CPRC: Cancellation Request

What CPRC means

Read the field carefully: CPRC is both a qualifier and a status value. :25D::CPRC//... is the qualifier for the status of a cancellation request. :25D::IPRC//CPRC is the status value on this page: the counterparty wants the transaction cancelled.

In markets with bilateral cancellation a matched instruction is only cancelled when both sides cancel. The counterparty has done its part; your instruction is still live and can settle until you act.

When you see it

• In an MT548 for a matched instruction (MACH) after the counterparty finds an error in the trade or the trade is cancelled at the front office.
• Austraclear documents that it sends IPRC//CPRC when the counterparty has cancelled and the participant’s confirmation is awaited.

What to do next

• Check with the front office or the counterparty whether the trade really is cancelled or being amended.
• If you agree, send your cancellation (the same message type as your instruction, with :23G:CANC) and wait for CAND.
• If you do not agree, tell the counterparty. Your instruction stays and the counterparty’s side will show CANP.

Where it appears in MT and ISO 20022

Related codes

• CANPPending Cancellation
• CANDCancelled
• MPRCModification Request
• CPCACounterparty Cancelled Instruction
• MACHMatched