Instruction specifications - Xact via SWIFT and Xact File Transfer – France (CBL, CBF OneClearstream)

24.11.2022

In the following tables, M=Mandatory; O=Optional; C=Conditional;
Seq=SWIFT Message (sub)sequence.

All EF T2S-eligible instruments

MT540 Receive Free

Seq

O

:20C:

:COMM

//common reference a

A1

M

:98a:

:TRAD

//Trade date/time

B

O

:22F:

:TTCO

//CCPN or XCPN b

 

O

:22F:

:STCO

//NPAR c

E

O

:22F:

:STCO

//NOMC

 

M

:95P:

:PSET

//SICVFRPPXXX

E1

M

:95P:

:DEAG

//Counterparty’s BIC8 or BIC 11 d

 

O

:97A:

:SAFE a

//Counterparty's account in T2S

 

O

:95P:

:SELL a

//Ordering party’s BIC 8 or BIC11, if different from DEAG b

 

or

:95Q:

:SELL a

//Ordering party’s name, if different from DEAG

 

or

:95R:

:SELL a

//Ordering party’s proprietary code, if different from DEAG

 

O

:97A:

:SAFE

//Ordering party’s account

 
Oe

:95P:

:REAG

//Customer's BIC8 or BIC11

 
Oe

:95P:, :95Q: or :95R:

:REI1

//Receiver’s Intermediary 1

 
Oe

:95P:, :95Q: or :95R:

:REI2

//Receiver’s Intermediary 2

 
Oe

:95P:, :95Q: or :95R:

:RECU

//Receiving custodian's BIC8 or BIC11

 

O

:95a:

:BUYR f

//Beneficiary

 
Ce

:70D:

:REGI

Registration details

 
Ce

:22F:

:BENE

//NBEN

 

MT541 Receive Against Payment

Seq

O

:20C:

:COMM

//common reference a

A1

M

:98a:

:TRAD

//Trade date/time

B

O

:22F:

:TTCO

//CCPN or XCPN b

 

O

:22F:

:STCO

//NPAR c

E

O

:22F:

:STCO

//NOMC

 

M

:95P:

:PSET

//SICVFRPPXXX

E1

M

:95P:

:DEAG

//Counterparty’s BIC8 or BIC 11 d

 

O

:97A:

:SAFE a

//Counterparty's account in T2S

 

O

:95P:

:SELL a

//Ordering party’s BIC 8 or BIC11, if different from DEAG b

 

or

:95Q:

:SELL a

//Ordering party’s name, if different from DEAG

 

or

:95R:

:SELL a

//Ordering party’s proprietary code, if different from DEAG

 

O

:97A:

:SAFE

//Ordering party’s account

 
Oe

:95P:

:REAG

//Customer's BIC8 or BIC11

 
Oe

:95P:, :95Q: or :95R:

:REI1

//Receiver’s Intermediary 1

 
Oe

:95P:, :95Q: or :95R:

:REI2

//Receiver’s Intermediary 2

 
Oe

:95P:, :95Q: or :95R:

:RECU

//Receiving custodian's BIC8 or BIC11

 

O

:95a:

:BUYR f

//Beneficiary

 
Ce

:70D:

:REGI

Registration details

 
Ce

:22F:

:BENE

//NBEN

 

MT542 Deliver Free

Seq

O

:20C:

:COMM

//common reference a

A1

M

:98a:

:TRAD

//Trade date/time

B

O

:22F:

:TTCO

//CCPN or XCPN b

 

O

:22F:

:STCO

//NPAR c

E

O

:22F:

:STCO

//NOMC

 

M

:95P:

:PSET

//SICVFRPPXXX

E1

M

:95P:

:REAG

//Counterparty’s BIC8 or BIC 11 d

 

O

:97A:

:SAFE a

//Counterparty's account in T2S

 

O

:95P:

:BUYR a

//Beneficiary’s BIC 8 or BIC11, if different from DEAG b

 

or

:95Q:

:BUYR a

//Beneficiary’s name, if different from DEAG

 

or

:95R:

:BUYR a

//Beneficiary’s proprietary code, if different from DEAG

 

O

:97A:

:SAFE

//Beneficiary’s account

 
Oe

:95P:

:DEAG

//Customer's BIC8 or BIC11

 
Oe

:95P:, :95Q: or :95R:

:DEI1

//Deliverer’s Intermediary 1

 
Oe

:95P:, :95Q: or :95R:

:DEI2

//Deliverer's Intermediary 2

 
Oe

:95P:, :95Q: or :95R:

:DECU

//Delivering custodian's BIC8 or BIC11

 

O

:95a:

:SELL f

//Ordering party

 
Ce

:70D:

:REGI

Registration details

 
Ce

:22F:

:BENE

 //NBEN

 

MT543 Deliver Against Payment

Seq

O

:20C:

:COMM

//common reference a

A1

M

:98a:

:TRAD

//Trade date/time

B

O

:22F:

:TTCO

//CCPN or XCPN b

 

O

:22F:

:STCO

//NPAR c

E

O

:22F:

:STCO

//NOMC

 

M

:95P:

:PSET

//SICVFRPPXXX

E1

M

:95P:

:REAG

//Counterparty’s BIC8 or BIC 11 d

 

O

:97A:

:SAFE a

//Counterparty's account in T2S

 

O

:95P:

:BUYR a

//Beneficiary’s BIC 8 or BIC11, if different from DEAG b

 

or

:95Q:

