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Regulatory Notice 20-19

FINRA and ISG Announce the Update of Blue Sheet Data Elements and Repositioning of Exchange Code Field

Effective Date: Updates to Requestor and Exchange Codes are Effective Immediately; Reposition Exchange Code Field by November 30, 2020

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
Please contact SIAC for assignment at [email protected]

A

LJ

X(4)

--

21

22

2

FILLER

A

LJ

X(2)

.S

23

26

4

DTRK-SUB-ORIGINATOR
Please contact SIAC for assignment at [email protected]

A

LJ

X(4)

--

27

27

1

FILLER

A

LJ

X(1)

B

28

33

6

DTRK-DATE
Contains submission date.

N

LJ

9(6)

MMDDYY

34

34

1

FILLER

A

LJ

X(1)

B

35

59

25

DTRK-DESCRIPTION
Required to identify this file.

A

LJ

X(25)

FIRM TRADING INFORMATION

60

80

21

FILLER

A

LJ

X(21)

B

1

1

1

HEADER RECORD CODE
Value: Low Values OR ZERO

A

--

X

--

2

5

4

SUBMITTING BROKER NUMBER
If NSCC member use NSCC clearing number.
If not a NSCC member, use clearing number assigned to you by your clearing agency.

A–R

LJ

X(4)

B

6

40

35

FIRM'S REQUEST NUMBER
Tracking number used by the firm to record requests from an organization.

A

--

X(35)

B

41

46

6

FILE CREATION DATE
Format is YYMMDD

A

--

X(6)

--

47

54

8

FILE CREATION TIME
Format is HH:MM:SS

A

--

X(8)

--

55

55

1

REQUESTOR CODE
Requesting Organization Identification Values:

A

--

X

--

 

 

 

A = New York Stock Exchange

 

 

 

 

 

 

 

B = NYSE American, LLC

 

 

 

 

 

 

 

C = NYSE Chicago, Inc.

 

 

 

 

 

 

 

D = The Nasdaq Stock Market, LLC

 

 

 

 

 

 

 

E = NYSE Arca

 

 

 

 

 

 

 

F = Nasdaq BX, Inc.

 

 

 

 

 

 

 

G = NYSE National, Inc.

 

 

 

 

 

 

 

H = Cboe BZX Exchange, Inc. (Equity and Options)

 

 

 

 

 

 

 

I = Nasdaq ISE, LLC, Nasdaq GEMX, LLC, Nasdaq MRX, LLC

 

 

 

 

     

J = Cboe EDGA Exchange, Inc. and Cboe EDGX Exchange, Inc. (Equity and Options)

       

 

 

 

K = Cboe Exchange, Inc. and Cboe C2 Exchange, Inc.

 

 

 

 

 

 

 

R = FINRA

 

 

 

 

     

U = BOX Options Exchange, LLC

       

 

 

 

X = U.S. Securities and Exchange Commission

 

 

 

 

 

 

 

Y = Cboe BYX Exchange, Inc.

 

 

 

 

 

 

 

3 = Investors Exchange, LLC

 

 

 

 

 

 

 

4 = Members Exchange

 

 

 

 

 

 

 

5 = Long Term Stock Exchange

 

 

 

 

 

 

 

6 = Boston Security Token Exchange

 

 

 

 

     

7 = MIAX Exchange Group

       

56

70

15

REQUESTING ORGANIZATION NUMBER
Number assigned by requesting organization

A

LJ

X(15)

B

71

80

10

FILLER

A

--

X(10)

B

1

1

1

RECORD SEQUENCE NUMBER ONE
The first record of the transaction. Value: 1

A

--

X

--

2

5

4

SUBMITTING BROKER NUMBER
Identical to Submitting Broker Number in Header Record

A–R

LJ

X(4)

--

6

9

4

OPPOSING BROKER NUMBER
The NSCC clearing house number of the broker on the other side of the trade.

A–R

LJ

X(4)

B

10

21

12

CUSIP NUMBER
The cusip number assigned to the security.
Left justified since the number is nine characters at present (8+ check digit) but will expand in the future.

