ZagTrader

Settlement status codes

FLIM: Maximum Foreign Limit Reached

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

FLIM tells you that the securities cannot be delivered because the maximum foreign ownership limit for the security has been reached.

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

What FLIM means

Several markets cap how much of a company foreign investors may hold, overall or by sector. When the cap is reached, securities held by foreign investors can only move within limits set by the market, and a transfer that would breach the cap cannot settle.

Under PEND or PENF the instruction is in settlement but blocked by the limit; under PPRC the custodian holds it before processing.

When you see it

  • In markets with foreign ownership limits, on transfers between foreign and local holders, or between accounts with different investor categories.

What to do next

  • Ask the local custodian how the limit applies to this security and account, and whether the market offers a way for the trade to settle between foreign holders or it must be cancelled.

Where it appears in MT and ISO 20022

MT (ISO 15022)

  • MT548 sequence A2a (REAS), :24B::PEND//FLIM, :24B::PENF//FLIM or :24B::PPRC//FLIM.
  • 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 = FLIM.
  • sese.024 PrcgSts/PdgPrcg/Rsn/Cd/Cd = FLIM for pending processing.