Standards - Category 6 - MT 609 Examples

Narrative

On 1 April 1991, Crédit Suisse, Zürich, prepares and sends an MT 609 Statement of Commodity Contracts listing as of 31 March 1991, all undelivered spots and unexercised gold options agreed upon with Banca Populare Dell'Etruria, Arezzo.

The statement of outstanding commodity contracts includes two undelivered spots and an unexercised call option:

An undelivered spot purchased by the Sender from the Receiver for 1000 gross ounces agreed on 18 March 1991, with a maturity date of 20 March 1991, contract number GXX3001 for USD 400.5 per gross ounce and a consideration of USD 400,500.
An undelivered spot purchased by the Sender from the Receiver as agreed 22 March 1991 with a settlement date of 26 March 1991, under contract number GXX3400, for 5000 gross ounces at USD 401 and a consideration of USD 2,005,000.
An unexercised call option for 5000 gross ounces, that the Sender has sold to the Receiver as agreed 5 February 1991, European style, for a strike price of USD 415.6, a premium price of USD 5.4 and a premium payment of USD 27,000.

SWIFT Message

Explanation	Format
Sender	`CRESCHZZ`
Message Type	`609`
Receiver	`ARBAIT33`
Message Text
Sequence of Total	`:27:1/1`
Transaction Reference Number	`:20:TT8979978`
Statement Date (1)	`:31C:910401`
Further Identification (2)	`:23:SPOTS`
Identification of the Commodity (3)	`:26C:/ZURICH/UNALLGOLD`
Transaction Details (4)	`:68B:910318910320GXX3001/BGOZ1000, USD400,5/910320USD400500,`
Transaction Details	`:68B:910322910326GXX3400/BGOZ5000, USD401,/910326USD2005000,`
Further Identification (5)	`:23:OPTIONS`
Identification of the Commodity	`:26C:/ZURICH/UNALLGOLD`
Transaction Details	`:68C:SELL/CALL/E910205GOZ5000, USD415,6USD5,4USD27000,`
End of Message Text/Trailer

(1) The date on which the commodity contracts listed remain outstanding.

(2) The code indicating that the contracts immediately following are undelivered spot contracts.

(3) The location where the commodity is available, the identification of the commodity as unallocated gold.

(4) The date of the trade, the maturity date of the contract, the contract number, the code indicating that the commodity was bought or sold by the Sender, the type of unit of the commodity, the quantity of the commodity specified in the contract, the currency code and price per unit, the value date of the consideration, the currency code and amount of the consideration of the commodity contract.

(5) The code indicating that the commodity type and related contract immediately following is an unexercised commodity option contract.

MT 609 Examples

Example 1: Statement of Commodity Contracts