| ISO20022

MT549: (17) Field 24B: Reason Code

FORMAT

Option B

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

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

PRESENCE

Optional (referenced in rule C3) in optional sequence B

QUALIFIER

(Error code(s): T89)

Order	M/O	Qualifier	R/N	CR	Options	Qualifier Description
1	O	NMAT	R	C3	B	Unmatched Reason
2	O	PEND	R	C3	B	Pending Reason
3	O	PENF	R	C3	B	Pending/Failing Reason
4	O	REJT	R	C3	B	Rejection Reason
5	O	DEND	R	C3	B	Denied Reason
6	O	CAND	R	C3	B	Cancellation Reason
7	O	CANP	R	C3	B	Pending Cancellation Reason
8	O	MOPN	R	C3	B	Pending Modification Reason
9	O	NAFI	R	C3	B	Unaffirmed Reason
10	O	PACK	R	C3	B	Acknowledged/Accepted Reason
11	O	CACK	R	C3	B	Repo Call Acknowledgement Reason
12	O	REPR	R	C3	B	Repair Reason
13	O	PPRC	R	C3	B	Pending Processing Reason
14	O	CGEN	R	C3	B	Generated Reason

DEFINITION

This qualified generic field specifies:

CACK	Repo Call Acknowledgement Reason	Specifies additional information on the repo call request acknowledgement.
CAND	Cancellation Reason	Specifies the reason why the related instruction is cancelled, or the related cancellation request is executed.
CANP	Pending Cancellation Reason	Specifies the reason why the cancellation request is pending.
CGEN	Generated Reason	Specifies the reason why the transaction was generated.
DEND	Denied Reason	Specifies the reason why the request was denied.
MOPN	Pending Modification Reason	Specifies the reason why the modification request is pending.
NAFI	Unaffirmed Reason	Specifies the reason why the instruction has an unaffirmed status.
NMAT	Unmatched Reason	Specifies the reason why the instruction has an unmatched status.
PACK	Acknowledged/Accepted Reason	Specifies additional information about the processed instruction.
PEND	Pending Reason	Specifies the reason why the instruction has a pending status.
PENF	Pending/Failing Reason	Specifies the reason why the instruction has a failing settlement status.
PPRC	Pending Processing Reason	Specifiers the reason why the instruction has a pending processing status.
REJT	Rejection Reason	Specifies the reason why the instruction/request has a rejected status.
REPR	Repair Reason	Specifies the reason why the instruction is in repair.

