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TRACE
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11/7/07 Important Notice for TRACE BTDS Users Please be advised that the following issues were disseminated as "When Issued" on the FINRA BTDS dissemination service in error:
We apologize for the inconvenience.
8/28/07
Should you have any questions, you can contact FINRA Operations at (866) 776-0800 or email FINRA Operations .
6/22/07 Holiday Reminder Regarding TRACE Market Data In observation of the Independence Day, the TRACE system will be closed on Wednesday, July 4, 2007. As stated in the data feed interface specifications, NASD may send out unmarked test data via its data feeds on market holidays. Direct data feed subscribers, including recipients of TRACE data via the Bond Trading Dissemination Service (BTDS) feed should take the necessary precautions to prevent data corruption.
Please be advised that the TRACE system will close early on Tuesday, July 3, 2007. See the table below for a schedule of modified hours (these hours also apply to BTDS). Note: New issue information pursuant to Rule 6260 must be submitted by 1pm E.T. Thank you for your attention to this matter. Please contact FINRA Operations at (866) 776-0800 if you have any questions.
5/9/07 Please be advised that NASDAQ will be closing their Trumbull data center and transitioning to their New York area data center, effective June 2, 2007. Member firms and Service Bureaus that trade report to TRACE using CTCI are required to use new IP addresses and test connectivity prior to June 2nd in order to connect to the new data center. TRACE Web users are not affected by this change.
5/4/07 TRACE System Modification To Enable Processing of Trade Reports Older Than A Year Please be advised NASD will be making a system modification to the TRACE System to support processing of reports from transactions with Execution Dates that occurred more than a year prior to the date the report is made. View more information.
4/26/07 Municipal & TRACE Transaction Reporting Teleconference NASD is hosting a 90-minute Municipal & TRACE Transaction Reporting Teleconference for member firms on Wednesday, June 20, 2007, at 12 p.m. ET. A short question-and-answer session is planned for the end of the workshop. View more details including how to register.
4/19/07
3/9/07 NASD TRACE User Acceptance Testing Scheduled for March 17, 2007 NASD will implement changes to the TRACE back-end system on March 26, 2007. Firms that report into TRACE are encouraged to participate in the UAT to test connectivity and trade reporting functionality. Please refer to NASDAQ Technical Update #2007-006 for additional details as well as registration procedures for participation in the UAT.
2/21/07
NASD TRACE Fact Book
12/28/06
12/26/06 TRACE MPID Change - Pershing LLC Effective Tuesday, January 2, 2007, the firm Pershing LLC will be changing their PERT market participant symbol for fixed income reporting only.
The firm information is as follows:
The MPID of "PERT" will be removed.
Effective January 2, 2007 Pershing LLC will no longer be using the MPID of PERT, all trades currently reported as PERT should be reported as PERS on January 2, 2007. This change will apply to fixed income reporting only. PERT will be decommissioned within the TRACE system. Should you have any question please contact Paul Mastrobuoni (Pershing) at (201) 413-4110 or NASD Operations at (866) 776-0800.
11/1/06 TRACE Fact Book View the first NASD TRACE Fact Book (PDF 25 MB), which provides a historical perspective of the over-the-counter U.S. corporate bond market.
5/9/06 Phone-In Workshop NASD will host a 90-minute Municipal and TRACE Transaction Reporting Teleconference for NASD member firms on Thursday, June 29, 2006
03/27/06 Postponed - Additional Transaction Information to Be Added to BTDS TRACE Feed Messages In reference to the March 1, 2006 Vendor Notification regarding the addition of Buy/Sell and Counter-party information on the BTDS feed:
Please be advised, NASD is postponing the planned implementation of these trade indicators until further notice. As a result, BTDS recipients should not modify their systems to accommodate these changes at this time. NASD will re-post the BTDS Specifications to reflect these changes on our site.
We apologize for altering the rollout schedule and thank you for your time and attention.
01/03/05 Notice to Members SEC Approves Immediate Dissemination of Information on TRACE Transactions; Effective Date: January 9, 2006. View additional information.
12/29/05
11/9/05 Notice to Members 05-77 Transactions in TRACE-Eligible Securities That Occur in Connection with Options, Credit Default Swaps, Other Swaps or Similar Instruments Must Be Reported to TRACE. View additional information.
10/17/05
8/17/05 Notice to Members 05-52 SEC Approves Amendments to TRACE Fee Structure Establishing an Enterprise Fee and Lowering Fee for Receipt of Real-Time TRACE Transaction Data via Web Browser; Effective Date: October 1, 2005. View additional information.
5/23/05
Bond Learning Center
5/17/05
NASD Restructures Certain TRACE Fees for Market Data and Amends the Definition of "Non-Professional" in Connection with TRACE Market Data; Effective Date: June 1, 2005. View additional information.
