OATS Technical Specifications

FINRA released a new edition of the OATS Reporting Technical Specifications dated December 15, 2008 to accommodate additional changes to OATS for the February 2, 2009 release date. A list of the major changes in the document appears below. Please note that this version of the document includes all changes described in the October 15, 2008 and August 7, 2008 editions of the OATS Reporting Technical Specifications and the September 10, 2008 Addendum. The changes described in this document will be effective upon implementation of the February 2, 2009 OATS release, unless otherwise indicated. The changes will be available in the OATS Certification Test environment on January 5, 2009.


The OATS Reporting Technical Specifications document was originally published in March 1998, for member firms and third parties developing systems to report to the Order Audit Trail SystemSM (OATSSM). Updated editions were published in June and November 1998; May and July 1999; June and October 2000; March and October 2001; April, July, October, and December 2002; April, July and September 2003; March, June, and October 2004, February, April, June, September, and November 2005; May, November and December 2006 and March, August, and November 2007; and August and October 2008 to provide clarification regarding the requirements.

The OATS Reporting Technical Specifications document covers the requirements and procedures for clock synchronization; system access requirements for supplying OATS files to FINRA; order reporting scenarios that describe, from a business perspective, responsibilities for reporting to OATS; details regarding the required layout of OATS files; procedures for providing corrections to OATS data and for receiving feedback from FINRA; and the procedures for registration, self administration, and testing and certification. It also contains a data dictionary that describes all of the data elements in OATS files; a list of report formats, including field names, data types, and lists of permissible values; examples of order reports; and a glossary.

A list of the major changes required for February 2, 2009 implementation appears below. (An expanded list appears in the cover letter for the document.)


Changes include:

  • Added new Special Handling Codes and Desk Special Handling Codes; 
  • Added new Account  Type Code of "X" (Error Account); 
  • Added new Time in Force Code "GTX"- (Good through Extended Hours);
  • Added Negotiated Trade Flag to New and Combined Order/Execution Report; 
  • Added Rejected ROE ID to all report types; 
  • Updated FORE File packaging rules;
  • Replaced the Originating Firm MPID field with the Originating Broker/Dealer Number; 
  • Updated validations;
  • Added new Destination Code;

  • Updated references to OATS Rules to align with the numbering scheme of the new Consolidated FINRA Rulebook;

  • Renamed the Limit Order Display Flag Indicator to Customer Instruction Flag; and
  • Redefined Destination Code ‘XA” and Market Center ID ‘A” to represent the NYSE Alternext Exchange.

 

 

The OATS Reporting Technical Specifications is not intended to provide information about how to develop an electronic system that reports order information; it is only intended to describe what such a system must deliver to FINRA.

OATS Reporting Technical Specifications (12/15/08 edition)

View PDF file (PDF 1.27 MB)

 

View our archive of past specifications.

If you are having problems accessing these files, please contact FINRA Business and Technology Support Services at 1-800-321-6273.