ERROR MESSAGES RELATED TO CUSTOMER TRANSACTION REPORTING

Following are the error messages produced by the MSRB Transaction Reporting System regarding customer trade information submitted by dealers. Since April 23, 1998, the System has included these messages in the Receipt/Error files that are sent to submitters. Compared to the messages used previously, the revised messages provide better guidance on what submitters should do when they receive certain error message.

Type of Error Message	Action That Should Be Taken	Comments
HEADER ERRORS	Determine what is causing formatting problems in header record; resubmit file for processing with a correct header.	Records in a file that has these errors are NOT processed into the database of transactions maintained by the MSRB.
"AMEND (or Cancel and Resubmit)" ERRORS	Determine what is unacceptable in the trade record. Usually, the format is incorrect. Amend the record or cancel it. If you cancel the record, resubmit it correctly for it to be entered into the database. The resubmitted record can have either a new control number or the original control number.	The system does NOT enter the erroneous record into the database. Unless a "RECORD IGNORED" error also was received on the record, it is best to amend the record so that it can be accepted. Alternatively, you may cancel the record and start over with a resubmission.
"RECORD IGNORED" ERRORS	Determine why the record was submitted with a fatal error and make corrections for future submissions. Determine whether you need to resubmit this information.	These messages mean essentially that the record was ignored for purposes of the MSRB transaction database. Note that records with these errors CANNOT be amended to make them acceptable for the database. Also, no attempt should be made to cancel the specific record generating this error since it has been ignored.
"ATTENTION" ERRORS	Determine what is causing this message to appear and take action to prevent or minimize such errors in the future. It not necessary (nor generally advisable) to amend or cancel the records to take care of these errors.	These messages mean that record has been entered into the MSRB transaction database, but some aspect of the record, or the timing of its submission, indicates a possible problem in the system generating the record. Therefore, your attention is needed to improve future submissions.
"QUESTION RECORD" ERRORS	Review the record that is questioned to ensure that the information you provided about the trade is what you intended. You may "verify" the record, "amend" it, cancel it or leave it as is (if it is correct). Trade records with these errors are the only ones that can be "verified."	These trade records are entered into the MSRB transaction database. However, something about the information created a question as to what you intended to report.

Each of the tables that follows presents the error messages in a particular category. The "verbose" messages appear on the faxed reports sent to the dealer by the system; the short text appears on the file uploaded to the dealer via NSCC. Note: The system will continue to produce message 001, "All records were successfully processed (No errors were found)", in response to error-free files.

Message Number	Verbose Text of Message	Short Text Version of Message	Comments
091	HEADER ERROR: Header Record is missing. File NOT processed.	HDR ERROR: Header missing - File NOT processed
093	HEADER ERROR: Duplicate of a previous Header Record. Records NOT processed.	HDR ERROR: Duplicate Header - File NOT processed	The header record in this file has the same submitter ID, submission date and sequence number as a file that the MSRB already processed.
100	HEADER ERROR: Submitter identifier missing. File NOT processed	HDR ERROR: Sbmittr ID missing - File NOT processed
101	HEADER ERROR: Invalid submitter identifier. File NOT processed	HDR ERROR: Invalid Sbmittr ID - File NOT processed
150	HEADER ERROR: Invalid version identifier in header. File NOT processed.	HDR ERROR: Invalid version in HDR - File NOT processed
160	HEADER ERROR: File type missing in header. File NOT processed.	HDR ERROR: File Type missing in HDR - File NOT processed
161	HEADER ERROR: Invalid file type (must be "S" "R" or "T") File NOT processed	HDR ERROR: Invalid File Type in HDR - File NOT processed