CODES

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

ACRU	Accrued Interest Amount	Accrued interest amount does not match.
ADEA	Account Servicer Deadline Missed	Received after the account servicer's deadline. Processed on best effort basis.
CADE	Disagreement Transaction Call Delay	Transaction call delay does not match.
CHAR	Disagreement Charges Amount	Charges amount does not match.
CLAT	Counterparty too Late for Matching	Counterparty's instruction was too late for matching.
CMIS	Matching Instruction Not Found	A matching instruction from your counterparty could not be found.
CPCA	Counterparty Cancelled Instruction	Counterparty cancelled their instruction.
DCMX	Disagreement Cum Ex	Disagreement if trade was executed cum or ex.
DDAT	Disagreement Settlement Date	Settlement date/time does not match.
DDEA	Deal Price Not Match	Deal price does not match.
DEAL	Disagreement Deal Amount	Deal amount does not match.
DELN	Disagreement Direction of Trade	Direction of the trade does not match. Counterparty expects a delivery from you, not a receipt or vice versa.
DEPT	Disagreement Place of Settlement	Place of settlement does not match.
DMCT	Disagreement Automatic Generation	Disagreement on automatic generation of market claim or transformation.
DMON	Disagreement Settlement Amount	Settlement amount does not match.
DQUA	Disagreement Quantity	Quantity of financial instrument does not match.
DSEC	Disagreement Security	Financial instrument identification does not match, for example, ISIN, financial instrument attributes differs...
DTRA	Not Recognised	Counterparty has been contacted or contacted us, and does not recognise the transaction.
DTRD	Disagreement Trade Date	Trade date does not match.
EXEC	Disagreement Executing Broker's Commission	Executing broker's commission does not match.
FORF	Disagreement Forfeit Amount	Forfeit amount does not match.
FRAP	Disagreement Payment Code	Payment type does not match: your instruction is free of payment, your counterparty's instruction is against payment or vice versa.
ICAG	Incorrect Agent	Delivering or receiving agent (counterparty) does not match.
ICUS	Disagreement Receiving or Delivering Custodian	Delivering or receiving custodian does not match.
IEXE	Incorrect Buyer or Seller	Buyer (receiver) or seller (deliverer) does not match.
IIND	Disagreement Common Reference	Common reference does not match.
INPS	Disagreement Place of Safekeeping	The place of safekeeping information does not allow matching to take place.
INVE	Disagreement Investor Party	Investor party does not match.
LATE	Market Deadline Missed	Your instruction was too late for matching.
LEOG	Disagreement Letter of Guarantee Indicator	Counterparty is for settlement through Letter of Guarantee (L/G), your instruction is not, or vice versa.
MCAN	Matching Record Cancelled	Corresponding matching record has been cancelled.
MIME	Missing Market Side Details	Market side execution details are missing.
NARR	Narrative	Other details do not match. See narrative for details.
NCRR	Disagreement Currency Settlement Amount	Settlement amount currency does not match.
NMAS	No Matching Started	Matching process has not yet started.
PHYS	Disagreement Physical Settlement	Counterparty's instruction is physical settlement, your instruction is not, or vice versa.
PLCE	Disagreement Place of Trade	Place of trade does not match.
PLIS	Disagreement Place of Listing	Place of listing does not match.
PODU	Possible Duplicate Instruction	Instruction has not been matched. It is a possible duplicate instruction.
REGD	Disagreement Registration Details	Registration details linked to the transaction are incorrect.
REPA	Disagreement Termination Transaction Amount	Termination transaction amount does not match.
REPO	Disagreement Repurchase Rate	Repurchase rate does not match.
REPP	Disagreement Premium Amount	Premium amount does not match.
RERT	Disagreement Repurchase Rate Type	Repurchase rate type does not match.
RTGS	Disagreement RTGS System	Counterparty is for Real Time Gross Settlement (RTGS) system, you are for non-RTGS or vice versa.
SAFE	Disagreement Safekeeping Account	Safekeeping account used as matching criteria on the market concerned does not match. This includes Buyer/seller's account, direct client's account at the receiving/delivering agent, or receiving/delivering agent's account at the CSD.
SETR	Disagreement Settlement Transaction	Settlement transaction type does not match (relates to the settlement transaction type codes available for field :22F::SETR).
SETS	Disagreement Settlement System/Method	Settlement system/method does not match (for example, instruction is to settle using settlement system/method A. Counterparty expects settlement to occur using settlement system/method B).
TERM	Disagreement Closing Date/Time	Closing date/time does not match.
TXST	Disagreement Tax Status	Disagreement on the tax status of the financial instruments to be settled.
UNBR	Unmatched Market Side Details	Market side trade is unmatched.
VASU	Disagreement Variable Rate Support	Variable rate support does not match (repo).

