What is swift MT600?

Answer 1

MT 600 Precious Metal Trade Confirmation

MT 600 Scope

This message type is exchanged between the financial institutions which have agreed to a precious metal trade.

It is used to confirm the details of:

• a new contract between the parties
• an amendment to a previously agreed contract
• the cancellation of a contract
• the settlement of a metal option which has been exercised.

This message may also be exchanged to confirm the liquidation of a forward deal. In some cases, only one of the financial institutions involved in a contract will send a confirmation to the second financial institution.

These cases include:

• retransmission due to errors in a previously sent confirmation
• additional information about a previously confirmed contract, (eg, to provide the name of the party in field 57a and/or
• 87a, in those cases where the previous confirmation contained the code UNKNOWN).

Check out http://www.mtn-cmo-bg.com/swifts/mt600-swift/ for more details

Answer 2

Swift MT600 is a message type used in the SWIFT network for the purpose of confirming a foreign exchange trade. It contains details such as the trade amount, currencies involved, exchange rate, value date, and counterparty information. The MT600 message helps ensure accurate and timely settlement of foreign exchange transactions between financial institutions.