Peter put together an initial list of dispute reasons for MC5 and MC6. Please review. We’ll discuss tomorrow.
We discussed the dispute reasons internally and agreed to limit the initial dispute reasons to maximize the automation of them into our respective collateral management platforms. I do not see a need for two lists as we all agreed the resolution of the disputes fall outside of these messages
Below is a proposed short list of initial (high level) dispute reasons;
Peter Walsh • Vice President• State Street Corporation
From: Lyteck Lynhiavu [mailto:LLynhiavu@xxxxxxxx]
At the last meeting the group discussed using a combination of free-form comment field and/or reason code(s) to capture the reason why a margin call is being disputed.
I have you down for an action item to put together a draft list of generic reason codes for the MC5 (Full Dispute) & MC6 (Partial Dispute) messages; one or more standard reason codes would be used in these messages. (Do you foresee the need for 2 lists/schemes for full and partial disputes?)
You may reply to me (I can bundle your input) or directly to the group; it could be presented to the group on Wednesday.
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