MT 549 Field Specifications

16. Field 24B: Reason

FORMAT

Option B

:4!c/[8c]/4!c

(Qualifier) (Data Source Scheme) (Reason Code)

PRESENCE

Optional

QUALIFIER

(Error code(s): T89)

Order	M/O	Qualifier	R/N	CR	Options	Qualifier Description
1	O	NMAT	R	C3	B	Unmatched Reason
2	O	PEND	R	C3	B	Pending Reason
3	O	PENF	R	C3	B	Pending/Failing Reason
4	O	REJT	R	C3	B	Rejection Reason
5	O	DEND	R	C3	B	Denied Reason
6	O	CAND	R	C3	B	Cancellation Reason
7	O	CANP	R	C3	B	Pending Cancellation Reason
8	O	DRRE	R	C3	B	Depositary Receipt Other Reason
9	O	NAFI	R	C3	B	Unaffirmed Reason
10	O	PACK	R	C3	B	Acknowledged/Accepted Reason
11	O	CACK	R	C3	B	Repo Call Acknowledgement Reason
12	O	REPR	R	C3	B	Repair Reason
13	O	PPRC	R	C3	B	Pending Processing Reason

DEFINITION

This qualified generic field specifies:

CAND	Cancellation Reason	Reason related instruction was cancelled, or related cancellation request executed.
CANP	Pending Cancellation Reason	Reason related cancellation request or related instruction for which a cancellation request was sent is pending.
CACK	Rep Call Acknowledgement Reason	Additional information on the repo call request acknowledgement.
DEND	Denied Reason	Reason related cancellation or repo call request has been denied.
DRRE	Depositary Receipt Other Reason	Reason depositary receipt has a status of 'Other'.
NAFI	Unaffirmed Reason	Reason the related instruction has an affirmation status unaffirmed.
NMAT	Unmatched Reason	Reason the instruction has a matching status unmatched.
PACK	Acknowledgement Reason	Additional information on the Acknowledgement.
PEND	Pending Reason	Reason the instruction has a pending settlement status.
PENF	Pending/Failing Reason	Reason the instruction has a pending/failing settlement status.
PPRC	Pending Processing Reason	Reason related instruction has a pending processing status.
REJT	Rejection Reason	Reason related instruction has a rejected processing status.
REPR	Repair Reason	Reason the related instruction has a processing status in repair.

CODES

If Qualifier is NMAT and Data Source Scheme is not present, Reason Code must contain one of the following codes (Error code(s): K24):

