MT 504 Network Validated Rules

C1 

If the message is a cancellation, ie, Function of the Message (field 23G) is CANC, then subsequence A2 (Linkages) must be present at least once in the message, and in one and only in one occurrence of A2, field :20C::PREV must be present; consequently, in all other occurrences of A2, field :20C::PREV is not allowed (Error code(s): E08). (Error code(s): E08).

Sequence A if field :23G: is...	then subsequence A2 is...	and field :20C::PREV is....
CANC	Mandatory (minimum one occurrence of A2 must be present)	Mandatory in one occurrence of subseq. A2, and not allowed in all other occurrences of subseq. A2
NEWM	Optional	N.A.

C1 

In sequence A, if the value of field :23G:<Function> subfield 1 is CANC, then minimum one occurrence of subsequence A2 Linkages must be present, and field-qualifier :20C::PREV must be present in minimum one occurrence of subsequence A2 Linkages (Error code(s): E08).

Sequence A
if value of field :23G:4!c[/4!c] subfield 1 is...	then subsequence A2 is...	and in minimum one occurrence of subsequence A2 field :20C::PREV//16x is...
CANC	Mandatory, ie, minimum one occurrence of A2	Mandatory (note: it does not have to be present in all occurrences of A2)
NEWM	Optional	Optional

C2 

In sequence A, if field :20C::SCTR is not present, then field :20C::RCTR is mandatory, otherwise field :20C::RCTR is optional (Error code(s): E68).

Sequence A if field :20C::SCTR is...	Sequence A then field :20C::RCTR is ...
Not Present	Mandatory
Present	Optional

C3 

In sequence B, if field :19B::TEXA is not present, then field :19B::TCRL is mandatory, otherwise field :19B::TCRL is optional (Error code(s): C04).

Sequence B if field :19B::TEXA is...	Sequence B then field :19B::TCRL is...
Not Present	Mandatory
Present	Optional

C4 

In each occurrence of sequence C, the presence of subsequences C1, C2 and C3 depends on the value of field :22H::COLL//<Indicator> as follows (Error code(s): E83):

In each occurrence of sequence C if field :22H::COLL//4!c is...	In the same occurrence of sequence C then subsequence C1 is...	In the same occurrence of sequence C and subsequence C2 is...	In the same occurrence of sequence C and subsequence C3 is...
BCOL	Not allowed	Not allowed	Mandatory
CCOL	Not allowed	Mandatory	Not allowed
SCOL	Mandatory	Not allowed	Not allowed

C5 

In each occurrence of subsequence C2, the presence of field :98A::TERM :98A::MATU depends on the value of field :22H::DEPO//<Indicator> as follows (Error code(s): E85):

In each occurrence of subsequence C2 if field :22H::DEPO//4!c is...	In the same occurrence of subsequence C2 then field :98A::TERM :98A::MATU is...
FIXT	Mandatory
CLNT	Not allowed

C6 

In each occurrence of subsequence C3, if field :22H::BCOL//LCOL is present, then field :98B::EXPI//OPEN (ie, Qualifier = EXPI, Data Source Scheme not present and Date Code = OPEN) is not allowed, otherwise field :98B::EXPI//OPEN is optional (Error code(s): E72).

In each occurrence of subsequence C3 if field :22H::BCOL//LCOL is...	In the same occurrence of subsequence C3 then field :98B::EXPI//OPEN is...
Present	Not allowed
Not present	Optional

C7 

Sequence D is mandatory when in any occurrence of sequence C the subsequence C1 is present and the subsequence C1a is not present (Error code(s): C97).

In sequence(s) C	then sequence D is ...
If in one (or more) occurrence(s) of sequence C: subsequence C1 is present and an internal subsequence C1a is not present	Mandatory

C8 

Sequence D is not allowed when for all occurrences of sequence C either the subsequence C1 is not present, or C1a is present in all occurrences of C1 (Error code(s): D49).

If sequence D is ...	then in sequence(s) C
Present	In one (or more) occurrence(s) of sequence C: subsequence C1 must be present and an internal subsequence C1a must not be present

C9 

Sequence E is mandatory when in any occurrence of sequence C the subsequence C2 is present and the subsequence C2a is not present (Error code(s): C99).

