MT 541 Field Specifications

56. Field 22F: Indicator

FORMAT

Option F

:4!c/[8c]/4!c

(Qualifier) (Data Source Scheme) (Indicator)

PRESENCE

Mandatory

QUALIFIER

(Error code(s): T89)

Order	M/O	Qualifier	R/N	CR	Options	Qualifier Description
1	O	STCO	R		F	Settlement Transaction Condition
2	M	SETR	N		F	Type of Settlement Transaction
3	O	TRCA	N		F	Party Capacity Indicator
4	O	STAM	N		F	Stamp Duty Indicator
5	O	RTGS	N		F	Securities Real-Time Gross Settlement Indicator
6	O	REGT	N		F	Registration Indicator
7	O	BENE	N		F	Beneficial Ownership Indicator
8	O	CASY	N		F	Cash Settlement System Indicator
9	O	DBNM	N		F	Settlement Standing Instruction Database Indicator
10	O	TCPI	N		F	Tax Capacity Party Indicator
11	O	MACL	N		F	Market Side Indicator
12	O	FXCX	N	C12 C13	F	Forex Order Cancellation Indicator
13	O	BLOC	N		F	Block Trade Indicator
14	O	REST	N		F	Restrictions
15	O	SETS	N		F	Settlement System/Method Indicator
16	O	NETT	N		F	Netting Eligibility Indicator
17	O	CCPT	N		F	CCP Eligibility Indicator
18	O	LEOG	N		F	Letter of Guarantee Indicator

DEFINITION

This qualified generic field specifies:

STCO	Settlement Transaction Condition	Conditions under which the order/trade is to be settled.
SETR	Type of Settlement Transaction	Type of settlement transaction contained in the settlement details of the message.
TRCA	Party Capacity Indicator	Party which has a specific role in the settlement of the transaction.
STAM	Stamp Duty Indicator	Indicates the stamp duty type or exemption reason applicable to the settlement transaction.
RTGS	Securities Real-Time Gross Settlement Indicator	Indicates whether the settlement transaction is to be settled through an RTGS or a non RTGS system.
REGT	Registration Indicator	Indicates whether registration is to be done on receipt or not.
BENE	Beneficial Ownership Indicator	Indicates whether there is change of beneficial ownership or not.
CASY	Cash Settlement System Indicator	Indicates whether what cash settlement system is instructed to be used.
DBNM	Settlement Standing Instruction Database Indicator	Indicates what settlement standing instruction database is to be used to derive the settlement parties involved in the transaction.Presence of this indicator means that any information contained in the settlement parties sequences of the message (with the exception of the buyer/seller and place of settlement information) will be disregarded.
TCPI	Tax Capacity Party Indicator	Indicates the tax role capacity of the instructing party. Only applicable in agent - CSD or participant - ICSD communication.
MACL	Market Side Indicator	Indicates whether an instruction is a market side or a client side transaction.
FXCX	Forex Order Cancellation Indicator	Specifies the action to be taken on the underlying FX.
FXCX	Forex Order Cancellation Indicator	In a cancellation request (field 23G:CANC), indicates whether a forex instructed in the message to be cancelled is also to be cancelled or not.In a new message (field :23G:NEWM), indicator :22F::FXCX//SINO indicates that a forex standing instruction should NOT apply as an original FX order has been retained
BLOC	Block Trade Indicator	Indicates whether the settlement instruction is a block parent or children.
REST	Restrictions	Specifies the regulatory restrictions applicable to a financial instrument.
REST	Restrictions	Restrictions governing the transfer of ownership of security.
SETS	Settlement System/Method Indicator	Indicates whether the settlement transaction is to be settled through an alternate settlement system/method or the default settlement system/method.
NETT	Netting Eligibility Indicator	Indicates whether the settlement transaction is eligible for netting or not.
CCPT	CCP Eligibility Indicator	Indicates whether the settlement transaction is CCP (Central Counterparty) eligible or not.
LEOG	Letter of Guarantee Indicator	Indicates whether physical settlement may be executed using a letter of guarantee or if the physical certificates should be used.

CODES

If Qualifier is STCO and Data Source Scheme is not present, Indicator must contain one of the following codes (Error code(s): K22):

BUTC	Buy to Cover	The transaction is a buy to cover.
CLEN	Clean Tax-exempt	Tax-exempt financial instruments securities are to be settled.
DIRT	Dirty	Taxable financial instruments are to be settled.
DIRT	Non tax-exempt	Non tax-exempt, ie taxable securities are to be settled.
DLWM	Delivery Without Matching	The delivery instruction does not require a matching receipt instruction on the concerned market (only for the concerned ICSD and CSD).
DRAW	Drawn	Settlement on drawn securities.
EXER	Exercised	Settlement transaction relates to options, futures or derivatives that are exercised.
EXER	Exercised	For derivatives, an option or future which is exercised.
FRCL	Free Clean Settlement	The delivery will be made free of payment but a clean payment order will be sent.
KNOC	Knocked out	For derivatives an option or future which is knocked out (expired worthless).
NPAR	No Partial Settlement Allowed	Partial settlement is not allowed.
PART	Partial Settlement	Partial settlement is allowed.
PHYS	Physical	The securities are to be physically settled.
SPCS	Split Currency Settlement	Settlement is in two different currencies.
SPDL	Special Delivery	Trade to be settled with special delivery.
SPST	Split Settlement	When cash and securities settle in different locations.
UNEX	Unexposed	Delivery cannot be effected until cash is received.

