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Technical Notice

TRACE Depository Institution Reporting

August 02, 2022

As announced by the Board of the Federal Reserve System in the Federal Register on October 28, 2021, FINRA will collect detailed data on depository institutions' daily transactions of marketable U.S. Treasury securities and of the debt and MBS issued by U.S. federal government agencies including government-sponsored enterprises (agencies) via its Trade Reporting and Compliance Engine (TRACE).

The effective date for this program is Thursday, September 1, 2022.

FINRA has updated its dedicated web page to include the TRACE subproducts each participant is expected to report TRACE transactions for, and has also provided a webinar recording of the July 12, 2022 Industry call which focused on Depository Banks TRACE reporting.

At this time, FINRA urges clients to ensure steps one through six in the project checklist (located on the web page) are attended to as soon as possible. Lastly, firms are encouraged to utilize the test facility (NTF) to validate transactions to TRACE prior to the effective date.

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