SWIFT MT
SWIFT messages, developed by SWIFT Standards Laboratories Private Limited, consist of five blocks of data including three headers, message content, and a trailer. Message types are crucial to identifying content. All SWIFT messages include the literal "MT" (Message Type). This is followed by a 3-digit number that denotes the message category, group and type. Consider the following example, which is an order to buy or sell via a third party:
- Example MT304
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 Travelers Cheques (8). The category denoted by 3 is Treasury Markets.
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.
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.
Overview of SWIFT MT Categories:
| Message Type | Description |
|---|---|
| MT0xx | System Messages |
| MT1xx | Customer Payments and Cheques |
| MT2xx | Financial Institution Transfers |
| MT3xx | Treasury Markets |
| MT4xx | Collection and Cash Letters |
| MT5xx | Securities Markets |
| MT6xx | Treasury Markets - Metals and Syndications |
| MT7xx | Documentary Credits and Guarantees |
| MT8xx | Travellers Cheques |
| MT9xx | Cash Management and Customer Status |
Read more about this topic: SWIFT:Message Types
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