OATS Compliance Guidelines

June 29, 2001

 

To ensure OATS works effectively, order data must be reported accurately and timely. The NASD Market Regulation Department recommends the following guidelines to aid member firms in their responsibility to properly report order data to OATS.

 

Ten Preventive Compliance Tips:

 

  1. Review the OATS Web interface daily to ensure all files have been accepted.
  2. Review the Web Site daily to identify and repair any rejected ROEs and to monitor ACT matching statistics.
  3. Maintain and enforce adequate supervisory procedures.
  4. Perform periodic reviews of accepted data against order tickets and the OATS Reporting Technical Specifications to ensure data has been reported accurately and in accordance with NASDR requirements.
  5. Communicate regularly with your Order Sending Organization if someone is submitting data on your behalf to ensure data is being properly submitted.
  6. Read regularly published editions of The OATS Report and review the OATS Frequently Asked Questions page.
  7. Read the Subscriber Manual and Technical Specifications as they are updated.
  8. Use the Help Desk at (800) 321-NASD.
  9. Report abnormalities to the Help Desk or to Market Regulation.
  10. Keep up-to-date in OATS reporting—untimely reporting can lead to unnecessary rejects and ACT matching problems.

Should you have any questions or concerns regarding these guidelines or about OATS in general, please contact the NASD at (800) 321-NASD.

Last Updated: 6/29/2001