agent Collateral
Transaction Reference
Unique reference identifying the triparty-agent/service-provider collateral
management transaction from the triparty-agent's/service-provider's point of
view.
SWIFT Change Request ID: CR 001083
Overview
Modify the definitions of codes CALL and ROLP used with qualifier REPT in
field 22F.
B1a2
TRANSDET
MT536
To remove ambiguity in the interpretation of codes CALL and ROLP.
Requirement
This is a change of definition and does not impact the message structure.
Req 3.2
B2b and C2
TRANSDET
MT537
MT538
NA
NA
Change in definition of the Repo Call Repurchase Type Indicator code
:22F::REPT//CALL
CALL Repo Call
Relates to the a change in early closing/ or maturity date for a term repo or
the termination providing of the date of for an open repo with underlying
collateral.
Change in definition of the Repo Contract Rollover Repurchase Type Indicator
code :22F::REPT//ROLP
MT586
NA
NA
ROLP Repo Contract Rollover
Relates to a repo rollover of a contract position extending the closing or
maturity date without impacting underlying collateral.
MT535
NA
NA
SWIFT Change Request ID: CR 001096
Overview
MT536
Req 3.3
MT537
NA
NA
NA
NA
Add letter option "Q" to Account Owner Party fields
To allow for lengthy party names that are being truncated in the present
format options, for example, the surname is dropped
Network validated rule added to enforce the use of letter option Q only for
portfolio transfers.
MT538
NA
NA
MT586
Optional
A
GENL
Requirement
THIS REQUIREMENT IS OUT OF SCOPE FOR SR2017 AND WILL NOT
BE IMPLEMENTED BY CITI
Page 6 of 36
Global: 2017 SWIFT Standards Release
SWIFT
CITI Requirement
Messages
No
Effected
MT535
Mandatory /
Optional /
Message Sequence Nature of Change
Definition Change
NA
NA
Client Impact
Message Sample (Future State)
Message Sample (Current State)
OUT OF SCOPE
NA as No Change
NA as No Change
NA as No Change
NA as No Change
SWIFT Change Request ID: CR 001085
Overview
MT536
NA
NA
Add a new qualifier RMDR, reminder code, to field 23G to identify the function
of the message.
If the sender does not receive any answer from the receiving party then this
code will be used in a subsequent message to identify it as a reminder.
Req 3.4
MT537
NA
NA
Network validated rule added to enforce the use subfunction code PORT for
portfolio transfers.
MT538
NA
NA
Optional and used only for portfolio transfers.
Requirement
MT586
Optional
A
GENL
MT535
NA
NA
THIS REQUIREMENT IS OUT OF SCOPE FOR SR2017 AND WILL NOT
BE IMPLEMENTED BY CITI
SWIFT Change Request ID: CR 001128
Overview
Modify definitions of codes DRAW, PCAL and PRED used with qualifier
CAEV, in field 22F.
To clarify the scope and usage of partial redemption events.
Requirement
MT536
Definition Change
B1a2
TRANSDET
This is a change of definition and does not impact the message structure.
Change in definition of the Drawing Corporate Action Event Type code
:22F::CAEV//DRAW
Req 3.5
MT537
Definition Change
B2b and C2
TRANSDET
DRAW Drawing
Securities Redemption are redeemed in part before the scheduled final
maturity date. of a security It is done without any pool factor reduction. The
redemption is reflected in a debit of the face amount (FAMT). Drawing is
FOR INFORMATION ONLY, DEFINITION CHANGE AND NO
distinct from partial call since drawn bonds are chosen by lottery. and with no
DEVELOPMENT REQUIRED
reduction in nominal value Therefore, not every holder is affected in the same
way.
Change in definition of the Partial Redemption Without Pool Factor Reduction
Corporate Action Event Type code :22F::CAEV//PCAL
MT538
Definition Change
B2a
INPOS
PCAL Partial Redemption Without Pool Factor Reduction
Securities are redeemed in part before their scheduled final maturity date.
with reduction of the nominal value of the securities. The outstanding amount
of securities will be reduced proportionally It is done without any pool factor
reduction. The redemption is reflected in a debit of the face amount (FAMT).
Change in definition of the Partial Redemption With Pool Factor Reduction
Corporate Action Event Type code :22F::CAEV//PRED
MT586
NA
NA
PRED Partial Redemption With Pool Factor Reduction
Securities are redeemed in part before their scheduled final maturity date.
without reduction of the nominal value of the securities. This is commonly
done by The redemption is reflected in a pool factor reduction. No movement
of securities occurs.
Page 7 of 36
Global: 2017 SWIFT Standards Release
SWIFT
CITI Requirement
Messages
No
Effected
MT535
Mandatory /
Optional /
Message Sequence Nature of Change
Definition Change
NA
NA
Client Impact
Message Sample (Future State)
Message Sample (Current State)
FOR INFORMATION ONLY, DEFINITION CHANGE AND NO
DEVELOPMENT REQUIRED
NA as No Change
NA as No Change
SWIFT Change Request ID: CR 001090
Overview
MT536
Definition Change
B1a2
TRANSDET
Modify definition of code EXTM used with qualifier CAEV in field 22F.
To extend the scope of the EXTM event to be used for all securities and not
only for bonds.
Requirement
Req 3.6
MT537
Definition Change
B2b and C2
TRANSDET
This is a change of definition and does not impact the message structure.
Change in definition of the Maturity Extension Corporate Action Event Type
code :22F::CAEV//EXTM
MT538
Definition Change
B2a
INPOS
MT586
NA
NA
EXTM Maturity Extension
As stipulated in the a bond security’s Terms and Conditions, the issuer or the
holder bond- may prolong the maturity date of a security bond. After
extension, the security details may differ from the original issue.(new rate or
maturity date). May An issuer initiated extension may be subject to holder
bondholder’s approval.
MT586
Req 3.7
MT535
NA
NA
MT536
NA
NA
MT537
NA
NA
MT538
NA
NA
MT586
Optional
B5
SETDET
:16R:GENL
:28E:1/MORE
:20C::SEME//7018011234567890
:23G:NEWM
:98C::PREP//20170118014853
:98A::STAT//20170118
:22F::SFRE//DAIL
SWIFT Change Request ID: CR 001126
:22F::CODE//COMP
:97A::SAFE//600000000
Overview
:17B::ACTI//Y
:16S:GENL
(ISO 20022 CR 0609) Add the transaction code BIYI (Buy In) to code sets.
:16R:ALLDET
:16R:LINK
Also applies to ISO 15022 for coexistence purposes
:13A::LINK//578
:20C::PREV//ABC12345
To ensure that the code is applied, in a consistent manner, to the ISO 20022
This change is optional for the MT586 Statement of Allegements message and :16S:LINK
code sets for Securities Transaction Type Code (and ISO 15022 where it
:16R:LINK
will be used where applicable where clients have elected to receive this
doesn’t currently exist)
:20C::RELA//1234567890
message from Citi
:16S:LINK
Requirement
:98A::SETT//20161229
:98A::TRAD//20161227
Addition of the Buy In code to in the Settlement Transaction Type Indicator
:35B:ISIN GB0123456789
field :22F::SETR//BYIY
ABC COMPANY LTD
:22H::PAYM//FREE
BYIY Buy In
:22H::REDE//DELI
The transaction relates to a buy-in by the market following a delivery
:16R:FIAC
transaction failure.
:36B::SETT//UNIT/100,
:16S:FIAC
:16R:SETDET
:22F::SETR//BYIY
:16R:SETPRTY
:95P::DEAG//CUSTXX22
:16S:SETPRTY
:16S:SETDET
:16S:ALLDET
Page 8 of 36
NA as it’s a new code
Global: 2017 SWIFT Standards Release
SWIFT
CITI Requirement
Messages
No
Effected
Mandatory /
Optional /
Message Sequence Nature of Change
Definition Change
Client Impact
Message Sample (Future State)
Message Sample (Current State)
SWIFT Change Request ID: CR 001142
MT535
NA
NA
Overview
(ISO 20022 CR0610) Enrich Securities Transaction Type element in ISO
20022 messages
Also applies to ISO 15022 for coexistence purposes
To allow the different market participants to use the transaction codes
consistently across the different messages, which can be especially
important for cross border transactions.
MT536
NA
NA
Requirement
Addition of Settlement Transacton Type codes to the Settlement Allegement
Statement message in the Settlement Transaction Type Indicator field
:22F::SETR//xxxx
CONV DR Conversion
Relates to a depository receipt conversion.
ISSU Issuance
Relates to the issuance of a security such as an equity or a depository
receipt.
Req 3.8
MT537
NA
NA
MKDW Mark-Down
Relates to the decrease of positions held by an ICSD at the common
depository due to custody operations (repurchase, pre-release, proceed of
corp. event realigned).
MKUP Mark-Up
Relates to the increase of positions held by an ICSD at the common
depository due to custody operations (repurchase, pre-release, proceed of
corporate event realigned).
MT538
NA
NA
NSYN Non Syndicated
Relates to the issue of medium and short term paper (CP, CD, MTN, notes
...) under a program and without syndication arrangement.
REDI Withdrawal
Relates to the withdrawal of specified amounts from specified sub-accounts
RELE DR Release/Cancellation
Relates to a release (into/from local) of Depository Receipt operation.
MT586
:16R:GENL
:28E:1/MORE
:20C::SEME//7018011234567890
:23G:NEWM
:98C::PREP//20170118014853
:98A::STAT//20170118
:22F::SFRE//DAIL
:22F::CODE//COMP
:97A::SAFE//600000000
:17B::ACTI//Y
:16S:GENL
:16R:ALLDET
:16R:LINK
:13A::LINK//578
:20C::PREV//ABC12345
This change is optional for the MT586 Statement of Allegements message and :16S:LINK
will be used where applicable where clients have elected to receive this
:16R:LINK
message from Citi
:20C::RELA//1234567890
:16S:LINK
:98A::SETT//20161229
:98A::TRAD//20161227
:35B:ISIN GB0123456789
ABC COMPANY LTD
:22H::PAYM//FREE
:22H::REDE//DELI
:16R:FIAC
:36B::SETT//UNIT/100,
:16S:FIAC
:16R:SETDET
:22F::SETR//CONV
:16R:SETPRTY
:95P::DEAG//CUSTXX22
:16S:SETPRTY
:16S:SETDET
:16S:ALLDET
SBBK Sell Buy Back
Relates to a sell buy back transaction.
MT586
Optional
B5
SETDET
SYND Syndicate of Underwriters
Relates to the issue of financial instruments through a syndicate of
underwriters and a Lead Manager.
Page 9 of 36
NA as it’s a new code
Global: 2017 SWIFT Standards Release
SWIFT
CITI Requirement
Messages
No
Effected
Corporate Actions
MT564
Mandatory /
Optional /
Message Sequence Nature of Change
Definition Change
Definition Change
A
GENL
Client Impact
Message Sample (Future State)
Message Sample (Current State)
NA as No Change
NA as No Change
NA as No Change
NA as No Change
SWIFT Change Request ID: CR 001128
Overview
Modify definitions of codes DRAW, PCAL and PRED used with qualifier
CAEV, in field 22F.
To clarify the scope and usage of partial redemption events.
Requirement
MT565
Definition Change
A
GENL
This is a change of definition and does not impact the message structure.
Change in definition of the Drawing Corporate Action Event Type code
:22F::CAEV//DRAW
Req 4.0
MT566
Definition Change
A
GENL
DRAW Drawing
Securities Redemption are redeemed in part before the scheduled final
maturity date. of a security It is done without any pool factor reduction. The
redemption is reflected in a debit of the face amount (FAMT). Drawing is
FOR INFORMATION ONLY, DEFINITION CHANGE AND NO
distinct from partial call since drawn bonds are chosen by lottery. and with no
DEVELOPMENT REQUIRED
reduction in nominal value Therefore, not every holder is affected in the same
way.
