This message type is sent:
This message type is sent:
by a fund manager to a custodian bank as an order to purchase or sell a specific amount of a certain currency.
by a custodian bank to the local/sub custodian bank, when the fund account's custodian uses a sub custodian in the local market to execute the foreign exchange order received from a fund manager.
This message type is sent by a fund manager to a custodian bank as an order to purchase or sell a specific amount of a certain currency.
It may also be used to:
duplicate an order sent by other means, eg, fax or telex
provide a third party with a copy of the message being sent.
