FINRA Email! FINRA has observed a number of TRACE and ORF clients experiencing problems submitting transactions to TRAQS. Users are presented with an error related to the connection attempt. FIX trade reporting is unaffected by this issue. FINRA is currently researching the problem.
The Trade Reporting and Compliance Engine is the FINRA-developed vehicle that facilitates the mandatory reporting of over-the-counter transactions in eligible fixed income securities.
All broker-dealers who are FINRA member firms have an obligation to report transactions in TRACE-eligible securities under an SEC-approved set of rules.
The OTC Reporting Facility (ORF) is the service provided by FINRA for the reporting of trades in OTC Equity Securities executed other than on or through an exchange and for trades in Restricted Equity Securities effected under Securities Act Rule 144A and dissemination of last sale reports.
For those OTC Equity Securities and Restricted Equity Securities that are not eligible for clearance and settlement through the facilities of the National Securities Clearing Corporation, the ORF comparison function will not be available. However, the ORF will support the entry and dissemination of last sale data on such securities.
Members that report transactions in OTC Equity Securities and Restricted Equity Securities to the ORF must comply with the 6600 and 7300 Series, as well as all other applicable rules and regulations.
The third-quarter data tables for the TRACE Fact Book are now available. The tables include aggregated information for securitized products as well as corporate and agency debt securities, including trades reported, the top 50 issues by trades and by par value, the average daily par value traded, customer buy vs. customer sell ratios and more.
Update: FINRA TRAQS Error
FINRA has rectified the TRAQS error clients observed this morning whereby a number of TRACE and ORF clients experienced problems submitting transactions to TRAQS.