Updated Native FIX TRACE FIX Specifications for Securitized Products

FINRA has updated the Current v2.0a and Future (Effective June 8, 2026) v2.1a Native FIX TRACE FIX Specifications for Securitized Products. 

• Added a note to the inbound Trade Capture Report message in Tag 228 (Factor) indicating that spaces are not allowed.
• Removed the Execution Time (Tag 22007) section from Timestamps and Dates.

For more details regarding the TRACE Transition to Native FIX, please see the most recent March 06, 2026 Technical Notice. For an overview of previous updates to TRACE products applicable to Native FIX reporting only including Securitized Products, please see the December 22, 2025 Technical Notice. 

Please contact FINRA Client & System Management  with questions regarding this notice.