This message is sent by an account servicer (account servicing institution) to an account owner or its designated agent. The account servicer may be a local agent (sub-custodian) acting on behalf of their global custodian customer, or a custodian acting on behalf of an investment management institution or a broker/dealer.
This message is used to report, at a specified moment in time, the quantity and identification of financial instruments which the account servicer maintains for the account owner.
The statement is used to reconcile the books of the account owner and the account servicer for the specified safekeeping account or sub-safekeeping account.
This message may also be used to respond to a request for statement/status advice, ie, the MT 549 Request for Statement/Status Advice and to report that there are no holdings.
The custody statement is used for position reconciliation purposes. It may also report availability and/or the location of the financial instruments to facilitate trading and minimise settlement issues. The holdings may be valuated or not.
The accounting statement provides valuations of a financial instrument portfolio with valuation details for each instrument; this information can either be audited or un-audited. It is typically not used for trading purposes.