High-Level Information - Standards MT November 2019 - Swift
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Standards MT November 2019 High-Level Information This document describes the requested changes for the next Standards MT Release. These requests must still be validated by a maintenance working group and some may be modified or rejected. Country user groups must still vote the approved requests and the Board must ratify those that are accepted by the country vote. This document also includes other technical changes that are foreseen for implementation at the same time as the Standards MT Release. The purpose of this document is to help technical implementers and operational users of the Standards MT messages to evaluate the impact of changes on interfaces and applications. 20 July 2018
Standards MT November 2019
High-Level Information Table of Contents
Table of Contents
Preface .................................................................................................................................................3
1 Introduction ...............................................................................................................................4
2 Schedule for SR 2019 ...............................................................................................................5
3 Impact Levels of the Change Requests .................................................................................6
4 Evaluation of the Impact on Interfaces and Applications ....................................................7
5 Overview of Changes per Category .......................................................................................8
5.1 Category 0 – FIN System Messages ......................................................................................8
5.2 Other Technical Changes .......................................................................................................8
5.3 Category 1 – Customer Payments and Cheques ...................................................................9
5.4 Category 2 – Financial Institution Transfers .........................................................................11
5.5 Category 3 – Foreign Exchange, Money Markets, and Derivatives .....................................12
5.6 Category 4 – Collections and Cash Letters ..........................................................................14
5.7 Category 5 – Securities Markets ...........................................................................................15
5.8 Category 6 – Commodities and Reference Data ..................................................................20
5.9 Category 7 – Documentary Credits and Guarantees/Standby Letters of Credit...................21
5.10 Category 8 – Travellers Cheques .........................................................................................23
5.11 Category 9 – Cash Management and Customer Status .......................................................24
5.12 Category n – Common Group Messages .............................................................................25
Legal Notices ....................................................................................................................................26
20 July 2018 2Standards MT November 2019
High-Level Information Preface
Preface
About this document
This document gives an overview of all MT change requests received by SWIFT Standards
for the next Standards MT Release. The purpose of this document is to inform the
SWIFT community and allow them to start allocating budget and resources for the
next maintenance of the Standards MT messages. Technical implementers and
operational users of the MT messages can use this document to evaluate the impact
on interfaces and applications.
This document is not intended to be final. All change requests need to be validated
by a maintenance working group (MWG) and can be subject to modification or
rejection. After the MWG decision, user group chairpersons of all countries are able to
discuss the change requests in their user group and vote on the acceptance or rejection of
individual change requests. The SWIFT Board must ratify the outcome of the country vote.
Intended audience
This document is for the following audience:
• Technical implementers of the Standards MT messages
• Operational users of the Standards MT messages
• All other interested SWIFT users
20 July 2018 3Standards MT November 2019
High-Level Information Introduction
1 Introduction
Important This document describes changes that are still requests. These requests must be
validated by a maintenance working group and a number of them will be rejected.
Country user groups must then vote the approved requests and the Board must
ratify those that are accepted by the country vote.
The High-Level Information document is part of the normal standards development and
implementation procedures. This document describes the expected or requested changes
for Standards MT Release 2019 (SR 2019). SWIFT distributes this document 16 months
before the Standards MT Release live date.
This document also includes other technical changes that are foreseen for implementation
at the same time as the Standards MT Release, for example, changes to system messages.
The sole purpose of this document is to help technical implementers and operational users
of the SWIFT messages to evaluate the impact of changes on interfaces and applications.
Consequently, implementers and users can plan resources and budget allocations for SR
2019 implementation.
As this document describes requests that are not yet validated, a certain number of them
will not be implemented or will be implemented differently following the validation process.
Readers must therefore use this document for budget and resources planning purposes
only.
The Standards Release Guide 2019, which SWIFT will publish in December 2018, will fully
describe SR 2019. Approved changes will be effective as of 17 November 2019, the release
date on FIN.
Note This publication is supplied for information purposes only, and shall not be
binding nor shall it be construed as constituting any obligation,
representation or warranty on the part of SWIFT. The information in this
publication is the latest available at the date of its production, and may
change.
20 July 2018 4Standards MT November 2019
High-Level Information Schedule for SR 2019
2 Schedule for SR 2019
The timeline below describes the schedule for development and implementation of SR
2019.
SR 2019 Timeline
Important The only official source for information about a Standards MT Release is the
Standards Release Guide that is published in December.
20 July 2018 5Standards MT November 2019
High-Level Information Impact Levels of the Change Requests
3 Impact Levels of the Change Requests
All change requests contain an evaluation of their impact on interfaces and applications
expressed as a number in the range 0 - 3 with or without a plus "+" or minus "-" sign as in
the following table.
Index of impact levels
Level 0 This is a minor change that does not impact the format of the message. For example,
the scope of the message is updated, which may have an impact on some automated
applications.
Level 1 This change relates to the use of the message format but does not affect the message
structure or the FIN validation, for example, a definition or a usage rule is changed.
Level 1+ An existing message type is removed from the network
Level 2- The change has a small effect on the message structure and the FIN validation, for
example, field formats, qualifiers or codes are added or deleted.
Level 2+ The message layout or the FIN validation or both are significantly impacted, for example,
fields or sequences (mandatory or optional) are added or deleted.
Level 3- A new message type is created for use in a message user group (MUG) or the use of an
existing message type is changed from use in a MUG to general use, that is, all users
must be able to receive and process the new message.
Level 3 A new message type is created for general use, that is, all users must be able to receive
and process the new message.
20 July 2018 6Standards MT November 2019
High-Level Information Evaluation of the Impact on Interfaces and Applications
4 Evaluation of the Impact on Interfaces and
Applications
Impact on interfaces
All changes can have a direct impact on interfaces. This also applies to level 0 and level 1
changes, which may require an update to input screens or help screens or both.
Impact on applications
Level 0 changes should have no to minimum impact on applications.
Higher level changes will normally have an impact on applications, although the impact for
applications sending the message may be different from the impact for applications
receiving the message.
Some changes may apply to message types that are to be implemented in a Message User
Group (MUG). Users that are not registered in the MUG cannot send or receive messages
of these message types. The impact on any application depends directly on the need or
desire to support these message types.
20 July 2018 7Standards MT November 2019
High-Level Information Overview of Changes per Category
5 Overview of Changes per Category
When a change description is not clear without further explanation, a brief business context
is sometimes provided to help the readers better understand the reasoning behind the
change. Changes that were modified for implementation last year are indicated in blue font.
5.1 Category 0 – FIN System Messages
There are no changes planned yet for this category for implementation in SR 2019.
5.2 Other Technical Changes
The following changes are tentatively scheduled for implementation in SR 2019.
New change requests for SR 2019
These requests must still be validated by a maintenance working group and can be
subject to modification or rejection.
Message
Impact
Types Short description of the modification MUG
level
(MT)
Header CR 001460 2+ No
block 3
Make field 121 (Unique End-to-end Transaction Reference (UETR))
optional in header block 3 of enquiry and cancellation messages
in categories 1, 2, and 9.
To have the full community benefitting from the change in SR 2018 that
required all SWIFT users to be able to receive field 121 (and field 111)
in all category 1 and category 2 messages. Adding field 121 will help to
unambiguously identify the associated payment message for enquiries
and cancellations. Allowing field 121 on category 9 messages
potentially impacts all users on receiving side, but opens up possibilities
to directly engage between ordering and beneficiary bank (without
requiring RMA).
Header CR 001464 2+ No
block 3
Make use of payment credit confirmation (with field 121 Unique
End-to-end Transaction Reference (UETR) in header block 3 and
structure in field 79 as defined within the SWIFT gpi service)
optional for any SWIFT user.
To allow non-gpi members to also send a structured payment
processing status message. Only if non-gpi members send the
message in scope of the SWIFT gpi service (meaning the receiver is
the SWIFT gpi Tracker, TRCKCHZZ, and user header block field 121 is
present) validation against the mandatory structure as defined in the
SWIFT gpi service will be triggered on the network and the SWIFT gpi
Tracker status will be updated.
20 July 2018 8Standards MT November 2019
High-Level Information Overview of Changes per Category
5.3 Category 1 – Customer Payments and Cheques
The following changes are tentatively scheduled for implementation in SR 2019.
New change requests for SR 2019
These requests must still be validated by a maintenance working group and can be
subject to modification or rejection.
Message
Impact
Types Short description of the modification MUG
level
(MT)
MT 101 CR 001428 2+ Yes
MT 102 Except
Mandate a country code in fields 50F and 59F.
MT 102 MT 103
The move towards format option F is not creating the expected
STP MT 110
improvement in regulatory reporting. Many local regulations require
MT 103 country to be present and also in both the Wolfsberg Group and FATF
MT 103 recommendations, country code is needed for the originator and best
REMIT practice for the beneficiary.
MT 110
MT 102 CR 001429 2+ Yes
MT 102 Except
Remove code word REC in field 72 to increase STP. Preference is
STP given to really stop the use through network validation. MT 103
MT 103 MT 103
Use of code word REC in field 72 is almost always stopping STP. This
MT 103 STP
can be avoided by using proper bilaterally agreed code words or
REMIT replacing it with INT or ACC when relevant. MT 110
MT 103
STP
MT 104
MT 107
MT 110
MT 190 CR 001460 2+ No
MT 191 Make field 121 (Unique End-to-end Transaction Reference (UETR))
MT 192 optional in header block 3 of enquiry and cancellation messages
MT 195 in categories 1, 2, and 9.