Change in definition of the Partial Redemption Without Pool Factor Reduction
Corporate Action Event Type code :22F::CAEV//PCAL
MT567
Definition Change
A
GENL
PCAL Partial Redemption Without Pool Factor Reduction
Securities are redeemed in part before their scheduled final maturity date.
with reduction of the nominal value of the securities. The outstanding amount
of securities will be reduced proportionally It is done without any pool factor
reduction. The redemption is reflected in a debit of the face amount (FAMT).
Change in definition of the Partial Redemption With Pool Factor Reduction
Corporate Action Event Type code :22F::CAEV//PRED
MT568
Definition Change
A
GENL
PRED Partial Redemption With Pool Factor Reduction
Securities are redeemed in part before their scheduled final maturity date.
without reduction of the nominal value of the securities. This is commonly
done by The redemption is reflected in a pool factor reduction. No movement
of securities occurs.
MT564
Definition Change
A
GENL
SWIFT Change Request ID: CR 001090
Overview
MT565
Definition Change
A
GENL
Modify definition of code EXTM used with qualifier CAEV in field 22F.
To extend the scope of the EXTM event to be used for all securities and not
only for bonds.
Requirement
Req 4.1
MT566
Definition Change
A
GENL
This is a change of definition and does not impact the message structure.
FOR INFORMATION ONLY, DEFINITION CHANGE AND NO
DEVELOPMENT REQUIRED
Change in definition of the Maturity Extension Corporate Action Event Type
code :22F::CAEV//EXTM
MT567
Definition Change
A
GENL
MT568
Definition Change
A
GENL
EXTM Maturity Extension
As stipulated in the a bond security’s Terms and Conditions, the issuer or the
holder bond- may prolong the maturity date of a security bond. After
extension, the security details may differ from the original issue.(new rate or
maturity date). May An issuer initiated extension may be subject to holder
bondholder’s approval.
Page 10 of 36
Global: 2017 SWIFT Standards Release
SWIFT
CITI Requirement
Messages
No
Effected
MT564
Mandatory /
Optional /
Message Sequence Nature of Change
Definition Change
B1
FIA
Definition Change
D
CADETL
Client Impact
Message Sample (Future State)
Message Sample (Current State)
FOR INFORMATION ONLY, DEFINITION CHANGE AND NO
DEVELOPMENT REQUIRED
NA as No Change
NA as No Change
SWIFT Change Request ID: CR 001126
MT565
Definition Change
B1
FIA
Overview
Modify definition of qualifier INTR in field 92a.
B1
FIA
Req 4.2
MT566
Definition Change
C
CADETL
D1a
FIA
To be able to use INTR as the basis of calculation of the actual interest rate
for all types of bonds (fixed or variable rates).
Requirement
This is a change of definition and does not impact the message structure.
Change in definition of the Interest Rate qualifier :92A::INTR
MT567
NA
NA
MT568
Definition Change
B1
FIA
INTR Interest Rate
Annualised Annual interest rate of a financial instrument used to calculate the
actual interest rate of the coupon or the accrued interest.
Page 11 of 36
Global: 2017 SWIFT Standards Release
SWIFT
CITI Requirement
Messages
No
Effected
Mandatory /
Optional /
Message Sequence Nature of Change
Definition Change
Client Impact
E
CAOPTN
MT564
Mandatory
E2
CASHMOVE
MT565
NA
NA
SWIFT Change Request ID: CR 001095
Overview
Delete qualifier FLFR from field 92a in sequence E2 of MT 564 and from
sequence D2 of MT 566.
To remove the redundancy between qualifier FLFR and the rate type code
FLFR used in qualifier GRSS.
Redefine the FLFR rate type code to align with the definition of the “to be
deleted” FLFR rate qualifier.
Requirement
D
CACONF
Req 4.3
MT566
Mandatory
D2
CASHMOVE
Low impact on users’ business applications given very low use of the
qualifier.
Deletion of Fully Franked Rate qualifier :92a::FLFR
Any use of field :92a::FLFR with format options 92A, 92F or 92K will be
removed and replaced with the Fully Franked Rate Type Code in the
:92J::GRSS and :92J::NETT fields
FLFR Fully Franked Rate
Rate resulting from a fully franked dividend paid by a company; rate includes
tax credit for companies that have made sufficient tax payments during fiscal
period.
Any use of the 92a FLFR rate qualifier will be replaced by the use of the
FLFR Rate Type Code in the :92J::GRSS and :92J::NETT rate fields.
Updates in definitions or Rate Type Code FLFR to reflect the use and
alignment with the previous definition of the FLFR rate qualifier
MT567
NA
NA
MT568
NA
NA
FLFR Fully Franked
Fully franked Rate resulting from a fully franked dividend paid by a company;
rate includes tax credit for companies that have made sufficient tax payments
during fiscal period.
Page 12 of 36
Message Sample (Future State)
Message Sample (Current State)
MT564
MT564
:16R:GENL
:20C::CORP//CORP12345
:20C::SEME//987654321B
:23G:REPE
:22F::CAEV//DRIP
:22F::CAMV//CHOS
:98C::PREP//20160213200908
:25D::PROC//COMP
:16R:LINK
:13A::LINK//564
:20C::PREV//987654321A
:16S:LINK
:16S:GENL
:16R:USECU
:35B:ISIN AU000000AB01
AUSTRALIA COMPANY A LTD
:16R:FIA
:94B::PLIS//EXCH/XASX
:16S:FIA
:16R:ACCTINFO
:97A::SAFE//1234567890
:94F::SAFE//CUST/ACLRAU2S
:93B::ELIG//UNIT/542330,
:16S:ACCTINFO
:16S:USECU
:16R:CADETL
:98A::RDTE//20161230
:98A::XDTE//20161222
:16S:CADETL
:16R:CAOPTN
:13A::CAON//001
:22F::CAOP//CASH
:11A::OPTN//AUD
:17B::DFLT//Y
:98C::RDDT//20161230090000
:16R:CASHMOVE
:22H::CRDB//CRED
:97A::CASH//00001234567
:19B::GRSS//AUD78637,85
:19B::INTR//AUD33787,15
:19B::FLFR//AUD18981,55
:19B::SOIC//AUD25869,14
:19B::ENTL//AUD78637,85
:98A::PAYD//20170214
:92F::GRSS//AUD0,145
:92J::GRSS//FLFR/AUD0,035
:16S:CASHMOVE
:16S:CAOPTN
:16R:CAOPTN
:13A::CAON//002
:22F::CAOP//SECU
:22F::DISF//RDDN
:17B::DFLT//N
:98C::RDDT//20161230090000
:16R:SECMOVE
:22H::CRDB//CRED
:35B:ISIN AU000000AB01
AUSTRALIA COMPANY A LTD
STAPLED UNITS NPV
:36B::ENTL//UNIT/14169,
:92D::ADEX//0,02612659687/1,
:98A::PAYD//20170214
:16S:SECMOVE
:16R:CASHMOVE
:22H::CRDB//CRED
:98A::PAYD//20170214
:92A::FISC//0,
:92F::GRSS//AUD0,145
:90B::PRPP//ACTU/AUD5,5499
:16S:CASHMOVE
:16S:CAOPTN
:16R:GENL
:20C::CORP//CORP12345
:20C::SEME//987654321B
:23G:REPE
:22F::CAEV//DRIP
:22F::CAMV//CHOS
:98C::PREP//20160213200908
:25D::PROC//COMP
:16R:LINK
:13A::LINK//564
:20C::PREV//987654321A
:16S:LINK
:16S:GENL
:16R:USECU
:35B:ISIN AU000000AB01
AUSTRALIA COMPANY A LTD
:16R:FIA
:94B::PLIS//EXCH/XASX
:16S:FIA
:16R:ACCTINFO
:97A::SAFE//1234567890
:94F::SAFE//CUST/ACLRAU2S
:93B::ELIG//UNIT/542330,
:16S:ACCTINFO
:16S:USECU
:16R:CADETL
:98A::RDTE//20161230
:98A::XDTE//20161222
:16S:CADETL
:16R:CAOPTN
:13A::CAON//001
:22F::CAOP//CASH
:11A::OPTN//AUD
:17B::DFLT//Y
:98C::RDDT//20161230090000
:16R:CASHMOVE
:22H::CRDB//CRED
:97A::CASH//00001234567
:19B::GRSS//AUD78637,85
:19B::INTR//AUD33787,15
:19B::FLFR//AUD18981,55
:19B::SOIC//AUD25869,14
:19B::ENTL//AUD78637,85
:98A::PAYD//20170214
:92F::GRSS//AUD0,145
:92F::FLFR//AUD0,035
:16S:CASHMOVE
:16S:CAOPTN
:16R:CAOPTN
:13A::CAON//002
:22F::CAOP//SECU
:22F::DISF//RDDN
:17B::DFLT//N
:98C::RDDT//20161230090000
:16R:SECMOVE
:22H::CRDB//CRED
:35B:ISIN AU000000AB01
AUSTRALIA COMPANY A LTD
STAPLED UNITS NPV
:36B::ENTL//UNIT/14169,
:92D::ADEX//0,02612659687/1,
:98A::PAYD//20170214
:16S:SECMOVE
:16R:CASHMOVE
:22H::CRDB//CRED
:98A::PAYD//20170214
:92A::FISC//0,
:92F::GRSS//AUD0,145
:90B::PRPP//ACTU/AUD5,5499
:16S:CASHMOVE
:16S:CAOPTN
Global: 2017 SWIFT Standards Release
SWIFT
CITI Requirement
Messages
No
Effected
Mandatory /
Optional /
Message Sequence Nature of Change
Definition Change
E1
SECMOVE
MT564
Client Impact
Message Sample (Future State)
Message Sample (Current State)
FOR INFORMATION ONLY, THE TXBL CODE COULD STILL BE USED
EVEN THOUGH IT WASN’T PRESENT IN THE SWIFT USER HANDBOOK
NA as No Change
NA as No Change
FOR INFORMATION ONLY, DEFINITION CHANGE AND NO
DEVELOPMENT REQUIRED
NA as No Change
NA as No Change
SWIFT Change Request ID: CR 001125
Definition Change
E2
CASHMOVE
Overview
Add code TXBL to qualifier TAXP in field 22F, in sequences E1 and E2 of MT
564 and in sequences D1 and D2 of MT 566.
To reinstate the code deleted erroneously in SR 2016.
MT565
NA
NA
Implementation of this new code value is mandatory for inbound and
outbound messages when allowed by market practice or service level
agreement (SLA) between the sender and the receiver.
Requirement
Req 4.4
MT566
MT567
D1
SECMOVE
Addition of the Taxable code TXBL to the Issuer / Offeror Taxability Indicator
qualifier :22F::TXAP, ie :22F::TXAP//TXBL
D2
CASHMOVE
TXBL Taxable
The securities proceeds are taxable.
NA
As part of the format change from 22H to 22F in SR2016 to allow for the use
of a Data Source Scheme and tax codes in the field, code TXBL was
inadvertently left out of the SWIFT User Handbook. The code could still be
used but wasn’t documented. This change request adds the code back in but
there should be no impact on what is allowed already
Definition Change
NA
Update in definition to the CODES usage for Issuer / Offeror Taxability
Indicator field :22F::TXAP
MT568
NA
NA
MT564
Definition Change
E
CAOPTN
If Qualifier is TXAP and , Data Source Scheme is must be used present, for
example, IRSX in the United States, . The then the lists of Issuer/Offeror
Taxability codes that to may be used in Indicator are provided in the
document titled "TXAP Taxability Codes" that is available on the SMPG
website at www.smpg.info.
SWIFT Change Request ID: CR 001127
Overview
MT565
NA
NA
Definition Change
D
CACONF
Modify the definition of qualifier PROR in field 92a, in sequence E of MT 564
and in sequence D of MT 566.
To clarify the use of the PROR rate.
