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Technical Notice

TRACE for Treasuries Re-platform

November 08, 2023

As part of its Transparency Services improvement initiative, beginning on February 26, 2024, FINRA will re-platform the TRACE for Treasuries (TS) product to a new Linux-based operating system. This project does not require client changes to be made.

FINRA and its technology vendor are currently testing the new TS platform to confirm systemic validations and processes, including trade reporting, TRAQS scans, FIX messages, and API reference data.  These components will remain as currently designed; therefore, it is not expected that clients will see any material differences from the legacy TS platform.

FINRA values client engagement and testing and encourages participation in this effort to validate that all processes work within clients’ TRACE reporting framework. Testing your current TRACE for Treasuries processes and trade report validations are strongly recommended.  

NTF: Monday, November 13, 2023, through Friday, February 23, 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 EnvironmentN/AUsers 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.

FINRA will issue details of production user acceptance tests in the near future.

Please contact [email protected] or call (866) 899-2107 with questions regarding this notice.