ADEA	Account Servicer Deadline Missed	Received after the account servicer's deadline. Processed on best effort basis.
CADE	Disagreement Repurchase Call Delay	The instruction has not been matched because the repurchase call delay does not match.
CHAR	Disagreement Charges Amount	The instruction has not been matched because the charges amount does not match.
CLAT	Counterparty too late for Matching	The instruction has not been matched. Counterparty's instruction was too late for matching.
CMIS	Matching Instruction Not Found	The instruction has not been matched; the matching instruction from your counterparty could not be found.
CPCA	Counterparty Cancelled Instruction	Your instruction is unmatched. Your counterparty has cancelled their instruction.
DDAT	Disagreement Settlement Date	The instruction has not been matched; the counterparty disagrees with the settlement date/time.
DDEA	Deal Price Not Match	Deal price does not match.
DEAL	Disagreement Deal Amount	Deal amount does not match.
DELN	Disagreement Direction of Trade	The instruction has not been matched; the counterparty expects a delivery from you, not a receipt, or vice versa.
DEPT	Disagreement Place of Settlement	The instruction has not been matched; the counterparty disagrees with the place of settlement.
DMON	Disagreement Settlement Amount	The instruction has not been matched; the counterparty disagrees with the settlement amount.
DQUA	Disagreement Quantity	The instruction has not been matched; the counterparty disagrees with the quantity of securities.
DSEC	Disagreement Security	The instruction has not been matched; the counterparty disagrees with the security/issue (i.e. ISIN differs, Financial Instrument Attributes differs...).
DTRA	Not Recognised	The instruction has not been matched; the counterparty has been contacted or has contacted us. Counterparty does not recognise the transaction.
DTRD	Disagreement Trade Date	The instruction has not been matched; the counterparty disagrees with the trade date.
EXEC	Disagreement Executing Broker's Commission	Executing broker's commission does not match.
FORF	Disagreement Forfeit Repurchase Amount	Forfeit repurchase amount does not match.
FRAP	Disagreement Payment Code	The instruction is unmatched because the wrong instruction was sent; your instruction is free, counterparty is against payment or vice versa.
ICAG	Incorrect Agent	The instruction has not been matched; incorrect delivering or receiving agent. (counterparty is incorrect).
ICUS	Disagreement receiving or delivering custodian	The instruction has not been matched; incorrect delivering or receiving custodian.
IEXE	Incorrect Buyer or Seller	The instruction has not been matched; incorrect buyer (receiver) or seller (deliverer).
IIND	Disagreement common reference	The instruction has not been matched; the counterparty disagrees with the common reference (for markets where a common reference is used as a matching criterion).
LATE	Market Deadline Missed	Instruction was received after market deadline.
LATE	Your Instruction Too Late for Matching	The instruction has not been matched. Your instruction was too late for matching.
LEOG	Disagreement Letter of Guarantee Indicator	The instruction has not been matched, the counterparty is for settlement through L/G, your instruction is not, or vice versa.
MCAN	Matching Record Cancelled	The corresponding matching record has been cancelled.
NARR	Narrative	Narrative reason.
NCRR	Disagreement Currency Settlement Amount	The instruction has not been matched; the counterparty disagrees with the currency of the settlement amount.
NMAS	No Matching Started	The instruction has not been matched; the matching process did not yet start.
PHYS	Disagreement Physical settlement	The instruction has not been matched. The counterparty is for physical settlement, your instruction is not, or vice versa.
PLCE	Disagreement Place of Trade	Place of trade does not match.
PODU	Possible Duplicate Instruction	The instruction has not been matched. It is a possible duplicate instruction.
REGD	Disagreement Registration Details	The instruction has not been matched; there are discrepancies in the registrations details linked to the transaction.
REPA	Disagreement Repurchase Amount	Repurchase amount does not match.
REPO	Disagreement Repurchase Rate	Repurchase rate does not match.
REPP	Disagreement Repurchase Premium Amount	Repurchase premium amount does not match.
TERM	Disagreement Closing date/time	Closing date/time does not match.
RERT	Disagreement Repurchase Rate Type	Repurchase rate type does not match.
RSPR	Disagreement Repurchase Spread Rate	Repurchase spread rate does not match.
RTGS	Disagreement RTGS System	The instruction has not been matched. The counterparty is for RTGS settlement system, you are for non-RTGS, or vice versa.
SAFE	Disagreement Safekeeping Account	The safekeeping account used as matching criteria on the market concerned (buyer/seller's account, direct client's account at the receiving/delivering agent, receiving or delivering agent's account at the CSD) does not match.
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	The instruction has not been matched; the counterparty disagrees with the settlement system/method instructed (ex: Instruction is to settle using settlement system/method A, counterparty expects settlement to occur using settlement system/method B).
TXST	Disagreement Tax Status	The instruction has not been matched, because of a disagreement on the tax status of the securities to be settled.
VASU	Disagreement Variable Rate Support	Variable rate support does not match (repo).

CODES

If Qualifier is PEND and Data Source Scheme is not present, Reason Code must contain one of the following codes (Error code(s): K24):