A

LJ

X(12)

B

22

29

8

TICKER SYMBOL
The symbol assigned to this security. For options (pre-OSI), the OPRA option symbol (space), OPRA expiration month symbol and OPRA strike price symbol should be used. (Ex. Maytag May 20 call option series would be reported as MYG ED. This example uses six spaces in the field with a space between the OPRA symbol and the OPRA expiration month.)

Post OSI this field must contain OPTIONXX and a Record Sequence Number Six must be completed

A–R

LJ

X(8)

B

30

35

6

TRADE DATE
The date this trade executed. Format is YYMMDD.

A–R

--

X(6)

B

36

41

6

SETTLEMENT DATE
The date this trade will settle. Format is YYMMDD

A

--

X(6)

B

42

53

12

QUANTITY
The number of shares or quantity of bonds or option contracts.

N–R

RJ

9(12)

Z

54

67

14

NET AMOUNT
The proceeds of sales or cost of purchases after commissions and other charges.

N

RJ

S9(12) V99

Z

68

68

1

BUY/SELL CODE
Values: 0 = Buy, 1 = Sale, 2 = Short Sale, 3 = Buy Open, 4 = Sell Open, 5 = Sell Close, 6 = Buy Close. A = Buy Cancel, B = Sell Cancel, C = Short Sale Cancel, D = Buy Open Cancel, E = Sell Open Cancel, F = Sell Close Cancel, G = Buy Close Cancel. Values 3 to 6 and D to G are for options only

A–R

--

X

B

69

78

10

PRICE
The transaction price. Format: $$$$ CCCCCC.

N–R

RJ

9(4)V(6)

Z

79

79

1

EXCHANGE CODE
Exchange where trade was executed. Values: 

A–R

--

X

B

 

 

 

A = New York Stock Exchange

 

 

 

 

 

 

 

B = NYSE American, LLC

 

 

 

 

 

 

 

C = NYSE Chicago, Inc.

 

 

 

 

 

 

 

D = Nasdaq PHLX, LLC

 

 

 

 

 

 

 

E = NYSE Arca

 

 

 

 

 

 

 

F = Nasdaq BX, Inc.

 

 

 

 

 

 

 

G = NYSE National, Inc.

 

 

 

 

 

 

 

H = Cboe BZX Exchange, Inc. (Equity and Options)

 

 

 

 

 

 

 

I = Nasdaq ISE, LLC (Options Only)

 

 

 

 

     

J = Cboe C2 Exchange, Inc.

       

 

 

 

K = Cboe Exchange, Inc.

 

 

 

 

 

 

 

L = London Stock Exchange

 

 

 

 

 

 

 

M =Toronto Stock Exchange

 

 

 

 

 

 

 

N = Montreal Stock Exchange

 

 

 

 

 

 

 

O =TSX Venture Exchange

 

 

 

 

     

P = Cboe EDGA Exchange, Inc.

       

 

 

 

Q=FINRA ADF

 

 

 

 

 

 

 

R = The Nasdaq Stock Market, LLC, The Nasdaq Options Market, LLC

 

 

 

 

 

 

 

S = Over-the-Counter

 

 

 

 

 

 

 

T = Tokyo Stock Exchange

 

 

 

 

     

U = BOX Options Exchange, LLC

       
     

V = Cboe EDGX Exchange, Inc. (Equity and Options)

       

 

 

 

W = For Future Use

 

 

 

 

 

 

 

X = Nasdaq PSX, LLC

 

 

 

 

     

Y = Cboe BYX Exchange, Inc.

