MT 305 Field Specifications

3. Field 22: Code/Common Reference

FORMAT

8a/4!a2!c4!n4!a2!c

(Function) (Common Reference)

PRESENCE

Mandatory

DEFINITION

This field specifies the function of the message followed by a reference which is common to both the Sender and the Receiver. Where

subfield 1	8a	(Function)
subfield 2	/4!a2!c4!n4!a2!c	(Common Reference)

where Common Reference consists of (Bank Code 1) (Location Code 1) (Reference Code) (Bank Code 2) (Location Code 2)

CODES

Function must contain one of the following codes (Error code(s): T47):

AMEND	Confirmation of mutually agreed changes to a deal which has been previously confirmed. Correction of error(s) in a previously sent message. Complementary information, eg, in those cases where the previous confirmation contained the code UNKNOWN in field 57a.
CANCEL	Confirmation of a mutually agreed cancellation of a contract. Cancellation of an erroneously sent message.
CLOSEOUT	Confirmation of the mutually agreed surrender of the option by the buyer (holder) to the seller (grantor) for compensation.
NEW	Confirmation of a new contract.

NETWORK VALIDATED RULES

This field consists of the bank and location codes (Error code(s): T95) (from the ISO Bank Identifier Code) of both the Sender and the Receiver. These codes must appear in alphabetical order (letters take precedence over numbers) (Error code(s): T96).

Location Code 1 and Bank Code 2 are separated by four digits, which must consist of the rightmost non-zero digit of field 36, preceded by the three digits to the left of it. If there are no digits to the left of it, the space must be zero filled (Error code(s): T22).