ROE Rejection Feedback
Beginning October 17, 2011 with the implementation of the OATS for all NMS Stocks release in OATS Production, firms will receive feedback related to ROE rejections as per the following:
- Syntax and semantics rejections will be available within four hours of receipt of an accepted FORE status message.
- Context rejections will be available no later than 24 hours after the OATS reporting deadline.1
- Firms will have five business days from the date when context rejections are made available to repair both syntax/semantics and context rejections.
- Rejections not requiring repair, as determined by FINRA, will be provided back to firms in summary only. If a firm would like to obtain the detail data for unrepairable rejections, it may contact the OATS Business Support Helpdesk to obtain this data after October 17, 2011.
- For all transmission types, as soon as a firm receives rejections back from FINRA, it may immediately begin re-submitting repairs.
- Refer to Appendix C of the OATS Reporting Technical Specifications for additional information related to ROE Rejection files.
Syntax and Semantics Rejections
For each field in the ROE, the OATS syntax and semantics validation process determines if the format and length are correct, valid values are used, and required fields are populated. Syntax and semantics rejections will be available within four hours of receipt of an accepted FORE status message. The following rules apply:
|FTP, SFTP, or IFT|
The OATS context validation process compares a ROE against previously received ROEs to identify duplicates or secondary events without an originating event. Context rejections will be available no later than 24 hours after the OATS reporting deadline. The following rules apply:
|FTP, SFTP, or IFT|
1 If an order is received prior to market close on Monday, October 17, the data is due to OATS by Tuesday, October 18 at 8 a.m. OATS will have context rejections to firms by Wednesday, October 19 at 8 a.m.