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Settlement Instructions <T> message – FIX 4.4 – FIX Dictionary

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FIX 4.4 : Settlement Instructions <T> message

Structure | Related Messages

Description

The Settlement Instructions <T> message provides the broker's, the institution's, or the intermediary's instructions for trade settlement. This message has been designed so that it can be sent from the broker to the institution, from the institution to the broker, or from either to an independent "standing instructions" database or matching system or, for CIV, from an intermediary to a fund manager.

The Settlement Instructions <T> message can be used in one of three modes (SettlInstMode <160>):

  1. To provide "standing instructions" for the settlement of trades occurring in the future. The message could either be sent in an 'unsolicited' fashion (i.e. a 'push'-style update from one firm to that firm's counterparties) or in response to a Settlement Instruction Request <AV> message. In either of these scenarios, this message can provide multiple settlement instructions.
  2. To reject a Settlement Instruction Request <AV> message (e.g. unable to process request, no matching settlement instructions found).
  3. To provide settlement instructions for a specific Order with a single account either as overriding or standing instructions to support matching. The ClOrdID <11> field should be used to link the settlement instructions to the corresponding Order message.

See VOLUME 7 - "PRODUCT: COLLECTIVE INVESTMENT VEHICLES"

The Settlement Instruction detail can be either explicitly specified (via the <SettlInstructionsData> component block) or can exist within an independent standing instructions database and can be referenced via the StandInstDbType <169>, StandInstDbName <170>, and StandInstDbID <171> fields.

See Appendix 6-H: Use of <SettlInstructions> Component Block for further details regarding the construction and formatting of settlement instruction details.

Structure

Tag Field Name Req'd Comments
<MessageHeader> Y MsgType <35> = T
777 SettlInstMsgID Y

Unique identifier for this message
791 SettlInstReqID N

Only used when this message is used to respond to a settlement instruction request (to which this ID refers)
160 SettlInstMode Y

1=Standing Instructions, 2=Specific Allocation Account Overriding, 3=Specific Allocation Account Standing, 4=Specific Order, 5=Reject SSI request

792 SettlInstReqRejCode N

Required for SettlInstMode <160> ='5'. Used to provide reason for rejecting a Settlement Instruction Request <AV> message.

58 Text N

Can be used to provide any additional rejection text where rejecting a Settlement Instruction Request <AV> message.

354 EncodedTextLen N
355 EncodedText N
11 ClOrdID N

Required for SettlInstMode <160>='4'.

60 TransactTime Y

Date/time this message was generated
778 NoSettlInst N

Required except where SettlInstMode <160> is 5=Reject SSI request

=> 162 SettlInstID N

Unique ID for this settlement instruction.

Required except where SettlInstMode <160> is 5=Reject SSI request

=> 163 SettlInstTransType N

'New', 'Replace', 'Cancel' or 'Restate'

Required except where SettlInstMode <160> is 5=Reject SSI request

=> 214 SettlInstRefID N

Required where SettlInstTransType <163> is 'Cancel' or 'Replace'

=> Component Block - <Parties> N

Insert here the set of "<Parties>" (firm identification) fields

Used here for settlement location.

Also used for executing broker for CIV settlement instructions
=> 54 Side N

Can be used for SettlInstMode <160>='1' if SSIs are being provided for a particular side.
=> 460 Product N

Can be used for SettlInstMode <160>='1' if SSIs are being provided for a particular product.
=> 167 SecurityType N

Can be used for SettlInstMode <160>='1' if SSIs are being provided for a particular security type (as alternative to CFICode <461>).

=> 461 CFICode N

Can be used for SettlInstMode <160>='1' if SSIs are being provided for a particular security type (as identified by CFI code).
=> 168 EffectiveTime N

Effective (start) date/time for this settlement instruction.

Required except where SettlInstMode <160> is 5=Reject SSI request

=> 126 ExpireTime N

Termination date/time for this settlement instruction.
=> 779 LastUpdateTime N

Date/time this settlement instruction was last updated (or created if not updated since creation).

Required except where SettlInstMode <160> is 5=Reject SSI request

=> Component Block - <SettlInstructionsData> N

Insert here the set of "<SettlInstructionsData>" fields

=> 492 PaymentMethod N

For use with CIV settlement instructions
=> 476 PaymentRef N

For use with CIV settlement instructions
=> 488 CardHolderName N

For use with CIV settlement instructions
=> 489 CardNumber N

For use with CIV settlement instructions
=> 503 CardStartDate N

For use with CIV settlement instructions
=> 490 CardExpDate N

For use with CIV settlement instructions
=> 491 CardIssNum N

For use with CIV settlement instructions
=> 504 PaymentDate N

For use with CIV settlement instructions
=> 505 PaymentRemitterID N

For use with CIV settlement instructions
<MessageTrailer> Y

 

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