MT 360 Network Validated Rules

C1 

In sequence A, if field 14A contains code OTHER, field 77D must be present (Error code(s): D35).

C2 

In sequence A, if subfield 1 of field 77H contains code OTHER, field 77D must be present (Error code(s): D36).

C3 

In sequences B, C, E and F, if field 14A contains code OTHER, field 37N must be present in the respective sequence (Error code(s): D55).

C4 

In sequences B, C, E and F, if field 14D contains code OTHER, field 37N must be present in the respective sequence (Error code(s): D37).

C5 

In sequences C and F, if field 14F contains code OTHER, field 37N must be present in the respective sequence (Error code(s): D38).

C6 

In sequences C and F, if field 14J contains code OTHER, field 37N must be present in the respective sequence (Error code(s): D39).

C7 

In sequences C and F, if subfield 1 of field 14G contains code 'O', field 37N must be present in the respective sequence (Error code(s): D40).

C8 

In sequences C and F, if subfield 2 of field 38E contains code 'O', field 37N must be present in the respective sequence (Error code(s): D41).

C9 

In sequences C and F, if subfield 2 of 38G or field 38H contains code 'O', field 37N must be present in the respective sequence (Error code(s): D42).

C10 

The presence of the fixed and floating legs and the additional amount to be paid, depends on the type of transaction, the additional amount in this case being the premium paid for a cap, floor or collar. Thus, depending on the code value in field 23A of sequence A, only the following combinations of the optional sequences B, C, E, F, L and M are allowed (Error code(s): D58):

Sequence A if subfield 1 of field 23A is ...	Then sequence B is ...	And sequence C is ...	And sequence E is ...	And sequence F is ...
FIXEDFIXED	Mandatory	Not allowed	Mandatory	Not allowed
FLOATFLOAT	Not allowed	Mandatory	Not allowed	Mandatory
FLOATFIXED	Mandatory	Not allowed	Not allowed	Mandatory
FIXEDFLOAT	Not allowed	Mandatory	Mandatory	Not allowed
CAPBUYER	Not allowed	Mandatory	Not allowed	Not allowed
CAPSELLER	Not allowed	Not allowed	Not allowed	Mandatory
FLOORBUYER	Not allowed	Mandatory	Not allowed	Not allowed
FLOORSLLER	Not allowed	Not allowed	Not allowed	Mandatory
COLLARBYER	Not allowed	Mandatory	Not allowed	Mandatory
COLLARSLLR	Not allowed	Mandatory	Not allowed	Mandatory

C11 

In the fixed leg payable by party B, either the fixed amounts are used or the rate and day count fraction are used. In the latter case, the period end date adjustment indicator must also be present. Thus, when subsequence B1 is used, the presence of fields 32M, 17F and 14D depends on the presence of field 37U as follows (Error code(s): D45):

Sequence B if field 37U is ...	Subsequence B1 then field 32M is ...	Subsequence B1 and field 17F is ...	Subsequence B1 and field 14D is ...
Present	Not allowed	Mandatory	Mandatory
Not present	Mandatory	Not allowed	Not allowed

C12 

In the fixed leg payable by party A, either the fixed amounts are used or the rate and day count fraction are used. In the latter case, the period end date adjustment indicator must also be present. Thus, when subsequence E1 is used, the presence of fields 32M, 17F and 14D depends on the presence of field 37U as follows (Error code(s): D59):

Sequence E if field 37U is ...	Subsequence E1 then field 32M is ...	Subsequence E1 and field 17F is ...	Subsequence E1 and field 14D is ...
Present	Not allowed	Mandatory	Mandatory
Not present	Mandatory	Not allowed	Not allowed

C13 

If settlement instructions are used, the receiving agent must be used and the other settlement instructions are optional. Thus, for all occurrences of fields 53a, 56a and 57a in sequences L or M, the following rules apply (Error code(s): D48):

Sequence L or M if field 57a is ...	Then, in the same sequence, fields 53a and 56a are ...
Present	Optional
Not present	Not allowed

C14 

The second intermediary field can only be used if two intermediaries are required. Thus, for all occurrences of fields 56a and 86a, the following rules apply (Error code(s): E35):

In any sequence, if field 56a is ...	Then, in the same sequence, field 86a is ...
Present	Optional
Not present	Not allowed

C15 

Only one currency is allowed in the message. Thus, the currency code in all amount fields must be the same (Error code(s): C02).

