SWIFT ISO 20022 - Message description - Standing Settlement Instruction Cancellation (reda.059.001)

Scope

An instructing party sends the StandingSettlementInstructionCancellation message to the receiver to cancel a previously sent StandingSettlementInstruction message. The message can also be used to notify a counterparty of the deletion of a standing settlement information.

Usage

The instructing party (initiator) is:

• An account servicer, for example, a global custodian or prime broker
• A counterparty in a transaction, for example:
  • an investment manager (executing broker),
  • a global custodian (executing broker, prime broker)
• A vendor's application communicating on behalf of an account servicer or counterparty

The receiver is:

• An account owner, for example, an investment manager, hedge fund administrator or a party to which SSI operations have been outsourced
• A counterparty, for example:
  • an investment manager (executing broker)
  • a global custodian (executing broker, prime broker)
• A vendor's application communicating on behalf of the account owner or counterparty.

StgSttlmInstrCxl