TRACE ATDS Specification

FINRA’s Agency Debt Trade Dissemination Service^TM (ATDS^TM) broadcasts last sale price and other relevant trade data to authorized market data vendors for US dollar-denominated Debt securities that are issued or guaranteed by an Agency or by a Government-Sponsored Enterprise, and are TRACE-eligible. As the transactions are entered into TRACE, FINRA will automatically generate data messages to be disseminated real-time on ATDS.

This document defines the communications interface and message format requirements for the output from ATDS. All references to a time of day in this specification are in Eastern Time.