Common use of Settlement Confirmation Clause in Contracts

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 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 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.