This message is sent by an instructing party or its authorised representative to an executing party or by an executing party to the instructing party or its authorised representative. It may also be sent by an instructing party to its custodian to inform of an update in the trade status of a previously sent settlement instruction.
This message is used to:
advise the status of a trade
advise the status of a replacement request
advise the status of a cancellation request.
It may also be used to:
provide a third party with a copy of the status message being sent
This message may be sent directly or through an ETC service provider between the parties to the deal, or by an ETC service provider.