| ISO20022

MT515: (4) Field 23G: Function of the Message

FORMAT

Option G

4!c[/4!c]

(Function)(Subfunction)

PRESENCE

Mandatory in mandatory sequence A

DEFINITION

This field identifies the function of the message.

CODES

Function must contain one of the following codes:

CANC	Cancellation Request	Message requesting the cancellation of a previously sent message.
NEWM	New	New message.
PREA	Preadvice	Pre-advice the invoice of the trade at trade date. The pre-advice is not binding for settlement.

CODES

When present, Subfunction must contain one of the following codes:

CODU	Copy Duplicate	Message is a copy to a party other than the account owner/account servicer, for information purposes and the message is a duplicate of a message previously sent.
COPY	Copy	Message is a copy to a party other than the account owner/account servicer, for information purposes.
DUPL	Duplicate	Message is for information/confirmation purposes. It is a duplicate of a message previously sent.

USAGE RULES

To cancel a previously sent confirmation, Function is CANC. The reference in the linkage sequence must contain the Sender's reference of the message to be cancelled. A copy of at least the mandatory fields of the message to be cancelled must be present; optional fields need not be present for SWIFT validation.

Function PREA can only be used for the preadvice of confirmation of trades executed on markets where the client side trade confirmation is not considered final until the market side trade is settled. The use of PREA must be bilaterally agreed by the sender and the receiver.