swiftstandards - category 6 - treasury markets...

SWIFTStandards

Category 6Treasury Markets Precious Metals

November 2003 Standards Release

Standards Release Guide 2003 - Final edition - February 2003

1

Legal Notices

IMPORTANT NOTE: You may install and use this publication only if you have entered into the relevant licence agreementwith SWIFT. Please refer to such licence agreement to determine what you may or may not do with it. Note however that inthe case of a ’Single User Licence’, this publication must be installed on a standalone machine for access by one person atany one time, and references to "organisation" in these notices are to the ordering customer (BIC 8). In the case of a ’ServerLicence’, this publication can also be installed on a server for access within the organisation of the ordering customer (BIC8), and references to "organisation" are then to all those SWIFT Users belonging to the same group as the ordering customer(BIC8) for traffic aggregation purposes.

Copyright

Copyright © S.W.I.F.T. SCRL ("SWIFT"), avenue Adèle 1, B-1310 La Hulpe, Belgium, 2002. All rights reserved. No partof this publication may be copied or reproduced, stored in a retrieval system, sold or transferred to any person, in whole orin part, in any manner or form or on any media, without the prior written permission of SWIFT. The recipient is, however, authorised to copy or reproduce this publication within its own organisation as may be reasonably necessary for the purposefor which it is supplied. Any such copy or reproduction will include the following: acknowledgement of the source, refer-ence and date of publication, and all notices set out on this page.

Confidentiality

This publication may contain proprietary and/or confidential information of SWIFT and/or its suppliers. The recipientshould not disclose this publication outside its organisation without the prior written permission of SWIFT.

Disclaimer

Although SWIFT has used reasonable efforts to ensure accuracy of its contents, SWIFT assumes no liability for any inad-vertent error or omission that may appear in this publication. The information in this publication is the latest available at thedate of its production, and may change from time to time.

Trademarks and Patents

SWIFT, S.W.I.F.T., the SWIFT logo, Sibos, Accord and SWIFT-derived product and service names - such as but notlimited to SWIFTNet and SWIFTAlliance - are trademarks of S.W.I.F.T. SCRL. SWIFT is the trading name of S.W.I.F.T.SCRL. All other product or company names that may be mentioned in this publication are trademarks or registered trade-marks of their respective owners. Patent pending: SWIFTNet - TrustAct - e-paymentsPlus.

February 2003 edition


SWIFTStandards - Category 6Legal Notices

Overview

Added Message TypesRemoved Message TypesModified Message Types

Added Message TypesNone

Removed Message TypesNone

Modified Message TypesMT600

MT601

MT604

MT605

MT606

MT607

3Standards Release Guide 2003 - Final edition - February 2003

OverviewSWIFTStandards - Category 6

MT 600 Precious Metal Trade Confirmation

MT 600 ScopeThis message type is exchanged between the financial institutions which have agreed to a precious metal trade.

It is used to confirm the details of:

a new contract between the partiesan amendment to a previously agreed contractthe cancellation of a contractthe settlement of a metal option which has been exercised.

This message may also be exchanged to confirm the liquidation of a forward deal.

In some cases, only one of the financial institutions involved in a contract will send a confirmation to the second financial institution. These cases include:

retransmission due to errors in a previously sent confirmationadditional information about a previously confirmed contract, (eg, to provide the name of the party in field 57a and/or87a, in those cases where the previous confirmation contained the code UNKNOWN).

MT 600 Format SpecificationsThe format contains three sequences:

Sequence A provides the details of the precious metal contract.Sequence B provides the settlement information in those cases where the Sender has bought the metal.Sequence C provides the settlement information in those cases where the Sender has sold the metal.

MT 600 Precious Metal Trade Confirmation

Status Tag Field Name Content/Options No.

Mandatory Sequence A Details of the Contract

M 20 Transaction Reference Number 16x 1

M 21 Related Reference 16x 2

M 22 Code/Common Reference 8a/4!a2!c4!n4!a2!c 3

M 30 Date Contract Agreed/Amended 6!n 4

M 26C Identification of the Metal [3!a]/15x/5!a4!a[4x][//8x] 5

M 33G Price per Unit 3!a15d[5!c] 6

O 71C Details of Adjustments 6*35x 7

O 72 Sender to Receiver Information 6*35x 8

Optional Sequence B Precious Metal Bought


SWIFTStandards - Category 6MT 600


M 32F Quantity of the Metal 3!a15d 9

M 87a Receiver of the Metal A, B or D 10

M 34P Consideration 6!n3!a15d 11

O 53a Sender’s Correspondent A, B or D 12

M 57a Account With Institution A, B or D 13

Optional Sequence C Precious Metal Sold


M 87a Deliverer of the Metal A, B or D 15

M 34R Consideration 6!n3!a15d 16


M = Mandatory O = Optional

MT 600 Network Validated RulesC1

Either sequence B or sequence C, but not both, must be present (Error code(s): C93).

C2

In the optional sequences, all fields with status M must be present (Error code(s): C32).

C3

The currency in the amount fields 33G and 34P or 34R must be the same for all occurrences of these fields in themessage (Error code(s): C02).

MT 600 Usage RulesChanges to the quantity of metal, and/or price per unit, and/or consideration and/or settlement instructions requireanother confirmation.This message handles only the contract part of a precious metal trade.

The actual transfer/delivery of metal is handled through the MT 604 Precious Metal Transfer/Delivery Order and the confirmation of debits or credits is handled through the MT 606 Precious Metal Debit Advice/MT 607 Precious MetalCredit Advice/MT 608 Statement of a Metal Account. In all cases, the common reference of the MT 600 must bequoted in the relevant reference field (ie, field 21 of the MT 604/606/607 or field 61, subfield 7 of the MT 608).

The actual transfer of funds (ie, the consideration) is handled through the financial institution transfer messages(MT 202/203/205) and the confirmation of debits or credits is handled through the MT 900/910/950. In all cases, thecommon reference of the MT 600 must be quoted in the relevant reference field (ie, field 21 of theMT 202/203/205/910 or field 61, subfield 7 of the MT 950).


MT 600SWIFTStandards - Category 6

MT 600 Field Specifications

1. Field 20: Transaction Reference Number

FORMAT

16x

PRESENCE

Mandatory

DEFINITION

This field specifies the Sender’s reference to the precious metal deal.

NETWORK VALIDATED RULES

This field must not start or end with a slash ’/’ and must not contain two consecutive slashes ’//’ (Error code(s): T26).

2. Field 21: Related Reference

FORMAT

16x

PRESENCE

Mandatory

DEFINITION

This field specifies the related reference to the precious metal deal.



USAGE RULES

In a new contract, this field must contain the code NEW.

Where field 22 contains the code EXOPTION, this field must contain the field 20 Transaction Reference Number of therelated MT 601 Precious Metal Option Confirmation.

In all other cases, this field should contain the field 20 Transaction Reference Number of the previous MT 600. The contentof field 21, when other than NEW, will normally be a reference meaningful to the Sender rather than the Receiver. This isthe case because the Sender will normally include the content of field 20 from the MT 600 or MT 601 previously transmit-ted rather than received.



3. Field 22: Code/Common Reference

FORMAT

8a/4!a2!c4!n4!a2!c (Code) (Common Reference)

PRESENCE

Mandatory

DEFINITION

This field identifies the function of the message and contains a reference of the contract common to both the Sender and Receiver.

CODES

In confirmations sent by both financial institutions, Code must contain one of the following codes:

NEW Confirmation of a new contract.

AMEND Confirmation of mutually agreed changes to the quantity of metal, and/or price per unit, and/or consideration and/or settlement instructions of a contract for which a confirmation has been previ-ously sent.

CANCEL Confirmation of the mutually agreed cancellation of a contract.

EXOPTION Confirmation of the mutually agreed settlement of a precious metal option which has been exercised.

NOTICE Liquidation notice for a forward deal. A notice is optional; its use is dependent on internal practices.

CODES

In confirmations sent by one financial institution, Code must contain one of the following codes:

CORRECT Retransmission due to error - sent to correct error(s) in a previously sent MT 600.

COMPLETE Complementary Information - used to advise for the first time the name of the financial institution infields 53a, 57a and/or 87a (eg, in those cases where the previous confirmation contained the codeword UNKNOWN in field 57a).


Common Reference must contain the bank and location codes of the Sender and Receiver, ie, their BIC without the countrycode (Error code(s): T95). These codes must appear in alphabetical order, with letters taking precedence over numbers(Error code(s): T96).

The codes are separated by four digits, which must consist of the rightmost non-zero digits of the price per unit (ie, Price PerUnit of field 33G) (Error code(s): T22), preceded by the three digits to the left of it. If there are no digits to the left of it, thespace must be zero-filled.



4. Field 30: Date Contract Agreed/Amended

FORMAT

6!n (Date)

PRESENCE

Mandatory

DEFINITION

This field contains the date when the contract or amendment to it (eg, code AMEND in field 22) was agreed between the dealers.


Date must be a valid date expressed as YYMMDD (Error code(s): T50).

USAGE RULES

When CORRECT or COMPLETE is present in field 22, this field specifies the date of the contract or amendment to whichthis message refers.

5. Field 26C: Identification of the Metal

FORMAT

Option C [3!a]/15x/5!a4!a[4x][//8x]

Where

Subfield Format Name

1 [3!a] Delivery Details

2 /15x Availability

3 /5!a Allocation

4 4!a Type

5 [4x] Denomination

6 [//8x] Form



PRESENCE

Mandatory

DEFINITION

This field identifies the precious metal bought or sold.

CODES

When Delivery Details is present, it must contain the code CIF (Error code(s): T35).

CODES

Allocation must contain one of the following codes (Error code(s): T03):

ALLOC Specifies the metal is allocated

UNALL Specifies the metal is unallocated

CODES

Type identifies the metal or coin. When identifying a metal, one of the following codes must be used (Error code(s): T04):

GOLD Gold

SILV Silver

PLAT Platinum

PALL Palladium

RHOD Rhodium

RUTH Ruthenium

OSMI Osmium

IRID Iridium

CODES

When Type is used to identify a coin, one of the following codes must be used (Error code(s): T04). When this is the case,the denomination must be specified in Denomination:

Code Coin Name Denomination

AMEG AMERICAN EAGLE 50 25 10 5

ANUG AUSTRALIAN NUGGET 1/1 1/2 1/4 1/10




CORO AUSTRIAN CORONA 100 20 10

BRIT BRITANNIA 1/1 1/2 1/4 1/10

DUCA DUCAT FOURFOLD SINGLE 4 1

FRFR FRENCH FRANCS 20

GECU GOLDEN ECU 50

KRUG KRUGER RAND 1/1 1/2 1/4 1/10

LBTY LIBERTY DOLLAR 20 10 5

MAPL MAPLE 1/1 1/2 1/4 1/10

MEXP MEXICAN PESO 50 20 10 5

NSOV NEW SOVEREIGN 1/1 1/2

NOBL NOBLE 1/1

OSOV OLD SOVEREIGN 1/1 1/2

SAEG SILVER AMERICAN EAGLE 1/1

SECU SILVER ECU 5

STAT STATUE 20 10 5

VREN VRENELI 20 10

COIN OTHER COINS

USAGE RULES

Delivery Details is used only if CIF (ie, Cost, Insurance, Freight) applies. If this subfield is not present, then LOCO applies.

Availability specifies the availability of the metal (eg, LONDON, ZURICH, NEW YORK).

Form specifies the physical form of the metal.

6. Field 33G: Price Per Unit

FORMAT

Option G 3!a15d[5!c] (Currency) (Price) (Code)



PRESENCE

Mandatory

DEFINITION

This field specifies the currency and amount of the price per unit of the agreement and optionally a code indicating a unit ofmetal different from that specified in field 32F.

CODES

Code must contain the following code (Error code(s): T07):

SEE72 Indicates that more information can be found in field 72


Currency must be a valid ISO 4217 currency code (Error code(s): T52).

The integer part of Price must contain at least one digit. The decimal comma ’,’ is mandatory and is included in themaximum length (Error code(s): T40, T43).

USAGE RULES

When the price per unit of the agreement is based on a unit different from the unit specified in field 32F Quantity of theMetal, Price must be converted based on the unit used in field 32F, and the code SEE72 must appear in Code (ie, [5!c]) withthe conversion explained in field 72.

The number of digits following the decimal comma will not be validated.

7. Field 71C: Details of Adjustments

FORMAT

Option C 6*35x (Narrative)

which may be structured as:

Line 1 /4c/29x (Code) (Narrative)Lines 2-6 35x (Narrative)

PRESENCE

Optional

DEFINITION

This field specifies details of adjustments, eg, commission to the price stated in field 33G, if applicable.



CODES

Code may contain one or more of the following codes:

BROK Brokerage.

CHGS Charges.

COMM Commission.

MISC Miscellaneous.

FEES Fees.

POST Postage.

SHIN Shipping including insurance.

STAMP Stamp Duty.

TTAX Transaction tax.

VTAX Value added tax.

WITX Withholding tax.

USAGE RULES

All adjustments must be expressed in the same currency as the amounts stated in fields 33G and 34P or 34R.

8. Field 72: Sender to Receiver Information

FORMAT

6*35x (Narrative)

In addition to narrative text, structured text with the following line formats may be used:

Line 1 /8c/[additional information] Lines 2-6 [//continuation of additional information]

or[/8c/[additional information]]

PRESENCE

Optional



DEFINITION

This field specifies additional information for the Receiver.

CODES

One or more of the following codes may be used:

BROKER Identification of the broker negotiating the contract on behalf of one of the parties.

PHON The deal was arranged by telephone.

TELEX The deal was arranged by telex.

ELEC Indicates that the deal has been arranged via an electronic means. The code word can be followed byan indication of the specific electronic means used for arranging the deal.

USAGE RULES

Each code must be between slashes and must appear at the beginning of a line. All alphabetic characters must be in upper case.

Additional explanatory information, which may continue on the next line, must be preceded by double slashes "//".

9. Field 32F: Quantity of the Metal

FORMAT

Option F 3!a15d (Unit) (Amount)

PRESENCE

Mandatory in an optional sequence

DEFINITION

This field specifies the type of unit and the quantity of the precious metal bought by the Sender.

CODES

Unit must contain one of the following codes (Error code(s): T06):

FOZ Fine ounce

GOZ Gross ounce

GRM Gramme

KLO Kilo

LOT Lot



TAL Tael

TOL Tola

UNT Unit


Amount must not contain more than six digits following the decimal comma (Error code(s): C89).

The integer part of Amount must contain at least one digit. The decimal comma ’,’ is mandatory and is included in themaximum length (Error code(s): T40, T43).

10. Field 87a: Receiver of the Metal

FORMAT

Option A [/1!a][/34x]4!a2!a2!c[3!c]

(Party Identifier)(BIC)

Option B [/1!a][/34x][35x]

(Party Identifier)(Location)

Option D [/1!a][/34x]4*35x

(Party Identifier)(Name & Address)

PRESENCE


DEFINITION

This field identifies the party at which the Sender will receive the metal bought.


The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).

The BIC must not be a BEI, ie, must not be of subtype BEID, MCCO, TESP or TRCO (Error code(s): C05).

USAGE RULES

When the Receiver services a metal account (ie, an account for the metal specified in field 26C) for the Sender, and thisaccount is to be credited, option A should be used and the field must contain the Receiver’s BIC.

When the Sender services a metal account (ie, an account for the metal specified in field 26C) for the Receiver and thisaccount is to be debited, option A should be used and the field must contain the Sender’s BIC.

In forward contracts, if the receiver of the metal is not known, the code UNKNOWN must appear in this field, using option D.



11. Field 34P: Consideration

FORMAT

Option P 6!n3!a15d (Date) (Currency) (Amount)

PRESENCE


DEFINITION

This field specifies the value date, currency code and the consideration paid by the Sender.




The integer part of Amount must contain at least one digit. The decimal comma ’,’ is mandatory and is included in themaximum length. The number of digits following the comma must not exceed the maximum allowed for that specifiedcurrency (Error code(s): C03, T40, T43).

USAGE RULES

The consideration is calculated by multiplying the quantity of metal (ie, the amount stated in field 32F) by the price per unit(ie, the amount stated in field 33G), and, if applicable, adjusted for any amounts stated in field 71C.

12. Field 53a: Sender’s Correspondent

FORMAT

Option A [/1!a][/34x]4!a2!a2!c[3!c]


Option B [/1!a][/34x][35x]


Option D [/1!a][/34x]4*35x


PRESENCE

Optional

DEFINITION

This field identifies the financial institution from which the Sender will transfer the funds specified in field 34P.






13. Field 57a: Account With Institution

FORMAT

Option A [/1!a][/34x]4!a2!a2!c[3!c]


Option B [/1!a][/34x][35x]


Option D [/1!a][/34x]4*35x


PRESENCE


DEFINITION

This field identifies the financial institution and account where the Receiver wants to receive the funds specified in field 34P.




USAGE RULES

When the optional Party Identifier is present, it identifies the account which is to be debited or credited on the books of theaccount with institution which is specified.

When the Sender services an account for the Receiver in the relevant currency, and this account is to be credited, option Ashould be used and the field must contain the Sender’s BIC.

When the Receiver services an account for the Sender in the relevant currency, and this account is to be debited, option Ashould be used and the field must contain the Receiver’s BIC.

In forward contracts, if the account with institution is not known, the code UNKNOWN must appear in this field, usingoption D.


