sese.022 — Securities Settlement Status Advice

The status report for a settlement instruction. The CSD or custodian informs the instruction sender of its current state: matched, unmatched, pending, settled, cancelled. The message that drives every post-trade reconciliation.

Purpose and place in the flow

sese.022 (renumbered sese.024 in 2024) tracks the life cycle of a sese.023 settlement instruction submitted to the CSD. On every state transition, the CSD issues a sese.022/024: as soon as a mirror instruction has matched (Matched), if settlement is pending on securities or cash (Pending with reason), once settled, or on cancellation.

The message is idempotent: each sese.022 contains the full current state. No need to aggregate prior advices — the last one received is the current state.

Status codes

Three status axes are reported simultaneously:

• MtchgSts (Matching Status): Matched, Unmatched, NotMatched.
• SttlmSts (Settlement Status): Pending (with reason), Settled, PartiallySettled, Failing.
• InsPrcgSts (Inferred Processing Status): Pending, Cancelled, Modified.

Most common Pending reason codes (Rsn/Cd):

• LACK — Lack of securities on delivering account.
• CASH — Lack of cash on the buyer's account.
• LATE — Late submission.
• PRCY — Counterparty's instruction not yet received.
• SETR — Securities are restricted (compliance hold).

XML structure

• TxId — Dual identifiers: AcctOwnrTxId (client) + AcctSvcrTxId (CSD).
• PrcgSts (Processing Status) — main block with MtchgSts, SttlmSts, possibly Rsn (reason codes).
• TradDtls — Trade and settlement dates.
• FinInstrmId — ISIN.
• QtyAndAcctDtls — Quantity and securities account (reminder).

XML example

T2S Status Advice to BNP Paribas: the transaction is matched (MT541/MT543 paired), but settlement is pending with reason LACK (lack of securities on Northern Trust's account):

<?xml version="1.0" encoding="UTF-8"?>
<Document xmlns="urn:iso:std:iso:20022:tech:xsd:sese.024.001.12">
  <SctiesSttlmTxStsAdvc>
    <TxId>
      <AcctOwnrTxId>BNP-INST-20260516-001</AcctOwnrTxId>
      <AcctSvcrTxId>T2S-INST-20260516-987654</AcctSvcrTxId>
    </TxId>
    <PrcgSts>
      <MtchgSts>
        <Mtchd/>
      </MtchgSts>
      <SttlmSts>
        <Pdg>
          <Rsn>
            <Cd>LACK</Cd>
            <AddtlRsnInf>LACK OF SECURITIES ON DELIVERING ACCOUNT</AddtlRsnInf>
          </Rsn>
        </Pdg>
      </SttlmSts>
    </PrcgSts>
    <TradDtls>
      <TradDt><Dt><Dt>2026-05-15</Dt></Dt></TradDt>
      <SttlmDt><Dt><Dt>2026-05-16</Dt></Dt></SttlmDt>
    </TradDtls>
    <FinInstrmId>
      <ISIN>US0378331005</ISIN>
    </FinInstrmId>
    <QtyAndAcctDtls>
      <SttlmQty>
        <Qty>
          <Unit>200.0000</Unit>
        </Qty>
      </SttlmQty>
      <SfkpgAcct>
        <Id>12345678</Id>
      </SfkpgAcct>
    </QtyAndAcctDtls>
  </SctiesSttlmTxStsAdvc>
</Document>

Common pitfalls

• Confusing Matched and Settled — Matched means both instructions paired. Settled means securities + cash actually moved. A matched-but-pending trade is not settled.
• Ignoring reason codes — a Pending without context loses 90% of its value. Always read Rsn/Cd to identify the blocker (lack of securities? cash?).
• sese.022 vs sese.024 confusion — ISO 20022 RA renumbered sese.022 to sese.024 in 2024. Both coexist. Check the XSD namespace to parse correctly.
• Status Advice asynchronicity — an advice can arrive late relative to the actual event. Always use the advice datetime to determine chronology.
• Compliance hold (SETR) — SETR status means a compliance block (OFAC, sanctions). No automatic resolution: requires manual compliance intervention.

Related messages

• sese.023 — Securities Settlement Transaction Instruction (the tracked instruction).
• sese.011 — Allegement Notification (unmatched transaction).
• sese.020 — Cancellation Request.
• MT548 — Settlement Status and Processing Advice (SWIFT MT equivalent).