MT 545 Field Specifications

14. Field 98a: Date/Time

FORMAT

Option A	:4!c//8!n	(Qualifier)(Date)
Option B	:4!c/[8c]/4!c	(Qualifier)(Data Source Scheme)(Date Code)
Option C	:4!c//8!n6!n	(Qualifier)(Date)(Time)
Option E	:4!c//8!n6!n[,3n][/[N]2!n[2!n]]	(Qualifier)(Date)(Time)(Decimals)(UTC Indicator)

PRESENCE

Mandatory in mandatory sequence B

QUALIFIER

(Error code(s): T89)

Order	M/O	Qualifier	R/N	CR	Options	Qualifier Description
1	O	SETT	N		A, B, or C	Settlement Date/Time
2	O	TRAD	N		A, B, C, or E	Trade Date/Time
3	M	ESET	N		A, B, or C	Effective Settlement Date/Time

DEFINITION

This qualified generic field specifies:

ESET	Effective Settlement Date/Time	Date/time at which a transaction effectively settled.
SETT	Settlement Date/Time	Date/time at which the financial instruments are to be delivered or received.
TRAD	Trade Date/Time	Date/time at which the trade was executed.

CODES

In option B, if Qualifier is SETT and Data Source Scheme is not present, Date Code must contain the following code (Error code(s): K98):

WISS

When Issued

Settlement is to be done when the security is issued.

CODES

In option B, if Qualifier is TRAD and Data Source Scheme is not present, Date Code must contain the following code (Error code(s): K98):

VARI

Various

Partial trades have occurred over a period of two or more days.

NETWORK VALIDATED RULES

Date must be a valid date expressed as YYYYMMDD (Error code(s): T50).

Time must be a valid time expressed as HHMMSS (Error code(s): T38).

UTC Indicator must be a valid time expressed as HH[MM] (Error code(s): T39).

Sign must not be used when UTC Indicator is equal to all zeroes (Error code(s): T14).

USAGE RULES

Trade Date/Time, when used with format 98C or 98E, must be the local time of the place of trade, for example, of the stock exchange, or of the selling broker for OTC.

MARKET PRACTICE RULES

In addition to the settlement date (ISO 15022 mandatory), trade date is one of the 10 common elements recommended by SMPG for equities and fixed income settlement instructions.