{"id":31765,"date":"2020-04-28T22:11:45","date_gmt":"2020-04-28T22:11:45","guid":{"rendered":"https:\/\/www.tradefinanceglobal.com\/?page_id=31765"},"modified":"2025-01-16T14:51:10","modified_gmt":"2025-01-16T14:51:10","slug":"swift-messaging-types","status":"publish","type":"page","link":"https:\/\/www.tradefinanceglobal.com\/letters-of-credit\/swift-messaging-types\/","title":{"rendered":"SWIFT Messaging Types"},"content":{"rendered":"\n<div class=\"wp-block-columns container w-auto is-layout-flex wp-container-core-columns-is-layout-9d6595d7 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:33.33%\"><div class=\"block-header-without-image d-flex flex-direction-column justify-content-center\">\n    <h2 class=\"fs-32 fw-700 fs-xs-28 not-for-table-content\" id=\"heading-swift-messaging-types\">\n        SWIFT Messaging Types    <\/h2>\n    <div class=\"d-grid grid-col-2 grid-col-xs-1\">\n                            <div class=\"\">\n                <div>Last updated on 16 Jan 2025<\/div>\n                <div>28 Apr 2020 . 5 min read<\/div>\n            <\/div>\n            <\/div>\n    <\/div><\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:66.66%\"><figure class=\"wp-block-post-featured-image\"><img loading=\"lazy\" decoding=\"async\" width=\"869\" height=\"352\" src=\"https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/05\/SWIFT-Messaging-Types.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" style=\"object-fit:cover;\" srcset=\"https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/05\/SWIFT-Messaging-Types.jpg 869w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/05\/SWIFT-Messaging-Types-300x122.jpg 300w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/05\/SWIFT-Messaging-Types-768x311.jpg 768w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/05\/SWIFT-Messaging-Types-320x130.jpg 320w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/05\/SWIFT-Messaging-Types-370x150.jpg 370w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/05\/SWIFT-Messaging-Types-414x168.jpg 414w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/05\/SWIFT-Messaging-Types-600x243.jpg 600w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/05\/SWIFT-Messaging-Types-372x151.jpg 372w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/05\/SWIFT-Messaging-Types-450x182.jpg 450w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/05\/SWIFT-Messaging-Types-380x154.jpg 380w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/05\/SWIFT-Messaging-Types-285x115.jpg 285w\" sizes=\"auto, (max-width: 869px) 100vw, 869px\" \/><\/figure><\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-columns container w-auto country-quick-link is-layout-flex wp-container-core-columns-is-layout-9d6595d7 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:61.41%\"><div class=\"block-buttons bg-anti-flash-white rounded p-24 h-100 xs-h-auto\" style=\"background-color: #f2f5f7 !important;\">\n  <div class=\"d-grid grid-col-1 grid-col-xs-1 mb-12\">\n    <h4 class=\"not-for-table-content fs-24 fw-700\" id=\"heading-most-popular\">Most popular<\/h4>\n  <\/div>\n  <div>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/letters-of-credit\/swift-messaging-types\/\">\n        SWIFT Messaging Types      <\/a>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/letters-of-credit\/\">\n        Introduction to Letters of Credit      <\/a>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/letters-of-credit\/benefits-of-letters-of-credit\/\">\n        Benefits of Letters of Credit      <\/a>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/letters-of-credit\/handling-document-discrepancies\/\">\n        Handling Document Discrepancies      <\/a>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/letters-of-credit\/parties-involved\/\">\n        Parties Involved      <\/a>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/letters-of-credit\/financial-crime-fraud-and-sanctions\/\">\n        Financial Crime, Fraud u0026 Sanctions      <\/a>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/letters-of-credit\/documentary-collections\/courses\/\">\n        Letters of Credit Courses      <\/a>\n      <\/div>\n<\/div><\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:38.59%\"><div