Note
The use of this message type requires Message User Group (MUG) registration.
Important!
The user header of the message (block 3) is mandatory and must contain a code in the Validation Flag field 119 ( {3:{119:xxxx}} ) to identify the exposure type or collateral reason.
These codes may be used for routing purposes.
This message is sent by the collateral taker or its collateral manager to the collateral giver or its collateral manager. This message is also sent by the collateral giver or its collateral manager to the collateral taker or its collateral manager.
When sent by the taker, it is used to:
request new collateral at the initiation of an exposure
request additional collateral
When sent by the giver, it is used to:
request the return of collateral
recall the collateral upon the termination of an underlying exposure.
This message is also used by the taker or the giver to request the cancellation of a previously sent collateral claim.
This message must not be used to initiate a substitution of collateral.
The message may also be used to:
re-send a message previously sent (Subfunction of the message is DUPL)
provide a third party with a copy of the message for information (Subfunction of the message is COPY)
re-send to a third party a copy of the message for information (Subfunction of the message is CODU).
The collateral claim consists of three sequences:
Sequence A General Information provides general information about the message and the collateral transaction, that is, the function of the message, the identification of the collateral transaction, the references of the linked messages, the identification of the underlying agreement(s), the identification of the parties, the reason for which collateral is needed (the exposure type), the identification of the collateral action and the contact information.
Note
More than one occurrence of the agreement is only authorised for cross-product collateralisation and when no overall master agreement is in place yet.
Sequence B Summary provides information related to the collateral position, that is, the identification of the exposed party, the total exposure amount, the total collateral amount held by the taker, the value of collateral to be added to or to be returned from the collateral held. The sequence contains an optional subsequence with the amounts taken into account to calculate the collateral position. These amounts are required for certain types of exposures. The subsequence also contains the valuation dates and the requested settlement date of the collateral.
Optional sequence C specifies the details of the collateral claimed. It is used by the taker only if the taker wants to receive specific collateral. It is used by the giver to specify the collateral it wants to pull out of the collateral held by the taker. The collateral can be securities, cash, documentary credits or bank guarantees.
| Status | Tag | Qualifier | Generic Field Name | Detailed Field Name | Content/Options | No. |
|---|---|---|---|---|---|---|
Mandatory Sequence A General Information |
||||||
M |
16R |
|
|
GENL | 1 |
|
-----> |
||||||
M |
20C |
4!c |
Reference |
:4!c//16x | 2 |
|
-----| |
||||||
M |
23G |
|
|
4!c[/4!c] | 3 |
|
-----> Mandatory Repetitive Subsequence A1 Agreement |
||||||
M |
16R |
|
|
AGRE | 4 |
|
O |
22F |
AGRE |
Indicator |
:4!c/[8c]/4!c | 5 |
|
O |
98A |
AGRE |
Date |
:4!c//8!n | 6 |
|
O |
13B |
AGRE |
Number |
:4!c/[8c]/30x | 7 |
|
O |
70C |
AGRE |
Narrative |
:4!c//4*35x | 8 |
|
M |
16S |
|
|
AGRE | 9 |
|
-----| End of Subsequence A1 Agreement |
||||||
O |
98a |
PREP |
Date/Time |
A, C, or E | 10 |
|
-----> |
||||||
M |
22a |
4!c |
Indicator |
F or H | 11 |
|
-----| |
||||||
-----> |
||||||
M |
95a |
4!c |
Party |
P, Q, or R | 12 |
|
-----| |
||||||
O |
70C |
PACO |
Narrative |
:4!c//4*35x | 13 |
|
-----> Optional Repetitive Subsequence A2 Linkages |
||||||
M |
16R |
|
|
LINK | 14 |
|
O |
13a |
LINK |
Number Identification |
A or B | 15 |
|
M |
20C |
4!c |
Reference |
:4!c//16x | 16 |
|
M |
16S |
|
|
LINK | 17 |
|
-----| End of Subsequence A2 Linkages |
||||||
M |
16S |
|
|
GENL | 18 |
|
End of Sequence A General Information |
||||||
Mandatory Sequence B Summary |
||||||
M |
16R |
|
|
SUMM | 19 |
|
O |
95a |
EXPP |
Party |
P, Q, or R | 20 |
|
-----> |
||||||
M |
19B |
4!c |
Amount |
:4!c//3!a15d | 21 |
|
-----| |
||||||
Optional Subsequence B1 Summary Details |
||||||
M |
16R |
|
|
SUMD | 22 |
|
-----> |
||||||
O |
19B |
4!c |
Amount |
:4!c//3!a15d | 23 |
|
-----| |
||||||
-----> |
||||||
O |
98a |
4!c |
Date/Time |
A or C | 24 |
|
-----| |
||||||
M |
16S |
|
|
SUMD | 25 |
|
End of Subsequence B1 Summary Details |
||||||
M |
16S |
|
|
SUMM | 26 |
|
End of Sequence B Summary |
||||||
-----> Optional Repetitive Sequence C Collateral Details |
||||||
M |
16R |
|
|
COLD | 27 |
|
M |
20C |
COLR |
Reference |
:4!c//16x | 28 |
|
-----> |
||||||
M |
22a |
4!c |
Indicator |
F or H | 29 |
|
-----| |
||||||
O |
98A |
SETT |
Date |
:4!c//8!n | 30 |
|
Optional Subsequence C1 Securities Collateral Details |
||||||
M |
16R |
|
|
SCOL | 31 |
|
M |
35B |
|
|
[ISIN1!e12!c] | 32 |