Req 4.5
MT566
Requirement
This is a change of definition and does not impact the message structure.
MT567
MT568
NA
NA
NA
Change in definition of the Pro-Ration Rate qualifier :92A::PROR
NA
PROR Pro-Ration Rate
Percentage Proportionate allocation used for the offer of securities accepted
by the offeror/issuer.
Page 13 of 36
Global: 2017 SWIFT Standards Release
SWIFT
CITI Requirement
Messages
No
Effected
Mandatory /
Optional /
Message Sequence Nature of Change
Definition Change
Client Impact
Message Sample (Future State)
MT564
Req 4.6
MT564
Optional
E
CAOPTN
MT565
NA
NA
MT566
NA
NA
MT567
NA
NA
:16R:GENL
:20C::CORP//39701234567
:20C::SEME//39701234567/001
:23G:NEWM
:22F::CAEV//PRIO
:22F::CAMV//VOLU
:98C::PREP//20170123120555
:25D::PROC//ENTL
:16S:GENL
:16R:USECU
:35B:ISIN AU000000LCD0
LATITUDE CONSOLIDATED LIMITED
ORDINARY SHARES
:16R:FIA
:94B::PLIS//EXCH/XASX
:16S:FIA
:16R:ACCTINFO
:97A::SAFE//600000000
:94F::SAFE//CUST/ACLRAU2S
:93B::ELIG//UNIT/1,
:16S:ACCTINFO
:16S:USECU
:16R:CADETL
:98A::RDTE//20170120
:22F::ADDB//CAPA
:16S:CADETL
:16R:CAOPTN
:13A::CAON//001
:22F::CAOP//NOAC
:17B::DFLT//Y
:98C::RDDT//20170224120000
:69J::PWAL//UKWN
:16S:CAOPTN
If this new code is present on the outbound messages from Citi, clients can
:16R:CAOPTN
elect using a cash amount. This should either be done via the existing process
SWIFT Change Request ID: CR 001108
:13A::CAON//002
or through the new features in the MT565 for instructing cash amounts as
:22F::CAOP//SECU
outlined in requirement 4.7
Overview
:22F::OPTF//QCAS
:17B::DFLT//N
New SMPG Guidelines
Add code QCAS to qualifier OPTF, in field 22F, in sequence E of MT 564.
:98C::RDDT//20170224120000
Add new optional, non-repetitive amount field 19B with a new non-repetitive
:69J::PWAL//UKWN
5.6 Instructing in Cash Amount
qualifier QCAS to sequence D of MT 565.
:16R:SECMOVE
In the UK and IE (and Australia and New Zealand), there are subscription
In sequence D of MT 565, change the presence of field 36a to optional and
:22H::CRDB//CRED
offers (also called “share purchase plan” in Australia) where the account owner
create a new network validation rule to mandate the presence of either field
:35B:ISIN AU000000LCD0
needs to indicate to the account servicer the amount of cash they intend to
36a or field 19B.
LATITUDE CONSOLIDATED LIMITED
subscribe for.
Amend the definition of code DQUA used with qualifiers PEND, REJT and
ORDINARY SHARES
The following market practice must be followed to be able to instruct in cash
CANP in field 24B, in sequence A2a of MT 567.
:90E::PRPP//UKWN
amount:
:98A::PAYD//20170224
In the MT564, the new code QCAS (Instruct Cash Amount) has been created
To be able to process instructions with quantity expressed as a cash amount.
:98A::AVAL//20170301
in Sequence E in the :22F::OPTF Option Features Qualifier. This code must
:16S:SECMOVE
only be used when instructions in cash are required.
In addition to the changes to the MT 564 and MT 565, in the MT 567, an
:16S:CAOPTN
In the MT565, in Sequence D, a new optional non repetitive field 19B with a nonadditional reason code DQCS is created for the PEND, REJT, and CANP
:16R:ADDINFO
repetitive QCAS (Cash Amount to be instructed) amount qualifier has been
status and two new reason codes DQCC and DQAM are created for the
:70E::TXNR//DEPO-103/NOM-000100
created.
REJT status.
:70E::ADTX//23/01/17. SHARE PURCHASE PLAN (SPP)
Within Sequence D, if the quantity of securities instructed (field :36a::QINS) is
WHEREBY ELIGIBLE SHAREHOLDERS HAVE
present to show the amount of securities to which the instruction applies, then
Requirement
THE OPPORTUNITY TO PURCHASE UP TO A
the Instructed Amount field :19B::QCAS is not allowed and conversely.
MAXIMUM OF AUD15,000 WORTH OF
In the MT567, a number of new reason codes have been added to allow for
SHARES. NEW SHARES RANK PARI PASSU
Addition of the new Instruct Cash Amount QCAS code to the Options Feature
rejection of cash instructions. In Sequence A2a in field :24B: Reason Code, a
WITH EXISTING SHARES.
Indicator qualifier :22F::OPTF, ie :22F::OPTF//QCAS
new code value DQCS (Disagreement on Cash Amount) has been added to be
:70E::ADTX//THE ISSUE PRICE WILL BE AT A
used with the PEND, REJT and CANP qualifiers and new reason code values
DISCOUNT OF 20PCT TO THE VOLUME
QCAS Instruct Cash Amount
DQCC (Currency Rejection), DQCS (Amount Rejection) and DQAM
WEIGHTED AVERAGE PRICE (VWAP) OVER
Feature whereby the holder should only instruct a cash amount.
(Instruction Type Rejection) has been added to be used with the REJT
5 BUSINESS DAYS UP TO THE ISSUE
qualifiers.
DATE OF THE NEW SHARES. THE COMPANY
IS SEEKING TO RAISE APPROXIMATELY
AUD850,000 AS PART OF THIS
OFFER.ELIGIBLE HOLDERS MAY APPLY
FOR ONE OF THE FOLLOWING OPTIONS:
(A) AUD 500. (B) AUD 1,000.
:70E::ADTX//(C) AUD 2,500. (D) AUD 5,000. (E)
AUD 7,500. (F) AUD 10,000. (G) AUD
12,500. OR (H) AUD 15,000. AS PER
THE CITI SERVICEWATCH AUSTSW00609,
WE ARE ABLE TO
:70E::ADTX//EXTEND THIS OFFER, TO ELIGIBLE
HOLDERS, UNDER ASIC CLASS ORDER
(09/425) AND (10/105). SHAREHOLDERS
WHO WILL BE ELIGIBLE TO APPLY FOR
SHARES UNDER THE OFFER ARE THOSE
THAT ARE: (A). RECORDED ON THE
COMPANY’S REGISTER AS AT THE RECORD
DATE, AND (B) HAVE AN ADDRESS IN
AUSTRALIA OR NEW ZEALAND.
:70E::ADTX//THE COMPANY HAS ADVISED THAT ONLY
UNDERLYING BENEFICIAL HOLDERS WITH
A RESIDENTAL ADDRESS IN AUSTRALIA
OR NEW ZEALAND ARE ELIGIBLE TO
PARTICIPATE UNDER THE OFFER.
CLIENTS ACCEPTING THE OFFER MUST
ENSURE THAT THEIR ACCEPTANCE
COMPLIES WITH ALL APPLICABLE
FOREIGN LAWS.
:70E::ADTX//THE OFFER UNDER THE SPP NEEDS TO
COMPLY WITH THE LIMIT IN ASIC CLASS
ORDER (CO09/425). UNDER THE CLASS
Page 14 of 36
ORDER,
:95P::MEOR//CITIAU3X
:16S:ADDINFO
Message Sample (Current State)
AUD 7,500. (F) AUD 10,000. (G) AUD
12,500. OR (H) AUD 15,000. AS PER
THE CITI SERVICEWATCH AUSTSW00609,
WE ARE ABLE TO
:70E::ADTX//EXTEND THIS OFFER, TO ELIGIBLE
HOLDERS, UNDER ASIC CLASS ORDER
(09/425) AND (10/105). SHAREHOLDERS
WHO WILL BE ELIGIBLE TO APPLY FOR
Message UNDER
Sample THE
(Future
State)
SHARES
OFFER
ARE THOSE
THAT ARE: (A). RECORDED ON THE
COMPANY’S REGISTER AS AT THE RECORD
DATE, AND (B) HAVE AN ADDRESS IN
AUSTRALIA OR NEW ZEALAND.
:70E::ADTX//THE COMPANY HAS ADVISED THAT ONLY
UNDERLYING BENEFICIAL HOLDERS WITH
A RESIDENTAL ADDRESS IN AUSTRALIA
OR NEW ZEALAND ARE ELIGIBLE TO
PARTICIPATE UNDER THE OFFER.
CLIENTS ACCEPTING THE OFFER MUST
ENSURE THAT THEIR ACCEPTANCE
COMPLIES WITH ALL APPLICABLE
FOREIGN LAWS.
:70E::ADTX//THE OFFER UNDER THE SPP NEEDS TO
COMPLY WITH THE LIMIT IN ASIC CLASS
ORDER (CO09/425). UNDER THE CLASS
ORDER,
:95P::MEOR//CITIAU3X
:16S:ADDINFO
Global: 2017 SWIFT Standards Release
SWIFT
CITI Requirement
Messages
No
Effected
MT568
Mandatory /
Optional /
Message Sequence Nature of Change
Definition Change
NA
Client Impact
NA
Page 15 of 36
Message Sample (Current State)
Global: 2017 SWIFT Standards Release
SWIFT
CITI Requirement
Messages
No
Effected
Mandatory /
Optional /
Message Sequence Nature of Change
Definition Change
Client Impact
Message Sample (Future State)
SWIFT Change Request ID: CR 001108
MT564
NA
NA
Overview
Add code QCAS to qualifier OPTF, in field 22F, in sequence E of MT 564.
Add new optional, non-repetitive amount field 19B with a new non-repetitive
qualifier QCAS to sequence D of MT 565.
In sequence D of MT 565, change the presence of field 36a to optional and
create a new network validation rule to mandate the presence of either field
36a or field 19B.
Amend the definition of code DQUA used with qualifiers PEND, REJT and
CANP in field 24B, in sequence A2a of MT 567.
To be able to process instructions with quantity expressed as a cash amount.
MT565
Req 4.7
Optional
D
CAINST
MT566
NA
NA
MT567
NA
NA
In addition to the changes to the MT 564 and MT 565, in the MT 567, an
additional reason code DQCS is created for the PEND, REJT, and CANP
status and two new reason codes DQCC and DQAM are created for the
REJT status.
MT565
:16R:GENL
:20C::CORP//39701234567
Requirement
:20C::SEME//9876543210
:23G:NEWM
Change in the Mandatory / Optional nature of Quantity of Securities
:22F::CAEV//PRIO
Instructed field :36a::QINS from Mandatory to Optional. This makes the whole
:98A::PREP//20170130
36a Quantity of Financial Instrument field optional as both qualifiers QINS and
:16S:GENL
COND (Conditional Quantity) are now optional.
:16R:USECU
:35B:ISIN AU000000LCD0
Addition of new Instructed Amount field 19B with qualifier QCAS, Instructed Clients can elect using a cash amount where indicated by the new code being
LATITUDE CONSOLIDATED LIMITED
present on the outbound MT564 messages from Citi as outlined in requirement
Amount.
ORDINARY SHARES
4.6
:16R:FIA
43. Field 19B: Amount: Instructed Amount
:11A::DENO//AUD
This field should be used when field :22F::OPTF//QCAS is present in the
:16S:FIA
MT564 to advise clients they should elect using a Cash Amount (see Network
FORMAT
:16R:ACCTINFO
Validation Rule C5 addition). However, for those clients who cannot move to
Option B :4!c//3!a15d (Qualifier)(Currency Code)(Amount)
:97A::SAFE//600000000
this new process, existing processes via free text should remain in place.
