ITALY: Monte Titoli Changes its Cash Reporting Services

Tuesday September 26 2017

Securities Depositary, Monte Titoli has announced that it has made changes to its cash reporting messages for Government Securities Payment Transactions.

Essentially the change will introduce a new MT568 standalone message to accompany the current SWIFT MT568 message which is issued for corporate actions and replaces, solely for such transactions, the unstructured message SWIFT MT599, normally used for corporate actions not directly managed by Monte Titoli (e.g., tender offers, public purchase bids, public exchange bids, etc.).

In order to prepare its clients for this transition it will operate a test plan spanning a period of three weeks, starting on 16 October and ending on 3 November (inclusive).

The Depository has encouraged its clients to send their results to the organisation during the testing phase.

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