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OATS |
OATS Reporting Phone-In Workshop On-Demand This phone-in workshop provides updates about OATS, in particular, OATS for OTC-equity securities that became effective February 4, 2008. Panelists discuss common compliance issues and trends, highlight tools available to assist firms in supervision of OATS reporting and address the transition of OATS access through the Firm Gateway. The OATS Reporting Phone-In Workshop lasts approximately 75 minutes and its original, live air date was May 8, 2008.
Access Information
To access the recorded Phone-In Workshop, please dial the phone number provided.
If you have questions regarding the Phone-In Workshop, please email us.
New OATS Reporting Deadline Effective Monday, August 20, 2007, OATS reportable order events that occurred during a particular OATS business day must be reported to OATS by 5:00 a.m. Eastern Time the following calendar day. This new reporting deadline gives firms an additional hour, from the current 4:00 a.m. deadline, to submit OATS data. As of August 20, 2007, reports received after the new 5:00 a.m. deadline will be marked late. FINRA staff, however, encourages member firms and reporting entities to maintain their current internal OATS reporting schedules to ensure timely submission of data.
FINRA Rule Filing Proposed Rule Change to Amend NASD Rule 6952 Relating to the Reporting of Foreign Equity Securities to the Order Audit Trail System (SR-FINRA-2007-001)
Members that have questions about these or other OATS matters may contact the OATS Help Desk by calling (800) 321-6273 or by sending an email to Support Services.
FINRA has established the Order Audit Trail SystemSM (OATS SM), as an integrated audit trail of order, quote, and trade information for Nasdaq® securities. FINRA will use this audit trail system to recreate events in the life cycle of orders and more completely monitor the trading practices of member firms.
Under NASD Rules 6950 - 6958, FINRA member firms are required to develop a means for electronically capturing and reporting to OATS specific data elements related to the handling or execution of orders, including recording all times of these events in hours, minutes, and seconds, and to synchronize their business clocks. These Rules were approved by the SEC on March 6, 1998. On July 31, 1998, the SEC approved amendments to OATS Rules 6954 and 6957 and NASD Rule 3110. The amendments clarify the recording and recordkeeping requirements associated with the OATS Rules. Click on the link above to see the latest version of the Rules.
To learn more about OATS, click on one of the following links:
FINRA Business and Technology Support Services is the primary source of information about OATS. It has expanded its hours of operation.Technology support is available from 8 a.m. Monday to 7:30 a.m. Saturday. Business support is available from 8 a.m. to 6 p.m. Monday through Friday.
Contact Business and Technology Support Services
Please provide your name, title, firm's name, firm's Broker-Dealer Number (if applicable), and a phone number when contacting Support Services by phone, fax or email.
NOTE: The phone menu has been updated. If you have a case ID from an existing case, select 1 and enter your six-digit case ID; otherwise, to obtain OATS support, select 3. For best service, use your case ID when contacting FINRA about a problem that has previously been reported. |
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