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Technical Notice

Final Reminder - TRACE Portfolio Trades and TRACE Treasuries Reporting Timeframe

May 08, 2023

Beginning May 15, 2023, the following FINRA TRACE rules changes will take effect:

  1. Members must report transactions in TRACE-eligible Corporate debt securities which are part of a portfolio trade with an appropriate modifier. The Sale Condition 4 modifier, available via the TRAQS secure web browser and the TRACE FIX protocol (Tag 22004), will be available for this designation, as described in Regulatory Notice 22-12.

    The TRAQS User Guide, TRACE FIXTRACE ATDS, BTDS, and BTDS-144A vendor specifications have been updated to recognize the change for Corporate securities.

  2. FINRA will reduce the timeframe for reporting transactions in Treasuries securities to TRACE as described in Regulatory Notice 22-27.

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