class=\"block-buttons bg-anti-flash-white rounded p-24 h-100 xs-h-auto\" style=\"background-color: #ebf5f4 !important;\">\n  <div class=\"d-grid grid-col-1 grid-col-xs-1 mb-12\">\n    <h4 class=\"not-for-table-content fs-24 fw-700\" id=\"heading-swift-messaging-types\">SWIFT Messaging Types<\/h4>\n  <\/div>\n  <div>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/letters-of-credit\/swift-messaging-types\/\">\n        SWIFT Messaging Types &#8211; Introduction      <\/a>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/letters-of-credit\/mt700\/\">\n        MT 700      <\/a>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/letters-of-credit\/mt707\/\">\n        MT 707      <\/a>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/letters-of-credit\/mt710\/\">\n        MT 710      <\/a>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/letters-of-credit\/mt720\/\">\n        MT 720      <\/a>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/letters-of-credit\/mt734\/\">\n        MT 734      <\/a>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/letters-of-credit\/mt742\/\">\n        MT 742      <\/a>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/letters-of-credit\/mt759\/\">\n        MT 759      <\/a>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/letters-of-credit\/mt760\/\">\n        MT 760      <\/a>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/letters-of-credit\/mt765\/\">\n        MT 765      <\/a>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/letters-of-credit\/mt767\/\">\n        MT 767      <\/a>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/letters-of-credit\/mt798\/\">\n        MT 798      <\/a>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/letters-of-credit\/swift-mt799\/\">\n        MT 799      <\/a>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/posts\/difference-mt799-mt760\/\">\n        The difference between MT799 and MT760      <\/a>\n      <\/div>\n<\/div><\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-columns container w-auto is-layout-flex wp-container-core-columns-is-layout-9d6595d7 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:33.33%\">\n<p><\/p>\n\n\n\n<p><\/p>\n\n\n<div class=\"bg-light-blue d-flex gap-16 h-auto p-16 rounded xs-flex-direction-column\">\n    <div class=\"\">\n    <img decoding=\"async\" style=\"min-width:100px;max-width: 150px\" src=\"https:\/\/secure.gravatar.com\/avatar\/adbea0e7d528d8822bada7096c1e6ea9?s=160&#038;d=mm&#038;r=g\" class=\"w-100 rounded\">\n  <\/div>\n  <div class=\"col-span-2 col-span-xs-1\">\n    <div class=\"d-flex flex-direction-column gap-16 fs-16 justify-content-between\">\n      <div class=\"fs-16 fw-700\">Mark Abrams<\/div>\n      <div class=\"fs-14 fw-400 elipsise-2-line\" title=\"Mark heads up the trade finance offering at TFG where\u00a0his team focuses on bringing in alternative structured finance to international trading companies.\">\n        Mark heads up the trade finance offering at TFG where\u00a0his team focuses on bringing in alternative structured finance to international trading companies.      <\/div>\n      <div>\n        <a class=\"text-black fs-12 small-link-arrow-right\" href=\"https:\/\/www.tradefinanceglobal.com\/posts\/?author=74\">\n          <span>\n            Latest Post          <\/span>\n        <\/a>\n      <\/div>\n    <\/div>\n  <\/div>\n<\/div>\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n\n\n<div style=\"min-height:100px!important;\" class=\"block-cta max-w-100 p-32 h-auto rounded sm-w-60 dark-mode bg-black align wp-block-acf-block-cta\">\n  <h4 id=\"heading-access-trade-receivables-and-supply-chain-finance\" class=\"fs-24 fw-700 elipsise-2-line dark:color-white not-for-table-content\">\n    Access trade, receivables and supply chain finance  <\/h4>\n  <p class=\"block-subtitle dark:color-white\">We assist companies to access trade and receivables finance through our relationships with 270+ banks, funds and alternative finance houses.