Settlement and Financial Instruments Registration … 1 General Information 1.1 SaFIR functions The...

1

NATIONAL BANK OF ROMANIA

Settlement and Financial Instruments

Registration (SaFIR) System

SWIFT User Guide

- March 2018 -

Unofficial translation (provided for information purposes only)

2

Index

1 General Information ..................................................................................................... 4

1.1 SaFIR functions .......................................................................................... 4 1.2 Participants’ connection to SaFIR ............................................................ 4

2 Classification criteria ................................................................................................... 5 3 Glossary of terms ......................................................................................................... 7 4 Template messages and operational flow ............................................................. 8

4.1 Settlement instructions ............................................................................. 8 4.1.1 Free of payment messages (FoP) ..................................................................... 8

4.1.1.1 Operations between two Participants ........................................................... 8

4.1.1.1.1 Two SWIFT messages required ................................................................. 8

4.1.1.1.2 One SWIFT message is required ............................................................... 9

4.1.1.2 Operations between a Participant and its clients ........................................ 9 4.1.2 Delivery/receive against payment ................................................................... 20 4.1.2.1 Trades on RON denominated securities .................................................... 20

4.1.2.2 DvP operations on non-RON denominated securities ............................. 21 4.1.3 Repo management ............................................................................................ 32

4.1.3.1 Repurchase agreement between two Participants ................................... 32 4.1.3.2 Repurchase agreement with NBR ............................................................... 35

4.1.4 Pledges ................................................................................................................ 63 4.1.4.1 Pledge between two SaFIR’ Participants ................................................... 63

4.1.4.2 Pledge to support settlement of DNS .......................................................... 65 NBR ................................................................................................................................ 65

4.1.5 Initial placement of a new issue ....................................................................... 86 4.1.5.1 Initial placement of new issues for RON denominated securities .......... 86

NBR ................................................................................................................................ 86

4.1.5.2 Initial placement of new issues for non RON denominated securities .. 87 NBR ................................................................................................................................ 87

4.2 Corporate action messages .................................................................... 90 4.3 Statement messages ............................................................................... 94

4.3.1 Request for Statement/Status Advice ............................................................. 94 4.3.2 Settlement status and processing advice ...................................................... 95

4.3.3 Statement of accounts ...................................................................................... 97 4.3.4 Statement of transactions ................................................................................. 99

4.3.5 Statement of pending operations .................................................................. 102

4.3.6 Broadcast messages ....................................................................................... 104

5 Examples .................................................................................................................... 105 5.1 Deliver/Receive against payment - initiation and cancellation .......... 105 5.2 Receive/deliver free of payment - initiation and cancellation ............ 108 5.3 Pledge registration - initiation and cancellation .................................. 110 5.4 Corporate action messages .................................................................. 113

6 Matching criteria ....................................................................................................... 115

7 Validation rules ......................................................................................................... 117

8 Annex 1 ........................................................................................................................ 118 9 Annex 2 ........................................................................................................................ 124

10 Annex 3 ........................................................................................................................ 126

3

4

1 General Information

1.1 SaFIR functions

The Settlement and Financial Instruments Registration (SaFIR) System is designed to

manage financial instruments and provide for following main functions:

a. Maintenance of the primary register;

b. Settlement of transactions involving financial instruments;

c. Payment of the proceeds;

d. Housekeeping functions.

1.2 Participants’ connection to SaFIR

Participants are connected to SaFIR through:

a. SWIFT

b. Network RCI-IPF

Each Participant shall be connected to the SaFIR system through a single point of

entry into the system, preferably its headquarters, such that the connection between

RCI-IPF

Banks

NBR

Securities Houses

TransFonD

SaFIR

SWIFT FIN

Network

SWIFT

Network

Key Workstation

SWIFT Gateway

Networks Overview

5

the Participant and SaFIR is always available during the business day.

The SWIFT Alliance Access Interface provides a means for Participants to enter

securities settlement instructions for transmission via SWIFT to the SaFIR system for

processing. Please note that SWIFT Alliance Entry interfaces could also be used by

smaller users needing less automation.

2 Classification criteria

This edition of the SaFIR – SWIFT user guide provides information on the ISO 15022

securities message standards. The securities message standards discussed are:

a) Settlement and Reconciliation (S&R) messages;

b) Corporate Action (CA) messages;

c) SaFIR Broadcast Message. In order to get a complete and comprehensive view of the SWIFT standards, this

guide should be consulted in conjunction with the document "SWIFT Standards MT

November 2008 – Standards Release Guide" provided by SWIFT.

This Guide defines the relevant aspects to each area of operations performed within

SaFIR, identifies common characteristics of operational flows and establishes

relationships.

Send by Participants to SaFIR SaFIR

Participants

Banks MT540, MT541, MT542, MT543, MT527, MT549, MT910

Brokerage companies

MT540, MT541, MT542, MT543, MT527, MT549, MT910

National Bank of Romania

MT540, MT541, MT542, MT543, MT527, MT549, MT910

Ministry of Public Finance

MT540, MT541, MT542, MT543, MT527, MT549, MT910

Headquarter of credit cooperatives

MT540, MT541, MT542, MT543, MT527, MT549, MT910

DNS Clearing Houses*

MT599

6

Send by SaFIR to Participants SaFIR

Participants

Banks

MT515, MT544, MT545, MT546, MT547, MT548, MT558, MT535, MT536, MT537, MT599, MT564, MT566, MT598

Brokerage companies


National Bank of Romania


Ministry of Public Finance


Headquarter of credit cooperatives


DNS Clearing Houses*

MT599

* DNS Clearing House is informed of the value of pledges on request via SWIFT only if they are

connected. Sending / receiving SWIFT authenticated messages Category 5 mentioned above, shall be

made1 in accordance with the SWIFT procedures as valid since trim. 4/2008, after exchanging

SWIFT RMA (Relationship Management Application) authorization between SWIFT

interfaces of SaFIR participants and the system.

SaFIR performs operations initiated by participants in relation to the Issuer (settlement of

primary market results, interest and/or coupon payments, partial/optional/total redemptions)

and operations performed between participants on the secondary market (sale/purchase

operations, pledge contracts, Repo contracts, portfolio transfers).

1 SaFIR participants who have already exchanged SWIFT bilateral authentication keys, does not require exchanging new

RMA authorizations.

7

3 Glossary of terms

Term Definition

Beneficiary of Money

Identifies the party credited with the payment, when payment has been made to an institution different from the Sender and identified as account with institution.

Cash amount & Currency

Currency and the total amount of money paid/to be paid or received/to be received in exchange of the financial instruments.

Message reference number

Reference assigned by the system to unambiguously identify the message

DNS A system that effects the settlement of obligations or transfers between or among counterparties on a net basis at some later time

Exposure type The underlying business area/type of trade causing the exposure. In SaFIR case the underlying business is a secured loan.

Function of the Message

Identifies the function of the message

In/Out indicator Whether the quantity of financial instrument is to be delivered or received.

ISIN code International Securities Identification Number. A unique international code which identifies a securities issue.

Maturity date/time of a repo

The closing date/time or maturity date/time of the repo transaction.

Paying Institution Specifies the party from whose account the payment needs to be done.

Place of settlement Account servicer, respectively the depositor

Preparation Date

Date at which message was prepared

Registration date The date/time the client wishes the pledge instruction to be executed.

Release date The closing date/time of the collateral management transaction

Repo reference Repo Reference common to all the collateral pieces (one or many).

Repurchase amount Total amount to be paid/received on second leg of a repo trade

SSIF Securities companies

8

4 Template messages and operational flow

4.1 Settlement instructions

The following types of operations can be performed by the SaFIR:

Primary market operations.

Secondary market operations

o Sale/purchase operations through Delivery against payment transfer (DvP) or FoP;

o Repo management;

o Pledge management;

o Transfer of portfolio through Free of payment transfer (FoP);

4.1.1 Free of payment messages (FoP) Participants may require a free transfer of portfolio for:

- trades between participants and own clients

- transfer of clients portfolio or of own portfolio

- pledge execution through appropriation

- repo substitution

- margin calls for repo contracts

4.1.1.1 Operations between two Participants

An operation between two SaFIR Participants which doesn’t imply any transfer of

funds in RTGS is settled using FoP messages.

4.1.1.1.1 Two SWIFT messages required

The two messages required are sent by the deliverer participant and by the receiver participant for the following cases:

transfer of client’s portfolio between two SaFIR Participants;

transactions between two SaFIR participants who settles the fund leg through same settlement account in ReGIS system.

9

4.1.1.1.2 One SWIFT message is required

One SWIFT message is required in case of pledge execution trough appropriation

even there are two Participants involved or Participant and its client;

4.1.1.2 Operations between a Participant and its clients

In case of transactions between Participant and its own clients, where securities are

moved between two accounts of the same participant, a single SWIFT message is

required.

The participant will send a receiving (MT540) Swift instruction if it is the beneficiary of

the financial instruments or a delivery (MT542) instruction if it is the supplier of these

financial instruments.

Operational flow for transactions between a participant and its clients is presented in

paragraph 4.1.1.1.2.

Participant

Transaction initiation


Transaction confirmation

Cancellation request

Cancellation initiation

Cancellation confirmation

Settlement status query

Query

Status response

Errors validation

Participant

MT542

Data Flow

MT546

Data Flow

MT540

Data Flow

MT544

Data Flow

MT540

Data Flow

MT548

Data Flow

MT542

Data Flow

MT548

Data Flow

MT548

Data Flow

MT548

Data Flow

MT548

Data Flow

MT548

Data Flow

MT549

Data Flow

MT548

Data Flow

MT549

Data Flow

MT548

Data Flow

10

SWIFT templates

Messages processed by the SaFIR are:

Function FIN - SaFIR

Input Output

Instruct the receipt of financial

instruments MT540 MT544

Request a cancellation of a

instruction previously sent MT540 MT548

Instruct the delivery of financial

instruments MT542 MT546

Request a cancellation of a

instruction previously sent MT542 MT548

Request for statement/status

advice* MT549 MT548

* For MT 549/548 templates see paragraph “Settlement status and processing advice”

Participant

Buyer/Seller





Query

Status response

Errors validation

MT540/542

Data Flow

MT544/546

Data Flow

Data Flow

Data Flow

MT548

Data Flow

MT548

Data Flow

MT549

Data Flow

MT548

Data Flow

11

MT540

This message is sent to SaFIR by the Participant who receives financial instruments in

order to initiate a free of payment transfer or request the cancellation of a previously

sent instruction.

Tag Qualifier Format Other

values Comment M/O Note

:16R: GENL M 1

:20C: :SEME// 16x M

:23G: NEWM CANC M 2

:16R: LINK

:20C: :PREV// 16x :COMM// C 3

:16S: LINK

:16S: GENL M

:16R: TRADDET M

:98a: :SETT// Option A: SETT//8!n

(date) M

4

Option C:

SETT//8!n6!n

(date)(time)

:98A: :TRAD// 8!n S

:90A: :DEAL//YIEL 15d S 5

:35B: ISIN1!e12!c

[4*35x] M 6

:16S: TRADDET M

:16R: FIAC M

:36B: :SETT//FAMT 15d Quantity expressed

as the face amount M

:97a: :SAFE// 35x

Option A:

:SAFE//35x M 7

Option B:

:SAFE//MARG/35x

:16S: FIAC M

:16R: SETDET M

:22F: :SETR// PORT M 8

TRAD M 9

REAL M 10

:22F: STCO//FRCL

Although this is a

free of payment

transfer, a payment

instruction will be

sent.

C 11

:16R: SETPRTY M

:95a: :DEAG// 4!a2!a2!c Opţiune M 12

12



P:DEAG//4!a2!a2!c

Opţiune Q:

DEAG//4*35x

:16S: SETPRTY M

:16R: SETPRTY S

:95P: :PSET// 4!a2!a2!c

BIC of depository

system where

settlement takes

place

S

:16S: SETPRTY S

:16R: SETPRTY S/O 13

:95R: SELL// 8c/34x

Participant’s account

number in the

system of the

depository where

settlement takes

place

S

:16S: SETPRTY S

:16R: SETPRTY S 14

:95P: :REAG// 4!a2!a2!c S

:16S: SETPRTY S

:16R: SETPRTY O

:95a: :SELL// Option P:

SELL//4!a2!a2!c O

15

Option Q:

SELL//4*35x

:16S: SETPRTY O

:16R: AMT S 16

:19A: :SETT// [N]3!a15d S

:16S: AMT S

:16S: SETDET M

1. The fields described in this template could be mandatory for SWIFT (M), optional

for SWIFT but mandatory for SaFIR (S), conditional (C) when their presence

depending on the presence of the other fields and optional (O).

2. Function CANC is used to request the cancellation of an instruction previously sent

(the function of the message is CANC). In this case all fields marked with “O” indicator

in red color are optional.

3. Block „LINK” is conditioned by the message function or by the type of operation.

This block is present when the Function of Message is CANC (with field :20C::PREV//)

or in a Repo margin operation (with the field :20C::COMM//). In the second case, the

13

value of COMM is the SaFIR reference number.

Exceptions are transactions concluded on the basis of the Global Master Repurchase

Agreement (GMRA) Protocol for reverse sale-purchase transactions in government

securities – GMRA (Repo-MRA operation) developed by ACI-Romania, where the

block "LINK" will not be used.

4. If the parties agreed a cut off time until the instruction has to be settled, the format

of the settlement date is Option C. Otherwise, the system try to settle the instruction

until the cut off time of the FoP service.

5. Price is mandatory for SaFIR, excepting the transfer of clients' portfolio and the

margin operation.

6. ISIN code is mandatory, its description is optional.

7. Option B is used only in case of a Repo margin operation.

8. :22F::SETR//PORT is mentioned in the case of the transfer of portfolio.

9. :22F::SETR//TRAD is mentioned when note 8 is not applicable.

10. :22F::SETR//REAL is used when reconstitued SaFIR system positions as a result

of transactions settled in other systems’ depositories.

11. If (9) is applicable then STCO indicator (Settlement Transaction Condition)

becomes mandatory.

12. Q option is used related to transfers to S.C. Depozitarul Central S.A..

13. This indicator is used only for the transfer of financial instruments from another

central depository system and contains the account number of the participant in the

central depository system where settlement takes place.

14. Will be used only in contingency situation. Here is BIC code of the Participant in a

contingency situation.

15. In option P, the seller is identified by the BIC code. If the BIC code is not available,

option Q should be used (name and address).

16. Mandatory when (9) is applicable.

14

MT542

This message is sent to SaFIR by the Participant who delivers financial instruments in

order to initiate a free of payment transfer or request the cancellation of a a previously

sent instruction.



:16R: GENL M 1

:20C: :SEME// 16x M

:23G: NEWM CANC M 2

:16R: LINK

:20C: :PREV// 16x :COMM// C 3

:16S: LINK

:16S: GENL M

:16R: TRADDET M


(date) M

4

Option C:

SETT//8!n6!n

(date)(time)

:98A: :TRAD// 8!n S

:90A: :DEAL//YIEL 15d S 5

:35B: ISIN1!e12!c

[4*35x] M 6

:16S: TRADDET M

:16R: FIAC M

:36B: :SETT//FAMT 15d Quantity expressed as

the face amount M

:97a: :SAFE// 35x

Option A: :SAFE//35x

M 7 Option B:

:SAFE//MARG/35x

:16S: FIAC M

:16R: SETDET M

:22F: :SETR// PORT M 8

TRAD M 9

REAL M 10

:22F: STCO//FRCL

Although this is a free

of payment transfer, a

payment instruction

will be sent.

C 11

:16R: SETPRTY M

:95a: :REAG// 4!a2!a2!c

Option

P:DEAG//4!a2!a2!c M 12

Option Q:

15



DEAG//4*35x

:16S: SETPRTY M

:16R: SETPRTY S

:95P: :PSET// 4!a2!a2!c

BIC of depository

system where

settlement takes place

S

:16S: SETPRTY S

:16R: SETPRTY S/O 13

:95R: BUYR// 8c/34x

Participant’s account

number in the system

of the depository

where settlement takes

place

S

:16S: SETPRTY S

:16R: SETPRTY S 14

:95P: :DEAG// 4!a2!a2!c S

:16S: SETPRTY S

:16R: SETPRTY O

:95a: :BUYR// Option R:

BUYR//8c/34x S 14

Option P:

BUYR//4!a2!a2!c O

15

Option Q:

BUYR//4*35x

:16S: SETPRTY O

:16R: AMT S 16

:19A: :SETT// [N]3!a15d S

:16S: AMT S

:16S: SETDET M







3. Block „LINK” is conditioned by the message function or by the type of operation.

This block is present when the Function of Message is CANC (with field :20C::PREV//)

or in a Repo margin operation (with the field :20C::COMM//). In the second case, the

value of COMM is the SaFIR reference number.


