MT507 Format Specifications

MT507 Network Validated Rules

• C1. 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

• C2. The presence of sequence B depends on the value of field :25D::4!c//<Status> in sequence A and the value of field :13A::LINK//<Number Id> in subsequence A2 as follows :

  Sequence A if field :25D::4!c/[8c]/4!c Qualifier is ...	Sequence A and field :25D::REST/[8c]/4!cData Source Scheme [8c] is ...	Sequence A and field :25D::REST/[8c]/4!c is ...	Subsequence A2 and field :13A::LINK//3!c is ...	then Sequence B is ...
  REST	Not present	:25D::REST//ACCP	503	Optional
  		:25D::REST//ACCT	503	Optional
  		:25D::REST//ACCP	504	Mandatory
  		:25D::REST//ACCT	504	Mandatory
  		:25D::REST//ACCP	505	Optional
  		:25D::REST//ACCT	505	Optional
  		:25D::REST//SUBR	Not Applicable	Optional
  		:25D::REST//REJT	Not Applicable	Not allowed
  	Present	Not Applicable	Not Applicable	Optional
  CPRC	Not Applicable	Not Applicable	Not Applicable	Not allowed
  IPRC	Not Applicable	Not Applicable	Not Applicable	Not allowed

• C3. In each occurrence of sequence B, the presence of subsequence B1 depends on the value of field :25D::COLL//<Status> and :22H::COLL//<Indicator> as follows :

  In each occurrence of sequence B
  If for field :25D::COLL/[8c]/4!c Data Source Scheme [8c] is ...	and field :25D::COLL/[8c]/4!c is ...	and field :22H::COLL//4!c is ...	then subsequence B1 is ...
  Not present	:25D::COLL//ACCT	BCOL	Not allowed
  	:25D::COLL//ACCT	CCOL	Mandatory see rule C11 for additional checks.
  	:25D::COLL//ACCT	SCOL	Mandatory
  	:25D::COLL//REJT	Not Applicable	Not allowed
  Present	Not Applicable	BCOL	Not allowed
  	Not Applicable	CCOL	Optional
  	Not Applicable	SCOL	Optional

• C4. In each occurrence of sequence B, for subsequences B1a1 and B1b1, the following party fields cannot appear more than once :

  Subsequence B1a1	Subsequence B1b1
  :95a::BUYR	:95a::ACCW
  :95a::DEAG	:95a::BENM
  :95a::DECU	:95a::PAYE
  :95a::DEI1
  :95a::DEI2
  :95a::PSET
  :95a::REAG
  :95a::RECU
  :95a::REI1
  :95a::REI2
  :95a::SELL

• C5. It is mandatory to specify a Receiving Agent for the Securities Settlement Parties (subsequences B1a1):

  In each occurrence of sequence B (if present), if subsequence B1a1 Securities Settlement Parties is present, then field :95a::REAG must be present in one and only one occurrence of subsequence B1a1 in the same occurrence of sequence B .

  See also Network Validated Rule C4 .

• C6. In each occurrence of sequence B, if a qualifier from the list Deliverers is present in one occurrence of subsequence B1a1 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 subsequences B1a1 of the same occurrence of sequence B .

  In other words, in each occurrence of sequence B, the following scenarios must be validated:

  • If :95a::DEI2 is present in subsequence B1a1, then :95a::DEI1 must be present in another subsequence B1a1.

  • If :95a::DEI1 is present in subsequence B1a1, then :95a::DECU must be present in another subsequence B1a1.

  • If :95a::DECU is present in subsequence B1a1, then :95a::SELL must be present in another subsequence B1a1.

  In each occurrence of sequence B, if a qualifier from the list Receivers is present in one occurrence of subsequence B1a1 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 subsequences B1a1 of the same occurrence of sequence B .

  In other words, in each occurrence of sequence B, the following scenarios must be validated:

  • If :95a::REI2 is present in subsequence B1a1, then :95a::REI1 must be present in another subsequence B1a1.

  • If :95a::REI1 is present in subsequence B1a1, then :95a::RECU must be present in another subsequence B1a1.

  • If :95a::RECU is present in subsequence B1a1, then :95a::BUYR must be present in another subsequence B1a1.

  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)

• C7. In each occurrence of subsequence B1a, the presence of the subsequence B1a1 depends on the presence of field :22F::STCO//NSSP as follows :

  In each occurrence of subsequence B1a if field :22F::STCO//NSSP is ... if the Data Source Scheme is present in field :22F::STCO//NSSP then the conditional rule does not apply.	In the same occurrence of subsequence B1a then subsequence B1a1 is ...
  Not present	Optional
  Present	Mandatory

• C8. In each occurrence of subsequence B1b, the presence of the subsequence B1b1 depends on the presence of field :22F::STCO//NSSP as follows :

  In each occurrence of subsequence B1b if field :22F::STCO//NSSP is ... if the Data Source Scheme is present in field :22F::STCO//NSSP then the conditional rule does not apply.	In the same occurrence of subsequence B1b then subsequence B1b1 is ...
  Not present	Optional
  Present	Mandatory

• C9. 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

• 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) .

• C11. In each occurrence of sequence B (if present), if subsequence B1 is present, the presence of subsequences B1a and B1b depends on the value of field :22H::COLL//<Indicator> in sequence B as follows :

  In each occurrence of sequence B
  If subsequence B1 is ...	Sequence B and field :22H::COLL//4!c is ...	then subsequence B1a is ...	and subsequence B1b is ...
  Present	CCOL	Not allowed	Mandatory
  	SCOL	Mandatory	Not allowed
  	BCOL Not Applicable see rule C3 .	Not Applicable	Not Applicable
  Not Present	Not Applicable	Not Applicable	Not Applicable

• C12. Field :13a::LINK must be present in one and only one occurrence of subsequence A2 .

  See also Network Validated Rule C13 .

• C13. Field:20C::RELA must be present in the same occurrence of subsequence A2 where field :13a::LINK is present .

  See also Network Validated Rule C12 .

MT507 Usage Rules

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).