MT586 Statement of Settlement Allegements

When MT586 is used

Every MT578 reports one allegement as it happens. The MT586 gives the whole picture for one safekeeping account: each repetition of sequence B (ALLDET) is one counterparty instruction that is waiting for yours, with the same trade, quantity and settlement party details as an MT578. Operations teams use it for the daily allegement review: every line needs either an instruction from you or a query to the counterparty.

The account servicer sends the statement to the account owner on an agreed frequency, shown in 22F::SFRE (ADHO, DAIL, INDA, WEEK, MNTH, YEAR), or in reply to a request for a statement sent with an MT549. 22F::CODE says whether it is complete (COMP: every open allegement) or a delta (DELT: only what changed since the last delta statement). In a delta statement an allegement that disappeared is reported with :25D::ALLE//REMO (removed because you instructed) or :25D::ALLE//CAND (cancelled, for example by the counterparty).

When the account has nothing to report, the statement still arrives with :17B::ACTI//N and no sequence B, unless the servicer has agreed to send nothing. A long list is split over several messages: field 28E carries the page number with MORE on every page but the last, and LAST on the last page (ONLY for a single-page statement). Process the statement only once all pages have arrived.

The direction fields describe the counterparty’s instruction, as in the MT578: :22H::REDE//RECE means the counterparty receives and you are expected to deliver with an MT542 or MT543; REDE//DELI means you are expected to receive with an MT540 or MT541.

With the subfunction PORT (:23G:NEWM/PORT), the MT586 is used in a different way: during a portfolio transfer the delivering account servicer gives the receiving account servicer the settlement details (dates, delivering parties, place of settlement) of the individual transfers to come, so the receiving side can instruct and match them.

The MT537 Statement of Pending Transactions does the same job for your own open instructions. Read the two together: an open allegement in the MT586 and an unmatched instruction in the MT537 for the same ISIN and date usually describe one trade where the two sides disagree on a field.

MT586 format: sequences and fields

Rules worth knowing

• The activity flag and sequence B go together: with :17B::ACTI//Y at least one allegement is reported; with ACTI//N sequence B is absent.
• A statement can span several messages. 28E numbers the pages; only the last carries LAST (or ONLY for a single page). Keep 20C::SEME and the statement date together to rebuild the full statement.
• In a delta statement (22F::CODE//DELT), 25D::ALLE reports what disappeared since the previous delta: REMO for removed, CAND for cancelled. A complete statement (COMP) simply lists what is open.
• Each allegement block must carry the counterparty’s settlement date, security, payment and direction indicators, quantity, transaction type and at least one settlement party.
• Like the MT578, the MT586 is sent by the account servicer. You reply to its content with your own MT540 to MT543, or by contacting the counterparty.

MT586 example

At 17:00 on 20 October 2026 the custodian CUSTAEADXXX sends ZagTrader Test Bank its intraday delta statement of allegements for safekeeping account ZAG-SAFE-0001. One new allegement is open: a buyer has instructed a receipt against payment of 10,000 shares. A second allegement, reported earlier, has been removed because ZagTrader has since instructed and matched.

{1:F01CUSTAEADAXXX0000000000}{2:I586ZAGTAEADXXXXN}{4:
:16R:GENL
:28E:1/ONLY
:20C::SEME//CA586-261020-17
:23G:NEWM
:98C::PREP//20261020170005
:98C::STAT//20261020170000
:22F::SFRE//INDA
:22F::CODE//DELT
:97A::SAFE//ZAG-SAFE-0001
:17B::ACTI//Y
:16S:GENL
:16R:ALLDET
:16R:LINK
:20C::MITI//CSD2610200098765
:16S:LINK
:98A::SETT//20261022
:98A::TRAD//20261020
:35B:ISIN AEZAGT000016
ZAGTRADER TEST HOLDING PJSC
:22H::PAYM//APMT
:22H::REDE//RECE
:16R:FIAC
:36B::SETT//UNIT/10000,
:16S:FIAC
:16R:SETDET
:22F::SETR//TRAD
:16R:SETPRTY
:95P::PSET//CSDXAEADXXX
:16S:SETPRTY
:16R:SETPRTY
:95P::REAG//BRKRAEADXXX
:16S:SETPRTY
:16R:AMT
:19A::SETT//AED254500,
:16S:AMT
:16S:SETDET
:16S:ALLDET
:16R:ALLDET
:16R:LINK
:20C::MITI//CSD2610190045120
:16S:LINK
:25D::ALLE//REMO
:98A::SETT//20261021
:98A::TRAD//20261019
:35B:ISIN AEZAGT000024
:22H::PAYM//FREE
:22H::REDE//DELI
:16R:FIAC
:36B::SETT//UNIT/2500,
:16S:FIAC
:16R:SETDET
:22F::SETR//OWNE
:16R:SETPRTY
:95P::PSET//CSDXAEADXXX
:16S:SETPRTY
:16R:SETPRTY
:95P::DEAG//BANKAEADXXX
:16S:SETPRTY
:16S:SETDET
:16S:ALLDET
-}

