3.5.11 Rate Reset Confirmation

Securities Repo (SR) module will support MT54x messages generation in linked SE deal when Rate revision (REVN) or Value dated Amendment (VAMI) events are performed on Fixed/Float rate Repo deals.

The REVN event will be triggered in linked SE deal when there is a Rate or Spread change in the related Repo deal either through Rate Revision schedules or Value dated Amendments.

The REVN event, in linked SE deal, will have 2 messages with same Swift message type. The first message will be similar to Original message (MT54x messages under BOOK event), but with a change in message tag ‘23G’ as ‘CANC’. This message indicates that it is cancellation of the original message which was sent during Repo deal booking.

The second message will be sent with message tag ‘23G: NEWM’ and message tag ‘98A: RERA//Rate revision date’ and the latest interest rate or Spread value will be updated in tag ‘92A’. This message indicates that it is the revised message with the latest interest rate or Spread value along with Repo deal details.