Data Dictionary: Standard Settlement Instruction Fields

The membership ID of the clearing agent at the depository.

It is also referred to as the local market code identifier, such as the DTC participant number, or a CHESS PID number other than a BIC. You complete it for certain countries according to Securities Market Practice Group (SMPG) recommended guidelines.

The name of this field changes to the relevant name for the local identifier when selecting certain methods.

For US-DTC settlement instructions, ID1 (DTC#) is required and validated against DTC master files.

The account number of the entity that has the account at the local agent.

For two levels of clearing, this is the global custodian’s account number at the subcustodian/subagent. If there is an intermediary, this is the intermediary’s account number at the subcustodian/subagent.

For foreign exchange transactions, this field contains the final beneficiary’s account number (that is, the account number at the global custodian).

SWIFT uses the following labels to identify the parties:

• RECU/DECU = Global custodian
• REAG/DEAG = Subcustodian/subagent/local agent
• REI1/DEI1 = Intermediary

The second 35 characters of the account name of the entity that has the account at the clearing agent.

For one level of clearing, leave this field blank. For two levels of clearing, this is the name of the clearing broker/dealer’s account at the clearing agent. If there is an intermediary, this is the name of the intermediary’s account at the clearing agent.

SWIFT uses the following labels to identify the parties:

• REAG/DEAG = Clearing agent
• RECU/DECU = Clearing broker/dealer
• REI1/DEI1 = Intermediary

The alternate currency if settlement takes place in a currency other than the one specified in the Payment Currency field; for example, US$ in Singapore.

The sender of a SWIFT settlement instruction can use the value in this field to populate an indicator in a message. It instructs the recipient (custodian) to buy (FXIB) or sell (FXIS) the currency necessary to settle the trade.

The first 35 characters of the cash correspondent bank’s street when the Correspondent Relationship field is set to Correspondent (C).

The executing or clearing broker/dealer chooses a cash correspondent bank when it does not clear cash through the clearing agent. SWIFT refers to the cash correspondent bank as ACCW.

When the Correspondent Relationship Field is set to Subagent (S), these are the first 35 characters of the first intermediary’s street. SWIFT refers to the first intermediary as REI1/DEI1.

The BIC of the cash correspondent bank when the Correspondent Relationship field is set to Correspondent (C).

The global custodian chooses a correspondent bank when it does not settle cash through the subcustodian. SWIFT refers to the cash correspondent bank as ACCW.

When the Correspondent Relationship field is set to Subagent (S), this is the BIC of the first intermediary. SWIFT refers to the first intermediary as REI1/DEI1.

When the Correspondent Relationship field is set to Correspondent (C), this is the cash correspondent bank’s city. The global custodian chooses the cash correspondent bank when it does not clear cash through the subcustodian. SWIFT refers to the cash correspondent bank as ACCW.

When the Correspondent Relationship field is set to Subagent (S), this is the first intermediary’s city. SWIFT refers to the first intermediary as REI1/DEI1.

The cash correspondent bank’s state or province when the Correspondent Relationship field is set to Correspondent (C).

The global custodian chooses the cash correspondent bank when it does not clear cash through the subcustodian. SWIFT refers to the cash correspondent banks as ACCW.

When the Correspondent Relationship is set to Subagent (S), this is the first intermediary’s state or province. SWIFT refers to the first intermediary as REI1/DEI1.

The second 35 characters of the cash correspondent bank’s name when the Correspondent Relationship field is set to Correspondent (C).

The global custodian chooses the cash correspondent bank when it does not clear cash through the subcustodian. SWIFT refers to the cash corespondent bank as ACCW.

When the Correspondent Relationship field is set to Subagent (S), these are the second 35 characters of the first intermediary’s name. SWIFT refers to the first intermediary as REI1/DEI1.

Defines the party details that the Correspondent fields store.

Set it to either C (Correspondent), which indicates a cash correspondent in the settlement chain, or S (Subagent), which indicates an intermediary in the settlement chain. For example, you can use it to allow for the listing of a cash correspondent or another custodian level.

The first 35 characters of the global custodian bank’s street.

SWIFT refers to the global custodian as the RECU/DECU or BENM.

For one level of clearing, leave the global custodian information blank. In this scenario, the subagent is the same entity as the global custodian; therefore, you enter ALERT data only in the Sub Agent fields.

The global custodian’s bank’s BIC. SWIFT refers to the global custodian as RECU/DECU or BENM.

For one level of clearing, leave the global custodian information blank. In this scenario, the subagent is the same entity as the global custodian; therefore, you enter ALERT data only in the Sub Agent fields.

The global custodian bank’s country.

SWIFT refers to the global custodian as RECU/DECU or BENM.

For one level of clearing, leave the global custodian information blank. In this scenario, the subagent is the same entity as the global custodian; therefore, you enter ALERT data only in the Sub Agent fields.

The first 35 characters of the global custodian bank’s name.

SWIFT refers to the global custodian as RECU/DECU or BENM.

For one level of clearing, leave the global custodian information blank. In this scenario, the subagent is the same entity as the global custodian; therefore, you enter ALERT data only in the Sub Agent fields.

The global custodian bank’s post code, zip code, or similar.

SWIFT refers to the global custodian as RECU/DECM or BENM.

For one level of clearing, leave the global custodian information blank. In this scenario, the subagent is the same entity as the global custodian; therefore, you enter ALERT data only in the Sub Agent fields .at a d

Another means of participant identification that a depository uses, such as a DTC Institution ID number.

The name of this field changes to the relevant name for the local identifier when selecting certain methods.

For US-DTC settlement instructions, ID 3 (Inst/broker ID) is required and validated against DTC master files.

Another means of identification used by a depository.