FORMAT


PRESENCE




DEFINITION

This field specifies the type of unit and the quantity of the precious metal sold by the Sender.

CODES


FOZ Fine ounce

GOZ Gross ounce

GRM Gramme

KLO Kilo

LOT Lot

TAL Tael

TOL Tola

UNT Unit




15. Field 87a: Deliverer of the Metal

FORMAT

Option A [/1!a][/34x]4!a2!a2!c[3!c]


Option B [/1!a][/34x][35x]


Option D [/1!a][/34x]4*35x


PRESENCE


DEFINITION

This field identifies the party to which the Sender will deliver the metal sold.






USAGE RULES

When the Sender services a metal account (ie, an account for the metal specified in field 26C) for the Receiver, and thisaccount is to be credited, option A should be used and the field must contain the Sender’s BIC.

When the Receiver services a metal account (ie, an account for the metal specified in field 26C) for the Sender and thisaccount is to be debited, option A should be used and the field must contain the Receiver’s SWIFT BIC.

In forward contracts, if the deliverer of the metal is not known, the code UNKNOWN must appear in this field, using option D.

16. Field 34R: Consideration

FORMAT

Option R 6!n3!a15d (Date) (Currency) (Amount)

PRESENCE


DEFINITION

This field specifies the value date, currency code and the consideration received by the Sender.




The integer part of Amount must contain at least one digit. The decimal comma ’,’ is mandatory and is included in themaximum length. The number of digits following the comma must not exceed the maximum allowed for that specifiedcurrency (Error code(s): C03, T40, T43).

USAGE RULES

The consideration is calculated by multiplying the quantity of metal (ie, the amount stated in field 32F) by the price per unit(ie, the amount stated in field 33G), and, if applicable, adjusted for any amounts stated in field 71C.


FORMAT

Option A [/1!a][/34x]4!a2!a2!c[3!c]


Option B [/1!a][/34x][35x]


Option D [/1!a][/34x]4*35x




PRESENCE


DEFINITION

This field identifies the financial institution and account at which the Sender wishes to receive the funds specified in field 34R.




USAGE RULES


When the Receiver services an account for the Sender in the relevant currency, and this account is to be credited, option Ashould be used and the field must contain the Receiver’s BIC.

When the Sender services an account for the Receiver in the relevant currency, and this account is to be debited, option Ashould be used and the field must contain the Sender’s BIC.

In forward contracts, if the account with institution is not known, the code UNKNOWN must appear in this field, usingoption D.



MT 601 Precious Metal Option Confirmation

MT 601 ScopeThis message type is exchanged between the financial institutions which have agreed to a precious metal option contract.

It is used to confirm the details of

a new contract between the partiesan amendment to a previously agreed contractthe cancellation of a contractthe surrender of an option by the buyer (holder) to the seller (grantor) for compensation.

In some cases, only one of the financial institutions involved in a contract will send a confirmation to the second financial institution. These cases include:

retransmission due to errors in a previously sent confirmationadditional information about a previously confirmed contract.

MT 601 Format Specifications

MT 601 Precious Metal Option Confirmation




M 22 Code/Common Reference 8a/4!a2!c4!n4!a2!c 3

M 23 Further Identification 16x 4

M 30 Date Contract Agreed/Amended 6!n 5


O 31C Earliest Exercise Date 6!n 7

M 31G Expiry Details 6!n/4!n/12a 8

M 32F Unit and Amount of the Metal 3!a15d 9

M 32B Strike Price 3!a15d 10

M 33B Premium Price 3!a15d 11

M 34a Premium Payment P or R 12

O 53a Sender’s Correspondent A, B or D 13








Field 53a may only be present if field 34P is used (Error code(s): C20).

C2

Field 31C may only be present in the case of an American style option (ie, subfield 3 of field 23 contains ’A’) (Errorcode(s): C79).

C3

The currency in the amount fields 32B and 34a must be the same (Error code(s): C02).

MT 601 Usage RulesChanges to the quantity of the metal, and/or strike price, and/or premium price, and/or exercise date, and/or settlement instructions require another confirmation.This message type handles only the contract part of the precious metal option.In those cases where the message is exchanged to confirm a new contract, or an amendment, cancellation or close outof a previously agreed contract, the content of the confirmations should be identical, and is used to confirm informationalready known to the two parties. Careful verification of the exchanged messages is, of course, required.A precious metal option may be exercised by the buyer. To confirm the settlement of the exercise of a precious metaloption, an MT 600 Precious Metal Trade Confirmation may be used, with the function code EXOPTION in field 22and field 21 containing the TRN of the related MT 601.



FORMAT

16x

PRESENCE

Mandatory

DEFINITION

This field specifies the Sender’s reference to the precious metal deal.






FORMAT

16x

PRESENCE

Mandatory

DEFINITION

This field specifies the related reference to the precious metal deal.



USAGE RULES

When this message is a confirmation of a new contract, the code NEW must be used.

In all other cases, this field must contain the field 20 TRN of the previous MT 601.

The content of field 21, when other than NEW, will normally be a reference meaningful to the Sender rather than theReceiver. This is because the Sender will normally include the content of field 20 from the MT 601 previously transmittedrather than received.

3. Field 22: Code/Common Reference

FORMAT

8a/4!a2!c4!n4!a2!c (Code) (Common Reference)

PRESENCE

Mandatory

DEFINITION

This field identifies the function of the message and contains the reference of the contract common to both the Sender and Receiver.

CODES

In confirmations sent by both financial institutions, Code must contain one of the following codes:

NEW Confirmation of a new precious metal option.



AMEND Confirmation of mutually agreed changes to the quantity of the metal, and/or strike price, and/orpremium price and/or exercise date and/or settlement information of the contract for which a confir-mation message has been previously sent.

CANCEL Confirmation of the mutually agreed cancellation of a contract.

CLOSEOUT Confirmation of the mutually agreed surrender of the option by the buyer (holder) to the seller(grantor) for compensation.

CODES

In confirmations sent by one financial institution, Code must contain one of the following codes:

CORRECT Retransmission due to error - to correct error(s) in a previously sent MT 601.

COMPLETE Complementary information - used to advise for the first time the name of the financial institution infield 53a and/or 57a (eg, in those cases where the previous confirmation contained the codeUNKNOWN in field 57a).


Common Reference must contain the bank and location codes of the Sender and Receiver, ie, their BIC without the countrycode (Error code(s): T95). These codes must appear in alphabetical order, with letters taking precedence over numbers(Error code(s): T96).

The codes are separated by four digits, which must consist of the rightmost non-zero digits of the strike price specified infield 32B (Error code(s): T22), preceded by the three digits to the left of it. If there are no digits to the left of it, the spacemust be zero-filled.

4. Field 23: Further Identification

FORMAT

16x to be formatted as:4a/4a/1!a, where

4a Buy/Sell Indicator/4a Call/Put Indicator/1!a Style Indicator

PRESENCE

Mandatory

DEFINITION

This field specifies whether, from the Sender’s point of view, the option is sold or bought, is a put or a call, and indicates the style.



CODES

Buy/Sell Indicator must contain one of the following codes:

BUY The Sender is confirming an option bought

SELL The Sender is confirming an option sold

CODES

Call/Put Indicator must contain one of the following codes:

CALL The Sender is confirming a call option

PUT The Sender is confirming a put option

CODES

Style Indicator must contain one of the following codes (Error code(s): T09):

A This is an American style option

E This is a European style option

5. Field 30: Date Contract Agreed/Amended

FORMAT

6!n (Date)

PRESENCE

Mandatory

DEFINITION

This field contains the date when the contract or amendment to it (eg, code AMEND in field 22) was agreed between the dealers.





USAGE RULES

When CORRECT or COMPLETE is present in field 22, this field specifies the date of the contract or amendment to whichthis message refers.


FORMAT

Option C [3!a]/15x/5!a4!a[4x][//8x]

Where



2 /15x Availability

3 /5!a Allocation

4 4!a Type

5 [4x] Denomination

6 [//8x] Form

PRESENCE

Mandatory

DEFINITION

This field specifies the underlying precious metal of the option contract.

CODES




CODES

Type identifies the metal or coin. When identifying a metal, one of the following codes must be used (Error code(s): T04) :

GOLD Gold



SILV Silver

PLAT Platinum

PALL Palladium

RHOD Rhodium

RUTH Ruthenium

OSMI Osmium

IRID Iridium

CODES









GECU GOLDEN ECU 50



MAPL MAPLE 1/1 1/2 1/4 1/10



NOBL NOBLE 1/1



SECU SILVER ECU 5




STAT STATUE 20 10 5

VREN VRENELI 20 10

COIN OTHER COINS


Delivery Details must not be present, as CIF does not apply. In this message, LOCO always applies (Error code(s): C87).

