TRACE FAQ - Technical

How do members report via the Computer-To-Computer Interface (CTCI)?
Members may report directly through a computer-to-computer interface (CTCI). The method requires a dedicated curcuit using the TCP/IP network protocol or IBM MQ Series product.

How can I get information about setting up a CTCI interface, and what is the lead time?
You must order physical circuits to set up an interface. Currently the CTCI private network is provided by Worldcom, Inc. For details on ordering, view the Nasdaq Message Switch Specifications . These circuits take about 6-8 weeks to be delivered. Technical details can be found in the CTCI Specifications on the FINRA TRACE Web pages, and questions can be answered by the CTCI Testing Group. Call (800) 243-4284 (option 4), and leave a message with your name, firm, and contact number. Your call will be returned by the CTCI Testing Group.

Do I have to order a separate CTCI line just for TRACE?
No. The header line of the CTCI message defines the application to which the message will be directed. Each firm should decide, based on their mixture of buiness and volume, if multiple lines are needed.

How can members report via the FINRA Web Browser?

Members may report through a secure Web-based application that FINRA provides. The Web application for TRACE reporting is supported under Windows and Sun Solaris. The system supports a variety of standard web browsers. See the TRACE User Guide for further details.

 

Note: The web browser requires each individual to have a unique User ID and a digital certificate. IDs and digital certificates will be assigned by the NASDAQ Web Administrator.

How do members report via the NSCC Interface?

FINRA and the National Securities Clearing Corp. (NSCC) have agreed that members may submit transaction reports to the NSCC, which will forward them to FINRA. The NSCC interface, allows members to transmit initial transaction reports for T-date and "as of" transactions for both customer and broker-dealer transactions.

 

Cancellations and corrections are not currently supported by NSCC. The NSCC interface allows members to report transactions that clear and settle outside of NSCC (e.g., cash trades). Members choosing to use this reporting option should directly contact their Relationship Manger at NSCC for more information.

 

Note: Clearing firms coming through NSCC CANNOT correct transactions in TRACE for their correspondents. Correspondents MUST do it themselves through the FINRA Web application.

How do I download the list of TRACE-eligible bonds (the Issue Master)?
Instructions for downloading the Issue Master file from the secure TRACE Web site can be found in the TRACE User Guide . To download the file via FTP, please see the FTP Download Technical Specification document.

How do I report a system outage or connectivity failure?

When an outage or technical problem occurs that may cause late reporting, your firm must immediately contact Nasdaq Technical Support Services at 800-243-4284. You will be given a problem ticket number which should be kept in your records as documented proof of a system problem.

 

If the problem involves a third-party reporting intermediary or is related to a malfunction in your internal system, do NOT contact Nasdaq Technical Support Services. Have the appropriate party at your firm document the problem. Please refer to FINRA Member Alert, FINRA's Market Regulation Department has established an email address so that firms may register their system outage or other technology problem related to TRACE. It is suggested that you include your MPID and the name, capacity and telephone number of the person submitting the information in the text of the e-mail. The firm should retain copies of these e-mails.

How do I review a trade report that I submitted, or that a clearing firm or service bureau submitted on my behalf?

CTCI. If your firm reports trades through CTCI, FINRA will send the firm an electronic acknowledgment message for each successfully processed trade report submitted. Your application should retain the acknowledgements and provide appropriate review capacity.

 

Web browser. Firms reporting via the FINRA web browser can view their transaction reports using the Trade Scan.

Reporting via another FINRA member. Firms reporting via a FINRA member clearing firm that reports using a give-up can view their transaction reports using the Trade Scan on the FINRA Web browser.

 

Reporting via a service bureau/non-FINRA member firm. Firms reporting via a non-FINRA member service bureau (vendor) can see their reports using the Trade Scan on the FINRA Web browser.

 

NSCC. NSCC will provide reports to its customers of submissions to FINRA's TRACE via the interface. In addition, firms can see their reports using the Trade Scan on the FINRA Web browser.

Is the Issue Master a full file or daily update?
When downloaded the Issue Master is a full file each day. In addition, FINRA will publish a Daily List on the Web site. You can download or view the daily list which will show the additions/deletions/modifications for the following day.

Is the Participant List a full file or daily update?
The Participant List is a full file that may be viewed or downloaded.

If my desktop changes or is upgraded, can I reinstall my digital certificate?
Yes. Please review this document for the procedures.

Can I use the identical digital certificate at my disaster recovery site that I currently have in use?
Yes. Please review this document for the procedures.