MT 196 To have the full community benefitting from the change in SR 2018 that
MT 199 required all SWIFT users to be able to receive field 121 (and field 111)
in all category 1 and category 2 messages. Adding field 121 will help to
unambiguously identify the associated payment message for enquiries
and cancellations. Allowing field 121 on category 9 messages
potentially impacts all users on receiving side, but opens up possibilities
to directly engage between ordering and beneficiary bank (without
requiring RMA).
MT 199 CR 001464 2+ No
Make use of payment credit confirmation (with field 121 Unique
End-to-end Transaction Reference (UETR) in header block 3 and
structure in field 79 as defined within the SWIFT gpi service)
optional for any SWIFT user.
To allow non-gpi members to also send a structured payment
processing status message. Only if non-gpi members send the
message in scope of the SWIFT gpi service (meaning the receiver is
the SWIFT gpi Tracker, TRCKCHZZ, and user header block field 121 is
present) validation against the mandatory structure as defined in the
SWIFT gpi service will be triggered on the network and the SWIFT gpi
Tracker status will be updated.
20 July 2018 9Standards MT November 2019
High-Level Information Overview of Changes per Category
Message
Impact
Types Short description of the modification MUG
level
(MT)
MT 101 CR 001426 2- Yes
MT 102 Except
Limit the number of lines to indicate name in fields 50F and 59F.
MT 102 MT 103
To reduce interoperability issues (potential data truncation or wrong
STP MT 110
mapping) and to align with the High Value Payment usage of ISO
MT 103 20022 messages, where a name can be maximum 66 characters.
MT 110
MT 101 CR 001410 1 Yes
MT 102 Except
Extend use of free format options in fields 50 and 59 until the end
MT 102 of the coexistence period between MT and MX messages. MT 103
STP MT 103
The intention of the agreed free format removal in SR 2020 was to
MT 103 STP
move towards more structure in the format option F, but the structure
MT 103 needed in format option F is limited and seems to lead to truncation MT 110
REMIT issues. ISO 20022 messages offer a more granular structure for postal
MT 103 addresses. Moving towards ISO 20022 is preferred, without the
STP intermediary step to move to format option F in MT. Additionally, the
industry take up of format option F is still very low, which means it is
MT 110 unlikely the industry will be ready by SR 2020 for a full free format
removal.
20 July 2018 10Standards MT November 2019
High-Level Information Overview of Changes per Category
5.4 Category 2 – Financial Institution Transfers
The following changes are tentatively scheduled for implementation in SR 2019.
New change requests for SR 2019
These requests must still be validated by a maintenance working group and can be
subject to modification or rejection.
Message
Impact
Types Short description of the modification MUG
level
(MT)
MT 202 CR 001428 2+ No
COV
Mandate a country code in fields 50F and 59F.
MT 205
COV The move towards format option F is not creating the expected
improvement in regulatory reporting. Many local regulations require
MT 210
country to be present and also in both the Wolfsberg Group and FATF
recommendations, country code is needed for the originator and best
practice for the beneficiary.
MT 200 CR 001429 2+ No
MT 201 Except
Remove code word REC in field 72 to increase STP. Preference is
MT 202 given to really stop the use through network validation. MT 204
MT 202 Use of code word REC in field 72 is almost always stopping STP. This
COV can be avoided by using proper bilaterally agreed code words or
MT 203 replacing it with INT or ACC when relevant.
MT 204
MT 205
MT 292 CR 001460 2+ No
MT 295 Make field 121 (Unique End-to-end Transaction Reference (UETR))
MT 296 optional in header block 3 of enquiry and cancellation messages
MT 299 in categories 1, 2, and 9.
To have the full community benefitting from the change in SR 2018 that
required all SWIFT users to be able to receive field 121 (and field 111)
in all category 1 and category 2 messages. Adding field 121 will help to
unambiguously identify the associated payment message for enquiries
and cancellations. Allowing field 121 on category 9 messages
potentially impacts all users on receiving side, but opens up possibilities
to directly engage between ordering and beneficiary bank (without
requiring RMA).
MT 202 CR 001426 2- No
COV
Limit the number of lines to indicate name in fields 50F and 59F.
MT 205
COV To reduce interoperability issues (potential data truncation or wrong
mapping) and to align with the High Value Payment usage of ISO
MT 210
20022 messages, where a name can be maximum 66 characters.