ADEA	Account Servicer Deadline Missed	Received after the account servicer's deadline. Processed on best effort basis.
AUTH	Sent to Tax Authorities	For tax reclaim, the event is pending because the reclaim is sent to the tax authorities.
AWMO	Awaiting Money	Securities delivered, but still awaiting money from counterparty.
AWSH	Awaiting Securities from Counterparty	The securities have not been received yet from the counterparty.
BATC	Processing Batch Difference	The settlement is pending. The processing batch differs in the counterparty's instruction, e.g. daytime/realtime versus overnight.
BENO	Beneficial Ownership Disagreement	Disagreement in beneficial ownership.
BLOC	Account Blocked	Your account is blocked, no instruction can settle over the account.
CAIS	Awaiting Securities	Awaiting securities from corporate action issue or other procedures, eg, conversion, dematerialisation, exchange, registration, stamping, splitting, etc.
CHAS	Enquiry Sent	Chaser/enquiry sent to agent or depository.
CLAC	Counterparty Insufficient Securities	Insufficient deliverable securities in counterparty's account or counterparty does not hold the securities.
CLHT	Clearing House Trade	Instructed Settlement date does not agree with the settlement date on the Clearing House trade i.e. a specific type of trade in India.
CMON	Counterparty Insufficient Money	Insufficient money in counterparty's account.
COLL	Securities Pledged As Collateral	The securities are not deliverable as they are pledged as collateral.
CONF	Confirmation Of Payment	Prior payment credited to account based contractual income collection agreement has been collected from issuer.
CPEC	Counterparty In Receivership	Settlement is pending. The counterparty is in receivership (form of bankruptcy where a court appointed person (the receiver) manages the affairs of the business).
CYCL	Awaiting Next Settlement Cycle	Your instruction is confirmed in the local market or is ready for settlement, awaiting next settlement cycle.
DENO	Unavailable Deliverable Denominated Quantity	The quantity instructed does not match the denomination available/deliverable. Physical securities need to be obtained in deliverable denominated quantities.
DEPO	Refused Deposit for Issue of Depositary Receipts	The deposit of shares for the issuing of Depositary Receipts has been refused. The allotment for Depositary Receipts granted by the issuer is exceeded by your transaction.
DISA	Natural disaster	The settlement is pending because of the exceptional closing of all financial institutions due to natural disaster (typhoon, flooding, earthquake, hurricane, etc).
DKNY	Counterparty Returned Shares	The counterparty has returned or refuses the securities.
DOCC	Awaiting Documents/Endorsements from Counterparty	Awaiting documents or endorsements from counterparty.
DOCY	Awaiting Documents/Endorsements from You	Awaiting documents or endorsements from you.
DQUA	Disagreement on Quantity	Unrecognised or invalid instructed quantity.
FLIM	Maximum Foreign Limit Reached	Insufficient deliverable securities in your account as maximum foreign limit has been reached.
FROZ	Securities Frozen At CSD	Delivery is pending due to securities being blocked at the CSD following a Corporate Event.
FUTU	Awaiting Settlement Date	Your instruction is pending settlement, awaiting the settlement date. No settlement problems to be reported.
GLOB	Global Form Securities	Settlement cannot be executed. Securities are in global form.
GUAD	Guaranteed Delivery Indicator Difference	Settlement is pending. The guaranteed delivery indicator differs in the counterparty's instruction.
IAAD	Status Reason Investigation	Pedning reason being investigated.
INCA	Income Adjustment Required	The securities require income, eg, dividend or interest, adjustment.
IPNC	Cancel Not Possible	Instruction has been processed and cannot be cancelled.
LACK	Lack Of Securities	Insufficient deliverable securities in your account.
LALO	Securities Are Loaned Out	Insufficient deliverable securities in your account as they are loaned out.
LATE	Market Deadline Missed	Instruction was received after market deadline.
LATT	Late Instruction	Instruction received after deadline, processing based on reasonable endeavour.
LINK	Pending Linked Instruction	Your instruction is pending settlement because the instruction linked to it is pending.
MCER	Missing Certification	Missing or invalid certification; instruction pending until receipt of adequate certification.
MINO	Minimum Settlement Amount	The securities amount is lower than the minimum existing settlement amount for the instructed financial instrument.
MONY	Insufficient Money	Insufficient money in your account.
MUNO	Multiple Settlement Amount	The securities amount is not a multiple of an existing settlement amount lot for the instructed financial instrument.
NARR	Narrative	Narrative reason.
NCON	Confirmation Not Received	The settlement confirmation has not been received yet.
NEWI	New Issues	The securities are new issues and not yet available/tradable.
NMAS	No Matching Required	The instruction has not been matched; the matching process is not required.
NOFX	No Foreign Exchange Instruction	A foreign exchange instruction from you is missing.
NPAY	No Payment	Payment has not been made by issuer.
NSEC	Not Delivered	Securities have not been delivered by issuer.
OVER	Overelection	The instructed position exceeds the eligible balance.
PART	Trade settles in Partials	The trade will settle in partials.
PHCK	Physical Securities in Verification Process	Physical shares have been received. Are being checked for authenticity.
PHSE	Physical Delivery Delay	The settlement is physical. Securities are being delivered.
PENR	Pending Receipt	The instruction is pending receipt of securities from a purchase, loan, etc.
PRCY	Counterparty instructed preadvise	Settlement is pending. Counterparty's instruction is a preadvice (i.e. matching only...).
PREA	Preadvice instructed	Settlement is pending. Your instruction is a preadvice (i.e. matching only...).
REFS	Not In Good Order	The delivery/receipt refused because the physical securities 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.
REFU	Instruction Refused/Not Recognised	The instruction has been refused or not recognised and is represented automatically.
SBLO	Securities Blocked	Settlement is pending. The securities are blocked (due to corporate action event, re-alignment...).
SDUT	Lack of Stamp Duty Information	The instruction is pending since stamp duty information is lacking.
SETS	Settlement system/method Modified	The instruction is pending. Settlement system/method has been modified at CSD to allow settlement.
TAMM	Trade Amended in Market	Trade is being amended in the market.
VLDA	Valid for Tax Authorities	For tax reclaim, the event is pending, the tax reclaim is valid for the tax authorities.
YCOL	Collateral Shortage	Not enough collateral in your account to execute the transaction.

