SWIFT ISO 20022 - Message description - Securities Financing Modification Instruction (sese.036.001)

Scope

An account owner sends a SecuritiesFinancingModificationInstruction to a securities financing transaction account servicer to notify the securities financing transaction account servicer of an update in the details of a repurchase agreement, reverse repurchase agreement, securities lending or securities borrowing transaction that does not impact the original transaction securities quantity.

Such a change may be:

• the providing of closing details not available at the time of the sending of the Securities Financing Instruction, for example, termination date for an open repo,
• the providing of a new rate, for example, a repo rate,
• the rollover of a position extending the closing or maturity date.

The account owner/servicer relationship may be:

• a global custodian which has an account with a local custodian, or
• an investment management institution which manage a fund account opened at a custodian, or
• a broker which has an account with a custodian, or
• a central securities depository participant which has an account with a central securities depository, or
• a central securities depository which has an account with a custodian, another central securities depository or another settlement market infrastructure, or
• a central counterparty or a stock exchange or a trade matching utility which need to instruct the settlement of securities financing transactions to a central securities depository or another settlement market infrastructure.

Usage

The message may also be used to:

• re-send a message previously sent,
• provide a third party with a copy of a message for information,
• re-send to a third party a copy of a message for information

using the relevant elements in the Business Application Header.

SctiesFincgModInstr