MT 202 CR 001410 1 No
COV
Extend use of free format options in fields 50 and 59 until the end
MT 205 of the coexistence period between MT and MX messages.
COV
The intention of the agreed free format removal in SR 2020 was to
MT 210
move towards more structure in the format option F, but the structure
needed in format option F is limited and seems to lead to truncation
issues. ISO 20022 messages offer a more granular structure for postal
addresses. Moving towards ISO 20022 is preferred, without the
intermediary step to move to format option F in MT. Additionally, the
industry take up of format option F is still very low, which means it is
unlikely the industry will be ready by SR 2020 for a full free format
removal.
20 July 2018 11Standards MT November 2019
High-Level Information Overview of Changes per Category
5.5 Category 3 – Foreign Exchange, Money Markets,
and Derivatives
The following changes are tentatively scheduled for implementation in SR 2019.
Change requests postponed from SR 2018
Message
Impact
Types Short description of the modification MUG
level
(MT)
MT 300 CR 001309 2+ Yes
MT 304 Except
Remove free format options and update code lists in settlement
party fields. MT 300
To improve message straight-through-processing and automated
matching.
MT 300 CR 001310 2+ Yes
MT 304 Except
Remove free format options and update code lists in trade party
fields. MT 300
To improve message straight-through-processing and automated
matching.
New change requests for SR 2019
These requests must still be validated by a maintenance working group and can be
subject to modification or rejection.
Message
Impact
Types Short description of the modification MUG
level
(MT)
MT 300 CR 001461 2+ No
Add optional fields for post-trade events, such as early-delivery,
early-termination and roll-over.
Provide standardised support for business practices that are common
in Asian countries.
MT 300 CR 001462 2+ No
Add additional optional data fields related to post-trade events
(supplement of CR 1461).
Provide additional standardised support for business practices that are
common in Asian countries.
MT 300 CR 001425 2- No
MT 304 Except
Change reporting jurisdiction code for Russian Federation in field
MT 305 22L. MT 304
MT 306 Central Bank of Russian Federation now regulates Russian market.
MT 340
MT 341
MT 360
MT 361
MT 304 CR 001430 2- Yes
Add codes to field 22A to indicate that the message was a copy.
To be able to identify messages copied to third parties, for example to a
fund administrator.
20 July 2018 12Standards MT November 2019
High-Level Information Overview of Changes per Category
Message
Impact
Types Short description of the modification MUG
level
(MT)
MT 304 CR 001431 2- Yes
Allow a BIC to be specified in option J of fields 5x and 8x.
Add validation of clearing codes in option J of fields 5x and 8x.
Reduce the impact of CR 1309 and CR 1310 party field changes on the
custodian community.
MT 300 CR 001468 1 No
MT 304 Except
Update field 39M to specify usage of the settlement centre for all
MT 305 offshore-settled trades. MT 304
MT 306 MT 321
Clarify that Hong Kong should not be assumed to be the default for
MT 320 offshore Renminbi. MT 380
MT 321 MT 381
MT 330
MT 340
MT 341
MT 360
MT 361
MT 380
MT 381
20 July 2018 13Standards MT November 2019
High-Level Information Overview of Changes per Category
5.6 Category 4 – Collections and Cash Letters
The following changes are tentatively scheduled for implementation in SR 2019.
New change requests for SR 2019
These requests must still be validated by a maintenance working group and can be
subject to modification or rejection.
Message
Impact
Types Short description of the modification MUG
level
(MT)
New message for Pre-advice of Documentary Collection.
New There is currently no SWIFT FIN message type that can be used by a 3 ?
Remitting Bank to advise the Collecting/Presenting bank that they will
be receiving a Documentary Collection from the Remitting bank.
20 July 2018 14Standards MT November 2019
High-Level Information Overview of Changes per Category
5.7 Category 5 – Securities Markets
The following changes are tentatively scheduled for implementation in SR 2019.
5.7.1 Impact on all category 5 messages
There are no changes requested impacting all MTs in this category for implementation in SR
2019.
5.7.2 Trade Initiation and Confirmation
MTs 502, 509, 513, 514, 515, 517, 518, 528, 529, 576, 584 (alignment in other messages
possible)
New change requests for SR 2019
These requests must still be validated by a maintenance working group and can be
subject to modification or rejection.
Message
Impact
Types Short description of the modification MUG
level
(MT)
MT 502 CR 001448 2+ No
MT 509 Add a new format option to qualifier TRRF in field 20C of
MT 513 subsequence Linkages to allow 52 characters.
MT 514 Transport the Unique Transaction Identifier (UTI) in Trade Initiation and
MT 515 Confirmation (TIC) and Settlement and Reconciliation (S&R)
MT 517 messages.
