MT589: (14) Field 24B: Reason Code

FORMAT

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

PRESENCE

Mandatory in optional subsequence A2a

QUALIFIER

 

Order

M/O

Qualifier

R/N

CR

Options

Qualifier Description

1

M

DRRE

N

 

B

Depositary Receipt Other Reason

 

or

PEND

N

 

B

Pending Reason

 

or

REJT

N

 

B

Rejection Reason

DEFINITION

This qualified generic field specifies:

DRRE

Depositary Receipt Other Reason

Specifies the reason why the depositary receipt has a status 'Other'.

PEND

Pending Reason

Specifies the reason why the instruction has a pending status.

REJT

Rejection Reason

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

CODES

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

BYIY

Buy-in Procedure

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.

DOCC

Awaiting Documents/Endorsements from Counterparty

Awaiting documents or endorsements from counterparty.

DOCY

Awaiting Documents/Endorsements from You

Awaiting documents or endorsements from you.

LACK

Lack of Securities

Insufficient financial instruments in your account.

MCER

Missing or Invalid Certification

Awaiting receipt of adequate certification.

MONY

Insufficient Cash

Insufficient money in your account.

NARR

Narrative Reason

See narrative field for reason.

NEWI

New Issues

Financial instrument is a new issue and not yet available/tradable.

NOFX

No Foreign Exchange Instruction

A foreign exchange instruction from you is missing.

REFU

Instruction Refused/Not Recognised

Instruction has been refused or not recognised and is represented automatically.

TAMM

Trade Amended in Market

Trade is being amended in the market.

CODES

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

IACT

Incorrect activity type

Incorrect activity type specified, eg, pre-release conversion.

ICOP

Incorrect program conversion

Invalid or incorrect program conversion specified.

ICUS

Incorrect Custodian

Incorrect custodian specified for delivering ordinary shares.

MCRA

Missing credit authorisation

Credit authorisation is missing (for pre-release transactions).

NARR

Narrative Reason

See narrative field for reason.

ULNK

Unknown

Linked reference is unknown.

CODES

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

NARR

Narrative Reason

See narrative field for reason.

USAGE RULES

The qualifier of the reason code must be in line with the code used for the status in field 25D, eg, :25D::IPRC//REJT
:24B::REJT//PLCE