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Its a type of message between financial institutions to confirm foreign exchange operations.

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16y ago

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SWIFT message MT300 is a standardized message format used in the SWIFT network for foreign exchange transactions and related confirmations. It facilitates the communication of details regarding foreign exchange trades, including the transaction type, currency pairs, amounts, and settlement instructions. This message type is essential for ensuring accuracy and efficiency in processing FX trades among financial institutions.


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It is a foreign exchange confirmation message. Swift sends system to system messages to tell other systems that something needs to be done. Once a confirmation document has been created an MT 300 will be sent to a counterparties system to tell them that the confirmation has been created and that they need to create /send a confirmation from their system in order to match the fields/information associated with a trade. However this is all dependant on whether the counterparties bank has access to the SWIFT network, if they don't then normal paper/e-mail/fax etc confirmations maybe sent out which don't require a SWIFT to be sent. SWIFT messages are set out very much like xml i.e <customer id> but instead uses uniform field names like :16r, which I believe is used to deal with different names for fields in different systems. I work within the Back Office of an Investment Bank


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