MT558: (12) Field 24B: Reason

FORMAT

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

PRESENCE

Conditional (see rule C2) in mandatory sequence A

QUALIFIER

 

Order

M/O

Qualifier

R/N

CR

Options

Qualifier Description

1

O

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

DEFINITION

This qualified generic field specifies:

CAND

Cancellation Reason

Specifies the reason why the instruction is cancelled.

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

Cancellation by Yourselves

Instruction has been cancelled as per your request.

CANS

Cancellation by System

Instruction has been cancelled by the settlement system.

CSUB

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