This message is sent by an instructing party, for example, a client, or its authorised representative, to an executing party, for example, broker-dealer, or where permitted, directly by an executing party to a point of execution such as an exchange. It may be used in broker-to-broker communications.
This message is used to instruct the executing party to buy or sell a given quantity of a specified financial instrument.
It may also be used to:
request the cancellation of a previously sent order
replace a previously sent order
duplicate an order previously sent
provide a third party with a copy of the message (be it the order or a request for cancellation) being sent.
| Status | Tag | Qualifier | Generic Field Name | Detailed Field Name | Content/Options | No. |
|---|---|---|---|---|---|---|
Mandatory Sequence A General Information |
||||||
M |
16R |
|
|
GENL | 1 |
|
M |
20C |
SEME |
Reference |
:4!c//16x | 2 |
|
M |
23G |
|
|
4!c[/4!c] | 3 |
|
O |
98a |
PREP |
Date/Time |
A, C, or E | 4 |
|
-----> |
||||||
M |
22F |
4!c |
Indicator |
:4!c/[8c]/4!c | 5 |
|
-----| |
||||||
-----> Optional Repetitive Subsequence A1 Linkages |
||||||
M |
16R |
|
|
LINK | 6 |
|
O |
22F |
LINK |
Indicator |
:4!c/[8c]/4!c | 7 |
|
O |
13a |
LINK |
Number Identification |
A or B | 8 |
|
M |
20C |
4!c |
Reference |
:4!c//16x | 9 |
|
M |
16S |
|
|
LINK | 10 |
|
-----| End of Subsequence A1 Linkages |
||||||
M |
16S |
|
|
GENL | 11 |
|
End of Sequence A General Information |
||||||
Mandatory Sequence B Order Details |
||||||
M |
16R |
|
|
ORDRDET | 12 |
|
-----> |
||||||
O |
94a |
4!c |
Place |
B, C, or F | 13 |
|
-----| |
||||||
-----> Optional Repetitive Subsequence B1 Price |
||||||
M |
16R |
|
|
PRIC | 14 |
|
M |
90a |
4!c |
Price |
A or B | 15 |
|
-----> |
||||||
O |
22F |
4!c |
Indicator |
:4!c/[8c]/4!c | 16 |
|
-----| |
||||||
M |
16S |
|
|
PRIC | 17 |
|
-----| End of Subsequence B1 Price |
||||||
-----> |
||||||
M |
22a |
4!c |
Indicator |
F or H | 18 |
|
-----| |
||||||
-----> |
||||||
M |
98a |
4!c |
Date/Time |
A, B, or C | 19 |
|
-----| |
||||||
-----> |
||||||
O |
92A |
4!c |
Rate |
:4!c//[N]15d | 20 |
|
-----| |
||||||
O |
11A |
4!c |
Currency |
:4!c//3!a | 21 |
|
-----> Mandatory Repetitive Subsequence B2 Trading Parties |
||||||
M |
16R |
|
|
TRADPRTY | 22 |
|
-----> |
||||||
M |
95a |
4!c |
Party |
P, Q, R, or S | 23 |
|
-----| |
||||||
-----> |
||||||
O |
97a |
4!c |
Account |
A, B, or E | 24 |
|
-----| |
||||||
O |
98a |
PROC |
Date/Time |
A or C | 25 |
|
O |
20C |
PROC |
Reference |
:4!c//16x | 26 |
|
-----> |
||||||
O |
70a |
4!c |
Narrative |
C or E | 27 |
|
-----| |
||||||
-----> |
||||||
O |
22F |
4!c |
Indicator |
:4!c/[8c]/4!c | 28 |
|
-----| |
||||||
M |
16S |
|
|
TRADPRTY | 29 |
|
-----| End of Subsequence B2 Trading Parties |
||||||
-----> |
||||||
O |
36B |
4!c |
Quantity of Financial Instrument |
:4!c//4!c/15d | 30 |
|
-----| |
||||||
-----> |
||||||
O |
19A |
4!c |
Amount |
:4!c//[N]3!a15d | 31 |
|
-----| |
||||||
M |
35B |
|
|
[ISIN1!e12!c] | 32 |
|
Optional Subsequence B3 Financial Instrument Attributes |
||||||
M |
16R |
|
|
FIA | 33 |
|
O |
94B |
PLIS |
Place |
:4!c/[8c]/4!c[/30x] | 34 |
|
-----> |
||||||
O |
22F |
4!c |
Indicator |
:4!c/[8c]/4!c | 35 |
|
-----| |
||||||
-----> |
||||||
O |
12a |
4!c |
Type of Financial Instrument |
A, B, or C | 36 |
|
-----| |
||||||
O |
11A |
DENO |
Currency |
