ISO 15022 Data Field Dictionary

Note

The use of this message type requires Message User Group (MUG) registration.

Important!

The user header of the message (block 3) is mandatory and must contain a code in the Validation Flag field 119 ( {3:{119:xxxx}} ) to identify the exposure type or collateral reason.

These codes may be used for routing purposes.

MT504 Scope

This message is sent by the collateral giver or its collateral manager to the collateral taker or its collateral manager to:

  • propose new collateral at the initiation of an exposure

  • propose additional collateral at variation of exposure

This message may or may not be sent as an answer to a collateral claim.

This message is also used by the giver to request the cancellation of a previously sent collateral proposal.

This message must not be used to initiate a substitution.

The message may also be used to:

  • re-send a message previously sent (Subfunction of the message is DUPL)

  • provide a third party with a copy of the message for information (Subfunction of the message is COPY)

  • re-send to a third party a copy of the message for information (Subfunction of the message is CODU).

MT504 Format Specifications

The collateral proposal consists of five sequences:

  • Sequence A General Information provides general information about the message and the collateral transaction, that is, the function of the message, the identification of the collateral transaction, the references of the linked messages, the identification of the underlying agreement(s), the identification of the parties, the reason for which collateral is needed (the exposure type), the identification of the collateral action and the contact information.

    Note

    More than one occurrence of the agreement is only authorised for cross-product collateralisation and when no overall master agreement is in place yet.

  • Sequence B Summary provides information related to the collateral position, that is, the identification of the exposed party, the total exposure amount, the total collateral amount held by the taker, the value of collateral to be added to or to be returned from the collateral held. The sequence contains an optional subsequence with the amounts taken into account to calculate the collateral position. These amounts are required for certain types of exposures. This subsequence also contains the valuation dates and the requested settlement date of the collateral.

  • Sequence C specifies the details of the proposed collateral. The collateral can be securities, cash or other collateral. Other collateral indicates trade instruments, that is, documentary credits and bank guarantees. This sequence may also contain the settlement details for a piece of security or cash collateral. If the settlement details for all pieces of proposed securities collateral are the same, these details are not present in this sequence, but included once in sequence D. If the settlement details for all pieces of proposed cash collateral are the same, these details are not present in this sequence, but included once in sequence E.

  • Sequence D contains the common securities settlement details, that is, the settlement details of the proposed securities when they are not included in sequence C at the level of the individual piece of collateral.

  • Sequence E contains the common cash settlement details, that is, the settlement details of the proposed cash when they are not included in sequence C at the level of the individual piece of collateral.

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

4!c

Reference

(see qualifier description)

:4!c//16x

2

-----|

M

23G

 

 

Function of the Message

4!c[/4!c]

3

-----> Mandatory Repetitive Subsequence A1 Agreement

M

16R

 

 

Start of Block

AGRE

4

O

22F

AGRE

Indicator

Agreement Indicator

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

5

O

98A

AGRE

Date/Time

Agreement Date

:4!c//8!n

6

O

13B

AGRE

Number Identification

Agreement Version Number

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

7

O

70C

AGRE

Narrative

Agreement Narrative

:4!c//4*35x

8

M

16S

 

 

End of Block

AGRE

9

-----| End of Subsequence A1 Agreement

O

98a

PREP

Date/Time

Preparation Date/Time

A, C, or E

10

----->

M

22a

4!c

Indicator

(see qualifier description)

F or H

11

-----|

----->

M

95a

4!c

Party

(see qualifier description)

P, Q, or R

12

-----|

O

70C

PACO

Narrative

Party Narrative

:4!c//4*35x

13

-----> Optional Repetitive Subsequence A2 Linkages

M

16R

 

 

Start of Block

LINK

14

O

13a

LINK

Number Identification

Linked Message

A or B

15

M

20C

4!c

Reference

(see qualifier description)

:4!c//16x

16

M

16S

 

 

End of Block

LINK

17

-----| End of Subsequence A2 Linkages

M

16S

 

 

End of Block

GENL

18

End of Sequence A General Information

Mandatory Sequence B Summary

M

16R

 

 

