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Settlement status codes

MUNO: Multiple Settlement Quantity

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MUNO tells you that the instructed quantity is not a whole multiple of the lot or increment in which the security settles, for example a bond that trades in multiples of 1,000.

Code
MUNO
Kind
Reason (24B)
Used with
PEND, PENF, PPRC, REJT, REPR

What MUNO means

Above the minimum denomination (MINO), many bonds can only be transferred in fixed increments, and some markets settle equities in board lots. A quantity that does not fit the increment cannot settle.

Under REJT the instruction is refused; under REPR it is in repair; under PPRC processing is pending; under PEND or PENF the instruction is in settlement but cannot settle as instructed.

When you see it

  • On bond instructions with an odd quantity, and after corporate actions or partial settlements that leave a remainder outside the increment.

What to do next

  • Check the security’s increment in your security master data and agree a corrected quantity with the counterparty, then amend or reinstruct.

Where it appears in MT and ISO 20022

MT (ISO 15022)

  • MT548 sequence A2a (REAS), :24B::REJT//MUNO, :24B::REPR//MUNO, :24B::PPRC//MUNO, :24B::PEND//MUNO or :24B::PENF//MUNO.
  • MT537 sequence B1 or C3a with the PEND, PENF, PPRC or REPR qualifier.

MX (ISO 20022)

  • sese.024 SttlmSts/Pdg/Rsn/Cd/Cd or SttlmSts/Flng/Rsn/Cd/Cd = MUNO.
  • sese.024 PrcgSts/Rjctd/Rsn/Cd/Cd, PrcgSts/Rpr/Rsn/Cd/Cd or PrcgSts/PdgPrcg/Rsn/Cd/Cd = MUNO.