What is swift MT 870?

SWIFT MT 870 is a type of financial message used in the SWIFT network, specifically designed for the communication of corporate actions related to securities. It is typically used by financial institutions to inform clients about various events such as dividend payments, stock splits, or Mergers and Acquisitions. The MT 870 message provides detailed information regarding the action, including dates, amounts, and other relevant specifics to ensure accurate processing. This standardization helps improve efficiency and clarity in financial transactions.