How can a MT799, MT760, MT(n)99 Message provide value to the client? The client can start a trade upon receipt of the MT(N)99 The client can proof its capability to close that big deal/transaction via a financial institution, for a fraction of the costs The client can prove via a financial institution what it posses [...]
Leave Your Comments »
It can be used to send a Proof of Funds To provide proof of assets being held on safekeeping on behalf of the client To provide Proof of Product To inform of acceptance of documents or instruments of some sort
Leave Your Comments »
MT (Message Type) are electronic messages used for communications between financial institutions. Each communication uses a message text of some classification. There are many categories, and then an identifier for each type of message inside such category. The MT(N)99 message type is used by financial institutions to send or receive information for which there is [...]
Leave Your Comments »
The Society for Worldwide Interbank Financial Telecommunication (“SWIFT”) operates a worldwide financial messaging network which exchanges messages between banks and other financial institutions. SWIFT also markets software and services to financial institutions, much of it for use on the SWIFTNet Network, and ISO 9362 bank identifier codes (BICs) are popularly known as “SWIFT codes”. The [...]
Leave Your Comments »