CODES

If Qualifier is PENF and Data Source Scheme is not present, Reason Code must contain one of the following codes (Error code(s): K24):

ADEA	Account Servicer Deadline Missed	Received after the account servicer's deadline. Processed on best effort basis.
AWMO	Awaiting Money	Securities delivered, but still awaiting money from counterparty.
AWSH	Awaiting Securities from Counterparty	The securities have not been received yet from the counterparty.
BATC	Processing Batch Difference	The settlement is failing. The processing batch differs in the counterparty's instruction, e.g. daytime/realtime versus overnight.
BENO	Beneficial Ownership Disagreement	Disagreement in beneficial ownership.
BLOC	Account Blocked	Your account is blocked, no instruction can settle over the account.
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 securities from corporate action issue or other procedures, eg, conversion, dematerialisation, exchange, registration, stamping, splitting, etc.
CANR	Cancellation/confirmation request	The instruction was in suspense. The suspense period is finished so your cancellation or confirmation of instruction is required.
CERT	Wrong Certificate Numbers	Certificate number error.
CHAS	Enquiry Sent	Chaser/enquiry sent to agent or depository.
CLAC	Counterparty Insufficient Securities	Insufficient deliverable securities in counterparty's account or counterparty does not hold the securities.
CLAT	Counterparty too late for Settlement	Counterparty's instruction was too late for settlement (i.e. 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 i.e. a specific type of trade in India.
CMON	Counterparty Insufficient Money	Insufficient money in counterparty's account.
COLL	Securities Pledged As Collateral	The securities are not deliverable as they are pledged as collateral.
CPEC	Counterparty In Receivership	Settlement is failing. The counterparty is in receivership (form of bankruptcy where a court appointed person (the receiver) manages the affairs of the business).
CYCL	Awaiting Next Settlement Cycle	Your instruction is confirmed in the local market or is ready for settlement, awaiting next settlement cycle.
DENO	Unavailable Deliverable Denominated Quantity	The quantity instructed does not match the denomination available/deliverable. Physical securities need to be obtained in deliverable denominated quantities.
DEPO	Refused Deposit for Issue of Depositary Receipts	The deposit of shares for the issuing of Depositary Receipts has been refused. The allotment for Depositary Receipts granted by the issuer is exceeded by your transaction.
DISA	Natural disaster	The settlement is failing because of the exceptional closing of all financial institutions due to natural disaster (typhoon, flooding, earthquake, hurricane, etc).
DKNY	Counterparty Returned Shares	The counterparty has returned or refuses the securities.
DOCC	Awaiting Documents/Endorsements from Counterparty	Awaiting documents or endorsements from counterparty.
DOCY	Awaiting Documents/Endorsements from You	Awaiting documents or endorsements from you.
FLIM	Maximum Foreign Limit Reached	Insufficient deliverable securities in your account as maximum foreign limit has been reached.
FROZ	Securities Frozen At CSD	Delivery is failing due to securities being blocked at the CSD following a Corporate Event.
GLOB	Global Form Securities	Settlement is failing. Securities are in global form.
GUAD	Guaranteed Delivery Indicator Difference	Settlement is failing. The guaranteed delivery indicator differs in the counterparty's instruction.
IAAD	Status Reason Investigation	Failing reason being investigated.
INCA	Income Adjustment Required	The securities require income, eg, dividend or interest, adjustment.
LAAW	Awaiting Other Transaction	Awaiting settlement of a covering purchase. The delivery instruction fails due to a pending/failing covering purchase.
LACK	Lack Of Securities	Insufficient deliverable securities in your account.
LALO	Securities Are Loaned Out	Insufficient deliverable securities in your account as they are loaned out.
LATE	Market Deadline Missed	Instruction was received after market deadline.
LATE	Too Late for Settlement	Your instruction was too late for settlement (i.e. received too late, matching or settlement problems solved too late).
LINK	Pending Linked Instruction	Your instruction is failing settlement because the instruction linked to it is pending/failing.
MINO	Minimum Settlement Amount	The securities amount is lower than the minimum existing settlement amount for the instructed financial instrument.
MLAT	Money/Securities too late for Settlement	The covering money/securities were received too late for completing settlement on a same day basis.
MONY	Insufficient Money	Insufficient money in your account.
MUNO	Multiple Settlement Amount	The securities amount is not a multiple of an existing settlement amount lot for the instructed financial instrument.
NARR	Narrative	Narrative reason.
NCON	Confirmation Not Received	The settlement confirmation has not been received yet.
NEWI	New Issues	The securities are new issues and not yet available/tradable.
NOFX	No Foreign Exchange Instruction	A foreign exchange instruction from you is missing.
OBJT	Under Objection	The shares are stolen, in dispute, under objection, etc.
PART	Trade settles in Partials	The trade will settle in partials.
PHCK	Physical Securities in Verification Process	Physical shares have been received. Are being checked for authenticity.
PHSE	Physical Delivery Delay	The settlement is physical. Securities are being delivered.
PRCY	Counterparty instructed preadvise	Settlement is pending. Counterparty's instruction is a preadvice (i.e. matching only...).
PREA	Preadvice instructed	Settlement is failing. Your instruction is a preadvice (i.e. matching only...).
REFS	Not In Good Order	The delivery/receipt refused because the physical securities 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	Settlement is failing. The securities are blocked (due to corporate action event, re-alignment, etc.).
SDUT	Lack of Stamp Duty Information	The instruction is failing since stamp duty information is lacking.
STCD	Confirmation Discrepancy	There is a discrepancy in the settlement confirmation.
SETS	Settlement system/method Modified	The instruction is pending. Settlement system/method has been modified at CSD to allow settlement.
YCOL	Collateral Shortage	Not enough collateral in your account to execute the transaction.

