ALERT: Settlement Instructions: Equity, Fixed Income, Money Market, and Unspecified

This topic lists the standard settlement instructions used when you select the following:

Note
Always provide BICs using valid BIC syntax.
  1. Security from the equity, fixed income, money market, and unspecified security type group.
  2. CASH, Universal, Physical, CEDEL, or Euro_clear method, with differences noted for A/C# @
  3. Depository (ID 1) labels and Local Agent BIC (Physical and Universal only)

These settlement instructions are also used when you select market-specific methods (Countries That Have Market-Specific Methods).

Table 5  Equity, Fixed Income, Money Market, and Unspecified Security Types
Field Name Field Label Syntax Rules Account-Specific Validations Model Validation
A/C Ref 1 A/C Ref Maximum length: 35.    
A/C Ref 2 A/C Ref Cont'd Maximum length: 35.    
A/C# @ Global Custodian (Security A/C#) A/C# @ Global Custodian Maximum length: 35. May contain only characters valid for SWIFT. Mandatory for investment manager and global custodian.  
A/C# @ Depository (ID 1) A/C# @ Depository Maximum field length=35. Valid SWIFT characters. A/C# @ Depository (ID 1) is required if Local Agent BIC and Sub Agent Name 1 are empty.  
A/C# @ Local Agent (Sub A/C #) A/C# @ Local Agent Maximum length: 35. Valid SWIFT characters.    
Alternate Cash A/C# Alt Cash A/C# Maximum length: 35. May contain only characters valid for SWIFT. Not allowed if Cash A/C# is empty.  
Alternate Currency Alternate Currency      
Cash A/C # Cash A/C # Maximum length: 35. May contain only characters valid for SWIFT.    
Corresp Address 1 Correspondent Address Maximum length: 35. Not allowed if Corresp BIC is empty.
Corresp Address 2 Correspondent Address Maximum length: 35. Not allowed if Corresp Address 1 is empty.
Corresp BIC Correspondent BIC Must use valid BIC syntax. Required if Corresp Name 1 has a value.
Corresp Cash A/C # Cash A/C # Maximum length: 35. Valid SWIFT characters. Not allowed if: Corresp BIC is empty or Corres BIC has a value and Relationship=S. Required if Corresp BIC has a value and Relationship=C.
Corresp City City Maximum length: 35. Not allowed if Corresp BIC is empty.
Corresp Country Country Maximum length: 3. Not allowed if Corresp BIC is empty.
Corresp Locality State/Province Maximum length: 35. Not allowed if Corresp BIC is empty.
Corresp Name 1 Correspondent Name Maximum length: 35. Valid SWIFT characters. Not allowed if Corresp BIC is empty.
Corresp Name 2 Correspondent Name Maximum length: 35. Valid SWIFT characters. Not allowed if Corresp Name 1 is empty.
Corresp Post Code Post Code Maximum length: 15. Not allowed if Corresp BIC is empty. Not allowed if Corresp BIC is empty.
Corresp Sec A/C # Security A/C# Maximum length: 35. Valid SWIFT characters. Not allowed if: Corresp BIC is empty or Corresp BIC has a value and Relationship=C. Required if: Corresp BIC has a value and Relationship=S.
Custodian Address 1 Custodian Address Maximum length: 35.  
Custodian Address 2 Custodian Address Maximum length: 35. Not allowed if Custodian Address 1 is empty.
Custodian BIC Custodian BIC Must use valid BIC syntax.

Required if:

  • Custodian Name 1 has a value

or

  • Corresp BIC has a value and Relationship=S and Custodian Name 1 is empty

or

  • ID1 and Local Agent BIC are empty.
Required Custodian Name 1 has a value.
Custodian City City Maximum length: 35 Not allowed if Custodian BIC and Custodian Name 1 are empty.
Custodian Country Country Maximum length: 3.  
Custodian Locality State/Province Maximum length: 35. Not allowed if Custodian BIC and Custodian Name 1 are empty.
Custodian Name 1 Custodian Name Maximum length: 35. Valid SWIFT characters.    
Custodian Name 2 Custodian Name Maximum length: 35. Valid SWIFT characters. Not allowed if Custodian Name 1 is empty. Not allowed if Custodian Name 1 is empty.
Custodian Post Code Post Code Maximum length: 15. Not allowed if Custodian BIC and Custodian Name 1 are empty. Not allowed if Custodian BIC and Custodian Name 1 are empty.
Effective Date Effective Settlement Date YYYY-MM-DD

When you create or edit current settlement instruction, must be current date or later.