16






until the cut off time of the FoP service.

5. Price is mandatory for SaFIR, excepting the transfer of clients' portfolio and the

margin operation.


7. Option B is used only in case of a Repo margin operation.

8. :22F::SETR//PORT is mentioned in the case of the transfer of portfolio.

9. :22F::SETR//TRAD is mentioned when note 8 is not applicable.

10. :22F::SETR//REAL is used when reconstitued SaFIR system positions as a result

of transactions settled in other systems’ depositories.

11. If (9) is applicable then STCO indicator (Settlement Transaction Condition)

becomes mandatory.


13. This indicator is used only for the transfer of financial instruments from another

central depository system and contains the account number of the participant in the

central depository system where settlement takes place.



15. In option P, the seller is identified by the BIC code. If the BIC code is not available,


16. Mandatory when (9) is applicable.

17

MT544

This message is sent by depositary to Participant to confirm the receipt of financial

instruments free of payment instruction.



:16R: GENL M 1

:20C: :SEME// 16x M

:23G: NEWM CANC M 2

:16R: LINK

:20C: :RELA// 16x PREV M 3

:16S: LINK

:16S: GENL M

:16R: TRADDET M

:98C: :ESET// 8!n6!n M

:35B: ISIN1!e12!c

[4*35x] M 4

:16S: TRADDET M

:16R: FIAC M

:36B: :ESTT//FAMT 15d Quantity expressed as the face

amount M

:97a: :SAFE// 35x Option A: :SAFE//35x

M 5 Option B: :SAFE//MARG/35x

:16S: FIAC M

:16R: SETDET M

:22F: :SETR// 4!c M 6

:16R: SETPRTY M

:95 Q: :DEAG// 4!a2!a2!c Opţiune P:DEAG//4!a2!a2!c

M 7 Opţiune Q: DEAG//4*35x

:16S: SETPRTY M

:16R: SETPRTY S

:95P: :PSET// 4!a2!a2!c BIC SaFIR S

:16S: SETPRTY S

:16R: SETPRTY O

:95a: :SELL// Option P: SELL//4!a2!a2!c O 8

Option Q: SELL//4*35x

:16S: SETPRTY O

:16R: AMT S 9

:19A: :ESTT// [N]3!a15d S

:16S: AMT S

:16S: SETDET M

1. The fields described in this template are either mandatory for SWIFT (M), or

18

optional for SWIFT but mandatory for SaFIR (S) or optional for both of them (O).


(the function of the message is CANC).

3. When the Function of Message is CANC, block “LINK” indicator must be

:20C::PREV//. Otherwise, this block will have indicator :20C::RELA//.





4. ISIN code is mandatory, description is optional.

5. The option (A or B) should be the same like that in the original instruction MT540;

6. The indicator should be the same like that in the original instruction MT540;


8. In option P, the seller is identified by the BIC code. If the BIC is not available, option

Q should be used (name and address).

9. This block is used only in case of pledge execution.

MT546

This message is sent by depositary to Participant to confirm the delivery of financial

instruments free of payment instruction.



:16R: GENL M 1

:20C: :SEME// 16x M

:23G: NEWM CANC M 2

:16R: LINK


:16S: LINK

:16S: GENL M

:16R: TRADDET M

:98C: :ESET// 8!n6!n M

:35B: ISIN1!e12!c

[4*35x] M 4

:16S: TRADDET M

19



:16R: FIAC M


amount M

:97a: :SAFE// 35x Option A: :SAFE//35x

M 5 Option B: :SAFE//MARG/35x

:16S: FIAC M

:16R: SETDET M

:22F: :SETR// 4!c M 6

:16R: SETPRTY M

:95 Q: :REAG// 4!a2!a2!c Opţiune P: REAG//4!a2!a2!c

M 7 Opţiune Q: REAG//4*35x

:16S: SETPRTY M

:16R: SETPRTY S


:16S: SETPRTY S

:16R: SETPRTY O

:95a: :BUYR// Option P: BUYR//4!a2!a2!c O 8

Option Q: BUYR//4*35x

:16S: SETPRTY O

:16R: AMT S 9

:19A: :ESTT// [N]3!a15d S

:16S: AMT S

:16S: SETDET M





3. When the Function of Message is CANC, block “LINK” indicator must be

:20C::PREV//. Otherwise, this block will have indicator :20C::RELA//.






5. The option (A or B) should be the same like that in the original instruction MT542;

6. The indicator should be the same like that in the original instruction MT542;


20

8. In option P, the buyer is identified by the BIC code. If the BIC is not available, option


9. This block is used only in case of pledge execution.

4.1.2 Delivery/receive against payment

According to CPSS “Committee on Payment and Settlement Systems” the system

fulfills the DvP principle as follows: the delivery of securities will take place only if the

money transfer is possible and take place, ensuring that both the settlement of funds

and of financial instruments occurs.

4.1.2.1 Trades on RON denominated securities

Operational flow for DvP operations on RON denominated securities:

Buyer


DvPTransaction initiation






Query

Status response

Errors validation

Seller

MT541

Data Flow

MT545

Data Flow

MT543

Data Flow

MT547

Data Flow

MT543

Data Flow

MT548

Data Flow

MT541

Data Flow

MT548

Data Flow

MT548

Data Flow

MT548

Data Flow

MT548

Data Flow

MT548

Data Flow

MT549

Data Flow

MT548

Data Flow

MT549

Data Flow

MT548

Data Flow

21

4.1.2.2 DvP operations on non-RON denominated securities

The DvP principle is fulfilled also for non-RON denominated securities, although with a

different time lag.

Funds settlement is carried out through corresponding bank of the Participants and

the process usually takes several days but no later then the end of working day on

which the fund settlement confirmation is received from the correspondent bank, or no

later then the cut-off time (ADEL) specified on SWIFT instruction

Operational flow for deliver/receive against payment on non-RON denominated

securities:

MT548

Data Flow

MT548

Data Flow

MT548

Data Flow

MT548

Data Flow

Buyer

MT541

Data Flow

MT548

Data Flow

Seller

MT543

Data Flow

MT548

Data Flow

Settlement day T - 2


Transaction initiationDvP

Matching of instructions

Reservation confirmation

Settlement day T

Funds transfer confirmation



Query

Status response


Query

Status response

Errors validation

MT543

Data Flow

MT548

Data Flow

MT541

Data Flow

MT548

Data Flow

MT549

Data Flow

MT548

Data Flow

MT549

Data Flow

MT548

Data Flow

Data Flow

MT545

Data Flow

MT547

Data Flow

MT910

22

SWIFT templates



Input Output

Instruct the receipt of government securities MT541 MT545

Request a cancellation of a instruction previously

sent MT541 MT548

Instruct the delivery of government securities MT543 MT547

Fund settlement confirmation MT910


sent MT543 MT548

Provide the transaction reference number in case

of nonRON trades - 548

Request for statement/status advice MT549 MT548

* For MT 549/548 templates see paragraph “Settlement status and processing advice”

MT541

This message is sent by a Participant to depositor to instruct the receipt of financial

instruments against payment instruction or request the cancellation of a receive

against payment instruction previously sent by the Participant



:16R: GENL M 1

:20C: :SEME// 16x M

:23G: NEWM CANC M 2

:16R: LINK

:20C: :PREV// 16x C 3

:16S: LINK

:16S: GENL M

:16R: TRADDET M

:98a: :SETT// Option A: SETT//8!n (date) M

4

Option C: SETT//8!n6!n

(date)(time)

23



:98a: :ADEL// Option A: ADEL//8!n (date) -/M

5

Option C: ADEL//8!n6!n

(date)(time)

:98A: :TRAD// 8!n S

:90A: :DEAL//YIEL 15d S

:35B: ISIN1!e12!c

[4*35x] M 6

:16S: TRADDET M

:16R: FIAC M

:36B: :SETT//FAMT 15d Quantity expressed as the face

amount M

:97A: :SAFE// 35x Securities account (house or

omnibus account) M

:16S: FIAC M

:16R: SETDET M

:22F: :SETR//TRAD M

:16R: SETPRTY M

:95P: :DEAG// 4!a2!a2!c M

:16S: SETPRTY M

:16R: SETPRTY S


:16S: SETPRTY S

:16R: SETPRTY S 7

:95P: :REAG// 4!a2!a2!c S

:16S: SETPRTY S

:16R: SETPRTY O



:16S: SETPRTY O

:16R: CSHPRTY S 9

:95P: :ACCW//

4!a2!a2!c

For RON

4!a2!a2!c3!c

for EUR

BIC ReGIS for RON

BIC TARGET2- Romania for

EUR

S

:16S: CSHPRTY S

:16R: CSHPRTY S 10

:95P: :PAYE//

4!a2!a2!c

For RON

4!a2!a2!c3!c

for EUR

BIC code of buyer’s funds

settlement bank S

:16S: CSHPRTY S

24



:16R: AMT M

:19A: :SETT// [N]3!a15d M

:16S: AMT M

:16S: SETDET M



depending on the presence of the other fields and optional (O) for both SWIFT and

system.




3. The block „LINK” is present when the Function of Message is CANC (with the field

:20C::PREV//).



until the cut off time of the DvP service.

5. This option is not allowed for EUR- and RON-settled operations; it becomes

mandatory only for transactions with financial instruments denominated in other

currencies.






9. This block is mandatory for EUR-settled operations while for RON-settled

operations this block is mandatory only if the buyer is a securities company. For all

other cases, this block is optional.

10. If (9) is applicable, then (10) is mandatory.

MT543

This message is sent by a Participant to depositary to instruct the delivery of financial

instruments against payment or request the cancellation of a delivery against payment

25

instruction previously sent by the Participant



:16R: GENL M 1

:20C: :SEME// 16x M

:23G: NEWM CANC M 2

:16R: LINK

:20C: :PREV// 16x C 3

:16S: LINK

:16S: GENL M

:16R: TRADDET M


4


(date)(time)


5


(date)(time)

:98A: :TRAD// 8!n S


:35B: ISIN1!e12!c

[4*35x] M 6

:16S: TRADDET M

:16R: FIAC M


amount M


omnibus account) M

:16S: FIAC M

:16R: SETDET M

:22F: :SETR//TRAD M

:16R: SETPRTY M

:95P: :REAG// 4!a2!a2!c M

:16S: SETPRTY M

:16R: SETPRTY S


:16S: SETPRTY S

:16R: SETPRTY S 7

:95P: :DEAG// 4!a2!a2!c S

:16S: SETPRTY S

:16R: SETPRTY O



:16S: SETPRTY O

:16R: CSHPRTY S 9

26



:95P: :ACCW//

4!a2!a2!c

4!a2!a2!c 3!c

for EUR

BIC ReGIS for RON


EUR

S

:16S: CSHPRTY S

:16R: CSHPRTY S 10

:95P: :BENM//

4!a2!a2!c

For RON

4!a2!a2!c3!c

for EUR

BIC code of seller’s funds

settlement bank S

:16S: CSHPRTY S

:16R: AMT M

:19A: :SETT// [N]3!a15d M

:16S: AMT M

:16S: SETDET M




system.





:20C::PREV//)






currencies.





27






MT545

This message is sent by the depository to the Participant to confirm the receipt of

financial instruments against payment instruction.



:16R: GENL M 1

:20C: :SEME// 16x M

:23G: NEWM CANC M 2

:16R: LINK


:16S: LINK

:16S: GENL M

:16R: TRADDET M

:98C: :ESET// 8!n6!n M

:35B: ISIN1!e12!c

[4*35x] M 4

:16S: TRADDET M

:16R: FIAC M


amount M


omnibus account) M

:16S: FIAC M

:16R: SETDET M

:22F: :SETR// 4!c M 5

28



:16R: SETPRTY M

:95P: :DEAG// 4!a2!a2!c M

:16S: SETPRTY M

:16R: SETPRTY S


:16S: SETPRTY S

:16R: SETPRTY O



:16S: SETPRTY O

:16R: CSHPRTY S 7

:95P: :ACCW//

4!a2!a2!c

For RON

4!a2!a2!c3!c

for EUR

BIC ReGIS for RON


EUR

S

:16S: CSHPRTY S

:16R: CSHPRTY S 8

:95P: :PAYE//

4!a2!a2!c

For RON

4!a2!a2!c3!c

for EUR


settlement bank S

:16S: CSHPRTY S

:16R: AMT M

:19A: :ESTT// [N]3!a15d M

:16S: AMT M

:16S: SETDET M





3. When the Function of Message is CANC indicator must be :20::PREV//. Otherwise

the indicator is :20C::RELA//.


5. The indicator should be the same like in the original instruction MT541.




29

operations this block is mandatory only if the buyer is a securities company.

8. If (7) is applicable, then this block is mandatory.

MT547

This message is sent by the depository to the Participant to confirm the delivery of

financial instruments against payment instruction.



:16R: GENL M 1

:20C: :SEME// 16x M

:23G: NEWM CANC M 2

:16R: LINK


:16S: LINK

:16S: GENL M

:16R: TRADDET M

:98C: :ESET// 8!n6!n M

:35B: ISIN1!e12!c

[4*35x] M 4

:16S: TRADDET M

:16R: FIAC M


amount M


omnibus account) M

:16S: FIAC M

:16R: SETDET M

:22F: :SETR// 4!c M 5

:16R: SETPRTY M

:95P: :REAG// 4!a2!a2!c M

:16S: SETPRTY M

:16R: SETPRTY S


:16S: SETPRTY S

:16R: SETPRTY O



:16S: SETPRTY O

:16R: CSHPRTY S 7

30



:95P: :ACCW//

4!a2!a2!c

for RON

4!a2!a2!c3!c

for EUR

BIC ReGIS for RON


EUR

S

:16S: CSHPRTY S

:16R: CSHPRTY S 8

:95P: :BENM//

4!a2!a2!c

For RON

4!a2!a2!c3!c

for EUR


settlement bank S

:16S: CSHPRTY S

:16R: AMT M

:19A: :ESTT// [N]3!a15d M

:16S: AMT M

:16S: SETDET M





3. When the Function of Message is CANC indicator must be :20::PREV//. Otherwise

the indicator is :20C::RELA//.


5. The indicator should be the same like in the original instruction MT543.




operations this block is mandatory only if the buyer is a securities company.

8. If (7) is applicable, then (8) is mandatory

MT548

This message is sent by SaFIR system to the settlement bank to confirm the payment

receipt.

31



:16R: GENL M 1

:20C: :SEME// 16x Message reference provided

by sender M

:23G: INST 4!c Status of the instruction M

:16R: LINK

:20C: :RELA// 16x

Number provided by the

system to the transaction

whose funds are about to be

settled

M

:16S: LINK

:16R: STAT M

:25D: :IPRC//PACK 16x

Status of the instruction /

Instruction has been

received by the account

manager

M

:16S: STAT M

:16S: GENL

M

:16R: SETTRAN

M

:35B: ISIN1!e12!c

[4*35x] Securities ISIN M 2

:36B: :SETT//FAMT 15d Value of transaction

expressed as nominal value M

:19A: :SETT//RON 15d Settlement amount in Ron S 3

:97A: :SAFE// 35x

Account symbol where the

financial instruments are

deposited

M

:22F: :SETR//TRAD 4!c Settlement / transaction

type M

:22H: :REDE//DELI 4!c Instruments are delivered

from SAFE account M

:22H: :PAYM//APMT 4!c DvP type delivery M

:98A: :SETT// 8!c Settlement date M

:98A: :TRAD// 8!c Transaction date M

:16R: SETPRTY

M

:95P: :DEAG// 4!a2!a2!c BIC – seller bank M

:20C: :PROC// :4!c//16x SWIFT message reference

seller S

:16S: SETPRTY

M

:16R: SETPRTY

M

:95P: :REAG// 4!a2!a2!c BIC – buyer bank M

32



:20C: :PROC// :4!c//16x SWIFT message reference

buyer S

:16S: SETPRTY

M

:16S: SETTRAN

M

1. The fields described in this template are either mandatory for SWIFT validation (M),

or optional for SWIFT validation but mandatory for SaFIR validation (S), conditional

(C) when their presence depends on the presence of other fields and optional (O) for

all situations.

