MT 584 Field Specifications

86. Field 22a: Indicator

FORMAT

Option F	:4!c/[8c]/4!c	(Qualifier) (Data Source Scheme) (Indicator)
Option H	:4!c//4!c	(Qualifier) (Indicator)

PRESENCE

Mandatory in an optional sequence

QUALIFIER

(Error code(s): T89)

Order	M/O	Qualifier	R/N	CR	Options	Qualifier Description
1	M	BUSE	N		H	Buy/Sell Indicator
2	M	REDE	N		H	Receive/Deliver Indicator
3	M	PAYM	N		H	Free/Against Payment Indicator
4	O	PRIC	N		F	Type of Price
5	O	PROC	N		F	Processing Indicator
6	O	RPOR	R		F	Reporting Indicator
7	O	PRIR	N		F	Priority Indicator
8	O	SETG	N		F	Settlement Instruction Generation Indicator
9	O	TTCO	R		F	Trade Transaction Condition Indicator
10	O	COST	N		F	Commission Type
11	O	SETR	N		F	Type of Settlement Transaction
12	O	STCO	R		F	Settlement Transaction Condition
13	O	TRCA	N		F	Party Capacity Indicator
14	O	STAM	N		F	Stamp Duty Indicator
15	O	RTGS	N		F	Securities Real-Time Gross Settlement Indicator
16	O	REGT	N		F	Registration Indicator
17	O	BENE	N		F	Beneficial Ownership Indicator
18	O	CASY	N		F	Cash Settlement System Indicator
19	O	TCPI	N		F	Tax Capacity Party Indicator
20	O	REST	N		F	Restrictions
21	O	LEOG	N		F	Letter of Guarantee Indicator
22	O	SETS	N		F	Settlement System/Method Indicator

DEFINITION

This qualified generic field specifies:

BUSE	Whether the message relates to the sale or purchase of financial instruments, as shown in the original order to buy or sell.
REDE	Whether this is an instruction to receive or deliver securities.
PAYM	Whether the instruction relates to securities to be delivered free or against payment.
PRIC	Type of price associated with the deal price.
PROC	Additional information relative to the processing of the trade.
RPOR	If the trade is to be reported to other parties.
PRIR	Execution priority of the trade.
SETG	Generation of a settlement instruction by an ETC service provider.
TTCO	Conditions under which the order/trade was executed.
COST	Commission type under which the order/trade was executed.
SETR	Type of settlement transaction.
STCO	Conditions under which the trade/order is to be settled.
TRCA	Party which has a specific role in the settlement of the transaction.
STAM	Indicates the stamp duty type or exemption reason applicable to the settlement transaction.
RTGS	Indicates whether the settlement transaction is to be settled through an RTGS or a non RTGS system.
REGT	Indicates whether registration is to be done on receipt or not.
BENE	Indicates whether there is change of beneficial ownership or not.
CASY	Indicates what cash settlement system is instructed to be used.
TCPI	Indicates the tax role capacity of the instructing party. Only applicable in agent - CSD or participant - ICSD communication.
REST	Specifies the regulatory restrictions applicable to a financial instrument.
REST	Restrictions governing the transfer of ownership of the security.
LEOG	Indicates whether physical settlement may be executed using a letter of guarantee or if the physical certificates should be used.
SETS	Indicates whether the settlement transaction is to be settled through an alternate settlement system/method or the default settlement system/method.

CODES

If Qualifier is BUSE, Indicator must contain one of the following codes (Error code(s): K22):

BUYI	Buy.
SELL	Sell.

CODES

If Qualifier is REDE, Indicator must contain one of the following codes (Error code(s): K22):

DELI	This is an instruction to deliver securities.
RECE	This is an instruction to receive securities.

CODES

If Qualifier is PAYM, Indicator must contain one of the following codes (Error code(s): K22):

APMT	Securities are to be delivered against payment.
FREE	Securities are to be delivered free.

CODES

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

AVER	The price is an average execution price relating to partial fills.
AVOV	In partial fills, the deal price is an override of the average price.
COMB	Combined Expenses. It is used in the UK market.
NDIS	Net to client disclosed. It is used in the UK market.
NET1	The price is a net price ie, net of all charges, fees, taxes.
NET2	The price is a net price net only of local broker's commission, local fees, local taxes, etc.
NOGR	Notional Gross. It is used in the UK market.
NUND	Net to client undisclosed. It is used in the UK market.
PARV	The price is a par value or equal to the nominal or face value of the instrument.
RDAV	The price is a rounded average price.

CODES

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

CLOP	The trade is to close a position.
OPEP	The trade is to open a position.

CODES

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

EXCH	The trade details are to be reported to a stock exchange.
TRRE	The trade details are to be reported to a regulatory organisation.

CODES

If Data Source Scheme is not present and Qualifier is PRIR, Indicator must contain a numerical value in the range 0001 - 9999 where 0001 refers to the highest priority.(Error code(s): K22)

CODES

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

GENS	This field specifies if the ETC service provider is to generate an MT528 or 529.
NOGE	This field specifies if the ETC service provider is not to generate an MT528 nor 529 where a previous agreement to do so exists.