<\/p>\n  <a href=\"\/\" class=\"dark:text-black px-16 py-8 rounded bg-black text-white fs-14 fw-700 dark:bg-tale\">\n    <span>Get Started<\/span>\n  <\/a>\n<\/div>\n\n<div class=\"block-cta p-24 h-auto rounded\">\n    <h4 id=\"heading-\" class=\"fs-24 fw-700 elipsise-2-line dark:color-white not-for-table-content\">\n      <\/h4>\n  <p class=\"fs-16 fw-400 dark:color-white\">Download our our free Letters of Credit guide<\/p>\n  <div class=\"mb-20\">\n    <img loading='lazy' alt='Letters-of-Credit' style='width:auto; height:200px'  width='auto' height='auto' src='https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/05\/Letters-of-Credit-150x150.jpg' srcset='https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/05\/Letters-of-Credit-300x300.jpg 300w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/05\/Letters-of-Credit-150x150.jpg 150w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/05\/Letters-of-Credit-320x320.jpg 320w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/05\/Letters-of-Credit-370x370.jpg 370w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/05\/Letters-of-Credit-414x414.jpg 414w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/05\/Letters-of-Credit-200x200.jpg 200w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/05\/Letters-of-Credit-250x250.jpg 250w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/05\/Letters-of-Credit-162x162.jpg 162w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/05\/Letters-of-Credit-159x159.jpg 159w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/05\/Letters-of-Credit-123x123.jpg 123w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/05\/Letters-of-Credit-190x190.jpg 190w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/05\/Letters-of-Credit.jpg 600w' \/>  <\/div>\n      <a href=\"https:\/\/www.tradefinanceglobal.com\/login\/?redirect_url=https%3A%2F%2Fwww.tradefinanceglobal.com%2Fwp-json%2Fwp%2Fv2%2Fpages%2F31765\"  class=\"dark:text-black px-16 py-8 rounded bg-black text-white fs-14 fw-700 dark:bg-tale\">\n      <span>Download<\/span>\n    <\/a>\n    <\/div>\n\n\n<p><\/p>\n\n\n\n<figure class=\"wp-block-image size-large is-resized\"><a href=\"https:\/\/www.libf.ac.uk\/professional-qualifications\/trade-and-transaction-banking\/certificate-for-documentary-credit-specialists-cdcs\/?utm_source=TFG+-+CDCS&amp;utm_medium=MPU+banner&amp;utm_campaign=TFG+-+CDCS+campaign\" target=\"_blank\" rel=\"noreferrer noopener\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"1024\" src=\"https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/07\/CDCS-MPU-1024x1024.gif\" alt=\"\" class=\"wp-image-126577\" style=\"width:256px;height:256px\" srcset=\"https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/07\/CDCS-MPU-1024x1024.gif 1024w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/07\/CDCS-MPU-300x300.gif 300w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/07\/CDCS-MPU-150x150.gif 150w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/07\/CDCS-MPU-768x768.gif 768w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/07\/CDCS-MPU-320x320.gif 320w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/07\/CDCS-MPU-370x370.gif 370w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/07\/CDCS-MPU-414x414.gif 414w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/07\/CDCS-MPU-200x200.gif 200w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/07\/CDCS-MPU-250x250.gif 250w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/07\/CDCS-MPU-162x162.gif 162w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/07\/CDCS-MPU-159x159.gif 159w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/07\/CDCS-MPU-123x123.gif 123w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/07\/CDCS-MPU-190x190.gif 190w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/a><\/figure>\n\n\n\n<p>ADVERTISEMENT<\/p>\n\n\n\n<p><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-contents\">Contents<\/h2>\n\n\n<div class=\"block-table-content h-auto bg-white auto\">\n    <ul class=\"table-content\"><\/ul><\/div><\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:66.66%\">\n<p><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-swift-messaging-types\">SWIFT Messaging Types<\/h2>\n\n\n\n<p class=\"bg-tale rounded p-24 h-auto\" style=\"font-size:16px\">Structured data and standard formats for exchanging information around bank guarantees and letters of credit are key for the digitisation of trade finance. Interbank and bank-to-corporate messaging remains a challenge, and whilst the industry welcomes moves towards structured data and SWIFT\u2019s new messaging types, there are still challenges. TFG heard from Olli J\u00e4\u00e4saari, Standardised Trust expert and&nbsp;<a href=\"https:\/\/www.nordea.com\/en\">Nordea<\/a>\u2019s Trade Finance &amp; WCM Product Manager.