2. ISIN code is mandatory, its description being optional.

3. Ron settlement amount.

MT 910

Tag Content Explications M/O

:20: 16x Transaction Reference Number M

:21: 16x Related Reference M

:25: 35x Account Identification (cash account) M

:32A: 6!n3!a15d This field specifies the value date, currency code

and amount of the credit M

:52A:

4!a2!a2!c This field identifies the financial institution which

originated the transaction resulting in this credit C

:56A 4!a2!a2!c

This field indicates the BIC code of the participant

which has to confirm the payment.

It is a mandatory field for contingency situations. O

According with SWIFT Network Validated Rules either field 50a or field 52a must be

present, but not both.

4.1.3 Repo management

4.1.3.1 Repurchase agreement between two Participants

Repo is a sale and repurchase agreement between two Participants and it is

composed by two DvP operations linked together. The second DvP operations

(second leg) is automatically started by SaFIR on a specific time or date on the basis

of the previously stored data.

33

Excepting intraday Repo, a substitution function is available if it has been agreed in

the contract by the parties.

The Repo substitution will be carried out by four free of payment transfer instructions

of the new securities in exchange for the purchased securities to be replaced (a FoP

operation contingent to the other one).

The initial buyer sends a MT542 (Deliver Free) in order to return the purchased

securities and a MT540 (Receive Free).

The initial seller sends a MT542 (Deliver Free) in order to transfer the new securities

and a MT540 (Receive Free) in order to receive the purchased securities.

For long term repo, if the value of collateral decreases or increases, the participant

exposed as result of this price variation will call for a margin. If the margin agreed is a

bond (not cash), than a new FoP messages are sent. Template for this message is

described in the FoP transfer section.

In case of repo operations between a SaFIR participant who is a primary dealer, and

brokerage companies (SSIF) who settles the fund leg through the settlement account

of the primary dealer, DvP messages (MT 541 and MT 543) will be replaced by FoP

messages (MT 540 and MT 542)

Operational flow for repo trades between two SaFIR participants:

34

Repo

Buyer

Repo

Seller

MT546

Data Flow

MT540

Data Flow

First leg settlement


DvPTransaction initiation





Substitution initiation

Old securities (first FoP) transfer

New securities (second FoP) transfer

Transfer 1 confirmation

Transfer 2 confirmation

Margin call

Second leg settlement

Automatic DvPtransfer



Ouery

Status response

Errors validation

MT541

Data Flow

MT545

Data Flow

MT543

Data Flow

MT547

Data Flow

MT543

Data Flow

MT548

Data Flow

MT541

Data Flow

MT548

Data Flow

MT548

Data Flow

MT548

Data Flow

MT548

Data Flow

MT548

Data Flow

MT549

Data Flow

MT548

Data Flow

MT549

Data Flow

MT548

Data Flow

MT542

Data Flow

MT544

Data Flow

MT542

Data Flow

MT540

Data Flow

MT546

Data Flow

MT545

Data Flow

MT547

Data Flow

MT542

Data Flow

MT544

MT540

35

4.1.3.2 Repurchase agreement with NBR

For intra day repo with NBR only one message is needed, from the Participant and

matching is not required because the system will manage the control criteria process

(eligible securities, amount, etc). After successful validation, a DvP transaction is

immediately started.

If there are not enough securities to be blocked, the operation is immediately rejected.

Operational flow for repo trades between a participant and NBR:

Note: in case that the participant is the buyer of securities, it will send an MT 541 and

the flow will be updated accordingly.

Seller

First leg

Transaction initiation Transaction initiation


Second Leg Automatic transfer


MT543

MT547

MT548

MT545

NBR

MT545

MT547

36

SWIFT Templates



Input Output

Instruct the receipt of government securities (first leg of a Repo) MT541 MT545

Request a cancellation of a instruction previously sent (first leg

of a Repo) MT541 MT548

Instruct the delivery of government securities (first leg of a

Repo) MT543 MT547

Request a cancellation of a instruction previously sent (first leg

of a Repo) MT543 MT548

Instruct the receipt of government securities (Repo substitution) MT540 MT544

Request a cancellation of a instruction previously sent (Repo

substitution) MT540 MT548

Provide the transaction reference number in case of nonRON

trades - 548

Instruct the delivery of government securities (Repo


Request a cancellation of a instruction previously sent (Repo


Margin Call - Instruct the receipt of government securities MT540 MT548

Request to cancel a margin call instruction MT540 MT548

Margin Call - Instruct the delivery of government securities MT542 MT548

Request to cancel a margin call instruction MT542 MT548

Request for statement/status advice* MT549 MT548

Receive against payment confirmation (second leg of a Repo) - MT545

Deliver against payment confirmation (second leg of a Repo) - MT547

Provide the transaction reference number (second leg of a

Repo) in case of nonRON trades - 548

37

MT541- repo MRA and SBB operations



:16R: GENL M 1

:20C: :SEME// 16x M

:23G: NEWM CANC M 2

:16R: LINK

:20C: :PREV// 16x C 3

:16S: LINK

:16S: GENL M

:16R: TRADDET M


4


(date)(time)


5


(date)(time)

:98A: :TRAD// 8!n S

:90A: :DEAL//YIEL 15d Repo rate S

:35B: ISIN1!e12!c

[4*35x] M 6

:22F: :PROC//CLOP O 7

:25D: :AFFM// AFFI -/M 8

NAFI -/M

:70E: :SPRO// 10*35x MRA O 9

:16S: TRADDET M

:16R: FIAC M

:36B: :SETT//FAMT 15d Quantity expressed as the

face amount M


omnibus account) M

:16S: FIAC M

:16R: REPO M

:98a: :TERM// Option A: TERM//8!n (date) S

10

Option C: TERM//8!n6!n

(date)(time)

:20C: :REPO // 16x S 11

:19A: :REPA // [N]3!a15d S

:70C: :REPO// 8!n Date format O 12

:16S: REPO M

38



:16R: SETDET M

:22F: :SETR// REPU M 13

SBBK 14

:22F: :REPT// CALL S 15

:16R: SETPRTY M

:95P: :DEAG// 4!a2!a2!c M

:16S: SETPRTY M

:16R: SETPRTY S


:16S: SETPRTY S

:16R: SETPRTY S 16

:95P: :REAG// 4!a2!a2!c S

:16S: SETPRTY S

:16R: SETPRTY O



:16S: SETPRTY O

:16R: CSHPRTY S 18

:95P: :ACCW//

4!a2!a2!c

for RON

4!a2!a2!c3!c

for EUR

BIC ReGIS for RON

BIC TARGET2- Romania

for EUR

S

:16S: CSHPRTY S

:16R: CSHPRTY S 19

:95P: :PAYE//

4!a2!a2!c

For RON

4!a2!a2!c3!c

for EUR


settlement bank S

:16S: CSHPRTY S

:16R: AMT M

:19A: :SETT// [N]3!a15d M

:16S: AMT M

:16S: SETDET M

1. The fields described in this template may contain mandatory information for SWIFT

validation (M), optional for SWIFT validation but mandatory for SaFIR validation (S),

conditional (C) when their presence depends on the presence of other information and

optional (O) for all situations.



39



:20C::PREV//)



currencies.



until the cut off time of the service.


7. Mandatory only for repo MRA protocols second leg cancellation

8. If (7) is applicable this field is not mandatory. Using AFFI field indicates that for

second leg cancellation both participants involved in the protocol will send instructions

requiring matching and NAFI field indicates that second leg cancellation is unilateral.

NAFI field cannot be used for SBB contracts.

9. Optional field but, when it does exist, must be matching criteria. Identifies reverse

sell-buy and sell/buyback operations subject to MRA protocol.

10. If the parties agreed a cut off time until the instruction has to be settled in the

second leg (the closing/maturity date of the Repo), the format of the settlement date is

Option C. Otherwise, the system try to settle the instruction until the cut off time of the

service.

11. Repo agreement reference number – unique identifier assigned by both parties to

a Repo agreement (agreement reference number)

12. Used only for non-Ron Repo agreements (when settlement time lag for second leg

is different from the one in the first leg).

13. REPU is used for identifying Repo operations.

14. SBBK is used for identifying sell/buyback operations.

15. This option is used only in operations for changing the redemption date and/or

price. Its use is not allowed otherwise.



17. In option P, the seller is identified by the BIC code. If the BIC is not available,


40





MT543 – repo MRA and SBB operations



:16R: GENL M 1

:20C: :SEME// 16x M

:23G: NEWM CANC M 2

:16R: LINK

:20C: :PREV// 16x C 3

:16S: LINK

:16S: GENL M

:16R: TRADDET M


4


(date)(time)


5


(date)(time)

:98A: :TRAD// 8!n S

:90A: :DEAL//YIEL 15d Repo rate S

:35B: ISIN1!e12!c

[4*35x] M 6



NAFI -/M

:70E: :SPRO// 10*35x MRA O 9

:16S: TRADDET M

:16R: FIAC M


amount M

41




omnibus account) M

:16S: FIAC M

:16R: Repo M

:98a: :TERM// Option A: TERM//8!n (date) S 10


(date)(time)

:20C: :REPO // 16x S 11

:19A: :TRTE // [N]3!a15d S

:70C: :SECO// 8!n Date format S 12

:16S: REPO M

:16R: SETDET M


SBBK M 14


:16R: SETPRTY M

:95P: :REAG// 4!a2!a2!c M

:16S: SETPRTY M

:16R: SETPRTY S


:16S: SETPRTY S

:16R: SETPRTY S 16

:95P: :DEAG// 4!a2!a2!c S

:16S: SETPRTY S

:16R: SETPRTY O



:16S: SETPRTY O

:16R: CSHPRTY S 18

:95P: :ACCW//

4!a2!a2!c

for RON

4!a2!a2!c3!c

for EUR

BIC ReGIS for RON


EUR

S

:16S: CSHPRTY S

:16R: CSHPRTY S 19

:95P: :PAYE//

4!a2!a2!c

For RON

4!a2!a2!c3!c

for EUR


settlement bank S

:16S: CSHPRTY S

:16R: AMT M

42



:19A: :SETT// [N]3!a15d M

:16S: AMT M

:16S: SETDET M









:20C::PREV//)



currencies.


of the settlement date is Option C. Otherwise (i.e. Option A), the system will try to

settle the instruction until the service cut off time.



8. If (7) is applicable this field is not mandatory. Using AFFI field indicates that for

second leg cancellation both participants involved in the protocol will send instructions








service.


a Repo agreement (agreement reference number)

43















MT 545 This message is sent by the depository to the Participant to confirm the receipt of financial instruments against payment instruction



:16R: GENL M 1

:20C: :SEME// 16x M

:23G: NEWM CANC M 2

:16R: LINK

:20C: :RELA// 16x PREV C 3

:16S: LINK

:16S: GENL M

:16R: TRADDET M

:98C: : ESET// 8!n6!n M

:35B: ISIN1!e12!c

[4*35x] M 4



NAFI -/M

44



:70E: :SPRO// 10*35x MRA M 7

:16S: TRADDET M

:16R: FIAC M

:36B: :ESTT//FAMT 15d Quantity expressed as the

face amount M


omnibus account) M

:16S: FIAC M

:16R: REPO M


-


(date)(time)

:20C: : REPO // 16x S -

:19A: :REPA // [N]3!a15d S

:16S: REPO M

:16R: SETDET M

:22F: :SETR// 4!c M 8

:22F: :REPT// 4!c S 9

:16R: SETPRTY M

:95P: :DEAG// 4!a2!a2!c M

:16S: SETPRTY M

:16R: SETPRTY S


:16S: SETPRTY S

:16R: SETPRTY O



:16S: SETPRTY O

:16R: CSHPRTY S 11

:95P: :ACCW//

4!a2!a2!c

for RON

4!a2!a2!c3!c

for EUR

BIC ReGIS for RON

BIC TARGET2- Romania

for EUR

S

:16S: CSHPRTY S

:16R: CSHPRTY S 12

:95P: :PAYE//

4!a2!a2!c

for RON

4!a2!a2!c3!c

for EUR


settlement bank S

:16S: CSHPRTY S

45



:16R: AMT M

:19A: :ESTT// [N]3!a15d M

:16S: AMT M

:16S: SETDET M








:20C::PREV//). Otherwise, the indicator is :20C::RELA//.



6. Mandatory field if (5) applies. The indicator should be the same as in the original

MT541 instruction.

7. Identifies reverse sell-buy and sell/buyback operations subject to MRA protocol.

8. The indicator should be the same as in the original MT541 instruction.


10. If the BIC is not available, option Q should be used (name and address).





MT 547 This message is sent by the depository to the Participant to confirm the delivery of financial instruments against payment instruction



:16R: GENL M 1

46



:20C: :SEME// 16x M

:23G: NEWM CANC M 2

:16R: LINK


:16S: LINK

:16S: GENL M

:16R: TRADDET M

:98C: : ESET// 8!n6!n M

:35B: ISIN1!e12!c

[4*35x] M 4



NAFI -/M

:70E: :SPRO// 10*35x MRA M 7

:16S: TRADDET M

:16R: FIAC M


amount M


omnibus account) M

:16S: FIAC M

:16R: REPO M


-


(date)(time)

:20C: :Repo // 16x S -

:19A: :REPA // [N]3!a15d S

:16S: REPO M

:16R: SETDET M

:22F: :SETR// 4!c M 8

:22F: :REPT// 4!c S 9

:16R: SETPRTY M

:95P: :REAG// 4!a2!a2!c M

:16S: SETPRTY M

:16R: SETPRTY S


:16S: SETPRTY S

:16R: SETPRTY O

47



:95a: :BUYR// Option P: SELL//4!a2!a2!c O 10


:16S: SETPRTY O

:16R: CSHPRTY S 11

:95P: :ACCW//

4!a2!a2!c

for RON

4!a2!a2!c3!c

for EUR

BIC ReGIS for RON


EUR

S

:16S: CSHPRTY S

:16R: CSHPRTY S 12

:95P: :BENM//

4!a2!a2!c

for RON

4!a2!a2!c3!c

for EUR


settlement bank S

:16S: CSHPRTY S

:16R: AMT M

:19A: :ESTT// [N]3!a15d M

:16S: AMT M

:16S: SETDET M








:20C::PREV//). Otherwise, the indicator is :20C::RELA//.



6. Mandatory field if (5) applies. The indicator should be the same as in the original

MT543 instruction.




10. If the BIC is not available, option Q should be used (name and address).

48





MT 540 – MRA and SBB repo operations



:16R: GENL M 1

:20C: :SEME// 16x M

:23G: NEWM CANC M 2

:16R: LINK

:20C: :PREV// 16x C 3

:16S: LINK

:16S: GENL M

:16R: TRADDET M

:98a: :ADEL// Option A: ADEL//8!n

(date) S

4


(date)(time)


(date) M

5


(date)(time)

:98A: :TRAD// 8!n S

:90A: :DEAL//YIEL 15d Repo Rate S

:35B: ISIN1!e12!c

[4*35x] M 6



NAFI -/M

:70E: :SPRO// 10*35x MRA O 9

:16S: TRADDET M

:16R: FIAC M


face amount M

:97A: :SAFE// 35x

Account held by the

delivery agent (house or

omnibus account)

M

49



:16S: FIAC M

:16R: REPO M

:98a: :TERM// Option A: TERM//8!n

(date) S

10


(date)(time)

:20C: : REPO // 16x S 11

:19A: :TRTE // [N]3!a15d S

:70C: :SECO// 8!n Date S 12

:16S: REPO M

:16R: SETDET M


SBBK M 14


:16R: SETPRTY M

:95P: :DEAG// 4!a2!a2!c M

:16S: SETPRTY M

:16R: SETPRTY S

:95P: :PSET// 4!a2!a2!c SaFIR – BIC S

:16S: SETPRTY S

:16R: SETPRTY S 16

:95P: :REAG// 4!a2!a2!c S

:16S: SETPRTY S

:16R: SETPRTY O


SELL//4!a2!a2!c O

17


:16S: SETPRTY O

:16R: CSHPRTY S 18

:95P: :ACCW// 4!a2!a2!c ReGIS – BIC S

:16S: CSHPRTY S

:16R: CSHPRTY S 19

:95P: :PAYE// 4!a2!a2!c Buyer’s settlement agent’s

BIC Code S

:16S: CSHPRTY S

:16R: AMT M

:19A: :SETT// [N]3!a15d M

:16S: AMT M

:16S: SETDET M



50


system.