MT 518
MT 576
MT 502 CR 001449 2+ No
Add a code for Buy-in indicator when qualifier SETR is used in
field 22F of subsequence Settlement Details.
CSDR proposes to adopt a Buy-in mechanism in case of fail delivery of
fail instrument. The new trade must carry a reference to the original
trade and be specified to this new Buy-in.
MT 514 CR 001432 2- No
MT 515 Add a research fee qualifier RSCH in field 17B of subsequence
MT 518 Amounts.
Clarification requested by community on how to refer in field 17B to the
qualifier RSCH in field 19A of subsequence Amounts in MT 54X
messages, which was introduced in SR 2018.
20 July 2018 15Standards MT November 2019
High-Level Information Overview of Changes per Category
5.7.3 Settlement and Reconciliation
MTs 508, 524, 535-8, 540-9, 578, 586 (alignment in other messages possible)
New change requests for SR 2019
These requests must still be validated by a maintenance working group and can be
subject to modification or rejection.
Message
Impact
Types Short description of the modification MUG
level
(MT)
MT 535 CR 001423 2+ No
Add a new field for Holdings Narrative in sequence C.
Add a new code for Quarterly Statements indicator when qualifier
SFRE is used without Data Source Scheme in field 22F for
sequence A.
Add a qualifier for Security Interest, Lien or Right of Set-Off in
field17B of Sequence A.
Article 63 of the MiFID II regulation must be followed.
MT 537 CR 001446 2+ No
Addition of a Penalty/Penalty Redistribution sequence in the MT
537 (Statement of Pending Transactions).
CSDs will implement a penalty mechanism for settlement fails which
will serve as an effective deterrent for participants that cause settlement
fails. The penalties information needs to be transported.
MT 535 CR 001448 2+ No
MT 536 Add a new format option to qualifier TRRF in field 20C of
MT 537 subsequence Linkages to allow 52 characters.
MT 540 Transport the Unique Transaction Identifier (UTI) in Trade Initiation and
MT 541 Confirmation (TIC) and Settlement and Reconciliation (S&R)
MT 542 messages.
MT 543
MT 544
MT 545
MT 546
MT 547
MT 548
MT 540 CR 001449 2+ No
MT 541 Add a code for Buy-in indicator when qualifier SETR is used in
MT 542 field 22F of subsequence Settlement Details.
MT 543 CSDR proposes to adopt a Buy-in mechanism in case of fail delivery of
MT 544 fail instrument. The new trade must carry a reference to the original
MT 545 trade and be specified to this new Buy-in.
MT 546
MT 547
MT 548
MT 549
20 July 2018 16Standards MT November 2019
High-Level Information Overview of Changes per Category
Message
Impact
Types Short description of the modification MUG
level
(MT)
MT 548 CR 001463 2+ No
Add a Penalty/Penalty Redistribution sequence.
Add a Penalties function of the message to field 23G of sequence
A.
CSDs will implement a penalty mechanism for settlement fails which
will serve as an effective deterrent for participants that cause settlement
fails. The penalties information needs to be transported.
MT 541 CR 001432 2- No
MT 543 Add a research fee qualifier RSCH in field 17B of subsequence
MT 545 Amounts.
MT 547 Clarification requested by community on how to refer in field 17B to the
qualifier RSCH in field 19A of subsequence Amounts in MT 54X
messages, which was introduced in SR 2018.
5.7.4 Corporate Action
MTs 564, 565, 566, 567, 568 (alignment in other messages possible)
New change requests for SR 2019
These requests must still be validated by a maintenance working group and can be
subject to modification or rejection.
Message
Impact
Types Short description of the modification MUG
level
(MT)
MT 564 CR 001433 2+ No
MT 565 Add field 95L with qualifier ISSU in sequence B, E, and
subsequence E1 of MT 564.
Add field 95L with qualifier OFFO in sequence D of MT 564.
Add field 95L with qualifier ALTE in subsequence B2 of MT 565.
Add field 95L with qualifier ALTE in sequence C of MT 565.
To allow institutional investors to report an event with the LEI (Legal
Entity Identifier) of the issuer and to allow institutional investors to
communicate their own LEI to its custodian or broker.
MT 565 CR 001480 2+ No
MT 567 Add 6 new qualifiers (CNDA, CNDB, CNDC, CNDD, CNDE, and
CNDF) to field 17B in sequence D of MT 565 and in sequence B of
MT 567.
To enable securities holders to give explicit acknowledgement that
specific certification conditions on voluntary offers are fulfilled.
MT 566 CR 001412 2- No
Delete qualifier CERT in field 17B in sequence C of MT 566.
