MT 502 Field Specifications

18. Field 22a: Indicator

FORMAT

Option F	:4!c/[8c]/4!c	(Qualifier) (Data Source Scheme) (Indicator)
Option H	:4!c//4!c	(Qualifier) (Indicator)

PRESENCE

Mandatory

QUALIFIER

(Error code(s): T89)

Order	M/O	Qualifier	R/N	CR	Options	Qualifier Description
1	M	BUSE	N	C9	H	Buy/Sell Indicator
2	O	PROC	N		F	Processing Indicator
3	O	RPOR	R		F	Reporting Indicator
4	O	PRIR	N		F	Priority Indicator
5	O	SETG	N		F	Settlement Instruction Generation Indicator
6	O	TTCO	R		F	Trade Transaction Condition Indicator
7	O	COST	N		F	Commission Type
8	O	TOOR	R		F	Type of Order
9	O	TILI	N		F	Time Limit
10	M	PAYM	N		H	Payment Indicator
11	O	AUTO	N		F	Auto Routing Indicator
12	O	CATB	N		F	Charges/Tax Basis
13	O	TRCN	R		F	Trade Regulatory Conditions
14	O	TRSE	N		F	Trading Session Indicator
15	O	CAOP	N		H	Corporate Action Option Code
16	O	RMTH	N		F	Rounding Method Requested

DEFINITION

This qualified generic field specifies:

BUSE	Whether the message relates to the sale or purchase of financial instruments, as shown in the original order to buy or sell.
PROC	Additional information relative to the processing of the trade.
RPOR	If the trade is to be reported to other parties.
PRIR	Execution priority of the trade.
SETG	Generation of a settlement instruction by an ETC service provider.
TTCO	Conditions under which the order/trade is to be/was executed.
COST	Commission type under which the order/trade is to be/was executed.
TOOR	Specifies the type of instruction to a broker/dealer to buy or sell a financial instrument.
TILI	Specifies from/until when an order must be executed.
TOOR	Type of order.
TILI	Time limit.
PAYM	Whether the transaction is free or against payment.
AUTO	Whether an automatic routing system is involved.
CATB	Charges/tax basis under which the trade/order is to be/was executed.
TRCN	Trade regulatory conditions, eg, in the US under SEC Sec regulation 10.b.10.
TRSE	Specifies the trading phase at the stock exchange.
TRSE	Indicates the trading phase at the stock exchange, eg, opening auction phase, main trading phase, closing auction phase, etc.
CAOP	Possible options or choices available to account owner (for investment funds).
RMTH	Specifies the rounding direction applied to fractional numbers, eg, round up.
RMTH	Rounding Method Requested. Rounding method to be applied to the ordered amount of securites. The Rounding modulus is either standard for the concerned instrument or agreed beforehand by receiver and sender (Funds Industry).

CODES

When Qualifier is BUSE, Indicator must contain one of the following codes (Error code(s): K22):

BUYI	Buy.
CROF	Cross from (Funds Industry).
CROT	Cross to (Funds Industry).
DIVR	Reinvestment of dividend order (Funds Industry. Not to be used for corporate actions).
IPOO	IPO order.
REDM	Redemption of funds.
SELL	Sell.
SUBS	Subscription to funds.
SWIF	Switch from. (Change an investment from one sub-fund to another sub-fund).
SWIT	Switch to. (Change an investment from one sub-fund to another sub-fund).

CODES

If Data Source Scheme is not present and Qualifier is PROC, Indicator must contain one of the following codes (Error code(s): K22):

CLOP	The trade is to close a position.
OPEP	The trade is to open a position.

CODES

If Data Source Scheme is not present and Qualifier is RPOR, Indicator must contain one of the following codes (Error code(s): K22):

EXCH	The trade details are to be reported to a stock exchange. This stock exchange is identified in sequence D Other Parties.
TRRE	The trade details are to be reported to a regulatory organisation. This stock regulatory organisation is identified in sequence D Other Parties.

