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pacs: Payments Clearing and Settlement

pacs.029 Multilateral Settlement Request

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pacs.029 is the ISO 20022 MultilateralSettlementRequest message in the Payments Clearing and Settlement business area (pacs). The latest version is pacs.029.001.02, and 2 versions are in the repository.

Message
MultilateralSettlementRequest
Latest version
pacs.029.001.02
Submitting organisation
Bank of England
MT equivalent
None listed

In use: published in the current ISO 20022 catalogue.

What pacs.029 is for

The MultilateralSettlementRequest message is sent from an instructing agent to a market infrastructure to settle obligations between their participants using accounts held in a settlement service.

Usage: The MultilateralSettlementRequest message can contain one or more settlement instructions with multiple movements between accounts. By default, all movements present in an individual instruction shall be processed as a batch entry rather than a single entry per individual movement.

Definition from the ISO 20022 e-Repository, release of 24 April 2025.

pacs.029 versions

Every version published in the e-Repository, newest first. A message keeps its business purpose across versions; each new version is a separate schema with its own namespace.

VersionRegistration statusPublished in
pacs.029.001.02latestRegisteredLatest version set
pacs.029.001.01RegisteredPrevious version set

pacs.029 message structure

The building blocks of pacs.029.001.02 to three levels, with multiplicity ([0..1] optional, [1..1] mandatory, * any number) and the data type or component. Element names and definitions are from the ISO 20022 repository; usage guidelines such as CBPR+ or a market infrastructure's rules can restrict them further.

  • Document [1..1]
    • MulSttlmReq MultilateralSettlementRequest [1..1]
      • GrpHdr Group Header [1..1]GroupHeader104

        Set of characteristics shared by all individual instructions included in the message.

        • MsgId Message Identification [1..1]Max35Text

          Point to point reference, as assigned by the instructing agent, and sent to the market infrastructure to unambiguously identify the message.

        • CreDtTm Creation Date Time [1..1]ISODateTime

          Date and time at which the message was created.

        • NbOfSttlmReqs Number Of Settlement Requests [1..1]Max15NumericText

          Number of individual settlement requests contained in the message.

        • CtrlSum Control Sum [0..1]DecimalNumber

          Total of all individual amounts included in the message, irrespective of currencies.

        • SttlmInf Settlement Information [0..1]SettlementInstruction14

          Specifies the details on how the settlement of the transaction(s) between the instructing agent and the market infrastructure is completed.

          • SttlmMtd Settlement Method [1..1]SettlementMethod2Code
          • SttlmAcct Settlement Account [0..1]CashAccount40
          • ClrSys Clearing System [0..1]ClearingSystemIdentification3Choice (choice)
      • SttlmReq Settlement Request [1..*]MultilateralSettlementRequest3

        Set of elements providing information specific to the individual settlement request(s).

        • InstrId Instruction Identification [1..1]Max35Text

          Unique identification, as assigned by the instructing agent, and sent to the market infrastructure to unambiguously identify the instruction.

        • InstrPrty Instruction Priority [0..1]Priority3Code

          Indicator of the urgency or order of importance that the instructing agent would like the market infrastructure to apply to the processing of the...

        • SttlmTmReq Settlement Time Request [0..1]SettlementTimeRequest2

          Provides information on the requested settlement time(s) of the instruction.

          • CLSTm CLS Time [0..1]ISOTime
          • TillTm Till Time [0..1]ISOTime
          • FrTm From Time [0..1]ISOTime
          • RjctTm Reject Time [0..1]ISOTime
        • SttlmPrty Settlement Priority [0..1]Priority3Code

          Indicator of the urgency or order of importance that the instructing agent would like the market infrastructure to apply to the processing of the...

        • SttlmCycl Settlement Cycle [0..1]Max35Text

          Identification of the settlement cycle in the settlement service.

        • NbOfMvmntRcrds Number Of Movement Records [0..1]Number

          Indicator of the number of movement records contained in an individual settlement request.

        • MvmntRcrd Movement Record [2..*]MovementRecord2

          Credit or debit transaction contained in an individual settlement request.

          • Id Identification [1..1]Max35Text
          • SeqNb Sequence Number [0..1]Number
          • Amt Amount [1..1]AmountAndDirection5
          • SttlmAgt Settlement Agent [0..1]PartyIdentification272
          • SttlmAgtAcct Settlement Agent Account [0..1]CashAccount40
          • Ptcpt Participant [0..1]PartyIdentification272
          • PtcptAcct Participant Account [0..1]CashAccount40
          • Ref Reference [0..1]Max35Text
      • SplmtryData Supplementary Data [0..1]SupplementaryData1

        Additional information that cannot be captured in the structured elements and/or any other specific block.

        • PlcAndNm Place And Name [0..1]Max350Text

          Unambiguous reference to the location where the supplementary data must be inserted in the message instance.

        • Envlp Envelope [1..1]SupplementaryDataEnvelope1

          Technical element wrapping the supplementary data.

Have a pacs.029 message? Paste it into the parser to see every element with its name and definition, and format checks on BICs, IBANs, dates and amounts.

External code sets used in pacs.029

These elements take their values from ISO 20022 external code sets, which are published separately and updated every quarter without a new message version.

pacs.029 questions

What is the latest version of pacs.029?
The latest version in the ISO 20022 e-Repository release of 24 April 2025 is pacs.029.001.02.
What is the root element of pacs.029?
The XML document is Document with the namespace urn:iso:std:iso:20022:tech:xsd:pacs.029.001.02, and its message element is MulSttlmReq (MultilateralSettlementRequest).
Is there an MT equivalent of pacs.029?
No Swift MT message is listed as its direct equivalent on this site. Many ISO 20022 messages have no MT counterpart.

All ISO 20022 messages · ISO 20022 code sets · MT messages

The ISO 20022 message definitions, element names and definitions on this page are reproduced from material published at iso20022.org under the ISO 20022 Intellectual Property Rights policy. This is not the official source: the up-to-date ISO 20022 standards and repository material are published only at iso20022.org. Explanations in our own words are by ZagTrader. ZagTrader is not affiliated with or endorsed by ISO or Swift.