Technical Notice

Reminder: Additional TRACE and ORF CTCI Validation Required on Trade Cancels

June 21, 2017

Beginning Monday, June 26, 2017, FINRA will require OTC 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 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. 

Note that this impacts CTCI only, as FIX and TRAQS protocols currently require the RPID field to be included in any trade cancel message to FINRA.    

Please contact FINRA Product Management or call (866) 899-2107 with any questions regarding this notice.