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Settlement status codes

PRSY: On Hold by System

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PRSY tells you that the settlement system itself has put the transaction on hold. Neither party asked for the hold; a rule in the system did.

Code
PRSY
Kind
Reason (24B)
Used with
PEND, PENF

What PRSY means

In T2S, PRSY is used for the conditional securities delivery (CoSD) hold: when an instruction meets a condition defined by the CSD, for example settlement that must wait for an external event, T2S holds it and reports PRSY, with the hold indicator CDEL in TxDtls/SttlmParams/HldInd (ECB T2S multiple-status reporting).

Other platforms use PRSY for their own system holds. Under PEND settlement on the intended date is still possible once the system releases the hold; under PENF it is failing.

When you see it

  • In an MT548 or sese.024 from a CSD or settlement platform, often alongside other holds such as CSDH or PREA.

What to do next

  • Ask your custodian or CSD which condition triggered the hold and what will release it; you usually cannot release a system hold yourself.

Where it appears in MT and ISO 20022

MT (ISO 15022)

  • MT548 sequence A2a (REAS), :24B::PEND//PRSY or :24B::PENF//PRSY.
  • MT537 sequence B1 or C3a, :24B::PEND//PRSY or :24B::PENF//PRSY.

MX (ISO 20022)

  • sese.024 SttlmSts/Pdg/Rsn/Cd/Cd = PRSY or SttlmSts/Flng/Rsn/Cd/Cd = PRSY; in T2S with TxDtls/SttlmParams/HldInd/Rsn/Cd/Cd = CDEL.
  • From sese.024.001.11, PRSY is also in the pending processing list (PrcgSts/PdgPrcg/Rsn/Cd/Cd).