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ISO 15022
Data Field Dictionary

MT586: (23) Field 24B: Reason Code

FORMAT

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

PRESENCE

Mandatory in optional subsequence B2

QUALIFIER

(Error code(s): T89)

Order

M/O

Qualifier

R/N

CR

Options

Qualifier Description

1

M

CAND

N

 

B

Cancellation Reason

 

or

REJT

N

 

B

Rejection Reason

 

or

REMO

N

 

B

Remove Reason

DEFINITION

This qualified generic field specifies:

CAND

Cancellation Reason

Specifies the reason why the instruction is cancelled.

REJT

Rejection Reason

Specifies the reason why the instruction/request has a rejected status.

REMO

Remove Reason

Specifies the reason why the instruction is cancelled.

CODES

If Qualifier is CAND or Qualifier is REMO and Data Source Scheme is not present, Reason Code must contain the following code:

NARR

Narrative Reason

See narrative field for reason.

CODES

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

BENO

Beneficial Ownership Disagreement

Disagreement in beneficial ownership.

CAEV

Corporate Action Rejection

Corporate action pending on the financial instrument instructed.

DQUA

Quantity Rejection

Unrecognised or invalid instructed quantity.

DSEC

Disagreement Financial Instrument

Financial instrument identification does not match, that is, ISIN differs, or Financial Instrument Attributes differs.

NARR

Narrative Reason

See narrative field for reason.

PODU

Possible Duplicate

Possible duplicate instruction.

SAFE

Safekeeping Account Rejection

Unrecognised or invalid safekeeping account.

SSID

Standing Settlement Instruction Rejection

Standing Settlement Instruction is unknown or invalid.

USAGE RULES

Usage 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.

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