<\/p>\n\n\n\n<p class=\"bg-anti-flash-white rounded p-24 h-auto\" style=\"font-size:16px\"><strong>Disclaimer<\/strong>:&nbsp;The views that have been expressed on this page are that of the author, which may or may not be in line with Trade Finance Global, or, Nordea\u2019s view.<\/p>\n\n\n<section class=\"full-width\">\n  <div class=\"w-100\">\n    <iframe loading=\"lazy\" title=\"SWIFT's 2020 Standards Release - An introduction to Messaging Types (MTs)\" height=\"150\" width=\"100%\" style=\"border: none;\" scrolling=\"no\" data-name=\"pb-iframe-player\" src=\"https:\/\/www.podbean.com\/player-v2\/?from=old_player&#038;btn-skin=7&#038;skin=1&#038;mini=0&#038;rtl=0&#038;fonts=Helvetica&#038;download=1&#038;share=1&#038;start_at=0&#038;i=k2zqf-db779c-pb\" allowfullscreen=\"\"><\/iframe>  <\/div>\n<\/section>\n\n\n<p><\/p>\n\n\n\n<h2 class=\"wp-block-heading\">SWIFT Messaging Types for Guarantees and Its Uses<\/h2>\n\n\n\n<p style=\"font-size:16px\"><strong>DP:<\/strong>&nbsp;What are the current uses for messaging types when it comes to Bank Guarantees? What is SWIFT MT 760, 767 and 798?<\/p>\n\n\n\n<p style=\"font-size:16px\"><strong>OJ:&nbsp;<\/strong>Anyone who has worked with bank guarantees transmitted between banks will be well aware of the current&nbsp;<a href=\"https:\/\/www.tradefinanceglobal.com\/letters-of-credit\/mt760\/\">MT&nbsp;760<\/a>&nbsp;guarantee issuance and MT&nbsp;767 guarantee amendment formats: there are a couple of fields for applicable rules and a date, but the main content of the message is in a single, free format narrative field. Regardless of who pays the fees, what the guarantee text is or which rules and which law is applied, it\u2019s all in field 77C: Details of Guarantee.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"438\" src=\"https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/swift-bank-messaging-1024x438-1.jpg\" alt=\"\" class=\"wp-image-105162\" srcset=\"https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/swift-bank-messaging-1024x438-1.jpg 1024w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/swift-bank-messaging-1024x438-1-300x128.jpg 300w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/swift-bank-messaging-1024x438-1-768x329.jpg 768w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/swift-bank-messaging-1024x438-1-700x300.jpg 700w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/swift-bank-messaging-1024x438-1-320x137.jpg 320w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/swift-bank-messaging-1024x438-1-370x158.jpg 370w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/swift-bank-messaging-1024x438-1-414x177.jpg 414w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/swift-bank-messaging-1024x438-1-600x257.jpg 600w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/swift-bank-messaging-1024x438-1-372x159.jpg 372w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/swift-bank-messaging-1024x438-1-450x192.jpg 450w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/swift-bank-messaging-1024x438-1-380x162.jpg 380w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/swift-bank-messaging-1024x438-1-285x122.jpg 285w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p><\/p>\n\n\n\n<p style=\"font-size:16px\">Using a free format field is of course very convenient. Any scenario ranging from a simple request to advise an issued guarantee, requesting advise and confirmation of a standby, right up to a chain of multiple counter guarantees leading to local issuance of an undertaking, is easily sent using MT&nbsp;760 or MT&nbsp;767.<\/p>\n\n\n\n<p style=\"font-size:16px\">The downside of this free format flexibility is that automation is difficult. Picking out the parties in the transaction, the guaranteed commitment or even the guarantee amount or expiry date requires that the information in the narrative is parsed.