What is swift MT600?

MT 600 Precious Metal Trade Confirmation

MT 600 Scope

This message type is exchanged between the financial institutions which have agreed to a precious metal trade.

It is used to confirm the details of:

• a new contract between the parties
• an amendment to a previously agreed contract
• the cancellation of a contract
• the settlement of a metal option which has been exercised.

This message may also be exchanged to confirm the liquidation of a forward deal. In some cases, only one of the financial institutions involved in a contract will send a confirmation to the second financial institution.

These cases include:

• retransmission due to errors in a previously sent confirmation
• additional information about a previously confirmed contract, (eg, to provide the name of the party in field 57a and/or
• 87a, in those cases where the previous confirmation contained the code UNKNOWN).

Check out http://www.mtn-cmo-bg.com/swifts/mt600-swift/ for more details