ZagTrader

Settlement status codes

CSDH: CSD Hold

Written and maintained by ZagTrader. Last reviewed . How this page is sourced and checked

CSDH tells you that the central securities depository has put the instruction on hold, frozen it or kept it in preadvice mode. Only the CSD, usually on request of its participant, can release it.

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

What CSDH means

A CSD can hold instructions of its participants, for example while a participant’s instruction waits for a check the CSD performs, or when a participant uses the CSD to hold instructions on behalf of its own clients.

In T2S, a CSD hold is reported with pending or failing reason CSDH and the hold indicator CSDH in TxDtls/SttlmParams/HldInd, and it can appear together with a party hold (PREA), a CSD validation hold (CVAL) or a conditional delivery hold (PRSY) in one status advice (ECB T2S multiple-status reporting).

Under PEND settlement on the intended date is still possible once released; under PENF the instruction is failing.

When you see it

  • In an MT548 or sese.024 on acceptance of the instruction or after a hold is added, often from the CSD through your custodian.

What to do next

  • Ask your custodian or the CSD why the instruction is held and what is needed to release it.

Where it appears in MT and ISO 20022

MT (ISO 15022)

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

MX (ISO 20022)

  • sese.024 SttlmSts/Pdg/Rsn/Cd/Cd or SttlmSts/Flng/Rsn/Cd/Cd = CSDH, in T2S with TxDtls/SttlmParams/HldInd/Rsn/Cd/Cd = CSDH.
  • sese.024 PrcgSts/PdgPrcg/Rsn/Cd/Cd = CSDH is also allowed (not in the MT548 PPRC list).