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Message Categories in Current Scope of CBPR+ Migration

Source: SWIFT

In this post let us get a bird’s eye view of the broad message categories which are undergoing migration from MT to MX in CBPR+ usage.

As you can see from the above representation, the categories of messages are shown clearly.

The most important category to mention is the Payments category which comprises of widely used messages like MT 103, MT 202 etc.

Along with that, Payment Initiation messages like MT 101 are also getting migrated.

Then comes Reporting messages like MT 910, MT 900 etc., which are very commonly used in cross border payments.

Comparatively less used categories like messages related to Cheques, for example, MT 110 and Direct Debit messages like MT 104 are also in the ambit of the migration.

Every year in the month of November, SWIFT releases the Standard Release or SR, in which more and more new messages come under the scope of the CBPR+ migration. 

So, in November 2024, messages related to Charges will also enter the scope of the CBPR+ MT to MX migration.

In November 2025, MX messages related to Exceptions & Investigation category will get introduced and will thus come under the migration scope.

Now you can observe here that along with the categories of the messages, SWIFT is announcing one more thing that is in scope of CBPR+ - rich and structured data. So, not only the banks have to be ready to handle these new categories of MX messages, but the data in those MX messages should be rich and structured as much as possible. Why? Because we know the entire purpose of moving to MX was to gain access to structured, rich, and granular data. 

So, along with launching new messages in standard release every year, SWIFT continues to provide detailed guidance about how to incorporate such structured data in the MX messages through its specialised subdivision or group - the PMPG (Payment Market Practice group).

In this way, step by step, the CBPR+ migration will continue increasing its scope until all the MT messages will get replaced by the more advanced MX messages.

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