:20C::PREV//)

4. This option is mandatory only for transactions with non-ron financial instruments.

Otherwise, its use is not allowed.





7. Mandatory only for repo MRA protocols second leg cancellation.

8. If (7) is applicable this field is mandatory. Using AFFI field indicates that for second

leg cancellation both participants involved in the protocol will send instructions








service.


a Repo agreement (agreement reference number).








51




18. For RON denominated securities, Cash Parties Block is mandatory for SaFIR (S)

only if the buyer is a securities company. For all other cases, this block is optional.


MT 542 – MRA and SBB repo operations



:16R: GENL M 1

:20C: :SEME// 16x M

:23G: NEWM CANC M 2

:16R: LINK

:20C: :PREV// 16x C 3

:16S: LINK

:16S: GENL M

:16R: TRADDET M

:98a: :ADEL// Option A: ADEL//8!n

(date) S

4


(date)(time)


(date) M

5


(date)(time)

:98A: :TRAD// 8!n S

:90A: :DEAL//YIEL 15d Repo Rate S

:35B: ISIN1!e12!c

[4*35x] M 6



NAFI -/M

:70E: :SPRO// 10*35x MRA O 9

:16S: TRADDET M

:16R: FIAC M


face amount M

:97A: :SAFE// 35x Account held by the

delivery agent M

:16S: FIAC M

52



:16R: REPO M


(date) S

10


(date)(time)

:20C: :REPO // 16x S 11

:19A: :TRTE // [N]3!a15d S

:70C: :SECO// 8!n Date S 12

:16S: REPO M

:16R: SETDET M


SBBK M 14


:16R: SETPRTY M

:95P: :REAG// 4!a2!a2!c M

:16S: SETPRTY M

:16R: SETPRTY S


:16S: SETPRTY S

:16R: SETPRTY S 16

:95P: :DEAG// 4!a2!a2!c S

:16S: SETPRTY S

:16R: SETPRTY O


SELL//4!a2!a2!c O

17


:16S: SETPRTY O

:16R: CSHPRTY S 18


:16S: CSHPRTY S

:16R: CSHPRTY S 19

:95P: :PAYE// 4!a2!a2!c Buyer’s settlement agent’s

BIC Code S

:16S: CSHPRTY S

:16R: AMT M

:19A: :SETT// [N]3!a15d M

:16S: AMT M

:16S: SETDET M




53

system.





:20C::PREV//).

4. This option is mandatory only for non-RON transactions when it’s mandatory,

otherwise it’s not allowed.






8. If (7) is applicable this field is mandatory. Using AFFI field indicates that for second

leg cancellation both participants involved in the protocol will send instructions






second leg (the closing/maturity date of the REPO), the format of the settlement date

is Option C


a Repo agreement (agreement reference number










54


18. For RON denominated securities Cash Parties Block is mandatory for SaFIR (S)

only if the buyer is a securities company. For all other cases, this block is optional.


MT544

This message is sent by SaFIR to the Participant who buys the financial instruments in

order to confirm the transaction conclusion.

Tag Qualifier Format Other values

Comment M/O Note

:16R: GENL M 1

:20C: :SEME// 16x M

:23G: NEWM CANC M 2

:16R: LINK


:16S: LINK

:16S: GENL M

:16R: TRADDET M

:98C: :ESET// 8!n6!n M

:35B: ISIN1!e12!c

[4*35x] M 4



NAFI -/M

:70E: :SPRO// 10*35x MRA M 7

:16S: TRADDET M

:16R: FIAC M

:36B: :ESTT//FAMT 15d Quantity expressed

as the face amount M

:97A: :SAFE// 35x

Financial

instruments register

account symbol

M

:16S: FIAC M

:16R: REPO M

:98a:

:TERM//

Option A:

TERM//8!n (date) S

Option C:

TERM//8!n6!n

(date)(time)

55


Comment M/O Note

:20C: :REPO // 16x S

:19A: :TRTE // [N]3!a15d S

:16S: REPO M

:16R: SETDET M

:22F: :SETR// 4!c M 8

:22F: :REPT// 4!c S 9

:16R: SETPRTY M

:95P: :DEAG// 4!a2!a2!c M

:16S: SETPRTY M

:16R: SETPRTY S


:16S: SETPRTY S

:16R: SETPRTY O


SELL//4!a2!a2!c O

10

Option Q:

SELL//4*35x

:16S: SETPRTY O

:16R: CSHPRTY S 11


:16S: CSHPRTY S

:16R: CSHPRTY S 12

:95P: :PAYE// 4!a2!a2!c Buyer’s settlement

agent’s BIC code S

:16S: CSHPRTY S

:16R: AMT M

:19A: :ESTT// [N]3!a15d M

:16S: AMT M

:16S: SETDET M








:20C::PREV//). Otherwise, this block will have indicator :20C::RELA//.



56

6. If (7) is applicable this field is mandatory. The indicator should be the same like that

in the original instruction MT540.


8. The indicator should be the same like that in the original instruction MT540.




11. For RON denominated securities, this Block is mandatory if the buyer is a

securities company.


MT546

This message is sent by SaFIR to the Participant who sells the financial instruments in

order to confirm the transaction conclusion.


Comment M/O Note

:16R: GENL M 1

:20C: :SEME// 16x M

:23G: NEWM CANC M 2

:16R: LINK


:16S: LINK

:16S: GENL M

:16R: TRADDET M

:98C: :ESET// 8!n6!n M

:35B: ISIN1!e12!c

[4*35x] M 4



NAFI -/M

:70E: :SPRO// 10*35x MRA M 7

:16S: TRADDET M

:16R: FIAC M

:36B: :ESTT//FAMT 15d Quantity expressed as

the face amount M

57


Comment M/O Note

:97A: :SAFE// 35x Financial instruments

register account symbol M

:16S: FIAC M

:16R: REPO M

:98a:

:TERM//

Opţiune A: TERM//8!n

(date) S

Opţiune C:

TERM//8!n6!n

(date)(time)

:20C: :REPO // 16x S

:19A: :TRTE // [N]3!a15d S

:16S: REPO M

:16R: SETDET M

:22F: :SETR// 4!c M 8

:22F: :REPT// 4!c S 9

:16R: SETPRTY M

:95P: :REAG// 4!a2!a2!c M

:16S: SETPRTY M

:16R: SETPRTY S


:16S: SETPRTY S

:16R: SETPRTY O

:95a: :BUYR// Option P:

BUYR//4!a2!a2!c O

10

Option Q:

BUYR//4*35x

:16S: SETPRTY O

:16R: CSHPRTY S 11


:16S: CSHPRTY S

:16R: CSHPRTY S 12

:95P: :BENM// 4!a2!a2!c Seller’s settlement

agent’s BIC code S

:16S: CSHPRTY S

:16R: AMT M

:19A: :ESTT// [N]3!a15d M

:16S: AMT M

:16S: SETDET M




58





:20C::PREV//). Otherwise, this block will have indicator :20C::RELA//.



6. If (7) is applicable this field is mandatory. The indicator should be the same like that

in the original instruction MT542.






11. For RON denominated securities, this Block is mandatory if the buyer is a

securities company.


MT540 - repo substitution



:16R: GENL M 1

:20C: :SEME// 16x M

:23G: NEWM CANC M 2

:16R: LINK


:16S: LINK

:16R: LINK 4

:22F: :LINK//WITH S

:13A: :LINK//542 S

:20C: :PREV// 16x M

:16S: LINK

:16S: GENL M

:16R: TRADDET M

:98a: :SETT// Option A: SETT//8!n (date) M 5

59




(date)(time)

:98A: :TRAD// 8!n S


:35B: ISIN1!e12!c

[4*35x] M 6

:70E: :SPRO// 10*35x MRA O/M 7

:16S: TRADDET M

:16R: FIAC M


amount M


omnibus account) M

:16S: FIAC M

:16R: REPO M

:98a: :TERM// Option A: TERM//8!n (date) S 8


(date)(time)

:20C: :REPO // 16x S 9

:19A: :REPA // [N]3!a15d S

:16S: REPO M

:16R: SETDET M

:22F: :SETR//REPU M

:16R: SETPRTY M

:95P: :DEAG// 4!a2!a2!c M

:16S: SETPRTY M

:16R: SETPRTY S


:16S: SETPRTY S

:16R: SETPRTY S 10

:95P: :REAG// 4!a2!a2!c S

:16S: SETPRTY S

:16R: SETPRTY O



:16S: SETPRTY O

:16S: SETDET M




system.


60



3. When the Function of Message is CANC the block „LINK” refers to the MT540

message which was previously sent and the indicator is PREV. When the Function of

Message is NEWM the block „LINK” refers to the step 1 initiation message

(MT541/MT543 0r MT540/MT542) and the indicator is RELA.

4. This block is used to condition the processing of the two messages. Even if a single

instruction (message) can not be processed, then all other interdependent instructions

will not be processed either.


of the settlement date is Option C. If Option A, the system try to settle the instruction







Option C.

9. Repo Reference number – Single identification number common to all the collateral

pieces (agreement reference number)





MT542 - repo substitution



:16R: GENL M 1

:20C: :SEME// 16x M

:23G: NEWM CANC M 2

:16R: LINK


:16S: LINK

61



:16R: LINK 4

:22F: :LINK//WITH S

:13A: :LINK//540 S

:20C: :PREV// 16x M

:16S: LINK

:16S: GENL M

:16R: TRADDET M


5


(date)(time)

:98A: :TRAD// 8!n S


:35B: ISIN1!e12!c

[4*35x] M 6

:70E: :SPRO// 10*35x MRA O/M 7

:16S: TRADDET M

:16R: FIAC M


amount M


omnibus account) M

:16S: FIAC M

:16R: REPO M


8


(date)(time)

:20C: :REPO // 16x S 9

:19A: :REPA // [N]3!a15d S

:16S: REPO M

:16R: SETDET M

:22F: :SETR//REPU M

:16R: SETPRTY M

:95P: :REAG// 4!a2!a2!c M

:16S: SETPRTY M

:16R: SETPRTY S


:16S: SETPRTY S

:16R: SETPRTY S 10

:95P: :DEAG// 4!a2!a2!c S

:16S: SETPRTY S

:16R: SETPRTY O


62




:16S: SETPRTY O

:16S: SETDET M




system.




3. When the Function of Message is CANC the block „LINK” refers to the MT542

message which was previously sent and the indicator is PREV.

When the Function of Message is NEWM the block „LINK” refers to the MT541/MT543

message which was previously sent and the indicator is RELA.

4. Both messages use the code WITH. It links together one or more instructions which

should be executed together. Even if one single instruction cannot be executed, then

all the other instructions should also be kept pending.










service.

9. Repo Reference number – Single identification number common to all the collateral

pieces (agreement reference number)



11. In option P, the buyer is identified by the BIC code. If the BIC is not available,


63

SWIFT confirmation templates MT544 and MT 546 are similar to similar confirmations

above, but include also repo details.

4.1.4 Pledges

4.1.4.1 Pledge between two SaFIR’ Participants

SaFIR is able to manage: pledge registration, pledge changing, pledge release,

pledge execution, pledge redemption warning.

Pledge can be set up between two SaFIR’ Participants (own name or client name),

between a SaFIR’ Participant and a third party (which is not a SaFIR’ Participant), or

to support settlement of DNS systems authorized by the NBR.

Pledge substitution means that a certain ISIN pledged for a certain quantity can be

substituted by another ISIN for a certain quantity.

Securities pledged can be executed through sale or through appropriation.

Securities pledged can be transferred (in case of portfolio transfer) using MT527.

Operational flow for pledge operations between two SaFIR participants:

64

Pledger

Pledgee

MT527

Data Flow

MT558

Data Fl

D

a Flow

low

MT527

Data Flow

MT558

Data Flow

Data Flow

Data Flow

Data Flow

MT558

Data Flow

MT527

Data Flow

MT558

Data Flow

MT527

Data Flow

MT558

Data Flow

MT527

Data Flow

MT558

Data Flow

MT527

Data Flow

MT558

Data Flow

Data Flow

Data Flow

MT540

Data Flow

MT544

Data Flow

Buyer

Pledger

MT541

Data Flow

MT545

Data Flow

Data Flow

MT547

Data Flow

MT543

Data Flow

Pledge registration

Request pledge registration

Registration confirmation

Cancellation

Request for Cancellation


Substitution

Request substitution

Substitution confirmation

Pledge execution:

Appropriation

Request for FoP transfer

Settlement confirmation

Pledge execution:

Sale

Request for DvP transfer


Pledge release

Release warning

Automatic pledge release

or

Earlier request for pledge release

Lacking of securities (Pledger)

Validation error

At cut-off time expiration

Data Flow

MT599

Data Flow

Data Flow

MT558

Data Flow

Data Flow

Data Flow

MT527

Data Flow

MT558

MT558

MT599

MT558

MT599

MT599

65

For pledges between a participant and a third party, the operational flow are the same

as the previous, taking into accounts that:

information of the pledge received from the third party are sent through manual

interface by SaFIR operator;

when a Pledgee i.e. a third party executes the pledge, it has to open a cash or

a securities account with a Participant and such Participant will send the

message to SaFIR to execute the pledge.

4.1.4.2 Pledge to support settlement of DNS

Pledge is registered based on the instruction received only from the Pledger

Participant and no matching is required.

SaFIR must validate the message received from Participants with the information

regarding the eligible issues and the relevant haircut.

On the basis of a request received from DNS, RTGS request to SaFIR the execution

of the pledge.

The operational flow for pledge set to support settlement of DNS systems authorized

by the NBR:

MT527

Data Flow

MT558

Data Flow

Pledge registration

Pledge registration request

Pledge confirmation

Request for settlement status

Request for status

Settlement status

Pledge execution

Request for pledge execution

Pledge execution confirmation

Pledge release

Pledge notification

End of session notification

Request for pledge release

Pledge release confirmation

D

N

S

R

T

G

S

MT599

Data Flow

N

B

R

MT558

Data Flow

MT527

Data Flow

MT527

Data Flow

MT558

Data Flow

Pledger

MT599

66

Swift Templates


Function FIN – SaFIR

Input Output

Instruct the specific action on a collateral

management transaction MT527 MT558


sent MT527 MT558

Transfer of portfolio for pledged securities MT527 MT558

Pledge execution through sale - instruct the of

receipt government securities MT541

MT545

MT599

Pledge execution through sale -instruct the

delivery of government securities MT543 MT547

Pledge execution through appropriation -instruct

the receipt of government securities MT540

MT544

MT599

Request for release MT527 MT558

Request for maturity change MT527 MT558

Request for substitution MT527 MT558

Pledge advise DNS - MT599

Pledge Release warning - MT599

67

MT527

This message is sent by a Participant to a depositary to instruct the performance of a

specific action on a collateral management transaction.

This message is also used to request the cancellation of a previously sent instruction.



