ALERT: SMPG Compliance for the REAG/DEAG Block

For SMPG compliance, the format of the REAG/DEAG block varies from country to country. In many countries, you identify the REAG/DEAG participant with its clearing number at the specified PSET (for example, its DTC ID, EGSP number, or Euroclear Participant ID).

For example, in France, the depository can use a local ID:

:95R::REAG/EGSP/05678

However, some markets require the BIC code along with the corresponding clearing code. For example, in Germany, the depository seeks a BIC and a local ID:

:95P::REAG//DEUTDEFF

:97A::SAFE//7004000

Regardless of SMPG rules that specify where the Cearing ID appears in the MT54X messages, always populate it in the ALERT A/C# @ Depository field. If the SMPG rules require a BIC, populate it in the ALERT Local Agent BIC field. In markets where a BIC is not required, the Local Agent BIC field is optional.

The SMPG website, www.smpg.info, contains an up-to-date list of the countries that require format 95R versus format 95P.