:BUYR a

//Beneficiary’s name, if different from DEAG

 

or

:95R:

:BUYR a

//Beneficiary’s proprietary code, if different from DEAG

 

O

:97A:

:SAFE

//Beneficiary’s account

 
Oe

:95P:

:DEAG

//Customer's BIC8 or BIC11

 
Oe

:95P:, :95Q: or :95R:

:DEI1

//Deliverer’s Intermediary 1

 
Oe

:95P:, :95Q: or :95R:

:DEI2

//Deliverer's Intermediary 2

 
Oe

:95P:, :95Q: or :95R:

:DECU

//Delivering custodian's BIC8 or BIC11

 

O

:95a:

:SELL f

//Ordering party

 
Ce

:70D:

:REGI

Registration details

 
Ce

:22F:

:BENE

//NBEN

 

------------------------------------------

a. Optional matching fields.

b. Additional matching fields. 

c. Only provide in order to prevent partial settlement. Euroclear France only accepts indicators COEX/PARQ and COEX/PARC when instructing in ISO20022.

d. If a customer uses a BIC8, Clearstream Banking shall be entitled to modify the BIC8 by adding the default XXX suffix to comply with T2S settlement rules. Accordingly, such customers remain liable for any settlement fails that the use of the BIC8 may cause.

e. Field :70D::REGI becomes mandatory for French registered securities (VEN) when the transaction is a) impacting an underlying customer that is a French resident; or b) aiming to sell a position registered in the name of a final BO; or c) acquiring a position which needs to be registered under a BO name.

In case of portfolio transfer for VEN, VON and LBS, Field :70D::REGI and Field :22F::BENE/NBEN become mandatory.
In case of conversion request for VON, field :70D::REGI must be used to convert from bearer to registered (and registered to bearer). 

Portfolio transfer and Conversion instructions can be performed only via FoP.

Field :70D::REGI can be input under REAG, REI1, REI2, RECU and BUYR qualifiers for MT540/541, or under DEAG, DEI1, DEI2, DECU and SELL qualifiers for MT542/543.
If multiple registration details are provided at different party levels, only the highest party level REGI details will be considered for registration
(level party 1 being the lowest and 5 being the highest)

Party level 1 = REAG or DEAG
Party level 2 = REI1 or DEI1
Party level 3 = REI2 or DEI2
Party level 4 = RECU or DECU
Party level 5 = BUYR or SELL

The above fields are the recommended fields to be used.

If customers choose to include REGI details under DEAG, DEI1, DEI2, DECU and SELL qualifiers for MT540/541, or under REAG, REI1, REI2, RECU and BUYR qualifiers for MT542/543. Clearstream will also be able to capture the information and will apply always the same rule in case of multiple registration details.

Clearstream will give priority to registration details provided in recommended fields and will only consider those ones in case of multiple registration details.

For further details about the registration formats, please refer to Settlement services French Registered Securities – France.

f. This optional matching field will be forwarded as received.  T2S will only match if provided with format BIC or proprietary.  If a customer uses a BIC8, Clearstream Banking will add the default XXX suffix to comply with T2S settlement rules. If not present, Clearstream will default the customer’s matching BIC for the instructing account (refer to Announcement A16033).

ODM (transactions for non-EF-eligible securities in dematerialised form, CBL via BNP Paribas S.A. only)

MT540 Receive Free

Seq

M

:98a:

:TRAD

//Trade date/time a

B

O

:90a:

:DEAL

//Deal price

 

O

:70E:

:SPRO

//Name and Address of beneficiary or “NCBO”

 

M

:95P:

:PSET

//SICVFRPP[XXX]

E1

M

:95P:

:DEAG

//Counterparty’s BIC

 

M

:97A:

:SAFE

//Counterparty’s ESES participant account

 

C b

:95P:

:SELL 

//Ordering party’s BIC c

 

C b

:97A:

:SAFE

//Ordering party’s account

 

MT542 Deliver Free

Seq

M

:98a:

:TRAD

//Trade date/time a

B

O

:90a:

:DEAL

//Deal price

 

O

:70E:

:SPRO

//Name and Address of beneficiary or “NCBO”

 

M

:95P:

:PSET

//SICVFRPP[XXX]

E1

M

:95P:

:REAG

//Counterparty’s BIC

 

M

:97A:

:SAFE

//Counterparty’s ESES participant account

 

C b

:95P:

:BUYR 

//Beneficiary’s BIC c

 

C b

:97A:

:SAFE

//Beneficiary’s account

 

------------------------------------------
a. Settlement Date must not be more than 10 business days after Trade Date..
b. Mandatory if DEAG/REAG account is 030 or PARBFRPP.
c. If no BIC exists for the Seller/Buyer, the :95Q: Name and Address field can be used instead in each case. If the appropriate BIC does exist but is not provided, STP cannot be guaranteed and there is a risk of incurring eventual charges.

Physical transactions (CBL via BNP Paribas S.A. only)

Physical deliveries can only be effected in “Certificats Représentatifs”.

MT542 Deliver Free

  

Seq

M

:70E:

:SPRO

//Certificats Représentatifs

B1

M

:22F:

:STCO

//PHYS

E

M

:95C:

:PSET

//FR

E1

C a

:95Q:

:REAG

//Name and address of recipient of the securities

 

C a

:95Q:

:BUYR

//Name and address of beneficiary, if different from REAG

 

------------------------------------------
a. Mandatory if REAG Account is 030.

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