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.

MT505 Scope

This message is sent by the collateral giver or its collateral manager to the collateral taker or its collateral manager to propose the substitution of collateral held.

This message is also sent by the collateral taker or its collateral manager to the collateral giver or its collateral manager to request the substitution of collateral held.

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

MT505 Format Specifications

The substitution consists of four 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 and the contact information.

    Note

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

  • Sequence B specifies the details of both the collateral to be substituted and the new collateral. The collateral can be securities, cash or other collateral. The 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 securities collateral are the same, these details are not present in this sequence, but included once in sequence C. If the settlement details for all pieces of cash collateral are the same, these details are not present in this sequence, but included once in sequence D.

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

  • Sequence D contains the common cash settlement details, that is the settlement details of the proposed cash when they are not included in sequence B 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

COLA

Indicator

Exposure Type Indicator

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 Repetitive Sequence B Collateral Details

M

16R

 

 

Start of Block

COLD

19

M

20C

COLR

Reference

Collateral Reference

:4!c//16x

20

----->

M

22a

4!c

Indicator

(see qualifier description)

F or H

21

-----|

O

98A

SETT

Date/Time

Settlement/Delivery Date

:4!c//8!n

22

Optional Subsequence B1 Securities Collateral Details

M

16R

 

 

Start of Block

SCOL

23

M

35B

 

 

Identification of the Financial Instrument

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

24

M

36B

COLL

Quantity of Financial Instrument

Quantity of Securities Collateral

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

25

O

17B

OWNF

Flag

Ownership Flag

:4!c//1!a

26

Optional Subsequence B1a Settlement Details

M

16R

 

 

Start of Block

SETDET

27

----->

M

22a

4!c

Indicator

(see qualifier description)

F or H

28

-----|

-----> Optional Repetitive Subsequence B1a1 Settlement Parties

M

16R

 

 

Start of Block

SETPRTY

29

----->

M

95a

4!c

Party

(see qualifier description)

C, P, Q, R, or S

30

-----|

O

97a

SAFE

Account

Safekeeping Account

A or B

31

O

70C

PACO

Narrative

Party Narrative

:4!c//4*35x

32

M

16S

 

 

End of Block

SETPRTY

33

-----| End of Subsequence B1a1 Settlement Parties

M

16S

 

 

End of Block

SETDET

34

End of Subsequence B1a Settlement Details

M

16S

 

 

End of Block

SCOL

35

End of Subsequence B1 Securities Collateral Details

Optional Subsequence B2 Cash Collateral Details

M

16R

 

 

Start of Block

CCOL

36

M

19B

DEPO

Amount

Deposit Amount

:4!c//3!a15d

37

M

22H

DEPO

Indicator

Type of Deposit Indicator

:4!c//4!c

38

O

98A

TERM

Date/Time

Maturity Date

:4!c//8!n

39

Optional Subsequence B2a Cash Settlement Details

M

16R

 

 

Start of Block

CASHSET

40

O

22F

STCO

Indicator

Settlement Transaction Condition Indicator

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

41

-----> Optional Repetitive Subsequence B2a1 Cash Parties

M

16R

 

 

Start of Block

CSHPRTY

42

----->

M

95a

4!c

Party

(see qualifier description)

P, Q, R, or S

43

-----|

----->

O

97a

4!c

Account

(see qualifier description)

A or E

44

-----|

O

70C

PACO

Narrative

Party Narrative

:4!c//4*35x

45

M

16S

 

 

End of Block

CSHPRTY

46

-----| End of Subsequence B2a1 Cash Parties

M

16S

 

 

End of Block

CASHSET

47

End of Subsequence B2a Cash Settlement Details

M

16S

 

 

End of Block

CCOL

48

End of Subsequence B2 Cash Collateral Details

Optional Subsequence B3 Other Collateral Details

M

16R

 

 

Start of Block

BCOL

49

M

22H

BCOL

Indicator

Type of Other Collateral Indicator

:4!c//4!c

50

----->

M

98a

4!c

Date/Time

(see qualifier description)

A or B

51

-----|

M

95a

ISSU

Party

Issuer

P, Q, or R

52

M

19B

4!c

Amount

(see qualifier description)

:4!c//3!a15d

53

M

16S

 

 

End of Block

BCOL

54

End of Subsequence B3 Other Collateral Details

M

16S

 

 

End of Block

COLD

55

-----| End of Sequence B Collateral Details

Optional Sequence C Settlement Details

M

16R

 

 

Start of Block

SETDET1

56

----->

M

22a

4!c

Indicator

(see qualifier description)

F or H

57

-----|

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

M

16R

 

 

Start of Block

SETPRTY1

58

----->

M

95a

4!c

Party

(see qualifier description)

C, P, Q, R, or S

59

-----|

O

97a

SAFE

Account

Safekeeping Account

A or B

60

O

70C

PACO

Narrative

Party Narrative

:4!c//4*35x

61

M

16S

 

 

End of Block

SETPRTY1

62

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

M

16S

 

 

End of Block

SETDET1

63

End of Sequence C Settlement Details

Optional Sequence D Cash Settlement Details

M

16R

 

 

Start of Block

CASHSET1

64

O

22F

STCO

Indicator

Settlement Transaction Condition Indicator

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

65

-----> Optional Repetitive Subsequence D1 Cash Parties

M

16R

 

 

Start of Block

CSHPRTY1

66

----->

M

95a

4!c

Party

(see qualifier description)

P, Q, R, or S

67

-----|

----->

O

97a

4!c

Account

(see qualifier description)

A or E

68

-----|

O

70C

PACO

Narrative

Party Narrative

:4!c//4*35x

69

M

16S

 

 

End of Block

CSHPRTY1

70

-----| End of Subsequence D1 Cash Parties

M

16S

 

 

End of Block

CASHSET1

71

End of Sequence D Cash Settlement Details

Optional Sequence E Additional Information

M

16R

 

 

Start of Block

ADDINFO

72

----->

O

95a

4!c

Party

(see qualifier description)

P, Q, or R

73

-----|

M

16S

 

 

End of Block

ADDINFO

74

End of Sequence E Additional Information

MT505 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 each occurrence of sequence B, the presence of subsequences B1, B2 and B3 depends on the value of field :22H::COLL//<Indicator> as follows.

    In each occurrence of sequence B

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

    In the same occurrence of sequence B

    then subsequence B1 is ...

    In the same occurrence of sequence B

    and subsequence B2 is ...

    In the same occurrence of sequence B

    and subsequence B3 is ...

    BCOL

    Not allowed

    Not allowed

    Mandatory

    CCOL

    Not allowed

    Mandatory

    Not allowed

    SCOL

    Mandatory

    Not allowed

    Not allowed

  • C4 In each occurrence of subsequence B2, the presence of field :98A::TERM depends on the value of field :22H::DEPO//<Indicator> as follows:

    In each occurrence of subsequence B2

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

    In the same occurrence of subsequence B2

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

    FIXT

    Mandatory

    CLNT

    Not allowed

  • C5 In each occurrence of subsequence B3, 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 B3

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

    In the same occurrence of subsequence B3

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

    Present

    Not allowed

    Not present

    Optional

  • C6 Sequence C is mandatory when in any occurrence of sequence B the subsequence B1 is present and the subsequence B1a is not present.

    In sequence(s) B

    Then sequence C is ...

    If in one (or more) occurrence(s) of sequence B:

    • subsequence B1 is present and

    • an internal subsequence B1a is not present

    Mandatory

  • C7 Sequence C is not allowed when for all occurrences of sequence B either the subsequence B1 is not present, or B1a is present in all occurrences of B1.

    If sequence C is ...

    Then in sequence(s) B

    Present

    In one (or more) occurrence(s) of sequence B:

    • subsequence B1 must be present and

    • an internal subsequence B1a must not be present

  • C8 Sequence D is mandatory when in any occurrence of sequence B the subsequence B2 is present and the subsequence B2a is not present.

    In sequence(s) B

    Then sequence D is ...

    If in one (or more) occurrence(s) of sequence B:

    • subsequence B2 is present and

    • an internal subsequence B2a is not present

    Mandatory

  • C9 Sequence D is not allowed when for all occurrences of sequence B either the subsequence B2 is not present, or B2a is present in all occurrences of B2.

    In sequence(s) D

    Then sequence B is ...

    Present

    In one (or more) occurrence(s) of sequence B:

    subsequence B2 must be present and an internal subsequence B2a must not be present

  • C10 In each occurrence of sequence B, for subsequences B1a1 and B2a1 the following party fields cannot appear more than once:

    Subsequence B1a1

    Subsequence B2a1

    :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 C and D, for subsequences C1 and D1 the following party fields cannot appear more than once:

    Subsequence C1

    Subsequence D1

    :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

  • C11 In each occurrence of sequence B, if a qualifier from the list Deliverers is present in one occurrence of subsequence B1a1 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 B1a1 of the same occurrence of sequence B..

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

    • If :95a::DEI2 is present in subsequence B1a1, then :95a::DEI1 must be present in another subsequence B1a1.

    • If :95a::DEI1 is present in subsequence B1a1, then :95a::DECU must be present in another subsequence B1a1.

    • If :95a::DECU is present in subsequence B1a1, then :95a::SELL must be present in another subsequence B1a1.

    In each occurrence of sequence B, if a qualifier from the list Receivers is present in one occurrence of subsequence B1a1 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 B1a1 of the same occurrence of sequence B.

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

    • If :95a::REI2 is present in subsequence B1a1, then :95a::REI1 must be present in another subsequence B1a1.

    • If :95a::REI1 is present in subsequence B1a1, then :95a::RECU must be present in another subsequence B1a1.

    • If :95a::RECU is present in subsequence B1a1, then :95a::BUYR must be present in another subsequence B1a1.

    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 C, if a qualifier from the list Deliverers is present in one occurrence of 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 subsequences C1.

    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.

    In sequence C, if a qualifier from the list Receivers is present in one occurrence of 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 subsequences C1.

    In other words, in each 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.

    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)

  • C12 In each occurrence of subsequence B1a, the presence of subsequence B1a1 depends on the presence of field :22F::STCO//NSSP as follows:

    In each occurrence of subsequence B1a

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

    In the same occurrence of subsequence B1a

    then subsequence B1a1 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.
  • C13 In each occurrence of subsequence B2a, the presence of subsequence B2a1 depends on the presence of field :22F::STCO//NSSP as follows:

    In each occurrence of subsequence B2a

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

    In the same occurrence of subsequence B2a

    then subsequence B2a1 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.
  • C14 In sequence C, the presence of the subsequence C1 depends on the presence of field :22F::STCO//NSSP as follows:

    Sequence C

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

    Then subsequence C1 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 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.
  • C16 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

  • C17 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).

MT505 Usage Rules

  • The substitution of collateral can be done with one message: a substitution message contains both the collateral to be taken out from the collateral held and the proposed new collateral.

  • The substitution can also be done in two steps: a first message is sent with only the details of the collateral to be pulled out and a second message is sent afterwards with the proposed new collateral. This is done when the giver wants to substitute collateral but doesn't know what collateral he will use at the moment of sending the first message.

  • When the taker requests the substitution, he will usually send a message containing only the collateral to be pulled out. The giver will then send a substitution message with the proposed new collateral.

  • 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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