| ISO20022

MT537: (91) Field 24B: Reason Code

Option B

:4!c/[8c]/4!c

(Qualifier)(Data Source Scheme)(Reason Code)

Optional (referenced in rule C15) in optional subsequence D1a1

(Error code(s): T89)

Order	M/O	Qualifier	R/N	Options	Qualifier Description
1	O	ACTV	N	B	Active Reason
2	O	REMO	N	B	Remove Reason
3	O	UPDT	N	B	Update Reason
4	O	NCOM	N	B	Not Computed Reason

This qualified generic field specifies:

ACTV	Active Reason	Provides the reason why a penalty is active. The penalty can be new or can become active again, for example, as the result of a re-allocation or a re-inclusion.
NCOM	Not Computed Reason	Provides the reason why a penalty was not computed.
REMO	Remove Reason	Specifies the reason why the penalty is removed.
UPDT	Update Reason	This reason for the status Active (ACTV) is provided when the penalty has been updated due to the change in the relevant reference data or after the re-inclusion of the penalty.

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

NEWP	New Penalty	Penalty is new.
OTHR	Other	See narrative.
RALO	Reallocated Reason	Re-allocation of a Late Matching Fail Penalty (LMFP) from the instructing party to the delivering/receiving party, or from the failing party to the non-failing party, or vice versa.
SWIC	Switch Reason	Switch between the failing and non-failing party of a cash penalty.
UPDT	Update Reason	The penalty has been updated due to the change in the relevant reference data or after the re-inclusion of the penalty.

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

CORP	Corporate Action	Specifies that due to a specific corporate action, the security does no longer exists.
INSO	Insolvency	Penalty was removed because insolvency proceedings are opened against the failing participant.
OTHR	Other	See narrative.
RALO	Reallocated Reason	Re-allocation of a Late Matching Fail Penalty (LMFP) from the instructing party to the delivering/receiving party, or from the failing party to the non-failing party, or vice versa.
SEMP	Settlement on Multiple Platforms	Settlement on multiple platforms where one of the platforms is closed for settlement (either cash or securities).
SESU	Settlement Suspended	Penalty was removed because ISIN is suspended from settlement due to a reconciliation issue.
SUSP	Trading Suspended	Penalty was removed because of ISIN suspension from trading.
SWIC	Switch Reason	Switch between the failing and non-failing party of a cash penalty.
TEIM	Technical Impossibilities	Penalty was removed because there were technical impossibilities at the CSD level that prevent settlement, such as: a failure of the infrastructure components, a cyber-attack, network problems.

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

OTHR

Other

See narrative.