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Spotlight PEPPOL BIS Billing 3.0 The EU e-invoicing mandate is here — France Sept 2026, Belgium Jan 2026, Germany 2025.

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MT535 — Statement of Holdings

The periodic securities statement. Sent by the custodian (Clearstream, Euroclear, BNY Mellon, Northern Trust…) to asset managers and institutional investors, typically daily or monthly. The securities counterpart of the MT940 cash statement.

Purpose

MT535 delivers the periodic state of securities positions held on a safekeeping account at a given date. It lists each instrument (equity, bond, UCITS) with its quantity, valuation price, market value and currency. It is the reference document for portfolio valuation, AIFM/UCITS reporting and reconciliation between asset manager and custodian.

MT535 is typically sent at end-of-day by the custodian, after cut-off, in two modes: Complete Statement (COMP) listing every position, and Delta Statement (DELT) listing only movements since the previous statement. COMP is used for valuation, DELT for transactional reconciliation.

Sequence structure

  • GENL — General Information: page number, reference, statement type, date, securities account.
  • SUBSAFE — Sub-balance Information: the list of positions per instrument.
  • FIN (Financial Instrument) — sub-sequence repeated for each ISIN: identification, price, quantity, value.
  • SUBBAL (Sub-balance) — breakdown by position type (AVAI = available, BLOK = blocked, BORR = borrowed, COLI = collateral in, COLO = collateral out, PEND = pending).

Key tags

TagNameUsage
:28E:Page Number / Continuation Indicator1/ONLY = single page; 1/MORE, 2/LAST for long statements.
:20C::SEME//Sender's ReferenceUnique identifier of the MT535.
:98A::STAT//Statement DateStatement reference date (typically the previous business day).
:22F::SFRE//Statement FrequencyDAIL, WEEK, MNTH, QUTR.
:22F::CODE//Statement Type CodeCOMP (complete), DELT (delta).
:22F::STTY//Statement StructureCUST (custody), PORT (portfolio), TRAD (trading).
:97A::SAFE//Safekeeping AccountThe securities account concerned.
:17B::ACTI//Activity FlagY = account had activity since the previous statement.
:35B:Identification of InstrumentISIN + instrument name.
:90A: / :90B:PriceValuation price (MRKT = market price, INDC = indicative).
:94B::PRIC//Place of PriceQuotation venue (ISO 10383 MIC: XNAS for NASDAQ, XPAR for Euronext Paris).
:93B:BalanceQuantity (UNIT = units, FAMT = face amount).
:19A::HOLD//Holdings ValuePosition value in currency (quantity × price).

Real-world example

Statement sent by Clearstream Luxembourg to BNP Paribas, account 12,345,678, for two positions on 15 May 2026: 200 Apple Inc. shares valued at USD 37,950 and 1,254.326 Amundi Funds Global Equity units valued at EUR 125,016.49:

text mt535-holdings.txt 
{1:F01CEDELULLAXXX0000000000}{2:I535BNPAFRPPAXXXN}{3:{108:STMT20260515001}}{4:
:16R:GENL
:28E:1/ONLY
:20C::SEME//STMT20260515001
:23G:NEWM
:98A::STAT//20260515
:22F::SFRE//DAIL
:22F::CODE//COMP
:22F::STTY//CUST
:97A::SAFE//12345678
:17B::ACTI//Y
:16S:GENL
:16R:SUBSAFE
:16R:FIN
:35B:ISIN US0378331005
APPLE INC
:90A::MRKT//PRCT/189,75
:94B::PRIC//LMAR/XNAS
:98A::PRIC//20260515
:93B::AGGR//UNIT/200,
:19A::HOLD//USD37950,00
:16S:FIN
:16R:FIN
:35B:ISIN FR0010315770
AMUNDI FUNDS GLOBAL EQUITY
:90B::MRKT//ACTU/EUR/99,6531
:98A::PRIC//20260514
:93B::AGGR//UNIT/1254,326
:19A::HOLD//EUR125016,49
:16S:FIN
:16S:SUBSAFE}
  • :28E:1/ONLY — statement fits on a single page.
  • :22F::SFRE//DAIL — daily frequency.
  • :22F::CODE//COMP — complete statement (all positions listed).
  • :97A::SAFE//12345678 — BNP Paribas securities account at Clearstream.
  • :93B::AGGR//UNIT/200, — 200 units aggregated on the Apple position.
  • :90A::MRKT//PRCT/189,75 — market price as percent of par (for equities with nominal 1, percent = unit price).
  • :94B::PRIC//LMAR/XNAS — local market price on NASDAQ (ISO 10383 MIC).

Common pitfalls

  • Inconsistent pagination — the :28E: tag must reflect the sequence: 1/MORE, then 2/MORE, then 3/LAST. A standalone 1/LAST means a single-page statement.
  • Wrong MIC in :94B::PRIC// — the ISO 10383 MIC must match the venue where the instrument trades: XNAS for NASDAQ, XNYS for NYSE, XPAR for Euronext Paris, XLON for LSE. An arbitrary value breaks compliance controls.
  • HOLD currency vs price currency — :19A::HOLD// can be in a different currency from the price if the custodian converts into portfolio currency. Note the FX conversion and preserve traceability with a :92B::EXCH// tag.
  • COMP vs DELT mode — a consumer expecting COMP that receives DELT cannot rebuild its portfolio. The initial sync between an asset manager and a new custodian is always done in COMP.
  • Missing position — in COMP mode, an absent position is read as zero. A silent portfolio shrink (badly handled corporate action) can slip through: check that the aggregated :19A::HOLD// total matches the internal valuation.

ISO 20022 equivalent

MT535 maps to:

  • semt.018 — Statement of Investment Fund (used for fund portfolios).
  • semt.002 — Securities Balance Custody Report (direct equivalent for classic custody).
  • semt.003 — Securities Balance Accounting Report (accounting variant).
  • MT536 — Statement of Transactions, the transactional counterpart of MT535.
  • MT537 — Statement of Pending Transactions, for unsettled operations.
  • MT538 — Statement of Intra-Position Advices, for moves between sub-positions (free, blocked, borrowed).
  • MT940 / MT942 — cash management counterparts (cash account statement).
  • ISO 20022: semt.018, semt.002, semt.017.