CODES

If Data Source Scheme is not present and Qualifier is PRIR, Indicator must contain a numerical value in the range 0001 - 9999 where 0001 refers to the highest priority (Error code(s): K22).

CODES

If Data Source Scheme is not present and Qualifier is SETG, Indicator must contain one of the following codes (Error code(s): K22):

GENS	This field specifies if the ETC service provider is to generate an MT 528 ETC Client-Side Settlement Instruction or MT 529 ETC Market-Side Settlement Instruction.
NOGE	This field specifies if the ETC service provider is not to generate an MT 528 or 529 where a previous agreement to do so exists.

CODES

If Data Source Scheme is not present and Qualifier is TTCO, Indicator must contain one of the following codes (Error code(s): K22):

BCRO	Result of optionwhen set (UK specific).
BCRP	Result of repo when set (UK specific).
BCPD	Place of delivery; in country of incorporation when unset (UK specific).
BCFD	Form of delivery; not for foreign registration when unset (UK specific).
BCBL	Board lots; not set for odd lots (UK specific).
BCBN	Bad names, not set for good names (UK specific).
BLKO	Block order. Trade is a block trade, allocation instructions will follow.
BTEX	Trade to be done at best execution.
BLKO	Block order.
CBNS	Trade is to be executed cum bonus.
CCPN	Trade is to be executed cum coupon.
CDIV	Trade is to be executed cum dividend.
CLEN	Clean - do not pay government tax on the accrued interest on the bond, and consequently price is higher.
CRST	Cross trade allowed. Cross trade are allowed whereby buy and sell orders are offset without recording the trade on the exchange.
CRST	Cross trade allowed.
CRTS	Trade is to be executed cum rights.
CWAR	Trade executed cum warrants.
DIOR	Directed order. Order must be executed with a specific trading party.
DIRT	Dirty. Trade is executed dirty.
DIOR	Directed order - This is an order that the Receiver of the message is to execute the trade with a specific broker, or other financial institution.
DIRT	Dirty - must pay government tax on accrued interest on the bond, and consequently the bond price is lower.
DORD	Direct order. Order - This is an order to be executed by a trading party broker other than the trading executing party to which the order is sent. In this case, the instructing party has traded with another broker which will subsequently send an advice of execution to the executing party. to which this message is sent and which is acting as the clearing broker.
FORW	Order is based on forward price. Price will be calculated after the close of the dealing period.
FORW	Order is based on forward price.
FRAC	Fractional parts allowed.
GTDL	Trad Guaranteed Delivery: Delivery of the Financial instrument on settlement date is guranteed.
GTDL	Trade to be settled with guaranteed delivery.
HIST	Order is based on historic price.
NCRS	No cross trade allowed.
SPCU	Trade Executed Special Cum Dividend: Trade is executed with a special cum dividend, i.e. buying after the ex date and getting the dividend.
SPEX	Trade Executed Special Ex Dividend: Trade is executed with a special ex dividend, i.e., selling before the ex date without the coupon.
SPCU	Special cum dividend - buying after the ex date and getting a dividend.
SPEX	Special ex dividend - selling before the ex date without the coupon.
XBNS	Trade is to be executed ex bonus.
XCPN	Trade is to be executed ex coupon.
XDIV	Trade is to be executed ex dividend.
XRTS	Trade is to be executed ex rights.
XWAR	Trade executed ex warrants.

CODES

If Data Source Scheme is not present and Qualifier is COST, Indicator must contain one of the following codes (Error code(s): K22):

CLDI	Commission is as per client agreement. type is client directed commission.
FLAT	Commission is a flat fee.
FLAT	Commission basis is a flat fee for the transaction.
PERU	Commission basis is per unit of financial instrument.
PERN	Commission type is a percentage of the principal.
PWCD	Commission type is a percentage commission waived as cash discount.
PWEU	Commission type is a percentage commission waived as additional units.
SOFT	Commission type is a percentage (soft dollar) commission.
STEP	Commission type is for step-out trade.