The presence of a Certification / Breakdown flag at confirmation stage
does not make sense.
20 July 2018 17Standards MT November 2019
High-Level Information Overview of Changes per Category
Message
Impact
Types Short description of the modification MUG
level
(MT)
MT 564 CR 001434 2- No
MT 566 Add qualifier CONT with code values ACTU and CONT in field 22a
in subsequence E1 of MT 564 and subsequence D1 of MT 566.
Modify definition of qualifier CONT and code value ACTU in field
22a in subsequence E2 of MT 564.
Add code value CONT in field 22a in subsequence E2 of MT 564.
Modify name and definition of qualifier CONT in field 22a in
subsequence D2 of MT 566.
To harmonise the semantic of the Contractual Payment Indicator
between MT 564 and MT 566 and enable its usage for securities
proceeds payments.
MT 565 CR 001454 2- No
MT 567 Add qualifier RDUQ in field 36a in sequence D of MT 565. Add
code IRDQ to qualifier REJT in field 24B in subsequence A2a in
MT 567.
To enable CSD participants to indicate the additional quantity of new
shares which must be added to the number of shares calculated by the
CSD based on the exercised rights provided by its participants on the
Securities option with Buy Up disposition of fraction. This applies as
well for exercise of warrants and conversion of bonds.
MT 564 CR 001466 2- No
MT 566 Add qualifiers DEDI, DEFP, DEIT, and DERY in field 19B in
subsequence E2 of MT 564 and in subsequence D2 of MT 566.
To enable the account servicer to communicate the cash amounts
components corresponding to the four deemed rate type codes defined
for the Deemed Rate that may be used for Tax On Non-Distributed
Proceeds event as specified in the AU tax law amendment for
attribution managed investment trust (AMIT).
MT 567 CR 001474 2- No
Add codes DQBI and DQBV to qualifier REJT in field 24B in
subsequence A2a in MT 567.
To be able to report specific rejection reasons for invalid bid price or bid
increment present in instructions on events with bidding ranges such as
Dutch auction events.
MT 564 CR 001475 2- No
MT 565 Add code ACOD to qualifier OPTF in field 22F in sequence E in MT
MT 567 564.
Add code ALLC to qualifier ALTE in field 95a in sequence C of MT
565.
Add rejection reason code ACOD to qualifier REJT in field 24B in
subsequence A2a in MT 567.
To enable agents/offerors to identify certain holders that have been
given preferential rights when participating in voluntary reorganisation
events such as offers or are used to identify certain holders
participating in these events. These preferential rights may not be
subject to proration or having a proration applied at a different rate. The
identification is needed as these holders are participating in a separate
offer occurring within the market, such as a public offering of other
securities.
20 July 2018 18Standards MT November 2019
High-Level Information Overview of Changes per Category
Message
Impact
Types Short description of the modification MUG
level
(MT)
MT 564 CR 001476 2- No
MT 565 Add optional code SUOV to qualifier CAOP in field 22F in
MT 566 sequence E of MT 564, in sequence D of MT 565 and in sequence
D of MT 566. Add qualifier QOVE to field 36a in sequence D in MT
565.
Add network validated rule on qualifier QOVE and option code
SUOV in MT 565. Add qualifier OSUB in field 19B in subsequence
D2 in MT 566.
To enable oversubscriptions to an event as a feature of the option as
mandated in the US market per the over-subscription processing rule.
This will allow the depository to process rights subscription events with
an over- subscription privilege within a single option.
MT 566 CR 001477 2- No
Add qualifiers ADJS and REFU in fields 19B in subsequence D2.
To enable the agent to communicate an adjustment to a subscription
amount after the final rate of the rights offer has been fixed and to
report also the part of the original subscription amount that must be
refunded in case of pro-ration of the oversubscription.
MT 564 CR 001478 2- No
MT 566 Move qualifier OSUB from field 90a in sequence E to subsequence
E2 in MT 564 and from field 90a in sequence D in MT 566 to
subsequence D2 in MT 566.
To better link the oversubscription price with the subscription price
(generic price paid per product) at the cash movement level instead of
the option level.
MT 565 CR 001479 2- No
MT 567 Add qualifier OPTF with code value OPLF in field 22a in sequence
D of MT 565 and in sequence B of MT 567.
To enable the securities holders to notify the depository that particular
instructions should be treated as an odd-lot (for example that
instructions should not be pro-rated if pro-ration were to occur).
MT 564 CR 001411 1 No
MT 566 Modify the definition of the Conversion Type Indicator qualifier
CONV in field 22F in sequence D of MT 564 and sequence C of MT
566.
