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 the 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 precious metal option. |
| AMEND |
Confirmation of mutually agreed changes to the quantity of the metal, and/or strike price, and/or premium price and/or exercise date and/or settlement information of the contract for which a confirmation message has been previously sent. |
| CANCEL |
Confirmation of the mutually agreed cancellation of a contract. |
| CLOSEOUT |
Confirmation of the mutually agreed surrender of the option by the buyer (holder) to the seller (grantor) for compensation. |
In confirmations sent by one financial institution, Code must contain one of the following codes:
| CORRECT |
Retransmission due to error - to correct error(s) in a previously sent MT 601. |
| COMPLETE |
Complementary information - used to advise for the first time the name of the financial institution in field 53a and/or 57a (eg, in those cases where the previous confirmation contained the code 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 strike price specified in field 32B (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.