:93B::ELIG//UNIT/1,
PRESENCE
:16S:ACCTINFO
Conditional (see rule C5) in mandatory sequence D
:16S:USECU
:16R:CAINST
QUALIFIER
:13A::CAON//002
(Error code(s): T89)
:22F::CAOP//SECU
Order M/O Qualifier R/N CR Options Description
:19B::QCAS//AUD15000,00
1
O
QCAS
N
B
Instructed Amount
:70E::INST//NARRATIVE
:16S:CAINST
DEFINITION
This qualified generic field specifies:
QCAS Instructed Amount
Cash amount to be instructed.
NETWORK VALIDATED RULES
The integer part of Amount must contain at least one digit. A decimal comma
is mandatory and is included in the maximum length. The number of digits
following the comma must not exceed the maximum allowed for the specified
currency (Error code(s): C03,T40,T43).
Currency Code must be a valid ISO 4217 currency code (Error code(s): T52).
Addition of new Network Validation Rule C5
MT568
NA
NA
Definition
In sequence D, if field :36a::QINS is present, then field :19B::QCAS is not
allowed and if field :36a::QINS is not present, then field :19B::QCAS is
mandatory (Error code(s): E62).
Page 16 of 36
Message Sample (Current State)
Global: 2017 SWIFT Standards Release
SWIFT
CITI Requirement
Messages
No
Effected
Mandatory /
Optional /
Message Sequence Nature of Change
Definition Change
Client Impact
Message Sample (Future State)
SWIFT Change Request ID: CR 001108
MT564
NA
NA
Overview
Add code QCAS to qualifier OPTF, in field 22F, in sequence E of MT 564.
Add new optional, non-repetitive amount field 19B with a new non-repetitive
qualifier QCAS to sequence D of MT 565.
In sequence D of MT 565, change the presence of field 36a to optional and
create a new network validation rule to mandate the presence of either field
36a or field 19B.
Amend the definition of code DQUA used with qualifiers PEND, REJT and
CANP in field 24B, in sequence A2a of MT 567.
To be able to process instructions with quantity expressed as a cash amount.
MT565
NA
NA
MT567
In addition to the changes to the MT 564 and MT 565, in the MT 567, an
additional reason code DQCS is created for the PEND, REJT, and CANP
status and two new reason codes DQCC and DQAM are created for the
REJT status.
Requirement
Addition of new Disagreement on Cash Amount code DQCS to the Pending
Reason qualifier :24B::PEND, ie :24B::PEND//DQCS
DQCS Disagreement on Cash Amount
Unrecognised or invalid instructed cash amount.
Req 4.8
MT566
NA
NA
Addition of new Instruction Type Rejection code DQAM to the Rejection
Reason qualifier :24B::REJT, ie :24B::REJT//DQAM
Clients may receive these possible status updates if incorrectly electing on a
cash amount
DQAM Instruction Type Rejection
Invalid use of instructed amount (QCAS) or of instructed quantity (QINS)
qualifiers.
Addition of new Currency Rejection code DQCC to the Rejection Reason
qualifier :24B::REJT, ie :24B::REJT//DQCC
DQCC Currency Rejection
Invalid instructed currency.
MT567
Optional
A2a
REAS
Addition of new Amount Rejection code DQCS to the Rejection Reason
qualifier :24B::REJT, ie :24B::REJT//DQCS
DQCS Amount Rejection
Unrecognised or invalid instructed cash amount.
Addition of new Disagreement on Cash Amount code DQCS to the
Cancellation Pending Reason qualifier :24B::CANP, ie :24B::CANP//DQCS
DQCS Disagreement on Cash Amount
Unrecognised or invalid instructed cash amount.
Update in definition of the Incorrect Certification code CERT to the Pending
Reason qualifier :24B::PEND, ie :24B::PEND//CERT
MT568
NA
NA
CERT Incorrect Certification
The Instruction is rejected since the provided certification is incorrect or
incomplete.
Page 17 of 36
:16R:GENL
:20C::CORP//39701234567
:20C::SEME//39701234567/003
:23G:INST
:22F::CAEV//PRIO
:98C::PREP//20170130163015
:16R:LINK
:20C::CORP//39701234567
:16S:LINK
:16R:STAT
:25D::IPRC//REJT
:16R:REAS
:24B::REJT//DQCS
:16S:STAT
:16S:GENL
:16R:CADETL
:13A::CAON//001
:22F::CAOP//CASH
:97A::SAFE//1234567890
:35B:ISIN ES0144580Y14
IBERDROLA SA
SHS
:36B::STAQ//UNIT/18083023,
:93B::ELIG//UNIT/18083023,
:93B::INBA//UNIT/18083023,
:93B::UNBA//UNIT/0,
:16S:CADETL
:16R:ADDINFO
:70E::ADTX///REPORTING BANK/CITIBANK LONDON
:16S:ADDINFO
Message Sample (Current State)
Global: 2017 SWIFT Standards Release
SWIFT
CITI Requirement
Messages
No
Effected
Mandatory /
Optional /
Message Sequence Nature of Change
Definition Change
Client Impact
Message Sample (Future State)
Message Sample (Current State)
SWIFT Change Request ID: CR 001098
MT564
Req 4.9
NA
NA
MT565
NA
NA
MT566
NA
NA
MT567
Mandatory
A2a
REAS
Overview
Two options:
1) In MT 564, sequence E, field 22F, swap the definitions of code BOIS, used
Clients will no longer receive the BOIS status update and will receive the FULL
with qualifier OPTF, and code FULL, used with qualifier CETI.
one instead if applicable.
2) In MT 567, sequence A2a, field 24B, qualifier PEND and qualifier REJT,
remove code BOIS and replace it with code FULL.
New SMPG Guidelines
To solve inconsistencies with codes that request beneficiary owner
3.17 Beneficiary Owner Level and Details Disclosure for Instruction
information from the account owner.
Processing
The maintenance working group selected solution 2 for the implementation,
Two codes are present in the Notification message for the account servicer to
leaving the MT 564 untouched.
advise the account owner about beneficiary owner information requirements in
his instruction(s). Both codes correspond to 2 different scenarios:
This change is mandatory on inbound and outbound messages as it involves 1) Beneficiary Owner Instruction [:22F::OPTF//BOIS <>
the deletion of a code and its replacement by a new one.
CorporateActionOptionsDetails/OptionFeatures/Code/BOIS]:
The account servicer requests the account owner to instruct at the level of
Requirement
beneficial ownership and not at omnibus level. In other words, the account
owner must create as many instructions as the number of beneficiary owner’s
Deletion of the Pending Beneficiary Owner Details code BOIS to the Pending instructions. This does not mean that a disclosure is necessary.
NA as No Change
Reason qualifier :24B::PEND, ie :24B::PEND//BOIS
2) Full Beneficial Owner Breakdown [:22F::CETI//FULL <>
CorporateActionOptionsDetails/CertificationBreakdownType/Code/FULL]:
BOIS Pending Beneficiary Owner Details
The holder of the security has to provide his beneficiary Owner details for
Pending receipt of beneficiary owner details.
disclosure/instruction purposes. This is typically done by using the Beneficial
Owner Details [BENODET] sequence in the Instruction message. Validation of
Addition of new Pending Beneficiary Owner Details code FULL to the Pending scenario 1 is not feasible for the account servicer as it might not have a view on
Reason qualifier :24B::PEND, ie :24B::PEND//FULL
the omnibus account. Therefore, there is no related reason code defined in the
Instruction Status Advice message. Scenario 2 is simpler as the information
FULL Pending Beneficiary Owner Details
should be explicitly mentioned in the beneficial owner details of the instruction.
Pending receipt of beneficiary owner details.
In case the account owner did not comply with the request, the account
servicer can reject the instruction using the “Pending Beneficiary Owner
Deletion of the Missing Beneficiary Owner Details code BOIS to the Rejection Details” reason code [:24B::PEND//FULL or :24B::REJT//FULL <>
Reason qualifier :24B::REJT, ie :24B::REJT//BOIS
InstructionProcessingStatus/Pending/Reason/ReasonCode/FULL or
InstructionProcessingStatus/Rejected/Reason/ReasonCode/FULL] in the
BOIS Missing Beneficiary Owner Details
Instruction Status Advice message.
Rejected due to missing beneficiary owner details.
Addition of new Missing Beneficiary Owner Details code FULL to the
Rejection Reason qualifier :24B::PEND, ie :24B::REJT//FULL
MT568
NA
NA
FULL Missing Beneficiary Owner Details
Rejected due to missing beneficiary owner details.
Page 18 of 36
NA as No Change
Global: 2017 SWIFT Standards Release
SWIFT
CITI Requirement
Messages
No
Effected
FX
MT300
Mandatory /
Optional /
Message Sequence Nature of Change
Definition Change
NA
NA
Client Impact
Message Sample (Future State)
Message Sample (Current State)
Non-Deliverable Forwards will no longer be instructed using the AFWD Scope
of Operation and AFWD will now only apply to Forward Currency Contracts
(FCC) or Hedge
:15A:
:20:1234567890A
:22A:NEWT
:94A:ANDF
:17O:Y
:83J:/ACCT/600000000
/NAME/ABC ACCOUNT
:82J:/ABIC/ABCDGB2L
/NAME/ABC COMPANY LTD
:87J:/ABIC/EFGHGB2L
/NAME/EFG COMPANY LONDON
:30U:20160210
:15B:
:30T:20160210
:30V:20160102
:36:0,8609
:32B:GBP15987337,73
:53J:/ABIC/ZYXWGB2LXXX
/ACCT/0987654321
/NAME/ZYX COMPANY
:33B:EUR18570493,36
:57J:/ABIC/VUTSGB2LXXX
/NAME/VUT COMPANY
:58J:/ABIC/VUTSGB2LXXX
/ACCT/1234567
/NAME/VUT COMPANY
:15A:
:20:1234567890A
:22A:NEWT
:94A:AFWD
:17O:Y
:83J:/ACCT/600000000
/NAME/ABC ACCOUNT
:82J:/ABIC/ABCDGB2L
/NAME/ABC COMPANY LTD
:87J:/ABIC/EFGHGB2L
/NAME/EFG COMPANY LONDON
:15B:
:30T:20160210
:30V:20160102
:36:0,8609
:32B:GBP15987337,73
:53J:/ABIC/ZYXWGB2LXXX
/ACCT/0987654321
/NAME/ZYX COMPANY
:33B:EUR18570493,36
:57J:/ABIC/VUTSGB2LXXX
/NAME/VUT COMPANY
:58J:/ABIC/VUTSGB2LXXX
/ACCT/1234567
/NAME/VUT COMPANY
SWIFT Change Request ID: CR 000965
Overview
Add structured fields for support of non-deliverable forward (NDF) opening
and valuation instruction messages. Retire use of NDF codes in field 72, in
sequence C.
NDF trades have, until now, been instructed using codes in a free format
field, which has led to manual processing and errors. This CR replaces these
codes with specific structured and validated fields.
Mandatory impact on users of the MT 304 for NDFs and cash-settled
forwards.
MT304
Mandatory
Sequence A
Requirement
Addition of new Scope of Operation code ANDF, Non-Deliverable Forward” to
field 94A, ie :94A:ANDF
ANDF Non-Deliverable Forward
Indicates that the foreign exchange is a non-deliverable forward (NDF). The
trade will be cash-settled in the agreed settlement currency.
Change of definition to the Open Indicator field 17O
Req 5.0
MT321
NA
NA
Definition
This field specifies whether the instruction is for the opening of an FCC or
NDF or for the closing of an FCC or valuation of an NDF.
Change of definition to the Open Indicator field 17O with indicator N (No)
Definition
The partial or final close of an FCC or the valuation of an NDF
Change of definition to the Open Indicator field 17O with indicator Y (Yes)
Definition
The opening of an FCC or of an NDF
Change of definition to the Final Close Indicator field 17F
MT380
NA
NA
Definition
This field specifies whether the instruction is for the final close or the partial
close of an FCC or NDF.