C16 

If the Floating Rate Option is a post determined (AFB or ISDA) rate then the fixed rate must be used in sequence B or E and the subsequences B1, C1, C2, C3, E1, F1, F2 and F3 must not be used. Thus, the presence of field 37U in sequences B and E and the presence of subsequences B1, C1, C2, C3, E1, F1, F2 and F3 depends on the content of the first subfield of field 77H and on the content of field 14F as follows (Error code(s): E41):

Sequence A	Sequences C and F	Sequences B, C, E, and F	Sequences B and E
if subfield 1 of field 77H is ...	and if field 14F is ...	Then subsequences B1, C1, C2, C3, E1, F1, F2, F3 are ...	and field 37U is ...
ISDA	FRF-TAM-CDC FRF-T4M-CDC FRF-T4M-CDCCOMP FRF-TAG-CDC FRF-TAG-CDCCOMP FRF-TMP-CDCAVERAG	Not allowed	Mandatory
AFB	FRF-SWAP-AMR FRF-SWAP-TMP-IF FRF-SWAP-TMP-M FRF-SWAP-T4M-AMR FRF-CAP-TAM FRF-CAP-T4M FRF-FLOOR-TAM FRF-FLOOR-T4M	Not allowed	Mandatory
Else  (1)
If sequence C is present		C1 is mandatory C2 and C3 are optional	Not applicable
Or if sequence F is present		F1 is mandatory F2 and F3 are optional	Not applicable
Or if sequences C and F are present		C1 and F1 are mandatory C2, C3, F2 and F3 are optional	Not applicable
Or if sequences C and E are present		C1 and E1 are mandatory C2 and C3 are optional	Optional in sequence E
Or if sequences B and E are present		B1 and E1 are mandatory	Optional
Or if sequences B and F are present		B1 and F1 are mandatory F2 and F3 are optional	Optional in sequence B

(1)  Based on other network validated rules, the only possible combinations of sequences B, C, E, and F that are allowed are B and E, B and F, only C, only F, C and E, C and F.

C17 

The related reference must be present in the case of an amendment or cancellation. Thus, in sequence A, the presence of field 21 depends on field 22A as follows (Error code(s): D02):

Sequence A if field 22A is ...	Sequence A then field 21 is ...
AMND	Mandatory
CANC	Mandatory
DUPL	Optional
NEWT	Optional

C18 

The broker identification must be present when the message is sent by a money broker. The brokerage can only be used in the case of a money broker confirmation. Thus, the presence of fields 88a and 71F in sequence N and therefore, the presence of sequence N itself, depends on field 94A in sequence A as follows (Error code(s): D74):

Sequence A if field 94A is ...	Then sequence N is ...	Sequence N and field 88a is ...	Sequence N and field 71F is ...
Not present	Optional	Optional	Not allowed
AGNT	Optional	Optional	Not allowed
BILA	Optional	Optional	Not allowed
BROK	Mandatory	Mandatory	Optional

C19 

Taking into account C10:

The cap and floor rates are mandatory in the case of a cap, floor or collar otherwise they are optional. Thus, in sequences C and F, the presence of fields 37J and 37L depends on subfield 1 of field 23A in sequence A as follows (Error code(s): E42):

Sequence A if subfield 1 of field 23A is ...	Sequence C then field 37J is ...	Sequence C and field 37L is ...	Sequence F and field 37J is ...	Sequence F and field 37L is ...
FIXEDFIXED	Not applicable	Not applicable	Not applicable	Not applicable
FLOATFLOAT	Optional	Optional	Optional	Optional
FLOATFIXED	Not applicable	Not applicable	Optional	Optional
FIXEDFLOAT	Optional	Optional	Not applicable	Not applicable
CAPBUYER	Mandatory	Not allowed	Not applicable	Not applicable
CAPSELLER	Not applicable	Not applicable	Mandatory	Not allowed
FLOORBUYER	Not allowed	Mandatory	Not applicable	Not applicable
FLOORSLLER	Not applicable	Not applicable	Not allowed	Mandatory
COLLARBYER	Optional	Mandatory	Mandatory	Optional
COLLARBYER	Mandatory	Optional	Optional	Mandatory
COLLARSLLR	Optional	Mandatory	Mandatory	Optional
COLLARSLLR	Mandatory	Optional	Optional	Mandatory

C20 

In all optional sequences and sub-sequences, the fields with status M must be present if the sequence or sub-sequence is present, and are otherwise not allowed (Error code(s): C32).

C21 

In sequence O, if field 15O is present, then at least one of the other fields of sequence O must be present (Error code(s): C98).

C22 

In sequence O, when field 17Z is "Y" then 22Q must be present (Error code(s): C56).