FINRA OTC Reporting Facility (ORF) Migration

FINRA is migrating the technology for firms to report trades in OTC equity securities to a new OTC Reporting Facility (ORF) platform. Firms that expect to have trade reporting obligations under FINRA rules in OTC equity securities must migrate to the new platform. When the technology migration begins, the ORF will no longer operate on its current technology platform.

 

FINRA announces updates to the documentation, test dates and other relevant information via OTC Equities Notifications emails and technical notices. FINRA recommends that firms subscribe to the notifications at the "Subscribe to Notices" link listed below. Visit the following pages for the most recent announcements related to the migration.

 

 

 

Current ORF Migration Timetable

  • Firm pre-launch user testing begins (NTF) - 4/14/14
  • Firm pre-launch user testing ends (NTF) - 9/12/14
  • Firm user acceptance test dates (Production) - 8/9/14; 8/16/14; 8/23/14; 9/6/14
  • Legal Agreements and Forms – Due on or before 8/15/14
  • Scheduled Migration Production Date - 9/15/14

 

 

ORF Testing

ORF Migration Software Test Module Availability

 

FINRA will make additions and modifications to specific ORF software modules available for user testing.

 

  • Trade Reporting - 4/14/14
  • Trade Match, Trade Accept, Trade Decline - 4/21/14
  • ORF Trade Journal Files - 6/16/14

 

Current ORF Test System Status

  • NTF system is currently available

 

 

Legal Agreements and Forms

Legal Agreements. View instructions on the required documentation necessary for ORF participation.

 

FINRA Services Port Request Form. Submit a request to NASDAQ OMX to assign ORF ports for FIX and CTCI connections.

 

 

ORF Project Contacts

Area of responsibilityContact

General Questions

OTCEquitiesNotification@FINRA.org

Technical Questions

FINRAProductManagement@FINRA.org

Required Documentation

FINRAOperations@FINRA.org

Market Operations

(866) 776-0800

Product Management

(866) 899-2107

Subscribe to Notices

http://apps.finra.org/contact_us/1/subscribe.aspx?lists=otce

 

 

Training

On-Demand Program: ORF Migration Industry Call

Original Program Date: April 28, 2014

 

The OTC Reporting Facility (ORF) Migration Industry Call originally held on April 28 is now available on demand. On this 75-minute, free program, which was developed to help firms prepare for the September 15, 2014, ORF migration, FINRA staff:

 

  • provide an update on the major changes and enhancements to ORF;
  • discuss ORF testing considerations;
  • highlight trade reporting changes and frequently asked questions;
  • review connectivity considerations for the Trade Data Dissemination Service (TDDS);
  • remind firms of the agreements they must execute and have in place prior to reporting trades to the new ORF; and
  • answer questions about the migration.

 

View the presentation.

Last Updated: 6/20/2014