USAGE RULES



7. Field 31C: Earliest Exercise Date

FORMAT

Option C 6!n (Date)

PRESENCE

Conditional (C2)

DEFINITION

This field is used in an American style option to specify the earliest date the exercise of the option may be requested.



8. Field 31G: Expiry Details

FORMAT

Option G 6!n/4!n/12a (Date) (Time) (Location)

PRESENCE

Mandatory

DEFINITION

This field specifies the date, time and location at which the option expires.





Time must be a valid time expressed as HHMM (Error code(s): T38).

9. Field 32F: Unit and Amount of the Metal

FORMAT


PRESENCE

Mandatory

DEFINITION

This field specifies the type of unit and the quantity of the underlying metal.

CODES


FOZ Fine ounce

GOZ Gross ounce

GRM Gramme

KLO Kilo

LOT Lot

TAL Tael

TOL Tola

UNT Unit




10. Field 32B: Strike Price



FORMAT

Option B 3!a15d (Currency) (Price)

PRESENCE

Mandatory

DEFINITION

This field specifies the currency code and the strike price per unit of the underlying metal.




USAGE RULES

The number of digits in Price following the decimal comma will not be validated.

11. Field 33B: Premium Price

FORMAT

Option B 3!a15d (Currency) (Price)

PRESENCE

Mandatory

DEFINITION

This field specifies the currency code and amount of the premium price per unit of the underlying metal.


If not PCT, Currency must be a valid ISO 4217 currency code (Error code(s): T52).


USAGE RULES

The number of digits following the decimal comma in the Price will not be validated.

12. Field 34a: Premium Payment



FORMAT

Option P 6!n3!a15d (Date) (Currency) (Amount)Option R 6!n3!a15d (Date) (Currency) (Amount)

PRESENCE

Mandatory

DEFINITION

This field specifies the value date, currency code and premium amount which the buyer pays to the seller for the option.

The letter option indicates, from the Sender’s point of view, the direction of the payment of the premium.

P = Paid, ie, the Sender pays the premium.

R = Received, ie, the Sender receives the premium.




The integer part of Amount must contain at least one digit. The decimal comma ’,’ is mandatory and is included in themaximum length. The number of digits following the comma must not exceed the maximum number allowed for the speci-fied currency (Error code(s): C03, T40, T43).

13. Field 53a: Sender’s Correspondent

FORMAT

Option A [/1!a][/34x]4!a2!a2!c[3!c]


Option B [/1!a][/34x][35x]


Option D [/1!a][/34x]4*35x


PRESENCE

Conditional (C1)

DEFINITION

This field identifies the financial institution from which the Sender will transfer the premium amount specified in field 34Pto the financial institution specified in field 57a.







FORMAT

Option A [/1!a][/34x]4!a2!a2!c[3!c]


Option B [/1!a][/34x][35x]


Option D [/1!a][/34x]4*35x


PRESENCE

Mandatory

DEFINITION

This field identifies the financial institution and account where the receiver of the premium wishes to receive the amount specified in field 34a.




USAGE RULES


When the receiver of the premium services an account in the relevant currency for the payer of the premium, and thisaccount is to be debited, option A should be used and the field must contain the BIC of the receiver of the premium.

When the payer of the premium services an account in the relevant currency for the receiver of the premium, and thisaccount is to be credited, option A should be used and the field must contain the BIC of the payer of the premium.

If the account with institution is not known, the code UNKNOWN must appear in this field, using option D.


FORMAT

6*35x (Narrative)






PRESENCE

Optional

DEFINITION


CODES






USAGE RULES





MT 604 Precious Metal Transfer/Delivery Order

MT 604 ScopeThis message is sent by the owner of a metal account or its authorised agent to the metal account servicing institution.

It is used to instruct the Receiver to transfer by book entry, or physically deliver, specified quantities of allocated or unallo-cated precious metal to a specified party.


MT 604 Precious Metal Transfer/Delivery Order


M 26C Identification of the Metal and the Metal Account [3!a]/15x/5!a4!a[4x][//8x] 1

O 25 Further Account Identification 35x 2

M 30 Value Date 6!n 3


----->




O 26D Certificate Number(s) and/or Bar Number(s) 30*65x 8


O 82a Instructing Party A, B or D 10

O 87a Receiver of the Metal A, B or D 11

M 88a Beneficiary of the Metal A, B or D 12


-----|





The repetitive sequence must appear at least once, but not more than ten times (Error code(s): T10).

MT 604 Usage RulesEach transfer/delivery order must be for the same type of metal, metal account and value date.


1. Field 26C: Identification of the Metal and the Metal Account

FORMAT

Option C [3!a]/15x/5!a4!a[4x][//8x]

Where



2 /15x Availability

3 /5!a Allocation

4 4!a Type

5 [4x] Denomination

6 [//8x] Form

PRESENCE

Mandatory

DEFINITION

This field identifies the metal to be transferred/delivered, as well as the metal account to be debited which is serviced by theReceiver for the Sender, or the party for which the Sender is an authorised agent.

CODES

When Delivery Details is present, it must contain the code CIF (Error code(s): T35).



CODES




CODES


GOLD Gold

SILV Silver

PLAT Platinum

PALL Palladium

RHOD Rhodium

RUTH Ruthenium

OSMI Osmium

IRID Iridium

CODES









GECU GOLDEN ECU 50






MAPL MAPLE 1/1 1/2 1/4 1/10



NOBL NOBLE 1/1



SECU SILVER ECU 5

STAT STATUE 20 10 5

VREN VRENELI 20 10

COIN OTHER COINS

USAGE RULES

Delivery Details is used only if CIF (ie, Cost, Insurance, Freight) applies. If this subfield is not present, then LOCO applies.



2. Field 25: Further Account Identification

FORMAT

35x

PRESENCE

Optional

DEFINITION

This field provides further identification information on the metal account to be debited.

3. Field 30: Value Date



FORMAT

6!n (Date)

PRESENCE

Mandatory

DEFINITION

This field specifies the date on which the metal is to be transferred/delivered.




FORMAT

6*35x (Narrative)




PRESENCE

Optional

DEFINITION

This field specifies additional information for the Receiver concerning the entire message.

CODES








USAGE RULES




FORMAT

16x

PRESENCE

Mandatory

DEFINITION

This field specifies the Sender’s reference to the precious metal transaction.




FORMAT

16x

PRESENCE

Mandatory

DEFINITION

This field contains a reference to the related transaction.



USAGE RULES

If the related message is an MT 600 Precious Metal Trade Confirmation, this field must contain the common reference ofthat MT 600.

If the related message is an MT 604, this field must contain the contents of field 21 of that MT 604.

If the Sender is not the originator of the transaction and no related reference is available, the code NONREF must be used inthis field.



In all other cases, this field must contain a reference to the related transaction which is meaningful to the beneficiary of the metal.


FORMAT

16x

PRESENCE

Mandatory

DEFINITION

This field indicates whether the metal is to be delivered (ie, physical movement is involved) or transferred (ie, by book entry).

CODES

One of the following codes must be used:

DELIVERY Delivery

TRANSFER Transfer

8. Field 26D: Certificate Number(s) and/or Bar Number(s)

FORMAT

Option D 30*65x (Narrative)

PRESENCE

Optional

DEFINITION

This field lists the certificate and/or bar number(s) of the metal to be transferred/delivered.


FORMAT




PRESENCE

Mandatory

DEFINITION

This field specifies the type of unit and the quantity of the precious metal to be transferred/delivered.

CODES


FOZ Fine ounce

GOZ Gross ounce

GRM Gramme

KLO Kilo

LOT Lot

TAL Tael

TOL Tola

UNT Unit




10. Field 82a: Instructing Party

FORMAT

Option A [/1!a][/34x]4!a2!a2!c[3!c]


Option B [/1!a][/34x][35x]


Option D [/1!a][/34x]4*35x


PRESENCE

Optional



DEFINITION

This field identifies the initiator of the transaction, when other than the Sender.





FORMAT

Option A [/1!a][/34x]4!a2!a2!c[3!c]


Option B [/1!a][/34x][35x]


Option D [/1!a][/34x]4*35x


PRESENCE

Optional

DEFINITION

This field identifies the party, if different from the Receiver of the message, to which the precious metal is to be delivered/ transferred in favour of the party specified in field 88a.




12. Field 88a: Beneficiary of the Metal

FORMAT

Option A [/1!a][/34x]4!a2!a2!c[3!c]


Option B [/1!a][/34x][35x]


Option D [/1!a][/34x]4*35x


PRESENCE

Mandatory



DEFINITION

This field identifies the beneficiary of the precious metal.





FORMAT

6*35x (Narrative)




PRESENCE

Optional

DEFINITION

This field specifies additional information for the Receiver concerning the transfer/delivery order in this occurrence of the repetitive sequence.

CODES






USAGE RULES




MT 605 Precious Metal Notice to Receive

MT 605 ScopeThis message is sent by the owner of a metal account or its authorised agent to the metal account servicing institution.

