FINRA and ISG Announce the Update of Blue Sheet Data Elements and Repositioning of Exchange Code Field
Summary
FINRA and the other U.S. members of the Intermarket Surveillance Group1 (ISG members) are enhancing the Electronic Blue Sheets (EBS) to improve their ability to analyze broker-dealers’ trading activities.
Effective immediately, firms will be required to update certain data elements for EBS to reflect the SEC’s May 10, 2019, and May 4, 2020, approvals of Long Term Stock Exchange and Members Exchange, respectively, and to reserve certain data elements for MIAX PEARL Equities and Boston Security Token Exchange. Attachment A to this Notice sets forth the modifications to the EBS record layout and changes from the version previously published in FINRA Regulatory Notice 19-33.
Effective November 30, 2020, firms will be required to move the Exchange Code field and its values to another position within the EBS record layout. Attachment A to this Notice sets forth the change to the EBS record layout and changes from the version previously published in FINRA Regulatory Notice 19-33.
Questions concerning the EBS enhancements should be directed to this email.
Discussion
Updates of Blue Sheet Data Elements
FINRA and the other ISG members have updated certain data elements for EBS to reflect the SEC’s approvals of Long Term Stock Exchange and Members Exchange, and to reserve certain data elements for MIAX PEARL Equities and Boston Security Token Exchange. The updates are effective immediately.
Attachment A to this Notice sets forth the EBS record layout and reflects the modifications noted below for the Requestor Code field and Exchange Code field (in its current position of Record Sequence Number One, Position 79 to 79); and changes from the version previously published in Regulatory Notice 19-33.
The following Requestor Codes were updated:
- Add Requestor Code “4” with value of “Members Exchange.”
- Add Requestor Code “5” with value of “Long Term Stock Exchange.”
- Add Requestor Code “6” with value of “Boston Security Token Exchange.”
Note: Requestor Code “7” is the “MIAX Exchange Group” and will represent the consortium of the “Miami International Securities Exchange,” “MIAX PEARL,” “MIAX Emerald” and “MIAX PEARL Equities.”
The following Exchange Codes were updated:
- Add Exchange Code “4” with value of “Members Exchange.”
- Add Exchange Code “5” with value of “Long Term Stock Exchange.”
- Add Exchange Code “6” with value of “Boston Security Token Exchange.”
- Change Exchange Code “8” from “MIAX PEARL” to “MIAX PEARL and MIAX PEARL Equities.”
Repositioning of Exchange Code Field
The Exchange Code field currently occupies the position of Record Sequence Number One, Position 79 to 79. However, the current position provides no further ability for possible expansion. In order to accommodate for any future growth, FINRA and the other ISG members are requiring firms to move the Exchange Code field and its values from Record Sequence Number One, Position 79 to 79 to Record Sequence Number Six, Positon 31 to 36. The updates must be implemented by November 30, 2020.
- Change from Exchange Code, Record Sequence Number One, Field Position 79 to 79.
Change to Filler, Record Sequence Number One, Field Position 79 to 79.
Note: The Filler or the “old” Exchange Code position should no longer be populated with any Exchange Code values.
- Change from Filler, Record Sequence Number Six, Field Position 31 to 80.
Change to Exchange Code, Record Sequence Number Six, Field Position 31 to 36 and Filler, Record Sequence Number Six, Field Position 37 to 80.
Note: The “new” Exchange Code position should be populated with the Exchange Code values.
FINRA highly recommends testing these changes in the test environment prior to November 30, 2020. For any technical questions, please contact the Gateway Business Application Support (GBAS) at (800) 321-6273 or email.
Firms are reminded that failure to properly fill out the EBS fields is a violation of FINRA Rule 8211 or 8213.
