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.
It is used to provide, as at a specified time, details of pending settlement allegements, for all or selected securities in a specified safekeeping account.
This message may also be used to respond to a request for statement/status advice (ie, the MT 549) and to report that there are pending settlement allegements.