Show/Hide TOC

MT 370 Examples

Example 1: Basic Example

Narrative

PEFICHZZ and BDAPGB22 have agreed to send each other the MT 370 to advise their respective positions of TH baht. They have both agreed that the netting cut-off time is 1400 and that the netted position is for settlement the following business day. The netting is to include FX trades and non deliverable forward (NDF) trades and both parties agree to provide the number of transactions taken into account in the netting position as well as the types of underlying transactions.

PEFICHZZ sends an MT 370 Netting Position Advice message to BDAPGB22 to advise the THB that BDAPGB22 must pay. PEFICHZZ wants the THB paid to its account, account 66666666, at JANITHBK.

Likewise, BDAPGB22 sends an MT 370 Netting Position Advice message to PEFICHZZ to advise the THB that BDAPGB22 will pay to PEFICHZZ. The THB will be paid into PEFICHZZ's account, account, account 66666666, at JANITHBK.

The resulting matching is positive and BDAPGB22 sends an MT 202 to its THB correspondent, WWYMTHBK, instructing the payment of the THB to JANITHBK in favour of the account of PEFICHZZ.

Information Flow

D0030071

Message 1: MT 370 Netting Position Advice from PEFICHZZ to BDAPGB22

Explanation Format
Sender PEFICHZZ
Message Type 370
Receiver BDAPGB22
Start of Block :16R:GENL
Sender's Message Reference :20C::SEME//9-345678
Function of the Message :23G:NEWM
Party A (Sender) :95P::PTYA//PEFICHZZ
Party B (Receiver) :95P::PTYB//BDAPGB22
End of Block :16S:GENL
Start of Block :16R:NETPOS
Netting Position Reference :20C::NETT//000000001
Netting Date Time :98C::NETT//20110822140000
Netting Amount :19A::NETT//THB5000,
Receive Pay Indicator (money is to be paid to Party A) :22H::RECP//RECE
Value Date (settlement date of the netted position) :98A::VALU//20110823
Number of Trades :99A::TRAD//425
Type of Underlying Trades (foreign exchange) :22F::TRAN//FOEX
Type of Underlying Trades (non deliverable forward) :22F::TRAN//NDLF
Start of Block (cash parties repetition 1) :16R:CSHPRTY
Account With Institution (also known as receiving agent) :95P::ACCW//JANITHBK
End of Block :16S:CSHPRTY
Start of Block (cash parties repetition 2) :16R:CSHPRTY
Beneficiary :95P::BENM//PEFICHZZ
Cash Account (beneficiary's account at account with institution) :97A::CASH//66666666
End of Block :16S:CSHPRTY
End of Block :16S:NETPOS

Message 2: MT 370 Netting Position Advice from BDAPGB22 to PEFICHZZ

Explanation Format
Sender BDAPGB22
Message Type 370
Receiver PEFICHZZ
Start of Block :16R:GENL
Sender's Message Reference :20C::SEME//9-345678
Function of the Message :23G:NEWM
Party A (Sender) :95P::PTYA//BDAPGB22
Party B (Receiver) :95P::PTYB//PEFICHZZ
End of Block :16S:GENL
Start of Block :16R:NETPOS
Netting Position Reference :20C::NETT//99998888
Netting Date Time :98C::NETT//20110822140000
Netting Amount :19A::NETT//THB5000,
Receive Pay Indicator (money is to be paid by Party A) :22H::RECP//PAYO
Value Date (settlement date of the netted position) :98A::VALU//20110823
Number of Trades :99A::TRAD//425
Type of Underlying Trades (foreign exchange) :22F::TRAN//FOEX
Type of Underlying Trades (non deliverable forward) :22F::TRAN//NDLF
Start of Block (cash parties repetition 1) :16R:CSHPRTY
Account With Institution (also known as receiving agent) :95P::ACCW//JANITHBK
End of Block :16S:CSHPRTY
Start of Block (cash parties repetition 2) :16R:CSHPRTY
Beneficiary :95P::BENM//PEFICHZZ
Cash Account (beneficiary's account at account with institution) :97A::CASH//66666666
End of Block :16S:CSHPRTY
End of Block :16S:NETPOS

Message 3: MT 202 General Financial Institution Transfer

Using the settlement information in the MT 370 Netting Position Advice message (or its SSI database), BDAPGB22 sends an MT 202 to its correspondent, WWYMTHBK to pay the THB amount:

Explanation Format
Sender BDAPGB22
Message Type 202
Receiver WWYMTHBK
Transaction Reference Number :20:123123
Related Reference - Netting Reference (netting position reference (field 20C NETT) as assigned by BDAPGB22) :21:99998888
Value Date, Currency Code, Amount :32A:110823THB5000,
Account With Institution :57A:JANITHBK
Beneficiary Institution and its account at field 57a :58A:/66666666
PEFICHZZ

Example 2: No Payment Example

Narrative

PEFIFRPP and BDAPDEFF have agreed to send each other the MT 370 to advise their respective positions of SG dollars. They have both agreed that the netting cut-off time is 1400 and that the netted position is for settlement the following business day. The netting is to include only FX trades and both parties agree to provide the number of transactions taken into account in the netting position as well as the types of underlying transactions.