Attachment A
Record Layout for Submission of Trading Information
Field Position | Field Length | Field Name/Description/Remarks | Field Format | Justify | Picture Clause | Default Value | |
---|---|---|---|---|---|---|---|
From | To | ||||||
***This record must be the first record of the file*** | |||||||
1 |
3 |
3 |
FILLER |
A |
LJ |
X(3) |
HDR |
4 |
5 |
2 |
FILLER |
A |
LJ |
X(2) |
.S |
6 |
10 |
5 |
DTRK-SYSID |
N |
LJ |
9(5) |
12343 |
11 |
12 |
2 |
FILLER |
A |
LJ |
X(2) |
.E |
13 |
14 |
2 |
FILLER |
N |
LJ |
9(2) |
00 |
15 |
16 |
2 |
FILLER |
A |
LJ |
X(2) |
.C |
17 |
20 |
4 |
DTRK-ORIGINATOR |
A |
LJ |
X(4) |
-- |
21 |
22 |
2 |
FILLER |
A |
LJ |
X(2) |
.S |
23 |
26 |
4 |
DTRK-SUB-ORIGINATOR |
A |
LJ |
X(4) |
-- |
27 |
27 |
1 |
FILLER |
A |
LJ |
X(1) |
B |
28 |
33 |
6 |
DTRK-DATE |
N |
LJ |
9(6) |
MMDDYY |
34 |
34 |
1 |
FILLER |
A |
LJ |
X(1) |
B |
35 |
59 |
25 |
DTRK-DESCRIPTION |
A |
LJ |
X(25) |
FIRM TRADING INFORMATION |
60 |
80 |
21 |
FILLER |
A |
LJ |
X(21) |
B |
1 |
1 |
1 |
HEADER RECORD CODE |
A |
-- |
X |
-- |
2 |
5 |
4 |
SUBMITTING BROKER NUMBER |
A–R |
LJ |
X(4) |
B |
6 |
40 |
35 |
FIRM'S REQUEST NUMBER |
A |
-- |
X(35) |
B |
41 |
46 |
6 |
FILE CREATION DATE |
A |
-- |
X(6) |
-- |
47 |
54 |
8 |
FILE CREATION TIME |
A |
-- |
X(8) |
-- |
55 |
55 |
1 |
REQUESTOR CODE |
A |
-- |
X |
-- |
|
|
|
A = New York Stock Exchange |
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|
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|
B = NYSE American, LLC |
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C = NYSE Chicago, Inc. |
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|
D = The Nasdaq Stock Market, LLC |
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E = NYSE Arca |
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F = Nasdaq BX, Inc. |
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G = NYSE National, Inc. |
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H = Cboe BZX Exchange, Inc. (Equity and Options) |
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I = Nasdaq ISE, LLC, Nasdaq GEMX, LLC, Nasdaq MRX, LLC |
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J = Cboe EDGA Exchange, Inc. and Cboe EDGX Exchange, Inc. (Equity and Options) |
|||||||
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K = Cboe Exchange, Inc. and Cboe C2 Exchange, Inc. |
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R = FINRA |
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U = BOX Options Exchange, LLC |
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X = U.S. Securities and Exchange Commission |
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Y = Cboe BYX Exchange, Inc. |
|
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3 = Investors Exchange, LLC |
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4 = Members Exchange |
|
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5 = Long Term Stock Exchange |
|
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|
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|
6 = Boston Security Token Exchange |
|
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|
7 = MIAX Exchange Group |
|||||||
56 |
70 |
15 |
REQUESTING ORGANIZATION NUMBER |
A |
LJ |
X(15) |
B |
71 |
80 |
10 |
FILLER |
A |
-- |
X(10) |
B |
1 |
1 |
1 |
RECORD SEQUENCE NUMBER ONE |
A |
-- |
X |
-- |
2 |
5 |
4 |
SUBMITTING BROKER NUMBER |
A–R |
LJ |
X(4) |
-- |
6 |
9 |
4 |
OPPOSING BROKER NUMBER |
A–R |
LJ |
X(4) |
B |
10 |
21 |
12 |
CUSIP NUMBER |
A |
LJ |
X(12) |
B |
22 |
29 |
8 |
TICKER SYMBOL |
A–R |
LJ |
X(8) |
B |
30 |
35 |
6 |
TRADE DATE |
A–R |
-- |
X(6) |
B |
36 |
41 |
6 |
SETTLEMENT DATE |
A |
