Settlement Confirmation. The confirmation message corresponding to the effective movements of securities (against cash) is to be sent (MT 544 for confirmation of a receive free, MT 545 for a receive versus payment, MT 546 for a delivery free and MT 547 for a delivery versus payment). - N indicator is not required as the message type and repo type indicator provide the necessary information to derive the direction of the securities and the cash. - For multiple pieces of collateral repo, confirmations are required for each piece of collateral. - The confirmation messages business data should reflect the reality of the settlement it confirmed. - Linkage to the original instruction (with qualifier RELA) is mandatory. - Settlement and Repo transaction type should be present.
Settlement Confirmation. The respective confirmation message is to be sent (MT 544 for confirmation of a MT 540, MT 545 for MT 541, MT 546 for MT 542 and MT 547 for MT 543). - N indicator is not required as the message type and repo type indicator provide the necessary information to derive the direction of the securities and the cash. - For multiple pieces of collateral repo, confirmations are required for each piece of collateral. - The confirmation messages business data should reflect the reality of the settlement it confirms. - Linkage to the repo instruction (with qualifier RELA) is mandatory. - Settlement and Repo transaction type should be present.
Settlement Confirmation. 37 4. Instruction: 38
Settlement Confirmation. The confirmation message corresponding to the effective movements of securities (against cash) is to be sent (MT 544 for confirmation of a receive free, MT 545 for a receive versus payment, MT 546 for a delivery free and MT 547 for a delivery versus payment). N indicator is not required as the message type and repo type indicator provide the necessary information to derive the direction of the securities and the cash. For multiple pieces of collateral repo, confirmations are required for each piece of collateral. The confirmation messages business data should reflect the reality of the settlement it confirmed. Linkage to the original instruction (with qualifier RELA) is mandatory. Settlement and Repo transaction type should be present. Closing of the repo/reverse repo: Instruction: The instruction will be identified as being the settlement of a repo operation by using Sequence E field 22F indicator SETR//REPU. The instruction will be identified as being the settlement of a reverse repo operation by using Sequence E field 22F indicator SETR//RVPO. The linkage subsequence A1 must be used with a PREV reference field linking to the corresponding opening leg previously sent. The repo sequence will include. The closing date (may be open) The repo deal reference (the best way to identify uniquely a repo operation, whatever is the number of messages that needs to be sent it). Repurchase amount information: If the repurchase amount is known, it must be provided in the settlement amount field. No other repurchase amount info will be provided in the repo sequence to avoid confusion with the next scenario: If the repurchase amount is to be calculated, the needed info to calculate it must be indicated in the repo sequence. The settlement amount should then carry the original opening settlement amount. When multiple pieces of collateral are concerned, the total number of collateral should also be included. In that case, the various messages needed for the repo operation will be linked using the repo reference.
Settlement Confirmation. Send an advice of collection to the payee or an advice of payment to the payer after collection or payment operation is confirmed.