As a result of their netting mechanisms, both PEFIFRPP and BDAPDEFF calculate that SGD 0,0 is the result.

PEFIFRPP sends an MT 370 Netting Position Advice message to BDAPDEFF to advise their netting position of SGD is zero.

Likewise, BDAPDEFF sends an MT 370 Netting Position Advice message to PEFIFRPP to advise their netting position of SGD is zero.

Information Flow

D0030074

Message 1: MT 370 Netting Position Advice from PEFIFRPP to BDAPDEFF

Explanation Format
Sender PEFIFRPP
Message Type 370
Receiver BDAPDEFF
Start of Block :16R:GENL
Sender's Message Reference :20C::SEME//A-666666
Function of the Message :23G:NEWM
Party A (Sender) :95P::PTYA//PEFIFRPP
Party B (Receiver) :95P::PTYB//BDAPDEFF
End of Block :16S:GENL
Start of Block :16R:NETPOS
Netting Position Reference :20C::NETT//000000011
Netting Date Time :98C::NETT//20110822140000
Netting Amount :19A::NETT//SGD0,
Receive Pay Indicator (no payment - netting position is zero) :22H::RECP//NOPA
Value Date (settlement date of the netted position - in this example, it is the settlement date for which the amount is zero) :98A::VALU//20110823
Number of Trades :99A::TRAD//97
Type of Underlying Trades (foreign exchange) :22F::TRAN//FOEX
End of Block :16S:NETPOS

Message 2: MT 370 Netting Position Advice from BDAPDEFF to PEFIFRPP

Explanation Format
Sender BDAPDEFF
Message Type 370
Receiver PEFIFRPP
Start of Block :16R:GENL
Sender's Message Reference :20C::SEME//B-999999
Function of the Message :23G:NEWM
Party A (Sender) :95P::PTYA//BDAPDEFF
Party B (Receiver) :95P::PTYB//PEFIFRPP
End of Block :16S:GENL
Start of Block :16R:NETPOS
Netting Position Reference :20C::NETT//000000022
Netting Date Time :98C::NETT//20110822140000
Netting Amount :19A::NETT//SGD0,
Receive Pay Indicator (no payment - netting position is zero) :22H::RECP//NOPA
Value Date (settlement date of the netted position - in this example, it is the settlement date for which the amount is zero) :98A::VALU//20110823
Number of Trades :99A::TRAD//97
Type of Underlying Trades (foreign exchange) :22F::TRAN//FOEX
End of Block :16S:NETPOS

Example 3: Amendment Example

Narrative

PEFINL2A and BDAPUS33 have agreed to send each other the MT 370 to advise their respective positions of IN rupee. They have both agreed that the netting cut-off time is 1500 and that the netted position is for settlement the following business day. The netting is to include only FX trades and both parties agree to provide the number of transactions taken into account in the netting position as well as the types of underlying transactions.

PEFINL2A sends an MT 370 Netting Position Advice message to BDAPUS33 to advise the INR that BDAPUS33 must pay. PEFINL2A wants the INR paid to its account, account 66666666, at JANIINBB.

Likewise, BDAPUS33 sends an MT 370 Netting Position Advice message to PEFINL2A to advise the INR that BDAPUS33 will pay to PEFINL2A. The INR will be paid into PEFINL2A's account, account, account 66666666, at JANIINBB.

The resulting matching is negative and PEFINL2A contacts BDAPUS33 and they investigate the reason for the mis-match. Having resolved the discrepancy, BDAPUS33 sends PEFINL2A an MT 370 amendment.

And following the resulting positive match, BDAPUS33 sends an MT 202 to its INR correspondent, WWYMINBB, instructing the payment of the INR to JANIINBB in favour of the account of PEFINL2A.

