This message is sent by an account servicer (account servicing institution) to an account owner or its designated agent. The account servicer may be a local agent (sub-custodian) acting on behalf of their global custodian customer, or a custodian acting on behalf of an investment management institution or a broker/dealer.
This message is intended to provide a summary of all cash and securities activity:
for a given safekeeping account linked to one cash account (maintaining separate cash sub-accounts by currency), or
for a given safekeeping account linked to multiple cash accounts (maintaining separate cash sub-accounts by currency), or
for a given cash account (maintaining separate cash sub-accounts by currency) linked to multiple safekeeping accounts.
The transaction activity contained in the report includes all transactions which have been settled or booked to the safekeeping account(s) for a specified period. Booked transactions are those that have been contractually posted (including those that may not have yet settled in the local market) and have affected the portfolios cash position. This report must not include pending transactions in the receivable or payable ledgers nor may it include settled transactions that have a future settlement date; pending transactions are included in the MT 537 Statement of Pending Transactions.
The report lists all activities by currency. So called, 'free' asset movement, for example, dividends in the form of securities, must appear in the free asset movement sequence.
All currencies for which there was an activity must also be reported. When there are no activities to be reported, the activity flag, in sequence A must be used. In sequence B, a separate activity flag can be used per cash account (where multiple cash accounts are linked to one safekeeping account).
The frequency of the report must be bilaterally agreed between the account servicer and the account owner.
The message may be used to respond to a request for statement, that is, the MT 549 Request for Statement/Status Advice.
