The trade may cover one single trade or one block trade.
This message is sent by a fund manager to the fund's custodian to advise the trade details and instruct the settlement of a fixed term loan/deposit done with a third party financial institution. The trade may cover one single trade or one block trade.
The definition of third party must be agreed up front between the fund manager and the custodian relative to deals executed by the custodians' treasury area on behalf of the fund manager.
This message is used to:
provide details about a new contract between the parties
provide details of a rollover/renovation of a contract between the parties
provide details of the maturity of a contract
cancel a previously sent message.