CODES

If Qualifier is SETR and Data Source Scheme is not present, Indicator must contain one of the following codes (Error code(s): K22):

BSBC	Buy Sell Back Closing Leg	The transaction relates to a buy sell back closing leg.
BSBO	Buy Sell Back Opening Leg	The transaction relates to a buy sell back opening leg.
CNCB	Central Bank Collateral Operation	The transaction relates to a collateral delivery/receipt to a National Central Bank for central bank credit operations.
COLL	Collateral	The transaction relates to collateral in the form of securities.
CONV	DR Conversion	The settlement transaction is part of a DR conversion operation.
FCTA	Factor Update	The transaction relates to a factor update.
INSP	Move of Stock	Settlement instruction relates to a movement of shares into or out of a pooled account.
ISSU	DR Issue	Settlement instruction relates to the issue of a depositary receipt.
INSP	In Speci/Share Exchange	The instruction relates to a move of stock into or out of a pooled account. The stock is generally used, instead of cash, to purchase or redeem unit holdings. It is generally charged differently than another account transfer (PORT, OWNE, OWNI), hence the need to identify this type of transfer as such.
ISSU	DR Issue	The settlement transaction is part of a DR issue operation.
OWNE	External Account Transfer	Account transfer involving more than one instructing party (messages sender) and/or account servicer (messages receiver).
OWNI	Internal Account Transfer	Account transfer involving one instructing party (messages sender) at one account servicer (messages receiver).
MKDW	Mark-down	Relates to the decrease of positions held by an ICSD at the common depository due to custody operations (repurchase, pre-release, proceed of corp. event realigned).
MKUP	Mark-up	Relates to the increase of positions held by an ICSD at the common depository due to custody operations (repurchase, pre-release, proceed of corporate event realigned).
NETT	Netting	The transaction relates to the netting of settlement instructions.
NSYN	Non Syndicated	Issue of medium and short term paper (CP, CD, MTN, notes...) under a program and without syndication arrangement.
PAIR	Pairoff	The transaction is part of a pairoff.
PLAC	Placement	The transaction is part of a placement.
PORT	Portfolio Move	The transaction relates to a portfolio move from one investment manager to another and/or from an account servicer to another. It is generally charged differently than another account transfer (OWNE, OWNI, INSP), hence the need to identify this type of transfer as such.
REAL	Realignement	Realignment of positions.
REDI	Withdrawal	The transaction involves the withdrawal of specified amounts from specified sub-accounts.
REDM	Redemption (Funds)	Redemption of Funds (Funds Industry ONLY).
RELE	DR Release / Cancellation	The settlement transaction is part of a DR release / cancellation operation.
REPU	Repo	The transaction relates to a repo or reverse repo.
RODE	Return of delivery without matching	Refers to the return of securities resulting from a decayed/rejected delivery without matching operation.
RPTO	Reporting	The transaction is for reporting purposes only.
SECB	Securities Borrowing	The transaction is part of a securities borrowing operation.
SECL	Securities Lending	The transaction is part of a securities lending operation.
SUBS	Subscription (Funds)	Subscription to funds (Funds Industry ONLY).
SYND	Syndicate of underwriters Syndicated	Financial instruments are issued Issue of securities (bonds, warrants, equities...) through a syndicate of underwriters and a Lead Manager.
TBAC	TBA Closing	The transaction relates to a TBA closing trade.
TRAD	Trade	The transaction relates to the settlement of a trade (default, most common settlement).
TRPO	Triparty Repo	Relates to a triparty repo.
TURN	Turnaround	The transaction is part of a turnaround: the same security is bought and sold to settle the same, to or from different brokers.

CODES

When Qualifier is TRCA and Data Source Scheme is not present, Indicator must contain one of the following codes (Error code(s): K22):

CUST	Settling as a Custodian.
SAGE	Settling as an Agent.
SPRI	Settling as a Principal.

CODES

When Qualifier is STAM, the Data Source Scheme should be used to indicate the stamp duty type or exemption reason, eg, in the United Kingdom and Ireland (CRST), in South Africa (STRA), etc.

CODES

When Qualifier is RTGS and Data Source Scheme is not present, Indicator must contain one of the following codes (Error code(s): K22):

NRTG	Settle through the non-RTGS system. If there is a standing instruction in place for settlement through the RTGS instruction, then this standing instruction is to be ignored.
YRTG	Settle through the RTGS system. If there is a standing instruction in place for settlement through the non-RTGS system, then this standing instruction is to be ignored.

CODES

When Qualifier is REGT and Data Source Scheme is not present, Indicator must contain one of the following codes (Error code(s): K22):

NREG	Hold the securities in street name. If there is a standing instruction in place to register on receipt, then this standing instruction is to be ignored.
YREG	Register on receipt. If there is a standing instruction in place to hold the securities in street name, then this standing instruction is to be ignored.

