Description

PayManagementRequest <DY> message is used to communicate a future or expected payment to be made or received related to a trade or contract after its settlement.

It should be noted that this message, in the context of operational communication between investment managers and their brokers, is intended to agree and confirm on payment(s) to be made or received during the life of a contract.

Structure

Tag Field Name Req'd Comments
Component Block - <StandardHeader> Y MsgType <35>=DY
2812 PayRequestID Y
2811 PayRequestTransType Y
2810 PayRequestRefID N

Required for PayRequestTransType <2811>=1 (Cancel).

2807 CancelText N

May be used to provide reason for PayRequestTransType <2811>=1 (Cancel).

2809 EncodedCancelTextLen N

Must be set if EncodedCancelText <2808> field is specified and must immediately precede it.

2808 EncodedCancelText N

Encoded (non-ASCII characters) representation of the CancelText <2807> field in the encoded format specified via the MessageEncoding <347> field.

715 ClearingBusinessDate N

The business date of the request. This may carry the same date as the payment calculation date in PostTradePaymentCalculationDate <2825>.

60 TransactTime Y
58 Text N
354 EncodedTextLen N

Must be set if EncodedText <355> field is specified and must immediately precede it.

355 EncodedText N

Encoded (non-ASCII characters) representation of the Text <58> field in the encoded format specified via the MessageEncoding <347> field.

Component Block - <Instrument> N

May be included with minimal detail to identify the security or contract for which payments are to be made.

Component Block - <RelatedTradeGrp> N

May be included to identify the trade(s) for which payments are to be made. Each instance identifies a separate trade.

Component Block - <Parties> N

Identifies the parties to the contracts or trades. The account to be debited or credited is identified in the PostTradePayment component.

Component Block - <PostTradePayment> Y
Component Block - <SettlDetails> N
Component Block - <StandardTrailer> Y