5/6/05
4/25/05
Underwriters - 6260 Information
4/14/05 Notice to Members 05-28 NASD Reminds Members that the TRACE Reporting Period Will Be Reduced to 15 Minutes on July 1, 2005, and Rescinds Interpretive Guidance Regarding Rejected TRACE Transaction Reports. View additional information.
4/14/05 Real Time Trade Messaging (RTTM) Phase 1 Testing In order to prepare for the May 23, 2005 implementation of the TRACE/RTTM interface, the NASD will conduct Production User Acceptance Tests on Saturday April 30, 2005 and Saturday May 14, 2005 (if necessary).
3/23/05 Real Time Trade Matching (RTTM) - Revised Specifications Please be aware of minor revisions to the messaging specifications for the RTTM/TRACE interface. The document includes a revison history indicating the changes from the previous version. View the updated specifications.
3/18/05 Request for Comments NASD Requests Comment on Proposed Rule Requiring Members to Provide Additional Disclosures for Transactions in Debt Securities; Comment Period Expires April 19. View additional information about Notice to Members 05-21 or submit comments.
3/16/05 Notice to Secure FTP Subscribers Please be aware that Nasdaq infrastructure changes will affect all TRACE FTP subscribers, effective May 13, 2005. View more details.
2/16/05
NASD Fixed Income Conference
02/07/05 News Release NASD’S Fully Implemented “TRACE” Brings Unprecedented Transparency to Corporate Bond Market. View more information.
02/04/05 This is a reminder that the second stage of implementation of Phase 3 dissemination will be effective Monday, February 7, 2005.
Dissemination pursuant to NASD Rule 6250 will include transactions in certain TRACE-eligible securities that are subject to applicable dissemination delays as well as immediate dissemination of transactions of $1 million or less in Non-Investment Grade TRACE-eligible securities that NASD determines to be infrequently traded. For additional information regarding dissemination, members should refer to Notice to Member 04-65.
Firms are reminded that the new daily CUSIP list format will be effective 6 a.m. EST on Monday, February 7, 2005. View the Issue Master being added for dissemination.
TRACE members and vendors will receive dissemination updates on the Issue Master, which is available each morning.
1/25/05 Notice to Members 05-05 NASD Eliminates the TRACE Bond Transaction Data Service (BTDS) Non-Professional Real-Time Data Display Fee and the BTDS Professional Delayed-Time Data Display Fee Pilot Program. View additional information.
1/5/05
Test Data for Phase 3
1/4/05 Notice to Members 05-02 Stage Two of the Expansion of Dissemination of TRACE Transaction Data to Begin on February 7, 2005 Instead of February 1, 2005. View additional information.
12/8/04 Notice to Members 04-90 NASD Issues Interpretive Guidance Regarding Various Trade Reporting and Compliance Engine (TRACE) Rules. View additional information.
12/03/04 The SEC has suspended trading in the securities of 26 companies for the period from 9:30 a.m. EST on December 1, 2004, through 11:59 p.m. EST on December 14, 2004.
Additional information is available at: http://www.sec.gov/litigation/suspensions/34-50760-o-1.htm http://www.sec.gov/litigation/suspensions/34-50760-o-2.htm
Please note ten additional issuers became subject to permanent revocation orders and accordingly all securities of those issuers are subject to permanent trading halts effective December 1, 2004. View additional information.
The information above is deemed to be accurate but is not guaranteed and is provided for informational purposes only. For the original complete text of this information please visit the SEC's Web site at http://www.sec.gov.
View the TRACE issues affected.
9/30/04 NASD releases Report of the Corporate Debt Market Panel, which outlines findings and recommendations of the Corporate Debt Market Panel. These recommendations, which along with the increasing availability of TRACE transaction information, will bring new levels of transparency and information to investors in the corporate bond market.
09/30/04 In order for vendors to prepare for the increased dissemination effective October 1, 2004, NASD has made available a preliminary list of issues being added for dissemination.
The final downloadable list will be available on the morning of Friday, October 1, 2004. NASD will process any changes through the usual channels.
08/25/04 NASD has added reject review to the TRACE Web site. Effective Monday, August 30, 2004, TRACE participants will be able to view review rejected trades. The site can also be used to reprocess rejected entries. Attached is an addition to the User Guide that details the new functionality. Any questions should be directed to TRACE Product Support, Karen Sancilio (212) 858-5178) and Lisa Wilcox (240) 386-6151) or Market Operations (866) 776-0800).
08/16/04 NASD introduces a new report - the TRACE Operations Report - to aid firms in preparing for the changes in TRACE reporting requirements scheduled to take effect on October 1, 2004 (30 minutes) and July 1, 2005 (15 minutes). Users currently registered to access the NASD Report Center will automatically be given access to the new TRACE Operations Report.
