Technical Notice

Reminder: Trade Reporting and T+2 Settlement

August 30, 2017

On Tuesday, September 5, 2017, in accordance with the industry-led shortened settlement cycle from three business days (T+3) to two business days (T+2), FINRA will implement its changes for equity trade reporting. Please refer to Regulatory Notice 16-09 and SR-FINRA-2016-047 for more information on the changes for the trade reporting related to the shortened settlement cycle.

Details on the FINRA product changes are outlined below.

ORF and ADF Trade Reporting Changes/Specifications

  1. Updated Trade Modifier 1 definition of Regular
  2. Updated Seller’s Option Days definition and valid values

ADDS Changes/Specification

  1. Updated Seller Days definition and valid values

    ADDS User Guide

Questions regarding this notice or any of the equity trade reporting technical changes should be directed to FINRA Product Management at (866) 899-2107.