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Settlement status codes

SBLO: Securities Blocked

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SBLO tells you that the securities needed for settlement are on the account but blocked, for example because of a corporate action event or a realignment.

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

What SBLO means

Securities are blocked when they are set aside for a purpose: an election on a voluntary corporate action, a proxy vote in markets that block shares, a realignment between CSDs, or a restriction set by the platform. Blocked securities do not count as deliverable.

Under PEND the block may end in time; under PENF the delivery is failing. A block on the whole account is BLOC; a freeze of the security at the CSD is FROZ.

When you see it

  • After an instruction on a corporate action (an MT565 election that blocks the position until the event ends), and in T2S from intraday restrictions on a security, sometimes together with BLOC (ECB T2S multiple-status reporting).

What to do next

  • Check what blocked the securities. If it is your own corporate action election, you may need to withdraw it or wait for the event; if it is a market block, ask your custodian when it ends.

Where it appears in MT and ISO 20022

MT (ISO 15022)

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

MX (ISO 20022)

  • sese.024 SttlmSts/Pdg/Rsn/Cd/Cd = SBLO or SttlmSts/Flng/Rsn/Cd/Cd = SBLO.