MT540
SWIFT Category 5 (securities) message, FOP settlement instruction.
Definition
The MT540 instructs the receipt of securities with no associated cash movement. With its counterparts — MT541 (receive against payment), MT542 (deliver free), MT543 (deliver against payment) — it forms the MT54x securities settlement instruction family. The FOP/DVP distinction is carried by field 22F SETR/PAYM.
Origin
Specified in the SWIFT Standards MT Category 5 (Securities Markets) Message Reference Guide, ISO 15022 syntax (ISO/TC 68), SWIFT as registration authority.
Example in context
:22F::SETR//TRAD and :22F::PAYM//FREE → free receipt, as opposed to //APMT (against payment).