CODES

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

ADEA	Account Servicer Deadline Missed	Received after the account servicer's deadline. Processed on best effort basis.
AUTH	Sent to Tax Authorities	Tax reclaim has been sent to the tax authorities.
AWMO	Awaiting Money	Financial instruments are delivered, but still awaiting money from the counterparty.
AWSH	Awaiting Securities from Counterparty	Financial instruments have not yet been received from the counterparty (if receive against payment trade), the money has been delivered.
BATC	Processing Batch Difference	Processing batch differs in the counterparty's instruction, for example, daytime/real-time versus overnight.
BENO	Beneficial Ownership Disagreement	Disagreement in beneficial ownership.
BLOC	Account Blocked	Your account is blocked, no instruction can settle over the account.
BOTH	Both Instructions on Hold	Counterparty's instruction and your instruction are on hold/frozen/in a preadvice mode.
CAIS	Awaiting Securities	Awaiting financial instruments from a corporate action issue or other procedure, for example, conversion, dematerialisation, exchange, registration, stamping, splitting.
CDLR	Conditional Delivery Awaiting Release	Instruction is in a hold/frozen/preadvice mode - infrastructure platform is awaiting release.
CERT	Wrong Certificate Numbers	Certificate number error.
CHAS	Enquiry Sent	A chaser/enquiry has been sent.
CLAC	Counterparty Insufficient Securities	Insufficient deliverable financial instruments in counterparty's account or counterparty does not hold financial instruments.
CLHT	Clearing House Trade	Instructed settlement date does not agree with the settlement date on the Clearing House trade, that is, a specific type of trade in India.
CMON	Counterparty Insufficient Money	Insufficient money in counterparty's account.
COLL	Securities Pledged as Collateral	Financial instruments are not deliverable as they are pledged as collateral.
CONF	Confirmation Of Payment	Prior payment credited to account based contractual income collection agreement has been collected from issuer.
CPEC	Counterparty In Receivership	Counterparty is in receivership (form of bankruptcy where a court appointed person, the receiver, manages the affairs of the business).
CSDH	CSD Hold	Central securities depository has set the instruction in a hold/frozen/preadvice mode.
CVAL	CSD Validation	Instruction is in a hold/frozen/preadvice mode as it fulfils predefined conditions of a restriction processing type in the market infrastructure platform.
DENO	Unavailable Deliverable Denominated Quantity	Quantity instructed does not match the denomination available/deliverable. Physical financial instruments need to be obtained in deliverable denominated quantities.
DEPO	Refused Deposit for Issue of Depositary Receipts	Deposit of shares for the issuing of depositary receipts has been refused. The allotment granted by the issuer is exceeded by your transaction.
DISA	Natural Disaster	Exceptional closing of all financial institutions due to natural disaster, for example, earthquake.
DKNY	Counterparty Returned Shares	Counterparty has returned or refused the financial instruments.
DOCC	Awaiting Documents/Registration Instruction/Endorsements from Counterparty	Awaiting documents, registration instruction or endorsements from counterparty.
DOCY	Awaiting Documents/Registration Instruction/Endorsements from You	Awaiting documents, registration instruction or endorsements from you.
DQUA	Disagreement on Quantity	Unrecognised or invalid instructed quantity.
FLIM	Maximum Foreign Limit Reached	Insufficient deliverable financial instruments in your account as maximum foreign limit has been reached.
FROZ	Securities Frozen At CSD	Financial instruments are blocked at the CSD following a corporate event.
FUTU	Awaiting Settlement Date	Awaiting settlement date. No settlement problems to be reported.
GLOB	Global Form Securities	Settlement cannot be executed; financial instruments are in global form.
IAAD	Status Reason Investigation	Pending reason being investigated.
INBC	Incomplete Number Count	Not all the instructions part of a pool have been received.
INCA	Income Adjustment Required	Financial instruments require income adjustment, for example, dividend or interest.
IPNC	Cancel Not Possible	Instruction has been processed and cannot be cancelled.
LAAW	Awaiting Other Transaction	Awaiting settlement of a purchase to cover failing positions.
LACK	Lack of Securities	Insufficient financial instruments in your account.
LALO	Securities are Loaned Out	Financial instruments are out on loan.
LATE	Market Deadline Missed	Instruction was received after market deadline.
LINK	Pending Linked Instruction	Your instruction is pending settlement because the instruction linked to it is pending.
LIQU	Insufficient Central Bank Liquidity	Central Bank Liquidity is insufficient.
MCER	Missing Certification	Awaiting receipt of adequate certification.
MINO	Minimum Settlement Quantity	Quantity instructed is lower than the minimum existing settlement quantity for the financial instrument.
MONY	Insufficient Money	Insufficient money in your account and/or credit line is insufficient.
MUNO	Multiple Settlement Quantity	Quantity instructed is not a multiple of an existing settlement quantity lot for the financial instrument.
NARR	Narrative	See narrative field for reason.
NCON	Confirmation Not Received	Confirmation of settlement has not yet been received.
NEWI	New Issues	Financial instrument is a new issue and not yet available/tradable.
NMAS	No Matching Required	Instruction has not been matched; matching process is not required.
NOFX	No Foreign Exchange Instruction	A foreign exchange instruction from you is missing.
NPAY	No Payment	Payment has not been made by issuer.
NSEC	Not Delivered	Financial instruments have not been delivered by the issuer.
PART	Trade Settles in Partials	Trade will settle in partials.
PENR	Pending Receipt	The instruction is pending receipt of securities, for example, from a purchase, loan etc.
PHCK	Physical Securities in Verification Process	Physical financial instruments have been received and are being checked for authenticity.
PHSE	Physical Delivery Delay	Settlement is physical. Financial instruments are being delivered.
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.
REFS	Not In Good Order	Delivery/receipt was refused because physical financial instruments are not in good order.
REFU	Instruction Refused/Not Recognised	Instruction has been refused or not recognised and is represented automatically.
REGT	Certificates Rejected	Certificates have been lodged with the registrar but rejected due to incomplete documentation or foreign ownership limitation reached.
SBLO	Securities Blocked	Financial instruments are blocked due to a corporate action event, realignment, etc.
SDUT	Lack of Stamp Duty Information	Stamp duty information is missing.
SETS	Settlement System/Method Modified	Settlement system/method has been modified at CSD to allow settlement.
TAMM	Trade Amended in Market	Trade is being amended in the market.
VLDA	Valid for Tax Authorities	For tax reclaim, the event is pending, the tax reclaim is valid for the tax authorities.
YCOL	Collateral Shortage	Insufficient collateral in your account to execute the instruction.

