MT 304 Field Specifications

5. Field 94A: Scope of Operation

FORMAT

Option A

4!c

(Scope)

PRESENCE

Mandatory in mandatory sequence A

DEFINITION

This field identifies the scope of the message, that is, the type of foreign exchange contract.

CODES

Scope must contain one of the following codes (Error code(s): T36):

AFWD	Forward Currency Contract (FCC) or Hedge	Indicates that the foreign exchange is a forward/hedge executed for a future date at a set price. The contract is opened and closed for the same value date resulting in a gain or loss. The result can be settled by netting the local base or both currencies, or by settling the gross/principal amounts.
ANDF	Non-Deliverable Forward	Indicates that the foreign exchange is a non-deliverable forward (NDF). The trade will be cash-settled in the agreed settlement currency.
ASET	Settlement Contract	Indicates that the foreign exchange is a physical settlement in which both the buy and sell currencies will move on the settlement (value) day.