Message Number	Verbose Text of Message	Short Text Version of Message	Comments
183	AMEND RECORD (or Cancel and resubmit). Invalid CUSIP check digit	AMEND RCD: Invalid CUSIP check digit	A valid check-digit is a critical part of MSRB data editing. Transaction records will not be entered into the database without a correct check-digit.
184	AMEND RECORD (or Cancel and resubmit) CUSIP CHECK DIGIT MISSING	AMEND RCD: Check Digit missing	See above.
190	AMEND RECORD (or Cancel and resubmit) Trade Date missing	AMEND RCD: Trade Date missing
191	AMEND RECORD (or Cancel and resubmit) Trade Date not in date format	AMEND RCD: Trade Date not in date format
192	AMEND RECORD (or Cancel and resubmit) Trade Date is in the future	AMEND RCD: Trade Date in the future
220	AMEND RECORD (or Cancel and resubmit) Buy/Sell indicator missing	AMEND RCD: Buy/Sell indicator missing
221	AMEND RECORD (or Cancel and resubmit) Buy/Sell indicator not "B" or "S"	AMEND RCD: Buy/Sell indicator not "B" or "S"
230	AMEND RCD (or Cancel and resubmit) Par Value missing	AMEND RCD: Par Value missing
233	AMEND RECORD (or Cancel and resubmit) Par Value not numeric	AMEND RCD: Par Value not numeric
241	AMEND RECORD (or Cancel and resubmit) Both Dollar Price and Yield are missing	AMEND RCD: Both Dollar Price and Yield missing
243	AMEND RECORD (or Cancel and resubmit) Dollar Price not numeric	AMEND RCD: Dollar Price not numeric
246	AMEND RECORD (or Cancel and resubmit) No decimal in Dollar Price	AMEND RCD: No decimal in Dollar Price
252	AMEND RECORD (or Cancel and resubmit) Yield is not numeric	AMEND RCD: Yield is not numeric
254	AMEND RECORD (or Cancel and resubmit) No decimal point in Yield	AMEND RCD: No decimal point in Yield
260	AMEND RECORD (or Cancel and resubmit) Dealer "Capacity" (either Agent or Principal) missing	AMEND RCD: Dealer "Capacity" (A or P) missing
261	AMEND RECORD (or Cancel and resubmit) Dealer "Capacity" must be either "A" or "P"	AMEND RCD: Dealer capacity must be "A" or "P"
271	AMEND RECORD (or Cancel and resubmit) Commission was given on principal trade	AMEND RCD: Commission on principal trade
273	AMEND RECORD (or Cancel and resubmit) Commission not numeric	AMEND RCD: Commission not numeric
274	AMEND RECORD (or Cancel and resubmit) No decimal in Commission	AMEND RCD: No decimal point in commission
281	AMEND RECORD (or Cancel and resubmit) Settlement Date before Trade Date	AMEND RCD: Settlement Date before Trade Date
282	AMEND RECORD (or Cancel and resubmit) Settlement Date not in Date Format	AMEND RCD: Settlement Date not in date format
560	AMEND RECORD (or Cancel and resubmit) Dollar Price missing for Regular Way CUSIP	AMEND RCD: Dollar Price Missing for Reg Way CUSIP

Message Number	Verbose Text of Message	Short Text Version of Message	Comments
210	RECORD IGNORED: Dealer identifier missing. CANNOT amend or cancel. Resubmit with valid ID.	RCD IGNORD: Dealer identifier missing. Resubmit	Any attempt to cancel or amend this record will fail since a valid dealer identifier is a key to identifying a previously submitted record.
262	RECORD IGNORED: Dealer identifier was numeric. CANNOT amend or cancel this record. Resubmit with valid ID.	RCD IGNORD: Dealer ID numeric. Resubmit	See above. Only four-letter IDs assigned by the NASD may be used to report trades. An ID must be registered with the MSRB before use.
263	RECORD IGNORED: Dealer ID is not alphabetic. CANNOT cancel or amend this record. Resubmit with valid ID.	RCD IGNORD: Dealer ID not alpha. Resubmit	See above
264	RECORD IGNORED: Dealer ID not known to MSRB. CANNOT cancel or amend this record. Call MSRB	RCD IGNORD: Dealer identifier not known. Resubmit	See above. Call the MSRB to provide identifying information about the dealer.
290	RECORD IGNORED: Submission Code (F,C,A or V) missing. CANNOT cancel or amend. Resubmit	RCD IGNORD: Submsn Code (F,C,A,V) missing. Resubmit	Any attempt to cancel or amend this record will fail. Submission Code is critical to identifying a previously submitted record.
291	RECORD IGNORED: Submission Code invalid (Must be F,C,A, or V) CANNOT cancel or amend this rcd	RCD IGNORD: Submsn Code (F,C,A,V) invalid. Resubmit	See above
292	RECORD IGNORED: No matching transaction was found in database for this cancel, amend or verify record. Check control #	RCD IGNORD: No match found for this C,A or V recd	This message indicates that the MSRB does not have a validly submitted record bearing this dealer identifier and control number. You cannot cancel or amend this record.
301	RECORD IGNORED: F record had a Control Number already in database. Canceling this # will cancel initial record	RCD IGNORD: F record had Control # already in use	The second of two "F" records with the same dealer identifier and control number is ignored. A "cancel" record with this combination would then cancel the INITIAL F record.
302	RECORD IGNORED: C, A or V record had a control # that previously had been canceled	RCRD IGNORD: C,A or V record for previously canceled #	It is not possible to cancel, amend or verify a record that previously has been canceled.
311	RECORD IGNORED: Control number missing on Record. CANNOT cancel or amend. Resubmit	RCD IGNORD: Ctrl # missing – CANNOT cancel or amend	Any attempt to cancel or amend this record will fail since control number is a key to identifying a previously submitted record.
401	RECORD IGNORED: Record attempted to verify a record with a nonverifiable error	RCD IGNORD: V record submitted for nonverifiable rcd	Only records having "Question" errors can be verified. If any other type of error is present, do not attempt to "verify."