To align the semantic of the conversion type indicator in the standard
with the new SMPG market practice defined on rolling/ongoing events.
5.7.5 Collateral Management
MTs 503-507, 527, 558, 569 (alignment in other messages possible)
There are no changes requested impacting this (sub)category for implementation in SR
2019.
5.7.6 Other Category 5 changes
There are no changes requested impacting this (sub)category for implementation in SR
2019.
20 July 2018 19Standards MT November 2019
High-Level Information Overview of Changes per Category
5.8 Category 6 – Commodities and Reference Data
The following changes are tentatively scheduled for implementation in SR 2019.
New change requests for SR 2019
These requests must still be validated by a maintenance working group and can be
subject to modification or rejection.
Message
Impact
Types Short description of the modification MUG
level
(MT)
MT 600 CR 001425 2- No
MT 601 Change reporting jurisdiction code for Russian Federation in field
22L.
Central Bank of Russian Federation now regulates Russian market.
20 July 2018 20Standards MT November 2019
High-Level Information Overview of Changes per Category
5.9 Category 7 – Documentary Credits and
Guarantees/Standby Letters of Credit
The following changes are tentatively scheduled for implementation in SR 2019.
Change requests postponed from SR 2018
Message
Impact
Types Short description of the modification MUG
level
(MT)
MT 760 CR 000849 3 No
Redesigned MT 760 Guarantee/Standby Letter of Credit.
The MT 760 was a free format message and, over the years, the
community has asked for this message to be completely redesigned to
provide structured fields, for better automation, STP, limit controls, etc.
MT 767 CR 000850 3 No
Redesigned MT 767 Guarantee/Standby Letter of Credit
Amendment.
The MT 767 Amendment needed to be completely redesigned, given
the redesign of the base message MT 760.
MT 760 CR 000847 3 No
Create a new message Demand Guarantee/Standby Letter of
Credit Issuance Extension.
This message is sent in addition to an MT 760 Guarantee/Standby
Letter of Credit message, when the information in the undertaking
exceeds the maximum message size of the MT 760.
This message may specify the terms and conditions of the undertaking
and for a counter-undertaking and may specify the requested terms and
conditions of the local undertaking. Up to eight MT 761 messages may
be sent in addition to the MT 760.
MT 768 CR 000852 2+ No
MT 769 Add new field, File Identification, to identify location of
attachments.
For guarantees and standbys, there is often a need to transmit other
documents (letter of guarantee, cover letter, etc.), these can be sent by
another channel, but a reference is needed in the message. This new
field is the same as the one present in the MT 798 trade messages for
corporate to bank communication.
MT 760 CR 000997 2+ No
Add a new field for the counter-guarantee rules.
Only one field is present in the MT for the undertaking rules. There is
no field for counter-undertaking rules in case they are different.
MT 760 CR 001332 2+ No
Add an optional field for Transfer Conditions.
To have a separate field for Transfer Conditions instead of putting it in
field 77U with all terms and conditions.
20 July 2018 21Standards MT November 2019
High-Level Information Overview of Changes per Category
Message
Impact
Types Short description of the modification MUG
level
(MT)
MT 768 CR 000813 2- No
MT 769 Use z character set in all charges fields and change the field letter
option where necessary.
The X character set lacks some commonly used characters for example
%, @, &. Current workarounds are not satisfactory.
MT 768 CR 000814 2- No
MT 769 Change field 72 to 72Z to allow the use of the z character set.
The x character set lacks some commonly used characters for example
%, @, &. Current workarounds are not satisfactory.
MT 768 CR 000820 2- No
MT 769 Change format of party fields which identify banks.
Name and address fields are too short and need to be increased to 6
lines. Prefixes are also needed to identify name, address and country
lines. Automatic extraction of country code is needed for compliance
reasons.
New change requests for SR 2019
These requests must still be validated by a maintenance working group and can be
subject to modification or rejection.
Message
Impact
Types Short description of the modification MUG
level
(MT)
MT 707 CR 001427 2- No
MT 708 Introduce code word MODIFY for fields 45, 46, 47.
This change request will benefit large retail clients that have internal
order systems that send their banks files with large number of goods
details and only want to modify part of the details.
MT 760 CR 001453 2- No
Rename field 44H Governing Law to include Place of Jurisdiction.
To enable specifying the governing law and place of jurisdiction (which
is as important as the governing law in some countries).
MT 767 CR 001455 2+ No
Add new fields for Delivery of amended undertaking and Delivery
To / Collection By.
To align MT 767 with the redesign of MT 760 for delivery of the
amendment to the undertaking.
MT 760 CR 001458 2+ No
MT 767 Move field 23X File identification to sequence A.