CODES

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

ADEA	Account Servicer Deadline Missed	Received after the account servicer's deadline. Processed on best effort basis.
AWMO	Awaiting Money	Financial instruments are delivered, but still awaiting money from the counterparty.
AWSH	Awaiting Securities from Counterparty	Financial instruments have not yet been received from the counterparty (if receive against payment), the money has been delivered.
BATC	Processing Batch Difference	Processing batch differs in the counterparty's instruction, for example, daytime/real-time versus overnight.
BENO	Beneficial Ownership Disagreement	Disagreement in beneficial ownership.
BLOC	Account Blocked	Your account is blocked, no instruction can settle over the account.
BOTH	Both Instructions on Hold	Counterparty's instruction and your instruction are on hold/frozen/in a preadvice mode.
BYIY	Buy-in Procedure	A 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 financial instruments from a corporate action issue or other procedure, for example, conversion, dematerialisation, exchange, registration, stamping, splitting.
CANR	Cancellation/Confirmation Request	A cancellation or confirmation of instruction is required.
CDLR	Conditional Delivery Awaiting Release	Instruction is in a hold/frozen/preadvice mode - infrastructure platform is awaiting release.
CERT	Wrong Certificate Numbers	Certificate number error.
CHAS	Enquiry Sent	A chaser/enquiry has been sent.
CLAC	Counterparty Insufficient Securities	Insufficient deliverable financial instruments in counterparty's account or counterparty does not hold financial instruments.
CLAT	Counterparty too Late for Settlement	Counterparty's instruction was too late for settlement (that is received too late, matching or settlement problems solved too late).
CLHT	Clearing House Trade	Instructed Settlement date does not agree with the settlement date on the Clearing House trade that is a specific type of trade in India.
CMON	Counterparty Insufficient Money	Insufficient money in counterparty's account.
COLL	Securities Pledged as Collateral	Financial instruments are not deliverable as they are pledged as collateral.
CPEC	Counterparty In Receivership	Counterparty is in receivership (form of bankruptcy where a court appointed person, the receiver, manages the affairs of the business).
CSDH	CSD Hold	Central securities depository has set the instruction in a hold/frozen/preadvice mode.
CVAL	CSD Validation	Instruction is in a hold/frozen/preadvice mode as it fulfils predefined conditions of a restriction processing type in the market infrastructure platform.
CYCL	Awaiting Next Settlement Cycle	Instruction is confirmed in the local market or is ready for settlement, awaiting next settlement cycle.
DENO	Unavailable Deliverable Denominated Quantity	Quantity instructed does not match the denomination available/deliverable. Physical financial instruments need to be obtained in deliverable denominated quantities.
DEPO	Refused Deposit for Issue of Depositary Receipts	Deposit of shares for the issuing of depositary receipts has been refused. The allotment granted by the issuer is exceeded by your transaction.
DISA	Natural Disaster	Exceptional closing of all financial institutions due to natural disaster, for example, typhoon, flooding, earthquake, hurricane.
DKNY	Counterparty Returned Shares	Counterparty has returned or refused the financial instruments.
DOCC	Awaiting Documents/Registration Instruction/Endorsements from Counterparty	Awaiting documents, registration instruction or endorsements from counterparty.
DOCY	Awaiting Documents/Registration Instruction/Endorsements from You	Awaiting documents, registration instruction or endorsements from you.
FLIM	Maximum Foreign Limit Reached	Insufficient deliverable financial instruments in your account as maximum foreign limit has been reached.
FROZ	Securities Frozen At CSD	Financial instruments are blocked at the CSD following a corporate event.
GLOB	Global Form Securities	Settlement cannot be executed; financial instruments are in global form.
IAAD	Status Reason Investigation	Failing reason being investigated.
INBC	Incomplete Number Count	Not all the instructions part of a pool have been received.
INCA	Income Adjustment Required	Financial instruments require income adjustment, for example, dividend or interest.
LAAW	Awaiting Other Transaction	Awaiting settlement of a purchase to cover failing positions.
LACK	Lack of Securities	Insufficient deliverable financial instruments in your account.
LALO	Securities are Loaned Out	Financial instruments are out on loan.
LATE	Market Deadline Missed	Your instruction is too late for settlement, for example, received too late, matching or settlement problems solved too late.
LINK	Pending Linked Instruction	A linked instruction is pending/failing.
LIQU	Insufficient Central Bank Liquidity	Central Bank Liquidity is insufficient.
MINO	Minimum Settlement Quantity	Quantity instructed is lower than the minimum existing settlement quantity for the financial instrument.
MLAT	Money/Securities too Late for Settlement	Covering money/financial instruments were received too late for completing settlement on a same day basis.
MONY	Insufficient Money	Insufficient money in your account and/or credit line is insufficient.
MUNO	Multiple Settlement Quantity	Quantity instructed is not a multiple of an existing settlement quantity lot for the financial instrument.
NARR	Narrative	See narrative field for reason.
NCON	Confirmation Not Received	Confirmation of settlement has not yet been received.
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.
OBJT	Under Objection	Financial instruments are stolen, in dispute, under objection etc.
PART	Trade Settles in Partials	Trade will settle in partials.
PHCK	Physical Securities in Verification Process	Physical financial instruments have been received and are being checked for authenticity.
PHSE	Physical Delivery Delay	Settlement is physical. Financial instruments are being delivered.
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.
REFS	Not In Good Order	Delivery/receipt was refused because physical financial instruments are not in good order.
REGT	Certificates Rejected	Certificates have been lodged with the registrar but rejected due to incomplete documentation or foreign ownership limitation reached.
SBLO	Securities Blocked	Financial instruments are blocked due to a corporate action event, realignment, etc.
SDUT	Lack of Stamp Duty Information	Stamp duty information is missing.
SETS	Settlement System/Method Modified	Settlement system/method has been modified at CSD to allow settlement.
STCD	Confirmation Discrepancy	Discrepancy in the settlement confirmation.
YCOL	Collateral Shortage	Insufficient collateral in your account to execute the instruction.