In sequence(s) C	then sequence E is ...
If in one (or more) occurrence(s) of sequence C:subsequence C2 is present and an internal subsequence C2a is not present	Mandatory

C10 

Sequence E is not allowed when for all occurrences of sequence C either the subsequence C2 is not present, or C2a is present in all occurrences of C2 (Error code(s): D50).

If sequence E is...	then in sequence(s) C
Present	In one (or more) occurrence(s) of sequence C:subsequence C2 must be present and an internal subsequence C2a must not be present

C11 

In each occurrence of sequence C, for subsequences C1a1 and C2a1, the following party fields cannot appear more than once (Error code(s): E84).

Subsequence C1a1	Subsequence C2a1
:95a::BUYR	:95a::ACCW
:95a::DEAG	:95a::BENM
:95a::DECU	:95a::PAYE
:95a::DEI1
:95a::DEI2
:95a::PSET
:95a::REAG
:95a::RECU
:95a::REI1
:95a::REI2
:95a::SELL
:95a::BUYR	:95a::ACCW
:95a::DEAG	:95a::BENM
:95a::DECU	:95a::PAYE
:95a::DEI1
:95a::DEI2
:95a::DEI3
:95a::DEI4
:95a::DEI5
:95a::DEI6
:95a::DEI7
:95a::DEI8
:95a::DEI9
:95a::PSET
:95a::REAG
:95a::RECU
:95a::REI1
:95a::REI2
:95a::REI3
:95a::REI4
:95a::REI5
:95a::REI6
:95a::REI7
:95a::REI8
:95a::REI9
:95a::SELL

In sequences D and E, for subsequences D1 and E1, the following party fields cannot appear more than once (Error code(s): E84):

Subsequence D1	Subsequence E1
:95a::BUYR	:95a::ACCW
:95a::DEAG	:95a::BENM
:95a::DECU	:95a::PAYE
:95a::DEI1
:95a::DEI2
:95a::PSET
:95a::REAG
:95a::RECU
:95a::REI1
:95a::REI2
:95a::SELL
:95a::BUYR	:95a::ACCW
:95a::DEAG	:95a::BENM
:95a::DECU	:95a::PAYE
:95a::DEI1
:95a::DEI2
:95a::DEI3
:95a::DEI4
:95a::DEI5
:95a::DEI6
:95a::DEI7
:95a::DEI8
:95a::DEI9
:95a::PSET
:95a::REAG
:95a::RECU
:95a::REI1
:95a::REI2
:95a::REI3
:95a::REI4
:95a::REI5
:95a::REI6
:95a::REI7
:95a::REI8
:95a::REI9
:95a::SELL

C12 

It is mandatory to specify a Delivering Agent for the Securities Settlement Parties (subsequences C1a1 and D1):

In each occurrence of sequence C, if subsequence C1a1 Securities Settlement Parties is present, then field :95a::DEAG must be present in one and only one occurrence of subsequence C1a1 (Error code(s): E91) within the same occurrence of sequence C.

In sequence D (if present), if subsequence D1 Securities Settlement Parties is present, then field :95a::DEAG must be present in one and only one occurrence of subsequence D1 (Error code(s): E91)

Note: See also Network Validated Rule C11 (Error code(s): E84).

C13 

In each occurrence of sequence C, if a qualifier from the list Deliverers is present in one occurrence of subsequence C1a1 in a field :95a::4!c, then all the remaining qualifiers following this qualifier in the list Deliverers (see below) must be present in other subsequences C1a1 of the same occurrence of sequence C (Error code(s): E86).

In other words, in each occurrence of sequence C, the following scenarios must be validated:

• If :95a::DEI2 is present in subsequence C1a1, then :95a::DEI1 must be present in another subsequence C1a1.

• If :95a::DEI1 is present in subsequence C1a1, then :95a::DECU must be present in another subsequence C1a1.

• If :95a::DECU is present in subsequence C1a1, then :95a::SELL must be present in another subsequence C1a1.

In each occurrence of sequence C, if a qualifier from the list Receivers is present in one occurrence of subsequence C1a1 in a field :95a::4!c, then all the remaining qualifiers following this qualifier in the list Receivers (see below) must be present in other subsequences C1a1 of the same occurrence of sequence C (Error code(s): E86).