Change of definition to the Final Close Indicator field 17F with indicator N (No)
Definition
The partial close of an FCC or NDF
Change of definition to the Final Close Indicator field 17F with indicator Y
(Yes)
MT381
NA
NA
Definition
The final close of an FCC or NDF
Page 19 of 36
Global: 2017 SWIFT Standards Release
SWIFT
CITI Requirement
Messages
No
Effected
Mandatory /
Optional /
Message Sequence Nature of Change
Definition Change
Client Impact
Message Sample (Future State)
Message Sample (Current State)
SWIFT Change Request ID: CR 000965
Overview
MT300
NA
NA
Add structured fields for support of non-deliverable forward (NDF) opening
and valuation instruction messages. Retire use of NDF codes in field 72, in
sequence C.
NDF trades have, until now, been instructed using codes in a free format
field, which has led to manual processing and errors. This CR replaces these
codes with specific structured and validated fields.
Mandatory impact on users of the MT 304 for NDFs and cash-settled
forwards.
See above and
Requirement
Update to the definition of Network Validation Rule C2
In sequence A, the presence of fields 17O and 17N depends on field 94A as
follows (Error code(s): D03):
MT304
Mandatory
Sequence A
Sequence A if field 94A is ... AFWD
Sequence A then field 17O is ... Mandatory
Sequence A and field 17N is ... Mandatory
Sequence A if field 94A is ... ANDF
Sequence A then field 17O is ... Mandatory
Sequence A and field 17N is ... Not Allowed
Sequence A if field 94A is ... ASET
Sequence A then field 17O is ... Not Allowed
Sequence A and field 17N is ... Not Allowed
Update to the definition of Network Validation Rule C4
The presence of sequence D depends on fields 94A and field 17O as follows
(Error code(s): D23):
Req 5.1
MT321
NA
NA
Sequence A if field 94A 17O is ... AFWD
Sequence A and if field 17O Then sequence D is ... N
Then sequence D is ... Mandatory
Non-Deliverable Forwards will no longer be instructed using the AFWD Scope
of Operation and AFWD will now only apply to Forward Currency Contracts
(FCC) or Hedge
Sequence A if field 94A 17O is ... AFWD Y
Sequence A and if field 17O Then sequence D is ... Y Not Allowed
Then sequence D is ... Not Allowed
:15A:
:20:1234567890A
:22A:NEWT
:94A:ANDF
:17O:N
:17F:Y
:83J:/ACCT/600000000
/NAME/ABC ACCOUNT
:82J:/ABIC/ABCDGB2L
/NAME/ABC COMPANY LTD
:87J:/ABIC/EFGHGB2L
/NAME/EFG COMPANY LONDON
:30U:20160210
:15B:
:30T:20160210
:30V:20160102
:36:0,8609
:32B:GBP15987337,73
:53J:/ABIC/ZYXWGB2LXXX
/ACCT/0987654321
/NAME/ZYX COMPANY
:33B:EUR18570493,36
:57J:/ABIC/VUTSGB2LXXX
/NAME/VUT COMPANY
:58J:/ABIC/VUTSGB2LXXX
/ACCT/1234567
/NAME/VUT COMPANY
Sequence A if field 94A 17O is ... ANDF
Sequence A and if field 17O Then sequence D is ... N
Then sequence D is ... Optional
Sequence A if field 94A 17O is ... ANDF
Sequence A and if field 17O Then sequence D is ... Y
Then sequence D is ... Not allowed
Sequence A if field 94A 17O is ... ASET Not present
Sequence A and if field 17O Then sequence D is ... Not applicable allowed
Then sequence D is ... Not Allowed
MT380
NA
NA
Update to the definition of Network Validation Rule C5
The presence of sequence E depends on fields 17F and 17N as follows
(Error code(s): D29)
Sequence A if field 17F is ... Y
Sequence A and field 17N is ... Y
Then sequence E is ... Mandatory
Sequence A if field 17F is ... Y
Sequence A and field 17N is ... N
Then sequence E is ... Not allowed
Sequence A if field 17F is ... Y
Sequence A and field 17N is ... Not Present
Then sequence E is ... Optional
MT381
NA
NA
:15A:
:20:1234567890A
:22A:NEWT
:94A:ANDF
:17O:N
:17F:N
:83J:/ACCT/600000000
/NAME/ABC ACCOUNT
:82J:/ABIC/ABCDGB2L
/NAME/ABC COMPANY LTD
:87J:/ABIC/EFGHGB2L
/NAME/EFG COMPANY LONDON
:30U:20160210
:15B:
:30T:20160210
:30V:20160102
:36:0,8609
:32B:GBP15987337,73
:53J:/ABIC/ZYXWGB2LXXX
/ACCT/0987654321
/NAME/ZYX COMPANY
:33B:EUR18570493,36
:57J:/ABIC/VUTSGB2LXXX
/NAME/VUT COMPANY
:58J:/ABIC/VUTSGB2LXXX
/ACCT/1234567
/NAME/VUT COMPANY
Sequence A if field 17F is ... N
Sequence A and field 17N is ... Y or N or not present
Then sequence E is ... Not allowed
Sequence A if field 17F is ... Not present
Sequence A and field 17N is ... Y or N or not present
Then sequence E is ... Not allowed
Page 20 of 36
The rules are not changing for the current state so the use of the Network
Validation Rules remain as is for Forward Currency Contract and Settlement
Contract instructions
Global: 2017 SWIFT Standards Release
SWIFT
CITI Requirement
Messages
No
Effected
Mandatory /
Optional /
Message Sequence Nature of Change
Definition Change
Client Impact
Message Sample (Future State)
Message Sample (Current State)
SWIFT Change Request ID: CR 000965
MT300
NA
NA
Overview
Add structured fields for support of non-deliverable forward (NDF) opening
and valuation instruction messages. Retire use of NDF codes in field 72, in
sequence C.
MT304
Mandatory
Sequence A
NDF trades have, until now, been instructed using codes in a free format
field, which has led to manual processing and errors. This CR replaces these
codes with specific structured and validated fields.
Mandatory impact on users of the MT 304 for NDFs and cash-settled
forwards.
Requirement
Deletion of Sender to Receiver Information field 72, line 1 and 2-6, code
SETC
Req 5.2
MT321
NA
NA
SETC
Followed by the Settlement Currency of a Non Deliverable trade.
Addition of new Settlement Currency field 32E
17. Field 32E: Settlement Currency
FORMAT
Option E 3!a (Currency)
MT380
NA
NA
PRESENCE
Conditional (see rule C8) in mandatory sequence A
DEFINITION
This field specifies the settlement currency of the non-deliverable trade.
MT381
NA
NA
:15A:
:20:1234567890A
:22A:NEWT
:94A:ANDF
:17O:Y
:83J:/ACCT/600000000
/NAME/ABC ACCOUNT
:82J:/ABIC/ABCDGB2L
/NAME/ABC COMPANY LTD
:87J:/ABIC/EFGHGB2L
/NAME/EFG COMPANY LONDON
The /SETC/ code can no longer be used in the Sender to Receiver Information :32E::GBP
field 72 and can optionally be used in the new 32E Settlement Currency field
:30U:20160210
instead.
:15B:
:30T:20160210
This new field can only be used when the Scope of Operation is ANDF
:30V:20160102
:36:0,8609
:32B:GBP15987337,73
:53J:/ABIC/ZYXWGB2LXXX
/ACCT/0987654321
/NAME/ZYX COMPANY
:33B:EUR18570493,36
:57J:/ABIC/VUTSGB2LXXX
/NAME/VUT COMPANY
:58J:/ABIC/VUTSGB2LXXX
/ACCT/1234567
/NAME/VUT COMPANY
NETWORK VALIDATED RULES
Currency must be a valid ISO 4217 currency code (Error code(s): T52).
The codes XAU, XAG, XPD and XPT are not allowed, as these are codes for
commodities for which the category 6 commodities messages must be used
(Error code(s): C08).
Page 21 of 36
:15A:
:20:1234567890A
:22A:NEWT
:94A:AFWD
:17O:Y
:83J:/ACCT/600000000
/NAME/ABC ACCOUNT
:82J:/ABIC/ABCDGB2L
/NAME/ABC COMPANY LTD
:87J:/ABIC/EFGHGB2L
/NAME/EFG COMPANY LONDON
:15B:
:30T:20160210
:30V:20160102
:36:0,8609
:32B:GBP15987337,73
:53J:/ABIC/ZYXWGB2LXXX
/ACCT/0987654321
/NAME/ZYX COMPANY
:33B:EUR18570493,36
:57J:/ABIC/VUTSGB2LXXX
/NAME/VUT COMPANY
:58J:/ABIC/VUTSGB2LXXX
/ACCT/1234567
/NAME/VUT COMPANY
:15C:
:72:/SETC/GBP
Global: 2017 SWIFT Standards Release
SWIFT
CITI Requirement
Messages
No
Effected
MT300
Mandatory /
Optional /
Message Sequence Nature of Change
Definition Change
NA
NA
Client Impact
Message Sample (Future State)
Message Sample (Current State)
SWIFT Change Request ID: CR 000965
Overview
Add structured fields for support of non-deliverable forward (NDF) opening
and valuation instruction messages. Retire use of NDF codes in field 72, in
sequence C.
Req 5.3
MT304
Mandatory
Sequence A
MT321
NA
NA
MT380
NA
NA
:15A:
:20:1234567890A
:22A:NEWT
NDF trades have, until now, been instructed using codes in a free format
:94A:ANDF
field, which has led to manual processing and errors. This CR replaces these
:17O:Y
codes with specific structured and validated fields.
:83J:/ACCT/600000000
/NAME/ABC ACCOUNT
Mandatory impact on users of the MT 304 for NDFs and cash-settled
:82J:/ABIC/ABCDGB2L
forwards.
/NAME/ABC COMPANY LTD
:87J:/ABIC/EFGHGB2L
Requirement
/NAME/EFG COMPANY LONDON
The /VALD/ code can no longer be used in the Sender to Receiver Information
:30U:20160210
Deletion of Sender to Receiver Information field 72, line 1 and 2-6, code
field 72 and can optionally be used in the new 30U Valuation Date field instead.
:15B:
VALD
:30T:20160210
This new field can only be used when the Scope of Operation is ANDF and this
:30V:20160102
VALD
field is mandatory for ANDF instructions
:36:0,8609
Followed by the Valuation (Fixing) Date of a Non Deliverable trade.
:32B:GBP15987337,73
:53J:/ABIC/ZYXWGB2LXXX
Addition of new Valuation Date field 30U
/ACCT/0987654321
/NAME/ZYX COMPANY
18. Field 30U: Valuation Date
:33B:EUR18570493,36
:57J:/ABIC/VUTSGB2LXXX
FORMAT
/NAME/VUT COMPANY
Option U 8!n (Date)
:58J:/ABIC/VUTSGB2LXXX
/ACCT/1234567
PRESENCE
/NAME/VUT COMPANY
Conditional (see rule C8) in mandatory sequence A
DEFINITION
This field specifies the valuation date for a non-deliverable trade.
NETWORK VALIDATED RULES
Date must be a valid date expressed as YYYYMMDD (Error code(s): T50).
