10.1.2 MT 304 Advice/Instruction of a Third Party Deal

This topic describes the MT 304 Advice/Instruction of a Third Party Deal.

This message is sent by a fund manager to a custodian bank as an advice of/instruction to settle a third party foreign exchange deal. The definition of third party must be agreed up front between the fund manager and the custodian relative to deals executed by the custodians' treasury area on behalf of the fund manager. It is used to:
  • provide details about a new deal
  • provide a settlement notification
  • amend a previously sent message
  • cancel a previously sent message
This message may also be sent to the member of a centralised settlement system or directly to the centralised settlement system.

Table 10-8 Format Specifications: Mandatory Sequence A General Information

Field Tag Field Name Format Mandatory/Optional
15A New Sequence Empty field M
20 Sender's Reference 16x M
21 Related Reference 16x O
22A Type of Operation 4!c M
94A Scope of Operation 4!c M
17O Open Indicator 1!a O
17F Final Close Indicator 1!a O
17N Net Settlement Indicator 1!a O
83a Fund A or J M
82a Fund Manager A or J M
87a Executing Broker A or J M
81a Central Counterparty Clearing House (CCP) A, D, or J O
89a Clearing Broker A, D, or J O
17l Payment versus Payment Settlement Indicator 1!a O
77H Type, Date, Version of the Agreement 6a[/8!n][//4!n] O
14C Year of Definitions 4!n O
32E Settlement Currency 3!a O
30U Valuation Date 8!n O
14S Settlement Rate Source 3!a2n[/4!n/4!c] O
21A Reference to Opening Instruction 16x O
14E Clearing or Settlement Session 35x O

Table 10-9 Mandatory Sequence B Forex Transaction Details

Field Tag Field Name Format Mandatory/Optional
15B New Sequence Empty field M
30T Trade Date 8!n M
30V Value Date 8!n M
36 Exchange Rate 12d M
39M Payment Clearing Centre 2!a O

Table 10-10 Mandatory Sub-sequence B1 Amount Bought

Field Tag Field Name Format Mandatory/Optional
32B Currency, Amount Bought 3!a15d M
53a Delivery Agent A or J M
56a Intermediary A or J O
57a Receiving Agent A or J O

Table 10-11 Mandatory Subsequence B2 Amount Sold

Field Tag Field Name Format Mandatory/Optional
Field Tag Field Name Format Mandatory/Optional
33B Currency, Amount Sold 3!a15d M
53a Delivery Agent A or J O
56a Intermediary A or J O
57a Receiving Agent A or J M
58a Beneficiary Institution A or J O

Table 10-12 Optional Sequence C Optional General Information

Field Tag Field Name Format Mandatory/Optional
15C New Sequence Empty field M
21A Reference to the Associated Trade 16x O
21G Executing Broker's Reference 16x O
22U Underlying Product Identifier 6a O
35B Identification of Financial Instrument [ISIN1!e12!c]

4*35x

O
22V Execution Venue 35x O
98D Execution Timestamp 8!n6!n[,3n][/[N]2!n[2!n]] O
98G Confirmation Timestamp 8!n6!n[,3n][/[N]2!n[2!n]] O
98H Clearing Timestamp 6!n[,3n][/[N]2!n[2!n]] O
29A Contact Information 4*35x O
34C Commission and Fees 4!c/[N]3!a15d O
72 Sender to Receiver Information 6*35x O

Table 10-13 Optional Repetitive Subsequence C1 Unique Transaction Identifier

Field Tag Field Name Format Mandatory/Optional
22L Reporting Jurisdiction 35x M
22M UTI Namespace/Issuer Code 30x M
22N Transaction Identifier 32x M

Table 10-14 Optional Repetitive Sub-sequence C1a Prior Unique Transaction Identifier

Field Tag Field Name Format Mandatory/Optional
22P PUTI Namespace/Issuer Code 30x M
22R Prior Transaction Identifier 32x M

Table 10-15 Optional Sequence D Accounting Information

Field Tag Field Name Format Mandatory/Optional
15D New Sequence Empty field M
21P Reference to Previous Deals 16x O
17G Gain (Loss) Indicator 1!a O
32G Currency, Amount 3!a15d O
34B Commission and Fees - Currency and Amount 3!a15d O
30F Commission and Fees - Settlement Date 8!n O

Table 10-16 Optional Sequence E Net Amount to be Settled

Field Tag Field Name Format Mandatory/Optional
15E New Sequence Empty field M
17G Gain (Loss) Indicator 1!a M
32G Currency, Amount 3!a15d M
53a Delivery Agent A, D, or J O
56a Intermediary A, D, or J O
57a Receiving Agent A, D, or J O
58a Beneficiary Institution A, D, or J O

Note:

In option J, Party Identification must be specified as a list of pairs (Code)(Value). The codes must be placed between slashes ('/').