• In your Merge transformation, you're only selecting HSBC_TRADE_REF column from Sort Db.

    1. You need to select HSBC_TRADE_REF column from Flat File as well.

    2. Map the HSBC_TRADE_REF column coming from Flat File to your destination column.

    Because there would be no existing record for this ID in DB that is why you are getting "NULL".

    Hope It would resolve your issue.

    @Edit: Re-phrased

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    AP