:4!c//3!a | 37 |
|
-----> |
||||||
O |
98A |
4!c |
Date |
:4!c//8!n | 38 |
|
-----| |
||||||
-----> |
||||||
O |
92A |
4!c |
Rate |
:4!c//[N]15d | 39 |
|
-----| |
||||||
-----> |
||||||
O |
13a |
4!c |
Number Identification |
A or B | 40 |
|
-----| |
||||||
-----> |
||||||
O |
17B |
4!c |
Flag |
:4!c//1!a | 41 |
|
-----| |
||||||
-----> |
||||||
O |
90a |
4!c |
Price |
A or B | 42 |
|
-----| |
||||||
-----> |
||||||
O |
36B |
4!c |
Quantity of Financial Instrument |
:4!c//4!c/15d | 43 |
|
-----| |
||||||
-----> |
||||||
O |
35B |
|
|
[ISIN1!e12!c] | 44 |
|
-----| |
||||||
O |
70E |
FIAN |
Narrative |
:4!c//10*35x | 45 |
|
M |
16S |
|
|
FIA | 46 |
|
End of Subsequence B3 Financial Instrument Attributes |
||||||
-----> |
||||||
O |
13a |
4!c |
Number Identification |
A or B | 47 |
|
-----| |
||||||
O |
70E |
TPRO |
Narrative |
:4!c//10*35x | 48 |
|
M |
16S |
|
|
ORDRDET | 49 |
|
End of Sequence B Order Details |
||||||
Optional Sequence C Settlement Details |
||||||
M |
16R |
|
|
SETDET | 50 |
|
-----> |
||||||
M |
22F |
4!c |
Indicator |
:4!c/[8c]/4!c | 51 |
|
-----| |
||||||
O |
11A |
4!c |
Currency |
:4!c//3!a | 52 |
|
-----> Optional Repetitive Subsequence C1 Settlement Parties |
||||||
M |
16R |
|
|
SETPRTY | 53 |
|
-----> |
||||||
M |
95a |
4!c |
Party |
C, P, Q, R, or S | 54 |
|
-----| |
||||||
O |
97a |
SAFE |
Account |
A or B | 55 |
|
O |
98a |
PROC |
Date/Time |
A or C | 56 |
|
O |
20C |
PROC |
Reference |
:4!c//16x | 57 |
|
-----> |
||||||
O |
70a |
4!c |
Narrative |
C or D | 58 |
|
-----| |
||||||
M |
16S |
|
|
SETPRTY | 59 |
|
-----| End of Subsequence C1 Settlement Parties |
||||||
-----> Optional Repetitive Subsequence C2 Cash Parties |
||||||
M |
16R |
|
|
CSHPRTY | 60 |
|
-----> |
||||||
M |
95a |
4!c |
Party |
P, Q, R, or S | 61 |
|
-----| |
||||||
-----> |
||||||
O |
97a |
4!c |
Account |
A or E | 62 |
|
-----| |
||||||
O |
98a |
PROC |
Date/Time |
A or C | 63 |
|
O |
20C |
PROC |
Reference |
:4!c//16x | 64 |
|
O |
70C |
PACO |
Narrative |
:4!c//4*35x | 65 |
|
M |
16S |
|
|
CSHPRTY | 66 |
|
-----| End of Subsequence C2 Cash Parties |
||||||
-----> Optional Repetitive Subsequence C3 Amounts |
||||||
M |
16R |
|
|
AMT | 67 |
|
-----> |
||||||
O |
17B |
4!c |
Flag |
:4!c//1!a | 68 |
|
-----| |
||||||
-----> |
||||||
M |
19A |
4!c |
Amount |
:4!c//[N]3!a15d | 69 |
|
-----| |
||||||
O |
98a |
VALU |
Date/Time |
A or C | 70 |
|
O |
92B |
EXCH |
Rate |
:4!c//3!a/3!a/15d | 71 |
|
M |
16S |
|
|
AMT | 72 |
|
-----| End of Subsequence C3 Amounts |
||||||
M |
16S |
|
|
SETDET | 73 |
|
End of Sequence C Settlement Details |
||||||
-----> Optional Repetitive Sequence D Other Parties |
||||||
M |
16R |
|
|
OTHRPRTY | 74 |
|
-----> |
||||||
M |
95a |
4!c |
Party |
P, Q, R, or S | 75 |
|
-----| |
||||||
-----> |
||||||
O |
97a |
4!c |
Account |
A, B, or E | 76 |
|
-----| |
||||||
O |
70C |
PACO |
Narrative |
:4!c//4*35x | 77 |
|
O |
20C |
PROC |
Reference |
:4!c//16x | 78 |
|
M |
16S |
|
|
OTHRPRTY | 79 |
|
-----| End of Sequence D Other Parties |
||||||
Optional Sequence E Two Leg Transaction Details |
||||||
M |
16R |
|
|
REPO | 80 |
|
-----> |
||||||
O |
98a |
4!c |
Date/Time |
A, B, or C | 81 |
|
-----| |
||||||
-----> |
||||||
O |
22F |
4!c |
Indicator |
:4!c/[8c]/4!c | 82 |
|
-----| |
||||||
-----> |
||||||
O |
20C |
4!c |
Reference |
:4!c//16x | 83 |
|
-----| |
||||||
-----> |
||||||
O |
92a |
