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ISO 15022
Data Field Dictionary

MT548: (85) Field 24B: Reason Code

FORMAT

Option B :4!c/[8c]/4!c (Qualifier)(Data Source Scheme)(Reason Code)

PRESENCE

Mandatory in optional subsequence C1a1A2a1A

QUALIFIER

(Error code(s): T89)

Order

M/O

Qualifier

R/N

CR

Options

Qualifier Description

1

M

NMAT

N

 

B

Unmatched Reason

 

or

PENF

N

 

B

Pending/Failing Reason

DEFINITION

This qualified generic field specifies:

NMAT

Unmatched Reason

Specifies the reason why the instruction has an unmatched status.

PENF

Pending/Failing Reason

Specifies the reason why the instruction has a failing settlement status.

CODES

If Qualifier is NMAT and Data Source Scheme is not present, Reason Code must contain one of the following codes:

ACRU

Accrued Interest Amount

Accrued interest amount does not match.

ADEA

Account Servicer Deadline Missed

Instruction was received after the account servicer's deadline. Processed on best effort basis.

CADE

Disagreement Transaction Call Delay

Transaction call delay does not match.

CLAT

Counterparty too Late for Matching

Counterparty's instruction was too late for matching.

CMIS

Matching Instruction Not Found

A matching instruction from your counterparty could not be found.

CPCA

Counterparty Cancelled Instruction

Counterparty cancelled their instruction.

DCMX

Disagreement Cum Ex

Disagreement if trade was executed cum or ex.

DDAT

Disagreement Settlement Date

Settlement date/time does not match.

DDEA

Disagreement Deal Price

Deal price does not match.

DELN

Disagreement Direction of Trade

Direction of the trade does not match. Counterparty expects a delivery from you, not a receipt or vice versa.

DEPT

Disagreement Place of Settlement

Place of settlement does not match.

DMCT

Disagreement Automatic Generation

Disagreement on automatic generation of market claim or transformation.

DMON

Disagreement Settlement Amount

Settlement amount does not match.

DQUA

Disagreement Quantity

Quantity of financial instrument does not match.

DSEC

Disagreement Security

Financial instrument identification does not match, for example, ISIN differs, Financial Instrument Attributes differs.

DTRA

Not Recognised

Counterparty has been contacted or contacted us, and does not recognise the transaction.

DTRD

Disagreement Trade Date

Trade date does not match.

FORF

Disagreement Forfeit Amount

Forfeit amount does not match.

FRAP

Disagreement Payment Code

Payment type does not match: your instruction is free of payment, your counterparty's instruction is against payment or vice versa.

ICAG

Incorrect Agent

Delivering or receiving agent (counterparty) does not match.

ICUS

Disagreement Receiving or Delivering Custodian

Delivering or receiving custodian does not match.

IEXE

Incorrect Buyer or Seller

Buyer (receiver) or seller (deliverer) does not match.

IIND

Disagreement Common Reference

Common reference does not match.

INPS

Disagreement Place of Safekeeping

The place of safekeeping information does not allow matching to take place.

INVE

Disagreement Investor Party

Investor party does not match.

LATE

Market Deadline Missed

Instruction was received after market deadline.

LEOG

Disagreement Letter of Guarantee Indicator

Counterparty is for settlement through Letter of Guarantee (L/G), your instruction is not, or vice versa.

MIME

Missing Market Side Details

Market side execution details are missing.

NARR

Narrative Reason

See narrative for details.

NCRR

Disagreement Currency Settlement Amount

Settlement amount currency does not match.

NMAS

No Matching Started

Matching process has not yet started.

PHYS

Disagreement Physical Settlement

Counterparty's instruction is physical settlement, your instruction is not, or vice versa.

PLCE

Disagreement Place of Trade

Place of trade does not match.

PLIS

Disagreement Place of Listing

Place of listing does not match.

PODU

Possible Duplicate Instruction

Instruction has not been matched. It is a possible duplicate instruction.

REGD

Disagreement Registration Details

Registration details linked to the transaction are incorrect.

REPA

Disagreement Termination Transaction Amount

Termination transaction amount does not match.

