TRACE System Modification To Enable Processing of Trade Reports Older Than A Year

Please be advised NASD will be making a system modification to the TRACE System to support processing of reports from transactions with Execution Dates that occurred more than a year prior to the date the report is made. Currently, the TRACE System can only process submitted and corrected trade reports executed between T-day (current day) and T+365 days (trade reports and corrections of T+1…365 are submitted as As-of and Reversal reports). This TRACE System modification will allow submission of As-of and Reversal reports with an Execution Date beyond T+365, to TRACE inception on July 1, 2002.

Impact to TRACE Reporting Participants
  • The change will be supported in both CTCI and TRACE Web reporting. The DTCC's RTTM system cannot accept reports older than 365 days from the execution date at this time.
  • For CTCI and Web users, No/Was and Cancels can be applied to same- day trade reports of executions older than T+365.
Impact to Data Vendors Receiving BTDS Feed
  • As is the case with currently submitted As-of and Reversal trade reports, public transactions older than T+365 shall be eligible for dissemination pursuant to current TRACE Rule 6250.
  • There will be no format changes to the BTDS Bond Trade (Category T) Messages. Vendors are advised to expect to receive Execution Dates that may date as far back as 07012002 (July 1, 2002).
  • Trade reporting and dissemination may occur occasionally on bonds that have been inactive for over a year (e.g., bonds that matured, or were called or converted, etc.). Vendors maintaining TRACE data history may want to retain a historical issue master for processing and storing these reports.
This TRACE System modification will become effective Monday, June 4th 2007.

Any questions regarding this modification should be directed to Orlando Cortes at (212) 858-5143.