MT558: (15) Field 24B: Reason

FORMAT

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

PRESENCE

Mandatory in optional subsequence A2a

QUALIFIER

(Error code(s): T89)

Order

M/O

Qualifier

R/N

CR

Options

Qualifier Description

1

M

CAND

N

 

B

Cancellation Reason

 

or

DEND

N

 

B

Denied Reason

 

or

NMAT

N

 

B

Unmatched Reason

 

or

PEND

N

 

B

Pending Reason

 

or

REJT

N

 

B

Rejection Reason

 

or

CANP

N

 

B

Pending Cancellation Reason

DEFINITION

This qualified generic field specifies:

CAND

Cancellation Reason

Specifies the reason why the instruction is cancelled.

CANP

Pending Cancellation Reason

Specifies the reason why a cancellation request sent for the related instruction is pending.

DEND

Denied Reason

Specifies the reason why the request was denied.

NMAT

Unmatched Reason

Specifies the reason why the instruction has an unmatched status.

PEND

Pending Reason

Specifies the reason why the cancellation or replacement has a pending status.

REJT

Rejection Reason

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

CODES

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

CANI

Cancelled By Yourselves

Instruction has been cancelled as per your request.

CANS

Cancelled By System

Instruction has been cancelled by the settlement system.

CSUB

Cancelled By Agent

Instruction has been cancelled by the agent.

NARR

Narrative Reason

See narrative field for reason.

CODES

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

CPCA

Cancelled by Counterparty

Counterparty cancelled their instruction.

CODES

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

CONF

Awaiting Confirmation

Awaiting confirmation of cancellation from the counterparty.

CODES

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

FUTU

Future

All checks relative to the instruction are successful.

PRCY

Counterparty Instruction on Hold

Counterparty's instruction is on hold/frozen/in a preadvice mode.

PREA

Your Instruction on Hold

Your instruction is on hold/frozen/in a preadvice mode.

PRSY

On Hold by System

The transaction was put on hold by the system.

CODES

If Qualifier is DEND or Qualifier is REJT, and no standard codes exist, the Data Source Scheme allocated to the triparty agent must be used. Reason Code must then be one of the codes published by the agent.