MT 361 Network Validated Rules

C1 

In sequence A, if field 14A contains code OTHER, field 77D must be present (Error code(s): D35).

C2 

In sequence A, if subfield 1 of field 77H contains code OTHER, field 77D must be present (Error code(s): D36).

C3 

In sequences B, C, E and F, if field 14A contains code OTHER, field 37N must be present in the respective sequence (Error code(s): D55).

C4 

In sequences B, C, E and F, if field 14D contains code OTHER, field 37N must be present in the respective sequence (Error code(s): D37).

C5 

In sequences C and F, if field 14F contains code OTHER, field 37N must be present in the respective sequence (Error code(s): D38).

C6 

In sequences C and F, if field 14J contains code OTHER, field 37N must be present in the respective sequence (Error code(s): D39).

C7 

In sequences C1 and F1, if subfield 1 of field 14G contains code 'O' field 37N must be present in the respective sequence (Error code(s): D40).

C8 

In sequences C and F, if subfield 2 of field 38E contains code 'O', field 37N must be present in the respective sequence (Error code(s): D41).

C9 

In sequence C and F, if subfield 2 of field 38G or field 38H contains code 'O', field 37N must be present in the respective sequence (Error code(s): D42).

C10 

The presence of the fixed and floating legs depends on the type of transaction. Thus, depending on the code value in field 23A of sequence A, only the following combinations of the optional sequences B, C, E, F and H are allowed (Error code(s): E43):

Sequence A if subfield 1 of field 23A is ...	Then sequence B is ...	And sequence C is ...	And sequence E is ...	And sequence F is ...	And sequence H is ...
CORRBUYER	Not allowed	Mandatory	Mandatory	Not allowed	Mandatory
CORRSELLER	Mandatory	Not allowed	Not allowed	Mandatory	Mandatory
FIXEDFIXED	Mandatory	Not allowed	Mandatory	Not allowed	Not allowed
FLOATFLOAT	Not allowed	Mandatory	Not allowed	Mandatory	Not allowed
FLOATFIXED	Mandatory	Not allowed	Not allowed	Mandatory	Not allowed
FIXEDFLOAT	Not allowed	Mandatory	Mandatory	Not allowed	Not allowed
VARBUYER	Not allowed	Mandatory	Mandatory	Not allowed	Mandatory
VARSELLER	Mandatory	Not allowed	Not allowed	Mandatory	Mandatory
VOLABUYER	Not allowed	Mandatory	Mandatory	Not allowed	Mandatory
VOLASELLER	Mandatory	Not allowed	Not allowed	Mandatory	Mandatory

C11 

In the fixed leg payable by party B, either the fixed amounts are used or the rate and Day Count fraction are used. In the latter case, the period end date adjustment indicator must also be present. Thus, when subsequence B1 is used, the presence of fields 32M, 17F and 14D in subsequence B1 depends on the presence of field 37M as follows (Error code(s): D45):

Sequence B if field 37M is ...	Subsequence B1 then field 32M is ...	Subsequence B1 and field 17F is ...	Subsequence B1 and field 14D is ...
Present	Not allowed	Mandatory	Mandatory
Not present	Mandatory	Not allowed	Not allowed

Note: For the presence of subsequence B1, refer to C18.

C12 

In the fixed leg payable by party A, either the fixed amounts are used or the rate and Day Count fraction are used. In the latter case, the period end date adjustment indicator must also be present. Thus, when subsequence E1 is used, the presence of fields 32M, 17F and 14D in subsequence E1 depends on the presence of field 37M as follows (Error code(s): D59):

Sequence E if field 37M is ...	Subsequence E1 then field 32M is ...	Subsequence E1 and field 17F is ...	Subsequence E1 and field 14D is ...
Present	Not allowed	Mandatory	Mandatory
Not present	Mandatory	Not allowed	Not allowed

Note: For the presence of subsequence E1, refer to C18.

