Swift Promotes New Settlement Instructions Format

james-wills-swift

In just over a year from now, November 2013, Swift expects all standing settlement instructions (SSIs) to be migrated to a new format, MT 670/MT 671, which first launched last November. The current format, MT 074, which operates as a broadcast message, will still be available for the broadcast function, but will no longer be used for SSIs.

The MT 670/MT 671 format will work with the ISO 15022 securities messaging format and will make greater automation of settlement possible, according to Swift

To continue reading...

You need to sign in to use this feature. If you don’t have a WatersTechnology account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: