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Settlement status codes

NMAS: No Matching Started

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NMAS is about matching not having happened. Under NMAT it means matching has not started yet; under PEND it means the instruction does not need matching at all.

Code
NMAS
Kind
Reason (24B)
Used with
NMAT, PEND

What NMAS means

Under :24B::NMAT//NMAS (official name No Matching Started) the instruction is unmatched only because the matching process has not run yet, for example because the servicer has not passed it to the market.

Under :24B::PEND//NMAS (official name No Matching Required) the instruction is pending settlement and no matching is needed, for example for some internal transfers or markets where only one side instructs.

When you see it

  • Under NMAT: right after a new instruction, or when instructions are batched to the market at set times.
  • Under PEND: on movements that settle on one instruction only.

What to do next

  • Under NMAT, wait for the next matching cycle; if it persists past the market’s matching window, ask the servicer why the instruction has not been sent on.
  • Under PEND, no matching action is needed; follow the settlement status.

Where it appears in MT and ISO 20022

MT (ISO 15022)

  • MT548 sequence A2a, :24B::NMAT//NMAS with :25D::MTCH//NMAT, or :24B::PEND//NMAS with :25D::SETT//PEND

MX (ISO 20022)

  • sese.024 MtchgSts/Umtchd/Rsn/Cd/Cd = NMAS, or SttlmSts/Pdg/Rsn/Cd/Cd = NMAS (sese.024.001.12)