MT381
NA
NA
Page 22 of 36
:15A:
:20:1234567890A
:22A:NEWT
:94A:AFWD
:17O:Y
:83J:/ACCT/600000000
/NAME/ABC ACCOUNT
:82J:/ABIC/ABCDGB2L
/NAME/ABC COMPANY LTD
:87J:/ABIC/EFGHGB2L
/NAME/EFG COMPANY LONDON
:15B:
:30T:20160210
:30V:20160102
:36:0,8609
:32B:GBP15987337,73
:53J:/ABIC/ZYXWGB2LXXX
/ACCT/0987654321
/NAME/ZYX COMPANY
:33B:EUR18570493,36
:57J:/ABIC/VUTSGB2LXXX
/NAME/VUT COMPANY
:58J:/ABIC/VUTSGB2LXXX
/ACCT/1234567
/NAME/VUT COMPANY
:15C:
:72:/VALD/20160210
Global: 2017 SWIFT Standards Release
SWIFT
CITI Requirement
Messages
No
Effected
Mandatory /
Optional /
Message Sequence Nature of Change
Definition Change
Client Impact
Message Sample (Future State)
Message Sample (Current State)
SWIFT Change Request ID: CR 000965
MT300
NA
NA
Overview
Add structured fields for support of non-deliverable forward (NDF) opening
and valuation instruction messages. Retire use of NDF codes in field 72, in
sequence C.
NDF trades have, until now, been instructed using codes in a free format
field, which has led to manual processing and errors. This CR replaces these
codes with specific structured and validated fields.
Mandatory impact on users of the MT 304 for NDFs and cash-settled
forwards.
MT304
Mandatory
Sequence A
Requirement
Deletion of Sender to Receiver Information field 72, line 1 and 2-6, code
SRCE
SRCE
Followed by Settlement Rate Source for a cross currency Non Deliverable
trade.
Addition of new Valuation Date field 30U
19. Field 14S: Settlement Rate Source
Req 5.4
MT321
NA
NA
FORMAT
Option S 3!a2n[/4!n/4!c] (Rate Source)(Time and Location)
PRESENCE
Conditional (see rule C8) in mandatory sequence A
DEFINITION
This field specifies the rate source for the settlement of the non-deliverable
trade and includes an optional time and location for the settlement.
NETWORK VALIDATED RULES
Time must be a valid time expressed as HHMM (Error code(s): T38).
A maximum of two occurrences of this field is allowed (Error code(s): T10).
MT380
NA
NA
MT381
NA
NA
USAGE RULES
The values to be used for the settlement rate source are published in Annex
A of the 1998 FX and Currency Option Definitions (the FX definitions, as
published by the International Swaps and Derivatives Association, Inc., the
Emerging Markets Traders Association and the Foreign Exchange
Committee) as amended and supplemented from time to time.
Rate Source must be "EMT00" for confirmations where the terms are
governed by an EMTA template.
For some cross currency NDFs two separate settlement rate sources may be
quoted, in which case the fields must appear in alphabetical order of Rate
Source.
In subfield Time and Location, Location (4!c) consists of a two character ISO
country code and a two character location code. The location code is made
up as follows:
• if the location name is one word, then the location code is the first two letters
of the location name
• if the location name consists of at least two words, then the location code is
the first letter of the first word followed by the first letter of the second word
:15A:
:20:1234567890A
:22A:NEWT
:94A:ANDF
:17O:Y
:83J:/ACCT/600000000
/NAME/ABC ACCOUNT
:82J:/ABIC/ABCDGB2L
/NAME/ABC COMPANY LTD
:87J:/ABIC/EFGHGB2L
/NAME/EFG COMPANY LONDON
The /SRCE/ code can no longer be used in the Sender to Receiver Information :30U:20160210
field 72 and can optionally be used in the new 14S Settlement Rate Source field :14S:XXX00
instead.
:15B:
:30T:20160210
This new field can only be used when the Scope of Operation is ANDF
:30V:20160102
:36:0,8609
:32B:GBP15987337,73
:53J:/ABIC/ZYXWGB2LXXX
/ACCT/0987654321
/NAME/ZYX COMPANY
:33B:EUR18570493,36
:57J:/ABIC/VUTSGB2LXXX
/NAME/VUT COMPANY
:58J:/ABIC/VUTSGB2LXXX
/ACCT/1234567
/NAME/VUT COMPANY
Page 23 of 36
:15A:
:20:1234567890A
:22A:NEWT
:94A:AFWD
:17O:Y
:83J:/ACCT/600000000
/NAME/ABC ACCOUNT
:82J:/ABIC/ABCDGB2L
/NAME/ABC COMPANY LTD
:87J:/ABIC/EFGHGB2L
/NAME/EFG COMPANY LONDON
:15B:
:30T:20160210
:30V:20160102
:36:0,8609
:32B:GBP15987337,73
:53J:/ABIC/ZYXWGB2LXXX
/ACCT/0987654321
/NAME/ZYX COMPANY
:33B:EUR18570493,36
:57J:/ABIC/VUTSGB2LXXX
/NAME/VUT COMPANY
:58J:/ABIC/VUTSGB2LXXX
/ACCT/1234567
/NAME/VUT COMPANY
:15C:
:72:/VALD/20160210
/SETC/GBP
/SRCE/XXX00
Global: 2017 SWIFT Standards Release
SWIFT
CITI Requirement
Messages
No
Effected
Mandatory /
Optional /
Message Sequence Nature of Change
Definition Change
Client Impact
Message Sample (Future State)
Message Sample (Current State)
:15A:
:20:1234567890A
:22A:NEWT
:94A:ANDF
:17O:Y
:83J:/ACCT/600000000
/NAME/ABC ACCOUNT
:82J:/ABIC/ABCDGB2L
/NAME/ABC COMPANY LTD
:87J:/ABIC/EFGHGB2L
/NAME/EFG COMPANY LONDON
:30U:20160210
:21A:1234567890
:15B:
:30T:20160210
:30V:20160102
:36:0,8609
:32B:GBP15987337,73
:53J:/ABIC/ZYXWGB2LXXX
/ACCT/0987654321
/NAME/ZYX COMPANY
:33B:EUR18570493,36
:57J:/ABIC/VUTSGB2LXXX
/NAME/VUT COMPANY
:58J:/ABIC/VUTSGB2LXXX
/ACCT/1234567
/NAME/VUT COMPANY
:15A:
:20:1234567890A
:22A:NEWT
:94A:AFWD
:17O:Y
:83J:/ACCT/600000000
/NAME/ABC ACCOUNT
:82J:/ABIC/ABCDGB2L
/NAME/ABC COMPANY LTD
:87J:/ABIC/EFGHGB2L
/NAME/EFG COMPANY LONDON
:15B:
:30T:20160210
:30V:20160102
:36:0,8609
:32B:GBP15987337,73
:53J:/ABIC/ZYXWGB2LXXX
/ACCT/0987654321
/NAME/ZYX COMPANY
:33B:EUR18570493,36
:57J:/ABIC/VUTSGB2LXXX
/NAME/VUT COMPANY
:58J:/ABIC/VUTSGB2LXXX
/ACCT/1234567
/NAME/VUT COMPANY
:15C:
:72:/FIX/1234567890
SWIFT Change Request ID: CR 000965
MT300
NA
NA
Overview
Add structured fields for support of non-deliverable forward (NDF) opening
and valuation instruction messages. Retire use of NDF codes in field 72, in
sequence C.
MT304
Mandatory
Sequence A
NDF trades have, until now, been instructed using codes in a free format
field, which has led to manual processing and errors. This CR replaces these
codes with specific structured and validated fields.
Mandatory impact on users of the MT 304 for NDFs and cash-settled
forwards.
Requirement
Deletion of Sender to Receiver Information field 72, line 1 and 2-6, code FIX
Req 5.5
MT321
NA
NA
The /FIX/ code can no longer be used in the Sender to Receiver Information
field 72 and can optionally be used in the new 21A Reference to Opening
FIX
Followed by the reference of the confirmation sent for the opening of the Non Instruction field instead.
Deliverable trade.
This new field can only be used when the Scope of Operation is ANDF
Addition of new Valuation Date field 30U
20. Field 21A: Reference to Opening Instruction
FORMAT
Option A 16x
MT380
NA
NA
PRESENCE
Conditional (see rule C8) in mandatory sequence A
DEFINITION
This field contains the identification of the NDF opening instruction, to which
the current valuation message is related, that is, the sender's reference in
field 20 of the opening confirmation.
MT381
NA
NA
NETWORK VALIDATED RULES
This field must not start or end with a slash '/' and must not contain two
consecutive slashes '//' (Error code(s): T26).
Page 24 of 36
Global: 2017 SWIFT Standards Release
SWIFT
CITI Requirement
Messages
No
Effected
Mandatory /
Optional /
Message Sequence Nature of Change
Definition Change
SWIFT Change Request ID: CR 000965
Client Impact
Message Sample (Future State)
Message Sample (Current State)
See Requirements 5.2 to 5.5
See Requirements 5.2 to 5.5
Overview
Add structured fields for support of non-deliverable forward (NDF) opening
and valuation instruction messages. Retire use of NDF codes in field 72, in
sequence C.
MT300
NA
NA
NDF trades have, until now, been instructed using codes in a free format
field, which has led to manual processing and errors. This CR replaces these
codes with specific structured and validated fields.
Mandatory impact on users of the MT 304 for NDFs and cash-settled
forwards.
Requirement
Update to the definition of the Network Validation Rules for the Sender to
Receiver Information field 72
MT304
Mandatory
Sequence A
NETWORK VALIDATED RULES
If code VALD is used:
• it must appear in the first six characters of the first line and in no other
place, followed by a date expressed as YYYYMMDD and the end of line
separator (that is :72:/VALD/YYYYMMDDCrLf) (Error code(s): C58).
If code SETC is used:
• it must appear in the first six characters of the second line and in no other
place and /SETC/ must be followed by a valid ISO 4217 currency code and
the end of line code, that is CrLf (Error code(s): C59)
• the first six characters of the first line must be /VALD/ (Error code(s): C59)
If the code SRCE is used:
• /SRCE/ must be at the start of the third line and in no other place (Error
code(s): C59)
• the first six characters of the second line must be /SETC/ (Error code(s):
C59)
Code must not be UTI, PUTI, USI or PUSI (Error code(s): T49).
Code must not be FIX, SETC, SRCE or VALD (Error code(s): T70).
Update to the definition of the Usage Rules for the Sender to Receiver
Information field 72
Req 5.6
MT321
NA
NA
MT380
NA
NA
USAGE RULES
Each code used must be put between slashes and appear at the beginning of
a line.
All alphabetic characters in a code must be in upper case.
Additional explanatory information, which may be continued on the next lines,
is preceded by a double slash '//'. Narrative text that is not qualified by a code See Requirements 5.2 to 5.5
must start with a double slash '//' on a new line, and should preferably be the
last information in this field.
Field 72 must not be used for information for which another field is intended.
The use of this field with unstructured text may require manual intervention
and thus cause delay in automated systems.
If the scope of operation (field 94A) is ASET and the advice relates to the
fixing of a Non Deliverable Forward (NDF), the reference of the opening
confirmation must appear on the first line, preceded by /FIX/. If the scope of
operation is ASET and the advice relates to the opening of an NDF, its
valuation date has to be confirmed on the first line of this field, preceded by
/VALD/ and the settlement currency on the second line, preceded by /SETC/.
The settlement currency (/SETC/) may be populated with 'XXX'.
If the first six characters of the first line are equal to /VALD/, if the settlement
currency of the non deliverable trade is known, then the second line must be
present and contain /SETC/ followed by a currency code, and the end of line
code, that is CrLf .
Optionally the settlement rate source for cross currency NDF can be
confirmed on the third line.
The settlement rate source is only to be used:
• in conjunction with a bilaterally agreed master confirmation agreement and
• where the transaction is a cross currency NDF, that is, where /SETC/ is not
followed by USD.
Where available, the settlement rate source should conform to the 1998 FX
and Currency Option Definitions (the FX definitions, as published by the
International Swaps and Derivatives Association, Inc., the Emerging Markets
Traders Association and The Foreign Exchange Committee) as amended and
supplemented from time to time. Otherwise, this may be a bilaterally agreed
value.
Settlement rate source may optionally be followed by a time in format /HHMM,
which refers to the local time of the centre in which it is published, for
example, RCE/EUR1 or SRCE/ECB37 USD/EUR (where the definitions
include the time), or SRCE/EUR3 or SRCE/TKFE USD/EUR/1500 (where the
definitions do not include a time).