:16R: GENL M 1

:28E: 5n/4!c M

:20C: :SEME// 16x M

:20C: :SCTR// 16x C

:20C: :CLCI// 16x C

:23G: NEWM CANC M 2

:98a: :EXRQ// Option A: EXRQ//8!n

(date) M

3

Option C: EXRQ//8!n6!n

(date)(time)

:22H: :CINT//INIT TERM M

:22H: :COLA//SECL M

:22H: :REPR//PROV RECE M 4

:22F: :PRSS/NBOR/APRO SALE S 5

:16R: COLLPRTY M

:95a: :PTYA// Option P:

PTYA//4!a2!a2!c M

6

Option Q: PTYA//4*35x

:97A: :SAFE// 35x S

:16S: COLLPRTY M

:16R: COLLPRTY M

:95a: :PTYB// Option P:

PTYB//4!a2!a2!c M

7

Option Q: PTYB//4*35x

:97A: :SAFE// 35x O 8

:16S: COLLPRTY M

:16R: COLLPRTY M

:95P: :TRAG// 4!a2!a2!c M

:16S: COLLPRTY M

:70E: :CINS// 10*35x S 9

:16R: LINK

:20C: :PREV// 16x C 10

:16S: LINK

:16S: GENL M

:16R: DEALTRAN M

:98a: :TERM// Option A: TERM//8!n M 11

68



(date)


(date)(time)

:19A: :TRAA// 3!a15d S

:16S: DEALTRAN M

:16R: SECMOVE M

:22H: :INOU//COLI COLO M 12

:35B: ISIN1!e12!c

[4*35x] M 13

:36B: :QSEC//FAMT 15d Quantity expressed as the

face amount M

:17B: :COLL//Y M

:16S: SECMOVE M




system.




3. If the parties agreed a cut off time until the instruction has to be executed, the

format of the execution date is Option C. Otherwise, the system try to execute the

instruction until the cut off time of the pledge service.

4. Whether the client is the collateral taker (RECE) or giver (PROV)

5. The indicator shows the settlement process in which the collateral will be settled:

APRO for a pledge execution by appropriation and SALE for pledge execution by sale.

6. In option P, the party A is identified by the BIC code. If the BIC is not available,

option Q should be used (name and address). The use of of option Q same time with

the indicator :97A::SAFE is not allowed.

7. In option P, the party B is identified by the BIC code. If the BIC is not available,



8. This field it’s not allowed for pledge in favor of DNS. It’s mandatory in case of a

pledge between 2 clients of the same bank.

9. Identification of the pledge scope and if it is a portfolio transfer of pledged

69

securities. The field content is standardised.

10. The block „LINK” is conditioned by the function of the message. This block is

present when the Function of Message is CANC with the option :20C::PREV//. If the

function of the message is NEWM and the indicator 22H::CINT//TERM, then LINK

block will be present with the option 20C::RELA//.

11.If the parties agree a cut-off time for pledge release, than Option C will be used. In

case of option A, the system will release the pledges at relevant service cut-off. Option

C it’s not allowed for pledge in favor of DNS.

12. Securities are to be delivered out of sender's account (COLO) or received into

sender's account (COLI)


MT527 for substitution operations and for quantity change



:16R: GENL M 1

:28E: 5n/4!c M

:20C: :SEME// 16x M

:20C: :SCTR// 16x C

:20C: :CLCI// 16x C

:23G: REPL CANC M 2


(date) M

3

Option C:

EXRQ//8!n6!n

(date)(time)

:22H: :CINT//CADJ M

:22H: :COLA//SECL M



:16R: COLLPRTY M


PTYA//4!a2!a2!c M

6


:97A: :SAFE// 35x S

:16S: COLLPRTY M

:16R: COLLPRTY M

:95a: :PTYB// Option P: M 7

70



PTYB//4!a2!a2!c


:97A: :SAFE// 35x O

:16S: COLLPRTY M

:16R: COLLPRTY M

:95P: :TRAG// 4!a2!a2!c M

:16S: COLLPRTY M

:70E: :CINS// 10*35x S 8

:16R: LINK


:16S: LINK M

:16S: GENL M

:16R: DEALTRAN M 10


(date) M

11

Option C:

TERM//8!n6!n

(date)(time)

:19A: :TRAA// 3!a15d S

:16S: DEALTRAN M

:16R: SECMOVE M

:22H: :INOU//COLI //COLO M 12

:35B: ISIN1!e12!c

[4*35x] M 13

:36B: :QSEC//FAMT 15d Quantity expressed as

the face amount M

:17B: :COLL//Y M

:16S: SECMOVE M

:16R: SECMOVE M

:22H: :INOU//COLO //COLI M

:35B: ISIN1!e12!c

[4*35x] M

:36B: :QSEC//FAMT 15d Quantity expressed as

the face amount M

:17B: :COLL//Y M

:16S: SECMOVE M





71

(the function of the message is CANC). In this case, all fields marked with “O”

indicator in red color are optional. Block B (DEALTRAN) should be present in the

cancelation message (SWIFT validation rules) and will be identical whith the one from

the registration message.














securities.. The field content is standardised.

9.The block „LINK” is conditioned by the function of the message. This block is

present when the Function of Message is CANC with the option :20C::PREV// and the

reference of the previous message sent will be used. If the function of the message is

REPL the LINK block will use the reference number allocated by the system to the

pledge registration operation and the indicator will be 20C::RELA//

10. it’s used only for cancellation messages.

11. If the parties agree a cut-off time for pledge release, than Option C will be used. In

case of option A, the system will release the pledges at relevant service cut-off. Option

C it’s not allowed for pledge in favor of DNS.

12. Securities are to be delivered out of sender's account (COLO) or received into

sender's account (COLI)


Note 1: According with SWIFT Network Validated Rules, if the value of field

:23G:<Function> subfield 1 is REPL, then sequence Deal Transaction Detail is not

allowed, otherwise it is mandatory (Error code(s): E08).

72

Note 2: in case of quantity change it’s enough only one indicator (COLO or COLI)

MT527 for changing maturity date



:16R: GENL M 1

:28E: 5n/4!c M :28E:

:20C: :SEME// 16x M

:20C: :SCTR// 16x C

:20C: :CLCI// 16x C

:23G: NEWM CANC M 2

:98a: :EXRQ// Option A: EXRQ//8!n (date) M

3


(date)(time)

:22H: :CINT//DADJ M

:22H: :COLA//SECL M



:16R: COLLPRTY M

:95a: :PTYA// Option P: PTYA//4!a2!a2!c M 6


:97A: :SAFE// 35x S

:16S: COLLPRTY M

:16R: COLLPRTY M

:95a: :PTYB// Option P: PTYB//4!a2!a2!c M 7


:97A: :SAFE// 35x O

:16S: COLLPRTY M

:16R: COLLPRTY M

:95P: :TRAG// 4!a2!a2!c M

:16S: COLLPRTY M

:70E: :CINS// 10*35x S 8

:16R: LINK


:16S: LINK M

:16S: GENL M

:16R: DEALTRAN M

:98a: :TERM// Option A: TERM//8!n (date) M


(date)(time)

73



:19A: :TRAA// 3!a15d S

:16S: DEALTRAN M





(the function of the message is CANC). In this case, all fields marked with “O”

indicator in red color are optional.














securities.. The field content is standardised.

9. In the block „LINK” indicator is PREV when the Function of Message is CANC,

otherwise is RELA followed by the reference number allotted by the system to the

initial registration.

The block „LINK” is conditioned by the function of the message. This block is present

when the Function of Message is CANC with the option :20C::PREV// and the

reference of the previous message sent will be used. If the function of the message is

REPL the LINK block will use the reference number allocated by the system to the

pledge registration operation and the indicator will be 20C::RELA//.

74

MT558



:16R: GENL M 1

:28E: 5n/4!c M :28E:

:20C: :SEME// 16x M

:20C: :CLTR// 16x C

:23G: INST CAST

REST M 2

:98a: :EXRQ// Option A: EXRQ//8!n (date) M


(date)(time)

:22H: :CINT//INIT TERM

DADJ M

:22H: :COLA//SECL M

:22H: :REPR//PROV RECE M

:22F: :PRSS/NBOR/APRO SALE S

:16R: COLLPRTY M

:95a: :PTYA// Option P: PTYA//4!a2!a2!c M


:97A: :SAFE// 35x S

:16S: COLLPRTY M

:16R: COLLPRTY M

:95a: :PTYB// Option P: PTYB//4!a2!a2!c M


:97A: :SAFE// 35x O

:16S: COLLPRTY M

:16R: COLLPRTY M

:95P: :TRAG// 4!a2!a2!c M

:16S: COLLPRTY M

:16R STAT _ _ _ S

:25D: 4!c//4!c S

:16R REAS _ _ _ S

:24B: 4!c//4!c S 3

:16R REAS _ _ _ S

:16R STAT _ _ _ S

:16R: LINK

:20C: :RELA// 16x M

:16S: LINK

:16S: GENL M

:16R: DEALTRAN M


(date) M

75




(date)(time)

:19A: :TRAA// 3!a15d M

:16S: DEALTRAN M



depending on the presence of the other fields.

2. Parameter CAST is used to answer to a cancellation request.

3. The specifications for the Reason Codes corresponding to the Status Qualifier are

described in the SWIFT User Handbook and in Annex 1 of this SWIFT user guide.

Status description (:25D:)

Qualifier Codes

Cancellation Processing Status

CPRC

CAND The cancellation request previously received from you has been completed.

DEND The request for cancellation previously received from you will not be executed.

REJT The cancellation request previously received

from you has been rejected for further processing.

Instruction Processing Status

IPRC

CAND The instruction has been cancelled (in an MT548, as an answer to an MT549 instruction status request).

PACK The instruction has been acknowledged / accepted for further processing.

REJT The instruction has been rejected.

TREA The transaction has been treated

Matching Status MTCH MACH The instruction has been matched.

NMAT The instruction has not been matched.

76

MT558 for substitution operations



:16R: GENL M 1

:28E: 5n/4!c M

:20C: :SEME// 16x M

:20C: :CLTR// 16x C

:23G: REST M 2


(date) M


(date)(time)

:22H: :CINT//CADJ M

:22H: :COLA//SECL M

:22H: :REPR//PROV RECE M

:22F: :PRSS/NBOR/APRO SALE S

:16R: COLLPRTY M


PTYA//4!a2!a2!c M


:97A: :SAFE// 35x S

:16S: COLLPRTY M

:16R: COLLPRTY M

:95a: :PTYB// Option P:

PTYB//4!a2!a2!c M


:97A: :SAFE// 35x O

:16S: COLLPRTY M

:16R: COLLPRTY M

:95P: :TRAG// 4!a2!a2!c M

:16S: COLLPRTY M

:16R STAT _

_ _ S

:25D: :RPRC//REPL

PEND

DEND

PACK

REJT

S

:16R REAS _ _ _ S

:24B: 4!c//4!c S 3

:16S REAS _ _ _ S

:16S STAT _ _ _ S

:70D: :CINS// 6*35x S 4

:16R: LINK

:20C: :RELA// 16x M

77



:16S: LINK

:16S: GENL M

:16R: DEALTRAN M


(date) M


(date)(time)

:19A: :TRAA// 3!a15d M

:16S: DEALTRAN M



depending on the presence of the other fields.

2. Parameter REST is used to answer to a replacement request.

3. The specifications for the Reason Codes corresponding to the Status Qualifier are

described in the SWIFT User Handbook and in Annex 1 of this SWIFT user guide.

4. The reference number assigned by the system to the respective transaction.

MT 540 – pledge execution through appropriation



:16R: GENL M 1

:20C: :SEME// 16x M

:23G: NEWM M 2

:16R: LINK

:20C: :COLR// 16x S 3

:16S: LINK

:16S: GENL M

:16R: TRADDET M

:98A: :SETT// 8!n M

:90A: :DEAL//YIEL/ S

:35B: ISIN1!e12!c

[4*35x] M 4

:16S: TRADDET M

:16R: FIAC M

:36B: :SETT//FAMT 15d Quantity expressed as the face amount M

78



:97A: :SAFE// 35x M

:16S: FIAC M

:16R: SETDET M

:22F: :SETR//COLI M

:16R: SETPRTY M

:95P: :DEAG// 4!a2!a2!c M

:16S: SETPRTY M

:16R: SETPRTY S


:16S: SETPRTY S

:16R: SETPRTY M 5

:95P: :REAG// 4!a2!a2!c M

:16S: SETPRTY M

:16R: SETPRTY O



:16S: SETPRTY O

:16R: AMT S

:19A: :SETT// [N]3!a15d S

:16S: AMT S

:16S: SETDET M


optional for SWIFT but mandatory for SaFIR (S), conditional (C) when their presence


system.

2. According with system rules this message cannot be canceled.

3. The block „LINK” is present with COLR qualifier and followed by transaction

reference number allotted by the system to initial pledge registration.






Note: MT544 template is described in the FoP messages paragraph.

79

MT 541 – pledge execution through sale



:16R: GENL M 1

:20C: :SEME// 16x M

:23G: NEWM CANC M 2

:16R: LINK

:20C: :PREV// 16x C 3

:16S: LINK

:16S: GENL M

:16R: TRADDET M


4


(date)(time)

:98A: :TRAD// 8!n S


:35B: ISIN1!e12!c

[4*35x] M 5

:16S: TRADDET M

:16R: FIAC M


amount M


omnibus account) M

:16S: FIAC M

:16R: SETDET M

:22F: :SETR//COLI M

:16R: SETPRTY M

:95P: :DEAG// 4!a2!a2!c M 6

:97A: :SAFE// 35x M

:16S: SETPRTY M

:16R: SETPRTY S


:16S: SETPRTY S

:16R: SETPRTY M 7

:95P: :REAG// 4!a2!a2!c M

:16S: SETPRTY M

:16R: SETPRTY O



:16S: SETPRTY O

:16R: CSHPRTY S 9

80



:95P: :ACCW//

4!a2!a2!c

for RON

4!a2!a2!c

3!c

for EUR

BIC ReGIS for RON


EUR

S

:16S: CSHPRTY S

:16R: CSHPRTY S 10

:95P: :PAYE//

4!a2!a2!c

for RON

4!a2!a2!c3!c

for EUR


settlement bank S

:16S: CSHPRTY S

:16R: AMT M

:19A: :SETT// [N]3!a15d M

:16S: AMT M

:16S: SETDET M




system.





:20C::PREV//).





6. BIC code and account of the pledger.





81


only if the buyer is a securities company. For all other cases this block is optional.


MT 543 – pledge execution through sale



:16R: GENL M 1

:20C: :SEME// 16x M

:23G: NEWM CANC M 2

:16R: LINK

:20C: :COLR// 16x M 3

:16S: LINK

:16R: LINK

:20C: :PREV// 16x C 4

:16S: LINK

:16S: GENL M

:16R: TRADDET M


5


(date)(time)

:98A: :TRAD// 8!n S


:35B: ISIN1!e12!c

[4*35x] M 6

:16S: TRADDET M

:16R: FIAC M


amount M


omnibus account) M 7

:16S: FIAC M

:16R: SETDET M

:22F: :SETR//COLI M

:16R: SETPRTY M

:95P: :REAG// 4!a2!a2!c M

:16S: SETPRTY M

:16R: SETPRTY S


82

:16S: SETPRTY S

:16R: SETPRTY M 8

:95P: :DEAG// 4!a2!a2!c M

:16S: SETPRTY M

:16R: SETPRTY O



:16S: SETPRTY O

:16R: CSHPRTY S 10

:95P: :ACCW//

4!a2!a2!c

for RON

4!a2!a2!c

3!c

for EUR

BIC ReGIS for RON


EUR

S

:16S: CSHPRTY S

:16R: CSHPRTY S 11

:95P: :BENM//

4!a2!a2!c

for RON

4!a2!a2!c3!c

for EUR


settlement bank S

:16S: CSHPRTY S

:16R: AMT M

:19A: :SETT// [N]3!a15d M

:16S: AMT M

:16S: SETDET M




system.




3. The block „LINK” is present with COLR qualifier followed by the reference number

assigned by the system to the pledge registration operation,

4. The block „LINK” with the field :20C::PREV// is present if the Function of Message

is CANC.




83


7. Pledger account






only if the seller is a securities company. For all other cases this block is optional..


Note: MT545 and MT547 templates are described in the Delivery/receive against

payment paragraph.