When you edit Future Effective settlement instruction, must be greater than current date.

Cannot be more than 400 days greater than current date.

  
I/P 1 A/C # A/C # Maximum length: 25.    
I/P 1 BIC Interested Party 1 BIC Must use valid BIC syntax.    
I/P 1 Contact Contact Maximum length: 35.    
I/P 1 ID ID Maximum length: 8.    
I/P 1 Name Interested Party 1 Name Maximum length: 70.    
I/P 1 Phone Phone Maximum length: 20.    
I/P 1 Special Instr Special Instructions Maximum length: 35.    
I/P 1 Special Instr Special Instructions Maximum length: 35.  
I/P 2 A/C # A/C # Maximum length: 25.    
I/P 2 BIC Interested Party 2 BIC Must use valid BIC syntax. Must be a valid BIC.
I/P 2 Contact Contact Maximum length: 35.    
I/P 2 ID ID Maximum length: 8.    
I/P 2 Name Interested Party 2 Name Maximum length: 70.    
I/P 2 Phone Phone Maximum length: 20.    
I/P 2 Special Instr Special Instructions Maximum length: 35.    
I/P 2 Special Instr Special Instructions Maximum length: 35.    
I/P 3 A/C # A/C # Maximum length: 25.    
I/P 3 BIC Interested Party 3 BIC Must use a valid BIC syntax.    
I/P 3 Contact Contact Maximum length: 35.    
I/P 3 ID ID Maximum length: 8.    
I/P 3 Name Interested Party 3 Name Maximum length: 70.    
I/P 3 Phone Phone Maximum length: 20.    
I/P 3 Special Instr Special Instructions Maximum length: 35.    
I/P 3 Special Instr Special Instructions Maximum length: 35.    
ID 1 (see A/C# @ Depository)        
ID 2 ID 2 Maximum field length=35. Valid SWIFT characters.    
ID 3 ID 3 Maximum length: 35.    
ID4 ID4 Maximum field length=10. Alphanumeric May only be populated when Method=INCSD, NSDL or RBI.
ID5 ID5 Maximum field length=10. Alphanumeric May only be populated when Method=INCSD, NSDL or RBI.
Institution BIC Institution/ Executing broker BIC Must use valid BIC syntax. Must be a valid BIC .
Institution Contact Contact Maximum length: 35.    
Institution Name Name Maximum length: 70. Valid SWIFT characters.    
Institution Phone Phone Maximum length: 20.    
Local Agent BIC Local Agent BIC Must use valid BIC syntax. Required if:• ID1 and Sub Agent Name 1 are empty.  
Participant Name 1 Participant 1 Maximum length: 35.    
Participant Name 2 Participant 2 Maximum length: 35.    
Payment Currency Settlement Currency      
PSET PSET Must use valid BIC syntax. Required. Must be a valid BIC.
Reg Address 1 Registration Address Maximum length: 35. Not allowed if Reg Name 1 is empty.
Reg Address 2 Registration Address   Not allowed if Reg Name 1 is empty.
Reg BIC Registration BIC Must use valid BIC syntax.    
Reg City City Maximum length: 35. Not allowed if Reg Name 1 is empty.
Reg Country Country Maximum length: 3. Not allowed if Reg Name 1 is empty.
Reg Locality State/Province Maximum length: 35. Not allowed if Reg Name 1 is empty.
Registration Name 1 Registration Name Maximum length: 140.    
Reg Postal Code Post Code Maximum length: 15. Not allowed if Reg Name 1 is empty.
Relationship Relationship Maximum length: 1. Required if Corresp BIC has a value. Not allowed if Corresp BIC is empty.
Security A/C#    (See A/C# @ Global Custodian)        
Settlement Contact Settlement Contact Maximum length: 35.    
Settlement Phone Settlement Phone Maximum length: 20.    
Special Instr 1 Special Instructions Maximum length: 35.  
Special Instr 2 Special Instructions Maximum length: 35.  
Sub A/C # (see A/C# @ Local Agent)        
Sub A/C Ref 1 Sub A/C Ref Maximum length: 35.    
Sub A/C Ref 2 Sub A/C Ref Maximum length: 35.    
Sub Agent Address 1 Sub Agent Address Maximum length: 35. Not allowed if Local Agent BIC and SubAgent Name are empty.  
Sub Agent Address 2 Sub Agent Address Maximum length: 35. Not allowed if Sub Agent Address 1 is empty.  
Sub Agent City City Maximum length: 35. Not allowed if Sub Agent Name 1 and Local Agent BIC empty.  
Sub Agent Country Country Maximum length: 3. Not allowed if Sub Agent Name 1 and Local Agent BIC empty.  
Sub Agent Locality State/Province Maximum length: 35 Not allowed if Sub Agent Name 1 and Local Agent BIC empty.  
Sub Agent Name 1 Sub Agent Name Maximum length: 35. Valid SWIFT characters. Required If ID 1 and Local Agent BIC are empty, and Custodian BIC has a value.  
Sub Agent Name 2 Sub Agent Name Maximum length: 35. Valid SWIFT characters.    
Sub Agent Post Code Post Code Maximum length: 15. Not allowed if Sub Agent Name 1 and Local Agent BIC empty.  

