8.2.1 Generate Payment Messages

Payment messages are generated by the External Payment System when a payment is made to a counterparty at the time of contract:

• Take-down
• Amendment
• Interest payment
• Liquidation

Configure payment messages to suit the medium of communication. Configure payment messages to suit the SWIFT, TELEX and the Mail mediums.

Payment messages can be configured to suit the medium of communication such as SWIFT, TELEX and MAIL.

SWIFT messages

The format of the SWIFT messages that you generate for a counterparty would depend on the mode of settlement and whether the counterparty is:

• An individual, or
• A bank.

You can generate SWIFT messages in the following formats:

• MT100
• MT200
• MT202
• MT205

A SWIFT message provides the following information to the counterparty:

• The contract reference number
• The value date, currency code and the amount
• The counterparty
• Remarks

Telex messages

Telex messages contain the following information:

• The contract reference number
• The product description
• The currency
• The counterparty
• The contract amount
• The direction of funds
• The event code
• The event date
• The amount for the event
• The value date for the event
• The settlement account

Mail messages

Mail messages contain the following information:

• The contract reference number
• The payment currency
• The counterparty
• The address of the counterparty
• The contract amount
• The event date
• The amount for the event
• The value date for the event
• The settlement account