<\/p>\n\n\n\n<p style=\"font-size:16px\">The bank-to-corporate channel used, utilising&nbsp;<a href=\"https:\/\/www.tradefinanceglobal.com\/letters-of-credit\/mt798\/\">MT&nbsp;798<\/a>, however, manages to solve this in the message flow between corporate and bank by using an index message with a structured format. However, this is always accompanied by the unstructured narrative.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"SWIFT_standards_implementation\">Implementation of the New SWIFT Messaging Standards<\/h2>\n\n\n\n<p style=\"font-size:16px\"><strong>DP:<\/strong>&nbsp;What are the proposed changes for SWIFT messaging standards (MT 760 and MT 767) and when is this changing?<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/graph-1-pdf-1024x576-1.jpg\" alt=\"\" class=\"wp-image-105164\" srcset=\"https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/graph-1-pdf-1024x576-1.jpg 1024w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/graph-1-pdf-1024x576-1-300x169.jpg 300w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/graph-1-pdf-1024x576-1-768x432.jpg 768w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/graph-1-pdf-1024x576-1-320x180.jpg 320w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/graph-1-pdf-1024x576-1-370x208.jpg 370w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/graph-1-pdf-1024x576-1-414x233.jpg 414w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/graph-1-pdf-1024x576-1-533x300.jpg 533w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/graph-1-pdf-1024x576-1-356x200.jpg 356w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/graph-1-pdf-1024x576-1-444x250.jpg 444w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/graph-1-pdf-1024x576-1-288x162.jpg 288w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/graph-1-pdf-1024x576-1-283x159.jpg 283w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/graph-1-pdf-1024x576-1-219x123.jpg 219w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/graph-1-pdf-1024x576-1-285x160.jpg 285w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p><\/p>\n\n\n\n<p style=\"font-size:16px\"><strong>OJ:&nbsp;<\/strong>The upcoming SWIFT message standards, which are set to go live in November 2021, attempt to solve the current issues by using structured fields in the bank-to-bank messages MT&nbsp;760 and MT&nbsp;767. Such fields would include the guarantee amount, expiry date and parties, among other things.<\/p>\n\n\n\n<p style=\"font-size:16px\">Going forward, the MT&nbsp;760 and MT&nbsp;767 can only be used for demand guarantees and standbys. All sureties, accessory guarantees and other dependent undertakings will need to be sent in MT&nbsp;759 ancillary trade messages, which continue the use of a single large narrative field. My opinion is that this split causes more harm than good, especially when combined with the suggested MT&nbsp;798 standards \u2013 but this will be elaborated on later.<\/p>\n\n\n\n<p style=\"font-size:16px\">Additionally, some messages receive minor tweaks which don\u2019t have a big impact on usage, and some new message types are introduced for demand for payment and amendment responses.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"benefits_new_swift_messaging_standards\">Benefits of New MT 760 and MT 767 Formats<\/h2>\n\n\n\n<p style=\"font-size:16px\"><strong>DP:<\/strong>&nbsp;Can structured messages bring automation benefits to trade?<\/p>\n\n\n\n<p style=\"font-size:16px\"><strong>OJ:&nbsp;<\/strong>The development of the new MT&nbsp;760 and MT&nbsp;767 formats is appreciated, as they enable easier process automation in many areas, such as compliance screening, or sorting incoming messages to different handling depending on whether they\u2019re standbys to be advised without any risk, or requests to issue a local undertaking against a counter guarantee.<\/p>\n\n\n\n<p style=\"font-size:16px\">However, building separate handling for dependent undertakings in MT&nbsp;759 is an additional cost. If only the code DEPU \u2013 for dependent undertakings \u2013 was allowed in the MT&nbsp;760 and 767 formats, the same handling could be utilised!