Effective May 28, 2024, in accordance with the industry-led shortened settlement cycle from two business days (T+2) to one business day (T+1), FINRA will implement its changes for equity trade reporting. Please see DTCC notice for details of the financial industry coordination for this project and FINRA’s initial Technical Notice for this initiative which includes updates to its specifications.
In observance of Memorial Day, FINRA’s Market Transparency Reporting Systems will be closed on Monday, May 26, 2025.
Firms that pursue public cloud technologies generally can pursue three different models depending on their needs: Infrastructure as a Service (IaaS), Platform as a Service (PaaS) and Software as a Service (SaaS). Each type entails a different level of service provided by the cloud service provider:16
Infrastructure as a Service (IaaS): IaaS refers to a self-service model for accessing basic IT
In observance of Good Friday, FINRA’s Market Transparency Reporting Systems will be closed on Friday, April 18, 2025.
As FINRA previously announced, on December 31, 2025, the use of SMS and Voice Call as Multi-Factor Authentication (MFA) methods for access to TRAQS and API Reference Data files will be eliminated.
As part of its Transparency Services improvement initiatives, beginning in December 2022, FINRA will re- platform the OTC Reporting Facility (ORF) to a new Linux-based operating system. These changes will be implemented in addition to the Trade Data Dissemination Service (TDDS) protocol changes FINRA previously announced. Except for the timestamp changes listed below, all ORF trade reporting
Mr. Chairman and Members of the Committee: NASD would like to thank the committee for the invitation to submit this written statement for the record.
ORF Data Delivery Plus Fee
FINRA assesses the ORF Data Delivery Plus service fee per each MPID that the firm enrolls in the service. The firm's monthly fee is based on:
the average number of transactions the MPID was a party to* per month over the prior calendar year, which is used to categorize the MPID in one of 4 tiers, and
the number of "Plus" reports (reports for dates
In observance of Presidents’ Day, FINRA’s Market Transparency Reporting Systems will be closed on Monday, February 17, 2025. Affected applications include:Alternative Display Facility (ADF)Over-the-Counter Reporting Facility (ORF)Trade Reporting and Compliance Engine (TRACE)FINRA/Exchange Trade Reporting Facilities (TRFs)As stated in the data feed interface specifications, FINRA may send out
FINRA reminds ORF and TRACE clients that test function partners should be arranged with other street-side firms when needing to conduct trade matching, new trade entries or allege versions of cancels/corrections and reversal transactions in the Nasdaq Test Facility (NTF) region.
