# 487 TradeReportTransType values **URL:** \ **Category:** General Q&A\ **Tags:** post-trade\ **Created:** [April 8, 2019, 9:41am UTC](https://forum.fixtrading.org/t/487-tradereporttranstype-values/14437 "2019-04-08T09:41:33Z")\ **Posts on this page:** 3\ **Page:** 1
**Author:** ![aatulgoel](https://avatars.discourse-cdn.com/v4/letter/a/eb9ed0/32.png) [@aatulgoel](https://forum.fixtrading.org/u/aatulgoel)\ **Post date:** [April 8, 2019, 9:41am UTC](https://forum.fixtrading.org/t/487-tradereporttranstype-values/14437/1 "2019-04-08T09:41:33Z")
Hi Guys, Can you please explain the usage of values below and where you would use one over other. 1 = Cancel 4 = Reverse 5 = Cancel Due To Back Out of Trade Many thanks, Atul Goel ---
**Author:** ![111s](https://yyz2.discourse-cdn.com/flex010/user_avatar/forum.fixtrading.org/111s/32/219_2.png) [@111s](https://forum.fixtrading.org/u/111s)\ **Post date:** [April 8, 2019, 10:54am UTC](https://forum.fixtrading.org/t/487-tradereporttranstype-values/14437/2 "2019-04-08T10:54:10Z")
Atul, 1=Cancel: A Cancel before a following New because origanating system can not do Amends on trade 1=Cancel Mistrade 4=Reverse Busted Trade / Ctpy dead or incapable 4=Reverse successful take up 4=Reverse successful adjustment of trade Always 856 goes with “6=Trade Report Cancel” 5=Cxl due to Back Out of Trade Hmm - Head scratch. No clue yet. Probably when OTC Trade was pulled back from the settlement processing. Rgds ---
**Author:** ![hanno.klein](https://yyz2.discourse-cdn.com/flex010/user_avatar/forum.fixtrading.org/hanno.klein/32/38_2.png) [@hanno.klein](https://forum.fixtrading.org/u/hanno.klein)\ **Post date:** [April 9, 2019, 8:10am UTC](https://forum.fixtrading.org/t/487-tradereporttranstype-values/14437/3 "2019-04-09T08:10:38Z")
TradeReportTransType(487) is to be used in a _message-chaining model_ together with TradeReportID(571) and TradeReportRefID(572). The cancel or reverse instruction is part of the message identified with TradeReportID(571) whereas TradeReportRefID(572) (in the same message) refers to the TCR message to be cancelled or reversed. It can depend on the business model whether cancel or reverse applies. Some allow cancellation within a certain timeframe (e.g. until the counterparty of a give-up has confirmed the take-up). Thereafter, cancellation is no longer permitted but a reversal (with a different fee attached to it) is. I do not know why a cancellation with a specific reason (487=5) was added. Backing out of a (confirmed) trade is basically a reversal.