sese.024 — Securities Settlement Transaction Status Advice

The status advice on a securities settlement instruction. Sent by the CSD (Euroclear, Clearstream, DTCC) to participants to flag matching, pending, settled, fail: the real-time tracker of the T2S cycle and equivalents.

Purpose and place in the flow

sese.024 informs the participant of the current status of its settlement instruction previously submitted via sese.023. Typical statuses: received, matched (matched with counterparty), pending (waiting for funds, securities, or window), settled (settled), cancelled, rejected.

T2S flow context: a custodian submits sese.023 to settle 10,000 ACME shares at J+2; T2S acknowledges and sends sese.024 «received»; matching with the counterparty triggers sese.024 «matched»; at the T2S settlement window, if everything is positioned, sese.024 «settled»; otherwise sese.024 «pending» with reason (positioning insufficient, cash blocked).

XML structure

sese.024 is wrapped in <Document> then the root <SctiesSttlmTxStsAdvc>. Structure:

• TxId — CSD-side transaction identifier.
• Lnkgs (Linkages) — Reference to the original instruction (sese.023).
• PrcgSts (Processing Status) — Processing status: matching, validation.
• SttlmSts (Settlement Status) — Settlement status: pending, settled, cancelled, failed.
• TradDtls — Trade details (dates, quantity).
• FinInstrmId — Securities ISIN identifier.

Key fields

• TxId — CSD transaction identifier (max 35 chars).
• Lnkgs/Ref/AcctOwnrTxId — Participant reference (= :20: of the original sese.023).
• PrcgSts/MtchgSts/Mtchd/Prtry/Id — Matching code: MACH (matched), NMAT (not matched), CAND (cancelled at sender request).
• SttlmSts/Pdg/Rsn/Cd — Pending reason: PRSY (waiting cash positioning), SECP (waiting securities positioning), BLOK (account blocked), LACK (lack of securities), CYCL (waiting next cycle).
• SttlmSts/Sttld — If present, transaction settled with datetime.
• SttlmSts/Canc — If present, transaction cancelled.
• SttlmSts/Flld — If present, transaction failed (reason required).
• TradDtls/SttlmDt/Dt — Expected settlement date.
• TradDtls/SttlmQty/Qty/Unit — Quantity to settle.
• FinInstrmId/ISIN — Affected security ISIN.

XML example

Advice sent by Euroclear T2S to a custodian on 16 May 2026: transaction ACME-DVP-2026-187 (DvP of 10,000 ACME shares ISIN FR0010315770) has been matched with the counterparty, but is pending for insufficient cash positioning on the counterparty side:

<?xml version="1.0" encoding="UTF-8"?>
<Document xmlns="urn:iso:std:iso:20022:tech:xsd:sese.024.001.12">
  <SctiesSttlmTxStsAdvc>
    <TxId>EOC-SETT-20260516-001</TxId>
    <Lnkgs>
      <Ref>
        <AcctOwnrTxId>ACME-DVP-2026-187</AcctOwnrTxId>
      </Ref>
    </Lnkgs>
    <PrcgSts>
      <MtchgSts>
        <Mtchd>
          <Prtry>
            <Id>MACH</Id>
          </Prtry>
        </Mtchd>
      </MtchgSts>
    </PrcgSts>
    <SttlmSts>
      <Pdg>
        <Rsn>
          <Cd>PRSY</Cd>
          <AddtlRsnInf>Waiting for cash counterparty positioning at T2S</AddtlRsnInf>
        </Rsn>
      </Pdg>
    </SttlmSts>
    <TradDtls>
      <TradDt>
        <Dt>
          <Dt>2026-05-14</Dt>
        </Dt>
      </TradDt>
      <SttlmDt>
        <Dt>
          <Dt>2026-05-16</Dt>
        </Dt>
      </SttlmDt>
      <SttlmQty>
        <Qty>
          <Unit>10000.0000</Unit>
        </Qty>
      </SttlmQty>
    </TradDtls>
    <FinInstrmId>
      <ISIN>FR0010315770</ISIN>
    </FinInstrmId>
  </SctiesSttlmTxStsAdvc>
</Document>

Versions

Common pitfalls

• Missing Lnkgs — without the reference to the original instruction, status cannot be reconciled. T2S and other CSDs always emit AcctOwnrTxId.
• MtchgSts vs SttlmSts confusion — MtchgSts says whether the instruction matches with the counterparty; SttlmSts says whether it is settled. A matched instruction can remain pending for several days due to insufficient positioning.
• Proprietary reason codes — only use the published ISO 20022 external codes. A proprietary CSD code (EOC-FAIL-X12) is not interpretable by the participant.
• CSDR penalties — since CSDR Refit (effective 2026), settlement fails trigger a financial penalty. sese.024 «pending» at end-of-day announces an upcoming penalty to provision.
• Buy-in if prolonged fail — under CSDR, a fail beyond 4 business days (liquid securities) triggers a mandatory buy-in. Persistent sese.024 «pending» should trigger manual escalation.
• Excessive volume — for an active participant, sese.024 can represent tens of thousands of messages per day. Implement receive-side filtering to log only significant changes.

Related messages

• sese.023 — Securities Settlement Transaction Instruction (original instruction).
• sese.025 — Securities Settlement Transaction Confirmation (final confirmation).
• sese.022 — Settlement Status Advice (legacy equivalent).
• sese.020 — Settlement Transaction Cancellation Request.
• sese.027 — Allegement Notification (counterparty allegement).