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 the file are NOT processed into the database of transactions maintained by the MSRB.

"AMEND (or Cancel and Resubmit)" ERRORS

Determine what is causing unacceptable data (usually format errors) in trade record. Amend the record or cancel it. If record is canceled, resubmit the record correctly for it to be entered into the database. If the original record is canceled, the resubmission of the record can be either with a new control number or with the original control number.

The record is NOT entered 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, the record can be canceled and you can then 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 database of transactions. 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.

The record in this case has been entered into the MSRB database. However, 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). These are the only error messages that can be "verified."

These trade records are entered into the database. However, something about the information created a question as to what you intended to report.

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 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

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

183

RECORD IGNORED: Invalid CUSIP check digit.

RCD IGNORD: 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

RECORD IGNORED: CUSIP check digit missing.

RCD IGNORD: Check Digit missing

See above.

190

RECORD IGNORED:  Trade Date missing

RCD IGNORD: Trade Date missing

191

RECORD IGNORED:  Trade Date not in date format

RCD IGNORD: Trade Date not in date format

192

RECORD IGNORED: Trade Date is in the future

RCD IGNORD: Trade Date in the future

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.

283

RECORD IGNORED: F,C,A or V record more than 90 days old.

RCD IGNORD: F,C,A or V more than 90 days.

Any attempt to alter a record after 90 days is not allowed. All corrections must be done prior to 90 days.

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."

402

RECORD IGNORED: Cannot Amend  Cusip Number

RCD IGNORD: Can't amend Cusip

To change the cusip number on a transaction, you must first cancel and then resubmit the transaction.

403

RECORD IGNORED: Cannot Amend Trade Date

RCD IGNORD: Can't amend trade date

To change the trade date on a transaction, you must first cancel and then resubmit the transaction.

Message Number

Verbose Text of Message

Short Text Version of Message

Comments

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.

173

ATTENTION: No Transaction Detail Records in File

ATTN: No Tran. Details Records in File

There were no trade records submitted in this file.

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?

Message Number

Verbose Text of Message

Short Text Version of Message

Comments

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

540

QUESTION RECORD: A Yield was submitted on what may be a defaulted issue

QUESTION: Yield submission on possibly defaulted Issue