This message is sent by an instructing party, eg, a fund manager, or its authorised representative, to an executing broker to instruct the allocation of either a block foreign exchange trade or a block currency option.
The MT 303 contains both the terms of the block trade and the individual allocations.
The executing party will reply by sending separate MT 300 Foreign Exchange Confirmations confirming each individual allocation.
The message may be sent to
cancel and amend the block trade and the complete set of allocations
amend a number of individual allocations.