MT 517 Field Specifications

3. Field 23G: Function of the Message

FORMAT

Option G

4!c[/4!c]

(Function) (Subfunction)

PRESENCE

Mandatory

DEFINITION

This field identifies the function of the message.

CODES

Function must contain the following code (Error code(s): T86):

CANC	Cancellation	This is a request to cancel a previously sent message.
NEWM	New	New message.
NEWM	New	This is a new message.

CODES

Subfunction, when present, must contain one of the following codes (Error code(s): T85):

CODU	Copy Duplicate	This message is being sent as a copy to a party other than the account owner/account servicer for information purposes and the message is a duplicate of a message previously sent.
COPY	Copy	This message is being sent as a copy to a party other than the account owner/account servicer for information purposes.
DUPL	Duplicate	The message is for information purposes. It is a duplicate of a message previously sent.

USAGE RULES

The function CANC must only be used by the Depository Trust Company (USA) to cancel same day affirmations. This is for audit purposes only and does not cancel the trade itself.

To cancel a previously sent message, Function is CANC. The reference in the linkages sequence must contain the Sender's reference of the message to be cancelled. A copy of at least the mandatory fields of the message to be cancelled must be present; optional fields need not be present for SWIFT validation.