Generation of MT604, MT605, and MT692
This document guides you through the setup and generation of:
| • | MT604 / MULTIPLE Precious Metal Transfer / Delivery Order, and MT605 / MULTIPLE Precious Metal Notice to Receiver. |
| • | MT692 that allows canceling only one single Transaction of a Multiple Message (MT692 will be produced to cancel one transaction which is part of an initial GLOBAL/MULTIPLE Delivery Order Message MT604 or MT605). |
Contents
1. Setup Requirements
1.1 IsBullion Static Data Filter
Note that these messages apply to bullion FX and Cash Commodity trades. The “IsBullion” static data filter should be created as shown below to distinguish in which cases you must produce specific confirmation/payment/receipt messages for Bullion trades.
1.2 Trade Keywords used in MT6xx Templates
The following keywords are used in MT6xx templates:
| • | MetalAvailability (eg.LONDON, ZURICH…) |
| • | MetalUnit (e.g. FOZ, GOZ…) |
| • | Physical (e.g. Y/N, only used for FX related products to determine if it is a TRANSFER or DELIVERY type) |
| • | DeliveryDetails (e.g. CIF or blank) |
1.3 Bullion Currency Setup
From the Calypso Navigator, navigate to Configuration > Definitions > Currency Definitions (menu action refdata.CurrencyDefaultJFrame) to specify bullion currencies.
To be able to identify a currency as BULLION in the system, the Group field should be set to BULLION (click Add to create it if it does not exist).
Also, in MT600, Tag 26C is populated with the Description field of the Currency Defaults to identify the metal (e.g. GOLD, SILV, etc.).
1.4 Defining Message Grouping Keys
You can define message grouping keys using Configuration > Messages & Matching
> Message Grouping (menu action util.MessageGroupingWindow). The Message Grouping window
will appear as shown below.
Define the message grouping keys for MT604 and MT605 (the keys are the same but you need to create two different groups to distinguish between Payment MT604 and Receipt MT605 templates).
| » | Click  to add a message grouping name - For example MT604. |
| » | Then select the grouping keys, and click Save All. |
Repeat for MT605.
1.5 Message Configurations - Associating Grouping Keys
From the Calypso Navigator, navigate to Configuration
> Messages & Matching > Message Configuration Set-up (menu action refdata.AdviceSetupWindow) to set up the various message configurations.
On the FX and Cash Commodity payment messages, you can specify the message grouping keys as shown below.
CashCommodity (Bullion Specific Product)
FX (Non-Bullion Specific)
Use the ‘IsBullion’ Static Data Filter to determine when you will produce MT604/605 instead of standard MT202/103/210.
1.6 Message Configurations - Specifying the Actual Grouped Messages
The grouped messages will be generated by the MESSAGE_GROUPING scheduled task.
Define the same setup for the CashCommodity product.
1.7 Individual CANCEL Messages MT692
To be able to generate MT692 (instead of MT192/292 for non-specific bullion products you will have to refer to use the IsBullion Static Data Filter). For CashCommodity products you just need to pick the MT692 Template in the message setup as described below.
Non-Bullion Specific Products/MT692
Bullion Specific Product/MT692
1.8 Message Workflow
We advise you to add after the VERIFIED status, or any other status used to select the messages to group, the transition VERIFIED – GROUP – GROUPED in your message workflow.
UnGroup Message Workflow Rule
In order to ungroup CANCEL payment/receipt individual messages (reinitializing the GroupId stored on individual payment/receipt messages attributes) when initially doing an AMEND or CANCEL on your trade, you have to add the UnGroup message workflow rule on the following transition.
Assuming you apply a GROUP action on the messages to be grouped when launching the MESSAGE_GROUPING scheduled task, you must add the possibility to CANCEL the individual messages which have been passed in GROUPED. The UnGroup Message Workflow rule on the GROUPED – CANCEL – CANCELED action allows reinitializing the individual messages in order to dynamically take into account any CANCEL in the grouped message.
ResetGrouping Message Workflow Rule
In order to ignore CANCEL payment/receipt messages when launching the MESSAGE_GROUPING scheduled task (MT692 messages not being grouped) you can use the message workflow rule ResetGrouping. This rule must be put on the transition NONE – NEW – PENDING.
2. Generating Messages
2.1 Executing the MESSAGE_GROUPING Scheduled Task
See Generating Grouped Messages for details.
2.2 Generating MT692 Messages
After you have generated MT604/MT605 messages and sent them, you can apply the CANCEL or AMEND actions on one of the trades which were part of the grouped MT604/MT605. The system publishes a CANCELED_PAYMENT or CANCELED_RECEIPT that triggers the MT692 message; this message is linked to the grouped MT604/MT605.
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