Operations
All SIT operations have an identical two-part structure:
- a SIT zone, used by the system to locate the information
that it requires for the exchange, posting, delivery mode with the
recipient and calculation of statistics and commissions;
- a Bank zone, transparent for the SIT, of which only the
first four characters (operation sub-code) can be verified before
the operation’s exchange with the receiving bank.
In the SIT transaction, the banking information is independent of the
notion of the transaction code, in order to be able to modify or to allow
for several possibilities, without having to create, a new transaction
each time.
In the SIT, transaction rejections and cancellations
– which are considered to be new transactions for the system – retain all of the
initial transaction’s information, while associating additional specific
information.
According to the same principle, a cancellation’s rejection includes the
cancellation transaction (cancellation prefix and initial transaction) and a
prefix specific to the rejection.
As such, the structure of the SIT transaction provides for adaptability to
the needs which may be expressed by the profession.
The structure of the currently exchangeable transactions (transactions,
or exchangeable in the short-term over the SIT, is described in the
MINOS (Handbook of Interbank
Transaction Standards).
MINOS is published under the responsibility of the “Standardization of
SIT Transactions” working group of the
CFONB. The task of this group is to study and update the structure
of interbank transactions.
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