ZagTrader

Settlement status codes

PACK: Acknowledged/Accepted

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

PACK means the account servicer has received your message, validated it and accepted it for further processing. It says nothing yet about matching or settlement.

Code
PACK
Kind
Status (25D)
Qualifiers
IPRC, CPRC, TPRC

What PACK means

PACK is usually the first status you get back after sending a settlement instruction (MT540 to MT543). Under :25D::IPRC//PACK the custodian or CSD confirms that the instruction passed its checks (format, account, security, dates) and is now in its books.

The same code is used under two other qualifiers. Under CPRC it means your cancellation request has been accepted for processing, which is not the same as the instruction being cancelled: that comes later as CAND. Under TPRC it means your request to change processing indicators (an MT530, for example a hold or release) has been accepted.

A PACK can carry a reason. ADEA tells you the message arrived after the servicer’s deadline and will be handled on a best effort basis, and SMPG tells you the instruction was accepted even though it does not follow the published market practice for that market.

When you see it

  • In an MT548 with function INST shortly after you send a new instruction, before any matching status arrives. Many servicers send it only on request or not at all when the next status (matched or unmatched) follows within minutes.
  • In an MT548 with function CAST in answer to a cancellation request, as :25D::CPRC//PACK.
  • In the MT537 statement of pending transactions, when the servicer reports instructions that are accepted but not yet matched.

What to do next

  • No action is needed for a plain PACK. Record any reference the servicer gives you (in MX the TxId/AcctSvcrTxId) so you can quote it in later queries.
  • If PACK carries ADEA, check with the servicer whether settlement on the intended date is still realistic and warn the front office or the client if not.
  • If PACK carries SMPG, compare your instruction with the market practice for that market (see SMPG market practice documents) and fix the template so future instructions comply.
  • Watch for the next status: MACH or NMAT for matching, then PEND or PENF for settlement. See the settlement lifecycle guide.

Where it appears in MT and ISO 20022

MT (ISO 15022)

  • MT548 sequence A2 (STAT), :25D::IPRC//PACK (instruction accepted)
  • MT548 sequence A2, :25D::CPRC//PACK in a message with :23G:CAST (cancellation request accepted)
  • MT548 sequence A2, :25D::TPRC//PACK (processing change request accepted)
  • MT548 sequence A2a (REAS), :24B::PACK//ADEA, :24B::PACK//SMPG or :24B::PACK//NARR with :70D::REAS// text
  • MT537 sequence B (STAT) or C3 (STAT), :25D::IPRC//PACK, with reasons in B1 or C3a

MX (ISO 20022)

  • sese.024 PrcgSts/AckdAccptd, either NoSpcfdRsn = NORE or Rsn/Cd/Cd = ADEA, SMPG and others (sese.024.001.12)
  • Cancellation request accepted: sese.027 (Securities Transaction Cancellation Request Status Advice) PrcgSts/AckdAccptd
  • Processing change accepted: sese.031 (Securities Settlement Condition Modification Status Advice) PrcgSts/AckdAccptd