C13 

If settlement instructions are used, the receiving agent must be used and the other settlement instructions are optional. Thus, for all occurrences of fields 53a, 56a and 57a in sequences M or N, the following rules apply (Error code(s): D48):

Sequence M or N, if field 57a is ...	Then, in the same sequence, fields 53a and 56a are ...
Present	Optional
Not present	Not allowed

C14 

The second intermediary field can only be used if two intermediaries are required. Thus, for all occurrences of fields 56a and 86a, the following rules apply (Error code(s): E35):

In any sequence, if field 56a is ...	Then, in the same sequence, field 86a is ...
Present	Optional
Not present	Not allowed

C15 

The related reference must be present in the case of an amendment or cancellation. Thus, in sequence A, the presence of field 21 depends on field 22A as follows (Error code(s): D02):

Sequence A if field 22A is ...	Sequence A then field 21 is ...
AMND	Mandatory
CANC	Mandatory
DUPL	Optional
NEWT	Optional

C16 

The broker identification must be present when the message is sent by a money broker. The brokerage can only be used in the case of a money broker confirmation. Thus, the presence of fields 88a and 71F in sequence O and therefore, the presence of sequence O itself, depends on field 94A of sequence A as follows: (Error code(s): D74):

Sequence A if field 94A is ...	Then sequence O is ...	Sequence O and field 88a is ...	Sequence O and field 71F is ...
Not present	Optional	Optional	Not allowed
AGNT	Optional	Optional	Not allowed
BILA	Optional	Optional	Not allowed
BROK	Mandatory	Mandatory	Optional

C17 

In the case of an AFB Master Agreement, the information contained in the 'Convention Table between ISDA and AFB terms' of this document and quoted as 'Not Defined' must not be used (Error code(s): E40).

Sequence A if subfield 1 of field 77H is ...	Subsequences C1, F1, C2, and F2 then fields 14G, 37R are ...
AFB	Not allowed
Not AFB	Conditional (C18)

C18 

If the floating rate option is a post determined (AFB or ISDA) rate then the fixed rate must be used in sequence B or E and subsequences B1, C1, C2, C3, E1, F1, F2 and F3 must not be used. Thus, the presence of field 37M in sequences B and E and the presence of subsequences B1, C1, C2, C3, E1, F1, F2 and F3 depends on the content of subfield 1 of field 77H and on the content of field 14F as follows (Error code(s): E41):

Sequence A	Sequences C and F	Sequences B, C, E, and F	Sequences B and E
if subfield 1 of field 77H is ...	and if field 14F is ...	Then subsequences B1, C1, C2, C3, E1, F1, F2, F3 are ...	and field 37M is ...
ISDA	FRF-TAM-CDC FRF-T4M-CDC FRF-T4M-CDCCOMP FRF-TAG-CDC FRF-TAG-CDCCOMP FRF-TMP-CDCAVERAG	Not allowed	Mandatory
AFB	FRF-SWAP-AMR FRF-SWAP-TMP-IF FRF-SWAP-TMP-M FRF-SWAP-T4M-AMR FRF-CAP-TAM FRF-CAP-T4M FRF-FLOOR-TAM FRF-FLOOR-T4M	Not allowed	Mandatory
Else   (1)
If sequence C is present		C1 is mandatory C2 and C3 are optional	Not applicable
Or if sequence F is present		F1 is mandatory F2 and F3 are optional	Not applicable
Or if sequences C and F are present		C1 and F1 are mandatory C2, C3, F2 and F3 are optional	Not applicable
Or if sequences C and E are present		C1 and E1 are mandatory C2 and C3 are optional	Optional in sequence E
Or if sequences B and E are present		B1 and E1 are mandatory	Optional
Or if sequences B and F are present		B1 and F1 are mandatory F2 and F3 are optional	Optional in sequence B

(1)   Based on other network validated rules, the only possible combinations of sequences B, C, E, and F that are allowed are B and E, B and F, only C, only F, C and E, C and F.

C19 

In all optional sequences and sub-sequences, the fields with status M must be present if the sequence or sub-sequence is present, and are otherwise not allowed (Error code(s): C32).

C20 

In sequence P, if field 15P is present, then at least one of the other fields of sequence P must be present (Error code(s): C98).

C21 

In sequence P, when field 17Z is "Y" then 22Q must be present (Error code(s): C56).

C22 

In sequence A, the presence of field 32B depends on field 23A as follows(Error code(s): C52).

Sequence A if field 23A is ...	Sequence A then field 32B is...
CORRBUYER	Not allowed
CORRSELLER	Not allowed
VOLABUYER	Not allowed
VOLASELLER	Not allowed
Any Other Value	Mandatory