MT 544 Field Specifications

3. Field 23G: Function of the Message

FORMAT

Option G

4!c[/4!c]

(Function)(Subfunction)

PRESENCE

Mandatory in mandatory sequence A

DEFINITION

This field identifies the function of the message.

CODES

Function must contain one of the following codes (Error code(s): T86):

CANC	Cancellation Request	Message requesting the cancellation of a previously sent message.
NEWM	New	New message.
RVSL	Reversal	Message sent to reverse a previously sent confirmation.

CODES

Subfunction, when present, must contain one of the following codes (Error code(s): T85):

CODU	Copy Duplicate	Message is a copy to a party other than the account owner/account servicer, for information purposes and the message is a duplicate of a message previously sent.
COPY	Copy	Message is a copy to a party other than the account owner/account servicer, for information purposes. This message is being sent as a copy to a party other than the account owner/account servicer, for information purposes.
DUPL	Duplicate	Message is for information/confirmation purposes. It is a duplicate of a message previously sent.

USAGE RULES

To cancel a previously sent message, Function is CANC. The reference in the linkages sequence must contain the Sender's reference of the message to be cancelled. A copy of at least the mandatory fields of the message to be cancelled must be present; optional fields need not be present for SWIFT validation.

MARKET PRACTICE RULES

Function of the message usage clarifications have been published by the Securities Market Practice Group (SMPG).

For more details, see the relevant market practice document on www.smpg.info.