CASH

When you select a security from the Equity, Corporate Fixed Income, Government Fixed Income, Money Market, or Unspecified Security Type groups and the method is CASH, the settlement instructions are the same as the standard settlement instruction except for the label changes for the following fields:

  • CASH A/C# is A/C# @ Local Agent
  • Correspondent BIC is Intermediary BIC
  • Correspondent Cash A/C# is Intermediary A/C#
  • Correspondent Name 1 is Intermediary Name
  • Custodian BIC is Beneficiary Inst BIC
  • Custodian Name is Beneficiary Inst Name
  • A/C# @ Depository (ID 1), ID 2, and ID 3 are Bank Code 1, Bank Code 2, and Bank Code 3, respectively
  • Local Agent BIC is Receiving Agent BIC
  • Sub Agent Name 1 is Receiving Agent Nam

CEDEL

The CEDEL settlement instructions are the same as the standard settlement instructions with these exceptions:

  • Label for A/C# @ Depository (ID 1) is CEDEL#
  • You must populate CEDEL#
  • If CEDEL# and Sub Agent Name are empty, you must populate Local Agent BIC for countries that are eligible for the CLS method.
  • You must populate the A/C# @ Local Agent field if you have two or more levels of clearing (that is, when Custodian BIC is populated).

EURO_CLEAR

The EURO_CLEAR settlement instructions are the same as the standard settlement instructions with these exceptions:

  • Label for A/C# @ Depository (ID 1) is Euroclear#
  • You must populate Euroclear#
  • Required length of Euroclear# is 5 numeric characters
  • You must populate the A/C# @ Local Agent field if you have two or more levels of clearing (that is, when Custodian BIC is populated).
Note
Euroclear is an ICDS, meaning that there is no specific country that is relevant as the domicile for it. DTCC recommends that clients use country code “EUROPE” where all underlying country instructions settle using the same market ID. However, there can be some market-specific differences. For example, for Italy and Great Britain, clients settle using an alternative Euroclear ID. In these circumstances recommends, setting up Europe as the primary country code, then individual countries where the data is different. All the country codes that you set up should use the Euroclear method. Broker should retrieve keys, Country, Security, and Method, looking for country-based Euroclear method instructions first. If there are no country-specific Euroclear instructions in place, brokers should look for Europe Euroclear instructions.

PHYSICAL

The PHYSICAL settlement instructions are the same as the standard settlement instructions with these exceptions:

  • A/C# @ Depository (ID 1) is required if Country is France, Germany, Ireland, United Kingdom, or the United States

  • Local Agent BIC is mandatory if Country is one of the following:

    • Australia
    • Austria
    • Belgium
    • Brazil
    • Chile
    • Colombia
    • Ecuador
    • Finland
    • Germany
    • India
    • Italy
    • Malaysia
    • Norway
    • Portugal
    • South Africa
    • Spain
    • Sweden
    • Netherlands
    • Turkey
    • Uruguay
    • Venezuela (Bolivarian Republic of)

UNIVERSAL

The UNIVERSAL settlement instructions are the same as the standard settlement instructions with these exceptions:

  • A/C# @ Depository (ID 1) is required if Country is France, Germany, Ireland, United Kingdom, or the United States.

  • Local Agent BIC is mandatory if Country is one of the following:

    • Australia
    • Austria
    • Belgium
    • Brazil
    • Chile
    • Colombia
    • Ecuador
    • Finland
    • Germany
    • Greece
    • India
    • Italy
    • Malaysia
    • Norway
    • Portugal
    • South Africa
    • Spain
    • Sweden
    • Netherlands
    • Turkey
    • Uruguay
    • Venezuela (Bolivarian Republic of)