CODES

If Qualifier is REJT and Data Source Scheme is not present, Reason Code must contain one of the following codes (Error code(s): K24):

ADEA	Account Servicer Deadline Missed	Received after the account servicer's deadline. Processed on best effort basis.
ADEA	Instruction Received After Response Deadline	Instruction was received after response deadline date.
BATC	Processing Batch Rejection	Unrecognised or invalid Processing Batch (i.e. daytime/realtime while only possible to settle in overnight batch).
BPAR	Business Partner Number Rejection	Unrecognised or invalid Business Partner Number.
BREF	Bank Reference Number Rejection	Unrecognised or invalid Bank Reference Number.
BUSE	Type of Order Rejection	Unrecognised or invalid type of order.
CADE	Repurchase Call Delay Rejection	Unrecognised or invalid repurchase call delay.
CAEV	Corporate Action Rejection	The transaction is rejected due to corporate action on the financial instrument instructed.
CASH	Cash Account Rejection	Unrecognised or invalid cash account.
CASY	Impossible Cash Settlement System	Impossible standing arrangements override instruction for the cash settlement system.
COMC	Commercialization Contract Rejection	Unrecognized or invalid commercialization contract.
CUTO	Cut-off Time Rejection	The instruction is rejected. Cut-off time has been exceeded.
DADR	Address details Rejection	The address details are incorrect or can not be recognised, eg, unknown city, postal code, etc.
DDAT	Settlement Date Rejection	Unrecognised or invalid settlement date (i.e. date is not a settlement date for the instructed market, settlement date is too old...).
DDEA	Deal Price Rejection	Unrecognised or invalid deal price.
DEPT	Place of Settlement Rejection	Unrecognised or invalid Place of Settlement.
DMON	Settlement Amount Rejection	Unrecognised or invalid settlement amount.
DORD	Registration Request Data and Order Rejection	Disagreement between the data on the registration request and the order.
DQUA	Quantity Rejection	Unrecognised or invalid settlement quantity.
DSEC	Security Rejection	Unrecognised or invalid financial instrument identification (i.e. invalid ISIN, security not eligible at the instructed market...).
DTRD	Trade Date Rejection	Unrecognised or invalid trade date.
EVNM	Unrecognised Corporate Action Event Number	Unrecognised corporate action event number.
FEEE	Fee/Commission Rejection	Unrecognized or invalid fee or commission.
FORF	Forfeit Repurchase Amount Rejection	Unrecognised or invalid forfeit repurchase amount.
IACT	Incorrect activity type	Incorrect activity type specified, eg, pre-release conversion.
ICAG	Agent Rejection	Unrecognised or invalid receiving or delivering agent.
ICOP	Incorrect program conversion	Invalid or incorrect program conversion specified.
ICUS	Receiving or Delivering Custodian Rejection	Unrecognised or invalid receiving or delivering custodian.
IEXE	Buyer or Seller Rejection	Unrecognised or invalid buyer or seller.
IIND	Common reference Rejection	Unrecognised, invalid or missing Common Reference.
INNA	Narrative Information Rejection	Unrecognised or invalid SLA agreed narrative information.
INVA	Invalid for Tax Authorities	For tax reclaim, the reclaim is invalid for the tax authorities.
LACK	Lack of Securities	Insufficient deliverable securities in your account. The account owner has over-instructed.
LATE	Market Deadline Missed	Instruction was received after market deadline.
LATE	Too Late	The instruction has been rejected for further processing as your instruction is too late for the settlement date specified.
LEOG	Letter of Guarantee Indicator Rejection	Unrecognised or invalid letter of guarantee indicator instructed.
MCRA	Missing credit authorisation	Missing credit authorisation (for pre-release transactions).
MINO	Minimum Settlement Amount	The securities amount is lower than the minimum existing settlement amount for the instructed financial instrument.
MLEG	Missing Legal Power	Missing legal power for transfer.
MUNO	Multiple Settlement Amount	The securities amount is not a multiple of an existing settlement amount available for the instructed financial instrument.
NARR	Narrative reason	Narrative reason.
NCRR	Settlement Amount Currency Rejection	Unrecognised or invalid settlement amount currency.
