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Settlement status codes

BOTH: Both Instructions on Hold

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BOTH tells you that your instruction and the counterparty’s matching instruction are both on hold, frozen or in preadvice mode. Settlement needs both releases.

Code
BOTH
Kind
Reason (24B)
Used with
PEND, PENF

What BOTH means

BOTH combines PREA (your instruction on hold) and PRCY (the counterparty’s instruction on hold) in one code. Releasing only your side changes the reason to PRCY; the trade still waits for the counterparty.

Under PEND settlement on the intended date is still possible if both release in time; under PENF the trade is failing.

When you see it

  • When both parties instruct on hold, for example both waiting for client confirmation, or both accounts hold instructions by default.

What to do next

  • Release your instruction when it is ready and ask the counterparty to release its own.

Where it appears in MT and ISO 20022

MT (ISO 15022)

  • MT548 sequence A2a (REAS), :24B::PEND//BOTH or :24B::PENF//BOTH.
  • MT537 sequence B1 or C3a with the PEND or PENF qualifier.

MX (ISO 20022)

  • sese.024 SttlmSts/Pdg/Rsn/Cd/Cd = BOTH or SttlmSts/Flng/Rsn/Cd/Cd = BOTH.