It notifies the Receiver of the impending delivery/transfer of specified quantities of precious metal, physically or by bookentry, to be held for, or credited to, the account serviced for the Sender or the party specified in field 88a for which theSender is an authorised agent.


MT 605 Precious Metal Notice to Receive







----->





O 82a Instructing Party A, B or D 10

M 87a Deliverer of the Metal A, B or D 11

O 88a Beneficiary of the Metal A, B or D 12


-----|





The repetitive sequence must be present at least once, but not more than ten times (Error code(s): T10).

MT 605 Usage RulesEach notice must relate to the same type of metal, metal account and value date.



FORMAT

16x

PRESENCE

Mandatory

DEFINITION





FORMAT

Option C [3!a]/15x/5!a4!a[4x][//8x]

Where



2 /15x Availability

3 /5!a Allocation

4 4!a Type

5 [4x] Denomination

6 [//8x] Form



PRESENCE

Mandatory

DEFINITION

This field identifies the metal to be received by the Receiver in favour of the Sender or the party for which the Sender is an authorised agent (ie, the party specified in field 88a). It also identifies the metal account serviced by the Receiver for theSender or the party for which the Sender is an authorised agent.

CODES




CODES


GOLD Gold

SILV Silver

PLAT Platinum

PALL Palladium

RHOD Rhodium

RUTH Ruthenium

OSMI Osmium

IRID Iridium

CODES












GECU GOLDEN ECU 50



MAPL MAPLE 1/1 1/2 1/4 1/10



NOBL NOBLE 1/1



SECU SILVER ECU 5

STAT STATUE 20 10 5

VREN VRENELI 20 10

COIN OTHER COINS



USAGE RULES




FORMAT

35x



PRESENCE

Optional

DEFINITION

This field contains further identification information on the metal account to be credited.


FORMAT

6!n (Date)

PRESENCE

Mandatory

DEFINITION

This field specifies the date on which the specified metal is to be received.




FORMAT

6*35x (Narrative)




PRESENCE

Optional

DEFINITION

This field specifies additional information for the Receiver concerning the entire message.

CODES







ELEC Indicates that the deal has been arranged via an electronic means. The code can be followed by an indication of the specific electronic means used for arranging the deal.

USAGE RULES




FORMAT

16x

PRESENCE

Mandatory

DEFINITION

This field contains a reference to the related transaction.



USAGE RULES

If the related message is an MT 604 Precious Metal Transfer/ Delivery Order, this field must contain the contents of field 21of that MT 604.


If no related reference is available, the code NONREF must be used in this field.


FORMAT

16x



PRESENCE

Mandatory

DEFINITION

This field indicates whether the metal will be delivered (ie, physical movement is involved) or transferred (ie, by bookentry) to the Receiver of the message.

CODES

One of the following codes must be used:

DELIVERY Delivery

TRANSFER Transfer


FORMAT


PRESENCE

Optional

DEFINITION

This field lists the certificate and/or bar number(s) of the metal to be received.


FORMAT


PRESENCE

Mandatory

DEFINITION

This field specifies the type of unit and the quantity of metal to be received.

CODES


FOZ Fine ounce



GOZ Gross ounce

GRM Gramme

KLO Kilo

LOT Lot

TAL Tael

TOL Tola

UNT Unit





FORMAT

Option A [/1!a][/34x]4!a2!a2!c[3!c]


Option B [/1!a][/34x][35x]


Option D [/1!a][/34x]4*35x


PRESENCE

Optional

DEFINITION

This field identifies the party by order of which the metal is to be transferred/delivered to the Receiver of the message, if different from the Sender.







FORMAT

Option A [/1!a][/34x]4!a2!a2!c[3!c]


Option B [/1!a][/34x][35x]


Option D [/1!a][/34x]4*35x


PRESENCE

Mandatory

DEFINITION

This field identifies the party from which the precious metal will be delivered/transferred to the Receiver.





FORMAT

Option A [/1!a][/34x]4!a2!a2!c[3!c]


Option B [/1!a][/34x][35x]


Option D [/1!a][/34x]4*35x


PRESENCE

Optional

DEFINITION

Where applicable, this field identifies the party for which the Sender is the authorised agent.







FORMAT

6*35x (Narrative)




PRESENCE

Optional

DEFINITION

This field specifies additional information for the Receiver concerning the notice in this occurrence of the repetitive sequence.

CODES






USAGE RULES





MT 606 Precious Metal Debit Advice

MT 606 ScopeThis message is sent by the metal account servicing institution to the account owner or its authorised agent.

It is used to advise the Receiver of an entry which has been debited to its account or an account for which the Receiver is an authorised agent.


MT 606 Precious Metal Debit Advice









O 82a Instructing Party A or D 8

O 87a Receiver of the Metal A or D 9

O 88a Beneficiary of the Metal A or D 10



MT 606 Network Validated RulesThere are no network validated rules for this message type.





FORMAT

16x

PRESENCE

Mandatory

DEFINITION





FORMAT

16x

PRESENCE

Mandatory

DEFINITION

This field contains the reference of the transaction which resulted in this message.



USAGE RULES


If the related message is an MT 604 Precious Metal Transfer/Delivery Order, this field must contain the contents of field 20of that MT 604.



FORMAT

Option C [3!a]/15x/5!a4!a[4x][//8x]



Where



2 /15x Availability

3 /5!a Allocation

4 4!a Type

5 [4x] Denomination

6 [//8x] Form

PRESENCE

Mandatory

DEFINITION

This field identifies the metal to which this message relates, and the metal account serviced by the Sender for the Receiveror the party for which the Receiver is an authorised agent, which is debited for the amount of metal advised by this message.

CODES




CODES


GOLD Gold

SILV Silver

PLAT Platinum

PALL Palladium

RHOD Rhodium

RUTH Ruthenium

OSMI Osmium



IRID Iridium

CODES









GECU GOLDEN ECU 50



MAPL MAPLE 1/1 1/2 1/4 1/10



NOBL NOBLE 1/1



SECU SILVER ECU 5

STAT STATUE 20 10 5

VREN VRENELI 20 10

COIN OTHER COINS





USAGE RULES




FORMAT

35x

PRESENCE

Optional

DEFINITION

This field contains further identification information on the metal account which has been debited.


FORMAT


PRESENCE

Optional

DEFINITION

This field lists the certificate and/or bar number(s) of the metal which has been debited.


FORMAT

6!n (Date)

PRESENCE

Mandatory



DEFINITION

This field specifies the date on which the specified metal was debited.




FORMAT


PRESENCE

Mandatory

DEFINITION

This field specifies the type of unit and the quantity of metal which has been debited from the metal account.

CODES


FOZ Fine ounce

GOZ Gross ounce

GRM Gramme

KLO Kilo

LOT Lot

TAL Tael

TOL Tola

UNT Unit







FORMAT

Option A [/1!a][/34x]4!a2!a2!c[3!c]


Option D [/1!a][/34x]4*35x


PRESENCE

Optional

DEFINITION

This field identifies the party which instructed the Sender to execute the transaction, when different from the Receiver.





FORMAT

Option A [/1!a][/34x]4!a2!a2!c[3!c]


Option D [/1!a][/34x]4*35x


PRESENCE

Optional

DEFINITION

This field identifies the party to which the precious metal has been delivered/transferred.





FORMAT

Option A [/1!a][/34x]4!a2!a2!c[3!c]


Option D [/1!a][/34x]4*35x




PRESENCE

Optional

DEFINITION

This field identifies the final beneficiary of the metal.





FORMAT

6*35x (Narrative)




PRESENCE

Optional

DEFINITION


CODES








USAGE RULES





MT 607 Precious Metal Credit Advice

MT 607 ScopeThis message is sent by the metal account servicing institution to the account owner or its authorised agent.

It is used to advise the Receiver of an entry which has been credited to its account or an account for which the Receiver isan authorised agent.


MT 607 Precious Metal Credit Advice









O 82a Instructing Party A or D 8

O 87a Deliverer of the Metal A or D 9



MT 607 Network Validated RulesThere are no network validated rules for this message type.





FORMAT

16x

PRESENCE

Mandatory

DEFINITION





FORMAT

16x

PRESENCE

Mandatory

DEFINITION

This field contains the reference to the related message or transaction.



USAGE RULES


If the related message is an MT 604 Precious Metal Transfer/ Delivery Order, this field must contain the contents of field 21of that MT 604.



FORMAT

Option C [3!a]/15x/5!a4!a[4x][//8x]

Where





2 /15x Availability

3 /5!a Allocation

4 4!a Type

5 [4x] Denomination

6 [//8x] Form

PRESENCE

Mandatory

DEFINITION

This field identifies the metal to which this message relates and the metal account serviced by the Sender for the Receiver orthe party for which the Receiver is an authorised agent, which is credited with the amount of metal advised by this message.

