Xact via SWIFT: Settlement validation rule - Unique sender’s message reference
Clearstream Banking1 informs customers that effective
21 November 2022
new settlement validation rules will be put in place to ensure that the sender’s message reference mentioned in the settlement instruction is unique. Clearstream Banking will no longer accept two settlement instructions that are either pending or failing with the same sender's message reference, as long as the instruction is “alive”. Customers will be able to reuse this sender’s message reference only once the instruction is cancelled or settled.
The sender’s message reference of a settlement instruction (MT540-543) is mentioned in field :20C::SEME of mandatory sequence A. Any sender’s message reference that is mentioned in the sender’s reference field (:20C::SEME) should be unique and cannot be used for multiple existing instructions.
From the effective date, any instruction that is sent by a customer to Clearstream Banking with a sender’s message reference that is not unique will be rejected and the customer will be informed via SWIFT MT548 of the rejection.
What is changing? Currently, the sender’s message reference mentioned in the settlement instruction should be unique for each common code. From 21 November, all sender’s message references must be unique and the common code will not be taken into account.
Further information
For further information, please contact Clearstream Banking Client Services or your Relationship Officer.
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1. Clearstream Banking refers collectively to Clearstream Banking S.A., registered office at 42, avenue John F. Kennedy, L-1855 Luxembourg, and registered with the Luxembourg Trade and Companies Register under number B-9248, and Clearstream Banking AG, registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany and registered in Register B of the Amtsgericht Frankfurt am Main, Germany under number HRB 7500.