OATS Technical Specifications
The OATS Reporting Technical Specifications document covers the requirements and procedures for clock synchronization; system access requirements for supplying OATS files to FINRA; order reporting scenarios that describe, from a business perspective, responsibilities for reporting to OATS; details regarding the required layout of OATS files; procedures for providing corrections to OATS data and for receiving feedback from FINRA; and the procedures for registration, self-administration, and testing and certification. It also contains a data dictionary that describes all of the data elements in OATS files; a list of report formats, including field names, data types, and lists of permissible values; examples of order reports; and a glossary. The OATS Reporting Technical Specifications is not intended to provide information about how to develop an electronic system that reports order information; it is only intended to describe what such a system must deliver to FINRA.
FINRA released a new edition that applies only to Reporting Members that operate a Trading Center under the Plan to Implement a Tick Size Pilot Program (“Plan”) and whose Designated Examining Authority (“DEA”) is FINRA that will be required to submit data pursuant to Items I and II of Appendix B of the Plan (“Tick Size Pilot Members”). FINRA has also published a new OATS Report to provide additional guidance related to the proposed changes for Tick Size Pilot Members. View this report.
View OATS Reporting Technical Specifications (10/12/2015 edition) (PDF 1.41 MB)
UPDATE November 18, 2015: In light of the SEC’s order exempting FINRA and the other SROs from implementing the Tick Size Pilot until October 3, 2016, and the resulting delay in the data collection start date until April 4, 2016, FINRA has moved the CT and Production dates for the OATS Tick Size changes until February 22, 2016 and April 4, 2016, respectively. The October 12, 2015 edition of the OATS Reporting Technical Specifications has been updated to reflect these new dates.
The changes in the October 12, 2015 edition do not apply to members that do not operate a Trading Center under the Plan or for whom FINRA is not the DEA; therefore such members are not required to make any of the changes that appear in the October 12, 2015 edition of the OATS Reporting Technical Specifications.
View our archive of past specifications.
If you are having problems accessing these files, please contact FINRA Business and Technology Support Services at 1-800-321-6273.