CODES

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

ADEA	Account Servicer Deadline Missed	Received after the account servicer's deadline. Processed on best effort basis.
BATC	Processing Batch Rejection	Unrecognised or invalid processing batch, that is, daytime/real-time while only possible to settle in overnight batch.
BPAR	Business Partner Number Rejection	Unrecognised or invalid Business Partner Number.
BREF	Bank Reference Number Rejection	Unrecognised or invalid Bank Reference Number.
BUSE	Type of Order Rejection	Unrecognised or invalid type of order.
CADE	Transaction Call Delay Rejection	Unrecognised or invalid transaction call delay.
CAEV	Corporate Action Rejection	Corporate action pending on the financial instrument instructed.
CANC	Cancelled	Option is not valid; it has been cancelled by the market or service provider, and cannot be responded to. Any responses already processed against this option are considered void and new responses will be required.
CASH	Cash Account Rejection	Unrecognised or invalid cash account.
CASY	Impossible Cash Settlement System	Impossible standing arrangements override instruction for the cash settlement system.
COMC	Commercialisation Contract Rejection	Unrecognised or invalid commercialisation contract.
CONL	Concentration Limit Exceeded	Concentration limit was exceeded.
CPTY	Unknown Deal/Exposure	Deal or exposure is unknown.
DADR	Address Details Rejection	Address details are incorrect or cannot be recognised.
DCAN	Rejected Since Already Cancelled	Cancellation request was rejected since the instruction has already been cancelled.
DDAT	Settlement Date Rejection	Unrecognised or invalid settlement date.
DDEA	Deal Price Rejection	Unrecognised or invalid deal price.
DEPT	Place of Settlement Rejection	Unrecognised or invalid Place of Settlement.
DISC	Disagree with Call Amount	Party A does not agree with the call amount.
DISE	Disagree with Exposure Amount	Party A does not agree with the exposure amount.
DMON	Settlement Amount Rejection	Unrecognised or invalid settlement amount.
DORD	Registration Request Data and Order Rejection	Disagreement between the data on the registration request and the order.
DPRG	Rejected Since In Progress	Cancellation request has been rejected because the instruction process is in progress or has been processed.
DQUA	Quantity Rejection	Unrecognised or invalid settlement quantity.
DSEC	Security Rejection	Unrecognised or invalid financial instrument identification.
DTRD	Trade Date Rejection	Unrecognised or invalid trade date.
EVNM	Unrecognised Corporate Action Event Number	Unrecognised corporate action event number.
FEEE	Fee/Commission Rejection	Unrecognised or invalid fee or commission.
ICAG	Agent Rejection	Unrecognised or invalid receiving or delivering agent.
ICOL	Insufficient Collateral	Insufficient collateral proposed.
ICUS	Receiving or Delivering Custodian Rejection	Unrecognised or invalid receiving or delivering custodian.
IEXE	Buyer or Seller Rejection	Unrecognised or invalid buyer or seller.
IIND	Common Reference Rejection	Unrecognised, invalid or missing Common Reference.
INPS	Place of Safekeeping Rejection	Unrecognised, invalid or missing Place of Safekeeping.
INIR	Instruction Irrevocable	The instruction is irrevocable.
INNA	Narrative Information Rejection	Unrecognised or invalid SLA agreed narrative information.
INTV	Inactive	Option is not active and can no longer be responded to. Any responses already processed against this option will remain valid, for example, expired option.
INVA	Invalid for Tax Authorities	For tax reclaim, the reclaim is invalid for the tax authorities.
INVB	Balance Rejection	Unrecognised, invalid or missing balance.
INVE	Investor Party Rejection	Unrecognised or invalid investor party. May be used by an executing party to reject an instruction for an investor (or portfolio) for which it is not authorised to act.
INVL	Link Rejection	Unrecognised, invalid or missing link.
INVN	Number Rejection	Unrecognised, invalid or missing lot/sub-balance number.
LACK	Lack of Securities	Instructed position exceeds the eligible balance.
LATE	Market Deadline Missed	Instruction was received after market deadline.
MINO	Minimum Settlement Quantity	Quantity instructed is lower than the minimum existing settlement quantity for the financial instrument.
