MSRB Notice
1998-10
ERROR MESSAGES RELATED TO CUSTOMER TRANSACTION REPORTING
(Please retain this notice for future reference)
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.
The error messages fall into five categories, as shown in the following table.
MESSAGE CATEGORIES
| 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.
HEADER ERRORS
| 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 |
"AMEND" ERRORS
| 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 |
"RECORD IGNORED" ERRORS
| 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." |
"ATTENTION" ERRORS
| 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? |
"QUESTION RECORD" ERRORS
| 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 |
May 18, 1998