Only applicable in settlement instructions for India when the method is:

• Central Depository Services Ltd. (INCSD)
• National Securities Depository Ltd. (NSDL)
• Reserve Bank of India (RBI).

This field is not available if you use DTD version 6 or less.

The first interested party’s BIC when using the DTC as the clearing method.

The DTC uses this to send trade confirmations.

The first interested party’s ID when using DTC as the clearing method.

The DTC uses this to send trade confirmations.

The first interested party’s phone number when using the DTC as the clearing method.

The DTC uses this to send trade confirmations.

The first interested party’s additional special instructions when using the DTC as the clearing method.

The DTC uses this to send trade confirmations.

The second interested party’s BIC when using the DTC as the clearing method.

The DTC uses this to send trade confirmations.

The second interested party’s ID when using DTC as the clearing method.

DTC uses this to send trade confirmations.

You can also use the Interested Party 2 BIC and Interested Party 3 Name fields to specify the party to whom DTCC should send MT54X messages if the following conditions are true:

• You are using DTCC settlement notification.
• This is a different party from the party specified in the Custodian BIC field or the Local Agent BIC  field. In this case, leave all Contact 3 fields(other than BIC and Name) blank.

The second interested party’s phone number when using DTC as the clearing method.

The DTC uses this to send trade confirmations.

The second interested party’s additional special instructions when using DTC as the clearing method.

The DTC uses this to send trade confirmations.

The third interested party’s BIC when using DTC as the clearing method.

The DTC uses this to send trade confirmations

You can also use the Interested Party 3 BIC and Interested Party 3 Name fields to specify the party to whom DTCC should send MT54X messages, if the following are true:

• The investment manager is using DTCC settlement notification.
• This is a different party from the party specified in the Custodian BIC field or the Local Agent BIC  field.

In this case, leave all Interested Party 3 fields (other than BIC and Name) blank.

The third interested party’s ID when using DTC as the clearing method.

The DTC uses this to send trade confirmations.

You can also use the Interested Party 3 BIC and Interested Party 3 Name fields to specify the party to whom DTCC should send MT54X messages, if the following are true:

• The investment manager is using DTCC settlement notification.
• This is a different party from the party specified in the Custodian BIC field or the Local Agent BIC  field.

In this case, leave all Interested Party 3 fields (other than BIC and Name) blank.

The third interested party’s phone number when using DTC as the clearing method.

The DTC uses this to send trade confirmations.

You can also use the Interested Party 3 BIC and Interested Party 3 Name fields to specify the party to whom DTCC should send MT54X messages, if the following are true:

• The investment manager is using DTCC settlement notification.
• This is a different party from the party specified in the Custodian BIC field or the Local Agent BIC  field.

In this case, leave all Interested Party 3 fields (other than BIC and Name) blank.

The third interested party’s additional special instructions when using DTC as the clearing method.

The DTC uses this to send trade confirmations.

The second 35 characters of the name of the member/participant in ID1.

SWIFT refers to this as READ/DEAG.

The central depository’s BIC.

SWIFT refers to this as the PSET. Per SMPG, use the stock exchange BIC when no CSD exists in a market. Use Country Code only for physical settlements.

Country Code is the same as the country in the Country-Security-Method combination, but must be in the ISO country format.

The second 35 characters of the beneficial owner's street.

It is part of the post-settlement process. ALERT uses this the subcustodian is settling securities in physical form. SWIFT refers to the subcustodian as the REAG/DEAG.

The beneficial owner's city.

It is part of the post-settlement process. ALERT uses this the subcustodian is settling securities in physical form. SWIFT refers to the subcustodian as the REAG/DEAG .

The beneficial owner's state or province.

It is part of the post-settlement process. ALERT uses this the subcustodian is settling securities in physical form. SWIFT refers to the subcustodian as the REAG/DEAG .

The beneficial owner's post code, zip code, or equivalent.

It is part of the post-settlement process. ALERT uses this the subcustodian is settling securities in physical form. SWIFT refers to the subcustodian as the REAG/DEAG .)

The phone of the contact at the subcustodian (one level of clearing) or at the global custodian (two or more levels of clearing).

SWIFT refers to the subcustodian is known as the REAG/DEAG. SWIFT refers to the global custodian is known as the RECU/DECU.

Additional special instructions related to the settlement contact from the Settlement Contact and Settlement Phone fields.

You can also use this for any other miscellaneous information relating to the settlement not entered elsewhere in the instruction

The second 35 characters of the account name of the entity that has the account at the local agent.

For one level of clearing, leave the global custodian information blank.

For two levels of clearing, it is the name of the global custodian’s account at the subcustodian/subagent. If there is an intermediary, it is the intermediary’s account at the subcustodian/subagent.

SWIFT refers to the global custodian as the RECU/DECU. SWIFT refers to the subcustodian/subagent as REAG/DEAG. SWIFT refers to the intermediary as REI1/DEI1.

The second 35 characters of the local agent’s street.

It is the entity that settles the transaction at the depository. SWIFT refers to the local agent as REAG/DEAG.

Always populate key subagent information, because this is the entity that settles the transaction at the depository.

The local agent’s city.

It is the entity that settles the transaction at the depository. SWIFT refers to the local agent as REAG/DEAG.

Always populate key subagent information, because this is the entity that settles the transaction at the depository.

The local agent’s state or province.

This is the entity that settles the transaction at the depository. SWIFT refers to the clearing agent as REAG/DEAG.

Always populate key subagent information, because this is the entity that settles the transaction at the depository.

The second 35 characters of the local agent’s name.

This is the entity that settles the transaction at the depository. SWIFT refers to the local agent as REAG/DEAG.

Always populate key subagent information, because this is the entity that settles the transaction at the depository.