Start of Block

SUMM

19

M

95a

EXPP

Party

Exposed Party

P, Q, or R

20

----->

M

19B

4!c

Amount

(see qualifier description)

:4!c//3!a15d

21

-----|

Optional Subsequence B1 Summary Details

M

16R

 

 

Start of Block

SUMD

22

----->

O

19B

4!c

Amount

(see qualifier description)

:4!c//3!a15d

23

-----|

----->

O

98a

4!c

Date/Time

(see qualifier description)

A or C

24

-----|

M

16S

 

 

End of Block

SUMD

25

End of Subsequence B1 Summary Details

M

16S

 

 

End of Block

SUMM

26

End of Sequence B Summary

-----> Mandatory Repetitive Sequence C Collateral Details

M

16R

 

 

Start of Block

COLD

27

M

20C

COLR

Reference

Collateral Reference

:4!c//16x

28

----->

M

22a

4!c

Indicator

(see qualifier description)

F or H

29

-----|

O

98A

SETT

Date/Time

Settlement/Delivery Date

:4!c//8!n

30

Optional Subsequence C1 Securities Collateral Details

M

16R

 

 

Start of Block

SCOL

31

M

35B

 

 

Identification of Financial Instrument

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

32

M

36B

COLL

Quantity of Financial Instrument

Quantity of Securities Collateral

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

33

O

17B

OWNF

Flag

Ownership Flag

:4!c//1!a

34

Optional Subsequence C1a Settlement Details

M

16R

 

 

Start of Block

SETDET

35

----->

M

22a

4!c

Indicator

(see qualifier description)

F or H

36

-----|

-----> Optional Repetitive Subsequence C1a1 Settlement Parties

M

16R

 

 

Start of Block

SETPRTY

37

----->

M

95a

4!c

Party

(see qualifier description)

C, P, Q, R, or S

38

-----|

O

97a

SAFE

Account

Safekeeping Account

A or B

39

O

70C

PACO

Narrative

Party Narrative

:4!c//4*35x

40

M

16S

 

 

End of Block

SETPRTY

41

-----| End of Subsequence C1a1 Settlement Parties

M

16S

 

 

End of Block

SETDET

42

End of Subsequence C1a Settlement Details

M

16S

 

 

End of Block

SCOL

43

End of Subsequence C1 Securities Collateral Details

Optional Subsequence C2 Cash Collateral Details

M

16R

 

 

Start of Block

CCOL

44

M

19B

DEPO

Amount

Deposit Amount

:4!c//3!a15d

45

M

22H

DEPO

Indicator

Type of Deposit Indicator

:4!c//4!c

46

O

98A

TERM

Date/Time

Maturity Date

:4!c//8!n

47

Optional Subsequence C2a Cash Settlement Details

M

16R

 

 

Start of Block

CASHSET

48

O

22F

STCO

Indicator

Settlement Transaction Condition Indicator

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

49

-----> Optional Repetitive Subsequence C2a1 Cash Parties

M

16R

 

 

Start of Block

CSHPRTY

50

----->

M

95a

4!c

Party

(see qualifier description)

P, Q, R, or S

51

-----|

----->

O

97a

4!c

Account

(see qualifier description)

A or E

52

-----|

O

70C

PACO

Narrative

Party Narrative

:4!c//4*35x

53

M

16S

 

 

End of Block

CSHPRTY

54

-----| End of Subsequence C2a1 Cash Parties

M

16S

 

 

End of Block

CASHSET

55

End of Subsequence C2a Cash Settlement Details

M

16S

 

 

End of Block

CCOL

56

End of Subsequence C2 Cash Collateral Details

Optional Subsequence C3 Other Collateral Details

M

16R

 

 

Start of Block

BCOL

57

M

22H

BCOL

Indicator

Type of Other Collateral Indicator

:4!c//4!c

58

----->

M

98a

4!c

Date/Time

(see qualifier description)

A or B

59

-----|

M

95a

ISSU

Party

Issuer

P, Q, or R

60

M

19B

4!c

Amount

(see qualifier description)

:4!c//3!a15d

61

M

16S

 

 

End of Block

BCOL

62

End of Subsequence C3 Other Collateral Details

M

16S

 

