Friday, July 21, 2023

swift alliance mx messages

 SWIFT Alliance MX messages are electronic messages that conform to the ISO 20022 standard and use the XML protocol

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 They are used for financial transactions and can be received in Alliance Access/Entry
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 There are several types of MX messages, each with a unique message type, number, variant, and version number
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Some examples of SWIFT Alliance MX messages include:
  • Subscription Order using the Funds standards MX
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  • Single customer credit transfer MT 103, which appears as pacs.008.001.0x in MX format
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When handling multi-format MX messages in Alliance Access/Entry, it is important to know how to find them and how to handle them
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 In addition, it is possible to create MX messages manually using the Alliance Lite2 Web Interface
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It is worth noting that there are potential issues that can arise when translating MX-MT messages, particularly when the message is not fully supported by the SWIFT translation
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 However, the industry has decided to replace the old MT standards entirely with MX messages because they are compliant with ISO 20022 standards
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Citations:
[1] https://www.swift.com/our-solutions/services/training/swift-training-catalogue/browse-swift-training-catalogue/alliance-accessentry-handling-multi-format-mx-messages
[2] https://www.swift.com/our-solutions/services/training/swift-training-catalogue/browse-swift-training-catalogue/create-mx-messages-manually-alliance-lite2
[3] https://docs.tibco.com/pub/bwpluginswift/6.7.0/doc/html/GUID-3D1229E5-55CD-461F-A11D-0D738F5F78DC.html
[4] https://www.ibm.com/docs/SS3JSW_5.2.0/com.ibm.help.stds803_swiftnet.doc/c_STDS_SWIFT_SWIFTEnvelopes.html
[5] https://blog.redcompasslabs.com/what-should-you-keep-in-mind-when-translating-mx-mt-messages
[6] https://www.redbridgedta.com/us/market-intelligence/swift-mx-migration/

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