TRACE Quality of Markets Report Cards for Securitized Products

The TRACE Quality of Markets Report Card has been updated to include a Trade Execution Time Difference analysis. This new row of data includes counts for transactions where the trade execution times reported by the party and counter party are substantially different. Firms can also view detailed data for each transaction that has been reported in this row (both your firm’s report and the contra-party report). See your firm's most recent TRACE Quality of Markets Report Cards to access this new feature.

 

If you have any questions, contact the Report Center Administrator.

 

Effective May 16, 2011, asset-backed securities, mortgage-backed securities and other similar securities became TRACE-eligible (see Regulatory Notice 10-55 for more information on the amendments to the TRACE Rules). To help firms monitor their reporting of these securities, collectively known as "securitized products", FINRA now offers a TRACE Quality of Markets Report Card for Securitized Products.

The report card includes the following new features:

  • A view of all of the firm's securitized products reporting statistics, and the ability to filter from the All view to views of the firms' ABS, MBS, TBA, and CMO activity,
  • Counts of "Report Side Unmatched" and "Contra Side Unmatched" trades and the details of those trades, to help you identify inter-dealer trades that your firm reported for which did not match during the TRAQS matching period,
  • Counts of trades that your firm submitted with a modifier and/or a factor was provided and the details of those trades, and
  • Trade Submission Statistics, providing information about how and when your transactions were submitted to TRACE.

Industry statistics are also available on the report, and peer group statistics will be provided in the future. Trade details are also available for many of the counts provided on the report. To access the detail data, click the Details icon on the top right corner of your report.

Users who wish to access these reports should request access to the "View TRACE QMRC Reports" privilege.

 

TRACE Quality of Markets Report Cards for Corporate Bonds and Agency Debt

Per the amended TRACE Rules (FINRA Rule 6700 Series), which became effective on March 1, 2010, primary market transactions in TRACE-eligible securities and Agency Debt Securities transactions are now reportable to TRACE. (For more information about the recent amendments to the TRACE Rules, see Regulatory Notice 09-57). To address these amendments, the Report Center provides a TRACE Quality of Markets Report Cards for Corporate Bond reporting and another report card for Agency Debt activity.

These reports contain three data views:

  • The All view, which shows statistics on all Corporate Bond or Agency Debt reporting,
  • The P1 view, which shows statistics on the firm's trades that are reported with a P1 trading market indicator (i.e., trades subject to T+1 reporting), and
  • The S1 view, which shows statistics on the firm's transactions that are reported with an S1 trading market indicator (i.e., subject to reporting within 15 minutes).


The TRACE Quality of Markets Report Cards for Corporate Bonds and Agency Debt include industry and peer group statistics. Detail data is also available for any late trades identified on the report cards; it can be requested by clicking the "Detail" icon on the top right of each report card. Users who wish to access these reports should request access to the "View TRACE QMRC Reports" privilege..

 

For more information on the TRACE Quality of Markets Report Cards, view the tutorial.

 

For questions or help, contact the Report Center administrator.