 

End of Block

COLD

63

-----| End of Sequence C Collateral Details

Optional Sequence D Settlement Details

M

16R

 

 

Start of Block

SETDET1

64

----->

M

22a

4!c

Indicator

(see qualifier description)

F or H

65

-----|

-----> Optional Repetitive Subsequence D1 Settlement Parties

M

16R

 

 

Start of Block

SETPRTY1

66

----->

M

95a

4!c

Party

(see qualifier description)

C, P, Q, R, or S

67

-----|

O

97a

SAFE

Account

Safekeeping Account

A or B

68

O

70C

PACO

Narrative

Party Narrative

:4!c//4*35x

69

M

16S

 

 

End of Block

SETPRTY1

70

-----| End of Subsequence D1 Settlement Parties

M

16S

 

 

End of Block

SETDET1

71

End of Sequence D Settlement Details

Optional Sequence E Cash Settlement Details

M

16R

 

 

Start of Block

CASHSET1

72

O

22F

STCO

Indicator

Settlement Transaction Condition Indicator

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

73

-----> Optional Repetitive Subsequence E1 Cash Parties

M

16R

 

 

Start of Block

CSHPRTY1

74

----->

M

95a

4!c

Party

(see qualifier description)

P, Q, R, or S

75

-----|

----->

O

97a

4!c

Account

(see qualifier description)

A or E

76

-----|

O

70C

PACO

Narrative

Party Narrative

:4!c//4*35x

77

M

16S

 

 

End of Block

CSHPRTY1

78

-----| End of Subsequence E1 Cash Parties

M

16S

 

 

End of Block

CASHSET1

79

End of Sequence E Cash Settlement Details

Optional Sequence F Additional Information

M

16R

 

 

Start of Block

ADDINFO

80

----->

O

95a

4!c

Party

(see qualifier description)

P, Q, or R

81

-----|

M

16S

 

 

End of Block

ADDINFO

82

End of Sequence F Additional Information

MT504 Network Validated Rules

  • C1 If the message is a cancellation, that is, Function of the Message (field 23G) is CANC, then subsequence A2 (Linkages) must be present at least once in the message, and in one and only one occurrence of A2, field :20C::PREV must be present; consequently, in all other occurrences of A2, field :20C::PREV is not allowed.

    Sequence A

    if field :23G: is ...

    Then subsequence A2 is ...

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

    CANC

    Mandatory (minimum one occurrence of A2 must be present)

    Mandatory in one occurrence of subsequence A2, and not allowed in all other occurrences of subsequence A2

    NEWM

    Optional

    Not applicable

  • C2 In sequence A, if field :20C::SCTR is not present, then field :20C::RCTR is mandatory, otherwise field :20C::RCTR is optional.

    Sequence A

    if field :20C::SCTR is ...

    Sequence A

    then field :20C::RCTR is ...

    Not present

    Mandatory

    Present

    Optional

  • C3 In sequence B, if field :19B::TEXA is not present, then field :19B::TCRL is mandatory, otherwise field :19B::TCRL is optional.

    Sequence B

    if field :19B::TEXA is ...

    Sequence B

    then field :19B::TCRL is ...

    Not present

    Mandatory

    Present

    Optional

  • C4 In each occurrence of sequence C, the presence of subsequences C1, C2 and C3 depends on the value of field :22H::COLL//<Indicator> as follows:

    In each occurrence of sequence C

    if field :22H::COLL//4!c is ...

    In the same occurrence of sequence C

    then subsequence C1 is ...

    In the same occurrence of sequence C

    and subsequence C2 is ...

    In the same occurrence of sequence C

    and subsequence C3 is ...

    BCOL

    Not allowed

    Not allowed

    Mandatory

    CCOL

    Not allowed

    Mandatory

    Not allowed

    SCOL

    Mandatory

    Not allowed

    Not allowed

  • C5 In each occurrence of subsequence C2, the presence of field :98A::TERM depends on the value of field :22H::DEPO//<Indicator> as follows:

    In each occurrence of subsequence C2

    if field :22H::DEPO//4!c is ...