|
M |
36B |
COLL |
Quantity of Financial Instrument |
:4!c//4!c/15d | 33 |
|
O |
17B |
OWNF |
Flag |
:4!c//1!a | 34 |
|
M |
16S |
|
|
SCOL | 35 |
|
End of Subsequence C1 Securities Collateral Details |
||||||
Optional Subsequence C2 Cash Collateral Details |
||||||
M |
16R |
|
|
CCOL | 36 |
|
M |
19B |
DEPO |
Amount |
:4!c//3!a15d | 37 |
|
M |
22H |
DEPO |
Indicator |
:4!c//4!c | 38 |
|
O |
98A |
TERM |
Date |
:4!c//8!n | 39 |
|
M |
16S |
|
|
CCOL | 40 |
|
End of Subsequence C2 Cash Collateral Details |
||||||
Optional Subsequence C3 Other Collateral Details |
||||||
M |
16R |
|
|
BCOL | 41 |
|
M |
22H |
BCOL |
Indicator |
:4!c//4!c | 42 |
|
-----> |
||||||
M |
98a |
4!c |
Date/Time |
A or B | 43 |
|
-----| |
||||||
M |
95a |
ISSU |
Party |
P, Q, or R | 44 |
|
M |
19B |
4!c |
Amount |
:4!c//3!a15d | 45 |
|
M |
16S |
|
|
BCOL | 46 |
|
End of Subsequence C3 Other Collateral Details |
||||||
M |
16S |
|
|
COLD | 47 |
|
-----| End of Sequence C Collateral Details |
||||||
Optional Sequence D Additional Information |
||||||
M |
16R |
|
|
ADDINFO | 48 |
|
-----> |
||||||
O |
95a |
4!c |
Party |
P, Q, or R | 49 |
|
-----| |
||||||
M |
16S |
|
|
ADDINFO | 50 |
|
End of Sequence D Additional Information |
||||||
C1 If the message is a cancellation, that is, Function of the Message (field 23G) is CANC, then subsequence A2 (Linkages) must be present at least once in the message, and in one and only one occurrence of A2, field :20C::PREV must be present; consequently, in all other occurrences of A2, field :20C::PREV is not allowed.
Sequence A if field :23G: is ... |
Then subsequence A2 is ... |
And field :20C::PREV is ... |
|---|---|---|
CANC |
Mandatory (minimum one occurrence of A2 must be present) |
Mandatory in one occurrence of subsequence A2, and not allowed in all other occurrences of subsequence A2 |
NEWM |
Optional |
NA |
C2 In sequence A, if field :20C::SCTR is not present, then field :20C::RCTR is mandatory, otherwise field :20C::RCTR is optional.
Sequence A if field :20C::SCTR is ... |
Sequence A then field :20C::RCTR is ... |
|---|---|
Not present |
Mandatory |
Present |
Optional |
C3 In sequence B, if field :19B::TEXA is not present, then field :19B::TCRL is mandatory, otherwise field :19B::TCRL is optional.
Sequence B if field :19B::TEXA is ... |
Sequence B then field :19B::TCRL is ... |
|---|---|
Not present |
Mandatory |
Present |
Optional |
C4 In each occurrence of sequence C, the presence of subsequences C1, C2 and C3 depends on the value of field :22H::COLL//<Indicator> as follows.
In each occurrence of sequence C if field :22H::COLL//4!c is ... |
In the same occurrence of sequence C then subsequence C1 is ... |
In the same occurrence of sequence C and subsequence C2 is ... |
In the same occurrence of sequence C and subsequence C3 is ... |
|---|---|---|---|
BCOL |
Not allowed |
Not allowed |
Mandatory |
CCOL |
Not allowed |
Mandatory |
Not allowed |
SCOL |
Mandatory |
Not allowed |
Not allowed |
C5 In each occurrence of subsequence C2, the presence of field :98A::TERM depends on the value of field :22H::DEPO//<Indicator> as follows.
In each occurrence of subsequence C2 if field :22H::DEPO//4!c is ... |
In the same occurrence of subsequence C2 then field :98A::TERM is ... |
|---|---|
FIXT |
Mandatory |
CLNT |
Not allowed |
C6 In each occurrence of subsequence C3, if field :22H::BCOL//LCOL is present, then field :98B::EXPI//OPEN (that is, Qualifier = EXPI, Data Source Scheme not present and Date Code = OPEN) is not allowed, otherwise field :98B::EXPI//OPEN is optional.
In each occurrence of subsequence C3 if field :22H::BCOL//LCOL is ... |
In the same occurrence of subsequence C3 then field :98B::EXPI//OPEN is ... |
|---|---|
Present |
Not allowed |
Not present |
Optional |
C7 In sequence B, the presence of field :95a::EXPP depends on the value of field :22H::COAL//<Indicator> in sequence A as follows.
Sequence A if field :22H::COAL//4!c is ... |
Sequence B then field :95a::EXPP is ... |
|---|---|
INIT |
Mandatory |
VARI |
Mandatory |
TERM |
Not allowed |
C8 In each occurrence of subsequence A1, if field :22F::AGRE is not present, then field :70C::AGRE is mandatory, otherwise field :70C::AGRE is optional.
In each occurrence of subsequence A1 if field :22F::AGRE is ... |
In the same occurrence of subsequence A1 then field :70C::AGRE is ... |
|---|---|
Not present |
Mandatory |
Present |
Optional |
C9 In subsequence B1, fields 16R and 16S may not be the only fields present. If both fields 16R and 16S are present, then at least one of the other fields of the same subsequence must be present.
C10 The user header of the message (block 3) is mandatory and must contain a valid code in the Validation Flag field 119 ( {3:{119:xxxx}} ). This code must be identical to the code contained in field :22a::COLA//xxxx (Exposure Type Indicator) in sequence A of the message content (text block 4).
The exchange of information related to the trade itself as well as to the settlement of the collateral is done with the existing confirmation and settlement messages of the relevant categories (categories 2, 3, 5, 7, 9).