Technical Notice

BTDS Bandwidth Modification

March 2, 2012

Beginning Monday April 2, 2012, FINRA will increase the bandwidth rate for the Bond Trade Dissemination Service (BTDS) vendor feed from 56 kilobits per second (kbps) to 336 kbps. The increase will ensure that TRACE corporate trade reporting data is distributed on a timely basis. Note, there is no change at this time to the Agency Debt Trade Dissemination Service (ATDS) bandwidth rate. ATDS will remain at 56 kbps.

To prepare for the change, FINRA will offer testing of the new bandwidth rate on Saturday, March 17, 2012, from 10 a.m., Eastern Time (ET) to 11:30 a.m., ET, and on Saturday, March 24, 2012, from 10 a.m., ET to 11:30 a.m., ET. The test data will include TRACE corporate transaction data and will be published over the BTDS production IP addresses and ports via the primary group addresses only.

BTDS subscribers are encouraged to participate in at least one of the tests in order to ensure their systems can accept the higher data rates. BTDS subscribers participating in any of the tests should ensure their network provider is successfully processing the feed during the test. If a network provider has confirmed successful connectivity during the test but there is still a problem with data receipt, please contact the NASDAQ OMX Command Center at (203) 926-3400.

The data rate change and testing opportunity does not impact any of the TRACE reporting applications (CTCI, FIX and Web) and there is no requirement for firms to submit trade reports for the test.

Version 3.2 of the TRACE BTDS specification, which includes the change to the bandwidth, is currently available on the FINRA website.
Please direct questions and comments regarding this notice to FINRA Product Management or call (866) 899-2107.