Category 3: Foreign exchange, money markets and derivatives
MT370 Netting Position Advice
Written and maintained by ZagTrader. Last reviewed . How this page is sourced and checked
The MT370 advises the netting position of one currency between two institutions, resulting from foreign exchange, non-deliverable forward, option and other trades, together with the settlement information for that currency. Financial and non-financial institutions can send it to each other.
- Message type
- MT370
- Category
- 3
- Status
- In the current standard
- ISO 20022
- No direct equivalent
What MT370 is used for
When two parties net their trades, each side sends an MT370 for the currency: the party that is owed money says where it wants to be paid, and the party that owes says how it will pay. The paying party then sends the payment, for example an MT202 to its correspondent in that currency. Field 23G carries NEWM, AMND or CANC.
The MT370 uses the generic layout with 16R/16S blocks and qualifiers, like the MT380 and MT381.
- Sent by
- One of the two netting parties
- Sent to
- The other netting party
Fields
This is a catalogue entry: the field-by-field structure is not shown here because we publish structures only where we have checked them against public sources. Paste an MT370 into the parser to see each field decoded with its tag, name and value.
ISO 20022
No ISO 20022 equivalent: Swift’s MT and MX equivalence table lists none for this message. Treasury messages in category 3 were not part of the CBPR+ migration of cross-border payment instructions and remain MT messages on Swift.
All MT messages · Category 3 messages · ISO 20022 messages · Codes · Troubleshooting