TRACE SPDS Specification

On November 5, 2012, FINRA will release the Securitized Products Dissemination ServiceTM (SPDSTM). The SPDS data feed will be used to broadcast last sale price and other relevant trade data to authorized market data vendors for TRACE-eligible asset-backed, securities (collectively known as securitized products). As the transactions are entered into TRACE, FINRA will automatically generate data messages to be disseminated real-time on SPDS.
This document defines the communications interface and message format requirements for the output from SPDS. All references to a time of day in this specification are in Eastern Time.