-- |
X(6) |
B |
42 |
53 |
12 |
QUANTITY |
N–R |
RJ |
9(12) |
Z |
54 |
67 |
14 |
NET AMOUNT |
N |
RJ |
S9(12) V99 |
Z |
68 |
68 |
1 |
BUY/SELL CODE |
A–R |
-- |
X |
B |
69 |
78 |
10 |
PRICE |
N–R |
RJ |
9(4)V(6) |
Z |
79 |
79 |
1 |
EXCHANGE CODE |
A–R |
-- |
X |
B |
|
|
|
A = New York Stock Exchange |
|
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|
B = NYSE American, LLC |
|
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C = NYSE Chicago, Inc. |
|
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D = Nasdaq PHLX, LLC |
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E = NYSE Arca |
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F = Nasdaq BX, Inc. |
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G = NYSE National, Inc. |
|
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H = Cboe BZX Exchange, Inc. (Equity and Options) |
|
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I = Nasdaq ISE, LLC (Options Only) |
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J = Cboe C2 Exchange, Inc. |
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K = Cboe Exchange, Inc. |
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L = London Stock Exchange |
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M =Toronto Stock Exchange |
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N = Montreal Stock Exchange |
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O =TSX Venture Exchange |
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P = Cboe EDGA Exchange, Inc. |
|||||||
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Q=FINRA ADF |
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R = The Nasdaq Stock Market, LLC, The Nasdaq Options Market, LLC |
|
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S = Over-the-Counter |
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T = Tokyo Stock Exchange |
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U = BOX Options Exchange, LLC |
|||||||
V = Cboe EDGX Exchange, Inc. (Equity and Options) |
|||||||
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W = For Future Use |
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X = Nasdaq PSX, LLC |
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Y = Cboe BYX Exchange, Inc. |
|||||||
Z = Other |
|||||||
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1 = Nasdaq GEMX, LLC |
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2 = Nasdaq MRX, LLC |
|
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|
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3 = Investors’ Exchange, LLC |
|
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4 = Members Exchange |
|
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|
|
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5 = Long Term Stock Exchange |
|
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6 = Boston Security Token Exchange |
|
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7 = Miami International Securities Exchange |
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8 = MIAX PEARL and MIAX PEARL Equities |
|
|
|
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9 = MIAX Emerald |
|
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|
|
80 |
80 |
1 |
BROKER/DEALER CODE |
A–R |
-- |
X |
B |
1 |
1 |
1 |
RECORD SEQUENCE NUMBER TWO |
A |
-- |
X |
-- |
2 |
2 |
1 |
SOLICITED CODE |
A–R |
-- |
X |
B |
3 |
4 |
2 |
STATE CODE |
A–R |
-- |
X(2) |
B |
5 |
14 |
10 |
ZIP CODE/COUNTRY CODE |
A–R |
LJ |
X(10) |
B |
15 |
22 |
8 |
BRANCH OFFICE/REGISTERED REPRESENTATIVE NUMBER |
A–R |
LJ |
X(8) |
B |
23 |
28 |
6 |
DATE ACCOUNT OPENED |
A–R |
-- |
X(6) |