CODES

If Data Source Scheme is not present and Qualifier is TOOR, Indicator must contain one of the following codes (Error code(s): K22):

ALNO	All or none (A round-lot market or limit-price order which must be executed in its entirety or not at all; unlike FIKI, these orders are not cancelled if not executed as soon as received).
CARE	Carefully. Order that is not to be executed as a whole because it may disturbe the price.
CARE	Carefully (An order which is not to be executed as a whole if the executing broker judges that it may disturb the price).
COMB	Combination order (An order which is linked to another order to buy or sell and must be executed as a unit, both or none, or cancelled as a unit. The linkage sequence must be completed with a reference to the linked order).
DISC	Discretionary (An order where the executing broker or investment manager decides on the quantity or price).
DNIN	Do not increase (A limit order to buy or a stop order to sell or a stop limit order which is not to be increased in shares on the ex-dividend date as a result of a stock dividend or distribution).
DNRE	Do not reduce (A limit order to buy or a stop order to sell, or a stop-limit order to sell which is not to be reduced in price by the amount of an ordinary cash dividend. A DNRE applies only to ordinary stock dividends; it should be reduced for other distributions - eg, when a stock goes 'ex' stock dividend or rights).
ICEB	Iceberg order. Type of limit order whose overall quantity is not transparent to the market. Rather, only a client-defined part of the order is shown to the market (the 'tip of the iceberg'). Upon execution of the first 'tip' (i.e. partial execution to the client while for the market it does not appear to be a 'partial') the system releases the next 'tip' of the same size to the market until the 'iceberg' has been melted down successfully. Different from a usual care order.
LIWI	Limit with (An order to be executed at a limit price, with a round-lot (or board-lot) sales; valid only for odd lot orders).
LIWO	Limit without (An order to be executed at a limit price, without a round-lot (or board-lot) sales; valid only for odd lot orders).
LMTO	Limit order (An order to buy at the indicated price limit or lower or an order to sell at the indicated limit price or higher).
MAKT	At market (An order to buy or sell a specified amount of a financial instrument at the quoted market price or better).
MANH	Market not held (An order to buy or sell a stated amount of a financial instrument at the quoted market price or better with some discretion on the price limit).
MTLO	Market to Limit Order. Type of order that couples the high possibility of execution (Market Order) with a protection against unwanted price fluctuations (Limit Order).
MUTO	Market until touched (An order which becomes a market order once the market price is reached).
NOHE	Not held (An order which may be executed in partials or outside the hours of the exchange or other exchange rules).
ORLI	Order lie (An order which is related to another order where the second part may be cancelled without cancelling the first. In this case, the second order is identified as the second part. Normally the sell order must be executed before the buy order. The linkage sequence must be completed with a reference to the linked order).
STLI	Stop limit (A stop order to buy which becomes a limit order at the limit price when the financial instrument trades at or above the stop price after the order is submitted. A stop order to sell which becomes a limit order at the limit price when the financial instrument trades at or below the stop price after the order is submitted).
STOP	Stop order (An order to buy which becomes a market order when the financial instrument trades at or above the stop price after the order is submitted or an order to sell which becomes a market order when the financial instrument trades at or below the stop price after the order is submitted).
See usage rules for the following codes:
BCSE	Buy contra short exempt.
BCSH	Buy contra short.
BMIN	Buy minus (An order to buy at a price lower than the current market price. This is an order to buy a stated amount of a financial instrument provided that its price is not higher than the last sale if the last sale was a minus or zero minus tick, not higher than the last sale minus the minimum fractional change in the stock if the last sale was a plus or zero plus tick. The price limit indicates the highest price at which the order can be executed).
See usage rules for the following codes:
SLOS	Stop loss (An order to sell that sets the sell price below the market price).
SPLU	Sell plus (An order to sell a stated amount provided that the price is not lower than the last sale price if the last sale was a plus or zero plus tick and not lower than the last sale minus the minimum fractional change in the financial instrument if the last sale was a minus or zero minus tick).
SSEX	Sell short exempt (An order to sell short which is exempt from short-sale rules).
SSHO	Sell short (An order to sell that the seller does not own; a sale effected by delivering a financial instrument borrowed by or for the account of the seller).

