OATS Reporting Requirements to OTCTM Equity Securities
On October 10, 2006, the SEC approved SR-NASD-2005-101 expanding the OATS reporting requirements to include OTC equity securities. NASD will be publishing a Notice to Members and revised OATS Reporting Technical Specifications outlining the detailed reporting requirements within the next 60 days. The implementation date will be announced in the Notice To Members and will be approximately six months following the publication of the Notice To Members. For more information please contact the OATS Helpdesk at (800) 321-6273.
NASD Files Rule Change to Delay OATS for OTC Equity Securities Implementation
In response to concerns raised by members regarding programming resources required for the implementation of Reg. NMS, NASD has filed a rule change with the SEC to delay the implementation date of SR-NASD-2005-101 expanding the OATS reporting requirements to include OTC equity securities until February 4, 2008. FINRA is also reviewing the scope of covered securities under the new amendments.
If firms execute in the US a foreign equity security that does not have a US issue symbol, firms must immediately request an issue symbol from NASDAQ in order to satisfy their trade reporting obligations under NASD Rule 6620.
New Destination Codes
Elimination of Odd-lot reporting Exception Codes "O" and "C"
New Desk Type Codes
New Market Center ID
New Routing Method Code
View a listing of frequently asked questions about OATS OTC.