MT670: (21) Field 22F: Indicator
FORMAT
| Option F | :4!c/[8c]/4!c | (Qualifier)(Data Source Scheme)(Indicator) |
PRESENCE
Mandatory in mandatory sequence B
QUALIFIER
(Error code(s): T89)
Order |
M/O |
Qualifier |
R/N |
CR |
Options |
Qualifier Description |
|---|---|---|---|---|---|---|
1 |
O |
EFFD |
R |
|
F |
Effective Date Indicator |
2 |
M |
MARK |
R |
|
F |
Market Area Indicator |
DEFINITION
This qualified generic field specifies:
EFFD |
Effective Date Indicator |
Specifies how the SSI update effective date is to be applied. |
MARK |
Market Area Indicator |
Specifies the market to which the SSI relates. |
CODES
If Qualifier is EFFD and Data Source Scheme is not present, Indicator must contain one of the following codes:
FUTU |
Future |
SSI update is to be applied to future trades. |
OUTS |
Outstanding Trade |
SSI update is effective for all trades settling on and after effective date irrespective of trade date. |
RCON |
Reconfirmation |
SSI update is effective for all trades settling on and after effective date irrespective of trade date and they need to be reconfirmed. |
SETT |
Settlement Date |
SSI update is effective on the settlement date. |
TRAD |
Trade Date |
SSI update is effective for all trades booked on and after effective date. |
CODES
If Qualifier is MARK and Data Source Scheme is not present, Indicator must contain one of the following codes:
ANYY |
Any |
Any market area. This code is the superset of all the market area codes. |
CASH |
Cash |
Bank to bank cash movements. This code is not related to the other market area codes. It includes transactions such as bank notes and remittances. |
COLL |
Collections |
Collections. |
COMM |
Commodities |
Precious metals and other commodities such as palm oil. |
COPA |
Commercial Payments |
Payment in which one of the parties is not a financial institution. |
DERI |
Derivatives |
Futures contracts, options, swaps, etc. |
DOCC |
Documentary Credits |
Documentary credits. |
FOEX |
Foreign Exchange |
Foreign Exchange, including spot, forwards, and non-deliverable forwards. |
GUAR |
Guarantees |
Guarantees. |
LETT |
Letters of Credit |
Letters of credit. |
LOAN |
Loans |
Loans and deposits. |
MMKT |
Money Markets |
Interbank loans and deposits. |
NDLF |
Non Deliverable Forward |
FX forward trade for which only balance is settled. |
OPTI |
Options |
FX Options, swaptions, etc. |
SECU |
Securities |
Bonds, equities, capital markets, etc. |
TFIN |
Trade Finance |
Documentary credits, collections, guarantees, letters of credit. TFIN is a superset of COLL, DOCC, GUAR, and LETT. |
TREA |
Treasury |
Cash management ("financial trading") activities. TREA is a superset of COMM, DERI, FOEX, MMKT, NDLF, and OPTI. |
USAGE RULES
It is recommended that field :22F::EFFD is present.
Some of the market area codes are effectively supersets of several codes:
ANYY is a superset of all the codes
TREA is a superset of COMM, DERI, FOEX, MMKT, NDLF, and OPTI
TFIN is a superset of COLL, DOCC, GUAR, and LETT
DERI includes OPTI
FOEX includes NDLF
Code ANYY indicates that the standing settlement instruction is to be used for any type of payment, settlement, or other cash movement. It does not indicate that the owner of the account is active in all business domains that are listed in the table.
Code SECU refers to the cash settlement aspect of a securities transaction. The MTs 670 and 671 do not support definition of SSIs for the settlement of the security itself. They likewise do not support more granular specification of the cash settlement, such as by geographical market or type of security.
