ISO 15022 Data Field Dictionary

Note

The use of this message for investment funds is subject to restrictions - the message may only be sent or received by institutions that are members of the Funds Closed User Group.

MT502 Scope

This message is sent by an instructing party, for example, a client, or its authorised representative, to an executing party, for example, broker-dealer, or where permitted, directly by an executing party to a point of execution such as an exchange. It may be used in broker-to-broker communications.

This message is used to instruct the executing party to buy or sell a given quantity of a specified financial instrument.

It may also be used to:

  • request the cancellation of a previously sent order

  • replace a previously sent order

  • duplicate an order previously sent

  • provide a third party with a copy of the message (be it the order or a request for cancellation) being sent.

MT502 Format Specifications

Status Tag Qualifier Generic Field Name Detailed Field Name Content/Options No.

Mandatory Sequence A General Information

M

16R

 

 

Start of Block

GENL

1

M

20C

SEME

Reference

Sender's Message Reference

:4!c//16x

2

M

23G

 

 

Function of the Message

4!c[/4!c]

3

O

98a

PREP

Date/Time

Preparation Date/Time

A, C, or E

4

----->

M

22F

4!c

Indicator

(see qualifier description)

:4!c/[8c]/4!c

5

-----|

-----> Optional Repetitive Subsequence A1 Linkages

M

16R

 

 

Start of Block

LINK

6

O

22F

LINK

Indicator

Linkage Type Indicator

:4!c/[8c]/4!c

7

O

13a

LINK

Number Identification

Linked Message

A or B

8

M

20C

4!c

Reference

(see qualifier description)

:4!c//16x

9

M

16S

 

 

End of Block

LINK

10

-----| End of Subsequence A1 Linkages

M

16S

 

 

End of Block

GENL

11

End of Sequence A General Information

Mandatory Sequence B Order Details

M

16R

 

 

Start of Block

ORDRDET

12

----->

O

94a

4!c

Place

(see qualifier description)

B, C, F, or L

13

-----|

-----> Optional Repetitive Subsequence B1 Price

M

16R

 

 

Start of Block

PRIC

14

M

90a

4!c

Price

(see qualifier description)

A or B

15

----->

O

22F

4!c

Indicator

(see qualifier description)

:4!c/[8c]/4!c

16

-----|

M

16S

 

 

End of Block

PRIC

17

-----| End of Subsequence B1 Price

----->

M

22a

4!c

Indicator

(see qualifier description)

F or H

18

-----|

----->

M

98a

4!c

Date/Time

(see qualifier description)

A, B, or C

19

-----|

----->

O

92A

4!c

Rate

(see qualifier description)

:4!c//[N]15d

20

-----|

O

11A

4!c

Currency

(see qualifier description)

:4!c//3!a

21

-----> Mandatory Repetitive Subsequence B2 Trading Parties

M

16R

 

 

Start of Block

TRADPRTY

22

----->

M

95a

4!c

Party

(see qualifier description)

L, P, Q, R, or S

23

-----|

----->

O

97a

4!c

Account

(see qualifier description)

A, B, or E

24

-----|

O

98a

PROC

Date/Time

Processing Date/Time

A or C

25

O

20C

PROC

Reference

Processing Reference

:4!c//16x

26

----->

O

70a

4!c

Narrative

(see qualifier description)

C or E

27

-----|

----->

O

22F

4!c

Indicator

(see qualifier description)

:4!c/[8c]/4!c

28

-----|

M

16S

 

 

End of Block

TRADPRTY

29

-----| End of Subsequence B2 Trading Parties

----->

O

36B

4!c

Quantity of Financial Instrument

(see qualifier description)

:4!c//4!c/15d

30

-----|

----->

O

19A

4!c

Amount

(see qualifier description)

:4!c//[N]3!a15d

31

-----|

M

35B

 

 

Identification of the Financial Instrument

[ISIN1!e12!c]
[4*35x]

32

Optional Subsequence B3 Financial Instrument Attributes

M

16R

 

 

Start of Block

FIA

33

O

94B

PLIS

Place

Place of Listing

:4!c/[8c]/4!c[/30x]

34

----->

O

22F

4!c

Indicator

(see qualifier description)

:4!c/[8c]/4!c

35

-----|

----->

O

12a

4!c

Type of Financial Instrument

(see qualifier description)

A, B, or C

36

-----|

O

11A

DENO

Currency

Currency of Denomination

:4!c//3!a

37

----->

O

98A

4!c

Date/Time

(see qualifier description)

:4!c//8!n

38

-----|

----->

O

92A

4!c

Rate

(see qualifier description)

:4!c//[N]15d

39

-----|

----->

O

13a

4!c

Number Identification

(see qualifier description)

A or B

40

-----|

----->

O

17B

4!c

Flag

(see qualifier description)

