1. Pre- Settlements User Guide
  2. Confirmation and Affirmation Process
  3. Generation of Outgoing SWIFT Confirmations MT 300 – Foreign Exchange Confirmation and MT 320 - Money Market Confirmation

8.1 Generation of Outgoing SWIFT Confirmations MT 300 – Foreign Exchange Confirmation and MT 320 - Money Market Confirmation

This topic describes the Generation of Outgoing SWIFT Confirmations MT 300 – Foreign Exchange Confirmation and MT 320- Money Market Confirmation.

Detailed Solution Flow Maintenance

This topic describes about the maintenance of Detail Solution Flow.

  • System generates the SWIFT confirmation messages for Non CLS deals (MT 300 for FX and MT 320 for MM) based on the below Customer parameters maintained in TRDCIFPM screen.

Figure 8-1 CIF Confirmation Parameters

Description of Figure 8-1 follows
Description of "Figure 8-1 CIF Confirmation Parameters"

Process Detail Solution Flow Maintenance

This topic describes the process to Detail Solution Flow Maintenance.

  • Once the deal is out of all exception handling Queues like Repair, Amend, Special, Credit check, Verify and ready for STP, system generates Confirmation message instantly. The message status is available in the outgoing message browser screen and status like Repair, Generated, Un generated is updated accordingly for the concerned deal.
  • Alternatively for the Counterparty in the CIF parameters maintenance if the Suppress flag is set, then the Confirmation message should not be sent out of the system
  • If at contract level the suppress confirmation flag is checked or suppress outgoing confirmation parameters is checked in the CIF confirmation parameter then confirmation will not be generated.
  • Pre-Settlement manager generates confirmations for transactions where Standard settlement Instructions are still unknown i.e. the instruction type is AYI\ AOI. (Awaiting your confirmation\ Awaiting our Instruction). Primarily deals which are held in the enrichment Queue with instruction type as AYI\AOI. The pay and receive fields will have instructions as UNKNOWN.
  • The System supports generation of SWIFT confirmations for deals having standard settlement Instruction category as Usual confirmation for a deal, if Standard settlement Instructions are of category Usual. The message has pay \ receive accounts as UNKNOWN in field 57 for the sell currency.

Figure 8-2 Sample MT 300 message – Foreign Exchange Confirmation

Shows the sample message FX confirmation

Figure 8-3 Sample MT 320 message – Money Market Confirmation

Shows the sample message MM confirmation

Event Based Confirmation Generation

This topic describes the Event Based Confirmation Generation.

Detailed Solution Flow

This topic describes about the Detail solution flow.

  • Confirmations can be viewed based on the events they are fired from, The pre settlement manager generates its own events and can be viewed from the respective contract online screens under pre settlement event tab. . Here the mandatory tag 22A describing the type of operation is NEWT.
  • For an action code AMEND having a financial change (i.e. Change in exchange rate, value date, Buy \ Sell Indicator, Buy\ Sell Currency, Notional amount) on a deal before SGEN hand off, a canceled confirmation will generate having 22A tag as CANC also a NEW confirmation will generate against the Pre-Settlement amendment event WAMD.
  • For an action code AMEND having a financial change (i.e. Change in exchange rate, value date, Buy \ Sell Indicator, Buy \ Sell Currency and its Notional) on a deal after the SGEN hand off, a canceled confirmation will generate having 22A tag as CANC also a NEW confirmation will generate against the Pre-Settlement amendment event WAMD.
  • For an action code CANC on a deal before and after SGEN hand off, a canceled confirmation will generate having 22A tag as CANC against the Pre-Settlement canceled event WCAN
  • For an action code AMEND having counterparty change, before and after the SGEN hand off then a CANC confirmation and NEW confirmation is sent.
  • During a Non-Financial Amendment of an FX Deal, via the FWDTRONL screen system should check if SI settlement related fields have been changed before generation of any FX Confirmation messages. If none of the SI fields has changed then system must suppress the generation of Confirmation messages for such Amendments.

This topic has the following topics:

Parent topic: Confirmation and Affirmation Process