MLEG	Missing Legal Power	Missing legal power for transfer.
MUNO	Multiple Settlement Quantity	Quantity instructed is not a multiple of an existing settlement quantity lot for the financial instrument.
NARR	Narrative Reason	See narrative field for reason.
NCRR	Settlement Amount Currency Rejection	Unrecognised or invalid settlement amount currency.
NMTY	Mismatch Option Number and Option Type	Mismatch between option number and option type.
NRGM	No Match	Cancellation request has been rejected since more than one instruction match to the cancellation criteria.
NRGN	Not Found	Cancellation request has been rejected since the instruction could not be found.
OPNM	Unrecognised Option Number	Unrecognised option number.
OPTY	Invalid Option Type	Invalid option type.
OWNT	Type of Ownership Rejection	Type of ownership indicated is not correct.
PHYS	Physical Settlement Impossible	Physical settlement is impossible for the instructed financial instrument.
PLCE	Place of Trade Rejection	Unrecognised or invalid place of trade.
PLIS	Place of Listing Rejection	Unrecognised or invalid place of listing. Used when the security identified is not listed on the market supplied.
REFE	Reference Rejection	Instruction has a reference identical to another previously received instruction.
REFT	Refused by the Tax Authorities	Reclaim is refused by the tax authorities.
REPA	Termination Transaction Amount Rejection	Unrecognised or invalid termination transaction amount.
REPO	Repurchase Rate Rejection	Unrecognised or invalid repurchase rate.
REPP	Premium Amount Rejection	Unrecognised or invalid premium amount.
REQM	Missing Registration Request	Registration request to be completed by the buyer and to be forwarded to the issuer is missing.
REQW	Wrong Registration Request	Registration request to be completed by the buyer and to be forwarded to the issuer is wrong. You have used the registration request of a different issuer/registrar.
RREA	Disagreement in registration reason	Registration reason indicated is not correct.
RTGS	Impossible to use the RTGS system instructed	It is not possible to use the RTGS system instructed (NRTG or YRTG).
SAFE	Safekeeping Account Rejection	Unrecognised or invalid message sender's safekeeping account.
SDUT	Lack of Stamp Duty Information	Required stamp duty information is missing.
SETR	Settlement Transaction Rejection	Unrecognised or invalid settlement transaction type (relates to the settlement transaction type codes available for sequence E field 22F, qualifier SETR).
SETS	Settlement System/Method Rejection	Unrecognised or invalid settlement system/method instructed.
SHAR	Shareholder Number Rejection	Unrecognised or invalid Shareholder Number.
SIGN	Invalid Signature	Registration request does not have a valid signature of the owner of the financial instrument.
STAM	Not Stamped or Signed	Financial instrument has not been stamped and/or duly signed.
STAT	Missing Statutes	Missing statutes or commercial register or other legal documents.
TERM	Closing Date/Time Rejection	Unrecognised or invalid closing date/time.
TXST	Tax Status Rejection	Unrecognised or invalid tax status of the securities instructed.
ULNK	Unknown	Linked reference is unknown.
VALR	Rule Rejection	Account servicer validation rule rejection.

CODES

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

ADEA	Account Servicer Deadline Missed	Received after the account servicer's deadline.
DCAL	Call Denied Since Already Applied	Repo call request was denied since another call already applies.
DCAN	Denied Since Cancelled	Request was denied since the instruction has been cancelled.
DFOR	Denied Since not Allowed	Repo call request was denied. Call not allowed on the concerned repo, for example, out of delay.
DPRG	Denied Since in Progress	Request was denied because the process of settlement is in progress.
DREP	Denied Since Repo Ended	Request was denied because the repo was cancelled.
DSET	Denied Since Settled	Request was denied because the instruction was settled.
IPNC	Instruction Processed	Instruction has been processed and cannot be cancelled.
LATE	Market Deadline Missed	Received after market deadline.
NARR	Narrative Reason	See narrative field for reason.