<\/p>\n\n\n\n<p style=\"font-size:16px\"><strong>DP:<\/strong>&nbsp;What do these changes mean for corporates, and which guarantee text is the corporate requesting?<\/p>\n\n\n\n<p style=\"font-size:16px\"><strong>OJ:&nbsp;<\/strong>As mentioned before, the current message standards for MT&nbsp;798 messages between corporates and banks already contain a large part of this data in structured format, detailing the data which is also included in the free-text narrative field of today\u2019s guarantee messages.<\/p>\n\n\n\n<p style=\"font-size:16px\">This means that the change will not be that big for corporate-to-bank communication, as long as we consider only demand guarantees and standbys. Dependent undertakings, unfortunately, are a whole other story.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/graph-2-1-pdf-1024x576-1.jpg\" alt=\"\" class=\"wp-image-105165\" srcset=\"https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/graph-2-1-pdf-1024x576-1.jpg 1024w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/graph-2-1-pdf-1024x576-1-300x169.jpg 300w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/graph-2-1-pdf-1024x576-1-768x432.jpg 768w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/graph-2-1-pdf-1024x576-1-320x180.jpg 320w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/graph-2-1-pdf-1024x576-1-370x208.jpg 370w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/graph-2-1-pdf-1024x576-1-414x233.jpg 414w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/graph-2-1-pdf-1024x576-1-533x300.jpg 533w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/graph-2-1-pdf-1024x576-1-356x200.jpg 356w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/graph-2-1-pdf-1024x576-1-444x250.jpg 444w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/graph-2-1-pdf-1024x576-1-288x162.jpg 288w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/graph-2-1-pdf-1024x576-1-283x159.jpg 283w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/graph-2-1-pdf-1024x576-1-219x123.jpg 219w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/graph-2-1-pdf-1024x576-1-285x160.jpg 285w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p><\/p>\n\n\n\n<p style=\"font-size:16px\">First of all, the guarantee request message, and response thereto, must contain a message structured like an MT&nbsp;760, despite the instrument being issued as an MT&nbsp;759. This means that the corporate must think about how their bank will treat the different fields in the request, and the bank must also carefully consider what the customer wants, in order ensure correct content is populated into the MT&nbsp;759 narrative field.<\/p>\n\n\n\n<p style=\"font-size:16px\">Then, once the MT&nbsp;759 is sent, the bank must inform the customer of the issued guarantee. Usually one would do this by sending a copy of the outgoing message, but for some reason the message standard makes it mandatory to translate this 759 message into the 760 format. And note that this is the very same format, which explicitly disallows dependent undertakings in bank-to-bank communication!<\/p>\n\n\n\n<p style=\"font-size:16px\">If only the code DEPU \u2013 for dependent undertakings \u2013 was allowed in the bank-to-bank MT&nbsp;760 and 767 formats, the mismatch would be avoided!<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"SWIFT_messaging_issues_for_advising_banks\">New SWIFT Messaging Formats \u2013 Issues for Advising Banks<\/h2>\n\n\n\n<p style=\"font-size:16px\"><strong>DP:<\/strong>&nbsp;In your opinion, what are the main issues for advising banks?<\/p>\n\n\n\n<p style=\"font-size:16px\"><strong>OJ:&nbsp;<\/strong>The very same issue is encountered when a bank is requested to advise a surety to a corporate without taking any risk. Ideally, the advising bank would forward the incoming guarantee text to the corporate as is, without any changes.