Addition of Network Validation Rule C8
MT381
NA
NA
In sequence A, if field 94A contains "ANDF", then fields 32E, 14S and 21A
are optional and field 30U is mandatory, otherwise fields 32E, 14S, 21A and
30U are not allowed (Error code(s): C87):
Sequence A if field 94A is ... ANDF
Sequence A then fields 32E, 14S and 21A are ... Optional
Sequence A and field 30U is ... Mandatory
Sequence A if field 94A is ... AFWD, ASET
Sequence A then fields 32E, 14S and 21A are ... Not allowed
Page 25 of 36
Global: 2017 SWIFT Standards Release
SWIFT
CITI Requirement
Messages
No
Effected
MT300
Mandatory /
Optional /
Message Sequence Nature of Change
Definition Change
Optional but with
Mandatory
Elements
Sequence A
Client Impact
Message Sample (Future State)
Message Sample (Current State)
NA
NA
SWIFT Change Request ID: CR 000964
Overview
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.
MT304
NA
NA
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.
Mandatory impact on users of the MT 300 for NDFs and cash-settled
forwards.
Requirement
Deletion of the code SETC from the Terms and Conditions field 77D
Req 5.7
MT321
NA
NA
SETC
Followed by the Settlement Currency of a Non Deliverable trade.
No Impact
Citi will not be playing back this field on the MT300
Addition of new Settlement Currency field 32E
18. Field 32E: Settlement Currency
FORMAT
Option E 3!a (Currency)
MT380
NA
NA
PRESENCE
Conditional (see rule C8) in mandatory sequence A
DEFINITION
This field specifies the settlement currency of the non-deliverable trade.
MT381
NA
NA
NETWORK VALIDATED RULES
Currency must be a valid ISO 4217 currency code (Error code(s): T52).
The codes XAU, XAG, XPD and XPT are not allowed, as these are codes for
commodities for which the category 6 commodities messages must be used
(Error code(s): C08).
Page 26 of 36
Global: 2017 SWIFT Standards Release
SWIFT
CITI Requirement
Messages
No
Effected
MT300
Mandatory /
Optional /
Message Sequence Nature of Change
Definition Change
Optional but with
Mandatory
Elements
Client Impact
Message Sample (Future State)
Message Sample (Current State)
NA
NA
Sequence A
SWIFT Change Request ID: CR 000964
Overview
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.
MT304
NA
NA
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.
Mandatory impact on users of the MT 300 for NDFs and cash-settled
forwards.
Requirement
Req 5.8
MT321
NA
Deletion of the code VALD from the Terms and Conditions field 77D
No Impact
VALD
Followed by the Valuation (Fixing) Date of a Non Deliverable trade.
Citi will not be playing back this field on the MT300
NA
Addition of new Valuation Date field 30U
19. Field 30U: Valuation Date
MT380
NA
NA
FORMAT
Option U 8!n (Date)
PRESENCE
Conditional (see rule C8) in mandatory sequence A
DEFINITION
This field specifies the valuation date for a non-deliverable trade.
NETWORK VALIDATED RULES
Date must be a valid date expressed as YYYYMMDD (Error code(s): T50).
MT381
NA
NA
Page 27 of 36
Global: 2017 SWIFT Standards Release
SWIFT
CITI Requirement
Messages
No
Effected
MT300
Mandatory /
Optional /
Message Sequence Nature of Change
Definition Change
Optional but with
Mandatory
Elements
Sequence A
Client Impact
Message Sample (Future State)
Message Sample (Current State)
NA
NA
SWIFT Change Request ID: CR 000964
Overview
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.
Mandatory impact on users of the MT 300 for NDFs and cash-settled
forwards.
MT304
NA
NA
Requirement
Deletion of the code SCRE from the Terms and Conditions field 77D
SRCE
Followed by Settlement Rate Source for a cross currency Non Deliverable
trade.
Addition of new Valuation Date field 30U
20. Field 14S: Settlement Rate Source
FORMAT
Option S 3!a2n[/4!n/4!c] (Rate Source)(Time and Location)
Req 5.9
MT321
NA
No Impact
NA
PRESENCE
Conditional (see rule C8) in mandatory sequence A
Citi will not be playing back this field on the MT300
DEFINITION
This field specifies the rate source for the settlement of the non-deliverable
trade and includes an optional time and location for the settlement.
NETWORK VALIDATED RULES
Time must be a valid time expressed as HHMM (Error code(s): T38).
A maximum of two occurrences of this field is allowed (Error code(s): T10).
MT380
NA
NA
MT381
NA
NA
USAGE RULES
The values to be used for the settlement rate source are published in Annex
A of the 1998 FX and Currency Option Definitions (the FX definitions, as
published by the International Swaps and Derivatives Association, Inc., the
Emerging Markets Traders Association and the Foreign Exchange
Committee) as amended and supplemented from time to time.
Rate Source must be "EMT00" for confirmations where the terms are
governed by an EMTA template.
For some cross currency NDFs two separate settlement rate sources may be
quoted, in which case the fields must appear in alphabetical order of Rate
Source.
In subfield Time and Location, Location (4!c) consists of a two character ISO
country code and a two character location code. The location code is made
up as follows:
• if the location name is one word, then the location code is the first two letters
of the location name
• if the location name consists of at least two words, then the location code is
the first letter of the first word followed by the first letter of the second word
Page 28 of 36
Global: 2017 SWIFT Standards Release
SWIFT
CITI Requirement
Messages
No
Effected
MT300
Mandatory /
Optional /
Message Sequence Nature of Change
Definition Change
Optional but with
Mandatory
Elements
Client Impact
Message Sample (Future State)
Message Sample (Current State)
NA
NA
SWIFT Change Request ID: CR 000964
Sequence A
Overview
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.
MT304
NA
NA
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.
Mandatory impact on users of the MT 300 for NDFs and cash-settled
forwards.
Requirement
Deletion of the code FIX from the Terms and Conditions field 77D
Req 5.10
MT321
NA
NA
No Impact
FIX
Followed by the reference of the confirmation sent for the opening of the Non
Citi will not be playing back this field on the MT300
Deliverable trade.
Addition of new Valuation Date field 30U
21. Field 21A: Reference to Opening Instruction
FORMAT
Option A 16x
MT380
NA
NA
PRESENCE
Conditional (see rule C8) in mandatory sequence A
DEFINITION
This field contains the identification of the NDF opening instruction, to which
the current valuation message is related, that is, the sender's reference in
field 20 of the opening confirmation.
MT381
NA
NA
NETWORK VALIDATED RULES
This field must not start or end with a slash '/' and must not contain two
consecutive slashes '//' (Error code(s): T26).
Page 29 of 36
Global: 2017 SWIFT Standards Release
SWIFT
CITI Requirement
Messages
No
Effected
Mandatory /
Optional /
Message Sequence Nature of Change
Definition Change
Client Impact
Message Sample (Future State)
Message Sample (Current State)
NA
NA
SWIFT Change Request ID: CR 000964
MT300
Optional but with
Mandatory
Elements
Overview
Sequence A
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.
Mandatory impact on users of the MT 300 for NDFs and cash-settled
forwards.
Requirement
Update to the definition of the Network Validation Rules for the Terms and
Conditions field 77D
MT304
NA
NA
NETWORK VALIDATED RULES
/FIX/, /SETC/, /SRCE/ or /VALD/ must not be present at the start of any line
(Error code(s): T70).
If code VALD is used:
• it must appear in the first 6 characters of the first line, and in no other place,
followed by a date expressed as YYYYMMDD and the end of line separator
(that is :77D:/VALD/YYYYMMDDCrLf) (Error code(s): C58).
• the second line must be present and contain the code SETC, followed by a
valid ISO 4217 currency code and the end of line separator (that is
/SETC/currencyCrLf)(Error code(s): C59).
Conversely, if the first six characters of the second line are equal to /SETC/,
then the first six characters of the first line must be equal to /VALD/ (Error
code(s): C59).
The code /SETC/ is not allowed in other places than the first six characters of
the second line (Error code(s): C59).
If the first six characters of the third line are /SRCE/, then the first six
characters of the second line must be /SETC/ (Error code(s): C59).
The code /SRCE/ is not allowed in any other place than the first six
characters of the third line (Error code(s): C59).
Update to the definition of the Usage Rules for the Terms and Conditions field
77D
Req 5.11
MT321
NA
NA
MT380
NA
NA
No Impact
USAGE RULES
This field may refer to master agreements which have been put in place on a Citi do not currently support these codes in the MT300
bilateral basis. It may also refer to local regulations or to specific conditions
applicable to the trade.
If this field is not present, the deal conforms either to bilateral agreements or
to usual banking practice.
When structured format is used for bilaterally agreed codes, each code must
be put between slashes and appear at the beginning of a line. Each character
in a code must be in upper case.
This field may be used in confirmations for which bilateral side letters for Non
Deliverable Forward NDF trades have been exchanged between Party A and
Party B. If the confirmation relates to the fixing of an NDF, the reference of
the opening confirmation must appear on the first line, if the confirmation
relates to the opening of an NDF, its valuation date has to be confirmed on
the first line of this field and the settlement currency on the second line.
When matching is not required for settlement currency, then the settlement
currency (/SETC/) may be populated with 'XXX' .
Optionally the settlement rate source for cross currency NDF can be
confirmed on the third line.
The settlement rate source is only to be used:
• in conjunction with a bilaterally agreed master confirmation agreement and
• where the transaction is a cross currency NDF, that is, where /SETC/ is not
followed by USD.
Where available, the settlement rate source should conform to the 1998 FX
and Currency Option Definitions (the FX definitions, as published by the
International Swaps and Derivatives Association, Inc., the Emerging Markets
Traders Association and The Foreign Exchange Committee) as amended and
supplemented from time to time. Otherwise, this may be a bilaterally agreed
value.
Settlement rate source may optionally be followed by a time in format /HHMM,
which refers to the local time of the centre in which it is published, for
example, SRCE/EUR1 or SRCE/ECB37 USD/EUR (where the definitions
include the time), or SRCE/EUR3 or SRCE/TKFE USD/EUR/1500 (where the
definitions do not include a time).
Update to the definition of the Network Validated Rules for the Sender to
Receiver Information field 72
NETWORK VALIDATED RULES
Code must not be UTI, PUTI, USI or PUSI (Error code(s): T49).
Code must not be FIX, SETC, SRCE or VALD (Error code(s): T70).
Page 30 of 36
Global: 2017 SWIFT Standards Release
SWIFT
CITI Requirement
Messages
No
Effected
• in conjunction with a bilaterally agreed master confirmation agreement and
• where the transaction is a cross currency NDF, that is, where /SETC/ is not
followed by USD.
Where available, the settlement rate source should conform to the 1998 FX
and Currency Option Definitions (the FX definitions, as published by the
International Swaps and Derivatives Association, Inc., the Emerging Markets
Traders Association and The Foreign Exchange Committee) as amended and
supplemented from time to time. Otherwise, this may be a bilaterally agreed
Mandatory /
value.
Optional /
Message Sequence Nature of Change
Client Impact
Settlement rate source may optionally be followed by a time in format /HHMM,
Definition Change
which refers to the local time of the centre in which it is published, for
example, SRCE/EUR1 or SRCE/ECB37 USD/EUR (where the definitions
include the time), or SRCE/EUR3 or SRCE/TKFE USD/EUR/1500 (where the
definitions do not include a time).
Message Sample (Future State)
Update to the definition of the Network Validated Rules for the Sender to
Receiver Information field 72
MT381
NA
NA
NETWORK VALIDATED RULES
Code must not be UTI, PUTI, USI or PUSI (Error code(s): T49).
Code must not be FIX, SETC, SRCE or VALD (Error code(s): T70).