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.
CANO	Cancelled by Another Party	Instruction has been cancelled by another party than the instructing party, for example market infrastructure such as a Stock Exchange.
CANS	Cancelled By System	Instruction has been cancelled by the settlement system.
CANT	Cancelled due to Transformation	Original instruction has been cancelled and replaced due to a Corporate Action.
CANZ	Cancelled due to Split/Partial Settlement	Original instruction has been cancelled and replaced to allow a partial or split settlement.
CORP	Cancelled Due to Corporate Action	Instruction has been cancelled due to a corporate action.
CREG	Cancelled by Issuer/Registrar	Instruction has been cancelled by the issuer/registrar.
CSUB	Cancelled By Agent	Instruction has been cancelled by the agent.
CTHP	Cancelled By Third Party	Instruction has been cancelled by a third party.
EXPI	Expired	Instruction has expired.
NARR	Narrative Reason	See narrative field for reason.
SCEX	Securities No Longer Eligible	Instruction has been cancelled; the security no longer exists or is no longer eligible on the market instructed. For corporate action-related cancellation, CORP should be used.

CODES

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

ADEA	Account Servicer Deadline Missed	Received after the account servicer's deadline. Processed on best effort basis.
CDAC	Conditional Delivery Cancellation Pending	Conditional Delivery is still pending awaiting the cancellation from at least another party.
CONF	Awaiting Confirmation	Awaiting confirmation of cancellation from the counterparty.
DQUA	Disagreement on Quantity	Unrecognised or invalid instructed quantity.
INBC	Incomplete Number Count	Not all the instructions part of a pool have been received.
NARR	Narrative Reason	See narrative field for reason.

CODES

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

CONF	Awaiting Confirmation	Awaiting confirmation of modification from the counterparty or the market.
NARR	Narrative Reason	See narrative field for reason.

CODES

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

NAFF

Not Affirmed

Counterparty has not affirmed.

CODES

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

ADEA	Account Servicer Deadline Missed	Received after the account servicer's deadline. Processed on best effort basis.
LATE	Market Deadline Missed	Instruction was received after market deadline.
NARR	Narrative Reason	See narrative field for reason.
NSTP	Not STP	Instruction was not STP and had to be processed manually.
RQWV	Accepted Without Voting Rights	Instruction registration is accepted but the registration is not in full, that is, not with voting rights.
SMPG	Market Practice Rule Discrepancy	Instruction is accepted but does not comply with the market practice rule published for the concerned market or process.

CODES

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

ADEA	Account Servicer Deadline Missed	Received after the account servicer's deadline. Processed on best effort basis.
CALD	In Process	Repo call is in process.
CALP	Processed	Repo call is processed.

CODES

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

ADEA	Account Servicer Deadline Missed	Received after the account servicer's deadline. Processed on best effort basis.
BATC	Processing Batch Repair	Unrecognised or invalid processing batch, that is, daytime/real-time while only possible to settle in overnight batch.
BUSE	Type of Order Repair	Unrecognised or invalid type of order.
CADE	Transaction Call Delay Repair	Unrecognised or invalid transaction call delay.
CAEV	Corporate Action Repair	Corporate action pending on the financial instrument instructed.
CASH	Cash Account Repair	Unrecognised or invalid cash account.
CASY	Cash Settlement System Repair	Impossible standing arrangements override instruction for the cash settlement system.
COMC	Commercialisation Contract Repair	Unrecognised or invalid commercialisation contract.
DDAT	Settlement Date Repair	Unrecognised or invalid settlement date (that is date is not a settlement date for the instructed market, settlement date is too old ...).
DDEA	Deal Price Repair	Unrecognised or invalid deal price.
DEPT	Place of Settlement Repair	Unrecognised or invalid Place of Settlement.
DMON	Settlement Amount Repair	Unrecognised or invalid settlement amount.
DQUA	Quantity Repair	Unrecognised or invalid settlement quantity.
DSEC	Security Repair	Unrecognised or invalid financial instrument identification (that is invalid ISIN, security not eligible at the instructed market ...).
DTRD	Trade Date Repair	Unrecognised or invalid trade date.
FEEE	Fee/Commission Repair	Unrecognised or invalid fee or commission.
ICAG	Agent Repair	Unrecognised or invalid receiving or delivering agent.
ICUS	Receiving or Delivering Custodian Repair	Unrecognised or invalid receiving or delivering custodian.
IEXE	Buyer or Seller Repair	Unrecognised or invalid buyer or seller.
IIND	Common Reference Repair	Unrecognised, invalid or missing Common Reference.
INPS	Place of Safekeeping Repair	Unrecognised, invalid or missing Place of Safekeeping.
INNA	Narrative Information Repair	Unrecognised or invalid SLA agreed narrative information.
MINO	Minimum Settlement Quantity Repair	Quantity instructed is lower than the minimum existing settlement quantity for the financial instrument.
MUNO	Multiple Settlement Quantity Repair	Quantity instructed is not a multiple of an existing settlement quantity lot for the financial instrument.
NARR	Narrative Reason	See narrative field for reason.
NCRR	Settlement Amount Currency Repair	Unrecognised or invalid settlement amount currency.
NRGM	No Match	Cancellation request is in repair since more than one instruction match to the cancellation criteria.
NRGN	Not Found	Cancellation request is in repair since the instruction could not be found.
PHYS	Physical Settlement Impossible	Physical settlement is impossible for the instructed financial instrument.
PLCE	Place of Trade Repair	Unrecognised or invalid place of trade.
REFE	Reference Repair	Instruction has a reference identical to another previously received instruction.
REPA	Termination Transaction Amount Repair	Unrecognised or invalid termination transaction amount.
REPO	Repurchase Rate Repair	Unrecognised or invalid repurchase rate.
REPP	Premium Amount Repair	Unrecognised or invalid premium amount.
RTGS	RTGS System Repair	Impossible to use the RTGS system instructed (NRTG or YRTG).
SAFE	Safekeeping Account Repair	Unrecognised or invalid message sender's safekeeping account.
SDUT	Lack of Stamp Duty Information	Required stamp duty information is missing.
SETR	Settlement Transaction Repair	Unrecognised or invalid settlement transaction type (relates to the settlement transaction type codes available for sequence E field 22F, qualifier SETR).
SETS	Settlement System/Method Repair	Unrecognised or invalid settlement system/method instructed.
TERM	Closing Date/Time Repair	Unrecognised or invalid closing date/time.
TXST	Tax Status Repair	Unrecognised or invalid tax status of the securities instructed.
ULNK	Unknown	The message was not recognised - unknown linked reference.