Line by line

Each ALLDET block reads like an MT578. The first one needs an MT543 from ZagTrader (or a call to the buyer if the trade is unknown); the second needs no action.

A complete statement (22F::CODE//COMP) would list only the first allegement, without any 25D.

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

Common errors and rejects

1. Pages processed before the statement is complete

   A statement split over several messages shows MORE in 28E on every page but the last. Reconciling page 1 alone makes allegements on later pages look resolved. Wait for LAST before closing the review.

2. Delta statement treated as complete

   With 22F::CODE//DELT, an allegement missing from today’s statement is not closed: it simply did not change. Only a 25D::ALLE//REMO or CAND closes it. Treating a delta as a full list makes open allegements disappear from your review.

3. Direction read the wrong way round

   REDE describes the counterparty’s instruction. RECE means you deliver, DELI means you receive. Instructing in the same direction as the allegement creates a second unmatched instruction.

4. Allegement keeps appearing after you instructed

   Your instruction exists but does not match. Check the MT548 for it: the NMAT reason, such as DDAT or DMON, shows which field differs from the allegement.

   How to fix it

5. No statement received on a quiet day

   Some servicers send an empty statement (17B::ACTI//N) when there is nothing to report, others send nothing on continuous or delta subscriptions. Agree which one applies, so a missing statement is not mistaken for "no allegements".

MT586 in ISO 20022

The ISO 20022 counterpart is semt.019 Securities Settlement Transaction Allegement Report (statement of settlement allegements). T2S sends semt.019 to CSDs and directly connected participants; custodians that serve ISO 15022 clients translate it into an MT586. The single allegement message, the MT578, corresponds to sese.028. For the portfolio transfer use (23G NEWM/PORT), Swift’s MT and MX equivalence table also lists sese.037 Portfolio Transfer Notification.

Securities messages were not part of the November 2025 payments deadline, and the MT586 remains in use on FIN.

Related messages

• MT578Settlement Allegement
• MT537Statement of Pending Transactions
• MT548Settlement Status and Processing Advice
• MT549Request for Statement/Status Advice
• MT540Receive Free
• MT541Receive Against Payment
• MT542Deliver Free
• MT543Deliver Against Payment
• MT535Statement of Holdings
• MT536Statement of Transactions

• Unmatched instruction (NMAT)
• From instruction to settled position: MT540-548, sese.023/024/025 and the statements that follow.

Codes used in MT586

• NMAT
• MACH
• TRAD
• OWNE

MT586 questions

What is an MT586?

A Statement of Settlement Allegements: a list, for one safekeeping account, of the settlement instructions counterparties have sent against that account that you have not yet matched. Your custodian or CSD sends it on a schedule or when you ask with an MT549.

What is the difference between MT578 and MT586?

The MT578 reports one allegement at a time, as it is created, removed or cancelled. The MT586 is a statement of all open allegements (or of the changes, in a delta statement) at one point in time.

What do REMO and CAND mean in an MT586?

They appear in 25D::ALLE in delta statements. REMO: the allegement was removed because you sent a matching instruction. CAND: it was cancelled, for example because the counterparty cancelled its instruction.

What is the difference between a complete and a delta MT586?

22F::CODE//COMP lists every open allegement. 22F::CODE//DELT lists only changes since the previous delta statement, including removals and cancellations.

What is the ISO 20022 equivalent of the MT586?

semt.019, the statement of settlement allegements used by T2S and other ISO 20022 settlement platforms.