Few particular cases for pledge execution through sale

MT 542 - pledge execution through sale when the buyer is the client of the

pledgee



:16R: GENL M 1

:20C: :SEME// 16x M

:23G: NEWM M 2

:16R: LINK

:20C: :COLR// 16x S 3

:16S: LINK

:16S: GENL M

:16R: TRADDET M

:98A: :SETT// 8!n M


:35B: ISIN1!e12!c

[4*35x] M 4

:16S: TRADDET M

:16R: FIAC M


amount M

:97A: :SAFE// 35x Pledger’s account M

:16S: FIAC M

:16R: SETDET M

84



:22F: :SETR//COLI M

:16R: SETPRTY M

:95P: :REAG// 4!a2!a2!c Pledgee’s BIC M

:97A: :SAFE// 35x Client account of pledgee S

:16S: SETPRTY M

:16R: SETPRTY S


:16S: SETPRTY S

:16R: SETPRTY S 5

:95P: :DEAG// 4!a2!a2!c Pledgee’s BIC S

:16S: SETPRTY S

:16R: SETPRTY O



:16S: SETPRTY O

:16R: AMT S

:19A: :SETT// [N]3!a15d S

:16S: AMT S

:16S: SETDET M




system.










MT 542 - pledge execution through sale when the pledgee is the client of the

buyer

85



:16R: GENL M 1

:20C: :SEME// 16x M

:23G: NEWM M 2

:16R: LINK

:20C: :COLR// 16x S 3

:16S: LINK

:16S: GENL M

:16R: TRADDET M

:98A: :SETT// 8!n M


:35B: ISIN1!e12!c

[4*35x] M 4

:16S: TRADDET M

:16R: FIAC M


amount M

:97A: :SAFE// 35x Pledger’s account M

:16S: FIAC M

:16R: SETDET M

:22F: :SETR//COLI M

:16R: SETPRTY M

:95P: :REAG// 4!a2!a2!c Buyers BIC M

:97A: :SAFE// 35x Buyers account (house account) S

:16S: SETPRTY M

:16R: SETPRTY S


:16S: SETPRTY S

:16R: SETPRTY M 5

:95P: :DEAG// 4!a2!a2!c M

:16S: SETPRTY M

:16R: SETPRTY O



:16S: SETPRTY O

:16R: AMT S

:19A: :SETT// [N]3!a15d S

:16S: AMT S

:16S: SETDET M


86



system.










4.1.5 Initial placement of a new issue

4.1.5.1 Initial placement of new issues for RON denominated securities

Settlement of an issue RON denominated may be performed on a net basis or on a

gross basis.

After the settlement, confirmations are sent to participants through SWIFT messages.

Operational flow:

N

B

R

AUCTION DATE

Import Results

SETTLEMENT DATE NET SETTLEMENT

PROCESS

Net processing

Inform net debit/credit position

Complete DvP


Participant

MT598

87

4.1.5.2 Initial placement of new issues for non RON denominated securities

Settlement of an issue Non-RON denominated is performed only on a gross basis.

After the import of auction results, SaFIR inform the Participants about the amount in

the foreign currency they have to pay to the MPF on settlement date.

Transaction are kept pending until SaFIR receives from the NBR payment

confirmations for each settling Participant.

Operational Flow:

SWIFT templates


Input Output

Confirmation of net settlement process on RON

denominated securities - MT598

Participant notification for non-RON denominated

securities auction - MT515

Auction settlement confirmation for non-RON

denominated -

MT545

MT547

N

B

R

AUCTION DATE

Import Results

Inform Participants

Inform NBR

SETTLEMENT DATE

(AD+N)

Funds transfer confirmation

Complete DvP


Data Flow

Data Flow

MT515

Data Flow

Participant

MT545

88

MT598



20 16x M

12 3!n M

77E M

:16R: GENL M 1

:28E: 5n/4!c MORE M

LAST

ONLY

:20C: :PREV// 16x S 2

:90C: 5n3!a15d S

:90C: 5n3!a15d S

:16S: GENL M

12 3!n S

Content of MT5xx (format 3!n)

12 3!n S

Content of MT5xx (format 3!n)




system.

2. This field is present only if Page Number is greater than 1 and refers to the previous

page (message) Field 20.

MT515

89

This message is used to confirm the details of a purchase or sale and to provide

details on the payment side of the transaction.



:16R: GENL M 1

:20C: :SEME// 16x M

:23G: NEWM CANC M 2

:22F: :TRTR//TRAD M

:16R: LINK


:16S: LINK

:16S: GENL M

:16R: CONFDET M

:98A: :TRAD// 8!n M



(date)(time)

:90B: :DEAL//ACTU/ 3!a15d M

:22H: :BUSE//BUYI FREE M 4

:22H: :PAYM//APMT Transaction is against

payment M

:16R: CONFPRTY M

:95P: :SELL// 4!a2!a2!c M

:16S: CONFPRTY M

:36B: :CONF//FAMT 15d Quantity expressed as the

face amount M

:35B: ISIN1!e12!c

[4*35x] M 5

:16S: CONFDET M




system.



3. When the Function of Message is CANC than the field is :20C::PREV//.

4. FREE it’s used only in case of special issues.


90

4.2 Corporate action messages

Corporate action requires processing automatically started by the system, on specific

dates, on the basis of the payment plan data. These kinds of operations are:

coupon/interest payment, partial redemption, optional redemption, redemption at

maturity.

SaFIR will inform Participants entitled to participate in a corporate action process and,

once the settlement is carried out (netted or not), settlement confirmations will be sent.

Operational flow for corporate action:

SWIFT templates



Input Output

Corporate action notification - MT564

Request to cancel a corporate action notification - MT564

Corporate action confirmation - MT566/MT598

Participant

Payment date -7

Corporate Action Notification

Request for cancellation

Payment date

Processing corporate action

Corporate Action Confirmation

Or

Bilateral Net Processing

Net Settlement confirmation

MT564

Data Flow

MT598

Data Flow

MT564

Data Flow

MT566

91

MT564

This message is used to provide a participant with the details of a corporate action

event.



:16R: GENL M 1

:20C: :CORP// 16x M

:20C: :SEME// 16x M

:23G: NEWM CANC M 2

:22F: :CAEV//

INTR Interest/ coupon payment M

REDM Final maturity

PCALL Partial redemption

DRAW Optional redemption (Drawing)

:22F: :CAMV//MAND M

:98C: :PREP// 8!n6!n S

:25D: :PROC//COMP M

:16R: LINK

:20C: :PREV// 16x C 3

:16S: LINK

:16S: GENL M

:16R: USECU M

:35B: ISIN1!e12!c

[4*35x] M 4

:16R: ACCTINFO M

:97A: :SAFE// 35x Safekeeping account (house or

omnibus account) M

:93B: :ELIG//FAMT 15d Quantity expressed as the face

amount S

:16S: ACCTINFO M

:16S: USECU M

:16R: CADETL M

:98A: :RDTE// 8!n S

:98A: :PAYD// 8!n S

:98A: :REDM// 8!n S 5

:92A: :FMRD// [N]15d S 6

:92A: :INTR// [N]15d S 7

:92A: :REDM// [N]15d S 8

:70E: ADTX// 10x35 O

:16S: CADETL M



92


system.




:20C::PREV//).


5. This parameter is used in case of a redemption operation

6. This parameter is used in case of a partial redemption

7. This parameter is used in case of a interest/coupon payment operation.

8. This parameter is used in case of a redemption operation.

MT566

This message is used to confirm to the Participant that securities and/or cash have

been credited/debited to an account as the result of a corporate action event.



:16R: GENL M 1

:20C: :CORP// 16x M

:20C: :SEME// 16x M

:23G: NEWM REVR M 2

:22F: :CAEV// INTR Interest/ coupon payment M

REDM Final maturity

PCAL Partial redemption

DRAW Optional redemption (Drawing)

:98C: :PREP// 8!n6!n S

:16R: LINK

:20C: :PREV// 16x C 3

:16S: LINK

:16S: GENL M

:16R: USECU M

:97A: :SAFE// 35x Safekeeping account (house or

omnibus account) M

:35B: ISIN1!e12!c

[4*35x] M 4

93



:93B: :CONB//FAMT 15d Quantity expressed as the face

amount S

:16S: USECU M

:16R: CADETL M

:98A: :RDTE// 8!n S

:98A: :PAYD// 8!n S

:98A: :REDM// 8!n S 5

:92A: :FMRD// [N]15d S 6

:92A: :INTR// [N]15d S 7

:92A: :REDM// [N]15d S 8

:16S: CADETL M

:16R: CACONF M

:13A: :CAON// 3!c M

:22F: :CAOP//CASH M

:16S: CACONF M




system.

2. Function REVR is used to reverse to a posting on a previously sent confirmation.

3. The block „LINK” is present when the Function of Message is REVR (with the field

:20C::PREV//).


5. This parameter is used in case of a redemption operation

6. This parameter is used in case of a partial redemption

7. This parameter is used in case of a interest/coupon payment operation.

8. This parameter is used in case of a redemption operation.

94

4.3 Statement messages

4.3.1 Request for Statement/Status Advice

MT 549

This message is sent by an account owner to depositary to request one of the

following statements:

statement of holdings (MT 535)

statement of transactions (MT 536)

statement of pending transactions (MT 537)

settlement status and processing advice (MT 548)

settlement status and processing advice for pledge operations (MT 558)



:16R: GENL M 1

:20C: :SEME// 16x M

:98C: :STAT// 8!n6!n S

:13A: :REQU// 3!c M

:97A: :SAFE// 35x Securities account (house or omnibus

account) M

:22F: :STTY//4!c see MT535 template S

:22F: :STBA//4!c see MT535 template S

:16S: GENL M

:16R: BYSTAREA S 2

:25D: 4!c see parameters table O

:24B: 4!c see parameters table O

:35B: ISIN1!e12!c

[4*35x] S 3

:16S: BYSTAREA S

:16R: REF S

:20C: :PREV// 16x M

:16S: REF S

95




system.

2. Block (B) Statement by Status/Reason and/or by Financial Instrument Block and

block (C) Statement by Instruction Reference Block are mutually exclusive. If is

present (B) then (C) is not allowed.


4.3.2 Settlement status and processing advice

MT 548

This message is sent by depositary to participant and is used to advise the status of a

settlement instruction previously sent by the Participant.

The underlying instruction must be either a deliver or receive and be either free or

against payment. It is also used to reply to a cancellation request previously sent by

the account owner



:16R: GENL M 1

:20C: :SEME// 16x M

:23G: INST CAST M 2

:16R: LINK

:20C: :RELA// 16x M

:16S: LINK

:16R: STAT M

:25D: :4!c// 4!c M 3

:16R: REAS O

:24B: :4!c// 4!c M 4

:70D: :REAS// :4!c//6*35x M 5

:16S: REAS O

:16S: STAT M

:16S: GENL M

96




system.

2. Function CAST is used to answer to a request of cancellation of an instruction

previously sent (the function of the message is CAST).

3. Status of the transaction are used according to SWIFT user manual.

4, 5. Reason codes and narrative field are used according to SWIFT User Handbook

and with Annex 1 from this SWIFT user guide.The specifications for the Reason

Codes corresponding to the Status Qualifier are described in the SWIFT User

Handbook.

97

Decisional Flow:

4.3.3 Statement of accounts

This message is sent by a depository to a Participant at the end of day or as response

to a request for statement/status advice (MT 549).

This message is used to report, at a specified moment in time, the quantity and

identification of securities and other holdings which the depository holds for the

account owner.

Checking :25D::IPRC//REJT :24B::REJT// reason

YES

No

:25D::IPRC//PACK

Matching

(if necessary)

YES

No

Settling

YES

Confirmation

No :25D::MTCH//NMAT :24B::NMAT// reason

:25D::MTCH//MACH

Validation :25D::IPRC//REJT :24B::REJT//

Matching

if necessary

Settling

Waiting? :25D::MTCH//NMAT :24B::NMAT//

:25D::MTCH//MACH

YES

No No

Waiting ?

YES

:25D::SETT//PENF :24B::PENF// reason

:25D::SETT//PENF :24B::PENF//

98

MT 535



:16R: GENL M 1

:28E: 5n/4!c M

:13A: :STAT// 3!c S

:20C: :SEME// 16x M

:23G: NEWM CANC M 2

:98C: :STAT// M

:22F: :SFRE//ADHO //DAIL S 3

:22F: :CODE//COMP //DELT S 4

:22F: :STTY//CUST //ACCT M 5

:22F: :STBA//SETT S 6

:16R: LINK

:20C: :RELA// 16x :PREV// C 7

:16S: LINK

:97A: :SAFE// 35x M

:17B: :ACTI// Y or N M 8

:17B: :CONS// Y or N M

:16S: GENL M

:16R: SUBSAFE M

:97A: :SAFE// 35x M


:16R: FIN M

:35B: ISIN1!e12!c

[4*35x] M 10

:90B: :MRKT//ACTU 3!a15d

Estimated indicative price

expressed as (Currency Code)

(Price).

S 11

:93B: AGGR//FAMT 15d M

:93B: AVAI//FAMT 15d S

:93B: NVAL//FAMT 15d S

:16R: SUBBAL C 12

:93B: :4!c//FAMT

15d (see table 2) M

:90E: :MRKT//UKWN M

:19A: :HOLD// 3!a15d M 13

:16S: SUBBAL C

:16S: FIN M

:16S: SUBSAFE M


99



2. Function CANC is used to request the cancellation of a previously sent statement.

3. Shows if the statement is being sent as part of a requested (ADHO) or is a a daily

report (DAYL)

4. Shows if the statement gives complete information (COMP) or contains changes

which have not yet been reported (DELT).

5. Shows if the statement is a custody statement (CUST) or an accounting statement

(ACCT).

6. The type of balances on which the statement is prepared (follow link).

7. The block „LINK” is not present when the message function is NEWM and indicator

is :SFRE//DAIL.

8, If the flag is Y then sequence "SUBSAFE" is mandatory otherwise is not allowed.

9. If the flag is Y then subsequence "FIN" is mandatory otherwise is not allowed.


11. Mandatory for SWIFT if is an account statement.

12. Is present only if field :93B::NVAL//FAMT is different from 0.

13. Represents the holding value oh that ISIN (market value) Table 2

Possible values of parameters related to indicator (:93C:) PEND Pending

Delivery Balance of securities that are pending delivery.

PENR Pending Receipt

Balance of securities that are pending receipt.

PLED Pledged Balance of securities that belong to the safekeeping account indicated within this message, and that are pledged.

RSTR Restricted Balance of securities that may only be sold under certain conditions or require legal documents.

4.3.4 Statement of transactions



100

This message is used to provide the details of increases and decreases of holdings

which occurred during a specified period, for all or selected securities in the specified

safekeeping account or sub-safekeeping account which the depository holds for the

Participant.

MT 536



:16R: GENL M 1

:28E: 5n/4!c M

:13A: :STAT// 3!c S

:20C: :SEME// 16x M

:23G: NEWM CANC M 2

:69B: :STAT// :4!c//8!n6!n/8!n6!n M


:16R: LINK

:20C: :RELA// 16x :PREV C 4

:16S: LINK

:97A: :SAFE// 35x M


:17B: :CONS// Y or N M

:16S: GENL M

:16R: SUBSAFE M

:97A: :SAFE// 35x M


:16R: FIN M

:35B: ISIN1!e12!c

[4*35x] M 7

:16R: TRAN M

:16R: LINK

:20C: :TRRF// 16x M

:16S: LINK

:16R: TRANSDET M

:36B: :PSTA//FAMT/ 15d

:19A: :PSTA// [N]3!a/15d

S

:22F: :TRAN//SETT

//BOLE

//COLL

//CORP

(see table 2) M 8

:22H: :REDE//RECE //DELI M 9

101



:22H: :PAYM//APMT //FREE

M 10

:98C: :ESET// 8!n6!n M

:16R: SETPRTY M 11

:95C: :DEAG// 4!a2!a2!c :REAG// Counterparties BIC code M

:16S: SETPRTY M

:16R: SETPRTY M

:95C: :PSET// 4!a2!a2!c BIC SaFIR M

:16S: SETPRTY M

:16S: TRANSDET M

:16S: TRAN M

:16S: FIN M

:16S: SUBSAFE M






report (DAYL)

4. The block „LINK” is not present when the message function is NEWM and indicator

is :SFRE//DAIL.

5. If the flag is Y then sequence "SUBSAFE" is mandatory otherwise is not allowed.

6.If the flag is Y then subsequence "FIN" is mandatory otherwise is not allowed.


8. Type of activity

9. This field indicates if the securities have been debited (DELI) or credited (RECE)

from/to the safekeeping account.

