MT510 — Registration Status and Processing Advice
The intermediate advice in the registration cycle. When the transfer agent cannot answer immediately with a final MT501 (REGI confirmed or REJT), MT510 serves as waypoint: "I received, I'm working on it, here's where I stand".
Purpose
MT510 serves two main situations:
- Intermediate status — the transfer agent has received the MT500 but cannot yet confirm the registration (KYC due diligence in progress, compliance check, trust powers verification…). Status
:25D::REGS//PEND. - Technical acknowledgement — receipt acknowledgement with status
RECEorMTCH, distinct from MT501 which is the final confirmation.
MT510 has a limited lifetime: it is replaced by an MT501 as soon as the final status is known (typically 2-5 business days after the MT500). Beyond the agreed SLA timeframe, the custodian must follow up.
Sequence structure
- GENL — General Information: reference (SEME), linked MT500 reference (RELA), current status.
- STATDET — Status Details: security, quantity, beneficiary, account, detailed reason.
Block 4 tags
| Tag | Name | Format | Usage |
|---|---|---|---|
:25D: | Status Code | :4!c/[8c]/4!c | REGS//RECE (received), REGS//MTCH (matched), REGS//PEND (pending), REGS//PROC (processing). |
:24B: | Reason Code | :4!c/[8c]/4!c | REGS/PEND/KYCV (KYC verification), REGS/PEND/DCMI (documentation incomplete), REGS/PROC/CMPL (compliance review). |
:35B: | Instrument | 4*35x | ISIN carried over from MT500. |
:36B: | Quantity | :4!c//4!c/15d | REGI. |
:95Q: | Party Identification | :4!c//4*35x | BENM — registered holder identity in validation. |
:97A: | Account | :4!c//35x | SAFE — source account. |
:70E: | Narrative | 10*35x | REGS/… — status detail and estimated timeframe. |
Real-world example
Citi advises BNP Paribas that the 16 May MT500 is well received but the registration awaits KYC validation on the John Smith Family Trust. PEND status with KYCV reason, completion expected on 20 May:
{1:F01CITIUS33XXXX0000000000}{2:I510BNPAFRPPXXXXN}{3:{108:RSA20260517001}}{4:
:16R:GENL
:20C::SEME//RSA20260517001
:20C::RELA//REG20260516001
:23G:NEWM
:98A::PREP//20260517
:25D::REGS//PEND
:16S:GENL
:16R:STATDET
:35B:ISIN US4592001014
IBM CORP
:36B::REGI//UNIT/5000,
:95Q::BENM
JOHN SMITH FAMILY TRUST
:97A::SAFE//IBMHOLDREG-001
:25D::REGS//PEND
:24B::REGS/PEND/KYCV
:70E::REGS//KYC VERIFICATION IN PROGRESS — DOCUMENTATION RECEIVED AWAITING COMPLIANCE REVIEW EXPECTED COMPLETION 20260520
:16S:STATDET}:20C::RELA//REG20260516001— original MT500 reference.:25D::REGS//PEND— Pending status.:24B::REGS/PEND/KYCV— reason: KYC Verification in progress.:70E::REGS//— narrative specifies the estimated lead time (20 May).
Common pitfalls
- No timeframe — an MT510 PEND without estimated lead time in
:70E:leaves the custodian blind. Always estimate a target date, even provisional. - Prolonged PEND — beyond the contractual SLA (typically 5 business days), the custodian must escalate, not wait for an MT501. Follow up with the registrar.
- Redundant RECE status — issuing an MT510 RECE in addition to a network acknowledgement (MT599) is useless: reserved for cases where the RECE adds extra info (internal case number, estimated completion date).
- Missing RELA — without
:20C::RELA//, MT510 is unusable. ETL stuck. - Wrong quantity in 36B — the
:36B::REGI//quantity must carry over the MT500 quantity, even if a PEND status doesn't yet reflect the eventual registered quantity (PACK case).
ISO 20022 equivalent
- reda.002 — Reference Data Reporting Response (functional equivalent on the registrar side).
- sese.024 — Settlement Status Advice for intermediate statuses of REGT movements.