TRACE FAQ - General

What is a TRACE-eligible bond?
Please see additional information.

Will market participant information be disseminated in any way to other participants in the TRACE system or as part of the transaction information disseminated to the public?
No

Will I be able to see 144A transaction data collected by TRACE?
No. Transactions in unregistered securities sold pursuant to Rule 144A (to Qualified Institutional Investors or "QIBs") are subject to reporting but will not be desseminated.

Are the TRACE Market Participant IDs the same as the ACT or FIPS MPIDs? No. The TRACE Participant List is available on http://www.nasdbondinfo.com under Downloads and on https://www.nasdtrace.com under Directory Services/Participant Scan.

Why do I see matured and called bonds in the TRACE database?
Matured issues will be retained for a 365-day period to accomodate historical trade corrections.

Why do I sometimes see what appear to be duplicate CUSIP numbers in the database?
Check to see if the CUSIP number has been assigned two symbols. When an issue is trading on a When-Issued basis ("WI"), the same CUSIP number will be set up with two different reporting symbols, one for the WI status bond, and the other for the regular way bond. For firms reporting by symbol, it is important to make sure that the correct symbol has been selected when submitting a TRACE report.