Users already registered can login to the Report Center to view current reports. To learn more about these reports or to register, please view our Report Center information.
08/05/04 This is a reminder that the NASD will be conducting a TRACE trading halt notification test today at 2 pm. This test will involve only ONE TRACE TEST ISSUE.
CUSIP: 123456AB1
The test will have no impact on the operation of the TRACE system or any TRACE-eligible securities. Please see the link below for more information.
http://www.nasdaqtrader.com/Trader/News/2004/vendoralerts/nva2004-53.stm
07/28/04 NASD will be having a conference call this Friday, 7/30/04, at 1 pm. Details of the call are as follows:
07/14/04 The TRACE 50 list of disseminated high-yield bonds will be updated effective Thursday, July 15, 2004. There are 23 changes to the list that has been in effect since April 16, 2004. View the new TRACE 50 list. It is expected that this list will remain in effect until mid-October.
View the issues for which dissemination will be discontinued on Thursday, July 15, 2004
07/14/04 Notice to Members 04-51 SEC Approves Amendments to TRACE Rule 6230 to Reduce the Reporting Period to 30 Minutes on October 1, 2004, and to 15 Minutes on July 1, 2005. View additional information.
04/14/04
01/15/04
10/28/03 NASD has filed with the SEC a proposed rule change to amend NASD Rule 7010(k) relating to fees for the Trade Reporting and Compliance Engine (“TRACE”), and is seeking permanent approval of the TRACE fee structure prior to the expiration of the pilot program for fees on January 31, 2004. Comments should refer to file number SR-NASD-2003-157 and should be submitted to the SEC by November 25, 2003.
View text of the proposed rule change and Amendment No.1 to proposed rule change on our Site.
10/15/03
Note: Only the prices for Tests #4 and #17 have been changed from Version 1.4, due to market movement.
10/14/03
10/13/03
The TRACE 50 list of disseminated high yield bonds will be updated effective Wednesday, October 15, 2003. There are 25 changes to the list that have been in effect since July 14, 2003. Click here to view the new TRACE 50 list. Click here to view the issues for which dissemination will be discontinued. Going forward, it is expected that the list of disseminated high yield issues will be revised on a quarterly basis.
10/02/03
09/30/03 NASD is publishing guidance on the resubmission to TRACE of rejected transaction reports and the reporting of bonds with par values other than $1,000. The guidance on resubmission of rejected trade reports takes effect on October 20, 2003. See new NtM 03-58 (September 2003).
09/15/03
09/05/03
09/04/03
The requested moments of silence on September 11 are 8:46 a.m., 9:03 a.m., 9:59 a.m., and 10:29 a.m. Eastern Time. The system will operate on a normal schedule throughout the day.
08/28/03
08/19/03
08/15/03
For more information call Market Operations at (866) 776-0800.
07/10/03
The TRACE 50 High Yield List contains the 50 high yield bonds that are subject to dissemination currently under TRACE. The TRACE 50 High Yield list is determined, and revised periodically using a methodology developed by NASD that takes into account a number of factors set forth in Rule 6250(a)(2), including industry grouping, trading activity, and quantity of bonds outstanding. The methodology was recently revised and improved after consultation with NASD's Bond Transaction Reporting Committee. On July 14, 2003, a new TRACE 50 High Yield List became effective. High yield bonds were retained, added to, or deleted from the TRACE 50 High Yield List using the revised methodology. These 50 bonds are now the only high yield bonds that are subject to dissemination under TRACE. NASD staff expects to revise the TRACE 50 high yield list approximately every quarter, so that the 50 high yield bonds that are subject to dissemination each quarter are fully representative of various active, high yield bond issues and sectors.
07/08/03
The TRACE 50 list of disseminated high yield bonds will be updated effective Monday, July 14, 2003. There are 38 changes to the list that has been in effect since TRACE implementation date, July 1, 2002. Click here to view the new TRACE 50 list. Click here to view the list for which dissemination will be discontinued. Going forward, it is expected that the list of disseminated high yield issues will be revised on a quarterly basis.
06/30/03
On June 18, 2003, the SEC approved amendments to Rule 6230 of the TRACE Rules reducing the current time frame for submission of TRACE reports from 75 minutes to 45 minutes, effective October 1, 2003. NSCC has publicly committed to supporting 45-minute reporting for firms reporting via the NSCC interface, and firms utilizing this method of TRACE access should prepare for submission of 30-minute batches. NASD staff intends to recommend a further reduction of the TRACE reporting period to 15-minutes by mid-2004. Please refer to Notice to Members 03-36.
04/14/03
04/11/03
04/10/03
04/07/03
03/28/03
03/20/03
02/28/03
02/14/03
01/02/03
01/02/03
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