    In the same occurrence of subsequence C2

    then field :98A::TERM is ...

    FIXT

    Mandatory

    CLNT

    Not allowed

  • C6 In each occurrence of subsequence C3, if field :22H::BCOL//LCOL is present, then field :98B::EXPI//OPEN (that is, Qualifier = EXPI, Data Source Scheme not present and Date Code = OPEN) is not allowed, otherwise field :98B::EXPI//OPEN is optional.

    In each occurrence of subsequence C3

    if field :22H::BCOL//LCOL is ...

    In the same occurrence of subsequence C3

    then field :98B::EXPI//OPEN is ...

    Present

    Not allowed

    Not present

    Optional

  • C7 Sequence D is mandatory when in any occurrence of sequence C the subsequence C1 is present and the subsequence C1a is not present.

    In sequence(s) C

    Then sequence D is ...

    If in one (or more) occurrence(s) of sequence C: subsequence C1 is present and an internal subsequence C1a is not present

    Mandatory

  • C8 Sequence D is not allowed when for all occurrences of sequence C either the subsequence C1 is not present, or C1a is present in all occurrences of C1.

    If sequence D is ...

    Then in sequence(s) C

    Present

    In one (or more) occurrence(s) of sequence C: subsequence C1 must be present and an internal subsequence C1a must not be present

  • C9 Sequence E is mandatory when in any occurrence of sequence C the subsequence C2 is present and the subsequence C2a is not present.

    In sequence(s) C

    Then sequence E is ...

    If in one (or more) occurrence(s) of sequence C:subsequence C2 is present and an internal subsequence C2a is not present

    Mandatory

  • C10 Sequence E is not allowed when for all occurrences of sequence C either the subsequence C2 is not present, or C2a is present in all occurrences of C2.

    If sequence E is ...

    Then in sequence(s) C

    Present

    In one (or more) occurrence(s) of sequence C:subsequence C2 must be present and an internal subsequence C2a must not be present

  • C11 In each occurrence of sequence C, for subsequences C1a1 and C2a1, the following party fields cannot appear more than once.

    Subsequence C1a1

    Subsequence C2a1

    :95a::BUYR

    :95a::ACCW

    :95a::DEAG

    :95a::BENM

    :95a::DECU

    :95a::PAYE

    :95a::DEI1

    :95a::DEBT

    :95a::DEI2

    :95a::INTM

    :95a::PSET

    :95a::REAG

    :95a::RECU

    :95a::REI1

    :95a::REI2

    :95a::SELL

    In sequences D and E, for subsequences D1 and E1, the following party fields cannot appear more than once:

    Subsequence D1

    Subsequence E1

    :95a::BUYR

    :95a::ACCW

    :95a::DEAG

    :95a::BENM

    :95a::DECU

    :95a::PAYE

    :95a::DEI1

    :95a::DEBT

    :95a::DEI2

    :95a::INTM

    :95a::PSET

    :95a::REAG

    :95a::RECU

    :95a::REI1

    :95a::REI2

    :95a::SELL

  • C12 It is mandatory to specify a Delivering Agent for the Securities Settlement Parties (subsequences C1a1 and D1):

    • In each occurrence of sequence C, if subsequence C1a1 Securities Settlement Parties is present, then field :95a::DEAG must be present in one and only one occurrence of subsequence C1a1 within the same occurrence of sequence C.

    • In sequence D (if present), if subsequence D1 Securities Settlement Parties is present, then field :95a::DEAG must be present in one and only one occurrence of subsequence D1.

    Note

    See also Network Validated Rule C11.

  • C13 In each occurrence of sequence C, if a qualifier from the list Deliverers is present in one occurrence of subsequence C1a1 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 subsequences C1a1 of the same occurrence of sequence C.

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

    • If :95a::DEI2 is present in subsequence C1a1, then :95a::DEI1 must be present in another subsequence C1a1.

    • If :95a::DEI1 is present in subsequence C1a1, then :95a::DECU must be present in another subsequence C1a1.

    • If :95a::DECU is present in subsequence C1a1, then :95a::SELL must be present in another subsequence C1a1.