Page 31 of 36
Message Sample (Current State)
Global: 2017 SWIFT Standards Release
SWIFT
CITI Requirement
Messages
No
Effected
Mandatory /
Optional /
Message Sequence Nature of Change
Definition Change
Client Impact
Message Sample (Future State)
Message Sample (Current State)
NA
NA
SWIFT Change Request ID: CR 000964
Overview
Add structured fields for support of non-deliverable forward (NDF) opening
and valuation instruction messages. Retire use of NDF codes in field 72, in
sequence C.
MT300
Optional but with
Mandatory
Elements
Sequence A
NDF trades have, until now, been instructed using codes in a free format
field, which has led to manual processing and errors. This CR replaces these
codes with specific structured and validated fields.
Mandatory impact on users of the MT 304 for NDFs and cash-settled
forwards.
Requirement
Addition of new Non-Deliverable Indicator field 17F
16. Field 17F: Non-Deliverable Indicator
FORMAT
Option F 1!a (Indicator)
PRESENCE
Optional in mandatory sequence A
DEFINITION
This field specifies whether or not the confirmation is for a non-deliverable
trade.
MT304
NA
NA
CODES
Indicator must contain one of the following codes (Error code(s): T36):
N A deliverable trade
Y A non-deliverable trade, that is the deal will be cash-settled
USAGE RULES
For a non-deliverable trade, this field must be present and contain "Y".
The absence of this field means that it is a deliverable trade.
Addition of new Non-Deliverable Indicator field 17F
17. Field 17O: NDF Open Indicator
FORMAT
Option O 1!a (Indicator)
PRESENCE
Conditional (see rule C7) in mandatory sequence A
DEFINITION
For a non-deliverable trade, this field specifies whether or not the confirmation
is for an opening instruction.
Req 5.12
MT321
NA
NA
CODES
Indicator must contain one of the following codes (Error code(s): T36):
N The valuation confirmation
Y The opening confirmation
No Impact
Citi will not be playing back this field on the MT300
USAGE RULES
For an NDF opening confirmation, this field must contain "Y".
For an NDF valuation (also known as fixing) confirmation this field must
contain "N".
Addition of new Network Validation Rule C7
In sequence A, if field 17F is present and contains "Y", then field 17O must
also be present, otherwise field 17O is not allowed (Error code(s): C87):
Sequence A if field 17F is ... Y
Sequence A then field 17O is ... Mandatory
Sequence A if field 17F is ... N
Sequence A then field 17O is ... Not allowed
MT380
NA
NA
Sequence A if field 17F is ... Not present
Sequence A then field 17O is ... Not allowed
Addition of new Network Validation Rule C8
In sequence A, if field 17O is present and contains "Y", then fields 32E, 30U,
and at least one occurrence of 14S must also be present and field 21A is not
allowed. If 17O is present and contains "N", then field 21A must be present
and fields 32E, 30U, and 14S are not allowed. If field 17O is not present, then
fields 32E, 30U, 14S, and 21A are not allowed (Error code(s): C87):
Page 32 of 36
Sequence A if field 17O is ... Y
Sequence A then fields 32E, 30U and 14S are ... Mandatory
Sequence A and field 21A is ... Not allowed
Addition of new Network Validation Rule C8
Global: 2017 SWIFT Standards Release
SWIFT
CITI Requirement
Messages
No
Effected
Mandatory /
Optional /
Message Sequence Nature of Change
Definition Change
Client Impact
Message Sample (Future State)
Message Sample (Current State)
NA
NA
In sequence A, if field 17O is present and contains "Y", then fields 32E, 30U,
and at least one occurrence of 14S must also be present and field 21A is not
allowed. If 17O is present and contains "N", then field 21A must be present
and fields 32E, 30U, and 14S are not allowed. If field 17O is not present, then
fields 32E, 30U, 14S, and 21A are not allowed (Error code(s): C87):
MT381
NA
NA
Sequence A if field 17O is ... Y
Sequence A then fields 32E, 30U and 14S are ... Mandatory
Sequence A and field 21A is ... Not allowed
Sequence A if field 17O is ... N
Sequence A then fields 32E, 30U and 14S are ... Not allowed
Sequence A and field 21A is ... Mandatory
Sequence A if field 17O is ... Not present
Sequence A then fields 32E, 30U and 14S are ... Not allowed
Sequence A and field 21A is ... Not allowed
SWIFT Change Request ID: CR 001107
MT300
Optional
Sequence A
Overview
Add an optional, settlement-session field.
MT304
Optional
Sequence A
To allow a message sender to notify the recipient, typically a market
infrastructure, of the settlement mechanism or session in which the trade
should be processed.
This field is optional and is intended for use by participants of market
infrastructures such as CLS.
Req 5.13
MT321
NA
NA
Requirement
No Impact
Addition of new Clearing or Settlement Session field 14E
Citi will not be implementing this as part of SR2017. If received on the
MT304, the field will be ignored and will not reduce STP.
21. Field 14E: Clearing or Settlement Session
There will be no play back on the MT300.
FORMAT
Option E 35x (Reference)
MT380
NA
NA
PRESENCE
Optional in mandatory sequence A
DEFINITION
The session or service in which a market infrastructure should process a
trade for clearing, settlement or other purposes.
MT381
NA
NA
USAGE RULES
A market infrastructure may define proprietary codes that its members may
use in this field.
Page 33 of 36
Global: 2017 SWIFT Standards Release
SWIFT
CITI Requirement
Messages
No
Effected
Mandatory /
Optional /
Message Sequence Nature of Change
Definition Change
Client Impact
Message Sample (Future State)
Message Sample (Current State)
NA
NA
SWIFT Change Request ID: CR 001106
Overview
MT300
Optional
Sequence A
Add Canadian province codes to field 22L.
Derivative reporting requirements have been introduced in additional
provinces in Canada.
These codes are optional and are used for trades that are regulated by
various Canadian provinces.
Requirement
MT304
Optional
Sequence A
Addition of new Reporting Jurisdiction Type codes to field 22L
Code: CAABASC
Definition: Alberta
Code: CABCBCSC
Definition: British Colombia
Req 5.14
MT321
NA
NA
Code: CANBFCSC
Definition: New Brunswick
No Impact
Code: CANLDSS
Definition: Newfoundland and Labrador
Citi will not be implementing this as part of SR2017. If received on the
MT304, the field will be ignored and will not reduce STP.
Code: CANSNSSC
Definition: Nova Scotia
There will be no play back on the MT300.
Code: CANTNTSO
Definition: Northwest Territories
Code: CANUNSO
Definition: Nunavut
MT380
NA
NA
Code: CAPEIOSS
Definition: Prince Edward Island
Code: CASKFCAA
Definition: Saskatchewan
Code: CAYTOSS
Definition: Yukon
Change in definition to the Field Usage Rules for the Reporting Jurisdiction
field 22L
MT381
NA
NA
Field Usage Rules
If the code OTHR is used, the reporting jurisdiction must should be identified
in field 77A Additional Reporting Information.
Page 34 of 36
Global: 2017 SWIFT Standards Release
SWIFT
CITI Requirement
Messages
No
Effected
Mandatory /
Optional /
Message Sequence Nature of Change
Definition Change
Client Impact
Message Sample (Future State)
Message Sample (Current State)
NA
NA
SWIFT Change Request ID: CR 001105
MT300
Optional
Sequence E
Overview
Add an ISIN field to messages used for OTC Derivatives.
Under MiFID II, derivatives have to be identified with ISINs. It is likely that, as
a consequence, trade confirmations will require the ISIN to be included.
The ISIN is an optional field, which may be utilised by users of SWIFT
messages for OTC derivatives.
MT304
Optional
Sequence C
Requirement
Addition of new Identification of Financial Instrument field 35B
44. Field 35B: Identification of Financial Instrument
FORMAT
Option B
Req 5.15
MT321
NA
NA
No Impact
[ISIN1!e12!c]
[4*35x]
(Identification of Instrument)
(Description of Instrument)
PRESENCE
Optional in optional sequence C
Citi will not be implementing this as part of SR2017. If received on the
MT304, the field will be ignored and will not reduce STP.
There will be no play back on the MT300.
DEFINITION
The ISIN or other identifier for the instrument that was traded.
MT380
MT381
NA
NA
NA
NA
NETWORK VALIDATED RULES
At least Identification of Instrument or Description of Instrument must be
present; both may be present (Error code(s): T17).
Identification of Instrument must start with the code ISIN (Error code(s):
T12).
USAGE RULES
Certain derivative trades must be assigned an ISIN for regulatory purposes.
This field can be used to notify the Receiver of this ISIN.
An alternative identifier may be included in Description of Instrument, in
addition to, or instead of an ISIN.
If bilaterally agreed codes are used in Description of Instrument, then they
must be placed between slashes '/'.
Page 35 of 36
Global: 2017 SWIFT Standards Release
SWIFT
CITI Requirement
Messages
No
Effected
Mandatory /
Optional /
Message Sequence Nature of Change
Definition Change
Client Impact
Message Sample (Future State)
Message Sample (Current State)
NA
NA
SWIFT Change Request ID: CR 001109
Overview
Add a usage rule to field 72 to indicate that the information, relevant to the
transaction (for example codes INS, ACC) is expected to be transported
unchanged throughout the transaction chain.
To ensure that intermediary banks pass all relevant information to the
beneficiary bank, to avoid exceptions and investigations and to enable all
banks to perform proper sanctions screening.
This is a documentation change that clarifies the expected use of field 72.
Implementation impact is expected to be low.
Requirement
Update to the definition of the Usage Rules for the Sender to Receiver
Information field 72
Req 5.16
MT202
Mandatory
NA
USAGE RULES
Field 72 must never be used for information for which another field is
intended.
Each item of information contained in this field must be preceded by a code
which specifically indicates the party for which it is intended.
Codes must be placed between slashes and at the beginning of a line.
Additional explanatory information, which may be continued on the next lines, No Impact
is preceded by a double slash '//'.
Narrative text that is not qualified by a code, must start with a double slash '//' Usage Rule only internal to Citi
on a new line, and, should preferably be the last information in this field.
It is strongly recommended to use the standard codes. However, where
bilateral agreements covering the use of codes in this field are in effect, the
code must conform to the structure of this field.
Use of field 72, particularly with uncoded instructions, may cause delay,
because in automated systems, the presence of this field will normally require
manual intervention.
This field may contain ERI to transport dual currencies, as specified in the
chapter entitled "Euro-Related Information (ERI)" in the Standards MT
General Information.
In order to comply with the EC-directive on cross border credit transfers, the
optional code word EXCH may be used to transport an exchange rate. In line
with ERI, the code word EXCH is placed between slashes, followed by the
exchange rate, format 12d, and terminated with another slash.
The code INS may be repeated to specify all previously involved financial
institutions in the transaction chain, Instructing institutions should be
indicated in the order in which they were involved in the transaction chain,
that is, the first occurrence specifies the financial institution that received the
instruction from the ordering institution and passed it on to the next institution
in the transaction chain; the last occurrence always indicates the institution
that instructed the sender of this message to execute the transaction.
If codes INS, ACC, or BNF are present in field 72 of a received message,
then these codes and the related details must be passed, unchanged, in field
72 of the subsequent message in the payment chain. Additional codes and
details may be added to field 72 of the subsequent message but the original
INS, ACC and BNF and related details must not be altered or removed.
The market, service, or other information is provided in this communication solely for your information and “AS IS” and “AS AVAILABLE”, without any representation or warranty as to accuracy, adequacy, completeness, timeliness or fitness for particular purpose. The user bears full responsibility for all use of such information. Citi may provide updates as further information becomes publicly available but will not be responsible for
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The entitled recipient of this communication may make the provided information available to its employees or employees of its affiliates for internal use only but may not reproduce, modify, disclose, or distribute such information to any third parties (including any customers, prospective customers or vendors) or commercially exploit it without Citi’s express written consent. Unauthorized use of the provided information or misuse of any
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