What does NMAT DDAT mean?

The counterparty has instructed, but with a different settlement date. One side must cancel and re-instruct with the agreed date.

Why was my instruction rejected with DDAT?

The servicer could not accept the settlement date, typically because it is a market holiday, in the past or otherwise invalid for that market.

Settlement status codes

DDAT: Disagreement Settlement Date

Written and maintained by ZagTrader. Last reviewed 21 October 2026. How this page is sourced and checked

DDAT points at the settlement date. Under NMAT the two sides disagree on it; under REJT or REPR the servicer cannot accept the date you gave.

Code: DDAT
Kind: Reason (24B)
Used with: NMAT, REJT, REPR

What DDAT means

Under :24B::NMAT//DDAT (official name Disagreement Settlement Date) your intended settlement date, or date and time, differs from the counterparty’s, so the instructions do not match.

Under :24B::REJT//DDAT (Settlement Date Rejection) the date is not acceptable: for example a market holiday, a date in the wrong format or a date outside what the market allows. Austraclear, for example, uses REJT//DDAT when the value date is not a settlement day.

Under :24B::REPR//DDAT (Settlement Date Repair) the servicer holds the instruction in repair because of the date.

When you see it

When one side applies a different settlement cycle (for example T+1 against T+2) or a different holiday calendar.
When an instruction is sent with a past date or a date on which the CSD is closed.

What to do next

Compare your :98a::SETT// in sequence B of the instruction with the trade confirmation and the market calendar.
For NMAT, agree the correct date with the counterparty; the wrong side cancels and re-instructs.
For REJT, send a new instruction with a valid date. For REPR, ask the servicer whether it will correct the date on your confirmation.

Where it appears in MT and ISO 20022

MT (ISO 15022)

MT548 sequence A2a, :24B::NMAT//DDAT, :24B::REJT//DDAT or :24B::REPR//DDAT
The field it refers to: :98a::SETT// in sequence B (TRADDET) of the MT540 to MT543
MT537 sequence B1 or C3a, :24B::NMAT//DDAT or :24B::REPR//DDAT

MX (ISO 20022)

sese.024 MtchgSts/Umtchd/Rsn/Cd/Cd = DDAT, PrcgSts/Rjctd/Rsn/Cd/Cd = DDAT or PrcgSts/Rpr/Rsn/Cd/Cd = DDAT (sese.024.001.12)
Echoed date: sese.024 TxDtls/SttlmDt

Questions

What does NMAT DDAT mean?: The counterparty has instructed, but with a different settlement date. One side must cancel and re-instruct with the agreed date.
Why was my instruction rejected with DDAT?: The servicer could not accept the settlement date, typically because it is a market holiday, in the past or otherwise invalid for that market.