Settlements
You can
Create settlement instructions from transactions in standard electronic formats
Send the created settlement instruction files automatically to selected custodians
Receive settlement status information via standard format and update information in the system accordingly
Getting started
The general flow for settlements in FA goes as follows:
Appropriate information is filled in FA so that settlement instructions can be created.
Settlement instruction files (containing MT540-MT543 messages and optionally MT598 batch headers/trailers) are created in FA.
The files are generated and sent forward either manually or automatically (if using a supported custodian).
The transactions in FA are marked accordingly.
If needed, settlement status update files (MT548/MT598) can be imported into FA either manually or automatically (if using a supported custodian). The applicable transactions are updated based on the file contents.
MT598 messages are used (by some custodians using batch settlements) to acknowledge batch transmissions, while MT548 messages are used to update the settlement status of individual transactions.
The basic flow is explained in more detail in Create settlement instruction files. If you are using a supported custodian and have a connection set up with them, you can extend the basic manual flow with the automatic connection to the custodian (see Send settlement instructions automatically and receive settlement updates).