Revised Migration Date for New OTC Reporting Facility Technology Platform

FINRA has revised the migration date for firms to begin reporting OTC equity security trades and trades in restricted equity securities effected pursuant to Securities Act Rule 144A to the new OTC Reporting Facility (ORF) technology platform. Firms will begin reporting trades to ORF on the new platform on Monday, September 15, 2014.

 

Firms that expect to have trade reporting obligations under FINRA rules in OTC equity securities and reportable restricted equity securities must migrate to the new platform. Following the technology migration, the ORF will no longer operate on the NASDAQ OMX ACT technology platform.

 

FINRA will issue a technical notice detailing ORF Migration test details shortly.

 

Firms are reminded that, prior to reporting trades to the ORF on or after the launch date, they must execute the FINRA Participation Agreement. Firms that have previously executed the agreement as current TRACE reporting firms must execute the FINRA Participation Agreement Amendment. FINRA also recommends that firms subscribe to FINRA email updates to receive FINRA technical updates and alerts.

 

Questions regarding this announcement should be directed to OTCEquitiesNotification@FINRA.org.