MT 547 Field Specifications

14. Field 98a: Date/Time

FORMAT

Option A	:4!c//8!n	(Qualifier) (Date)
Option B	:4!c/[8c]/4!c	(Qualifier) (Data Source Scheme) (Date Code)
Option C	:4!c//8!n6!n	(Qualifier) (Date) (Time)

PRESENCE

Mandatory

QUALIFIER

(Error code(s): T89)

Order	M/O	Qualifier	R/N	CR	Options	Qualifier Description
1	O	SETT	N		A, B, C	Settlement Date/Time
2	O	TRAD	N		A, B, C	Trade Date/Time
3	M	ESET	N		A, B, C	Effective Settlement Date/Time

DEFINITION

This qualified generic field specifies:

ESET	Effective Settlement Date/Time	Date/time on which settlement effectively took place.
SETT	Settlement Date/Time	Date/time at which the financial instruments are to be delivered or received. securities were to be exchanged.
TRAD	Trade Date/Time	Date/time at on which the trade deal was executed. agreed.

CODES

In option B, if Qualifier is SETT and Data Source Scheme is not present, Date Code must contain one of the following codes (Error code(s): K98):

SEOP	Seller's option	Settlement is to be completed at the seller's option.
WDIS	Distributed	Settlement is to be done when the security is distributed.
WIDI	Issued or Distributed	Settlement is to be done when the security is issued or distributed.
WISS	Issued	Settlement is to be done when the security is issued.

CODES

In option B, if Qualifier is TRAD and Data Source Scheme is not present, Date Code must contain the following code (Error code(s): K98):

VARI	Partial Trades.

NETWORK VALIDATED RULES

Date must be a valid date expressed as YYYYMMDD (Error code(s): T50).

Time must be a valid time expressed as HHMMSS (Error code(s): T38).