IBAN will be progressively introduced in most OECD countries to allow Straight Through Processing of cross border payments. This is with a view to ensuring entity data is consistent across the MiFID compliant landscape and the regulator is able to identify each firm correctly. Once a firm has submitted this data, the regulator will map the FRN to the BIC and the firm must ensure that the TMU is aware of the BIC on an ongoing basis. There you need specific bank and its code, before you include the branch and beneficiary account information so the funds can be sent. Nedbank is a primarily South African bank, with its head office in Johannesburg.

Country	City	Bank Name	Branch	SWIFT
India	Mumbai	Macquarie Securities India PVT LTD	Macquarie Securities India PVT LTD	MSIVINB1XXX