Frequently Asked Questions about ABS Dissemination
- Q: If I am an existing subscriber or vendor of the SPDS (Structured Products Dissemination Service) will I automatically receive the new ABS data set on June 1, 2015?
A: Existing subscribers or vendors of SPDS will automatically receive disseminated transactions in publicly traded ABS. No changes to the vendor agreement are required. Please note: Rule 144A ABS transactions will be disseminated over the SPDS144A feed, which requires a subscription to the 144A data set.
However, all feed recipients need to implement the layout changes outlined in the recently updated Technical Specifications to avoid data corruption or loss.
- Q: My firm currently subscribes to the 144A data set and receives the BTDS144A data feed. Will I automatically receive the SPDS 144A data feed? Will it be delivered via the same connection?
A: Subscribers to the 144A data set will automatically be entitled to receive the SPDS144A feed. However, the SPDS144A data feed will be delivered via a separate and unique IP address as outlined in the SPDS144A technical requirements document.
- Q: My firm is an existing vendor and/or subscriber of SPDS and/or 144A data sets. Am I required to submit any legal paperwork to FINRA to obtain ABS data?
A: No additional paperwork is required. To receive all ABS transactions, however, a subscription is required to both product groups.
- Q: Is there an additional charge for the ABS data set?
A: No, there is no additional charge for existing SPDS and 144A vendors and/or subscribers.
- Q: I do not currently subscribe to the SPDS feed. Do I need to make any changes?
A: The message layouts for all TRACE data feeds are changing. If you are receiving any of the TRACE feeds (BTDS, ATDS, BTDS 144A, SPDS), these changes, outlined in the updated technical specifications documents, need to be accommodated to continue receiving TRACE data.
- Q: What will be the reporting time frame for CBOs, CDOs, CFOs, CLOs and CMBS, which are currently in the ABS sub product?
A: CBOs, CDOs, CFOs, CLOs and CMBS currently in the ABS sub product will be moved to a new ABSX sub product. Transactions in an ABSX security shall continue to be generally reported the same day as outlined in FINRA Rule 6730(a)(3)(A).