What is the difference between MT503 and MT504?

The MT503 asks for collateral (or for collateral back). The MT504 answers or anticipates that by proposing specific collateral that the giver intends to deliver.

Which message accepts or rejects a collateral claim?

The MT507 Collateral Status and Processing Advice, sent by the receiver of the claim.

Category 5: Securities markets

MT503 Collateral Claim

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

The MT503 is the claim message of bilateral collateral management. A collateral taker (or its collateral manager) sends it to ask for collateral at the start of an exposure or for more collateral when the exposure grows; a collateral giver sends it to ask for collateral back or to recall it when the underlying exposure ends.

Message type: MT503
Category: 5
Status: In the current standard
ISO 20022: colr.003, colr.005

What MT503 is used for

The answer to a claim is usually an MT504 collateral proposal from the giver, and the receiver of any claim, proposal or substitution reports its decision with an MT507. The valuation that supports a claim travels separately in an MT506; the MT506 itself must not be used to claim.

Field 23G is NEWM for a new claim and CANC to cancel one sent earlier; subfunctions DUPL, COPY and CODU mark duplicates and information copies. The MT503 is not used to start a substitution: that is the job of the MT505.

Sent by: The collateral taker or giver, or its collateral manager
Sent to: The other side of the collateral agreement, or its collateral manager

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 MT503 into the parser to see each field decoded with its tag, name and value.

Decode an MT503 in the parser

MT503 in ISO 20022

Swift’s equivalence tables map the MT503 to colr.003 (margin call request), with colr.005 for the cancellation request.

MT503 questions

What is the difference between MT503 and MT504?: The MT503 asks for collateral (or for collateral back). The MT504 answers or anticipates that by proposing specific collateral that the giver intends to deliver.
Which message accepts or rejects a collateral claim?: The MT507 Collateral Status and Processing Advice, sent by the receiver of the claim.

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