Common use of Settlement Confirmation Clause in Contracts

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. ‌ - 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.