Regulatory Notice
Notice Type
Rule Amendment
Referenced Rules & Notices
NASD Rules 6130, 6130A, 6130C, 6130D and 6130E
NASD Rules 4632, 4632A, 4632C, 4632D and 4632E
NTM 05-11
NTM 98-40
Suggested Routing
Compliance
Legal
Operations
Registered Representatives
Senior Management
Systems
Trading
Key Topic
The Cybersecurity and Technology Governance section of the 2021 Report on FINRA’s Risk Monitoring and Examination Activities (the Report) informs member firms’ compliance programs by providing annual insights from FINRA’s ongoing regulatory operations, including (1) relevant regulatory obligations and related considerations, (2) exam findings and effective practices, and (3) additional resources.
The TRACE Treasuries Execution Time Difference report is a monthly summary of execution time comparisons for inter-dealer trades in U.S. Treasury Securities reported to TRACE. Firms are required to report trades in accordance with established FINRA rules and regulations.
1. Real-time TRACE Data (Vendor Agreement)
Firms wishing to subscribe to either the Bond Trade Dissemination Service (BTDS), Agency Trade Dissemination Services (ATDS), Securitized Products Dissemination Service (SPDS), and/or 144A Bond Trade Dissemination Services (144A) must complete and sign the TRACE Vendor Agreement. The executed Agreement should be submitted electronically to:
The TRACE Markup/Markdown Analysis Report is a monthly report designed to assist firms in their supervision activities by providing transparency into a portion of FINRA's surveillance program of corporate and agency fixed income transactions customer pricing.
The TRACE Markup/Markdown Analysis Report is built upon logic developed to pair purchase and sale transactions reported to
The TRACE Quality of Markets Report Card for Treasuries is a monthly status report for treasuries transactions that a firm reported to the Trade Reporting and Compliance Engine (TRACE). Firms are required to report trades in accordance with established FINRA rules and regulations. Firms should make no inference that the staff of FINRA has or has not determined that the information contained on
The TRACE Quality of Markets Report Card for Securitized Products is a monthly status report for the reporting of transactions in Asset Backed Securities, Mortgage Backed Securities and other similar securities, collectively defined as "Securitized Products", to the Trade Reporting and Compliance Engine (TRACE). Firms are required to report trades in accordance with established FINRA
The tables below provide a reference description for all of the elements found in all views of the TRACE Quality of Markets Corporate Bond and Agency Debt Report Cards. (See TRACE Quality of Markets Report Card Figures 1 - 3 for a sample report.)
Term
Definition
Firm Activity Total
Trade Report Entries
This is the total number of
Agreements
Subscriber Agreement Information (Terminals & Snapshot Data)
Subscriber Agreement v 7.2
Subscriber Agreement Comparison v 7.1 to 7.2
Subscriber Packet v 7.2
Subscriber Packet Comparison of Versions 7.1 to 7.2
Completed agreements can be sent electronically to TRACE Data Services.
Related Products
Real-Time Data Information
Additional Information
The file is produced in pipe-delimited format. Each file shall contain a header row that defines the field under each column, as well as an end-of-file trailer consisting of a date/time stamp and total record count (maximum of 10 numeric characters, right justified and zero filled). The filename identifies the date the trades were reported (YYYY-MM-DD).The file is produced in two versions: one
