| ISO20022

MT586: (23) Field 24B: Reason Code

FORMAT

Option B

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

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

PRESENCE

Mandatory in optional subsequence B2

QUALIFIER

(Error code(s): T89)

Order	M/O	Qualifier	R/N	Options	Qualifier Description
1	M	CAND	N	B	Cancellation Reason
	or	REJT	N	B	Rejection Reason
	or	REMO	N	B	Remove Reason

DEFINITION

This qualified generic field specifies:

CAND	Cancellation Reason	Specifies the reason why the instruction is cancelled.
REJT	Rejection Reason	Specifies the reason why the instruction/request has a rejected status.
REMO	Remove Reason	Specifies the reason why the instruction is cancelled.

CODES

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

NARR

Narrative Reason

See narrative field for reason.

CODES

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

BENO	Beneficial Ownership Disagreement	Disagreement in beneficial ownership.
CAEV	Corporate Action Rejection	Corporate action pending on the financial instrument instructed.
DQUA	Quantity Rejection	Unrecognised or invalid instructed quantity.
DSEC	Disagreement Financial Instrument	Financial instrument identification does not match, that is, ISIN differs, or Financial Instrument Attributes differs.
NARR	Narrative Reason	See narrative field for reason.
PODU	Possible Duplicate	Possible duplicate instruction.
SAFE	Safekeeping Account Rejection	Unrecognised or invalid safekeeping account.
SSID	Standing Settlement Instruction Rejection	Standing Settlement Instruction is unknown or invalid.

USAGE RULES

Usage of a settlement status/reason alone means that the transaction is matched (if a matching process exists in the concerned market or at the concerned account servicer).

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