The Settlement Obligation Report message provides a central counterparty, institution, or individual counterparty with a capacity for reporting the final details of a currency settlement obligation. The settlement obligation is intended to be used for auxiliary reporting of settlement details that will be conducted over SWIFT or CLS in order to affect the instructions. The Settlement Obligation Report message is designed to allow multiple FX deals to be aggregated and netted into a single instruction to simplify the reporting process.
The Settlement Obligation message can be used in one of two modes (SettlObligMode <1159>):
1) Preliminary the instructions have been generated prior to final cutoff and information is still subject to change up until cutoff has been reached
2) Final the instructions have been generated with final settlement information which cannot subsequently be changed for the current settlement period
See VOLUME 7 - "PRODUCT: FOREIGN EXCHANGE" section for more detailed usage notes for this message type.
Settlement Obligation Report