CODES




CODES


GOLD Gold

SILV Silver

PLAT Platinum

PALL Palladium

RHOD Rhodium

RUTH Ruthenium

OSMI Osmium

IRID Iridium



CODES









GECU GOLDEN ECU 50



MAPL MAPLE 1/1 1/2 1/4 1/10



NOBL NOBLE 1/1



SECU SILVER ECU 5

STAT STATUE 20 10 5

VREN VRENELI 20 10

COIN OTHER COINS





USAGE RULES




FORMAT

35x

PRESENCE

Optional

DEFINITION

This field contains further identification information on the metal account which has been credited.


FORMAT


PRESENCE

Optional

DEFINITION

This field lists the certificate and/or bar number(s) of the metal which has been credited.


FORMAT

6!n (Date)

PRESENCE

Mandatory

DEFINITION

This field specifies the date on which the specified metal was credited.






FORMAT


PRESENCE

Mandatory

DEFINITION

This field specifies the type of unit and the quantity of metal which has been credited to the metal account.

CODES


FOZ Fine ounce

GOZ Gross ounce

GRM Gramme

KLO Kilo

LOT Lot

TAL Tael

TOL Tola

UNT Unit





FORMAT

Option A [/1!a][/34x]4!a2!a2!c[3!c]


Option D [/1!a][/34x]4*35x




PRESENCE

Optional

DEFINITION

This field identifies the instructing party which originated the transaction, if different from the Sender.





FORMAT

Option A [/1!a][/34x]4!a2!a2!c[3!c]


Option D [/1!a][/34x]4*35x


PRESENCE

Optional

DEFINITION

This field identifies the party from which the precious metal was received.





FORMAT

6*35x (Narrative)






PRESENCE

Optional

DEFINITION


CODES






USAGE RULES





MT 608 Statement of a Metal Account

MT 608 ScopeThis message is sent by a metal account servicing institution to the metal account owner or its authorised agent.

It is used to advise the Receiver of transactions booked to a metal account.

This statement message contains all bookings present in the account, whether caused by a message received via SWIFT orby some other means.


MT 608 Statement of a Metal Account





M 28 Statement Number/Sequence Number 5n[/2n] 4

M 60a Opening Balance F or M 5

----->

O 61 Statement Line * 6

-----|

M 62a Closing Balance F or M 7

O 64 Closing Available Balance 1!a6!n3!a15d 8

----->

O 65 Forward Available Balance 1!a6!n3!a15d 9

-----|

M = Mandatory O = Optional* See Field Specifications




The metal code must be the same for all occurrences of fields 60a, 62a, 64 and 65 in the message (Error code(s): C80).

MT 608 Usage RulesWhile it may be the ultimate goal to have full identification for all bookings, this is currently not always practicable for bookings from non-SWIFT transactions. A four character code is provided, however, for classification according to thenature of such non-SWIFT transactions.Each statement message carries an opening and a closing balance, as well as its sequence number in field 28 StatementNumber/Page Number. The book entry itself is contained in a field 61 Statement Line. The last message in a multiplemessage statement is identified by the closing balance in field 62a Closing Balance showing the tag letter ’F’.Since a SWIFT message is restricted to the maximum input message length, it is possible that several messages(’pages’) may be needed to accommodate all the information. In these instances, each message should be identified asto its sequence in the total number.To facilitate manual reconciliation, it is recommended that statement entries be sorted by debits and credits and theseby value date in ascending amounts.



FORMAT

16x

PRESENCE

Mandatory

DEFINITION

This field specifies the Sender’s reference to the precious metal statement.




FORMAT

Option C [3!a]/15x/5!a4!a[4x][//8x]

where:






2 /15x Availability

3 /5!a Allocation

4 4!a Type

5 [4x] Denomination

6 [//8x] Form

PRESENCE

Mandatory

DEFINITION

This field identifies the metal account, serviced by the Sender for the Receiver or the party for which the Receiver is an authorised agent, to which this statement relates.

CODES




CODES


GOLD Gold

SILV Silver

PLAT Platinum

PALL Palladium

RHOD Rhodium

RUTH Ruthenium

OSMI Osmium

IRID Iridium



CODES









GECU GOLDEN ECU 50



MAPL MAPLE 1/1 1/2 1/4 1/10



NOBL NOBLE 1/1



SECU SILVER ECU 5

STAT STATUE 20 10 5

VREN VRENELI 20 10

COIN OTHER COINS





USAGE RULES




FORMAT

35x

PRESENCE

Optional

DEFINITION

This field contains further identification information on the metal account to which this statement relates.

4. Field 28: Statement Number/Sequence Number

FORMAT

5n[/2n] (Statement Number) (Sequence Number)

PRESENCE

Mandatory

DEFINITION

This field contains the sequential number of the statement followed by the sequence number of the message within that statement.

5. Field 60a: Opening Balance

FORMAT

Option F 1!a6!n3!a15d (D/C Mark) (Date) (Unit) (Amount)Option M 1!a6!n3!a15d (D/C Mark) (Date) (Unit) (Amount)

PRESENCE

Mandatory

DEFINITION

This field specifies, for the (intermediate) opening balance, whether it is a debit or credit balance, the date, the unit of metaland amount of the balance.



CODES

D/C Mark must contain one of the following codes (Error code(s): T51):

C The (intermediate) opening balance is a credit balance.

D The (intermediate) opening balance is a debit balance.

CODES


FOZ Fine ounce

GOZ Gross ounce

GRM Gramme

KLO Kilo

LOT Lot

TAL Tael

TOL Tola

UNT Unit



Unit must be the same in the fields 60, 62a, 64 and 65 (Error code(s): C80).


The integer part of Amount must contain at least one digit. The decimal comma ’,’ is mandatory and is included in themaximum length. (Error code(s): T40, T43).

USAGE RULES

This field must always be the same as field 62a (closing balance) of the previous statement message for this account.

The first statement message for a specified period must contain field 60F (first opening balance); additional statementmessages for the same statement period must contain field 60M (intermediate opening balance).

6. Field 61: Statement Line



FORMAT

6!n[4!n]2a[1!a]15d1!a3!c16x[//16x][34x]

where:


1 6!n Date (YYMMDD)

2 [4!n] Entry Date (MMDD)

3 2a Debit/Credit Mark

4 [1!a] Funds Code (3rd character of the currency code, if needed)

5 15d Amount

6 1!a3!c Transaction Type Identification Code

7 16x Reference for the Account Owner

8 [//16x] Account Servicing Institution’s Reference

9 [34x] Supplementary Details

PRESENCE

Optional

DEFINITION

This field contains the details of each transaction.

CODES

Subfield 3, Debit/Credit Mark, must contain one of the following codes (Error code(s): T51):

D Debit

C Credit

CODES

Subfield 6, Transaction Type Identification Code, may be completed in one of three ways (Error code(s): T53):

1. For entries related to SWIFT transfer instructions and subsequent charge messages:



Format: S3!n

The last three characters will indicate the message type of the SWIFT message causing the entry (fordebit entries) or the message type of the SWIFT message used to advise the account owner (for credit entries).

2. For entries related to payment and transfer instructions, including related charges messages, not sentthrough SWIFT or where an alpha description is preferred.

Format: N3!c

3. For entries being first advised by the statement (items originated by the account servicing institution):

Format: F3!c

CODES

When formats (2) or (3) are used, the last three characters, ie, 3!c, may contain one of the following codes:

BRF Brokerage fee

CHG Charges and other expenses

COM Commission

DIV Dividends-Warrants

EQA Equivalent amount

INT Interest

MSC Miscellaneous

PCH Purchase

RTI Returned item

SAL Sale

STO Standing order

TRF Transfer

VDA Value date adjustment (used with an entry made to withdraw an incorrectly dated entry - it will befollowed by the correct entry with the relevant code)




Subfield 1, Date, must be a valid date expressed as YYMMDD (Error code(s): T50).

The SWIFT System validates subfield 2, Entry Date (Date in reduced ISO form), using current System Year (Error code(s): T50).

Subfield 4, Funds Code, must not be used in this message (Error code(s): C91).



When the first character of subfield 6, Transaction Type Identification Code, is an ’S’, the remaining characters must bein the range 100-999 (Error code(s): T18).

USAGE RULES

This field may be repeated within the constraints of the maximum input message length.

The following rules apply to subfield 7, Reference for the Account Owner:

At least one valid character other than a blank must be present.For debit entries, the purpose of this subfield is to identify, to the account owner, the instruction which caused thedebit. Therefore, the content of this subfield is the field 20 Sender’s Transaction Reference Number (or its equivalent)of the original instruction.Credit entries may be the result of one of the following situations:

1. The account servicing institution is identifying, to the account owner the receipt of funds for its account as a resultof a related transaction. In this case, the content of subfield 7, Reference for the Account Owner, is the referencefor the beneficiary (eg, field 21 Related Reference) of the related transaction.

2. The account servicing institution has issued a payment instruction to the account owner and the credit identified inthis subfield is for that payment. The content of Reference for the Account Owner is the field 20 Transaction Reference Number (or its equivalent) of the payment instruction issued by the account servicing institution.

If no reference is available for this subfield, the code NONREF shall be used. The account servicing institution must thensupply, in subfield 9, Supplementary Details, what it considers to be the best alternative information.This reference must be quoted in all cases when available. In cases where a transaction passes through several financial institutions, the original reference must always be forwarded.This reference must always be quoted against any charges or fees debited by the account servicing institution.Debits against standing instructions must show the reference of the standing instruction.In cases where a mutually agreed alternative reference exists (eg, in foreign exchange or money market transactions), this reference should then be used.If the statement entry concerns a cheque, the cheque number should be indicated in this subfield.

The following rules apply to subfield 8, Account Servicing Institution’s Reference:

The content of this subfield is the account servicing institution’s own reference for the transaction.When the transaction has been initiated by the account servicing institution, this reference may be identical to subfield7, Reference for the Account Owner. If this is the case, Account Servicing Institution’s Reference, sub field 8 may be omitted.

The following rules apply to subfield 9, Supplementary Details:

When no reference for the account owner is available, ie, Reference for the Account Owner contains NONREF, theaccount servicing institution should provide the best available alternative information in this subfield.Supplementary details may be provided when an advice has not been sent for a transaction, or to provide additional information to facilitate reconciliation.



7. Field 62a: Closing Balance

FORMAT

Option F 1!a6!n3!a15d (D/C Mark) (Date) (Unit) (Amount)Option M 1!a6!n3!a15d (D/C Mark) (Date) (Unit) (Amount)

PRESENCE

Mandatory

DEFINITION

This field specifies, for the (intermediate) closing balance, whether it is a debit or credit balance, the date, the unit of metaland amount of the balance.

CODES


C The (intermediate) closing balance is a credit balance.

D The (intermediate) closing balance is a debit balance.

CODES


FOZ Fine ounce

GOZ Gross ounce

GRM Gramme

KLO Kilo

LOT Lot

TAL Tael

TOL Tola

UNT Unit







USAGE RULES

The contents of this field will be repeated in field 60a of the subsequent statement message for this account.

If there is only one statement message transmitted for the period, this field must use tag option F, ie, 62F. When severalmessages are transmitted for the same statement period, all statement messages except the last message must contain field62M (intermediate closing balance); the last message of the statement period must contain field 62F (final closing balance).

8. Field 64: Closing Available Balance

FORMAT

1!a6!n3!a15d (D/C Mark) (Date) (Unit) (Amount)

PRESENCE

Optional

DEFINITION

This field specifies, for the available closing balance, whether it is a debit or credit balance, the date, the unit of metal andamount of the balance.

CODES


C The available closing balance is a credit balance.

D The available closing balance is a debit balance.

CODES


FOZ Fine ounce

GOZ Gross ounce

GRM Gramme

KLO Kilo

LOT Lot

TAL Tael



TOL Tola

UNT Unit





9. Field 65: Forward Available Balance

FORMAT

1!a6!n3!a15d (D/C Mark) (Date) (Unit) (Amount)

PRESENCE

Optional

DEFINITION

This field specifies, for the forward available balance, whether it is a debit or credit balance, the date, the unit of metal andamount of the balance.

CODES


C The forward available balance is a credit balance.

D The forward available balance is a debit balance.

CODES


FOZ Fine ounce

GOZ Gross ounce

GRM Gramme

KLO Kilo

LOT Lot



TAL Tael

TOL Tola

UNT Unit





USAGE RULES

Unit specifies the code for the unit of metal associated with this metal account.



MT 609 Statement of Metal Contracts

MT 609 ScopeThis message is sent by a metal trader to its counterparty.

It is a listing of all undelivered spots and/or outstanding forward contracts, and/or unexercised options, as at a specified date.


MT 609 Statement of Metal Contracts


M 27 Sequence of Total 1!n/1!n 1


M 31C Statement Date 6!n 3

O 30 Date Prepared 6!n 4

----->


----->


----->

M 68a Transaction Details B or C 7

-----|-----|


-----|



Field 68B must be used when the immediately preceding field 23 contains either SPOTS or FORWARDS (Errorcode(s): C85).



C2

Field 68C must be used when the immediately preceding field 23 contains the code word OPTIONS (Error code(s): C86).

C3

The currency in subfield 7 and 10 of field 68B and subfields 7, 9 and 11 of field 68C must be the same (Error code(s): T74).

MT 609 Usage RulesAll the entries must be related to contracts outstanding as at the same date (ie, the date specified in field 31C).All the entries should correspond to the details of previously exchanged confirmations for these metal contracts.Since a SWIFT message, as sent, is restricted to the maximum input message length, it is possible that severalmessages are needed to accommodate all the information.


1. Field 27: Sequence of Total

FORMAT

1!n/1!n (Number) (Total)

PRESENCE

Mandatory

DEFINITION

This field specifies the number of this message in the total sequence of messages sent to the Receiver to convey the infor-mation on the metal contracts outstanding at the date specified in field 31C.


FORMAT

16x

PRESENCE

Mandatory

DEFINITION

This field specifies the Sender’s reference to the statement.





3. Field 31C: Statement Date

FORMAT

Option C 6!n (Date)

PRESENCE

Mandatory

DEFINITION

This field specifies the date at which the contracts listed in this statement message remain outstanding.



4. Field 30: Date Prepared

FORMAT

6!n (Date)

PRESENCE

Optional

DEFINITION

This field specifies the date the statement was prepared, if different from the date the message was sent.




FORMAT

16x

PRESENCE

Mandatory

DEFINITION

This field identifies the type of contract listed in the sequence of fields 26C and 68a immediately following it.



CODES

This field must contain one of the following codes to indicate the type of contracts to be listed (Error code(s): T08):

SPOTS The following is a list of all undelivered spots as at a specified date.

FORWARDS The following is a list of all outstanding forward contracts as at a specified date.

OPTIONS The following is a list of all unexercised options as at a specified date.


FORMAT

Option C [3!a]/15x/5!a4!a[4x][//8x]

where:



2 /15x Availability

3 /5!a Allocation

4 4!a Type

5 [4x] Denomination

6 [//8x] Form

PRESENCE

Mandatory

DEFINITION

This field identifies the metal to which this statement relates.

CODES






CODES


GOLD Gold

SILV Silver

PLAT Platinum

PALL Palladium

RHOD Rhodium

RUTH Ruthenium

OSMI Osmium

IRID Iridium

CODES









GECU GOLDEN ECU 50



MAPL MAPLE 1/1 1/2 1/4 1/10



NOBL NOBLE 1/1






SECU SILVER ECU 5

STAT STATUE 20 10 5

VREN VRENELI 20 10

COIN OTHER COINS



USAGE RULES



7. Field 68a: Transaction Details

FORMAT

Option B 6!n6!n16x/1!a3!a15d3!a15d/6!n3!a15dOption C 4a/4a/1!a[6!n]3!a15d3!a15d3!a15d3!a15d

where Option B is:


1 6!n Trade Date

2 6!n Maturity Date

3 16x Contract Number

4 /1!a Indicator

5 3!a15d Unit and Quantity of Metal

6 3!a15d Currency and Price Per Unit

7 /6!n Value Date (of the Consideration)

8 3!a15d Currency and Consideration



and where Option C is:


1 4a Buy/Sell Indicator

2 /4a Call/Put indicator

3 /1!a Style Indicator

4 [6!n] Date Contract Agreed

5 3!a15d Unit and Amount of the Underlying Metal

6 3!a15d Currency and Strike Price of the metal option per unit of the underly-ing metal

7 3!a15d Currency and Premium Price per unit of the underlying metal

8 3!a15d Currency and Premium Payment of the metal option.

PRESENCE

Mandatory

DEFINITION

This field provides transaction details on undelivered SPOTS or outstanding FORWARDS (option B) or pending OPTIONS(option C) as specified in the immediately preceding field 23.

CODES

In option B, subfield 4, Indicator, one of the following codes must be used (Error code(s): T05):

B The Sender bought the metal

S The Sender sold the metal

CODES

In both options B and C, Unit specifies the unit on which the amount of metal bought or sold is based. It must contain one ofthe following codes (Error code(s): T06):

FOZ Fine ounce

GOZ Gross ounce

GRM Gramme

KLO Kilo



LOT Lot

TAL Tael

TOL Tola

UNT Unit

CODES

In option C, subfield 1, Buy/Sell Indicator, must contain one of the following codes:

BUY The Sender has bought the option

SELL The Sender has sold the option

CODES

In option C, subfield 2, Call/Put Indicator, must contain one of the following codes:

CALL The option is a call

PUT The option is a put

CODES

In option C, subfield 3, Style Indicator, must contain one of the following codes (Error code(s): T09):

A This is an American style option

E This is a European style option


In option B:

When field 23 contains SPOTS or FORWARDS, option B must be used (Error Code C1).

