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Settlement status codes

IIND: Disagreement Common Reference

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IIND points at the common reference shared by both counterparties. Under NMAT the references differ; under REJT or REPR it is missing or invalid.

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

What IIND means

Under :24B::NMAT//IIND both instructions carry a common reference but the values are different. In T2S the common trade reference is an optional matching field: it only has to agree when both sides fill it in.

Under :24B::REJT//IIND or :24B::REPR//IIND the reference is unrecognised, invalid or missing where the market requires it.

When you see it

  • When a trade reference from a trading platform is passed on by one side but altered (truncated, re-formatted) by the other.

What to do next

  • Compare :20C::COMM// in sequence A1 with the counterparty’s value.
  • If the market does not require it and the values cannot be aligned, one side can re-instruct without the reference.

Where it appears in MT and ISO 20022

MT (ISO 15022)

  • MT548 sequence A2a, :24B::NMAT//IIND, :24B::REJT//IIND or :24B::REPR//IIND
  • The field it refers to: :20C::COMM// in sequence A1 (LINK) 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 = IIND (sese.024.001.12); the common reference is TxId/CmonId