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Settlement status codes

SETR: Disagreement Settlement Transaction

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SETR points at the type of settlement transaction in field 22F, such as a trade, repo or securities lending. Under NMAT the types differ; under REJT or REPR the type is not accepted.

Code
SETR
Kind
Reason (24B)
Used with
NMAT, REJT, REPR

What SETR means

Under :24B::NMAT//SETR your :22F::SETR// code differs from the counterparty’s, for example TRAD against REPU, in markets that match on the transaction type.

Under :24B::REJT//SETR or :24B::REPR//SETR the code is unrecognised or not allowed for this account, security or market.

When you see it

  • When one side books a repo or lending leg as an ordinary trade, or when a market only allows a subset of SETR codes.

What to do next

  • Check :22F::SETR// in sequence E against the business type of the trade and the market’s list of allowed codes. Re-instruct the wrong side.

Where it appears in MT and ISO 20022

MT (ISO 15022)

  • MT548 sequence A2a, :24B::NMAT//SETR, :24B::REJT//SETR or :24B::REPR//SETR
  • The field it refers to: :22F::SETR// in sequence E (SETDET) of the MT540 to MT543

MX (ISO 20022)

  • sese.024 MtchgSts/Umtchd/Rsn/Cd/Cd, PrcgSts/Rjctd/Rsn/Cd/Cd or PrcgSts/Rpr/Rsn/Cd/Cd = SETR (sese.024.001.12); echoed in TxDtls/SttlmParams/SctiesTxTp