Glossary
Every term between trade and settlement.
International financial messaging standard where sese.023 settlement instructions and sese.025 confirmations replace legacy SWIFT MT54x messages, enabling richer settlement data, STP, and interoperability across global custodians and CSDs.
ISO 20022 sese.023 is the securities settlement transaction instruction message used to instruct delivery or receipt of securities through a custodian, CSD, ICSD, or account servicer.
ISO 20022 sese.025 is the securities settlement transaction confirmation message used to confirm that a settlement event has completed through an account servicer, custodian, CSD, or ICSD.