MT575 Report of Combined Activity

When MT575 is used

An account servicer sends the MT575 to the account owner or its agent: typically a custodian or sub-custodian to an investment manager, a broker or a global custodian. It suits clients who reconcile cash and securities together, for example a fund accountant who wants to see the cash leg of every trade next to the securities leg. The report can cover one safekeeping account linked to one or several cash accounts, or one cash account linked to several safekeeping accounts. The frequency is agreed between the two parties and shown in 22F::SFRE.

The report is built around cash. Sequence B (CASHACCT) is repeated per cash account; inside it, sequence B1 (ACTCURR) is repeated per currency and carries the first opening and final closing balances (field 93D). Each movement is one B1a (ACTINFO) block with its references (B1a1) and either cash-only details (B1a2, CASHDET: for example interest, fees, a cash dividend or a cash transfer) or cash-and-securities details (B1a3, CASHSECDET: for example a trade settled against payment). Movements of securities without cash, such as a stock dividend or a free delivery, go in sequence C (FREEASS).

Only booked activity belongs in the report: transactions settled or contractually posted to the account in the period. Pending instructions are reported in the MT537, and settled transactions with a future settlement date are left out. If nothing happened, the report still arrives, with the activity flag 17B::ACTI//N in sequence A (or per currency in B1).

The MT575 overlaps with other statements. The MT536 Statement of Transactions reports securities movements per safekeeping account; the MT940 or MT950 reports cash movements per cash account. A client that receives an MT575 may not need both. Check that the totals agree when you receive several: the cash leg in a B1a3 block should match the cash booking in the MT940 or MT950 for the same day.

Use of the MT575 requires registration in a Swift Message User Group, so not every custodian offers it. Ask before you design a reconciliation around it.

MT575 format: sequences and fields

Rules worth knowing

• Only booked activity is reported. Pending transactions belong in the MT537; settled transactions with a future settlement date are not reported.
• Every currency with activity must be reported in its own B1 block. With no activity at all, sequence A carries 17B::ACTI//N; a cash account with no activity in a currency carries ACTI//N in that B1 block.
• Each B1a movement holds either cash-only details (CASHDET) or cash-and-securities details (CASHSECDET). Securities movements without cash go in sequence C.
• In a multi-page report the intermediary balances (INOP, INCL) carry the balance from page to page, while the first opening balance (FIOP) opens the period and the final closing balance (FICL) closes it.
• A movement reversed later appears again with 25D::MOVE//REVE. Net the reversal against the original entry rather than treating it as new activity.

MT575 example

The custodian CUSTAEADXXX sends ZagTrader Test Bank its daily combined activity report for 22 October 2026. On the AED cash account linked to safekeeping account ZAG-SAFE-0001, two movements were booked: the proceeds of a sale of 10,000 shares delivered against payment (instructed with an MT543, reference ZT2610200123), and a cash dividend on another holding.

{1:F01CUSTAEADAXXX0000000000}{2:I575ZAGTAEADXXXXN}{4:
:16R:GENL
:28E:1/ONLY
:20C::SEME//CA575-261022-01
:23G:NEWM
:98C::PREP//20261022210000
:69A::STAT//20261022/20261022
:22F::SFRE//DAIL
:22F::CODE//COMP
:97A::SAFE//ZAG-SAFE-0001
:17B::ACTI//Y
:16S:GENL
:16R:CASHACCT
:97A::CASH//ZAG-CASH-AED-01
:16R:ACTCURR
:11A::ACCT//AED
:17B::ACTI//Y
:93D::FIOP//1000000,
:93D::FICL//1266500,
:16R:ACTINFO
:16R:LINK
:13A::LINK//543
:20C::RELA//ZT2610200123
:16S:LINK
:16R:CASHSECDET
:19A::PSTA//AED254500,
:36B::PSTA//UNIT/10000,
:35B:ISIN AEZAGT000016
:22F::TRAN//SETT
:22H::REDE//DELI
:22F::SETR//TRAD
:98A::ESET//20261022
:98A::SETT//20261022
:98A::TRAD//20261020
:16S:CASHSECDET
:16S:ACTINFO
:16R:ACTINFO
:16R:LINK
:20C::CORP//DVCA2610ZAG01
:16S:LINK
:16R:CASHDET
:19A::PSTA//AED12000,
:36B::UNDL//UNIT/40000,
:35B:ISIN AEZAGT000024
:22F::TRAN//CORP
:22H::CRDB//CRED
:22F::CAEV//DVCA
:98A::ESET//20261022
:16S:CASHDET
:16S:ACTINFO
:16S:ACTCURR
:16S:CASHACCT
-}

Line by line

Opening balance plus the two credits equals the closing balance; check this sum on every report you load.

A free receipt of bonus shares on the same day would appear in sequence C (FREEASS), not under the cash account.

All BICs, references and accounts are made up; the ISINs have valid check digits.

Common errors and rejects

1. Opening balance plus movements does not equal the closing balance

   Usually a page is missing (28E shows MORE but no LAST arrived) or a reversal (25D::MOVE//REVE) was booked twice. Rebuild the report from all pages and net reversals against the original entry.

2. Movements cannot be matched to instructions

   Movements you did not instruct (fees, interest, income) carry ASRF or CORP, not RELA. Match those on CORP with the MT566, and on ASRF with the cash statement.

3. Pending trades missing from the report

   By design: the MT575 reports booked activity only. Open instructions are in the MT537 and statuses in the MT548.

4. Cash and securities statements disagree with the MT575

   Compare the cash leg with the MT940 or MT950 and the securities leg with the MT536 for the same period. Differences are often timing: a booking in the last minutes of the day can fall in different periods if the reports are cut at different times.

   How to fix it

5. Report not received at all

   The MT575 needs Message User Group registration and must be agreed with the custodian. If the custodian has not set it up, you receive separate securities and cash statements instead.

ISO 20022

There is no direct ISO 20022 equivalent of the MT575: Swift’s MT and MX equivalence table lists none. In ISO 20022 the same information is reported in separate messages: securities movements in statements such as semt.017 and cash movements in statements such as camt.053.

Securities messages were not part of the November 2025 payments deadline. The MT575 remains available on FIN for custodians and clients that have agreed to use it.

Related messages

• MT536Statement of Transactions
• MT537Statement of Pending Transactions
• MT535Statement of Holdings
• MT940Customer Statement Message
• MT950Statement Message
• MT566Corporate Action Confirmation
• MT548Settlement Status and Processing Advice
• semt.017Securities Transaction Posting Report
• camt.053Bank to Customer Statement

• Header, account, holdings, balances, prices, transactions and pending items, and how to reconcile them.

Codes used in MT575

• DVCA
• TRAD

MT575 questions

What is an MT575?

A Report of Combined Activity: a custodian’s report of all booked cash and securities movements on an account for a period, organised per cash account and currency, with opening and closing balances.

What is the difference between MT575 and MT536?

The MT536 reports securities movements per safekeeping account. The MT575 combines them with the cash movements, including cash-only entries such as dividends, fees and interest, and gives cash balances per currency.

Does the MT575 include pending transactions?

No. It reports only booked activity. Pending instructions are reported in the MT537 Statement of Pending Transactions.

Where are free deliveries reported in an MT575?

Movements of securities without cash go in sequence C (Free Asset Activity), not under a cash account.

What is the ISO 20022 equivalent of the MT575?

There is no direct one in general use. ISO 20022 reporting splits the same information into securities statements and cash statements.