NMTY	Mismatch Option Number and Option Type	Mismatch between option number and option type.
NRGM	No Match	The cancellation request has been rejected since more than one instruction match to the cancellation criteria.
NRGN	Not Found	The cancellation request has been rejected since the instruction could not be found.
OPNM	Unrecognised Option Number	Unrecognised option number.
OPTY	Invalid Option Type	Invalid option type.
OWNT	Type of Ownership Rejection	The type of ownership indicated is not correct.
OVER	Overelection	The instructed position exceeds the eligible balance.
PHYS	Physical settlement impossible	Physical settlement is impossible for the instructed financial instrument.
PLCE	Place of Trade Rejection	The instruction has been rejected because the place of trade is unrecognised or invalid.
REFE	Reference not unique	The instruction has been rejected because the reference must be unique.
REFT	Refused by the Tax Authorities	For tax reclaim, the reclaim is refused by the tax authorities.
REPA	Repurchase Amount Rejection	Unrecognised or invalid repurchase amount.
REPO	Repurchase Rate Rejection	Unrecognised or invalid repurchase rate.
REPP	Repurchase Premium Amount Rejection	Unrecognised or invalid repurchase premium amount.
REQM	Missing Registration Request	The registration request to be completed by the buyer and to be forwarded to the issuer is missing.
REQW	Wrong Registration Request	The registration request to be completed by the buyer and to be forwarded to the issuer is wrong. You have used the registration request of a different issuer/registrar.
TERM	Closing Date/Time Rejection	Unrecognised or invalid closing date/time.
RERT	Repurchase Rate Type Rejection	Unrecognised or invalid repurchase rate type.
RREA	Disagreement in registration reason	The registration reason indicated is not correct.
RSPR	Repurchase Spread Rate Rejection	Unrecognised or invalid repurchase spread rate.
RTGS	Impossible to use the RTGS system instructed	It is not possible to use the RTGS system instructed (NRTG or YRTG).
SAFE	Safekeeping Account Rejection	Unrecognised or invalid message sender's safekeeping account.
SETR	Settlement Transaction Rejection	Unrecognised or invalid settlement transaction type (relates to the settlement transaction type codes available for sequence E field 22F, qualifier SETR).
SETS	Settlement system/method Rejection	Unrecognised or invalid settlement system/method instructed.
SHAR	Shareholder Number Rejection	Unrecognised or invalid Shareholder Number.
SIGN	Invalid Signature	The registration request does not have a valid signature of the owner of the financial instrument.
STAM	Not Stamped or Signed	The financial instrument is not ceded (stamped and/or duly signed).
STAT	Missing Statutes	Missing statutes or commercial register or other legal documents.
TXST	Tax Status Rejection	Unrecognised or invalid tax status of the securities instructed.
ULNK	Unknown	The message was not recognised (unknown linked reference).
VASU	Variable Rate Support Rejection	Unrecognised or invalid variable rate support (repo).

CODES

If Qualifier is DEND and Data Source Scheme is not present, Reason Code must contain one of the following codes (Error code(s): K24):

ADEA	Account Servicer Deadline Missed	Received after the account servicer's deadline.
DCAN	Denied Since Already Cancelled	The cancellation request has been denied since the instruction has already been cancelled.
DCAL	Call Denied Since Already Applied	The repo call request is denied since another call already applies.
DFOR	Denied since not allowed	The repo call request is denied. Call not allowed on the concerned repo (out of delay...).
DPRG	Denied Since in Progress	The cancellation request/repo call request has been denied because the process of settlement is in progress.
DREP	Denied Since Repo Ended	The cancellation request has been denied because the repo is cancelled.
DSET	Denied Since Already Settled	The cancellation request/repo call request has been denied since the instruction has already settled.
IPNC	Instruction Processed	Instruction has been processed and cannot be cancelled.
LATE	Market Deadline Missed	Received after market deadline.
NARR	Narrative reason	Narrative reason.

