ORF Announcements

Posted: May 18, 2015

Holiday Reminder Regarding ORF Market Data

In observance of Memorial Day, the ORF System will be closed on Monday, May 25, 2015. As stated in the data feed interface specifications, FINRA may send out unmarked test data via its data feeds on market holidays. Direct data feed subscribers, including recipients of the Trade Data Dissemination Service 2.0 (TDDS 2.0) and Bulletin Board Dissemination Service (BBDS) feed(s)  should take the necessary precautions to prevent data corruption. Thank you for your attention to this matter. Please contact FINRA Operations at (866) 776-0800 if you have any questions.


Posted: March 27, 2015

Holiday Reminder Regarding ORF Market Data

In observance of Good Friday, the ORF System will be closed on Friday, April 3, 2015. As stated in the data feed interface specifications, FINRA may send out unmarked test data via its data feeds on market holidays. Direct data feed subscribers, including recipients of the Trade Data Dissemination Service 2.0 (TDDS 2.0) and Bulletin Board Dissemination Service (BBDS) feed(s) should take the necessary precautions to prevent data corruption. Thank you for your attention to this matter. Please contact FINRA Operations at (866) 776-0800 if you have any questions.


Posted: March 20, 2015

FINRA Updates the OTCBB/OTC Equities High Price Dissemination List

FINRA is publishing its quarterly OTCBB/OTC Equities High Price Dissemination List for the fourth quarter of 2014. This updated list of OTC equity securities eligible for trade report dissemination for trades of fewer than 100 shares is effective as of March 20, 2015. To view changes, visit the Daily List: Security Attribute Changes page, select the "Unit of Trades" filter and enter March 19, 2015, as the "Start" date and March 20, 2015, as the "End" date.

As discussed in the FINRA March 18, 2008, Trade Reporting Notice, for all OTC equity securities that trade at or above $175.00, transactions of fewer than 100 shares are no longer considered "odd-lot" transactions for dissemination purposes. Instead, FINRA has designated the unit of trade for these securities as 1, and FINRA disseminates last sale information for all transactions of one or more shares in such securities. FINRA reviews trading activity quarterly to determine whether additional OTC equity securities meet the stated dissemination criteria.

If you have questions, contact FINRA Operations at (866) 776-0800 or finraoperations@finra.org.


Posted: March 20, 2015

OTC Equities Market Statistics

FINRA has corrected the OTC Equities Market Statistics data from the November 17, 2014 migration date of the OTC Reporting Facility (ORF) through February 2015. An error was found in the calculation of the Market Statistics which has been corrected and will be applied both retroactively and going forward. Please contact FINRA Market Operations at (866) 776-0800 if you have any questions.


Posted: March 13, 2015

OTC Trade Reporting Maximum Volume Per Transaction

FINRA reminds firms that the OTC Reporting Facility (ORF) allows an eight-byte maximum of 99,999,999 (excluding the commas) shares to be reported for individual trade, trade correction and trade reversal transactions. This maximum size is enforced for all ORF trade reporting protocols (FIX, CTCI, TRAQS). Trades involving a quantity greater than 99,999,999 must be broken into multiple trade reports when reporting ORF transactions to FINRA. Please contact FINRA Market Operations at (866) 776-0800 if you have any questions.


Posted: February 9, 2015

Holiday Reminder Regarding ORF Market Data

In observance of President’s Day, the ORF System will be closed on Monday, February 16, 2015. As stated in the data feed interface specifications, FINRA may send out unmarked test data via its data feeds on market holidays. Direct data feed subscribers, including recipients of the Trade Data Dissemination Service 2.0 (TDDS 2.0) and Bulletin Board Dissemination Service (BBDS) feed(s) should take the necessary precautions to prevent data corruption. Thank you for your attention to this matter. Please contact FINRA Operations at (866) 776-0800 if you have any questions.


Posted: January 12, 2015

Holiday Reminder Regarding ORF Market Data

In observance of Martin Luther King Day, the ORF System will be closed on Monday, January 19, 2015. As stated in the data feed interface specifications, FINRA may send out unmarked test data via its data feeds on market holidays. Direct data feed subscribers, including recipients of the Trade Data Dissemination Service 2.0 (TDDS 2.0) and Bulletin Board Dissemination Service (BBDS) feed(s) should take the necessary precautions to prevent data corruption. Thank you for your attention to this matter. Please contact FINRA Operations at (866) 776-0800 if you have any questions.


Posted: December 18, 2014

Holiday Reminder Regarding ORF Market Data

In observance of Christmas, the ORF System will be closed on Thursday, December 25, 2014. As stated in the data feed interface specifications, FINRA may send out unmarked test data via its data feeds on market holidays. Direct data feed subscribers, including recipients of the Trade Data Dissemination Service 2.0 (TDDS 2.0) and Bulletin Board Dissemination Service (BBDS) feed(s) should take the necessary precautions to prevent data corruption.
 
Please be advised that the ORF system will close early on Wednesday, December 24, 2014 at 1 p.m., E.T. See the table below for a schedule of modified hours. Thank you for your attention to this matter. Please contact FINRA Operations at (866) 776-0800 if you have any questions.

Market Session Normal Hours Modified Hours for
Wednesday, December 24, 2014
Pre Market Session 8 a.m. to 9:30 a.m. 8 a.m. to 9:30 a.m.
Regular Market Session 9:30 a.m. to 4:00 p.m. 9:30 a.m. to 1:00 p.m.
Post-Market Trading Session 4 p.m. to 8:00 p.m. 1 p.m. to 5:00 p.m.

In observance of New Year's Day, the ORF System will be closed on Thursday, January 1, 2015. As stated in the data feed interface specifications, FINRA may send out unmarked test data via its data feeds on market holidays. Direct data feed subscribers, including recipients of the Trade Data Dissemination Service 2.0 (TDDS 2.0) and Bulletin Board Dissemination Service (BBDS) feed(s) should take the necessary precautions to prevent data corruption. Thank you for your attention to this matter. Please contact FINRA Operations at (866) 776-0800 if you have any questions.