10. Whether the securities movement is free (FREE) or against payment (APMT)

11. Repetitive block.

102

Table 2

Parameter table regarding the type of activity (:22F:TRAN)

Qualifier Description

BOLE Borrowing/Lending Activity

COLL Collateral Activity

SETT Settlement and Clearing Activity

CORP Corporate Action Activity.

4.3.5 Statement of pending operations



This message is used to provide the details of pending increases and decreases of

holdings which occurred during a specified period, for all or selected securities in the

specified safekeeping account or sub-safekeeping account which the depository holds

for the Participant.

MT 537



:16R: GENL M 1

:28E: 5n/4!c M

:13A: :STAT// 3!c S

:20C: :SEME// 16x M

:23G: NEWM CANC M 2

:98C: :STAT// 8!n6!n M


:22H: :STST//STST //TRAN 4

:16R: LINK

:20C: :RELA// 16x :PREV// C 5

:16S: LINK

:97A: :SAFE// 35x M

:17B: :ACTI// Y or N M

:16S: GENL M

:16R: STAT M

:25D: :4!c//4!c (see table 3) M 6

:16R: REAS M

103

:24B: :4!c//4!c (see Annex 1) M 7

:70D: :REAS// :4!c//6*35x (see Annex 1) 8

:16S: REAS

:16R: TRAN M

:16R: LINK M

:20C: :TRRF// 16x M

:16S: LINK M

:16S: TRAN M

:16S: STAT M






report (DAYL)

4. Shows if the statement is structured based on the status (STST) or based on

transaction(TRAN). This template is made on status base.

5.The block „LINK” is not present when the message function is NEWM and indicator

is :SFRE//DAIL.

6. Status of the transaction are used according to SWIFT User Handbook.

7, 8. Reason codes and narrative field are used according to SWIFT User Handbook

and with Annex 1 from this SWIFT user guide.

Table 3

Parameter table :25D:

Qualifier

description

Qualifier Code

Description (4!c) (4!c)

Processing status (at

account servicer

level) of the pending

settlement

instruction.

IPRC

CAND The instruction has been cancelled.

CANP

A cancellation request from yourself for

this instruction is pending, waiting for

further processing

CPRC

A cancellation request from your

counterparty for this transaction is

pending, waiting for your cancellation

request.

PACK The instruction has been

acknowledged/accepted for further

104

processing.

Matching status of

the pending

settlement

instruction

MTCH MACH The instruction has been matched.

NMAT The instruction has not been matched

Settlement status of

the pending

settlement

instruction/securities

movement

SETT

PEND

Deliver or receipt instruction is

pending. Settlement at the instructed

settlement date is still possible.

PENF

Deliver or receipt instruction is failing.

Settlement at the instructed settlement

date is no longer possible.

4.3.6 Broadcast messages MT 599 This message is used for pledge maturity warning, broadcast messages, pledge advice to DNS and pledge execution confirmation sent to the pledger.



:20: 16x M 1

:21: 16x S 2

:79: 35*50x M 3

1. This field specifies the reference number assigned by the Sender to unambiguously

identify the message.

2. This field contains a reference to the related message. It is a mandatory field for the

SaFIR only when the message is used to respond to a request for pledge advice, i.e.

the MT 599.

3. This field contains the free format message. Its content is standardized (see Annex

2).

105

5 Examples

5.1 Deliver/Receive against payment - initiation and cancellation

MT 541 Receive against payment - initiation and cancellation

Commercial Bank of Romania has bought on behalf of its client S.C. INDUSTRY S.A. government securities (ISIN RO0304CTNOY9) from S.C. INDUSTRY S.A., client of ABN AMRO Bank. Commercial Bank of Romania BIC code: RNCBROBU Commercial Bank of Romania account: RNCB1 ABN AMRO BIC code: ABNAROBU ABN AMRO account: ABNA1 Trade date: 27.11.2003 Settlement date: 27.11.2003 Face amount of the securities: 100.000.000 RON (10 pieces) The price of the securities: 25% Settlement amount: 97.958.183,67 RON

RNCBROBU MT 541 NBORROBS


A. General Information A. General Information

:16R:GENL :16R:GENL

:20C::SEME//123 :20C::SEME//132

:23G::NEWM :23G::CANC

:16S::GENL A1. Link

B. Trade details :16R::LINK

:16R:TRADDET :20C::PREV//123

:98A::TRAD//20031127 :16S::LINK

:98A::SETT//20031127 :16S::GENL

:90A::DEAL//YIEL/25 B. Trade details

:35B::ISIN RO0304CTNOY9 :16R:TRADDET

:16S::TRADDET :98A::TRAD//20031127

C. Financial Instruments/Account :98A::SETT//20031127

:16R::FIAC :90A::DEAL//YIEL/25

:36B::SETT//FAMT/100000000, :35B::ISIN RO0304CTNOY9

:97A::SAFE//RNCB1 :16S::TRADDET

:16S::FIAC C. Financial Instruments/Account

E. Settlement Details :16R::FIAC

:16R::SETDET :36B::SETT//FAMT/100000000,

:22F::SETR//TRAD :97A::SAFE//RNCB1

E1. Settlement Parties :16S::FIAC

:16R::SETPRTY E. Settlement Details

:95P::DEAG//ABNAROBU :16R::SETDET

:16S::SETPRTY :22F::SETR//TRAD

106

E1. Settlement Parties E1. Settlement Parties

:16R::SETPRTY :16R::SETPRTY

:95P::PSET//NBORROBS :95P::DEAG//ABNAROBU

:16S::SETPRTY :16S::SETPRTY



:95Q::SELL//SCINDUSTRYSA :95P::PSET//NBORROBS


E3. Amounts E1. Settlement Parties

:16R::AMT :16R::SETPRTY

:95P::SETT//RON97958183,67 :95Q::SELL//SCINDUSTRYSA

:16S::AMT :16S::SETPRTY

:16S::SETDET E3. Amounts

:16R::AMT

:95P::SETT//RON97958183,67

:16S::AMT

:16S::SETDET

107

MT 543 Deliver against payment - initiation and cancellation

ABNAROBU MT 543 NBORROBS



:16R:GENL :16R:GENL

:20C::SEME//321 :20C::SEME//331


:16S::GENL A1. Link



:98A::TRAD//20031127 :16S::LINK

:98A::SETT//20031127 :16S::GENL

:90A::DEAL//YIEL/25 B. Trade details

:35B::ISIN RO0304CTNOY9 :16R:TRADDET

:16S::TRADDET :98A::TRAD//20031127


:16R::FIAC :90A::DEAL//YIEL/25


:97A::SAFE//ABNA1 :16S::TRADDET




:22F::SETR//TRAD :97A::SAFE//ABNA1



:95P::REAG//RNCBROBU :16R::SETDET

:16S::SETPRTY :22F::SETR//TRAD



:95P::PSET//NBORROBS :95P::REAG//RNCBROBU




:95P::BUYR//SCINDUSTRYSA :95P::PSET//NBORROBS


E3. Amounts E1. Settlement Parties

:16R::AMT :16R::SETPRTY

:95P::SETT//RON97958183,67 :95P::BUYR//SCINDUSTRYSA

:16S::AMT :16S::SETPRTY

:16S::SETDET E3. Amounts

:16R::AMT

:95P::SETT//RON97958183,67

:16S::AMT

:16S::SETDET

108

5.2 Receive/deliver free of payment - initiation and cancellation

MT 540 Receive free of payment - initiation and cancellation

S.C. INDUSTRY S.A. want to move his portfolio from ABN AMRO Bank to Commercial Bank of (ISIN RO0304CTNOY9) Commercial Bank of Romania BIC code: RNCBROBU Commercial Bank of Romania account: RNCB1 ABN AMRO BIC code: ABNAROBU ABN AMRO account: ABNA1 Trade date: 27.11.2003 Settlement date: 27.11.2003 Face amount of the securities: 100.000.000 RON (10 pieces)




:16R:GENL :16R:GENL

:20C::SEME//123 :20C::SEME//132


:16S::GENL A1. Link



:98A::SETT//20031127 :16R::LINK

:98A::TRAD//20031127 :16S::GENL

:35B::ISIN RO0304CTNOY9 B. Trade details

:16S::TRADDET :16R:TRADDET


:16R::FIAC :98A::TRAD//20031127


:97A::SAFE//RNCB1 :16S::TRADDET




:22F::SETR//PORT :97A::SAFE//RNCB1



:95P::DEAG//ABNAROBU :16R::SETDET

:16S::SETPRTY :22F::SETR//PORT



:95P::PSET//NBORROBS :95P::DEAG//ABNAROBU


:16S::SETDET E1. Settlement Parties

:16R::SETPRTY

:95P::PSET//NBORROBS

:16S::SETPRTY

:16S::SETDET

109

MT 542 Deliver free of payment - initiation and cancellation




:16R:GENL :16R:GENL

:20C::SEME//321 :20C::SEME//331


:16S::GENL A1. Link



:98A::SETT//20031127 :16S::LINK

:98A::TRAD//20031127 :16S::GENL

:35B::ISIN RO0304CTNOY9 B. Trade details

:16S::TRADDET :16R:TRADDET


:16R::FIAC :98A::TRAD//20031127


:97A::SAFE//ABNA1 :16S::TRADDET




:22F::SETR//PORT :97A::SAFE//ABNA1



:95P::REAG//RNCBROBU :16R::SETDET

:16S::SETPRTY :22F::SETR//PORT



:95P::PSET//NBORROBS :95P::REAG//RNCBROBU


:16S::SETDET E1. Settlement Parties

:16R::SETPRTY

:95P::PSET//NBORROBS

:16S::SETPRTY

:16S::SETDET

110

5.3 Pledge registration - initiation and cancellation

Pledger MT 527 initiation and cancellation

Commercial Bank of Romania has pledged government securities (ISIN RO0304CTNOY9) in favor of ABN AMRO Bank. Pledger: Commercial Bank of Romania BIC code: RNCBROBU Commercial Bank of Romania account: RNCB1 Pledgee: ABN AMRO BIC code: ABNAROBU ABN AMRO account: ABNA1 Registration date: 27.11.2003 Termination date: 27.06.2004 Face amount of the securities: 100.000.000 RON Transaction amount: 97.958.183,67 RON




:16R:GENL :16R:GENL

:20C::SEME//123 :20C::SEME//963

:20C::SCTR//456 :20C::SCTR//456

:20C::CLCI//789 :20C::CLCI//789


:98C::EXRQ//20031127123000 :98C::EXRQ//20031127123000

:22H::CINT//INIT :22H::CINT//INIT

:22H::COLA//SECL :22H::COLA//SECL

:22H::REPR//PROV :22H::REPR//PROV

:22F::PRSS/NBOR/APRO :22F::PRSS/NBOR/APRO

:16R:COLLPRTY :16R:COLLPRTY

:95P::PTYA//RNCBROBU :95P::PTYA//RNCBROBU

:97A::SAFE//RNCB1 :97A::SAFE//RNCB1

:16S:COLLPRTY :16S:COLLPRTY


:95P::PTYB//ABNAROBU :95P::PTYB//ABNAROBU

:97A::SAFE//ABNA1 :97A::SAFE//ABNA1



:95P::TRAG//NBORROBS :95P::TRAG//NBORROBS


:70E::CINS//900 :70E::CINS//900

:16S::GENL A1. Link

B. Deal Transaction details :16R::LINK

:16R:DEALTRAN :20C::PREV//123

:98A::TERM//20040627 :16S::LINK

:19A::TRAA//RON97958183,67 :16S::GENL

:16S::DEALTRAN B. Deal Transaction details

111

C. Securities Movements :16R:DEALTRAN

:16R::SECMOVE :98A::TERM//20040627

:22H::INOU//COLO :19A::TRAA//RON97958183,67

:35B::ISIN RO0304CTNOY9 :16S::DEALTRAN

:36B::QSEC//FAMT/100000000, C. Securities Movements

:17B::COLL//Y :16R::SECMOVE

:16S::SECMOVE :22H::INOU//COLO

:35B::ISIN RO0304CTNOY9

:36B::QSEC//FAMT/100000000,

:17B::COLL//Y

:16S::SECMOVE

112

Pledgee MT 527 initiation and cancellation




:16R:GENL :16R:GENL

:20C::SEME//741 :20C::SEME//751

:20C::SCTR//852 :20C::SCTR//852

:20C::CLCI//369 :20C::CLCI//369


:98C::EXRQ//20031127123000 :98C::EXRQ//200311271230

:22H::CINT//INIT :22H::CINT//INIT

:22H::COLA//SECL :22H::COLA//SECL

:22H::REPR//RECE :22H::REPR//RECE

:22F::PRSS/NBOR/APRO :22F::PRSS/NBOR/APRO


:95P::PTYA//ABNAROBU :95P::PTYA//ABNAROBU

:97A::SAFE//ABNA1 :97A::SAFE//ABNA1



:95P::PTYB//RNCBROBU :95P::PTYB//RNCBROBU

:97A::SAFE//RNCB1 :97A::SAFE//RNCB1



:95P::TRAG//NBORROBS :95P::TRAG//NBORROBS


:70E::CINS//900 :70E::CINS//900

:16S::GENL A1. Link

B. Deal Transaction details :16R::LINK

:16R:DEALTRAN :20C::PREV//741

:98A::TERM//20040627 :16R::LINK

:19A::TRAA//RON97958183,67 :16S::GENL

:16S::DEALTRAN B. Deal Transaction details

C. Securities Movements :16R:DEALTRAN

:16R::SECMOVE :98A::TERM//20040627

:22H::INOU//COLI :19A::TRAA//RON97958183,67

:35B::ISIN RO0304CTNOY9 :16S::DEALTRAN

:36B::QSEC//FAMT/100000000, C. Securities Movements

:17B::COLL//Y :16R::SECMOVE

:16S::SECMOVE :22H::INOU//COLI


:36B::QSEC//FAMT/100000000,

:17B::COLL//Y

:16S::SECMOVE

113

5.4 Corporate action messages

MT564 Corporate action notification

Ministry of Public Finance will pay the interest for the government securities - ISIN RO0304CTNOY9. Before payment date, ABN AMRO Bank will receive a notification from SaFIR.

Preparation date of the notification: 26.11.2003

ABN AMRO house account in SaFIR: ABNA0

Total eligible for interest payment: 10.000.000.000.000 RON

Record date: 02.12.2003

Payment date: 03.12.2003

Interest rate: 26,23%

NBORROBS MT564 ABNAROBU

A. General Information

:16R:GENL

:20C::CORP//INTR34

:20C::SEME//578

:23G:NEWM

:22F::CAEV//INTR

:22F::CAMV//MAND

:98C:PREP//20031126095511

:25D::PROC//COMP

:16S::GENL

B. Underlying Securities

:16R:USECU


B1.Account Information

:16R::ACCTINFO

:97A::SAFE//ABNA0

:93B::ELIG//FAMT/10000000000000,

:16S::ACCTINFO

:16S:USECU

D. Corporate Action Details

:16R:CADETL

:98A::RDTE//20031202

:98A::PAYD//20031203

:92A::INTR//26,23

:16S:CADETL

114

MT566 Corporate action confirmation

Ministry of Public Finance has paid the interest for the government securities - ISIN RO0304CTNOY9. After the payment is concluded, SaFIR sends a notification to ABN AMRO Bank.

