Singapore: Mandatory use of fields :94B: and :22F: in equities instructions

10.11.2014

Effective

17 November 2014

the following two SWIFT fields for equities instructions will become mandatory in Clearstream Banking1 on all MT540 (Receive Free), MT541 (Receive against Payment), MT542 (Deliver Free) and MT543 (Deliver against Payment) instructions:

  • field :94B: (Place of Trade);
  • field :22F: (Type of Settlement Transaction).

and in the equivalent fields in CreationOnline Securities Instructions.

This is to facilitate the reporting of both pieces of information to the Singapore Exchange (SGX) in order to comply with their requirement that equity transactions are reported as ”on-exchange” or ”off-exchange”. You may also refer to our earlier announcement L14060 of 21 May 2014.

Field :94B: Place of Trade

The options available are as follows:

SWIFTCreationOnline
:94B::TRAD/EXCH/XSES (Singapore Exchange)Place of trade: Singapore Exchange 2
:94B::TRAD//EXCH/XLON (London Stock Exchange)Place of trade: London Stock Exchange
:94B::TRAD//OTCO (Off-exchange)Place of trade: Off exchange

2. If the Place of trade is Singapore Exchange, please use Custody at CDP.

When :94B: is declared as off-exchange, you must also declare field :22F: Type of Settlement Transaction.

Field :22F: Type of Settlement Transaction

Field :22F: specifies the type of settlement transaction to allow for transfers to be executed within Pre-Settlement Matching Service (PSMS). The types of transfers available for direct declaration into field :22F: and Type of Settlement Transaction are the following:

SWIFTCreationOnlineType of Settlement Transaction
:22F::SETR/COLICOLI

Collateral In or Margin In

:22F::SETR/COLOCOLO

Collateral Out or Margin Out

:22F::SETR/CONVCONV

ADR Conversion

:22F::SETR/ETFTETFTExchange Traded Funds
:22F::SETR/ISSUISSU

Issuance

:22F::SETR/OWNIOWNIInternal Account Transfer (NCBO transfer)
:22F::SETR/PLACPLACPlacement
:22F::SETR/SECBSECBSecurities Borrowing
:22F::SETR/SECLSECLSecurities Lending
:22F::SETR/TRADTRADTrade

Manual declaration of transfer type: Joint account transfer “JONT”

Joint account transfer declaration will not be available as an option in field :22F: (SWIFT) nor Type of Settlement transaction (CreationOnline). Customers who need to declare a joint account transfer will be required to input the declaration in field :70E: or the Settlement Processing Narrative as follows:

  • SWIFT :70E::SPRO//JONT (Joint Account Transfer)
  • CreationOnline Settlement Processing Narrative Joint account transfer

Current use of field :70E: for off-exchange manual declaration to cease

Currently, we require your declaration of off-exchange trade instructions on equities to be made in field :70E:, see our announcement L14060 of 21 May 2014.  From 17 November 2014, the following declarations in :70E: or the Settlement Processing Narrative are no longer required:

  • SWIFT :70E::SPRO//OFF EXCHANGE TRADE
  • CreationOnline Settlement Processing Narrative OFF EXCHANGE TRADE

Note: SGX’s random audit checks on the trades will continue; therefore it is very important to ensure accurate declarations.

Further information

For further information about our products and services, please visit www.clearstream.com or contact Clearstream Banking Client Services or your Relationship Officer.

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1. Clearstream Banking refers collectively to 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 (CBF), and 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 (CBL).