In other words, in each occurrence of sequence C, the following scenarios must be validated:

• If :95a::REI2 is present in subsequence C1a1, then :95a::REI1 must be present in another subsequence C1a1.

• If :95a::REI1 is present in subsequence C1a1, then :95a::RECU must be present in another subsequence C1a1.

• If :95a::RECU is present in subsequence C1a1, then :95a::BUYR must be present in another subsequence C1a1.

Deliverers		Receivers
DEI2	Deliverer's Intermediary 2	REI2	Receiver's Intermediary 2
DEI1	Deliverer's Intermediary 1	REI1	Receiver's Intermediary 1
DECU	Deliverer's Custodian	RECU	Receiver's Custodian
SELL	Seller (Deliverer)	BUYR	Buyer (Receiver)

In sequence D, if a qualifier from the list Deliverers is present in one occurrence of subsequence D1 in a field :95a::4!c, then all the remaining qualifiers following this qualifier in the list Deliverers (see below) must be present in other subsequences D1 (Error code(s): E86).

• If :95a::DEI2 is present in subsequence D1, then :95a::DEI1 must be present in another subsequence D1.

• If :95a::DEI1 is present in subsequence D1, then :95a::DECU must be present in another subsequence D1.

• If :95a::DECU is present in subsequence D1, then :95a::SELL must be present in another subsequence D1.

In sequence D, if a qualifier from the list Receivers is present in one occurrence of subsequence D1 in a field :95a::4!c, then all the remaining qualifiers following this qualifier in the list Receivers (see below) must be present in other subsequences D1 (Error code(s): E86).

In other words, in sequence D, the following scenarios must be validated:

• If :95a::REI2 is present in subsequence D1, then :95a::REI1 must be present in another subsequence D1.

• If :95a::REI1 is present in subsequence D1, then :95a::RECU must be present in another subsequence D1.

• If :95a::RECU is present in subsequence D1, then :95a::BUYR must be present in another subsequence D1.

Deliverers		Receivers
DEI2	Deliverer's Intermediary 2	REI2	Receiver's Intermediary 2
DEI1	Deliverer's Intermediary 1	REI1	Receiver's Intermediary 1
DECU	Deliverer's Custodian	RECU	Receiver's Custodian
SELL	Seller (Deliverer)	BUYR	Buyer (Receiver)

C13 

In each occurrence of sequence C, if a qualifier from the list Deliverers is present in one occurrence of subsequence C1a1 in a field :95a::4!c, then all the remaining qualifiers following this qualifier in the list Deliverers (see below) must be present in other subsequences C1a1 of the same occurrence of sequence C (Error code(s): E86).

In other words, in each occurrence of sequence C, the following scenarios must be validated:

• If :95a::DEI9 is present in subsequence C1a1, then :95a::DEI8 must be present in another subsequence C1a1.

• If :95a::DEI8 is present in subsequence C1a1, then :95a::DEI7 must be present in another subsequence C1a1.

• If :95a::DEI7 is present in subsequence C1a1, then :95a::DEI6 must be present in another subsequence C1a1.

• If :95a::DEI6 is present in subsequence C1a1, then :95a::DEI5 must be present in another subsequence C1a1.

• If :95a::DEI5 is present in subsequence C1a1, then :95a::DEI4 must be present in another subsequence C1a1.

• If :95a::DEI4 is present in subsequence C1a1, then :95a::DEI3 must be present in another subsequence C1a1.

• If :95a::DEI3 is present in subsequence C1a1, then :95a::DEI2 must be present in another subsequence C1a1.

• If :95a::DEI2 is present in subsequence C1a1, then :95a::DEI1 must be present in another subsequence C1a1.

• If :95a::DEI1 is present in subsequence C1a1, then :95a::DECU must be present in another subsequence C1a1.

• If :95a::DECU is present in subsequence C1a1, then :95a::SELL must be present in another subsequence C1a1.

In each occurrence of sequence C, if a qualifier from the list Receivers is present in one occurrence of subsequence C1a1 in a field :95a::4!c, then all the remaining qualifiers following this qualifier in the list Receivers (see below) must be present in other subsequences C1a1 of the same occurrence of sequence C (Error code(s): E86).

