Regulatory Notice 12-47

FINRA and ISG Extend Effective Date for Certain Electronic Blue Sheet Data Elements

 

Effective Dates: May 1, 2013

Executive Summary

FINRA and the other U.S. members of the Intermarket Surveillance Group (ISG members) have extended the effective date for compliance with certain new data elements for Electronic Blue Sheets (EBS) identified in Regulatory Notice 12-36 to May 1, 2013.

 

FINRA and the other ISG members note the following:

  • Required fields added to EBS record layout. The fields identified in Regulatory Notice 12-36 as modified below must be added to the EBS record layout by November 30, 2012, as currently required. However, the name and description of the Entering Firm Identifier and Executing Firm Identifier fields are being renamed as Primary Party Identifier and Contra Party Identifier fields, respectively, but the technical format specifications will remain the same. As noted below, for EBS requests from FINRA and the other ISG members, these fields are not required to be populated until May 1, 2013, and for SEC Large Trader EBS requests, these fields are not required to be populated, but at any time firms may voluntarily submit the values to the SEC and they will be accepted.
  • SEC EBS Requests. For Large Trader EBS requests from the SEC, the November 30, 2012, and May 1, 2013, effective dates and their respective requirements to populate the EBS remain unchanged.
  • FINRA and the other ISG member EBS Requests. For EBS requests from FINRA and other ISG members, the Order Execution Time, Primary Party Identifier and Contra Party Identifier fields are not required to be populated until May 1, 2013. Firms may voluntarily submit Large Trader 1-3 and Large Trader Qualifier values to FINRA and other ISG members and they will be accepted.

 Attachment A to this Notice sets forth additional modifications from Regulatory Notice 12-36 regarding changes to the EBS record layout and Attachment B outlines modifications to the Transaction Type Identifiers.

 

Questions concerning the EBS enhancements should be directed to FINRA EBS group.

 

The effective date for compliance with certain elements identified in this Notice has been extended to May 1, 2014. See Regulatory Notice 13-38.