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A MT304 message is considered an "Advice/Instruction of a Third Party Deal" and it used to advise of or instruct the settlement of a third party foreign exchange deal. For example, an asset manager who executed a FX transaction with a broker would send a MT304 instruction to the custodian bank of
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The first digit (3) represents the category. A category denotes messages that relate to particular financial instruments or services such as precious metals (6), treasury (3), or traveller's cheques (8). The category denoted by 3 is treasury
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The third digit (3) is the type that denotes the specific message. There are several hundred message types across the categories. The type represented by 3 is a notification.
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The third digit (4) is the type that denotes the specific message. There are several hundred message types across the categories. The type represented by 4 is a notification.
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SWIFT messages consist of five blocks of data including three headers, message content, and a trailer. Message types are crucial to identifying content.
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The second digit (0) represents a group of related parts in a transaction life cycle. The group indicated by 0 is a financial institution transfer.
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The second digit (0) represents a group of related parts in a transaction life cycle. The group indicated by 0 is a financial institution transfer.
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All SWIFT messages include the literal "MT" (message type/text). This is followed by a three-digit number that denotes the message
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34:. In many instances, SWIFT message types between custodians follow the ISO standard. This was later supplemented by a
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message types are different in their structure than the SWIFT MT, the naming convention remains the same.
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A MT103 message is considered a "Single
Customer Credit Transfer" and is used to instruct a funds transfer.
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network. The original message types were developed by SWIFT and a subset was retrospectively made into an
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The first digit (1) represents the category. The category denoted by 1 is customer payments and cheques.
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The table below shows the different categories and the message type descriptions.
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are the format or schema used to send messages to financial institutions on the
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Society for
Worldwide Interbank Financial Telecommunication
374:"ISO15022 Data Field Dictionary - Index of Messages"
359:Message standards supported by the SWIFT network:
399:. Basingstoke, Hampshire: Springer. p. 27.
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253:Treasury markets – metals and syndications
65:. Consider the following two examples.
362:"Standards MT & MX Equivalence Table"
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16:International banking protocol messages
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397:Global Custody and Clearing Services
304:Cash management and customer status
270:Documentary credits and guarantees
454:"List of all SWIFT Messages Types"
430:"List of all SWIFT Messages Types"
371:Message types defined in ISO15022
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185:Financial institution transfers
339:(standard format for SWIFT IDs)
118:Overview of SWIFT MT categories
395:McGill, R.; Patel, N. (2008).
168:Customer payments and cheques
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219:Collection and cash letters
500:
137:Number of message types
46:Composition of MT number
332:Delivery versus payment
367:. SWIFT. 28 July 2017.
287:Traveller's cheques
38:based version under
236:Securities Markets
20:SWIFT message types
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202:Treasury markets
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461:. Retrieved
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437:. Retrieved
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314:ISO 15022 MT
134:Description
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28:ISO standard
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463:2020-01-07
458:Paiementor
439:2020-01-07
434:Paiementor
382:References
419:swift.com
343:MT202 COV
320:ISO 15022
318:Although
128:Category
94:Example 2
69:Example 1
40:ISO 20022
32:ISO 15022
478:Category
337:ISO 9362
326:See also
55:category
78:markets
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376:. ISO.
73:MT304
365:(PDF)
348:MT940
99:MT103
59:group
24:SWIFT
401:ISBN
63:type
61:and
307:21
298:MT9
290:11
281:MT8
273:29
264:MT7
256:22
247:MT6
239:60
230:MT5
222:17
213:MT4
205:27
196:MT3
188:18
179:MT2
171:19
162:MT1
145:MT0
36:XML
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