MT 540 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 codes (Error code(s): T86):

CANC	Cancellation	This is a request to cancel a previously sent instruction.
NEWM	New	New message.
NEWM	New	This is a new instruction.
PREA	Preadvice	This is a preadvice of an instruction. It can be used for matching purposes, but is, without further notice from the account owner, not binding for execution.

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/confirmation purposes. It is a duplicate of a message previously sent.
RECO	Reconciliation Only	The settlement instruction has already been sent on the market. This message is sent to an account servicer for reconciliation purposes.

USAGE RULES

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.