CODES

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

BLKO	Block order. Trade is a block trade, allocation instructions will follow.
BLKO	Block order.
BTEX	Trade to be/was done at best execution. price.
BTMI	Bought minus indicator.
CBNS	Trade executed cum bonus.
CCPN	Trade executed cum coupon.
CDIV	Trade executed cum dividend.
CRST	Cross trade allowed. Cross trades are allowed whereby buy and sell orders are offset without recording the trade on the exchange.
CRST	Cross trade allowed.
CRTS	Trade executed cum rights.
CWAR	Trade executed cum warrants.
DIOR	Directed order. Order must be executed with a specific trading party.
DIOR	Directed order. This is an order that the Receiver of the message is to execute the trade with a specific broker, or other financial institution.
DORD	Direct order. Order This is an order to be executed by a trading party broker other than the trading executing party to which the order is sent. In this case, the instructing party has traded with another broker which will subsequently send an advice MT513 Advice of execution Execution to the executing party. to which this message is sent and which is acting as the clearing broker.
FRAC	Fractional parts allowed.
GTDL	Guaranteed Delivery: Delivery of the financial instrument on settlement date guaranteed.
GTDL	Trade to be settled with guaranteed delivery.
NCRS	No cross trade allowed.
SETI	Sold exempt indicator the sale is exempt from short-sale rules.
SPCU	Trade Executed Special Cum Dividend: Trade executed with a special cum dividend, i.e., buying after the ex date and getting the dividend.
SPEX	Trade Executed Special Ex Dividend: Trade Executed with a special ex dividend, i.e., selling before the ex date without the coupon.
SPCU	Special cum dividend buying after the ex date and getting a dividend.
SPEX	Special ex dividend selling before the ex date without the coupon.
SPSI	Sold plus indicator.
SSTI	Sold short indicator.
XBNS	Trade executed ex bonus.
XCPN	Trade executed ex coupon.
XDIV	Trade executed ex dividend.
XRTS	Trade executed ex rights.
XWAR	Trade executed ex warrants.

CODES

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

CLDI	Commission is as per client agreement. type is client directed commission.
FLAT	Commission is a flat fee.
FLAT	Commission basis is a flat fee for the transaction.
PERN	Commission type is a percentage of the principal.
PERU	Commission basis is per unit of financial instrument.
PWCD	Commission type is a percentage commission waived as cash discount.
PWEU	Commission type is a percentage commission waived as additional units.
SOFT	Commission type is a percentage (soft dollar) commission.
STEP	Commission type is for step-out trade.

CODES

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

BSBC	The transaction relates to a buy sell back closing leg.
BSBO	The transaction relates to a buy sell back opening leg.
COLL	The transaction relates to collateral in the form of securities.
CONV	The settlement transaction is part of a DR conversion operation.
FCTA	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	Settlement instruction relates to the issue of a depositary receipt.
INSP	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	The settlement transaction is part of a DR issue operation.
OWNE	The transaction is an external own account transfer.
OWNI	The transaction is an own account transfer.
MKDW	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	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	The transaction relates to the netting of settlement instructions.
NSYN	Issue of medium and short term paper (CP, CD, MTN, notes...) under a program and without syndication arrangement.
PAIR	The transaction is part of a pairoff.
PLAC	The transaction is part of a placement.
PORT	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	Realignment of positions.
REDI	The transaction involves the withdrawal of specified amounts from specified sub-accounts.
REDM	Redemption of Funds (Funds Industry ONLY).
RELE	The settlement transaction is part of a DR release / cancellation operation.
REPU	The transaction relates to a repo or reverse repo.
RODE	Refers to the return of securities resulting from a decayed/rejected delivery without matching operation.
RPTO	The transaction is for reporting purposes only.
SECB	The transaction is part of a securities borrowing operation.
SECL	The transaction is part of a securities lending operation.
SUBS	Subscription to funds (Funds Industry ONLY).
SYND	Syndicate Issue of underwriters. Financial instruments are issued securities (bonds, warrants, equities...) through a syndicate of underwriters and a Lead Manager.
TBAC	The transaction relates to a TBA closing trade.
TRAD	The transaction relates to the settlement of a trade.
TRPO	Relates to a triparty repo.
TURN	The transaction is part of a turnaround.

CODES

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

CLEN	Clean. Tax-exempt financial instruments securities are to be settled.
DIRT	Dirty. Taxable financial instruments are to be settled.
DIRT	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	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 (this indicates that delivery will be made free of payment but that a clean payment order will be sent).
KNOC	Knocked out - For derivatives, an option or future which is knocked out (expired worthless).
NPAR	Partial settlement is not allowed.
PART	Partial settlement is allowed.
PHYS	Securities are to be physically settled.
SPCS	Split currency settlement. Settlement is in two different currencies.
SPDL	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

When Qualifier is STAM, the Data Source Scheme should be used to indicate the stamp duty type or 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 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 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)
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 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

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

144A	Pursuant to Rule 144A. Ownership or transfer of an unregistered security issued, pursuant to US legal restrictions 144A.
144A	Unregistered security issued pursuant to US legal restrictions 144A.
NRST	Ownership or transfer is not subject to restrictions.
RSTR	Ownership or transfer is subject to restrictions (not pursuant to 144A).

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.

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.

USAGE RULES

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.