MT514 Format Specifications

MT514 Network Validated Rules

• 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 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. When the Type of Price (field :22F::PRIC) is present, the Deal Price (field :90a::DEAL) must also be present .

  Sequence B if field :22F::PRIC is ...	Sequence B then field :90a::DEAL is ...
  Present	Mandatory
  Not present	Optional

• C3. If the Settlement Amount (:19A::SETT) is present in sequence B, it must not be present in any occurrence of subsequence C3 .

  Sequence B if field :19A::SETT is ...	Then, for each occurrence of subsequence C3 field :19A::SETT is ...
  Present	Not allowed
  Not present	Optional

• C4. If the message is a cancellation, ie, Function of the Message (field 23G) is CANC, then subsequence A1 (Linkages) must be present at least once in the message, and in one and only in 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	Mandatory (minimum one occurrence of A1 must be present)	Mandatory in one occurrence of subseq. A1, and not allowed in all other occurrences of subseq. A1
  NEWM	Optional	Not Applicable

• 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::TRRE
  :95a::DEI2		:95a::VEND
  :95a::PSET		:95a::TRAG
  :95a::REAG
  :95a::RECU
  :95a::REI1
  :95a::REI2
  :95a::SELL

• C6. 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 subseq C1, then :95a::DEI1 must be present in another subseq C1.

  • If :95a::DEI1 is present in subseq C1, then :95a::DECU must be present in another subseq C1.

  • If :95a::DECU is present in subseq C1, then :95a::SELL must be present in another subseq C1.

  • If :95a::SELL is present in subseq C1, then :95a::DEAG must be present in another subseq 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 subseq C1, then :95a::REI1 must be present in another subseq C1.

  • If :95a::REI1 is present in subseq C1, then :95a::RECU must be present in another subseq C1.

  • If :95a::RECU is present in subseq C1, then :95a::BUYR must be present in another subseq C1.

  • If :95a::BUYR is present in subseq C1, then :95a::REAG must be present in another subseq 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

• C7. 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

• C8. If field :22F::DBNM//VEND is present in sequence C, then a vendor must be specified; i.e. one occurrence of sequence D must contain field :95a::VEND .

  If Seq. C is ...	and in Seq.C if field :22F::DBNM//VEND is ... if the Data Source Scheme is present in field :22F::DBNM//VEND then the conditional rule does not apply.	then Seq. D is ...	and in one occurrence of Seq. D field :95a::VEND is ...
  Present	Present	Mandatory i.e. must be present minimum once	Mandatory
  	Not present	Optional	Optional
  Not present	Not Applicable	Optional	Optional

MT514 Usage Rules

• 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).

• The underlying fund or client, :95a::INVE, must be present.

• When a broker is identified as a confirming party, the party capacity (:22F::TRCA) must be specified.

• When an ETC service provider transfers a message from one institution to another, and when the originator of the message is not already identified in the confirmation parties sequence or the settlement parties sequence, the originating party is identified in the other parties sequence as :95a::MEOR (Originator of Message).

• Since there is only one allocation per MT 514, allocations must be linked by the master reference in the linkage sequence.

• When the message is used to pre-advise allocation details, the Trade Transaction Type must be PALL and the Master Reference must be the same as the one assigned in the associated MT 502 Order to Buy or Sell. The pre-allocation conditions are defined in the associated MT 502 Order to Buy or Sell.

• When the MT 514 is sent to request a cancellation of a previously sent instruction, field 23G must contain the function to cancel, the linkage subsequence must contain the reference of the instruction to be cancelled and the rest of the message a copy of at least the mandatory fields of the instruction to be cancelled. The Allocation Number/Total Number must be a separate series (see field definitions).

• The Receiver of a request to cancel must advise the requesting party that the cancellation has been accepted or denied in a MT 509 Trade Status Message.