Technical Notice

Testing TRACE and ORF CTCI Cancel Validations

May 23, 2017

Beginning Monday, June 26, 2017, FINRA will require Over The Counter Reporting Facility (ORF), and TRACE Corporate and Agency (CA) and Securitized Products (SP) clients using CTCI protocols to include a Reporting Party Identifier (RPID) on all cancellation transactions sent for previously reported trades. The new validation for TRACE for Treasuries (TS) will be implemented on July 10, 2017. The MPID field (ORF CTCI position 54 – 57; TRACE CTCI position 63-66) will now be a required field on all Cancels even if only the transaction control number is being referenced to cancel a transaction.

Testing for this change will be available weekdays beginning Tuesday, May 30, 2017, from 8:00 a.m. ET through 6:30 p.m. ET in the Nasdaq Test Facility (NTF).  

CTCI firms are also invited to test this change during two production User Acceptance Tests (UAT) on Saturday, June 3, 2017, and Saturday, June 17, 2017.  

The Saturday tests will run from 9 a.m. ET until 12 p.m. ET and firms should connect to their production systems to participate in these UATs. Interested firms should register for the UATs by contacting FINRA Product Management or call (866) 899-2107 no later than the Thursday leading up to each test. 

Questions regarding this notice should be directed to FINRA Product Management or call (866) 899-2107.