CODES

If Qualifier is CAND and Data Source Scheme is not present, Reason Code must contain one of the following codes (Error code(s): K24):

CANI	Cancelled By Yourselves	The instruction has been cancelled as you requested.
CANO	Cancelled by another party	The instruction has been cancelled by another party than the instructing party, e.g. market infrastructure such as a Stock Exchange.
CANS	Cancelled By System	The instruction has been cancelled by the system.
CANT	Cancelled due to Transformation	Your original instruction has been cancelled and replaced due to a Corporate Action.
CANZ	Cancelled due to Split/Partial Settlement	Your original instruction has been cancelled and replaced to allow a partial or split settlement.
CSUB	Cancelled by Agent	The instruction has been cancelled by the agent.
CREG	Cancelled by issuer/registrar	The instruction has been cancelled by the issuer/registrar.
NARR	Narrative reason	Narrative reason.

CANI	Cancelled By Yourselves	The instruction has been cancelled as you requested.
CANS	Cancelled By System	The instruction has been cancelled by the system.
CSUB	Cancelled by Agent	The instruction has been cancelled by the agent.
CREG	Cancelled by issuer/registrar	The instruction has been cancelled by the issuer/registrar.
NARR	Narrative reason	Narrative reason.

CODES

If Qualifier is DRRE and Data Source Scheme is not present, Reason Code must contain one of the following codes (Error code(s): K24):

NARR

Narrative reason

Narrative reason.

CODES

If Qualifier is NAFI and Data Source Scheme is not present, Reason Code must contain one of the following codes (Error code(s): K24):

NAFF

Not Affirmed

Counterparty has not affirmed.

CODES

If Qualifier is PACK and Data Source Scheme is not present, Reason Code must contain one of the following codes (Error code(s): K24):

ADEA	Account Servicer Deadline Missed	Received after the account servicer's deadline. Processed on best effort basis.
LATE	Market Deadline Missed	Instruction was received after market deadline.
NSTP	Not STP	The instruction was not STP and had to be processed manually.
OVER	Overelection	The instructed position exceeds the eligible balance.
RQWV	Accepted Without Voting Rights	The instruction registration is accepted but the registration is not in full, ie, not with voting rights.
SMPG	Market Practice Rule discrepancy	The transaction is accepted but does not comply with the market practice rule published for the concerned market or process.
NARR	Narrative	Other (see narrative reason).

CODES

If Qualifier is CANP and Data Source Scheme is not present, Reason Code must contain one of the following codes (Error code(s): K24):

ADEA	Account Servicer Deadline Missed	Received after the account servicer's deadline. Processed on best effort basis.
NARR	Narrative	Other (see narrative reason).
DQUA	Disagreement on Quantity	Unrecognised or invalid instructed quantity.
CONF	Awaiting Confirmation	Awaiting confirmation of cancellation from the counterparty.

NARR	Narrative	Other (see narrative reason).
CONF	Awaiting Confirmation	Awaiting confirmation of cancellation from the counterparty.

CODES

If Qualifier is CACK and Data Source Scheme is not present, Reason Code must contain one of the following codes (Error code(s): K24):

ADEA	Account Servicer Deadline Missed	Received after the account servicer's deadline. Processed on best effort basis.
CALR	Being Processed	The repo call request is being processed.
CALI	Issued	The repo call is issued.
CALP	Processed	The repo call is processed.
CALD	In process	The repo call is in process.

CODES

If Data Source Scheme is not present and Qualifier is REPR, Reason Code must contain the following code (Error code(s): K24):