REPO

Disagreement Repurchase Rate

Repurchase rate does not match.

REPP

Disagreement Premium Amount

Premium amount does not match.

RERT

Disagreement Repurchase Rate Type

Repurchase rate type does not match.

RTGS

Disagreement RTGS System

Counterparty is for Real Time Gross Settlement (RTGS) system, you are for non-RTGS or vice versa.

SAFE

Disagreement Safekeeping Account

Safekeeping account used as matching criteria on the market concerned does not match. This includes Buyer/seller's account, direct client's account at the receiving/delivering agent, or receiving/delivering agent's account at the CSD.

SETR

Disagreement Settlement Transaction

Settlement transaction type does not match (relates to the settlement transaction type codes available for sequence E field 22F, qualifier SETR).

SETS

Disagreement Settlement System/Method

Settlement system/method does not match (for example, instruction is to settle using settlement system/method A. Counterparty expects settlement to occur using settlement system/method B).

TERM

Disagreement Closing Date/Time

Closing date/time does not match (repo).

TXST

Disagreement Tax Status

Disagreement on the tax status of the financial instruments to be settled.

UNBR

Unmatched Market Side Details

Market side trade is unmatched.

VASU

Disagreement Variable Rate Support

Variable rate support does not match.

CODES

If Qualifier is PENF and Data Source Scheme is not present, Reason Code must contain one of the following codes:

ADEA

Account Servicer Deadline Missed

Instruction was received after the account servicer's deadline. Processed on best effort basis.

AWMO

Awaiting Money

Financial instruments are delivered, but still awaiting money from the counterparty.

AWSH

Awaiting Securities from Counterparty

Financial instruments have not yet been received from the counterparty (if receive against payment), the money has been delivered.

BATC

Processing Batch Difference

Processing batch differs in the counterparty's instruction, for example, daytime/real-time versus overnight.

BENO

Beneficial Ownership Disagreement

Disagreement in beneficial ownership.

BLOC

Account Blocked

Your account is blocked, no instruction can settle over the account.

BOTH

Both Instructions on Hold

Counterparty's instruction and your instruction are on hold/frozen/in a preadvice mode.

BYIY

Buy-in Procedure

A buy-in procedure has started on the market (on your behalf if your instruction is a receipt, by the counterparty if your instruction is a delivery).

CAIS

Awaiting Securities

Awaiting financial instruments from a corporate action issue or other procedure, for example, conversion, dematerialisation, exchange, registration, stamping, splitting.

CANR

Cancellation/Confirmation Request

A cancellation or confirmation of instruction is required.

CDLR

Conditional Delivery Awaiting Release

Instruction is in a hold/frozen/preadvice mode - infrastructure platform is awaiting release.

CERT

Wrong Certificate Numbers

Certificate number error.

CHAS

Enquiry Sent

A chaser/enquiry has been sent.

CLAC

Counterparty Insufficient Securities

Insufficient deliverable financial instruments in counterparty's account or counterparty does not hold financial instruments.

CLAT

Counterparty too Late for Settlement

Counterparty's instruction was too late for settlement (that is received too late, matching or settlement problems solved too late).

CLHT

Clearing House Trade

Instructed settlement date does not agree with the settlement date on the Clearing House trade, that is, a specific type of trade in India.

CMON

Counterparty Insufficient Money

Insufficient money in counterparty's account.

COLL

Securities Pledged as Collateral

Financial instruments are not deliverable as they are pledged as collateral.

CPEC

Counterparty In Receivership

Counterparty is in receivership (form of bankruptcy where a court appointed person, the receiver, manages the affairs of the business).

CSDH

CSD Hold

Central securities depository has set the instruction in a hold/frozen/preadvice mode.

CVAL

CSD Validation

Instruction is in a hold/frozen/preadvice mode as it fulfils predefined conditions of a restriction processing type in the market infrastructure platform.

CYCL

Awaiting Next Settlement Cycle

Instruction is confirmed in the local market or is ready for settlement, awaiting next settlement cycle.

DENO

Unavailable Deliverable Denominated Quantity

Quantity instructed does not match the denomination available/deliverable. Physical financial instruments need to be obtained in deliverable denominated quantities.

