MT 584 Field Specifications

33. Field 24B: Reason Code

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	REJT	N	C9	B	Rejection Reason
	or	NMAT	N	C9	B	Unmatched Reason
	or	NAFI	N	C9	B	Unaffirmed Reason

DEFINITION

This qualified generic field specifies the reason why the instruction identified in the message has the status specified in field 25D Status Code. It specifies:

REJT	Reason related instruction has a processing status rejected.
NMAT	Reason related instruction has a matching status unmatched.
NAFI	Reason related instruction has an affirmation status unaffirmed.

CODES

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

ADEA	Instruction was received after the Receiver's deadline.
BATC	Unrecognised or invalid Processing Batch (i.e. daytime/realtime while only possible to settle in overnight batch).
BUSE	Unrecognised or invalid type of order.
CADE	Unrecognised or invalid repurchase call delay.
CAEV	The transaction is rejected due to corporate action on the financial instrument instructed.
CASH	Unrecognised or invalid cash account.
CASY	Impossible standing arrangements override instruction for the cash settlement system.
CUTO	The instruction is rejected. Cut-off time has been exceeded.
DDAT	Unrecognised or invalid settlement date (i.e. date is not a settlement date for the instructed market, settlement date is too old...).
DDEA	Unrecognised or invalid deal price.
DEPT	Unrecognised or invalid Place of Settlement.
DMON	Unrecognised or invalid settlement amount.
DQUA	Unrecognised or invalid settlement quantity.
DSEC	Unrecognised or invalid financial instrument identification (i.e. invalid ISIN, security not eligible at the instructed market...).
DTRD	Unrecognised or invalid trade date.
FORF	Unrecognised or invalid forfeit repurchase amount.
ICAG	Unrecognised or invalid receiving or delivering agent.
ICUS	Unrecognised or invalid receiving or delivering custodian.
IEXE	Unrecognised or invalid buyer or seller.
IIND	Unrecognised, invalid or missing Common Reference.
INNA	Unrecognised or invalid SLA agreed narrative information.
LATE	Instruction was received after market deadline.
LATE	The instruction has been rejected for further processing as your instruction is too late for the settlement date specified.
LEOG	Unrecognised or invalid letter of guarantee indicator instructed.
MINO	The securities amount is lower than the minimum existing settlement amount for the instructed financial instrument.
MUNO	The securities amount is not a multiple of an existing settlement amount available for the instructed financial instrument.
NARR	Other (see narrative reason).
NCRR	Unrecognised or invalid settlement amount currency.
PHYS	Physical settlement is impossible for the instructed financial instrument.
PLCE	Unrecognised or invalid place of trade.
REFE	The instruction has been rejected because the reference must be unique.
REPA	Unrecognised or invalid repurchase amount.
REPO	Unrecognised or invalid repurchase rate.
REPP	Unrecognised or invalid repurchase premium amount.
TERM	Unrecognised or invalid closing date/time.
RERT	Unrecognised or invalid repurchase rate type.
RSPR	Unrecognised or invalid repurchase spread rate.
RTGS	It is not possible to use the RTGS system instructed (NRTG or YRTG).
SAFE	Unrecognised or invalid message sender's safekeeping account.
SETR	Unrecognised or invalid settlement transaction type (relates to the settlement transaction type codes available for sequence E field 22F, qualifier SETR).
SETS	Unrecognised or invalid settlement system/method instructed.
TXST	Unrecognised or invalid tax status of the securities instructed.
ULNK	The message was not recognised - unknown linked reference.
VASU	Unrecognised or invalid variable rate support (repo).

CODES

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

ADEA	Instruction was received after the Receiver's deadline.
CADE	Repurchase call delay does not match.
CHAR	Charges amount does not match.
CLAT	The instruction has not been matched. Counterparty's instruction was too late for matching.
CMIS	No potential match has been found.
CPCA	Your instruction is unmatched. Your counterparty has cancelled their instruction.
DDAT	Settlement date does not match.
DDEA	Deal price does not match.
DEAL	Deal amount does not match.
DELN	The instruction has not been matched; the counterparty expects a delivery from you, not a receipt, or vice versa.
DEPT	The instruction has not been matched; the counterparty disagrees with the place of settlement.
DMON	Settlement amount does not match.
DQUA	Quantity of financial instrument does not match.
DSEC	Financial instrument identification does not match (i.e. ISIN differs, Financial Instrument Attributes differs...).
DTRA	The instruction has not been matched; the counterparty has been contacted or has contacted us. Counterparty does not recognise the transaction.
DTRD	Trade date does not match.
EXEC	Executing broker's commission does not match.
FORF	Forfeit repurchase amount does not match.
FRAP	The instruction is unmatched because the wrong instruction was sent; your instruction is free, counterparty is against payment or vice versa.
ICAG	The instruction has not been matched; incorrect delivering or receiving agent. (counterparty is incorrect).
ICUS	The instruction has not been matched; incorrect delivering or receiving custodian.
IEXE	The instruction has not been matched; incorrect buyer (receiver) or seller (deliverer).
IIND	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	Instruction was received after market deadline.
LATE	The instruction has not been matched. Your instruction was too late for matching.
LEOG	The instruction has not been matched, the counterparty is for settlement through L/G, your instruction is not, or vice versa..
MCAN	The corresponding matching record has been cancelled.
NARR	Other (see narrative reason).
NCRR	The instruction has not been matched; the counterparty disagrees with the currency of the settlement amount.
PHYS	The instruction has not been matched. The counterparty is for physical settlement, your instruction is not, or vice versa.
PLCE	Place of trade does not match.
PODU	The instruction has not been matched. It is a possible duplicate instruction.
REGD	The instruction has not been matched; there are discrepancies in the registrations details linked to the transaction.
REPA	Repurchase amount does not match.
REPO	Repurchase rate does not match.
REPP	Repurchase premium amount does not match.
TERM	Closing date/time does not match.
RERT	Repurchase rate type does not match.
RTGS	The instruction has not been matched. The counterparty is for RTGS settlement system, you are for non-RTGS, or vice versa.
RSPR	Repurchase spread rate does not match.
SAFE	Safekeeping Account does not match. The safekeeping account used as matching criteria on the instructed market (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	Settlement transaction type does not match (relates to the settlement instruction type codes available for sequence E field 22F, qualifier SETR in the original instruction).
SETS	The instruction has not been matched; the counterparty disagrees with the settlement system/method instructed (ex: Instruction is to settle using settlement system/method counterparty expects settlement to occur using settlement system/method B).
TXST	The instruction has not been matched, because of a disagreement on the tax status of the securities to be settled.
VASU	Variable rate support does not match (repo).

CODES

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

NAFF	Counterparty has not affirmed.