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Technical Notice

Reminder - Transparency Services Initiatives

November 23, 2020

Earlier this year, FINRA introduced its Transparency Services Infrastructure Initiatives project and created a web page detailing this effort.   Items highlighted on this web page include an infrastructure upgrade to the existing TRACE Trade Reporting system web application (TRAQS), a new web application for Issue Management, and enhanced Reference Data tools including firm access to manage their own entitlement. FINRA Continues the work on these initiatives and encourages firms to review the information on our FINRA.org page.

The ongoing enhancements are:

Technical Infrastructure

FINRA is constructing a new platform, designed on a Linux-Based Operating System, to support its trade reporting interfaces.  The platform will utilize secure Cloud-Based technology for resilience and redundancy. The first phase of design for this platform is to use a new Multi Factor Entitlement (MFA) access method to the TRAQS website, and to have the TRAQS software reside on the new platform.  Firms have been invited to test both MFA and the new infrastructure in the test facility.  The current date for production implementation of this phase is Monday, January 25, 2021. 

Issue Management:

Firms utilize the FINRA New Issue Form to comply with FINRA TRACE Rules 6760 (Underwriter Obligation to Provide Notice) and 6730 (Transaction Reporting) and to request an OTC symbol in support of compliance with FINRA ORF Rule 6622 (Transaction Reporting).The Issue Management redesign, which went live on September 28. 2020, improved the FINRA New Issue Form interface and functionality.  

Access to API Reference Data:

Currently, FINRA API users are required to download a digital certificate and present verified user id and password credentials to access API reference data.  FINRA plans to replace the use of a digital certificate for access to the API with MFA in the second quarter of 2021.  This effort will include manual and machine-based (automated) access to the files.    

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