:4!c//1!a

41

-----|

----->

O

90a

4!c

Price

(see qualifier description)

A or B

42

-----|

----->

O

36B

4!c

Quantity of Financial Instrument

(see qualifier description)

:4!c//4!c/15d

43

-----|

----->

O

35B

 

 

Identification of the Financial Instrument

[ISIN1!e12!c]
[4*35x]

44

-----|

O

70E

FIAN

Narrative

Financial Instrument Attribute Narrative

:4!c//10*35x

45

M

16S

 

 

End of Block

FIA

46

End of Subsequence B3 Financial Instrument Attributes

----->

O

13a

4!c

Number Identification

(see qualifier description)

A or B

47

-----|

O

70E

TPRO

Narrative

Trade Instruction Processing Narrative

:4!c//10*35x

48

M

16S

 

 

End of Block

ORDRDET

49

End of Sequence B Order Details

Optional Sequence C Settlement Details

M

16R

 

 

Start of Block

SETDET

50

----->

M

22F

4!c

Indicator

(see qualifier description)

:4!c/[8c]/4!c

51

-----|

O

11A

4!c

Currency

(see qualifier description)

:4!c//3!a

52

-----> Optional Repetitive Subsequence C1 Settlement Parties

M

16R

 

 

Start of Block

SETPRTY

53

----->

M

95a

4!c

Party

(see qualifier description)

C, L, P, Q, R, or S

54

-----|

O

97a

SAFE

Account

Safekeeping Account

A or B

55

O

98a

PROC

Date/Time

Processing Date/Time

A or C

56

O

20C

PROC

Reference

Processing Reference

:4!c//16x

57

----->

O

70a

4!c

Narrative

(see qualifier description)

C or D

58

-----|

M

16S

 

 

End of Block

SETPRTY

59

-----| End of Subsequence C1 Settlement Parties

-----> Optional Repetitive Subsequence C2 Cash Parties

M

16R

 

 

Start of Block

CSHPRTY

60

----->

M

95a

4!c

Party

(see qualifier description)

L, P, Q, R, or S

61

-----|

----->

O

97a

4!c

Account

(see qualifier description)

A or E

62

-----|

O

98a

PROC

Date/Time

Processing Date/Time

A or C

63

O

20C

PROC

Reference

Processing Reference

:4!c//16x

64

O

70C

PACO

Narrative

Party Narrative

:4!c//4*35x

65

M

16S

 

 

End of Block

CSHPRTY

66

-----| End of Subsequence C2 Cash Parties

-----> Optional Repetitive Subsequence C3 Amounts

M

16R

 

 

Start of Block

AMT

67

----->

O

17B

4!c

Flag

(see qualifier description)

:4!c//1!a

68

-----|

----->

M

19A

4!c

Amount

(see qualifier description)

:4!c//[N]3!a15d

69

-----|

O

98a

VALU

Date/Time

Value Date/Time

A or C

70

O

92B

EXCH

Rate

Exchange Rate

:4!c//3!a/3!a/15d

71

M

16S

 

 

End of Block

AMT

72

-----| End of Subsequence C3 Amounts

M

16S

 

 

End of Block

SETDET

73

End of Sequence C Settlement Details

-----> Optional Repetitive Sequence D Other Parties

M

16R

 

 

Start of Block

OTHRPRTY

74

----->

M

95a

4!c

Party

(see qualifier description)

L, P, Q, R, or S

75

-----|

----->

O

97a

4!c

Account

(see qualifier description)

A, B, or E

76

-----|

O

70C

PACO

Narrative

Party Narrative

:4!c//4*35x

77

O

20C

PROC

Reference

Processing Reference

:4!c//16x

78

M

16S

 

 

End of Block

OTHRPRTY

79

-----| End of Sequence D Other Parties

Optional Sequence E Two Leg Transaction Details

M

16R

 

 

Start of Block

REPO

80

----->

O

98a

4!c

Date/Time

(see qualifier description)

A, B, or C

81

-----|

----->

O

22F

4!c

Indicator

(see qualifier description)

:4!c/[8c]/4!c

82

-----|

----->

O

20C

4!c

Reference

(see qualifier description)

:4!c//16x

83

-----|

----->

O

92a

4!c

Rate

(see qualifier description)

A or C

84

-----|

----->

O

99B

4!c

Number Count

(see qualifier description)

:4!c//3!n

85

-----|

----->

O

19A

4!c

Amount

(see qualifier description)

:4!c//[N]3!a15d

86

-----|

O

70C

SECO

Narrative

Second Leg Narrative

:4!c//4*35x

87

M

16S

 

 

End of Block

REPO

88

End of Sequence E Two Leg Transaction Details

MT502 Network Validated Rules

  • C1 If an Exchange Rate (field :92B::EXCH) is present, the corresponding Resulting Amount (field :19A::RESU) must be present in the same subsequence. If the Exchange Rate is not present then the Resulting Amount is not allowed.

