ORF Clearing Messages
Since Monday, December 5, 2022, FINRA is experiencing an issue with ORF clearing messages for transactions that are cancelled, corrected or broken and thus causing duplicates settlement for those transactions. FINRA is working on a solution and will update clients as more details are known.
Clients should work with their clearing firm to submit reversals directly to NSCC for the duplicate settlement. FINRA will advise when the issue will be implemented and this step will no longer be necessary.
Contact FINRA Market Operations with questions regarding this notice.