CODES

When Qualifier is BENE and Data Source Scheme is not present, Indicator must contain one of the following codes (Error code(s): K22):

NBEN	No Change of Beneficial Ownership (NCBO). If a standing instruction is in place for change of beneficial ownership (CBO), then this standing instruction is to be ignored.
YBEN	Change of Beneficial Ownership (CBO). If a standing instruction is in place for no change of beneficial ownership (NCBO), then this standing instruction is to be ignored.

CODES

When Qualifier is CASY and Data Source Scheme is not present, Indicator must contain one of the following codes (Error code(s): K22):

BOJS	Bank of Japan System (JP)
BOKW	Bank of Korea Wire
CHEC	Cheque
FEYC	Foreign Exchange Yen Clearing System (JP)
GBSC	UK Domestic
GROS	Gross settlement system
NETS	Net settlement system
USCH	CHIPS (US)
USFW	Fedwire (US)
ZENG	Zengin (domestic remittance) (JP)

CODES

When Qualifier is DBNM and Data Source Scheme is not present, Indicator must contain one of the following codes (Error code(s): K22):

INTE	The settlement standing instruction database to be used is the receiver's internal database.
BRKR	The settlement standing instruction database to be used is the broker's database.
VEND	The settlement standing instruction database to be used is the database of the vendor identified in the other parties sequence F, party field 95a, with qualifier VEND.

CODES

When Qualifier is TCPI and Data Source Scheme is not present, Indicator must contain one of the following codes (Error code(s): K22):

PRIN	Acting as a principal for tax liability.
AGEN	Acting as an agent for tax liability.

CODES

When Qualifier is MACL and Data Source Scheme is not present, Indicator must contain one of the following codes (Error code(s): K22):

MAKT	The Instruction is a market side transaction.
CLNT	The instruction is a client side transaction.

CODES

When Qualifier is FXCX and Data Source Scheme is not present, Indicator must contain one of the following codes (Error code(s): K22):

FXYE	The forex instructed in the original instruction is also to be cancelled.
FXNO	The forex instructed in the original instruction is not to be cancelled.
SINO	The FX standing instruction in place does not apply. This instruction is an amendment to a previously cancelled instruction for which the FX order has not been cancelled.

CODES

When Qualifier is BLOC and Data Source Scheme is not present, Indicator must contain one of the following codes (Error code(s): K22):

BLCH	The transaction is a block trade child.
BLPA	The transaction is a block trade parent.

CODES

If Qualifier is REST and Data Source Scheme is not present, Indicator must contain one of the following codes (Error code(s): K22):

144A	Persuant to 144A	Ownership or transfer of an unregistered security issued, pursuant Unregistered security issued persuant to US legal restrictions 144A.
NRST	Not Subject to Restrictions	Ownership or transfer is not subject to restrictions.
RSTR	Subject to Restrictions (not persuant to 144A)	Ownership or transfer is subject to restrictions (not persuant to 144A).

CODES

When Qualifier is SETS and Data Source Scheme is not present, Indicator must contain one of the following codes (Error code(s): K22):

NSET	Settle through the default settlement system/method. If there is a standing instruction in place for settlement through the alternate settlement system/method, then this standing instruction is to be ignored.
YSET	Settle through the alternate settlement system/method. If there is a standing instruction in place for settlement through the default settlement system/method, then this standing instruction is to be ignored.

CODES

When Qualifier is NETT and Data Source Scheme is not present, Indicator must contain one of the following codes (Error code(s): K22):

YNET	The settlement instruction is eligible for netting.
NNET	The settlement instruction is not eligible for netting.

CODES

When Qualifier is CCPT and Data Source Scheme is not present, Indicator must contain one of the following codes (Error code(s): K22):

YCCP	The settlement instruction is CCP eligible.
NCCP	The settlement instruction is not CCP eligible.

CODES

When Qualifier is LEOG and Data Source Scheme is not present, Indicator must contain one of the following codes (Error code(s): K22):

YLEG	Letter of guarantee is accepted. If there is a standing instruction in place not to accept a letter of guarantee, then this standing instruction is to be ignored.
NLEG	Letter of guarantee is not accepted. If there is a standing instruction in place to accept a letter of guarantee, then this standing instruction is to be ignored.

USAGE RULES

The conditions of the use of the codes for the qualifiers BENE, CASY, CCPT, BLOC, DBNM, FXCX, LEOG, NETT, REGT, RTGS, SETS and STCO must be pre-agreed between account owner and account servicer.

When the code YREG in the registration indicator is present, additional registration details must be specified in the registration details narrative in the Settlement Parties sequence.

The cash settlement system codes are to be used only by agents directly involved in the settlement process, such as local settlement agents, CSD's and central banks.

The use of settlement transaction type codes CONV, ISSU, REAL, RELE, NETT, NSYN, MKUP, MKDW, SYND is governed by the existence of a bilateral agreement.

When settlement condition BUTC is used, at least one linkage subsequence A1 must be present with the reference of the sell instruction (may be more than one) to be covered by the concerned buy.