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Technical Notice

Update - TRACE for Treasuries Re-platform

February 23, 2024

As part of its Transparency Services improvement initiative, FINRA will re-platform the TRACE for Treasuries (TS) product to a new Linux-based operating system. FINRA will implement this change on Monday, March 11, 2024; previously it was scheduled for February 26, 2024. Clients may continue to test in NTF through Friday, March 8, 2024.

NTF: Available through Friday, March 8, 2024




PDM Test Environment

Use this link to complete the FPA, manage TRAQS users and agreements for the NTF environment of MPP. 

Note: The production FINRA Gateway login is used to access this site.

TRAQS Test Environment


FIX Test Environment



Users must connect to their dedicated FIX NTF ports
API access to Test Environment 

Current, active, TRACE users may test free of charge in NTF for 30 calendar days. New TRACE users who have never accessed the NTF system will receive 60 days of free testing. 

All users must notify [email protected] at the commencement of their testing. Once a user informs the NASDAQ test team, the testing free period will continue uninterrupted for 30 (60) calendar days. After the 30 (60)-day period ends, normal NTF fees will apply for connecting and testing. Questions regarding NTF fees can be directed to Nasdaq Technical Services at (212) 231-5180.

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