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Settlement status codes

IEXE: Incorrect Buyer or Seller

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IEXE points at the buyer (receiver) or seller (deliverer) in the settlement chain. Under NMAT it differs; under REJT or REPR it is not valid.

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

What IEXE means

Under :24B::NMAT//IEXE the buyer or seller you named does not agree with the counterparty’s instruction, where the market matches on these parties.

Under :24B::REJT//IEXE or :24B::REPR//IEXE the buyer or seller is unrecognised or invalid.

When you see it

  • When the end client is identified differently on the two sides, for example a fund name on one side and the fund manager on the other.

What to do next

  • Compare :95a::BUYR// and :95a::SELL// in sequence E1 with the counterparty’s details and the market’s rules for these fields, then re-instruct the wrong side.

Where it appears in MT and ISO 20022

MT (ISO 15022)

  • MT548 sequence A2a, :24B::NMAT//IEXE, :24B::REJT//IEXE or :24B::REPR//IEXE
  • The fields it refers to: :95a::BUYR// and :95a::SELL// in sequence E1 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 = IEXE (sese.024.001.12)