Straight Through Processing

With many Financial Markets organisations seeking operational efficiencies the issue of Straight Through Processing (STP) is of major importance.

The first step toward the introduction of STP was to develop an interface between the Austraclear and  SWIFT networks. This allows users of both systems to send confirmation messages via SWIFT that are received by the Austraclear Network and ultimately result in transactions in the Austraclear System without the need to re-key information.

The Austraclear System currently supports an extensive range of SWIFT messages which include:

Code Message Type
MT192 Request for Cancellation (of Cash Payment)
MT198 Response to MT 1xx Messages (SMT 102 and SMT103)
MT202 General Financial Institution TranASXr (Cash Payment)
MT210 Notice to Receive (Cash Receipt)
MT292 Request for Cancellation of MT202 and MT210
MT298 Response to MT 2xx Messages (SMT 102 and SMT103)
MT300 Foreign Exchange Confirmation (incoming to ASX)
MT300U Foreign Exchange Confirmation (return from ASX)
MT398 Response to MT 3xx Messages (SMT 102 and SMT103)
MT535 Statement of Holding (Intraday, Interim or End of Day)
MT540 Security Receive Free (Discount Seccurity & Fixed Income Securities)
MT541 Security Receive Against Payment trade & repo ( Discount Security & Fixed Income Securities)
MT542 Deliver Free (Discount Seccurity & Fixed Income Securities)
MT543 Deliver with Payment trade & repo ( Discount Security & Fixed Income  Securities)
MT544 Settlement Confirmation for Receive Free
MT545 Settlement Confirmation for Receive Against Payment
MT546 Settlement Confirmation for Deliver Free
MT547 Settlement Confirmation for Deliver with Payment
MT549 Request for Statement/Status Advice
MT598 Response to MT 5xx Messages (SMT 102, SMT103)

Key Benefits

  • Reduce resource requirements within the back office
  • Reduce manual processing errors
  • Faster settlement times