    Subsequence C3

    if field :92B::EXCH is ...

    Subsequence C3

    then field :19A::RESU is ...

    Present

    Mandatory

    Not present

    Not allowed

  • C2 If the Function of the Message (field :23G:) is CANC and the Ordered Quantity (field :36B::ORDR) is present, then the Quantity to Cancel (field :36B::CANC) must be present in the order details sequence.

    If the Function of the Message (field :23G:) is CANC and the Ordered Amount (field :19A::ORDR) is present, then the Amount to Cancel (field :19A::CANC) must be present in the order details sequence.

    If the Function of the Message is not CANC, the Quantity to Cancel and the Amount to Cancel are not allowed.

    Sequence A

    if field :23G is ...

    Sequence B and field :36B::ORDR is ...

    Sequence B then field :36B::CANC is ...

    NEWM

    Present

    Not allowed

    REPL

    Present

    Not allowed

    CANC

    Present

    Mandatory

    Sequence A if field :23G is ...

    Sequence B and field :19A::ORDR is ...

    Sequence B then field :19A::CANC is ...

    NEWM

    Present

    Not allowed

    REPL

    Present

    Not allowed

    CANC

    Present

    Mandatory

  • C3 The Type of Order Indicator (field :22F::TOOR) and/or the Price Limit (field :90a::LIMI) must be present.

    Sequence B

    if field :22F::TOOR is ...

    Then subsequence B1 is ...

    Subsequence B1 and field :90a::LIMI is ...

    Present

    Optional

    Optional

    Not present

    Mandatory

    Mandatory in at least one of the occurrences of subsequence B1

  • C4 If the message is a cancellation or a replacement, that is, Function of the Message (field 23G) is CANC or REPL, then subsequence A1 (Linkages) must be present at least once in the message, and in one and only one occurrence of A1, field :20C::PREV must be present; consequently, in all other occurrences of A1, field :20C::PREV is not allowed.

    Sequence A

    if field :23G: is ...

    Then subsequence A1 is ...

    And field :20C::PREV is ...

    CANC or REPL

    Mandatory (minimum one occurrence of A1 must be present)

    Mandatory in one occurrence of subsequence A1, and not allowed in all other occurrences of subsequence A1

    NEWM

    Optional

    Not applicable

  • C5 The following party fields for subsequences C1 and C2 cannot appear more than once in sequence C. The party fields for sequence D cannot appear more than once in a message.

    Subsequence C1

    Subsequence C2

    Sequence D

    :95a::BUYR

    :95a::ACCW

    :95a::EXCH

    :95a::DEAG

    :95a::BENM

    :95a::MEOR

    :95a::DECU

    :95a::PAYE

    :95a::MERE

    :95a::DEI1

    :95a::DEBT

    :95a::TRRE

    :95a::DEI2

    :95a::INTM

    :95a::VEND

    :95a::PSET

    :95a::TRAG

    :95a::REAG

    :95a::RECU

    :95a::REI1

    :95a::REI2

    :95a::SELL

  • C6 In sequence B, either an ordered quantity (field :36B::ORDR) or an ordered amount (field :19A::ORDR) must be present, but not both.

    Sequence B

    if field :36B::ORDR is ...

    Sequence B

    then field :19A::ORDR is ...

    Present

    Not allowed

    Not present

    Mandatory

  • C7 If a qualifier from the list Deliverers is present in a subsequence C1 in a field :95a::4!c, then all the remaining qualifiers following this qualifier in the list Deliverers (see below) must be present.

    In other words, in sequence C, the following scenarios must be validated:

    • If :95a::DEI2 is present in subsequence C1, then :95a::DEI1 must be present in another subsequence C1.

    • If :95a::DEI1 is present in subsequence C1, then :95a::DECU must be present in another subsequence C1.

    • If :95a::DECU is present in subsequence C1, then :95a::SELL must be present in another subsequence C1.

    • If :95a::SELL is present in subsequence C1, then :95a::DEAG must be present in another subsequence C1.

    If a qualifier from the list Receivers is present in a subsequence C1 in a field :95a::4!c, then all the remaining qualifiers following this qualifier in the list Receivers (see below) must be present.

    In other words, in sequence C, the following scenarios must be validated:

    • If :95a::REI2 is present in subsequence C1, then :95a::REI1 must be present in another subsequence C1.

    • If :95a::REI1 is present in subsequence C1, then :95a::RECU must be present in another subsequence C1.

    • If :95a::RECU is present in subsequence C1, then :95a::BUYR must be present in another subsequence C1.

    • If :95a::BUYR is present in subsequence C1, then :95a::REAG must be present in another subsequence C1.

