High-Level Information - Standards MT November 2019 - Swift

 
High-Level Information - Standards MT November 2019 - Swift
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

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Standards 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

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Standards 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.

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Standards 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.

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Standards 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.

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Standards 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.

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Standards 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.

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Standards 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.

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Standards 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.

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Standards 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.

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Standards 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.

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Standards 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

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Standards 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.

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Standards 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.

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Standards 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

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Standards 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                                                                                                            17
Standards 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                                                                                                           18
Standards 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                                                                                                           19
Standards 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                                                                                                     20
Standards 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                                                                                                            21
Standards 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                                                                                                           22
Standards 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                                                                                                 23
Standards 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                                                                                                           24
Standards 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                                                                                                          25
Standards MT November 2019
High-Level Information                                                                                 Legal Notices

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20 July 2018                                                                                                         26
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