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Technical Notice

TRACE Foreign Sovereign Debt and US Treasuries User Acceptance Test

September 26, 2023

Beginning Monday, November 6, 2023, as described in Regulatory Notice 22-28, FINRA will require firms to report transactions in U.S. dollar-denominated foreign sovereign debt securities to TRACE.

In addition, beginning November 6, 2023, as described in Regulatory Notice 22-27, the requirements for granularity of execution timestamps for TRACE Treasuries transactions will go into effect. FINRA is also revising its guidance to standardize the price format used for reporting transactions in Treasury bills and Floating Rate Notes (FRN’s) by requiring all transactions after the auction date of the security to be reported using the dollar price.

FINRA will sponsor the final production User Acceptance Test (UAT) on Saturday, October 7, 2023 from 9:30 a.m. to 12:00 p.m. ET. Clients who wish to participate in these tests MUST register with FINRA Market Operations or at 866.776.0800 no later than noon on Thursday, October 5, 2023.

The conference line listed below will be open for the duration of the test. Due to a limited number of lines, firms should consider sharing the line if calling from the same location.

Saturday, October 7, 2023; 9:30 a.m. – 12:00 p.m. ET
Dial-in: (800) 519-4276
Passcode: 8584438

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