4!c |
Rate |
A or C | 84 |
|
-----| |
||||||
-----> |
||||||
O |
99B |
4!c |
Number Count |
:4!c//3!n | 85 |
|
-----| |
||||||
-----> |
||||||
O |
19A |
4!c |
Amount |
:4!c//[N]3!a15d | 86 |
|
-----| |
||||||
O |
70C |
SECO |
Narrative |
:4!c//4*35x | 87 |
|
M |
16S |
|
|
REPO | 88 |
|
End of Sequence E Two Leg Transaction Details |
||||||
C1 If an Exchange Rate (field :92B::EXCH) is present, the corresponding Resulting Amount (field :19A::RESU) must be present in the same subsequence. If the Exchange Rate is not present then the Resulting Amount is not allowed.
Subsequence C3 if field :92B::EXCH is ... |
Subsequence C3 then field :19A::RESU is ... |
|---|---|
Present |
Mandatory |
Not present |
Not allowed |
C2 If the Function of the Message (field :23G:) is CANC and the Ordered Quantity (field :36B::ORDR) is present, then the Quantity to Cancel (field :36B::CANC) must be present in the order details sequence.
If the Function of the Message (field :23G:) is CANC and the Ordered Amount (field :19A::ORDR) is present, then the Amount to Cancel (field :19A::CANC) must be present in the order details sequence.
If the Function of the Message is not CANC, the Quantity to Cancel and the Amount to Cancel are not allowed.
Sequence A if field :23G is ... |
Sequence B and field :36B::ORDR is ... |
Sequence B then field :36B::CANC is ... |
|---|---|---|
NEWM |
Present |
Not allowed |
REPL |
Present |
Not allowed |
CANC |
Present |
Mandatory |
Sequence A if field :23G is ... |
Sequence B and field :19A::ORDR is ... |
Sequence B then field :19A::CANC is ... |
|---|---|---|
NEWM |
Present |
Not allowed |
REPL |
Present |
Not allowed |
CANC |
Present |
Mandatory |
C3 The Type of Order Indicator (field :22F::TOOR) and/or the Price Limit (field :90a::LIMI) must be present.
Sequence B if field :22F::TOOR is ... |
Then subsequence B1 is ... |
Subsequence B1 and field :90a::LIMI is ... |
|---|---|---|
Present |
Optional |
Optional |
Not present |
Mandatory |
Mandatory in at least one of the occurrences of subsequence B1 |
C4 If the message is a cancellation or a replacement, that is, Function of the Message (field 23G) is CANC or REPL, then subsequence A1 (Linkages) must be present at least once in the message, and in one and only one occurrence of A1, field :20C::PREV must be present; consequently, in all other occurrences of A1, field :20C::PREV is not allowed.
Sequence A if field :23G: is ... |
Then subsequence A1 is ... |
And field :20C::PREV is ... |
|---|---|---|
CANC or REPL |
Mandatory (minimum one occurrence of A1 must be present) |
Mandatory in one occurrence of subsequence A1, and not allowed in all other occurrences of subsequence A1 |
NEWM |
Optional |
NA |
C5 The following party fields for subsequences C1 and C2 cannot appear more than once in sequence C. The party fields for sequence D cannot appear more than once in a message.
Subsequence C1 |
Subsequence C2 |
Sequence D |
|---|---|---|
:95a::BUYR |
:95a::ACCW |
:95a::EXCH |
:95a::DEAG |
:95a::BENM |
:95a::MEOR |
:95a::DECU |
:95a::PAYE |
:95a::MERE |
:95a::DEI1 |
:95a::DEBT |
:95a::TRRE |
:95a::DEI2 |
|
:95a::VEND |
:95a::PSET |
|
:95a::TRAG |
:95a::REAG |
|
|
:95a::RECU |
|
|
:95a::REI1 |
|
|
:95a::REI2 |
|
|
:95a::SELL |
|
|
C6 In sequence B, either an ordered quantity (field :36B::ORDR) or an ordered amount (field :19A::ORDR) must be present, but not both.
