SWIFT ISO15022 Standard
Detail view for message MT503 - Collateral Claim
Description of the message MT503
Important!
The user header of the message (block 3) is mandatory and must contain a code in the Validation Flag field 119 ( {3:{119:xxxx}} ) to identify the exposure type or collateral reason.
These codes may be used for routing purposes.
Purpose of the message MT503
Scope of the message MT503
This message is sent by the collateral taker or its collateral manager to the collateral giver or its collateral manager. This message is also sent by the collateral giver or its collateral manager to the collateral taker or its collateral manager.
When sent by the taker, it is used to:
- request new collateral at the initiation of an exposure
- request additional collateral
- request the return of collateral
- recall the collateral upon the termination of an underlying exposure.
- re-send a message previously sent (Subfunction of the message is DUPL)
- provide a third party with a copy of the message for information (Subfunction of the message is COPY)
- re-send to a third party a copy of the message for information (Subfunction of the message is CODU).
When sent by the giver, it is used to:
This message is also used by the taker or the giver to request the cancellation of a previously sent collateral claim.
This message must not be used to initiate a substitution of collateral.
The message may also be used to: