Category 5: Securities markets
MT504 Collateral Proposal
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The MT504 is sent by a collateral giver (or its collateral manager) to the collateral taker to propose new collateral when an exposure starts, or additional collateral when the exposure changes. It may answer an MT503 claim or be sent on the giver’s own initiative, and the giver also uses it to cancel a proposal sent earlier.
- Message type
- MT504
- Category
- 5
- Status
- In the current standard
What MT504 is used for
The taker accepts or rejects the proposal with an MT507, which can also carry the settlement details for the proposed collateral. Once agreed, the collateral moves through the normal settlement instructions (MT540 to MT543) or a cash payment, depending on the collateral type.
- Sent by
- The collateral giver or its collateral manager
- Sent to
- The collateral taker 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 MT504 into the parser to see each field decoded with its tag, name and value.
MT504 in ISO 20022
Swift’s equivalence tables map the MT504 to colr.007 (collateral proposal), with colr.005 for the cancellation request.
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