Why do category 5 messages use 16R and 16S?

ISO 15022 messages are built from blocks. 16R opens a block (for example GENL or TRADDET) and 16S closes it, so the same generic field can carry different meanings in different blocks.

Are MT5xx messages being replaced by ISO 20022?

Not on a fixed deadline. Securities messages stay on FIN next to their ISO 20022 equivalents; T2S uses ISO 20022 for directly connected participants.

Which MT messages settle a securities trade?

The settlement instructions MT540 to MT543, followed by status advices (MT548) and confirmations (MT544 to MT547).

Category 5

Category 5 MT messages: securities markets

Written and maintained by ZagTrader. Last reviewed 21 October 2026. How this page is sourced and checked

Category 5 is the largest MT category and the one built on ISO 15022: generic fields with qualifiers (for example :98A::SETT//) grouped in blocks opened by 16R and closed by 16S. It covers the whole securities chain.

Trade initiation and confirmation: orders (MT502), trade status (MT509), execution advice (MT513), allocation (MT514), client and market confirmations (MT515, MT518) and affirmation (MT517). Settlement: instructions MT540 to MT543, confirmations MT544 to MT547, status MT548, allegements MT578 and MT586. Custody reporting: holdings MT535, transactions MT536, pending transactions MT537. Corporate actions: MT564 to MT568. Collateral and triparty: MT503 to MT507, MT527, MT558, MT569.

Securities messages were not part of the November 2025 payments deadline and remain in use on FIN alongside their ISO 20022 equivalents (sese, semt, seev, setr and colr). T2S and its directly connected participants use ISO 20022.

55 message types in the current standard (29 with a full page).

Trade initiation and confirmation

MT502
Order to Buy or Sell
Order to buy or sell securities, or to subscribe to or redeem fund units; also cancels and replaces.
Full page
MT509
Trade Status Message
Status of an order, cancellation, replacement or trade confirmation, with reason codes.
Full page
MT513
Client Advice of Execution
Broker to client advice that an order was executed, with fills and the quantity still open.
Full page
MT514
Trade Allocation Instruction
Client to broker instruction allocating part of a block trade to one account, one allocation per message.
Full page
MT515
Client Confirmation of Purchase or Sale
Broker to client trade confirmation (contract note): price, quantity, amounts and settlement details.
Full page
MT516
Securities Loan Confirmation
Confirms a new securities loan, a partial recall or return, or a close-out.
Catalogue
MT517
Trade Confirmation Affirmation
Client to broker affirmation of a trade confirmation (MT515): agrees the trade details.
Full page
MT518
Market-Side Securities Trade Confirmation
Broker to counterparty (market-side) trade confirmation, for comparison or to allege a trade.
Full page
MT576
Statement of Open Orders
A broker’s list of a client’s orders not yet agreed or fully executed.
Catalogue

Settlement and reconciliation

MT524
Intra-Position Instruction
Instructs a move of securities between sub-balances of the same holding.
Catalogue
MT530
Transaction Processing Command
Changes a processing attribute of a settlement instruction, such as hold, release or priority.
Catalogue
MT540
Receive Free
Receive free of payment (FOP): receive securities without paying cash, for transfers and collateral.
Full page
MT541
Receive Against Payment
Receive against payment (RVP): receive securities and pay cash, typically for a purchase.
Full page
MT542
Deliver Free
Deliver free of payment (FOP): deliver securities without receiving cash, for transfers and collateral.
Full page
MT543
Deliver Against Payment
Deliver against payment (DVP): deliver securities and receive cash, typically for a sale.
Full page
MT544
Receive Free Confirmation
Confirms that securities were received free of payment: quantity, effective settlement date and account.
Full page
MT545
Receive Against Payment Confirmation
Confirms that securities were received against payment: quantity, effective settlement date and cash debited.
Full page
MT546
Deliver Free Confirmation
Confirms that securities were delivered free of payment: quantity, effective settlement date and account.
Full page
MT547
Deliver Against Payment Confirmation
Confirms that securities were delivered against payment: quantity, effective settlement date and cash credited.
Full page
MT548
Settlement Status and Processing Advice
Status of a settlement instruction: accepted, rejected, matched, unmatched, pending or failing, with reason codes.
Full page
MT549
Request for Statement/Status Advice
Asks the custodian for a statement (MT535, MT536, MT537...) or a status message (MT548...).
Catalogue
MT578
Settlement Allegement
Counterparty has instructed against your account and your matching instruction is missing.
Full page
MT508
Intra-Position Advice
Confirms that securities moved between sub-balances (statuses) of one holding.
Catalogue
MT538
Statement of Intra-Position Advices
Statement of all movements between sub-balances in an account over a period.
Catalogue
MT586
Statement of Settlement Allegements
List of open settlement allegements on a securities account, complete or changes only.
Full page
MT575
Report of Combined Activity
Combined cash and securities activity for a period, per cash account and currency, with balances.
Full page

