The SWIFT OTD Library Object Type Definitions (OTDs) contain specialized OTDs that allow you to automate the following funds operations:
Orders to buy and sell
Client confirmations
Checking order status
Statement of holdings, for fund balances reconciliation
In the past, many funds industry players have asked SWIFT to help automate these operations by providing standards and connectivity between funds distributors, transfer agents, funds management companies, and other intermediaries like funds processing hubs. To meet these needs, SWIFT has developed standards and message templates based on these standards.
The SWIFT OTD Library contains the following FIN-based MT Fund OTDs (see Table 13) specialized for the associated SWIFT message types and fund operations:
Table 13 FIN-based Funds OTDs
OTD Name |
Base |
Description |
---|---|---|
mt_502_FUNDS |
FIN |
Order to buy and sell: for funds subscription, redemption, switch, and cancellation. |
mt_509_FUNDS |
FIN |
Order status: for status update on orders (for example, a rejection or acknowledgement of a receipt). |
mt_515_FUNDS |
FIN |
Client confirmation: for confirmation of the funds subscription, redemption, switch and cancellation. |
mt_535_FUNDS |
FIN |
Statement of holdings: for funds balance reconciliation. |
mt_574_IRSLST |
FIN |
IRS 1441 NRA: IRS Beneficial Owners’ List |
mt_574_W8BENO |
FIN |
IRS 1441 NRA): Form W8-BEN |
These MT Fund OTDs apply to the funds message types in the ISO 15022 FIN Standard. The Category 5 directory contains the SWIFT MT Funds message OTDs.