MT 576 Field Specifications

42. 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 in an optional sequence

QUALIFIER

(Error code(s): T89)

Order	M/O	Qualifier	R/N	CR	Options	Qualifier Description
1	M	BUSE	N		H	Buy/Sell Indicator
2	O	TOOR	N		F	Type of Order
3	O	TILI	N		F	Time Limit
4	O	TRTR	N		F	Trade Transaction Type
5	O	TTCO	R		F	Trade Transaction Condition Indicator
6	O	COST	N		F	Commission Type
7	M	PAYM	N		H	Payment Indicator
8	O	REST	N		F	Restrictions

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.
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.
TRTR	Transaction type prior to the settlement process.
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.
PAYM	Whether the transaction is free or against payment.
REST	Specifies the regulatory restrictions applicable to a financial instrument.
REST	Restrictions governing the transfer of ownership of the security.

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 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 (An order which is not to be executed as a whole because 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).
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

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

BLKO	Block order. Trade is a block trade, allocation instructions will follow.
BLKO	Block order.
CBNS	Trade executed cum bonus.
CCPN	Trade executed cum coupon.
CDIV	Trade 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 trades are allowed whereby buy and sell orders are offset without recording the trade on the exchange.
CRST	Cross trade allowed.
CRTS	Trade 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	Order Direct 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 MT 513 Advice of execution 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	Guaranteed Delivery: Delivery of the financial instrument on settlement date is guaranteed.
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 executed ex bonus.
XCPN	Trade executed ex coupon.
XDIV	Trade executed ex dividend.
XRTS	Trade executed ex rights.
XWAR	Trade executed ex warrants.

CODES

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

BASK	Basket trade. The transaction is a single order to buy and sell several financial instruments for the purpose of simulateneous buying and selling. Baskets are often used for a set of 15 or more financial instruments and play a role in arbitrage activity.
INDX	Index trade. The transaction is a single order to buy or sell all underlying financial instruments of an index, eg, S&P500.
LIST	List trade.
PROG	Program trade. The transaction relates to computer-driven automatically executed trades in large volumes of a set of several financial instruments.
TRAD	Trade.

BASK	Basket trade.
INDX	Index trade.
LIST	List trade.
PROG	Program trade.
TRAD	Trade.

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

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 REST, Indicator must contain one of the following (Error code(s): K22):

144A	Pursuant to Rule 144A. Ownership or transfer of an unregistered security issued, pursuant to US legal restrictions 144A.
144A	Unregistered security issued pursuant to US legal restrictions 144A.
NRST	Ownership or transfer is not subject to restrictions.
RSTR	Ownership or transfer is subject to restrictions (not pursuant to 144A).

USAGE RULES

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.