In other words, in each occurrence of sequence C, the following scenarios must be validated:

• If :95a::REI9 is present in subsequence C1a1, then :95a::REI8 must be present in another subsequence C1a1.

• If :95a::REI8 is present in subsequence C1a1, then :95a::REI7 must be present in another subsequence C1a1.

• If :95a::REI7 is present in subsequence C1a1, then :95a::REI6 must be present in another subsequence C1a1.

• If :95a::REI6 is present in subsequence C1a1, then :95a::REI5 must be present in another subsequence C1a1.

• If :95a::REI5 is present in subsequence C1a1, then :95a::REI4 must be present in another subsequence C1a1.

• If :95a::REI4 is present in subsequence C1a1, then :95a::REI3 must be present in another subsequence C1a1.

• If :95a::REI3 is present in subsequence C1a1, then :95a::REI2 must be present in another subsequence C1a1.

• If :95a::REI2 is present in subsequence C1a1, then :95a::REI1 must be present in another subsequence C1a1.

• If :95a::REI1 is present in subsequence C1a1, then :95a::RECU must be present in another subsequence C1a1.

• If :95a::RECU is present in subsequence C1a1, then :95a::BUYR must be present in another subsequence C1a1.

Deliverers		Receivers
DEI9	Deliverer's Intermediary 9	REI9	Receiver's Intermediary 9
DEI8	Deliverer's Intermediary 8	REI8	Receiver's Intermediary 8
DEI7	Deliverer's Intermediary 7	REI7	Receiver's Intermediary 7
DEI6	Deliverer's Intermediary 6	REI6	Receiver's Intermediary 6
DEI5	Deliverer's Intermediary 5	REI5	Receiver's Intermediary 5
DEI4	Deliverer's Intermediary 4	REI4	Receiver's Intermediary 4
DEI3	Deliverer's Intermediary 3	REI3	Receiver's Intermediary 3
DEI2	Deliverer's Intermediary 2	REI2	Receiver's Intermediary 2
DEI1	Deliverer's Intermediary 1	REI1	Receiver's Intermediary 1
DECU	Deliverer's Custodian	RECU	Receiver's Custodian
SELL	Seller (Deliverer)	BUYR	Buyer (Receiver)

In sequence D, if a qualifier from the list Deliverers is present in one occurrence of subsequence D1 in a field :95a::4!c, then all the remaining qualifiers following this qualifier in the list Deliverers (see below) must be present in other subsequences D1 (Error code(s): E86).

• If :95a::DEI9 is present in subsequence D1, then :95a::DEI8 must be present in another subsequence D1.

• If :95a::DEI8 is present in subsequence D1, then :95a::DEI7 must be present in another subsequence D1.

• If :95a::DEI7 is present in subsequence D1, then :95a::DEI6 must be present in another subsequence D1.

• If :95a::DEI6 is present in subsequence D1, then :95a::DEI5 must be present in another subsequence D1.

• If :95a::DEI5 is present in subsequence D1, then :95a::DEI4 must be present in another subsequence D1.

• If :95a::DEI4 is present in subsequence D1, then :95a::DEI3 must be present in another subsequence D1.

• If :95a::DEI3 is present in subsequence D1, then :95a::DEI2 must be present in another subsequence D1.

• If :95a::DEI2 is present in subsequence D1, then :95a::DEI1 must be present in another subsequence D1.

• If :95a::DEI1 is present in subsequence D1, then :95a::DECU must be present in another subsequence D1.

• If :95a::DECU is present in subsequence D1, then :95a::SELL must be present in another subsequence D1.

In sequence D, if a qualifier from the list Receivers is present in one occurrence of subsequence D1 in a field :95a::4!c, then all the remaining qualifiers following this qualifier in the list Receivers (see below) must be present in other subsequences D1 (Error code(s): E86).

In other words, in sequence D, the following scenarios must be validated:

• If :95a::REI9 is present in subsequence D1, then :95a::REI8 must be present in another subsequence D1.

• If :95a::REI8 is present in subsequence D1, then :95a::REI7 must be present in another subsequence D1.

• If :95a::REI7 is present in subsequence D1, then :95a::REI6 must be present in another subsequence D1.

• If :95a::REI6 is present in subsequence D1, then :95a::REI5 must be present in another subsequence D1.