B |
29 |
48 |
20 |
SHORT NAME FIELD |
A |
LJ |
X(20) |
B |
49 |
78 |
30 |
EMPLOYER NAME |
A |
LJ |
X(30) |
B |
79 |
79 |
1 |
TIN 1 INDICATOR |
A–R |
-- |
X |
B |
80 |
80 |
1 |
TIN 2 INDICATOR |
A |
-- |
X |
B |
1 |
1 |
1 |
RECORD SEQUENCE NUMBER THREE |
A |
-- |
X |
-- |
2 |
10 |
9 |
TIN ONE |
A–R |
LJ |
X(9) |
B |
11 |
19 |
9 |
TIN TWO |
A |
LJ |
X(9) |
B |
20 |
20 |
1 |
NUMBER OF N&A LINES |
A |
-- |
X |
B |
21 |
50 |
30 |
NAME AND ADDRESS LINE ONE |
A–R |
LJ |
X(30) |
B |
51 |
80 |
30 |
NAME AND ADDRESS LINE TWO |
A–R |
LJ |
X(30) |
B |
1 |
1 |
1 |
RECORD SEQUENCE NUMBER FOUR |
A |
-- |
X |
-- |
|
|
|
Value: 4 |
|
|
|
|
2 |
31 |
30 |
NAME AND ADDRESS LINE THREE |
A–R |
LJ |
X(30) |
B |
32 |
61 |
30 |
NAME AND ADDRESS LINE FOUR |
A–R |
LJ |
X(30) |
B |
62 |
62 |
1 |
TRANSACTION TYPE IDENTIFIERS |
A–R |
-- |
X |
B |
63 |
80 |
18 |
ACCOUNT NUMBER |
A–R |
LJ |
X(18) |
B |
1 |
1 |
1 |
RECORD SEQUENCE NUMBER FIVE |
A |
-- |
X(1) |
-- |
2 |
31 |
30 |
NAME AND ADDRESS LINE FIVE |
A–R |
LJ |
X(30) |
B |
32 |
61 |
30 |
NAME AND ADDRESS LINE SIX |
A–R |
LJ |
X(30) |
B |
62 |
65 |
4 |
PRIME BROKER |
A–R |
LJ |
X(4) |
B |
66 |
66 |
1 |
AVERAGE PRICE ACCOUNT |
N–R |
-- |
9(1) |
Z |
67 |
71 |
5 |
DEPOSITORY INSTITUTION IDENTIFIER |
A–R |
LJ |
X(5) |
B |
72 |
77 |
6 |
Order Execution Time HHMMSS – Time format will be in Eastern Time and 24 hour format. |
A-R |
LJ |
-- |
-- |
78 |
80 |
3 |
FILLER |
A |
-- |
X |
B |
1 |
1 |
1 |
RECORD SEQUENCE NUMBER SIX |
A |
-- |
-- |
|
2 |
9 |
8 |
DERIVATIVE SYMBOL |
A-R |
LJ |
-- |
B |
10 |
15 |
6 |
EXPIRATION DATE |
A-R |
-- |
-- |
B |
16 |
16 |
1 |
CALL/PUT INDICATOR |
A-R |
-- |
-- |
B |
17 |
24 |
8 |
STRIKE DOLLAR |
N-R |
RJ |
-- |
Z |
25 |
30 |
6 |
STRIKE DECIMAL |
N-R |
LJ |
-- |
Z |
31 |
36 |
6 |
EXCHANGE CODE
(Effective 11/30/20, move Exchange Code field and its values from “old” position to this “new” position.) |
A–R |
-- |
X |
B |
37 |
80 |
44 |
FILLER |
A |
LJ |
-- |
B |
1 |
1 |
1 |
RECORD SEQUENCE NUMBER SEVEN |
A |
-- |
-- |
|
2 |
14 |
13 |
Large Trader Identification 1 |
A-R |
LJ |
-- |
Z |
15 |
27 |
13 |
Large Trader Identification 2 |
A-R |
LJ |
-- |
Z |
28 |
40 |
13 |
Large Trader Identification 3 |
A-R |
LJ |
-- |
Z |
41 |
41 |
1 |
Large Trader Identification Qualifier |
A-R |
LJ |
-- |
Z |
42 |
49 |
8 |
Primary Party Identifier Identity of the party to the trade that is represented by the Submitting Broker of an EBS. Acceptable values include MPID, CRD or OCC Clearing Number. |
A-R |
LJ |
-- |
B |
50 |
57 |
8 |
Contra Party Identifier Identity of the contra party to the trade that is represented by the Opposing Broker of an EBS. Acceptable values include MPID, CRD or OCC Clearing Number. |
A-R |
LJ |
-- |
B |
58 |
80 |
23 |
FILLER |
A |
LJ |
-- |
B |
1 |
1 |
1 |
TRAILER RECORD DATE |
A |
-- |
X |
-- |
2 |
17 |
16 |
TOTAL TRANSACTIONS |
N |
RJ |
9(16) |
B |
18 |
33 |
16 |
TOTAL RECORDS ON FILE |
N |
RJ |
9(16) |
Z |
34 |
80 |
47 |
FILLER |
A |
-- |
X(47) |
B |
|
|
|
Field Format |
Default Values |
Justify |
|
Attachment B
Record Layout for Submission of Trading Information
Transaction Type | Security Type | |
---|---|---|
Equity* | Options | |
Agency | A | C |
Proprietary | P | F |
Market-Maker | M | |
Non-Member Market-Maker/Specialist Account | N | |
Customer Range Account of a Broker/Dealer | B | |
Error Trade | Q | |
Professional Customer | W | |
Joint Back Office | J | |
Riskless Principal | R |
* Equity securities include those securities that trade like equities (e.g., ETFs and structured products). ©2020 FINRA. All rights reserved.
Endnotes
- For a complete list of ISG members, see www.isgportal.org/isgPortal/public/members.htm.