To clarify that field 23X can be used for the undertaking or counter-
undertaking.
MT 768 CR 001459 2- No
Remove codes for beneficiary acceptance or rejection from field
72Z.
Beneficiary acceptance or rejection must not be communicated by MT
768 but rather by MT 787.
20 July 2018 22Standards MT November 2019
High-Level Information Overview of Changes per Category
5.10 Category 8 – Travellers Cheques
There are no changes requested impacting this category for implementation in SR 2019.
20 July 2018 23Standards MT November 2019
High-Level Information Overview of Changes per Category
5.11 Category 9 – Cash Management and Customer
Status
The following changes are tentatively scheduled for implementation in SR 2019.
New change requests for SR 2019
These requests must still be validated by a maintenance working group and can be
subject to modification or rejection.
Message
Impact
Types Short description of the modification MUG
level
(MT)
MT 992 CR 001460 2+ No
MT 995 Make field 121 (Unique End-to-end Transaction Reference (UETR))
MT 996 optional in header block 3 of enquiry and cancellation messages
in categories 1, 2, and 9.
To have the full community benefitting from the change in SR 2018 that
required all SWIFT users to be able to receive field 121 (and field 111)
in all category 1 and category 2 messages. Adding field 121 will help to
unambiguously identify the associated payment message for enquiries
and cancellations. Allowing field 121 on category 9 messages
potentially impacts all users on receiving side, but opens up possibilities
to directly engage between ordering and beneficiary bank (without
requiring RMA).
MT 910 CR 001428 2+ No
Mandate a country code in fields 50F and 59F.
The move towards format option F is not creating the expected
improvement in regulatory reporting. Many local regulations require
country to be present and also in both the Wolfsberg Group and FATF
recommendations, country code is needed for the originator and best
practice for the beneficiary.
MT 910 CR 001426 2- No
Limit the number of lines to indicate name in fields 50F and 59F.
To reduce interoperability issues (potential data truncation or wrong
mapping) and to align with the High Value Payment usage of ISO
20022 messages, where a name can be maximum 66 characters.
MT 910 CR 001410 1 No
Extend use of free format options in fields 50 and 59 until the end
of the coexistence period between MT and MX messages.
The intention of the agreed free format removal in SR 2020 was to
move towards more structure in the format option F, but the structure
needed in format option F is limited and seems to lead to truncation
issues. ISO 20022 messages offer a more granular structure for postal
addresses. Moving towards ISO 20022 is preferred, without the
intermediary step to move to format option F in MT. Additionally, the
industry take up of format option F is still very low, which means it is
unlikely the industry will be ready by SR 2020 for a full free format
removal.
20 July 2018 24Standards MT November 2019
High-Level Information Overview of Changes per Category
5.12 Category n – Common Group Messages
The following changes are tentatively scheduled for implementation in SR 2019.
New change requests for SR 2019
These requests must still be validated by a maintenance working group and can be
subject to modification or rejection.
Message
Impact
Types Short description of the modification MUG
level
(MT)
MT n92 CR 001456 2- No
Add optional code words to field 79 to indicate cancellation
reason.
To cover cancellation reasons identified by participant banks in the gpi
Stop and Recall service and to align further with ISO 20022
cancellation codes.
MT n92 CR 001457 2- No
Add a usage rule to indicate willingness to indemnify in field 79.
In a cancellation request there is potentially a need to add the
willingness to indemnify on top of the cancellation reason. A guideline
for this usage was overlooked in SR 2018. Adding a usage rule can
help aligning market practice on this. The gpi Stop and Recall service
has already incorporated this.
20 July 2018 25Standards MT November 2019 High-Level Information Legal Notices Legal Notices Copyright SWIFT © 2018. All rights reserved. Disclaimer This publication constitutes advance information only and is not to be considered the final and complete standards documentation for the subject matter published herein. The information in this publication may change from time to time. You must always refer to the latest available version. SWIFT Standards Intellectual Property Rights (IPR) Policy - End-User License Agreement SWIFT Standards are licensed subject to the terms and conditions of the SWIFT Standards IPR Policy - End-User License Agreement, available at www.swift.com > About Us > Legal > IPR Policies > SWIFT Standards IPR Policy. Translations The English version of SWIFT documentation is the only official and binding version. Trademarks SWIFT is the trade name of S.W.I.F.T. SCRL. The following are registered trademarks of SWIFT: the SWIFT logo, SWIFT, SWIFTNet, Sibos, 3SKey, Innotribe, the Standards Forum logo, MyStandards, and SWIFT Institute. Other product, service, or company names in this publication are trade names, trademarks, or registered trademarks of their respective owners. 20 July 2018 26
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