Sequence B if field :36B::ORDR is ... |
Sequence B then field :19A::ORDR is ... |
|---|---|
Present |
Not allowed |
Not present |
Mandatory |
C7 If a qualifier from the list Deliverers is present in a subsequence C1 in a field :95a::4!c, then all the remaining qualifiers following this qualifier in the list Deliverers (see below) must be present.
In other words, in sequence C, the following scenarios must be validated:
If :95a::DEI2 is present in subsequence C1, then :95a::DEI1 must be present in another subsequence C1.
If :95a::DEI1 is present in subsequence C1, then :95a::DECU must be present in another subsequence C1.
If :95a::DECU is present in subsequence C1, then :95a::SELL must be present in another subsequence C1.
If :95a::SELL is present in subsequence C1, then :95a::DEAG must be present in another subsequence C1.
If a qualifier from the list Receivers is present in a subsequence C1 in a field :95a::4!c, then all the remaining qualifiers following this qualifier in the list Receivers (see below) must be present.
In other words, in sequence C, the following scenarios must be validated:
If :95a::REI2 is present in subsequence C1, then :95a::REI1 must be present in another subsequence C1.
If :95a::REI1 is present in subsequence C1, then :95a::RECU must be present in another subsequence C1.
If :95a::RECU is present in subsequence C1, then :95a::BUYR must be present in another subsequence C1.
If :95a::BUYR is present in subsequence C1, then :95a::REAG must be present in another subsequence C1.
Deliverers |
|
Receivers |
|
|---|---|---|---|
DEI2 |
Deliverer's Intermediary 2 |
REI2 |
Receiver's Intermediary 2 |
DEI1 |
Deliverer's Intermediary 1 |
REI1 |
Receiver's Intermediary 1 |
DECU |
Deliverer's Custodian |
RECU |
Receiver's Custodian |
SELL |
Seller (Deliverer) |
BUYR |
Buyer (Receiver) |
DEAG |
Delivering Agent |
REAG |
Receiving Agent |
C8 In subsequence C1, if field :95a::PSET is present, then field :97a::SAFE is not allowed in the same sequence.
Subsequence C1 if field :95a::PSET is ... |
Subsequence C1 then field :97a::SAFE is ... |
|---|---|
Present |
Not allowed within the same occurrence |
Not present |
Optional |
C9 In sequence B, if field :22H::BUSE//SWIT is present, then subsequence A1 Linkages is mandatory, and field :20C::PREV must be present in minimum one occurrence of subsequence A1 Linkages.
Sequence B if field :22H::BUSE//SWIT is ... |
Then subsequence A1 is ... |
And field :20C::PREV is ... |
|---|---|---|
Present |
Mandatory, that is minimum one occurrence of A1 |
Mandatory, that is must be present in minimum one occurrence of A1 |
Not present |
Optional |
NA |
C10 If field :22F::DBNM//VEND is present in sequence C, then a vendor must be specified; that is one occurrence of sequence D must contain field :95a::VEND.
If sequence C is ... |
And in sequence C if field :22F::DBNM//VEND is ... |
Then sequence D is ... |
And in one occurrence of sequence D field :95a::VEND is ... |
|---|---|---|---|
Present |
Present |
Mandatory, that is sequence D must be present minimum once |
Mandatory |
Not present |
Optional |
Optional |
|
Not present |
NA |
Optional |
Optional |
When an instruction is sent to a party other than the original Receiver, this original Receiver is identified in the other parties sequence as :95a::MERE (Recipient of the Message).
In cross-border, broker-to-broker trades, the place of settlement (:95a::PSET), must be present.
When a broker is identified as a confirming party, the party capacity (:22F::TRCA) must be specified.
When there is a need to pre-allocate, a master reference must be used in the linkage sequence of the MT 502. The MT 514 Trade Allocation Instruction, is used to instruct the pre-allocation. The master reference must be used in the linkage sequence of all the associated MT 514s.
Field 22F Indicator, with the qualifier PRCO, that is, Pre-Allocation Condition, must be used to indicate how to allocate if the block cannot be fully executed, and to convey rounding instructions in case of fractional shares.
Optional sequence C Settlement Details may be used to convey early information regarding settlement.
The Receiver of a request to cancel or replace must advise the requesting party that the request has been accepted or denied in an MT 509 Trade Status Message.