8a/4!a2!c4!n4!a2!c(Code) (Common Reference)| 8a/4!a2!c4!n4!a2!c |
(Code) (Common Reference) |
Mandatory
This field identifies the function of the message and contains a reference of the contract common to both the Sender and Receiver.
In confirmations sent by both financial institutions, Code must contain one of the following codes:
| NEW |
Confirmation of a new contract. |
| AMEND |
Confirmation of mutually agreed changes to the quantity of metal, and/or price per unit, and/or consideration and/or settlement instructions of a contract for which a confirmation has been previously sent. |
| CANCEL |
Confirmation of the mutually agreed cancellation of a contract. |
| EXOPTION |
Confirmation of the mutually agreed settlement of a precious metal option which has been exercised. |
| NOTICE |
Liquidation notice for a forward deal. A notice is optional; its use is dependent on internal practices. |
In confirmations sent by one financial institution, Code must contain one of the following codes:
| CORRECT |
Retransmission due to error - sent to correct error(s) in a previously sent MT 600. |
| COMPLETE |
Complementary Information - used to advise for the first time the name of the financial institution in fields 53a, 57a and/or 87a (eg, in those cases where the previous confirmation contained the code word UNKNOWN in field 57a). |
Common Reference must contain the bank and location codes of the Sender and Receiver, ie, their BIC without the country code (Error code(s): T95). These codes must appear in alphabetical order, with letters taking precedence over numbers (Error code(s): T96).
The codes are separated by four digits, which must consist of the rightmost non-zero digits of the price per unit (ie, Price Per Unit of field 33G) (Error code(s): T22), preceded by the three digits to the left of it. If there are no digits to the left of it, the space must be zero-filled.