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/graph-3-1-pdf-1024x576-1.jpg\" alt=\"\" class=\"wp-image-105166\" srcset=\"https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/graph-3-1-pdf-1024x576-1.jpg 1024w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/graph-3-1-pdf-1024x576-1-300x169.jpg 300w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/graph-3-1-pdf-1024x576-1-768x432.jpg 768w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/graph-3-1-pdf-1024x576-1-320x180.jpg 320w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/graph-3-1-pdf-1024x576-1-370x208.jpg 370w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/graph-3-1-pdf-1024x576-1-414x233.jpg 414w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/graph-3-1-pdf-1024x576-1-533x300.jpg 533w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/graph-3-1-pdf-1024x576-1-356x200.jpg 356w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/graph-3-1-pdf-1024x576-1-444x250.jpg 444w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/graph-3-1-pdf-1024x576-1-288x162.jpg 288w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/graph-3-1-pdf-1024x576-1-283x159.jpg 283w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/graph-3-1-pdf-1024x576-1-219x123.jpg 219w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/graph-3-1-pdf-1024x576-1-285x160.jpg 285w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p style=\"font-size:16px\">The incoming message will be an MT&nbsp;759, so the bank has two options:<\/p>\n\n\n\n<ul class=\"wp-block-list\" style=\"font-size:16px\">\n<li>Forward the MT&nbsp;759 to the corporate as a free format message. The bank is happy, but the corporate is not as they cannot automate their process.<\/li>\n\n\n\n<li>Translate the MT&nbsp;759 into the structured MT&nbsp;760 format (which still disallows sureties in bank-to-bank communication). The corporate is happy, but the forwarded guarantee message contains a lot of information that the bank has had to parse from the free-format narrative field; which begs the question about liability in case of a mismatch in data between fields, or between the advise message and the incoming 759.<\/li>\n<\/ul>\n\n\n\n<p style=\"font-size:16px\">If only the code DEPU \u2013 for dependent undertakings \u2013 was allowed in the MT&nbsp;760 and 767 formats in bank-to-bank communication, there would be no issue to discuss here!<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"SWIFT_new_messaging_types_silver_lining\">SWIFT\u2019s new messaging types and structured formats \u2013 a silver lining for digital trade?<\/h2>\n\n\n\n<p style=\"font-size:16px\">The structured message formats bring clear benefits for banks and enable wider automation of processes. The split between dependent undertakings in free-format MT 759 and demand guarantees in structured MT 760 should, however, be removed.<\/p>\n\n\n\n<p style=\"font-size:16px\">Allowing sureties and accessory guarantees to be sent by MT&nbsp;760 would follow current market practice, reduce work in building parallel handling in banks, and remove the mismatch between the bank-to-bank and bank-to-corporate SWIFT messages.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"438\" src=\"https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/swift-bank-code-1024x438-1.jpg\" alt=\"\" class=\"wp-image-105167\" srcset=\"https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/swift-bank-code-1024x438-1.jpg 1024w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/swift-bank-code-1024x438-1-300x128.jpg 300w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/swift-bank-code-1024x438-1-768x329.jpg 768w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/swift-bank-code-1024x438-1-700x300.jpg 700w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/swift-bank-code-1024x438-1-320x137.jpg 320w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/swift-bank-code-1024x438-1-370x158.jpg 370w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/swift-bank-code-1024x438-1-414x177.jpg 414w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/swift-bank-code-1024x438-1-600x257.jpg 600w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/swift-bank-code-1024x438-1-372x159.jpg 372w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/swift-bank-code-1024x438-1-450x192.jpg 450w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/swift-bank-code-1024x438-1-380x162.jpg 380w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/swift-bank-code-1024x438-1-285x122.jpg 285w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p style=\"font-size:16px\">As the Category 7 message changes have been postponed to November 2021, there would still be time to see if there is support for doing a change to the formats. In any case, the discussions in Standardised Trust have shown the value of collaborating not only between banks, but keeping corporates involved as well, together with software vendors for banks and corporates alike.