MT 304

FIN Category 3 message, advice/instruction to settle a third-party FX deal.

Definition

MT 304 supports the buy-side workflow: an asset manager who dealt an FX for a fund advises it to the settlement party (custodian, prime broker) and supplies the instructions, including CLS netting eligibility via field 17O. It carries references (20, 21), function of message (22A) and amount bought/sold blocks like the MT 300.

Origin

Defined in the SWIFT FIN User Handbook, Category 3 — Treasury Markets, Foreign Exchange, Money Markets and Derivatives, maintained by SWIFT.

Example in context

:20:TPDEAL98765
:22A:NEWT
:94A:ASET
:17O:Y
:32B:GBP500000,
:33B:USD635000,

Related terms

• MT 300 — bilateral FX confirmation between the two banks.