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Technical Notice

Reminder: OTC Trade Reporting Facility (ORF) Migration

November 05, 2014

The FINRA ORF technical platform migration will begin on Monday, November 17, 2014. The major functional and administrative areas for the migration are listed below.

ORF

are also available to assist firms with the ORF migration.

ORF Carryover Transactions From November 14, 2014, to November 17, 2014

  • Firms should attempt to lock in all ORF trades in Nasdaq ACT by close of business (COB) Friday, November 14, 2014.
  • Unmatched ORF trades that remain in Nasdaq ACT after COB Friday, November 14, 2014, will be carried over in Nasdaq ACT to the next business day, Monday, November 17, 2014.
    • Carried over trades in Nasdaq ACT may be accepted, declined or cancelled in Nasdaq ACT until 14:30 on November 17. Carried over trades in Nasdaq ACT will not be eligible for match/compare on November 17.
  • Firms wanting to correct carried over trades in Nasdaq ACT on November 17 must cancel them in Nasdaq ACT and then enter a new trade in FINRA ORF. If a firm attempts to correct a carried over trade in Nasdaq ACT, the attempted correction action will be rejected.
  • Carried over trades in Nasdaq ACT, which are not accepted, declined or cancelled on November 17 will be auto-locked in Nasdaq ACT by 14:30 as per normal Nasdaq Act processing. These trades will appear to DTCC with the original blotter code.

FINRA Agreements

All FINRA agreements must be on file with FINRA prior to firms accessing and reporting trades to ORF.

Access/Connectivity/Routing

Beginning November 17, 2014, trade reports for all OTC Equity Securities (OTCBB; other-OTC) must be routed to FINRA’s ORF system and not Nasdaq’s ACT system. Reports for OTC Equity Securities reported to ACT will be rejected, and NMS securities reported to ORF will be rejected.

Reference Data

Access to OTC equity reference data files, which includes the security master file and the OTC Equities Daily List, will no longer be available via FTP. The FINRA ORF

will support queries for all OTC equities reference data files. An must be executed and on file with FINRA in order to have access to the FINRA ORF API.

ORF Trade Journals

Clearing firms and correspondents can access daily trade journals containing their transaction activity via FINRA ADDS. Files are available for request on the FINRA ADDS website each morning for the prior day’s trading activity. Firms interested in retrieving the data via SFTP can enroll in the ORF Data Delivery SFTP service. For information on accessing FINRA ADDS, see www.finra.org/datadelivery, or email Data Delivery.

OTCBB.com

The OTCBB.com website will be retired as of November 17, 2014. Information currently available on OTCBB.com, including OTC equities market statistics and the OTC Equities Daily List, will be listed on the FINRA.org website.

Reg SHO Threshold List

Effective Monday, November 17, 2014, the Regulation SHO Threshold List for OTC Equities (i.e. OTCBB and Other OTC) will no longer be available on NasdaqTrader.com. Beginning November 17, 2014, it will be available only via the OTC Reporting Facility (ORF) pages on FINRA.org.

Trade Data Dissemination

OTC equity transaction data will be disseminated via a new data feed,

. As of COB on November 14, 2014, the legacy TDDS will be shut down. The ports and IP addresses for the new TDDS 2.0 data feed are:

Multicast Group

Class D Multicast Address

Port

Source IP Address

Primary Group

224.3.0.10

55378

206.200.5.10

Secondary Group

224.3.0.20

55379

206.200.6.20

Contacts:

Issue/Question

Contact

TRAQS browser access; setup or functionality; TRACE for ORF Order Form; API access ; Agreements

FINRA Market Operations

(866) 776-0800

ORF Technical Specifications and system functionality questions

FINRA Product Management

(866) 899-2107

ORF CTCI or FIX connectivity

Nasdaq Technical Services (212) 231-5180 option #1

FINRA ADDS

Data Delivery

ORF Notices Signup to receive e-mail notifications

https://tools.finra.org/email_subscriptions/?lists=otce

ORF Rules Guidance

FINRA Market Regulation (240) 386-5126

Please direct questions concerning this notice via email to FINRA Product Management or call (866) 899-2107.