Custody statements

MT535
Statement of Holdings
Custody or accounting statement of the securities held on a safekeeping account at a point in time.
Full page
MT536
Statement of Transactions
Statement of the securities movements booked on an account during a period, grouped by instrument.
Full page
MT537
Statement of Pending Transactions
Statement of the open (unsettled) instructions on an account, with their statuses and pending reasons.
Full page

Corporate actions

MT564
Corporate Action Notification
Corporate action announcement: event details, dates, options, eligible balance and entitlement.
Full page
MT565
Corporate Action Instruction
Election on a corporate action: chosen option, quantity and account, sent in reply to an MT564.
Full page
MT566
Corporate Action Confirmation
Confirmation of the cash and securities actually posted for a corporate action.
Full page
MT567
Corporate Action Status and Processing Advice
Status of a corporate action instruction, a cancellation request or the event itself, with reason codes.
Full page
MT568
Corporate Action Narrative
Free-text information about a corporate action, linked to the event by its CORP reference.
Full page

Collateral and securities lending

MT503
Collateral Claim
Calls for new or additional collateral, or asks for collateral to be returned.
Catalogue
MT504
Collateral Proposal
The collateral giver proposes new or additional collateral for an exposure.
Catalogue
MT505
Collateral Substitution
Proposes or requests the swap of collateral already held for other collateral.
Catalogue
MT506
Collateral and Exposure Statement
Reports the valuation of collateral, exposure or both between giver and taker.
Catalogue
MT507
Collateral Status and Processing Advice
Accepts, rejects or reports the status of a collateral claim, proposal or substitution.
Catalogue
MT526
General Securities Lending/Borrowing Message
Lists lendable securities, requests a borrow, notifies returns or asks to hold securities.
Catalogue
MT527
Triparty Collateral Instruction
Instruction to a triparty agent to open, change or close a collateralised exposure (repo, loan, margin).
Full page
MT558
Triparty Collateral Status and Processing Advice
The triparty agent reports the status and valuation of a collateral instruction.
Catalogue
MT569
Triparty Collateral and Exposure Statement
The triparty agent’s statement of exposures and the collateral allocated against them.
Catalogue
MT581
Collateral Adjustment Message
Claims or notifies a change in collateral after the value of securities on loan moves.
Catalogue

Registration

MT500
Instruction to Register
Asks the custodian to register, deregister or re-register securities with the registration provider.
Catalogue
MT501
Confirmation of Registration or Modification
Confirms that a registration, deregistration or change of registered client details is done.
Catalogue
MT510
Registration Status and Processing Advice
Reports the status of a registration instruction, the registration process or a cancellation request.
Catalogue
MT519
Modification of Client Details
Asks for registered client details to be changed at the registration provider.
Catalogue

Common group and other messages

MT590
Advice of Charges, Interest and Other Adjustments
Advises charges, interest or other adjustments booked to an account (securities).
Catalogue
MT591
Request for Payment of Charges, Interest and Other Expenses
Asks another institution to pay charges, interest or expenses (securities).
Catalogue
MT592
Request for Cancellation
Asks the receiver to cancel an earlier securities message.
Catalogue
MT595
Queries
Asks a question about an earlier securities message.
Catalogue
MT596
Answers
Answers a query or cancellation request about a securities message.
Catalogue
MT598
Proprietary Message
Envelope for bilaterally agreed content (securities).
Catalogue
MT599
Free Format Message
Free text about securities matters, for queries and notices that no structured message covers.
Full page

Category 5 questions

Why do category 5 messages use 16R and 16S?: ISO 15022 messages are built from blocks. 16R opens a block (for example GENL or TRADDET) and 16S closes it, so the same generic field can carry different meanings in different blocks.
Are MT5xx messages being replaced by ISO 20022?: Not on a fixed deadline. Securities messages stay on FIN next to their ISO 20022 equivalents; T2S uses ISO 20022 for directly connected participants.
Which MT messages settle a securities trade?: The settlement instructions MT540 to MT543, followed by status advices (MT548) and confirmations (MT544 to MT547).

Other categories

All MT messages · ISO 20022 messages · Codes · Troubleshooting