Common use of Message Clause in Contracts

Message. processing 4.1 Every SWIFT CBT shall provide such facility for the creation, transmission, confirmation and cancellation of messages so as to enable participants to carry out instructions to execute or cancel any Transaction. 4.2 Every participant shall submit messages according to the SWIFT standards and MEPS+ specific conventions set out in the SWIFT User Handbooks and MEPS+ User Manuals respectively. 4.3 Instructions for Transactions pending settlement or execution, including forward-dated Transactions before their value date (but excluding SGSMB transactions), may be cancelled by the participant which initiated the Transaction. 4.4 For any SGSMB transaction that is not matched, the participant that sent the instruction may initiate its cancellation. For any SGSMB transaction that is matched, both participants that are parties to the transaction are required to initiate and confirm the cancellation. 4.5 A cancellation request shall be unsuccessful if the Transaction is settled before the host system receives the request for cancellation. 4.6 Notwithstanding any provision in these Rules, participants shall not be able to cancel, through their SWIFT CBT, instructions for IFT or SGSMB transactions that are initiated by the Service Provider or by MAS.

Message. processing 4.1 Every SWIFT CBT shall provide such facility for the creation, transmission, confirmation and cancellation of messages so as to enable participants to carry out instructions to execute or cancel any Transaction. 4.2 Every participant shall submit messages according to the SWIFT standards and MEPS+ specific conventions set out in the SWIFT User Handbooks and MEPS+ User Manuals respectively. 4.3 Instructions for Transactions pending settlement or execution, including forward-forward- dated Transactions before their value date (but excluding SGSMB transactions), may be cancelled by the participant which initiated the Transaction. 4.4 For any SGSMB transaction that is not matched, the participant that sent the instruction may initiate its cancellation. For any SGSMB transaction that is matched, both participants that are parties to the transaction are required to initiate and confirm the cancellation. 4.5 A cancellation request shall be unsuccessful if the Transaction is settled before the host system receives the request for cancellation. 4.6 Notwithstanding any provision in these Rules, participants shall not be able to cancel, through their SWIFT CBT, instructions for IFT or SGSMB transactions that are initiated by the Service Provider or by MAS.

Message. processing 4.1 Every SWIFT CBT shall provide such facility for the creation, transmission, confirmation and cancellation of messages so as to enable participants to carry out instructions to execute or cancel any Transaction. 4.2 Every participant shall submit messages according to the SWIFT standards and MEPS+ specific conventions set out in the SWIFT User Handbooks and MEPS+ User Manuals respectively. 4.3 Instructions for Transactions pending settlement or execution, including forward-forward- dated Transactions before their value date (but excluding SGSMB transactions), may be cancelled by the participant which initiated the Transaction. 4.4 For any SGSMB transaction that is not matched, the participant that sent the instruction may initiate its cancellation. For any SGSMB transaction that is matched, both participants that are parties to the transaction are required to initiate and confirm the cancellation. 4.5 A cancellation request shall be unsuccessful if the Transaction is settled before the host system receives the request for cancellation. 4.6 Notwithstanding any provision in these Rules, participants shall not be able to cancel, through their SWIFT CBT, instructions for IFT or SGSMB transactions that are initiated by the Service Provider or by MAS.