    In each occurrence of sequence C, if a qualifier from the list Receivers is present in one occurrence of subsequence C1a1 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 subsequences C1a1 of the same occurrence of sequence C.

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

    • If :95a::REI2 is present in subsequence C1a1, then :95a::REI1 must be present in another subsequence C1a1.

    • If :95a::REI1 is present in subsequence C1a1, then :95a::RECU must be present in another subsequence C1a1.

    • If :95a::RECU is present in subsequence C1a1, then :95a::BUYR must be present in another subsequence C1a1.

    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)

    In sequence D, if a qualifier from the list Deliverers is present in one occurrence of subsequence D1 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 subsequences D1.

    • If :95a::DEI2 is present in subsequence D1, then :95a::DEI1 must be present in another subsequence D1.

    • If :95a::DEI1 is present in subsequence D1, then :95a::DECU must be present in another subsequence D1.

    • If :95a::DECU is present in subsequence D1, then :95a::SELL must be present in another subsequence D1.

    In sequence D, if a qualifier from the list Receivers is present in one occurrence of subsequence D1 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 subsequences D1.

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

    • If :95a::REI2 is present in subsequence D1, then :95a::REI1 must be present in another subsequence D1.

    • If :95a::REI1 is present in subsequence D1, then :95a::RECU must be present in another subsequence D1.

    • If :95a::RECU is present in subsequence D1, then :95a::BUYR must be present in another subsequence D1.

    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)

  • C14 In each occurrence of subsequence C1a, the presence of subsequence C1a1 depends on the presence of field :22F::STCO//NSSP as follows:

    In each occurrence of subsequence C1a

    if field :22F::STCO//NSSP is ... (1)

    In the same occurrence of subsequence C1a

    then subsequence C1a1 is ...

    Not present

    Optional

    Present

    Mandatory

    (1) if the Data Source Scheme is present in field :22F::STCO//NSSP then the conditional rule does not apply.
  • C15 In each occurrence of subsequence C2a, the presence of subsequence C2a1 depends on the presence of field :22F::STCO//NSSP as follows:

    In each occurrence of subsequence C2a

    if field :22F::STCO//NSSP is ... (1)

    In the same occurrence of subsequence C2a

    then subsequence C2a1 is ...

    Not present

    Optional

    Present

    Mandatory

    (1) if the Data Source Scheme is present in field :22F::STCO//NSSP then the conditional rule does not apply.
  • C16 In sequence D, the presence of the subsequence D1 depends on presence of field :22F::STCO//NSSP as follows:

    Sequence D

    if field :22F::STCO//NSSP is ... (1)

    Then subsequence D1 is ...

    Not present

    Optional

    Present

    Mandatory

    (1) if the Data Source Scheme is present in field :22F::STCO//NSSP then the conditional rule does not apply.
  • C17 In sequence E, the presence of the subsequence E1 depends on presence of field :22F::STCO//NSSP as follows:

    Sequence E

    if field :22F::STCO//NSSP is ... (1)

    Then subsequence E1 is ...

    Not present

    Optional

    Present

    Mandatory

    (1) if the Data Source Scheme is present in field :22F::STCO//NSSP then the conditional rule does not apply.
  • C18 In each occurrence of subsequence A1, if field :22F::AGRE is not present, then field :70C::AGRE is mandatory, otherwise field :70C::AGRE is optional.

    In each occurrence of subsequence A1

    if field :22F::AGRE is

    In the same occurrence of subsequence A1

    then field :70C::AGRE is ...

    Not present

    Mandatory

    Present

    Optional

  • C19 In subsequence B1, fields 16R and 16S may not be the only fields present. If both fields 16R and 16S are present, then at least one of the other fields of the same subsequence must be present.

  • C20 The user header of the message (block 3) is mandatory and must contain a valid code in the Validation Flag field 119 ( {3:{119:xxxx}} ). This code must be identical to the code contained in field :22a::COLA//xxxx (Exposure Type Indicator) in sequence A of the message content (text block 4).

MT504 Usage Rules

The exchange of information related to the trade itself as well as to the settlement of the collateral is done with the existing confirmation and settlement messages of the relevant categories (categories 2, 3, 5, 7, 9).

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