From Friday, March 10, 2023, through Friday, March 31, 2023, the FINRA Test Facility (NTF) for TRACE Corporate and Agency Debt will be modified to limit trade retention to five rolling business days. During that time, trades submitted in the NTF environment will only be available for cancellation or correction through T-5. After T-5 all trades must be reversed.
The Trade Management window in
FINRA experienced an issue on March 6 with the processing of Monthly OTC Transparency Data, thereby causing a publication delay of ATS and Non-ATS Block data and downloads for the month of January 2023 on the OTC Transparency Data website. The issue was resolved and all files and data were published on the website.
If you have any questions, please contact ATS Support.
Beginning May 15, 2023, the following FINRA TRACE rules changes will take effect:
Members must report transactions in TRACE-eligible Corporate debt securities which are part of a portfolio trade with an appropriate modifier. The Sale Condition 4 modifier, available via the TRAQS secure web browser and the TRACE FIX protocol (Tag 22004), will be available for this designation, as described in
Previously today, some TRACE FIX clients were experiencing connectivity issues. FINRA has resolved this issue and FIX connectivity is working properly for all affected clients.
Contact FINRA Product Management with questions regarding this notice.
Summary
FINRA has adopted amendments to Rule 8312 (FINRA BrokerCheck Disclosure) to release information on BrokerCheck as to whether a particular current or former member firm is currently designated as a Restricted Firm pursuant to FINRA Rules 4111 (Restricted Firm Obligations) and 9561 (Procedures for Regulating Activities Under Rule 4111).1
The new rule amendments become effective on June 1
Some TRACE FIX clients are currently experiencing connectivity issues. FINRA is working on a solution and will provide an update as more details are known.
Contact FINRA Product Management with questions regarding this notice.
A clearing member may use negative response letters to assign orphan accounts to an introducing broker-dealer on the clearing member’s platform.
Dear Ms. Dyer:
I am responding to your letter dated March 10, 2023, as supplemented by conversations with the staff, in which you seek interpretive guidance regarding the use of negative response letters by National Financial Services LLC (“NFS”) to
FINRA plans to update the TRACE for Treasuries FIX acknowledgement messages on Monday, July 10, 2023.
Currently, FIX Tag 60 (Transact Time) timestamps support up to microsecond precision (Format: YYYYMMDD-HH:MM:SS.sss.mmm); however FIX acknowledgement messages consist of only millisecond precision (Format: YYYYMMDD-HH:MM:SS.sss). The TRACE for Treasury Securities FIX Specification
There will be a traffic interruption in fileX service in CT and PROD environment for duration below. Users can re-establish connection and resume file transfers after the maintenance window.
CT and PROD: Thursday April 27, 2023 from 8 p.m to 10 p.m
Contact FINRA Support Center (800) 321-6273, or by email, if you have any questions.