<\/p>\n\n\n\n<p><\/p>\n\n\n<\/div>\n<\/div>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<section class=\"full-width block-grid_topics dark-mode\" data-block=\"grid_topics\" data-theme=\"dark\">\n  <div class=\"block-topics\">\n    <h1 class=\"container w-auto fs-xs-20 mb-xs-20 not-for-table-content\"><\/h1>\n    <div class=\"control container w-auto clearfix topic-tabs position-relative\">\n              <ul class=\"tabs tabs-horizontal d-inline-block mb-30\">\n                      <li class=\"px-24 py-12 fs-16 fs-xs-14 active\"\n            data-post-type=\"post\"\n            data-source=\"topic\"\n            data-limit=\"14\"\n            data-include=\"\"\n            data-cat=\"6833\"\n            data-cat-relationship=\"in\"\n            data-key-category=\"\"\n            data-link=\"\"\n            data-link-title=\"\"\n            default-link=\"\"\n            default-btn-text=\"\">\n              More articles on SWIFT Messaging Types            <\/li>\n                      <li class=\"px-24 py-12 fs-16 fs-xs-14 \"\n            data-post-type=\"page\"\n            data-source=\"topic\"\n            data-limit=\"14\"\n            data-include=\"\"\n            data-cat=\"6833\"\n            data-cat-relationship=\"in\"\n            data-key-category=\"\"\n            data-link=\"\"\n            data-link-title=\"\"\n            default-link=\"\"\n            default-btn-text=\"\">\n              Messaging Types Resources            <\/li>\n                  <\/ul>\n            <select class=\"topics-sort d-hidden\">\n        <option value=\"title-asc\">A-Z<\/option>\n        <option value=\"date-desc\" selected>Latest<\/option>\n      <\/select>\n      <div class=\"border-light-blue bg-white fs-16 fw-700 pointer bordered dark:bg-maastricht-blue position-absolute rounded-md sorting-dropdown px-16 py-10\">\n        <span class=\"display-value d-block\">Latest<\/span>\n        <div class=\"border-light-blue bordered options-to-select overflow-hidden rounded-md w-100 d-hidden\">\n          <span class=\"d-block py-10 px-16 pointer single-option\"\n          data-value=\"title-asc\">A-Z<\/span>\n          <span class=\"d-block py-10 px-16 pointer single-option\" data-value=\"date-desc\">Latest<\/span>\n        <\/div>\n      <\/div>\n    <\/div>\n\n    <div class=\"block-wrapper clearfix overflow-hidden max-w-100\">\n    <\/div>\n\n    <div class=\"bottom-buttons d-flex clearfix container w-auto\">\n      <a href=\"\" class=\"custom-link button-standart button-standart-blue\">\n        <span><\/span>\n      <\/a>\n    <\/div>\n  <\/div>\n<\/section>","protected":false},"excerpt":{"rendered":"<p>SWIFT Messaging Types Structured data and standard formats for exchanging information around bank guarantees and letters of credit are key for the digitisation of trade finance. Interbank and bank-to-corporate messaging\u2026 <a href=\"https:\/\/www.tradefinanceglobal.com\/letters-of-credit\/swift-messaging-types\/\" class=\"read-more-link\">read more &rarr;<\/a><\/p>\n","protected":false},"author":84,"featured_media":110510,"parent":10611,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"content-type":"","ep_exclude_from_search":false,"footnotes":""},"categories":[2129],"class_list":["post-31765","page","type-page","status-publish","has-post-thumbnail","hentry","category-letters-of-credit"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.7 (Yoast SEO v24.7) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>SWIFT Messaging Types | TFG 2025 Guide [FREE PDFs]<\/title>\n<meta name=\"description\" content=\"[UPDATED2025] TFG&#039;s SWIFT Messaging Types (MT) Guide, discussing the 2021 proposed changes to MT760, MT767, MT759 and MT798 on demand, accessory guarantees as well as standby letters of credit. 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