• If :95a::REI5 is present in subsequence D1, then :95a::REI4 must be present in another subsequence D1.

• If :95a::REI4 is present in subsequence D1, then :95a::REI3 must be present in another subsequence D1.

• If :95a::REI3 is present in subsequence D1, then :95a::REI2 must be present in another subsequence D1.

• If :95a::REI2 is present in subsequence D1, then :95a::REI1 must be present in another subsequence D1.

• If :95a::REI1 is present in subsequence D1, then :95a::RECU must be present in another subsequence D1.

• If :95a::RECU is present in subsequence D1, then :95a::BUYR must be present in another subsequence D1.

Deliverers		Receivers
DEI9	Deliverer's Intermediary 9	REI9	Receiver's Intermediary 9
DEI8	Deliverer's Intermediary 8	REI8	Receiver's Intermediary 8
DEI7	Deliverer's Intermediary 7	REI7	Receiver's Intermediary 7
DEI6	Deliverer's Intermediary 6	REI6	Receiver's Intermediary 6
DEI5	Deliverer's Intermediary 5	REI5	Receiver's Intermediary 5
DEI4	Deliverer's Intermediary 4	REI4	Receiver's Intermediary 4
DEI3	Deliverer's Intermediary 3	REI3	Receiver's Intermediary 3
DEI2	Deliverer's Intermediary 2	REI2	Receiver's Intermediary 2
DEI1	Deliverer's Intermediary 1	REI1	Receiver's Intermediary 1
DECU	Deliverer's Custodian	RECU	Receiver's Custodian
SELL	Seller (Deliverer)	BUYR	Buyer (Receiver)

C14 

In each occurrence of subsequence C1a, the presence of subsequence C1a1 depends on the presence of field :22F::STCO//NSSP as follows (Error code(s): E48):

In each occurrence of subsequence C1a if field :22F::STCO//NSSP is...(*)	In the same occurrence of subsequence C1a then subsequence C1a1 is...
Not present	Optional
Present	Mandatory

(*) if the Data Source Scheme is present in field :22F::STCO//NSSP then the conditional rule does not apply.

C15 

In each occurrence of subsequence C2a, the presence of subsequence C2a1 depends on the presence of field :22F::STCO//NSSP as follows (Error code(s): E49):

In each occurrence of subsequence C2a if field :22F::STCO//NSSP is...(*)	In the same occurrence of subsequence C2a then subsequence C2a1 is...
Not present	Optional
Present	Mandatory

(*) if the Data Source Scheme is present in field :22F::STCO//NSSP then the conditional rule does not apply.

C16 

In sequence D, the presence of the subsequence D1 depends on presence of field :22F::STCO//NSSP as follows (Error code(s): E50):

Sequence D if field :22F::STCO//NSSP is ...(*)	then subsequence D1 is...
Not present	Optional
Present	Mandatory

(*) if the Data Source Scheme is present in field :22F::STCO//NSSP then the conditional rule does not apply.

C17 

In sequence E, the presence of the subsequence E1 depends on presence of field :22F::STCO//NSSP as follows (Error code(s): E51):

Sequence E if field :22F::STCO//NSSP is... (*)	then subsequence E1 is...
Not present	Optional
Present	Mandatory

(*) if the Data Source Scheme is present in field :22F::STCO//NSSP then the conditional rule does not apply.

C18 

In each occurrence of subsequence A1, if field :22F::AGRE is not present, then field :70C::AGRE is mandatory, otherwise field :70C::AGRE is optional (Error code(s): E71).

In each occurrence of subsequence A1 if field :22F::AGRE is	In the same occurrence of subsequence A1 then field :70C::AGRE is ...
Not present	Mandatory
Present	Optional

C19 

In subsequence B1, fields 16R and 16S may not be the only fields present. If both fields 16R and 16S are present, then at least one of the other fields of the same subsequence must be present (Error code(s): D13).

C20 

The user header of the message (block 3) is mandatory and must contain a valid code in the Validation Flag field 119 ( {3:{119:xxxx}} ). This code must be identical to the code contained in field :22a::COLA//xxxx (Exposure Type Indicator) in sequence A of the message content (text block 4) (Error code(s): C94).