CODES

If Data Source Scheme is not present and Qualifier is TILI, Indicator must contain one of the following codes (Error code(s): K22):

CLOS	At the closing. Order to be executed at or around the closing price.
CLOS	At the closing (An order to buy or sell at the closing price or an odd lot order to buy or sell to be filled at the closing of the round lot offer, plus a differential for a buy order or minus the differential on a sell order).
FAKI	Fill and Kill. An order to be executed as much as possible. Non-executed parts of a FAK are deleted.
FIKI	Fill or kill (A market or limit order that is to be executed in its entirety as soon as it is submitted; if not so executed, the order is to be cancelled).
GDAY	Good for the day (An order that, if not executed, expires at the end of the trading day on which the order is entered).
GTCA	Good until cancelled (An order that remains in effect until it is either executed or cancelled).
GTHD	Good through date (An Order that if not executed, expires at the end of the specified expiry date).
GTMO	Good for the month (An order that, if not executed, expires at the end of the month on which the order is entered).
GTNM	Good until the end of next month.
GTXO	Good till crossed.
IOCA	Immediate or cancel (A market or limit order to be executed in whole or in part as soon as it is submitted; any portion not so executed is to be cancelled).
OPEN	At the opening. Market or limit order to be executed at the opening of the stock exchange or not at all; all or part of any order not executed at the opening is treated as cancelled.
OPEN	At the opening (A round lot order to be executed at the opening of the market).

CODES

When Qualifier is PAYM, Indicator must contain one of the following codes (Error code(s): K22):

APMT	Against payment.
FREE	Free.

CODES

If Data Source Scheme is not present and Qualifier is AUTO, Indicator must contain one of the following codes (Error code(s): K22):

DDOT	Indicates the Designated Order Turnaround system: computarized order routing system used at the New York Stock Exchange is to be used.
SDOT	Indicates the evolution of the DOT system, a Designated Order Turnaround system: computarized order routing system used at the New York Stock Exchange is to be used.

DDOT	DOT system.
SDOT	SuperDOT system.

CODES

If Data Source Scheme is not present and Qualifier is CATB, Indicator must contain one of the following codes (Error code(s): K22):

FLAT	Charges/tax The charges/tax basis is flat or absolute for the trade being allocated.
PERU	The charges/tax basis is per unit of financial instrument.

CODES

If Data Source Scheme is not present and Qualifier is TRCN, Indicator must contain one of the following codes (Error code(s): K22):

SOLI	The trade was solicited by the executing broker. The broker has suggested to its client to buy/sell securities.
USOL	The trade was unsolicited. The client acts on its own without advice from the executing broker.

CODES

If Data Source Scheme is not present and Qualifier is TRSE, Indicator must contain one of the following codes (Error code(s): K22):

AUCT	Orders that are traded in regularly occuring auctions: orders are accumulated and executed on the basis of defined algorithms.
CONT	Trading process where orders are executed directly against each other as they hit the marketplace.

CODES

If qualifier is CAOP, Indicator must contain one of the following codes (Error code(s): K22):

CASH	Distribution of cash.
DRIP	Reinvestment proceeds into securities.

CODES

If Data Source Scheme is not present and Qualifier is RMTH, Indicator must contain one of the following codes (Error code(s): K22):

RDWN	Rounding down.
RDUP	Rounding up.
EXAC	Exact.

USAGE RULES

The qualifier CAOP is to be used for investment funds only, whereby the holder has the option to receive the distribution in cash or reinvest in securities.

If field :22H::BUSE//SWIT is used, then in the linkage sequence reference should be made to the previous message sent and containing field :22H::BUSE/SWIF.

Qualifier TOOR codes BCSE, BCSH and BMIN are only to be used for orders to buy.

Qualifier TOOR codes SLOS, SPLU, SSEX and SSHO are only to be used for orders to sell.