    Deliverers

    Receivers

    DEI2

    Deliverer's Intermediary 2

    REI2

    Receiver's Intermediary 2

    DEI1

    Deliverer's Intermediary 1

    REI1

    Receiver's Intermediary 1

    DECU

    Deliverer's Custodian

    RECU

    Receiver's Custodian

    SELL

    Seller (Deliverer)

    BUYR

    Buyer (Receiver)

    DEAG

    Delivering Agent

    REAG

    Receiving Agent

  • C8 In subsequence C1, if field :95a::PSET is present, then field :97a::SAFE is not allowed in the same sequence.

    Subsequence C1

    if field :95a::PSET is ...

    Subsequence C1

    then field :97a::SAFE is ...

    Present

    Not allowed within the same occurrence

    Not present

    Optional

  • C9 In sequence B, if field :22H::BUSE//SWIT is present, then subsequence A1 Linkages is mandatory, and field :20C::PREV must be present in minimum one occurrence of subsequence A1 Linkages.

    Sequence B

    if field :22H::BUSE//SWIT is ...

    Then subsequence A1 is ...

    And field :20C::PREV is ...

    Present

    Mandatory, that is minimum one occurrence of A1

    Mandatory, that is must be present in minimum one occurrence of A1

    Not present

    Optional

    Not applicable

  • C10 If field :22F::DBNM//VEND is present in sequence C, then a vendor must be specified; that is one occurrence of sequence D must contain field :95a::VEND.

    If sequence C is ...

    And in sequence C

    if field :22F::DBNM//VEND is ... (1)

    Then sequence D is ...

    And in one occurrence of sequence D

    field :95a::VEND is ...

    Present

    Present

    Mandatory, that is sequence D must be present minimum once

    Mandatory

    Not present

    Optional

    Optional

    Not present

    Not applicable

    Optional

    Optional

    (1) If the Data Source Scheme is present in field :22F::DBNM//VEND then the conditional rule does not apply.
  • C11 In sequence D, if field :95a::EXCH Stock Exchange or :95a::TRRE Trade Regulator is present, then field :97a:: is not allowed in the same sequence.

    Sequence D

    if field :95a::EXCH or TRRE is ...

    Sequence D

    then field :97a:: is ...

    Present

    Not allowed within the same occurrence

    Not present

    Optional

  • C12 In sequence B, if Original Ordered Quantity (field :36B::ORDR) is present more than once then Buy/Sell Indicator (field :22H::BUSE) must be present with Indicator code FPOO or IPOO or IPPO.

    Sequence B

    if field :36B::ORDR is ...

    Sequence B

    then field :22H::BUSE ...

    Not present or present only once

    May contain any Indicator code

    Present more than once

    Indicator code must be FPOO or IPOO or IPPO

  • C13 In sequence B, field :94a::TRAD must not be present more than twice. When repeated, one and only one occurrence must be with format option L (:94L::TRAD).

    In sequence B, field :94a::SAFE must not be present more than twice. When repeated, one and only one occurrence must be with format option L (:94L::SAFE).

    In each occurrence of subsequence B2, field :95a::ALTE must not be present more than twice. When repeated, one and only one occurrence must be with format option L (:95L::ALTE).

    In each occurrence of subsequence C1, field :95a::ALTE must not be present more than twice. When repeated, one and only one occurrence must be with format option L (:95L::ALTE).

    In each occurrence of subsequence C2, field :95a::ALTE must not be present more than twice. When repeated, one and only one occurrence must be with format option L (:95L::ALTE).

    In each occurrence of sequence D, field :95a::ALTE must not be present more than twice. When repeated, one and only one occurrence must be with format option L (:95L::ALTE).

  • C14 In each occurrence of sequence D, if field :95a::ALTE is present with format option L, then field :95a::MEOR and field :95a::MERE must not be present in the same occurrence of the sequence.

MT502 Usage Rules

  • When an instruction is sent to a party other than the original Receiver, this original Receiver is identified in the other parties sequence as :95a::MERE (Recipient of the Message).

  • In cross-border, broker-to-broker trades, the place of settlement (:95a::PSET), must be present.

  • When a broker is identified as a confirming party, the party capacity (:22F::TRCA) must be specified.

  • When there is a need to pre-allocate, a master reference must be used in the linkage sequence of the MT 502. The MT 514 Trade Allocation Instruction, is used to instruct the pre-allocation. The master reference must be used in the linkage sequence of all the associated MT 514s.

  • Field 22F Indicator, with the qualifier PRCO, that is, Pre-Allocation Condition, must be used to indicate how to allocate if the block cannot be fully executed, and to convey rounding instructions in case of fractional shares.

  • Optional sequence C Settlement Details may be used to convey early information regarding settlement.

  • The Receiver of a request to cancel or replace must advise the requesting party that the request has been accepted or denied in an MT 509 Trade Status Message.

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