       
     

Z = Other

       

 

 

 

1 = Nasdaq GEMX, LLC

 

 

 

 

 

 

 

2 = Nasdaq MRX, LLC

 

 

 

 

 

 

 

3 = Investors’ Exchange, LLC

 

 

 

 

 

 

 

4 = Members Exchange

 

 

 

 

 

 

 

5 = Long Term Stock Exchange

 

 

 

 

 

 

 

6 = Boston Security Token Exchange

 

 

 

 

 

 

 

7 = Miami International Securities Exchange

 

 

 

 

 

 

 

8 = MIAX PEARL and MIAX PEARL Equities

 

 

 

 

 

 

 

9 = MIAX Emerald

 

 

 

 

80

80

1

BROKER/DEALER CODE
Indicate if trade was done for another Broker/Dealer.
Values: 0 = No; 1 = Yes

A–R

--

X

B

1

1

1

RECORD SEQUENCE NUMBER TWO
Value: 2

A

--

X

--

2

2

1

SOLICITED CODE
Values: 0 = No; 1 = Yes

A–R

--

X

B

3

4

2

STATE CODE
Standard Postal two character identification.

A–R

--

X(2)

B

5

14

10

ZIP CODE/COUNTRY CODE
Zip Code—five or nine character (zip plus four)
Country code—for future use.

A–R

LJ

X(10)

B

15

22

8

BRANCH OFFICE/REGISTERED REPRESENTATIVE NUMBER
Each treated as a four-character field.
Both are left justified.

A–R

LJ

X(8)

B

23

28

6

DATE ACCOUNT OPENED
Format is YYMMDD

A–R

--

X(6)

B

29

48

20

SHORT NAME FIELD
Contains last name followed by comma (or space) then as much of first name as will fit.

A

LJ

X(20)

B

49

78

30

EMPLOYER NAME

A

LJ

X(30)

B

79

79

1

TIN 1 INDICATOR
Values: 1 = SS#; 2 = TIN

A–R

--

X

B

80

80

1

TIN 2 INDICATOR
Values: 1 = SS#; 2 = TIN—for future use.

A

--

X

B

1

1

1

RECORD SEQUENCE NUMBER THREE
Value: 3

A

--

X

--

2

10

9

TIN ONE
Taxpayer Identification Number
Social Security or Tax ID Number.

A–R

LJ

X(9)

B

11

19

9

TIN TWO
Taxpayer Identification Number #2
Reserved for future use.

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
See Attachment B for current codes.

A–R

--

X

B

63

80

18

ACCOUNT NUMBER
Account number

A–R

LJ

X(18)

B

1

1

1

RECORD SEQUENCE NUMBER FIVE
Value: 5

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
Clearing number of the account's prime broker.

A–R

LJ

X(4)

B

66

66

1

AVERAGE PRICE ACCOUNT
1 = recipient of average price transaction.
2 = average price account itself.

N–R

--

9(1)

Z

67

71

5

DEPOSITORY INSTITUTION IDENTIFIER
Identifying number assigned to the account by the depository institution.

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
Value: 6

A

--

--

 

2

9

8

DERIVATIVE SYMBOL
The symbol assigned to the derivative

A-R

LJ

--

B

10

15

6

EXPIRATION DATE
The date the option expires. Format is YYMMDD

A-R

--

--

B

16

16

1

CALL/PUT INDICATOR
C = Call, P = Put

A-R

--

--

B

17

24

8

STRIKE DOLLAR
The dollar amount of the strike price

N-R

RJ

--

Z

25

30

6

STRIKE DECIMAL
The decimal amount of the strike price

N-R

LJ

--

Z

31

36

6

EXCHANGE CODE
Exchange where trade was executed.

 

(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
Value: 7

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
One record per submission. Must be the last record on the file. Value: High Values or "9"

A

--

X

--

2

17

16

TOTAL TRANSACTIONS
The total number of transactions. This total excludes Header and Trailer Records.

N

RJ

9(16)

B

18

33

16

TOTAL RECORDS ON FILE
The total number of 80 byte records. This total includes Header and Trailer Records, but not the Datatrak Header Record (i.e., it does not include the first record on the file).

N

RJ

9(16)

Z

34

80

47

FILLER

A

--

X(47)

B

               

 

 

 

Field Format
A = Alphanumeric (all caps)
N = Numeric
P = Packed
B = Binary
R = Validation Required

Default Values
B = Blanks
Z= Zero

Justify
RJ = Right Justification of Data
LJ = Left Justification of Data

 

 

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


  1. For a complete list of ISG members, see www.isgportal.org/isgPortal/public/members.htm.