Preparation date of the notification: 03.12.2003

ABN AMRO house account in SaFIR: ABNA0

Total eligible for interest payment: 10.000.000.000.000 RON

Record date: 02.12.2003

Payment date: 03.12.2003

Interest rate: 26,23%

NBORROBS MT566 ABNAROBU

A. General Information

:16R:GENL

:20C::CORP//INTR34

:20C::SEME//579

:23G:NEWM

:22F::CAEV//INTR

:98C:PREP//20031203120000

:25D::PROC//COMP

:16S::GENL

B. Underlying Securities

:16R:USECU

:97A::SAFE//ABNA0


:93B::ELIG//FAMT/10000000000000,

:16S:USECU

C. Corporate Action Details

:16R:CADETL

:98A::RDTE//20031202

:98A::PAYD//20031203

:92A::INTR//26,23

:16S:CADETL

D. Corporate Action Confirmation

:16R:CACONF

:22F::CAOP//CASH

:16S:CACONF

115

6 Matching criteria

Initial message

MATCHING KEY

Fre

e o

f P

aym

en

t (5

40

/54

2)

Pu

rcha

se

/Sa

le (

541

/543

)

Rep

o r

eg

istr

ation (

54

1/5

43

)

Rep

o s

ub

stitu

tio

n, re

gis

tra

tio

n

(54

2/5

40

)

Ple

dge

Re

gis

tratio

n (

52

7)

Ple

dge

sub

stitu

tio

n (

527

)

Function of the Message x x x x x x

Registration date na na na na x x

Type of instruction na na na na x x

Exposure type na na na na x x

Process Indicator na na na na x x

Code of system operator na na na na x x

Collateral Instruction na na na na x x

Link x* na na x* na na

Settlement date x x x x na na

Trade date na x x x na na

Late delivery date (only for nonRON)

na x x x na na

Price x* x x x na na

ISIN code x x x x x x

Quantity x x x x x x

Collateral Flag na na na na x x

ISIN code na na na na na x

Quantity na na na na na x

Collateral Flag na na na na na x

Maturity date/time of a repo na na x x na na

Repo reference na na x x na na

Repurchase amount na na x x na na

Type of Settlement Transaction x x x x na na

Settlement Transaction Condition x* na na na na na

Place of settlement x x x x na na

Cash amount & Currency x* x x x* x na

116

Release date na na na na x na

x* - valid only for some messages

Cancel of a message*

MATCHING KEY

Fre

e o

f P

aym

en

t (5

40

/54

2)

Pu

rcha

se

/Sa

le (

541

/543

)

Rep

o r

eg

istr

ation (

54

1/5

43

)

Rep

o s

ub

stitu

tio

n,

reg

istr

ation

(5

42/5

40

)

Ple

dge

Re

gis

tratio

n (

52

7)

Ple

dge

sub

stitu

tio

n (

527

)

Senders reference x x x x x x

Registration date na na na na x x

Type of instruction na na na na x x

Exposure type na na na na x x

Process Indicator na na na na x x

Code of system operator na na na na x x

Collateral Instruction na na na na x x

Link x* na na x* na na

Settlement date x x x x na na

Trade date na x x x na na

Late delivery date (only for nonRON)

na x x x na na

Price x* x x x na na

ISIN code x x x x x x

Quantity x x x x x x

Collateral Flag na na na na x x

ISIN code na na na na na x

Quantity na na na na na x

Collateral Flag na na na na na x

Maturity date/time of a repo na na x x na na

Repo reference na na x x na na

Repurchase amount na na x x na na

Type of Settlement Transaction x x x x na na

Settlement Transaction Condition x* na na na na na

Place of settlement x x x x na na

117

Cash amount & Currency x* x x x* x na

Release date na na na na x na

* in case of a cancellation, matching will be made with the initial message of the sender

7 Validation rules

Field name Criteria

Trade date, registration date must be today or back date, valid and working date

Settlement date, late delivery date, release date, repo second leg

must be today or forward date, valid and working date

ISIN must be registered in SaFIR data base

Counterparty must be the sender of the matching message

Beneficiary of money** must be BIC code of settlement agent of the buyer

Paying institution** must be BIC code of settlement agent of the seller

118

8 Annex 1

SaFIR Reason Codes and narrative fields

The fields used are 25D “Status Code”, 24B “Reason Code” and for narrative reason field

“70D”.

The field 25D has the following format:

:4!c/[8c]/4!c - (Qualifier) (Data Source Scheme) (Status Code)

The field 24B has the following format:

:4!c/[8c]/4!c - (Qualifier) (Data Source Scheme) (Reason Code)

The field 70D has the following format:

:4!c//6*35x - (Qualifier) (Narrative)

The optional “Data Source Scheme” part is not used.

Also, as a Swift rule, 24B “Status Code” part is equal with the 24B “Qualifier”.

SaFIR uses the following Reason Codes:

1. for 25D “Qualifier” CPRC (this are the Cancel Reason Codes used by SaFIR transactions):

a) for “Status Code“ CAND:

:25D::CPRC//CAND

:24B::CAND//CANI - The instruction has been cancelled as you requested.

:25D::CPRC//CAND

:24B::CAND//CANS - The instruction has been cancelled by the system.

:25D::CPRC//CAND

:24B::CAND//NARR

:70D::REAS//narrative_reason

WHERE narrative_reason is a SaFIR validation rule. Normally this narrative option is not used

since the validation is also done before the transaction is generated, but it may appear.

:25D::CPRC//DEND

:24B::DEND//DCAN - The cancellation request has been denied since the instruction has

already been cancelled.

:25D::CPRC//DEND

:24B::DEND//DPRG - The cancellation request/repo call request has been denied because the

process of settlement is in progress.

25D::CPRC//DEND

:24B::DEND//DSET - The cancellation request/repo call request has been denied since the

instruction has already settled.

119

b) for “Status Code“ REJT:

:25D::CPRC//REJT

:24B::REJT//NARR

:70D::REAS//Service not Running

:25D::CPRC//REJT

:24B::REJT//IIND - Unrecognized, invalid or missing Common Reference.

:25D::CPRC//REJT

:24B::REJT//NRGN - The cancellation request has been rejected since the instruction could not

be found.

2. for 25D “Qualifier” IPRC:

a) for “Status Code” PACK:

:25D::IPRC//PACK - The instruction has been acknowledged/accepted for further processing

by the account servicer (technical receipt)

b) for “Status Code” REJT:

:25D::IPRC//REJT

:24B::REJT//NARR


WHERE “narrative_reason” can be:

Reference is missing

Reference must be 16x

Function of the message is missing

Function of the message is invalid

Previous reference is missing

Could not identify appropriate operation code. Message structure is invalid or ambiguous

Currency is missing or empty

Cash currency cannot contain but alphabetical upper case letters

Trade date is missing

Wrong specification for trade date

Trade date cannot be after current business date

Late delivery date/time specification is forbidden for local currency denominated securities

Settlement date or time is mandatory for local currency denominated securities

Cannot specify settlement both as date and as time in the same message

Settlement time specification is forbidden for foreign currency denominated securities

Cannot specify late delivery both as date and as time in the same message

Late delivery date/time specification is required

Settlement date is missing or is incorrect specified

Settlement date must be in current business date

Wrong specification for cut off date

For local currency issues, cut off date must be the settlement date

Cut off date cannot be set before settlement date

Wrong specification for cut off time

Cutoff time cannot be set in the past

120

For local currency issues, cut off time must be during settlement date

Specified issue is not valid in SaFIR

Specified issue is _STATUS_

Cannot trade BSE issues

Face amount is missing or invalid Invalid face amount

Face amount must be multiple of minimum tradeable amount

Place of Settlement is missing

Place of settlement must be _SaFIR_BIC_

Place of settlement is invalid

Cash Amount is missing or invalid

Error in cash amount specification

Cash currency must be equal to issue currency

Deal yield is missing

Type Of Settlement Transaction is missing

Type Of Settlement Transaction is invalid

Settlement Transaction Condition is missing

Settlement Transaction Condition is invalid

For local currency issues, TRAD type of settlement transaction requires trade between

participant and own client or between brokerage company and its settlement agent or between

security companies having the same settlement agent

For foreign currency issues, TRAD type of settlement transaction requires trade between

participant and own client

OWNI type of settlement transaction requires transfer of portfolio between different

participants

Safekeeping Account is missing or invalid

Invalid safekeeping account specification

Invalid participant in safekeeping account specification

Invalid account code in safekeeping account specification

Delivering Agent not valid in SaFIR

Delivering agent is not active

Delivering Agent cannot be _PARTICIPANT_CLASS_

Delivering agent must be the sender of this message

Analytic account for delivering agent is _STATUS_

Synthetic account for delivering agent is _STATUS_

_ACCOUNT_TYPE_ account is not allowed for _PARTICIPANT_ROLE_

_ACCOUNT_TYPE_ synthetic account not found for _PARTICIPANT_

Receiving Agent not valid in SaFIR

Receiving agent is not active

Receiving Agent cannot be _PARTICIPANT_CLASS_

Receiving agent must be the sender of this message

Analytic account for receiving agent is _STATUS_

Synthetic account for receiving agent is _STATUS_

Invalid safe account specification for FoP Single

No active pledge contract with reference _REFERENCE_

No active pledge contract with reference _REFERENCE_ for _ISIN_

Pledge for DNS can only be executed by RTGS

Error retrieving contract with reference _REFERENCE_

No active repo contract with reference: _REFERENCE_

Field ':70C:Repo' allowed only for NON RON repo operations

121

Invalid cutoff date/time for repo second leg

Account With Institution is not an active participant

Invalid Account With Institution

Account With Institution is mandatory for RON denominated securities if the buyer is a

securities company

Buyer Settlement Agent is mandatory for RON denominated securities if the buyer is a

securities company

If Account With Institution is present then the Paying Institution is mandatory

The Buyer Cash Agent is incorrect

Seller Settlement Agent is mandatory for RON denominated securities if the seller is a

securities company

If Account With Institution is present then the Beneficiary of Money is mandatory

The Seller Cash Agent is incorrect

Deliverer cash agent is the same with receiver cash agent. Use MT540 and MT542 instead

If Account With Institution is present then the Paying Institution is mandatory

The Buyer Cash Agent is incorrect

If Account With Institution is present then the Beneficiary of Money is mandatory

The Seller Cash Agent is incorrect

Deal yield is missing

Type Of Settlement Transaction is missing

Type Of Settlement Transaction is invalid

Trade Date and/or Transaction Yield tag(s) not present

Link Type Indicator tag not present

Place of Settlement tag not present

Sequence E1 Settlement Parties: Safekeeping Account not consistent with Delivering Party

Repo repurchase amount not found

Invalid repo repurchase date/time

Invalid repo closure indicator

Invalid repo closure date

Related reference(RELA - LINK block) should not be specified in a repo registration

Intra-day Repo with NBR not allowed on this type of issue

Invalid repurchase amount for intra-day Repo with NBR

Invalid cash amount for intra-day Repo with NBR

Invalid market value for intra-day Repo with NBR

Repo contract no not found

Existent repo with contract number: _CONTRACT_

Registration date not found

Maturity date not found

Maturity date before start date

Maturity date before first leg cutoff date

Maturity date after second leg cutoff date

Repo not allowed when a total redemption is going to occur between the first and second leg

settlement dates

No repo contract with reference _REFERENCE_

Repo repurchase amount not found

Invalid repo repurchase date/time

Reference of the related FoP Message not found

Repo amount not found

Invalid repo closure indicator

122

Related reference(RELA - LINK block) should not be specified in a repo registration

No repo contract with number: _CONTRACT_

Existing repo with contract number: _CONTRACT_

Registration date not found

Repo not allowed when a total redemption is going to occur between the first and second leg

settlement dates

Invalid dates

Could not find FUTURE second leg for repo contract no: _CONTRACT_

Issue _ISIN_ does not exist in the database

Participant with BIC code = _PARTICIPANT_ does not exist in the database

Account code _ACCOUNT_ not valid

Safekeeping account _ACCOUNT_ for ISIN _ISIN_ does not exist in the database

No message with sender = _PARTICIPANT_ and reference = _PREVIOUS_REFERENCE_

could be found in the database

Maturity time not allowed to be specified for DNS pledge

Invalid registration date

Invalid maturity date

Invalid message function

Invalid In/Out indicator

Invalid RECE/PROV indicator

Invalid execution method _METHOD_

Invalid execution method _METHOD_ for DNS pledge

Invalid Pledge Scope code (CINS)

Contract number not specified

Existing pledge with contract number: _CONTRACT_

Collateral reference not specified

Contract number not specified

No active pledge contract with reference: _REFERENCE_ contract No: _CONTRACT_ and

pledger: _PARTICIPANT_

Safekeeping Account is missing or invalid

Invalid safekeeping account specification

Invalid participant in safekeeping account specification

Invalid account code in safekeeping account specification

Transaction reference is missing or empty

Transaction reference cannot be longer than 16 characters

Related reference is missing or empty

Related reference cannot be longer than 16 characters

Account identification is missing or empty

Account identification cannot be longer than 35 characters

Date currency amount field is missing or empty

Date specification is invalid

Date specification does not follow YYMMDD pattern

Ordering Institution is missing or invalid

Ordering Institution is invalid

Ordering Institution BIC is mandatory

and represents:

_STATUS_ = SaFIR status

123

_SaFIR_BIC_ = the SaFIR BIC code

_ISIN_ = the security ISIN

_ACCOUNT_ = the Account number

_ACCOUNT_TYPE_ = the Account type

_PARTICIPANT_ = the Participant BIC code

_PARTICIPANT_ROLE_ = the Participant role

_PARTICIPANT_CLASS_ = the Participant class

_CONTRACT_ = the Contract number

_REFERENCE_ = the Message/Transaction reference

_PREVIOUS_REFERENCE_ = the previous reference

_METHOD_ = the pledge execution method

3. for 25D “Qualifier” MTCH:

25D::MTCH//MACH - The instruction has been matched.

4. for 25D “Qualifier” SETT:

a) for “Status Code“ PEND:

Deliver or receipt instruction is pending. Settlement at the instructed settlement date is still

possible

:25D::SETT//PEND

:24B::PEND//NARR

:70D::REAS//_PENDING_STATUS_

WHERE _PENDING_STATUS_ is the SaFIR pending status

b) for “Status Code“ PENF:

Deliver or receipt instruction is failing. Settlement at the instructed settlement date is no longer

possible.

:25D::SETT//PENF

:24B::PENF//NARR


WHERE “narrative_reason” can be:

CANCELLED – FoP Cutoff Reached – Funds settlement failed

CANCELLED – DvP Cutoff Reached – Funds settlement failed

CANCELLED – FoP Cutoff Reached – Securities settlement failed

CANCELLED – DvP Cutoff Reached – Securities settlement failed

CANCELLED – FoP Cutoff Reached – Matching failed

CANCELLED – DvP Cutoff Reached – Matching failed

CANCELLED – FoP Cutoff Reached – Authorizations failed

CANCELLED – DvP Cutoff Reached – Authorizations failed

CANCELLED – relevant authority decision

CANCELED - repo repurchase date/time was non-working

124

9 Annex 2

Automatic MT599 notification messages:

Event English

issue status modify Issue ISIN has changed its status from oldStatus to newStats

issue modify Data for Issue ISIN has been changed.

OR

changedField for issue ISIN has been changed.

OR

changedFieldsList for issue ISIN have been changed.

participant status

changed

Participant participantSwiftBic has changed its status to nextStatus

participant role

changed

Participant participantSwiftBic has changed its role from originalRole to

newRole

pledge maturity

warning

ISIN: ISIN

Contract No: contractNo

Event: event

EventDate: eventDate

DvP pledge execution

confirmation (sent to

the pledger)

DvP Pledge Executed for contract: contractNo (*)

FoP pledge execution

confirmation (sent to

the pledger)

FoP Pledge Executed for contract: contractNo (*)

BoldItalictext is in fact the actual value

(*) the text in the current version is without the contract

ISIN = identification of the financial instrument

oldStatus = initial status, before a modification was performed

newStatus = final status, after a modification was performed

changedField = the information that was modified (eg., market value, haircut)

changeFieldList = a list of information previously specified

participantSwiftBic = participant BIC

originalRole = initial role, before a change of role was performed

newRole = final role, as result of a change of role

125

contractNo = reference number of a contract

event =name of the event (eg. coupon/interest payment, total/partial/optional redemption)

event date = date of the event

126

10 Annex 3

Pledge scope codification

Code Explanation

100 Pledge registered in order to settled though SENT

101 Pledge registered in order to settled though BVB

102 Pledge registered in order to settled though SNCDD

103 Pledge registered in order to settled though VISA

104 Pledge registered in order to settled though MASTERCARD

105 Pledge registered in order to settled though Paper Clearing House

200 Lombard facilities

800 Other scopes (NOT under Collateral legislation)

900 Other scopes (under Collateral legislation)

In case of the pledge transfer, this indicator is: :70E::CINS/code/TRTG

Date post:	13-Apr-2018
Category:	Documents
Upload:	phunganh
View:	219 times
Download:	0 times

Settlement and Financial Instruments Registration … 1 General Information 1.1 SaFIR functions The...

Documents