Information Flow

D0030073

Message 1: MT 370 Netting Position Advice from PEFINL2A to BDAPUS33

Explanation Format
Sender PEFINL2A
Message Type 370
Receiver BDAPUS33
Start of Block :16R:GENL
Sender's Message Reference :20C::SEME//6-345688
Function of the Message :23G:NEWM
Party A (Sender) :95P::PTYA//PEFINL2A
Party B (Receiver) :95P::PTYB//BDAPUS33
End of Block :16S:GENL
Start of Block :16R:NETPOS
Netting Position Reference :20C::NETT//600000008
Netting Date Time :98C::NETT//20110822150000
Netting Amount :19A::NETT//INR5000,
Receive Pay Indicator (money is to be paid to Party A) :22H::RECP//RECE
Value Date (settlement date of the netted position) :98A::VALU//20110823
Number of Trades :99A::TRAD//25
Type of Underlying Trades (foreign exchange) :22F::TRAN//FOEX
Start of Block (cash parties repetition 1) :16R:CSHPRTY
Account With Institution (also known as receiving agent). :95P::ACCW//JANIINBB
End of Block :16S:CSHPRTY
Start of Block (cash parties repetition 2) :16R:CSHPRTY
Beneficiary :95P::BENM//PEFINL2A
Cash Account (beneficiary's account at account with institution) :97A::CASH//66666666
End of Block :16S:CSHPRTY
End of Block :16S:NETPOS

Message 2: MT 370 Netting Position Advice from BDAPUS33 to PEFINL2A

Explanation Format
Sender BDAPUS33
Message Type 370
Receiver PEFINL2A
Start of Block :16R:GENL
Sender's Message Reference :20C::SEME//SYS-00002
Function of the Message :23G:NEWM
Party A (Sender) :95P::PTYA//BDAPUS33
Party B (Receiver) :95P::PTYB//PEFINL2A
End of Block :16S:GENL
Start of Block :16R:NETPOS
Netting Position Reference :20C::NETT//NP-000002
Netting Date Time :98C::NETT//20110822150000
Netting Amount :19A::NETT//INR4500,
Receive Pay Indicator (money is to be paid by Party A) :22H::RECP//PAYO
Value date (settlement date of the netted position) :98A::VALU//20110823
Number of Trades :99A::TRAD//20
Type of Underlying Trades (foreign exchange) :22F::TRAN//FOEX
Start of Block (cash parties repetition 1) :16R:CSHPRTY
Account With Institution (also known as receiving agent) :95P::ACCW//JANIINBB
End of Block :16S:CSHPRTY
Start of Block (cash parties repetition 2) :16R:CSHPRTY
Beneficiary :95P::BENM//PEFINL2A
Cash Account (beneficiary's account at account with institution) :97A::CASH//66666666
End of Block :16S:CSHPRTY
End of Block :16S:NETPOS

Message 3: MT 370 Netting Position Advice (Amendment) from BDAPUS33 to PEFINL2A

Explanation Format
Sender BDAPUS33
Message Type 370
Receiver PEFINL2A
Start of Block :16R:GENL
Sender's Message Reference :20C::SEME//SYS-00015
Function of the Message (amendment) :23G:AMND
Start of Block :16R:LINK
Previous Reference (reference of original MT 370 previously sent by BDAPUS33) :20C::PREV// SYS-00002
End of Block :16S:LINK
Party A (Sender) :95P::PTYA//BDAPUS33
Party B (Receiver) :95P::PTYB//PEFINL2A
End of Block :16S:GENL
Start of Block :16R:NETPOS
Netting Position Reference :20C::NETT//NP-000003
Netting Date Time :98C::NETT//20110822150000
Netting Amount :19A::NETT//INR500O,
Receive Pay Indicator (money is to be paid by Party A) :22H::RECP//PAYO
Value date (settlement date of the netted position) :98A::VALU//20110823
Number of Trades :99A::TRAD//25
Type of Underlying Trades (foreign exchange) :22F::TRAN//FOEX
Start of Block (cash parties repetition 1) :16R:CSHPRTY
Account With Institution (also known as receiving agent) :95P::ACCW//JANIINBB
End of Block :16S:CSHPRTY
Start of Block (cash parties repetition 2) :16R:CSHPRTY
Beneficiary :95P::BENM//PEFINL2A
Cash Account (beneficiary's account at account with institution) :97A::CASH//66666666
End of Block :16S:CSHPRTY
End of Block :16S:NETPOS

Message 4: MT 202 General Financial Institution Transfer

Using the settlement information in the MT 370 Netting Position Advice message (or its SSI database), BDAPUS33 sends an MT 202 to its correspondent, WWYMTHBK to pay the THB amount:

Explanation Format
Sender BDAPUS33
Message type 202
Receiver WWYMINBB
Transaction Reference Number :20:123123
Related Reference - Netting Reference (netting position reference (field 20C NETT) as assigned by BDAPUS33) :21:NP-000003
Value Date, Currency Code, Amount :32A:110823INR5000,
Account With Institution :57A:JANIINBB
Beneficiary Institution and its account at field 57a :58A:/66666666
PEFINL2A

Previous Page  Top Of Page  Next Page