DEPO

Refused Deposit for Issue of Depositary Receipts

Deposit of shares for the issuing of depositary receipts has been refused. The allotment granted by the issuer is exceeded by your transaction.

DISA

Natural Disaster

Exceptional closing of all financial institutions due to natural disaster, for example, typhoon, flooding, earthquake, hurricane.

DKNY

Counterparty Returned Shares

Counterparty has returned or refused the financial instruments.

DOCC

Awaiting Documents/Registration Instruction/Endorsements from Counterparty

Awaiting documents, registration instruction or endorsements from counterparty.

DOCY

Awaiting Documents/Registration Instruction/Endorsements from You

Awaiting documents, registration instruction or endorsements from you.

FLIM

Maximum Foreign Limit Reached

Insufficient deliverable financial instruments in your account as maximum foreign limit has been reached.

FROZ

Securities Frozen At CSD

Financial instruments are blocked at the CSD following a corporate event.

GLOB

Global Form Securities

Settlement cannot be executed; financial instruments are in global form.

IAAD

Status Reason Investigation

Failing reason being investigated.

INBC

Incomplete Number Count

Not all the instructions part of a pool have been received.

INCA

Income Adjustment Required

Financial instruments require income adjustment, for example, dividend or interest.

LAAW

Awaiting Other Transaction

Awaiting settlement of a purchase to cover failing positions.

LACK

Lack of Securities

Insufficient deliverable financial instruments in your account.

LALO

Securities are Loaned Out

Financial instruments are out on loan.

LATE

Market Deadline Missed

Instruction was received after market deadline.

LINK

Pending Linked Instruction

A linked instruction is pending/failing.

LIQU

Insufficient Central Bank Liquidity

Central Bank Liquidity is insufficient.

MINO

Minimum Settlement Quantity

Quantity instructed is lower than the minimum existing settlement quantity for the financial instrument.

MLAT

Money/Securities too Late for Settlement

Covering money/financial instruments were received too late for completing settlement on a same day basis.

MONY

Insufficient Money

Insufficient money in your account and/or credit line is insufficient.

MUNO

Multiple Settlement Quantity

Quantity instructed is not a multiple of an existing settlement quantity lot for the financial instrument.

NARR

Narrative Reason

See narrative field for reason.

NCON

Confirmation Not Received

Confirmation of settlement has not yet been received.

NEWI

New Issues

Financial instrument is a new issue and not yet available/tradable.

NOFX

No Foreign Exchange Instruction

A foreign exchange instruction from you is missing.

OBJT

Under Objection

Financial instruments are stolen, in dispute, under objection etc.

PART

Trade Settles in Partials

Trade will settle in partials.

PHCK

Physical Securities in Verification Process

Physical financial instruments have been received and are being checked for authenticity.

PHSE

Physical Delivery Delay

Settlement is physical. Financial instruments are being delivered.

PRCY

Counterparty Instruction on Hold

Counterparty's instruction is on hold/frozen/in a preadvice mode.

PREA

Your Instruction on Hold

Your instruction is on hold/frozen/in a preadvice mode.

PRSY

On Hold by System

The transaction was put on hold by the system.

REFS

Not In Good Order

Delivery/receipt was refused because physical financial instruments are not in good order.

REGT

Certificates Rejected

Certificates have been lodged with the registrar but rejected due to incomplete documentation or foreign ownership limitation reached.

SBLO

Securities Blocked

Financial instruments are blocked due to a corporate action event, realignment, etc.

SDUT

Lack of Stamp Duty Information

Stamp duty information is missing.

SETS

Settlement System/Method Modified

Settlement system/method has been modified at CSD to allow settlement.

STCD

Confirmation Discrepancy

Discrepancy in the settlement confirmation.

YCOL

Collateral Shortage

Insufficient collateral in your account to execute the instruction.

USAGE RULES

Using of a settlement status/reason alone means that the transaction is matched (if a matching process exists in the concerned market or at the concerned account servicer).

A pending transaction (PEND) becomes a failing transaction (PENF) on the settlement date instructed in the message, during the end of day reporting.