SWIFT Release November 2021 – Information on production launch


Clearstream Banking AG, Frankfurtinforms customers about enhancements in settlement messages of category 5 (“Securities Markets”) due to the upcoming SWIFT Release in November 2021. The release will be deployed on

the weekend 20 and 21 November 2021
for business day, Monday, 22 November 2021

along with the T2S Release 5.2.

CBF Service – Enhancements for the SWIFT Release November 2021

Based on the analysis CBF has conducted for the SWIFT November Release 2021 on settlement messages (MT5xx), CBF will enhance the service scope for customers acting in ICP mode. The newly introduced tags will be available via the automated connectivity channels SWIFT, MQ or File Transfer (FT). The new fields are offered as an option allowing an implementation on the customers demand.

Delivery instructions and related settlement confirmations will be enhanced by a flag for the buy-in procedure

With the implementation of T2S Release 3.0, CBF introduced the buy-in indicator in the CASCADE instruction management. This flag can be used via CASCADE Online functonality (HOST / PC) and the automated connectivity channels offered by CBF. Customers can provide the value “BYIY” in the MT54x messages using :22F::SETR/COEX/BYIY. The CBF settlement reporting informs about this flagging in field “Declaration Details Narrative” (:70E:).

With the SWIFT Release in November 2021, the value “BYIY” will be enabled in delivery instructions and the related settlement confirmations. That is in:

  • MT542 Deliver Free Instruction;
  • MT543 Deliver Against Payment Instruction;
  • MT546 Deliver Free Confirmation; and
  • MT547 Deliver Against Payment Confirmation.

In future, in "Mandatory Sequence E Settlement Details" using the qualifier "Type of Settlement Transaction Indicator" (:22F::SETR) the value “BYIY” can be transmitted by customers to CBF without adding the data source scheme “COEX”.

Status code “Awaiting Next Settlement Cycle” will be decommissioned

In future, in the settlement reporting the value “CYCL”, which stands for “Awaiting Next Settlement Cycle”, cannot be reported any longer as SWIFT will remove this code from their scope. Following the harmonisation requirements, the value “FUTU” will be used as of November 2021. In line with the current reporting, the value is represented along with the qualifier “PEND” (Pending Reason) using field :24B: in the following message types:

  • MT537 OTC Statement of Pending Transactions, and
    MT537 SE Statement of Pending Transactions located in
    “Optional Repetitive Subsequence C3a Reason”; and
  • MT548 Settlement Status and Processing Advice located in
    “Optional Repetitive Subsequence A2a Reason”.

Timestamps for acknowledgement and matching will be removed from field “Additional Information Narrative”

As an interim solution CBF introduced in field “Settlement Instruction Processing Narrative“ (:70E:) the timestamps for acknowledgement (ACTM) and matching (MTTM) in the following message types:

  • MT536 Statement of Transactions and
    MT537 OTC Statement of Pending Transactions using the qualifier “TRDE“; and
  • MT548 Settlement Status and Processing Advice using the qualifier “SPRO“.

With the implementation of the November Release 2020, standardised qualifiers for the acknowledgement and matching time stamps were introduced in field :98C: (“Date/Time”).

  • ASTS is used to indicate the “Acknowledged Status Timestamp” (:98C::ASTS); and
  • MTCH is used to show the “Matched Status Timestamp” (:98C::MTCH).

With Announcement T2S Release 4.2 (D20038), CBF advised that during an interim period, customers in ICP mode can either use the details provided via the narrative or the dedicated tags. After 22 November 2021, the option to provide the time stamps to customers via field :70E: will no longer be available.

Receive / deliver indicator will be aligned in CBF settlement allegements reporting

Using the message types "MT578 Settlement Allegement" and "MT586 Statement of Allegements", customers can stay informed about an incoming delivery or receipt instruction if no settlement instruction is available for matching or no allocation can be made due to deviating data in the matching criteria.

Currently, CBF uses different rules in the allegement message types when providing the values "RECE" and "DELI". With the implementation of the release in November 2021, the processes will be adapted so that in future the report of the information in MT586 will also be based on the SWIFT standard. At present, this standard is already fulfilled in MT578. This means that in both message types, the field "Receive / Deliver Indicator" (:22H::REDE) will indicate if the message refers to a delivery (value = "DELI") or to a receipt (value = "RECE") instruction potentially to be matched by the account owner receiving this message.

Customer simulation

The simulation activities will be conducted in a “free simulation mode”. The already established static data for CBF accounts and the related connectivity settings in the CBF customer simulation environment (IMS23) remain unchanged. The customer SWIFT interface from where the test messages will be sent and received must support the “SWIFT future mode”.

CBF will maintain its link to the T2S Pre-Production environment (UTEST) so that customers can test on their demand. According to the ECB planning, the updated software for the T2S Release 5.2 will be installed on Friday, 24 September 2021 in the T2S Pre-Production Environment (UTEST). Immediately after the software deployment of T2S, CBF will start to update its software in IMS23 and will close the simulation environment until Thursday,
22 October 2021. After that, IMS23 will be available for testing. A dedicated webpage provides information on the availability of the CBF customer simulation environment (IMS23).

Further information

For further information, customers may contact Clearstream Banking Client Services or their Relationship Officer. Particular questions related to this Release Information will be routed to the experts of the CBF Release Management team.


1. This Announcement is published by Clearstream Banking AG (CBF), registered office at Mergenthalerallee 61, 65760 Eschborn, Germany, registered with the Commercial Register of the District Court in Frankfurt am Main, Germany, under number HRB 7500.