Instructions for Completing the FINRA Participation Agreement and Supplements

This page provides guidance for completing the FINRA Participation Agreement (FPA) and supplemental documentation required to access TRACE. Please contact Trace Feedback with questions.

 

How to Sign Up for TRACE Reporting

A party who is authorized to sign official documents on behalf of a firm must sign the FPA and other applicable supplements (see below) and mail two completed copies to:

 

FINRA Operations
9509 Key West Avenue
Rockville, MD 20850

 

FINRA Operations will keep one copy of the documents and return a signed copy to the firm. For questions, contact FINRA Operations at (866) 776-0800.

 

Required Documentation

All users of the TRACE system, whether FINRA member firms or third-party reporting intermediaries, must complete and submit a TRACE Order Form indicating the TRACE access method selected.

 

All users of the TRACE system, whether FINRA member firms or third-party reporting intermediaries, must complete and submit the FINRA Participation Agreement.

 

FINRA member firms that handle their own reporting must complete and sign the FINRA Participation Agreement and one or both of the following, where applicable:

 

  1. TRACE Order Form (notifying FINRA of the access method selected and number of User IDs requested).
  2. Instructions and Resources for Nasdaq CTCI

 

FINRA member firms that delegate reporting to a third-party reporting intermediary must complete and sign the FINRA Participation Agreement as well as complete and sign the Uniform Services Agreement if:

 

  1. a FINRA member firm (e.g., a clearing firm or a member firm Alternative Trading System (ATS)) is reporting on behalf of another FINRA member, or
  2. a service bureau or vendor is reporting on behalf of a FINRA member firm.

 

A FINRA member firm (e.g., a clearing firm or a member ATS) that offers reporting services on behalf of another FINRA member must complete and sign the FINRA Participation Agreement and the Uniform Services Agreement.

 

A non-FINRA member third-party reporting intermediary (e.g., a Service Bureau or vendor) must sign a FINRA Participation Agreement and the Uniform Services Agreement.

 

Note: In addition to the FINRA Participation Agreement and TRACE Order Form, FINRA members (and non-members) who currently have an executed FINRA Uniform Services Agreement for any FINRA product listed in Attachment A of the agreement will only need to update Attachment A of that agreement in order to add TRACE.

 

Amending a Previously-Signed FPA

A party who is authorized to sign official documents on behalf of a firm and is adding (deleting) a Product to (from) their existing agreement must sign the FPA Amendment and mail two completed copies to:


FINRA Operations
9509 Key West Avenue
Rockville, MD 20850

FINRA Operations will keep one copy of the documents and return a signed copy to the firm. For questions, contact FINRA Operations at (866) 776-0800.
 

Accessing the Issue Master

Firms must have an FPA on file with FINRA and a Web API certificate to access the file of reportable CUSIPS. The list of reportable bonds will be available for manual download from the TRACE secure website. The file will also be available on a secure Web API server each morning.  View instructions for Web API downloading of the Issue Master, Participant List, Daily List, and Closing Price Files.

 

Note: In order for the CUSIP numbers to be provided, your firm must have a daily license in place with CUSIP, since FINRA does not own these numbers. Otherwise, the numbers will be suppressed.

Last Updated: 4/23/2013