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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