Code Set SeniorityCodeSet Scenario base

SYNOPSIS: Specifies which issue (underlying bond) will receive payment priority in the event of a default. Used to define a CDS instrument.
ELABORATION: The payment priority is this: Senior Secured (SD), Senior (SR), Senior Non-Preferred (SN), Subordinated (SB), Mezzanine (MZ), Junior (JR).

ID Datatype
1450String

Codes

ID Name Value Description Supported Added EP Updated EP Deprecated EP
1450001SeniorSecuredSDSYNOPSIS: Senior Secured
✓FIX.5.0SP183
1450002SeniorSRSYNOPSIS: Senior
✓FIX.5.0SP183
1450003SubordinatedSBSYNOPSIS: Subordinated
✓FIX.5.0SP183
1450004JuniorJRSYNOPSIS: Junior
ELABORATION: In the context of MiFID II this value is used as identified in RTS 23 Annex I Table 3 Field 23 "Seniority of the bond".
✓FIX.5.0SP2235
1450005MezzanineMZSYNOPSIS: Mezzanine
ELABORATION: In the context of MiFID II this value is used as identified in RTS 23 Annex I Table 3 Field 23 "Seniority of the bond".
✓FIX.5.0SP2235
1450006SeniorNonPreferredSNSYNOPSIS: Senior Non-Preferred
ELABORATION: For CDS reference obligations of non-preferred senior debt issued by European Financials that constitute a layer of debt ranking between the bank's normal senior debt but above the bank's normal tier 2 subordinated debt (reference: ISDA Credit Market Infrastructure Group).
✓FIX.5.0SP2235