OATS Report - November 26, 2001

November 26, 2001

Firms that transmit order data to OATS via FTP or via CONNECT:Direct should consider the option of retrieving and resubmitting their rejected data via that same medium rather than by accessing them via the Web. The NASD has established this feature to make the retrieval and resubmission of large volumes of rejected data easier and less time-consuming. This is the preferable method of reviewing and resubmitting rejections for Order Sending Organizations (OSOs) with over 100 Reportable Order Event (ROE) rejections.

Firms would simply need to retrieve their reject files via FTP/CONNECT:Direct, make the proper corrections to the rejections, package the rejections into a new FORE file, reset the Rejected ROE Resubmit Flag, and transmit the file to OATS via FTP/CONNECT:Direct.

Keep in mind that only the firm designated an FTP/CONNECT:Direct user may retrieve ROE rejections. Although some OSOs may have more than one FTP/CONNECT: Direct User, only one of the FTP/CONNECT:Direct users may retrieve ROE rejections via FTP/CONNECT:Direct. This user must be designated by the OSO in the User Details window in OSO Admin by selecting the checkbox next to User to Receive Rejection Report. For additional information, refer to Chapter 3, "To Edit User Information," in the OATS Subscriber Manual.

OATS generates one rejection report for all FOREs sent by an OSO on a single OATS Reporting Day. If the ROE rejections exceed the file size limit of 4 MB, OATS creates as many continuation files as necessary. For example, if a firm has 8 MB of rejection data, OATS will create two rejection files. ROE rejection text files are formatted according to the description in Appendix C, "Order Report Formats," in the OATS Reporting Technical Specifications.

To retrieve the rejection information via FTP and CONNECT:Direct refer to Chapter 5, "Retrieving ROE Rejections Via FTP and CONNECT:Direct," in the OATS Subscriber Manual.

If you have any questions regarding this topic or on OATS in general, please contact the NASD Gateway Business Applications Support Help Desk at (800) 321-NASD.