ADEA	Account Servicer Deadline Missed	Received after the account servicer's deadline. Processed on best effort basis.
BATC	Processing Batch Repair	Unrecognised or invalid Processing Batch (i.e. daytime/realtime while only possible to settle in overnight batch).
BUSE	Type of Order Repair	Unrecognised or invalid type of order.
CADE	Repurchase Call Delay Repair	Unrecognised or invalid repurchase call delay.
CASH	Cash Account Repair	Unrecognised or invalid cash account.
CASY	Cash Settlement System Repair	Impossible standing arrangements override instruction for the cash settlement system.
COMC	Commercialization Contract Repair	Unrecognized or invalid commercialization contract.
DDAT	Settlement Date Repair	Unrecognised or invalid settlement date (i.e. date is not a settlement date for the instructed market, settlement date is too old...).
DDEA	Deal Price Repair	Unrecognised or invalid deal price.
DEPT	Place of Settlement Repair	Unrecognised or invalid Place of Settlement.
DMON	Settlement Amount Repair	Unrecognised or invalid settlement amount.
DQUA	Quantity Repair	Unrecognised or invalid settlement quantity..
DSEC	Security Repair	Unrecognised or invalid financial instrument identification (i.e. invalid ISIN, security not eligible at the instructed market...).
DTRD	Trade Date Repair	Unrecognised or invalid trade date.
FEEE	Fee/Commission Repair	Unrecognised or invalid fee or commission.
FORF	Forfeit Repurchase Amount Repair	Unrecognised or invalid forfeit repurchase amount.
ICAG	Agent Repair	Unrecognised or invalid receiving or delivering agent.
ICUS	Receiving or Delivering Custodian Repair	Unrecognised or invalid receiving or delivering custodian.
IEXE	Buyer or Seller Repair	Unrecognised or invalid buyer or seller.
IIND	Common reference Repair	Unrecognised, invalid or missing Common Reference.
INNA	Narrative Information Repair	Unrecognised or invalid SLA agreed narrative information.
LEOG	Letter of Guarantee Indicator Repair	Unrecognised or invalid letter of guarantee indicator instructed.
NARR	Narrative reason	Other (see narrative reason).
NCRR	Settlement Amount Currency Repair	Unrecognised or invalid settlement amount currency.
NRGM	No Match	The cancellation request is in repair since more than one instruction match to the cancellation criteria.
NRGN	Not Found	The cancellation request is in repair since the instruction could not be found.
PHYS	Physical settlement impossible	Physical settlement is impossible for the instructed financial instrument.
PLCE	Place of Trade Repair	Unrecognised or invalid place of trade.
REPA	Repurchase Amount Repair	Unrecognised or invalid repurchase amount.
REPO	Repurchase Rate Repair	Unrecognised or invalid repurchase rate.
REPP	Repurchase Premium Amount Repair	Unrecognised or invalid repurchase premium amount
TERM	Closing Date/Time Repair	Unrecognised or invalid closing date/time.
RERT	Repurchase Rate Type Repair	Unrecognised or invalid repurchase rate type.
RSPR	Repurchase Spread Rate Repair	Unrecognised or invalid repurchase spread rate.
RTGS	RTGS system Repair	It is not possible to use the RTGS system instructed (NRTG or YRTG).
SAFE	Safekeeping Account Repair	Unrecognised or invalid message sender's safekeeping account.
SETR	Settlement Transaction Repair	Unrecognised or invalid settlement transaction type (relates to the settlement transaction type codes available for sequence E field 22F, qualifier SETR).
SETS	Settlement system/method Repair	Unrecognised or invalid settlement system/method instructed.
TXST	Tax Status Repair	Unrecognised or invalid tax status of the securities instructed.
ULNK	Unknown	The message was not recognised - unknown linked reference.
VASU	Variable Rate Support Repair	Unrecognised or invalid variable rate support (repo).

CODES

If Qualifier is PPRC and Data Source Scheme is not present, Reason Code must contain one of the following codes (Error code(s): K24):

ADEA	Account Servicer Deadline Missed	Instruction was received after the account servicer's deadline. Processed on best effort basis.
BLOC	Account Blocked	Your account is blocked, no instruction can settle over the account.
CAIS	Awaiting Securities	Awaiting securities from corporate action issue or other procedures, eg, conversion, dematerialisation, exchange, registration, stamping, splitting etc.
CERT	Wrong Certificate Numbers	Certificate number error.
COLL	Securities Pledged as Collateral	The securities are not deliverable as they are pledged as collateral.
DENO	Unavailable Deliverable Denominated Quantity	The quantity instructed does not match the denomination available/deliverable. Physical securities need to be obtained in deliverable denominated quantities.
DOCY	Awaiting Documents/Endorsements from You	Awaiting documents or endorsements from you.
FLIM	Maximum Foreign Limit Reached	Insufficient deliverable securities in your account as maximum foreign limit has been reached.
GLOB	Global Form Securities	Settlement cannot be executed. Securities are in global form.
LACK	Lack of Securities	Insufficient deliverable securities in your account.
LALO	Securities are Loaned Out	Insufficient deliverable securities in your account as they are loaned out.
MINO	Minimum Settlement Amount	The securities amount is lower than the minimum existing settlement amount for the instructed financial instrument.
MONY	Insufficient Money	Insufficient money in your account.
MUNO	Multiple Settlement Amount	The securities amount is not a multiple of an existing settlement amount lot for the instructed financial instrument.
NARR	Narrative	Other (see narrative reason).
NOFX	No Foreign Exchange Instruction	A foreign exchange instruction from you is missing.
YCOL	Collateral Shortage	Not enough collateral in your account to execute the transaction

USAGE RULES

The reason requested in the MT549 must reason codes available for the message type requested. Ex: STAT reason code (Missing statutes or commercial register or other legal documents) should not be used if the MT549 is a request for a MT548.

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