Subfield 1, Trade Date, subfield 2, Maturity Date and subfield 7, Value Date, must be valid dates expressed as YYMMDD(Error code(s): T50).

In subfields 5, 6 and 8, the integer part of Quantity of Metal, Price Per Unit and Consideration must contain at least onedigit. The decimal comma ’,’ is mandatory and is included in the maximum length. (Error code(s): T40, T43).

In subfield 5, Quantity of Metal, must not contain more than six digits following the decimal comma (Error code(s): C89).



In subfields 6 and 8, Currency must be a valid ISO 4217 currency code (Error code(s): T52).

In subfields 6 and 8, Currency must be the same in Price Per Unit and Consideration (Error code(s): T74).

In subfield 8, the number of decimal digits in Consideration will be validated against the maximum number allowed for the corresponding currency specified in Currency (Error code(s): C03).

In option C:

When field 23 contains OPTIONS, option C must be used (Error Code C2).

Subfield 4, Date Contract Agreed, must be a valid date expressed as YYMMDD (Error code(s): T50).

The integer part of Amount in subfields 5,6,7 and 8, the Underlying Metal, Strike Price, Premium Price Per Unit andPremium Payment must contain at least one digit. The decimal comma ’,’ is mandatory and is included in the maximumlength. (Error code(s): T40, T43).

In subfield 5, Amount of the Underlying Metal must not contain more than six digits following the decimal comma (Errorcode(s): C89).

In subfields 6, 7 and 8, Currency must be a valid ISO 4217 currency code (Error code(s): T52).

In subfields 6, 7 and 8, Currency must be the same in Strike Price, Premium Price Per Unit and Premium Payment (Errorcode(s): T74).

In Premium Payment, the number of decimal digits will be validated against the maximum number allowed for the corre-sponding currency specified in Currency (Error code(s): C03).

USAGE RULES

Contract Number specifies the reference of the contract, eg, the field 20 Transaction Reference Number of the MT 600Precious Metal Trade Confirmation.


FORMAT

6*35x (Narrative)




PRESENCE

Optional

DEFINITION




CODES






USAGE RULES





MT 690 Advice of Charges, Interest and Other Adjustments

Please refer to Category n - Common Group Messages, Chapter n90 Advice of Charges, Interest and Other Adjustments fordetails concerning this message type.



MT 691 Request for Payment of Charges, Interest and Other Expenses

Please refer to Category n - Common Group Messages, Chapter n91 Request for Payment of Charges, Interest or Other Expenses for details concerning this message type.



MT 692 Request for Cancellation

Please refer to Category n - Common Group Messages, Chapter n92 Request for Cancellation for details concerning thismessage type.



MT 695 Queries

Please refer to Category n - Common Group Messages, Chapter n95 Queries for details concerning this message type.



MT 696 Answers

Please refer to Category n - Common Group Messages, Chapter n96 Answers for details concerning this message type.



MT 698 Proprietary Message

Please refer to Category n - Common Group Messages, Chapter n98 Proprietary Message for details concerning thismessage type.



MT 699 Free Format Message

Please refer to Category n - Common Group Messages, Chapter n99 Free Format Message for details concerning thismessage type.



Table of Contents

....................... 2Legal Notices

....................... 3Overview

.................... 3Added Message Types

................... 3Removed Message Types

................... 3Modified Message Types

................ 4MT 600 Precious Metal Trade Confirmation

...................... 4MT 600 Scope

.................. 4MT 600 Format Specifications

.................. 5MT 600 Network Validated Rules

.................... 5MT 600 Usage Rules

................ 6MT 600 Field Specifications (updated)

............... 61. Field 20: Transaction Reference Number

.................. 62. Field 21: Related Reference

................ 73. Field 22: Code/Common Reference

............... 84. Field 30: Date Contract Agreed/Amended

................ 85. Field 26C: Identification of the Metal

.................. 106. Field 33G: Price Per Unit

................ 117. Field 71C: Details of Adjustments

............... 128. Field 72: Sender to Receiver Information

................. 139. Field 32F: Quantity of the Metal

.............. 1410. Field 87a: Receiver of the Metal (updated)

.................. 1511. Field 34P: Consideration

.............. 1512. Field 53a: Sender’s Correspondent (updated)

.............. 1613. Field 57a: Account With Institution (updated)

................ 1614. Field 32F: Quantity of the Metal

.............. 1715. Field 87a: Deliverer of the Metal (updated)

.................. 1816. Field 34R: Consideration


................ 20MT 601 Precious Metal Option Confirmation

...................... 20MT 601 Scope



.................... 21MT 601 Usage Rules


............... 211. Field 20: Transaction Reference Number

.................. 222. Field 21: Related Reference

................ 223. Field 22: Code/Common Reference

................. 234. Field 23: Further Identification

............... 245. Field 30: Date Contract Agreed/Amended

................ 256. Field 26C: Identification of the Metal

................. 277. Field 31C: Earliest Exercise Date

.................. 278. Field 31G: Expiry Details

............... 289. Field 32F: Unit and Amount of the Metal

................... 2810. Field 32B: Strike Price

.................. 2911. Field 33B: Premium Price

................. 2912. Field 34a: Premium Payment

.............. 3013. Field 53a: Sender’s Correspondent (updated)


............... 3115. Field 72: Sender to Receiver Information

............... 33MT 604 Precious Metal Transfer/Delivery Order

...................... 33MT 604 Scope



.................... 34MT 604 Usage Rules


.......... 341. Field 26C: Identification of the Metal and the Metal Account

............... 362. Field 25: Further Account Identification

................... 363. Field 30: Value Date

iStandards Release Guide 2003 - Final edition - February 2003

Table Of ContentsSWIFTStandards - Category 6

................ 374. Field 72: Sender to Receiver Information

................ 385. Field 20: Transaction Reference Number

................... 386. Field 21: Related Reference

.................. 397. Field 23: Further Identification

............. 398. Field 26D: Certificate Number(s) and/or Bar Number(s)

.................. 399. Field 32F: Quantity of the Metal

................. 4010. Field 82a: Instructing Party (updated)

................ 4111. Field 87a: Receiver of the Metal (updated)

............... 4112. Field 88a: Beneficiary of the Metal (updated)


.................. 44MT 605 Precious Metal Notice to Receive

....................... 44MT 605 Scope

.................... 44MT 605 Format Specifications

................... 45MT 605 Network Validated Rules

...................... 45MT 605 Usage Rules

.................. 45MT 605 Field Specifications (updated)


............ 452. Field 26C: Identification of the Metal and the Metal Account

................ 473. Field 25: Further Account Identification

..................... 484. Field 30: Value Date







................ 5111. Field 87a: Deliverer of the Metal (updated)



................... 54MT 606 Precious Metal Debit Advice

....................... 54MT 606 Scope









..................... 586. Field 30: Value Date



................ 609. Field 87a: Receiver of the Metal (updated)



.................. 63MT 607 Precious Metal Credit Advice

....................... 63MT 607 Scope









..................... 676. Field 30: Value Date



................ 699. Field 87a: Deliverer of the Metal (updated)


.................. 71MT 608 Statement of a Metal Account

....................... 71MT 608 Scope

Standards Release Guide 2003 - Final edition - February 2003ii

SWIFTStandards - Category 6Table Of Contents



...................... 72MT 608 Usage Rules

.................... 72MT 608 Field Specifications




............... 754. Field 28: Statement Number/Sequence Number

................... 755. Field 60a: Opening Balance

.................... 766. Field 61: Statement Line

................... 807. Field 62a: Closing Balance

................. 818. Field 64: Closing Available Balance

................. 829. Field 65: Forward Available Balance

................... 84MT 609 Statement of Metal Contracts

....................... 84MT 609 Scope



...................... 85MT 609 Usage Rules

.................... 85MT 609 Field Specifications

................... 851. Field 27: Sequence of Total


................... 863. Field 31C: Statement Date

.................... 864. Field 30: Date Prepared


................. 876. Field 26C: Identification of the Metal

................... 897. Field 68a: Transaction Details


.............. 94MT 690 Advice of Charges, Interest and Other Adjustments

........... 95MT 691 Request for Payment of Charges, Interest and Other Expenses

.................... 96MT 692 Request for Cancellation

....................... 97MT 695 Queries

....................... 98MT 696 Answers

..................... 99MT 698 Proprietary Message

.................... 100MT 699 Free Format Message

iiiStandards Release Guide 2003 - Final edition - February 2003

Table Of ContentsSWIFTStandards - Category 6

swiftstandards - category 6 - treasury markets...

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