CODES

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

ADEA	Account Servicer Deadline Missed	Instruction was received after the account servicer's deadline. Processed on best effort basis.
BLOC	Account Blocked	Your account is blocked, no instruction can settle over the account.
CAIS	Awaiting Securities	Awaiting securities from a corporate action issue or other procedure, for example, conversion, dematerialisation, exchange, registration, stamping, splitting.
CERT	Wrong Certificate Numbers	Certificate number error.
COLL	Securities Pledged as Collateral	Securities are not deliverable as they are pledged as collateral.
CSDH	CSD Hold	Central securities depository has set the instruction in a hold/frozen/preadvice mode.
DENO	Unavailable Deliverable Denominated Quantity	Quantity instructed does not match the denomination available/deliverable. Physical securities need to be obtained in deliverable denominated quantities.
DOCY	Awaiting Documents/Registration Instruction/Endorsements from You	Awaiting documents, registration instruction or endorsements from you.
FLIM	Maximum Foreign Limit Reached	Insufficient deliverable financial instruments in your account as maximum foreign limit has been reached.
GLOB	Global Form Securities	Settlement cannot be executed; financial instruments are in global form.
LACK	Lack of Securities	Insufficient financial instruments in your account.
LALO	Securities are Loaned Out	Financial instruments are out on loan.
LIQU	Insufficient Central Bank Liquidity	Central Bank Liquidity is insufficient.
MINO	Minimum Settlement Quantity	Quantity instructed is lower than the minimum existing settlement quantity for the financial instrument.
MONY	Insufficient Money	Insufficient money in your account and/or credit line is insufficient.
MUNO	Multiple Settlement Quantity	Quantity instructed is not a multiple of an existing settlement quantity lot for the financial instrument.
NARR	Narrative Reason	See narrative field for reason.
NEXT	Next Process	Next Process is launched. No processing pending problems to be reported.
NOFX	No Foreign Exchange Instruction	A foreign exchange instruction from you is missing.
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.
YCOL	Collateral Shortage	Insufficient collateral in your account to execute the instruction.

CODES

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

CLAI	Market Claim	Transaction has been generated due to a market claim following a corporate action.
COLL	Collateral Management	Transaction has been generated for collateral management purposes.
NARR	Narrative Reason	See narrative field for reason.
RODE	Return of Refused Dump	Transaction has been generated to return a delivery previously instructed.
SPLI	Split/Shaping	Transaction has been generated to enable settlement following a shortage of position.
THRD	Third Party	Transaction has been generated by a third party, for example, a central counterparty.
TRAN	Transformation	Transaction has been generated due to transformation following a corporate action.

USAGE RULES

The reason requested in the MT 549 must reason codes available for the message type requested. Ex: STAT reason code (Missing statutes or commercial register or other legal documents) must not be used if the MT 549 is a request for an MT 548.

A pending transaction (PEND) becomes a failing transaction (PENF) at the settlement date instructed in the message, on the end of day reporting.