Modified and New Specifications for Reporting OTC Equity Trades to New OTC Reporting Facility (ORF) Platform
FINRA has updated the Financial Information eXchange (FIX) and Computer-to-Computer Interface (CTCI) specifications and has also published an initial draft version of the FINRA Automated Data Delivery Service® (ADDS) specification for reporting OTC equity trades to the new OTC Reporting Facility (ORF) platform.
FINRA previously published the FIX and CTCI technical specifications, which include the system changes required to report OTC equity securities and reportable restricted equity securities to the new platform. The new platform will support FIX and CTCI protocols for trade reporting and trade management of OTC equity securities and reportable restricted equity securities.
The ADDS specification is a draft version and may be modified as necessary as the new ORF platform launch date approaches. FINRA ADDS is a secure website through which firms can request files containing transaction data submitted to the Over the Counter Trade Reporting Facility (ORF). Firms may use the data to help monitor their trading and reporting activity and support compliance procedures.
FINRA plans to migrate the ORF to the new platform on Monday, April 28, 2014. FINRA will issue additional technical notices about the migration as details are known.
Please direct questions concerning these changes to FINRA Product Management or call (866) 899-2107.