Timing of Corrections to New Order Reports

April 15, 2002

 

The time period to correct a New Order Report or a subsequent order event depends on how long it has been since the New Order Report was accepted by OATS. The system maintains two files for validating data it has accepted: the Day Order File and the GTC File. The Day Order File contains all DAY, GTT, and Market orders for a rolling five business days. The GTC File contains GTC, GTM, and GTD orders for up to a year. If you are looking to correct an event that relates to the Day Order File, you will need to act within the five-business day window, otherwise, your correction will reject because the New Order Report will no longer be available to validate the correction. Similarly, corrections to order events in the GTC File will need to be made within one year. In either case, corrections should be made as soon as the firm is aware of the need to correct submitted data.

 

Should you have questions about this article, please contact the Gateway Business Applications Support group at (800) 321-NASD (Listen to the prompts for "business" and "OATS".)

Last Updated: 4/15/2002