Holiday Reminder Regarding TRACE Market Data
In observance of Christmas, the TRACE system will be closed on Thursday, December 25, 2025. As stated in the data feed interface specifications, FINRA may send out unmarked test data via its data feeds on market holidays. Direct data feed subscribers, including recipients of TRACE data via the Bond Trading Dissemination Service (BTDS), Agency Trading Dissemination Service (ATDS), Securitized Products Dissemination Services (SPDS) and/or 144A Trade Dissemination Services (144A) feed(s) should take the necessary precautions to prevent data corruption.
Please be advised that the TRACE system will close early on Wednesday, December 24, 2025. See the table below for a schedule of modified hours (these hours also apply to BTDS/ATDS/SPDS/144A). Thank you for your attention to this matter. Please contact FINRA Operations at (866) 776-0800 if you have any questions.
| Market Session | Normal Hours | Modified Hours for Wednesday, December 24, 2025 |
|---|---|---|
| Regular Market Session | 8 a.m. to 5:15 p.m. | 8 a.m. to 1 p.m. |
| Post-Market Trading Session | 5:15 p.m. to 6:30 p.m. | 1 p.m. to 3:30 p.m. |
In observance of New Year’s Day, the TRACE system will be closed on Thursday, January 1, 2026. As stated in the data feed interface specifications, FINRA may send out unmarked test data via its data feeds on market holidays. Direct data feed subscribers, including recipients of TRACE data via the Bond Trading Dissemination Service (BTDS), Agency Trading Dissemination Service (ATDS), Securitized Products Dissemination Services (SPDS) and/or 144A Trade Dissemination Services (144A) feed(s) should take the necessary precautions to prevent data corruption. Thank you for your attention to this matter. Please contact FINRA Operations at (866) 776-0800 if you have any questions.