MT 504 Field Specifications

11. Field 22a: Indicator

FORMAT

Option F	:4!c/[8c]/4!c	(Qualifier)(Data Source Scheme)(Indicator)
Option H	:4!c//4!c	(Qualifier)(Indicator)

PRESENCE

Mandatory in mandatory sequence A

QUALIFIER

(Error code(s): T89)

Order	M/O	Qualifier	R/N	CR	Options	Qualifier Description
1	M	COAL	N		H	Collateral Action Type Indicator
2	M	COLA	N	C20	F or H	Exposure Type Indicator

DEFINITION

This qualified generic field specifies:

COAL	Collateral Action Type Indicator	Specifies the type of operation performed within the collateral management life cycle.
COLA	Exposure Type Indicator	Specifies the underlying business area/type of trade causing the exposure.

CODES

In option H, if Qualifier is COAL, Indicator must contain one of the following codes (Error code(s): K22):

INIT	Initiation	First call for collateral.
VARI	Variation	Addition of collateral.

CODES

In option F or H, if Qualifier is COLA and Data Source Scheme is not present, Indicator must contain one of the following codes (Error code(s): K22):

BFWD	Bond Forward	Any securities traded out beyond 3 days which include treasury notes, JGBs and Gilts.
CBCO	Central Bank Credit Operations	Exposures related to activity with central banks.
CCIR	Cross Currency IRS	Cross Currency Interest Rate Swap, indicating the exchange of fixed interest payments in one currency for those in another.
CCPC	CCP Collateral	Collateral covering the initial margin requirements for OTC trades.
COMM	Commodities	Commodities trades for example futures and options on gold, silver, wheat.
CRDS	Credit Default Swap	Trading of credit default swap.
CRPR	Cross Product	Combination of various types of trades.
CRSP	Credit Support	Cash lending/borrowing; letter of Credit; signing of master agreement.
CRTL	Credit Line	Opening of a credit line before trading.
EQPT	Equity Option	Trading of equity option (Also known as stock options).
EQUS	Equity Swap	Equity swap trades where the return of an equity is exchanged for either a fixed or a floating rate of interest.
EXPT	Exotic Option	Trading of exotic option for example a non-standard option.
EXTD	Exchange Traded Derivatives	Trading of exchanged traded derivatives in general (Opposite to Over the Counter (OTC)).
FIXI	Fixed Income	Trading of fixed income instruments.
FORW	Forward Foreign Exchange	FX trades with a value date in the future.
FORX	Foreign Exchange	FX trades in general.
FUTR	Futures	Related to futures trading activity.
LIQU	Liquidity	In support of settlement via an RTGS or other clearing system.
OPTN	FX Option	Trading of option on Foreign Exchange.
OTCD	OTC Derivatives	Over-the-counter (OTC) Derivatives in general for example contracts which are traded and privately negotiated.
PAYM	Cash Settlement	In support of any type of cash settlement.
REPO	Repurchase Agreement	In support of a repurchase agreement transaction.
RVPO	Reverse Repurchase Agreement	In support of a reverse repurchase agreement transaction.
SBSB	Securities Buy Sell Back	Securities buy sell back.
SCIE	Single Currency IRS Exotic	Exotic single currency interest rate swap.
SCIR	Single Currency IRS	Single Currency Interest Rate Swap.
SCRP	Securities Cross Product	Combination of securities-related exposure types.
SHSL	Short Sale	Short sale exposure.
SLEB	Securities Lending and Borrowing	Securities lending and borrowing.
SLOA	Secured Loan	Secured loan.
SWPT	Swaption	Option on interest rate swap.
TBAS	To Be Announced	To Be Announced (TBA) related collateral.
TCRP	Treasury Cross Product	Combination of treasury-related exposure types.

USAGE RULES

For qualifier COAL:

Indicator INIT is normally not used for Repo trading as the initiation of a Repo is done using the relevant Securities Trade Confirmation messages, unless it is practice for the front office traders to agree on the Repo cash amount and the collateral requirements are to be sorted out by the back-office.