MT 545 Field Specifications

63. Field 95a: Party

FORMAT

Option C	:4!c//2!a	(Qualifier)(Country Code)
Option P	:4!c//4!a2!a2!c[3!c]	(Qualifier)(Identifier Code)
Option Q	:4!c//4*35x	(Qualifier)(Name and Address)
Option R	:4!c/8c/34x	(Qualifier)(Data Source Scheme)(Proprietary Code)
Option S	:4!c/[8c]/4!c/2!a/30x	(Qualifier)(Data Source Scheme)(Type of ID)(Country Code)(Alternate ID)

PRESENCE

Mandatory in mandatory subsequence E1

QUALIFIER

(Error code(s): T89)

Order	M/O	Qualifier	R/N	CR	Options	Qualifier Description
1	M	BUYR	N	C4, C6	P, Q, or R	Buyer
	or	DEAG	N	C4, C5	P, Q, or R	Delivering Agent
	or	DECU	N	C4, C6	P, Q, or R	Deliverer's Custodian
	or	DEI1	N	C4, C6	P, Q, or R	Deliverer's Intermediary 1
	or	DEI2	N	C4, C6	P, Q, or R	Deliverer's Intermediary 2
	or	PSET	N	C4, C5	C, P, or Q	Place of Settlement
	or	REAG	N	C4	P, Q, or R	Receiving Agent
	or	RECU	N	C4, C6	P, Q, or R	Receiver's Custodian
	or	REI1	N	C4, C6	P, Q, or R	Receiver's Intermediary 1
	or	REI2	N	C4, C6	P, Q, or R	Receiver's Intermediary 2
	or	SELL	N	C4, C6	P, Q, or R	Seller
2	O	ALTE	N		S	Alternate ID

DEFINITION

This qualified generic field specifies:

ALTE	Alternate ID	Alternate identification for a party.
BUYR	Buyer	Party that receives the financial instrument.
DEAG	Delivering Agent	Delivering party that interacts with the place of settlement.
DECU	Deliverer's Custodian	Party that interacts with the delivering agent unless intermediaries exist.
DEI1	Deliverer's Intermediary 1	Party that interacts with the delivering intermediary 2 if present. If the delivering intermediary 2 is not present, this is the party that interacts with the delivering agent.
DEI2	Deliverer's Intermediary 2	When present, party that interacts with the delivering agent. Party that interacts with the deliverer's intermediary 1.
PSET	Place of Settlement	Place of settlement.
REAG	Receiving Agent	Receiving party that interacts with the place of settlement.
RECU	Receiver's Custodian	Party that interacts with the receiving agent unless intermediaries exist.
REI1	Receiver's Intermediary 1	Party that interacts with the receiving intermediary 2 if present. If the receiving intermediary 2 is not present, this is the party that interacts with the receiving agent.
REI2	Receiver's Intermediary 2	When present, party that interacts with the receiving agent. Party that interacts with the receiver's intermediary 1.
SELL	Seller	Party that delivers the financial instrument.

In option C, Country Code specifies in physical settlement transactions the country of settlement. This allows the custodian to direct instructions to a local agent in the country of settlement.

In option P, Identifier Code specifies a BIC. For more details, see the Standards MT General Information.

In option R, Proprietary Code specifies a local national code or market segment code identifying the party.

In option S:

• Type of ID specifies the type of alternate identification which can be used to give an alternate identification of the party identified in the sequence.

• Country Code specifies the country for which the alternate identification is relevant.

• Alternate ID specifies an alternate identification of the party identified in the same sequence.

CODES

In option S, if Data Source Scheme is not present, Type of ID must contain one of the following codes (Error code(s): K95):

ARNU	Alien Registration Number	Number assigned by a government agency to identify foreign nationals.
CCPT	Passport Number	Number assigned by a passport authority.
CHTY	Tax Exempt Identification Number	Number assigned to a tax exempt entity.
CORP	Corporate Identification	Number assigned to a corporate entity.
DRLC	Driver's Licence Number	Number assigned to a driver's licence.
FIIN	Foreign Investment Identity Number	Number assigned to a foreign investor (other than the alien number).
TXID	Tax Identification Number	Number assigned by a tax authority to an entity.

NETWORK VALIDATED RULES

Country Code must be a valid ISO country code (Error code(s): T73).

Identifier Code must be a registered BIC (Error code(s): T27,T28,T29,T45).

Proprietary code (Format Option R), Alternate ID (Format Option S) and Name and Address (Format Option Q) must not start or end with a slash '/' and must not contain two consecutive slashes '//'. For field formats with more than 1 line, the rule applies for each line (Error code(s): T26).

USAGE RULES

Qualifiers used to identify the parties do not specify the business role of the parties but their position in the settlement chain and the relationship which the parties have with one another.

Further explanations and examples are available in the Category 5 Securities Markets Message Usage Guidelines.

MARKET PRACTICE RULES

• 10 common elements:

  SMPG recommends that at least three settlement parties be instructed in equity or fixed income receive free or against payment settlement instructions; the place of settlement, the delivering agent and the client of the delivering agent.

  The data format for the identification of the delivering agent depends on the market. If no country-specific requirement is available, BIC is recommended.

  If the seller is not the direct client of the delivering agent, then an intermediary must also be provided - DECU.

• Place of settlement:

  The place of settlement is to be understood as the requested place of settlement of the counterparty. The indicated place of settlement in the message is always relating to the counterparty.

  The field must be populated with the BIC of a national or international CSD. When no CSD exists in a particular market, the stock exchange BIC will be used.

  Country code should be used for settlement taking place outside of an institution published in the PSET's BIC list. This includes physical deliveries and investment funds not settling at a CSD.

  The format and content of the settlement party sequences will comply with the market practices published for the place of settlement included in the message.

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