MT 304 Field Specifications

40. Field 22N: Transaction Identifier

FORMAT

Option N

32x

PRESENCE

Mandatory in optional subsequence C1

DEFINITION

This field specifies - in combination with the namespace - the unique transaction identifier to be created at the time a transaction is first executed, shared with all registered entities and counterparties involved in the transaction, and used to track that particular transaction over its life.

USAGE RULES

Industry practices have to be followed for the creation of the Unique Transaction Identifier (UTI). The UTI is a combination of Namespace and Transaction Identifier.

The UTI is also called USI (Unique SWAP Identifier).