ZagTrader

Settlement status codes

DSEC: Disagreement Security

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

DSEC points at the financial instrument in field 35B. Under NMAT the two sides name different securities; under REJT or REPR the servicer does not recognise or cannot settle the one you gave.

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

What DSEC means

Under :24B::NMAT//DSEC the instrument identification differs, for example a different ISIN or different instrument attributes.

Under :24B::REJT//DSEC or :24B::REPR//DSEC the security is unknown to the servicer, not eligible at the place of settlement, or not yet set up (common for new issues).

When you see it

  • For securities with several lines (for example 144A and Reg S versions of a bond, or a temporary line after a corporate action).
  • For a new issue that the servicer has not yet loaded.

What to do next

  • Check the ISIN in :35B: against the trade confirmation and the place of settlement.
  • For REJT or REPR, ask the servicer whether the security is set up and eligible; resend once it is.

Where it appears in MT and ISO 20022

MT (ISO 15022)

  • MT548 sequence A2a, :24B::NMAT//DSEC, :24B::REJT//DSEC or :24B::REPR//DSEC
  • The field it refers to: :35B: in sequence B of the MT540 to MT543

MX (ISO 20022)

  • sese.024 MtchgSts/Umtchd/Rsn/Cd/Cd, PrcgSts/Rjctd/Rsn/Cd/Cd or PrcgSts/Rpr/Rsn/Cd/Cd = DSEC (sese.024.001.12); echoed security in TxDtls/FinInstrmId