BEA SWIFT Adapter manual Swift

Page 4

SWIFT

S.W.I.F.T. SCRL is the abbreviation for Society for Worldwide Interbank Financial Telecommunication, Societé Coopérative à Responsibilité Limitée. SWIFT’s purpose is to provide technology-based communication services across all financial markets through member banks so that they can profitably meet their own and their end-customers’ needs.

In a financial perspective, standards enable financial institutions to move from manual to automated initiation and processing of financial transactions. The message text standards have been developed to support the business transactions of S.W.I.F.T. users. To ensure that the multitude of practices and conventions of users are in harmony, financial messages transmitted via the S.W.I.F.T. network must adhere to the message text standards.

There are important benefits because of standardization of messages. These include:

automation,

reduced risk of errors and misunderstandings, reduced operating costs,

improved productivity,

increased efficiency in processing of messages (routing and preparation), faster and more cost effective account reconciliation, and

the ability to maintain more comprehensive management information.

SWIFT messages are represented by a three-digit number, for example, MT 112.

The first digit defines the message category, indicating the general usage of the message. Here, Category 1 refers to Customer Payments & Cheques.

The second digit of the message type indicates the message group. For example, Message group 1 refers to Cheque Payments.

The third digit indicates the particular type of message, representing a specific function of the message. In our example, Message type 2 refers to Status of a Request for Stop Payment of a Cheque.

See Also:

Terminology

Creating a SWIFT Format

Entering the SWIFT Specification

SWIFT External Message UI

SWIFT External Format UI

Image 4

Contents Swift Adapter User’s Guide Entering the Swift Specification Exporting a Swift Message Format to Library Swift Terminology Swift Configuration Swift message libraryCustom Swift messages Standard-versionGSCC SRG 2008/standard-version Creating a Swift Format Page Page Page Page Page See Also Creating a Swift Format from an empty message format Page Page Entering the Swift Specification Swift Sequence Sequence Without DelimitersSequence With Start and End Delimiters Repetitive Optional Subsequence A1 LinkagesSequence With Start Delimiter Statu Tag Field Name Content/Options Adding a Swift Sequence Adding a Swift Sequence without DelimitersPage Adding a Swift Sequence with Start and End Delimiters Page Adding a Swift Sequence with Start Delimiter Adding a Swift Field Adding a New Generic Field Add the Options for the field Adding Field Options Entering an Option Format Restrictions on Length Types of Characters AllowedExamples Entering an Option Specification Specification Sub-Field1 Sub-Field2 Sub-Field2 Removing Field OptionsAdding Qualifiers and Associating them with Options Page See Also Specifying or Option for a Qualifier Adding a Non-Generic Field See Also Mapping Formats with Specification Sub-fields Specifying Field Definition and UsagePage Page Page Representing Complex Formats in Designer Conventions Field 35B Field 82a Option a Field 82a Option B Field 41a Option D Adding Copy of Fields See Also Updating a Swift Field Page See Also Customize Field Page Removing a Swift Field Adding validations for a sub-field DatePage Specifying properties common for all validations Specifying Error Code Adding Code validation Specifying CommentRemoving Codes Adding T26 Validation Adding T14 ValidationAdding Date Validation Specifying Date FormatAdding Currency Code Validation Adding Country Code ValidationAdding Time Offset Validation Adding BIC validationSee Also Adding C05 validation Adding Decimal ValidationAdding Party Identification Validation Specifying Party Identification CodesRemoving Validations from a Sub Field Removing CodesSee Also Swift External Format UI External Format Swift Header/TrailerSwift Input Header/Trailer Page Swift Output Header/Trailer Swift Input/Output Header/Trailer Page Fisc Header Swift Format Options See Also Swift User Message Data Page Swift Sequence Info Swift Field Info Generic Swift Field Qualifier Info Swift Field Info Non-Generic Swift Sub Field Info System/Service Message Creating an empty Service/System message formatPage Click ‘Finish’ to create the System/Service message Page Adding a System Field Adding a Simple FieldPage Page Adding a Complex Field Fields Separated by OR/AND Adding a Group Deleting a Field/Group System Field DictionarySpecifying Validations for a Field Specifying Validations for a Sub-fieldExpanding/Collapsing Swift Fields Expanding Fields Exporting a Swift Message Format to Library Exporting a Swift Message Format Page Importing a Swift Message Format Sample Exported Html File ScopeRepetitive Optional Sequence A1 Linkages End Of Sequence A1 Linkages Qualifier