Skip to main content
Technical Notice


November 04, 2022

On January 31, 2022, FINRA introduced the Participant Data Management System (“PDM”) which firms now use to manage access to the FINRA trade reporting facilities, including TRACE, ORF and ADF. PDM also allows firms to add, view, and modify users of the TRAQS web interface. Firms are strongly encouraged to use PDM to review their TRAQS users on a regular basis to ensure that accounts remain valid, and to remove invalid or inactive users, as needed, to prevent unnecessary user fees.

For more information about applicable user fees, see web browser access charges for ADF, TRACE, and ORF. More information about accessing and navigating PDM can be found on the Participant Data Management page.

Send questions regarding this notice to FINRA Market Operations or call (866) 776 -0800, option 2.