Category 5: Securities markets
MT505 Collateral Substitution
Written and maintained by ZagTrader. Last reviewed . How this page is sourced and checked
The MT505 is used to replace collateral that is already held. A collateral giver sends it to propose a substitution, and a collateral taker sends it to request one; either side can use it to cancel a substitution message sent earlier.
- Message type
- MT505
- Category
- 5
- Status
- In the current standard
What MT505 is used for
A giver typically substitutes when it needs a security back, for example to deliver it on a sale. The receiver answers with an MT507 accepting or rejecting the substitution. Substitution has its own message: an MT503 claim must not be used to start one.
- Sent by
- The collateral giver or taker, 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 MT505 into the parser to see each field decoded with its tag, name and value.
MT505 in ISO 20022
Swift’s equivalence tables map the MT505 to colr.010 (collateral substitution request), with colr.005 for the cancellation request.
All MT messages · Category 5 messages · ISO 20022 messages · Codes · Troubleshooting