Message Number	Verbose Text of Message	Short Text Version of Message	Comments
090	ATTENTION: There were no records in this file	ATTN: There were no records in this file	If you intended to include records of trades, you should determine why they were not sent. If necessary, resubmit the file, correctly.
092	ATTENTION: File contains multiple Header Records. First header used to process file	ATTN: Multiple Headers - File procssd with first	Header records that follow the first header are ignored.
120	ATTENTION: Invalid Submission Date in Header	ATTN: Invalid Submission Date in header
121	ATTENTION: Submission Date missing in Header	ATTN: Submission Date missing in Header
130	ATTENTION: Submission Time missing in Header	ATTN: Submission Time missing in Header
131	ATTENTION: Invalid Submission Time in Header (wrong format)	ATTN: Invalid Submission Time in Header (format)
140	ATTENTION: Invalid Sequential File Number (non-numeric)	ATTN: Invalid Sequential File Number (non-numeric)
141	ATTENTION: File received out of sequence (sequence number in header wrong?)	ATTN: File received of sequence (sequence #?)	Even though out-of-sequence files may be processed, you should check to ensure that a file was not missed.
170	ATTENTION: Record Count discrepancy between Header and actual records in File. Check for missing or extra records	ATTN: Record Count discrepancy btwn HDR and File	The "record count" in the header should equal the number of TRADES you report in the file.
171	ATTENTION: Record Count in Header is not numeric	ATTN: Record Count in HDR is not numeric
172	ATTENTION: Record Count in Header is zero	ATTN: Record Count in HDR is zero	If there were any records in the file, they have been processed, but MSRB could not verify the number of records.
193	ATTENTION: Trade record received after trade date	ATTN: Trade record received after trade date
194	ATTENTION: File containing this Trade Record was received after midnight deadline	ATTN: File received after midnight deadline
200	ATTENTION: Time of Trade missing in this record	ATTN: Time of Trade missing
201	ATTENTION: Time of Trade invalid (not a time)	ATTN: Time of Trade invalid (not a time)
400	ATTENTION: More than 4 errors found	ATTN: More than 4 errors found
502	ATTENTION: CUSIP appears not to be for a Municipal issuer. Please check and do NOT submit if not a muni	ATTN: CUSIP appears not to be for a Municipal Issuer
551	ATTENTION: Settlement Date missing for what appears to be a Regular-Way CUSIP	ATTN: Settlement Date missing for Regular-Way CUSIP?

202	QUESTION RECORD: Time of trade not between 0600 - 2100	QUESTION: Time of Trade (not 0600-2100)	Use military format (e.g., 3 p.m. = 1500)
231	QUESTION RECORD: Par Value less than $1000	QUESTION: Par value less than $1000
232	QUESTION RECORD: Par Value not a multiple of $1000	QUESTION: Par Value not a multiple of $1000
234	QUESTION RECORD: Par Value greater than $20,000,000	QUESTION: Par Value greater than $20,000,000
242	QUESTION RECORD: Dollar Price less than $1.00	QUESTION: Dollar Price is less than $1.00
244	QUESTION RECORD: Dollar Price greater than $200.00	QUESTION: Dollar Price greater than $200.00
245	QUESTION RECORD: Dollar Price less than $10.00	QUESTION: Dollar Price less than $10.00
247	QUESTION RECORD: Yield greater than Dollar Price	QUESTION: Yield greater than Dollar Price
251	QUESTION RECORD: Yield less than 1% or greater than 30%	QUESTION: Yield less than 1% or greater than 30%
272	QUESTION RECORD: Commission greater than 10% of dollar price	QUESTION: Commission greater than 10%	Commissions greater than 10% of dollar price are questioned.
280	QUESTION RECORD: Settlement Date more than two years in future	QUESTION: Settlement Date more than 2 yr in future
516	QUESTION RECORD: A Yield was submitted on what may be a defaulted issue	QUESTION: Yield submission on possibly defaulted Issue