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FINRA Issues New OATS Reporting Tech Specs [part two]
January 9, 2012
The OATS Reporting Technical Specifications document covers: (i) requirements and procedures for clock synchronization; (ii) system access requirements for supplying OATS files to FINRA; (iii) order reporting scenarios describing, from a business perspective, responsibilities for reporting to OATS; (iv) details re: required layout of OATS files; (v) procedures for providing corrections to OATS data and for receiving feedback from FINRA; and, (vi) procedures for registration, self administration, and testing and certification.
There's also a data dictionary describing all of the data elements in OATS files, a list of report formats - including field names, data types, and lists of permissible values, examples of order reports; and, a glossary. The OATS Reporting Technical Specifications is not intended to provide information about how to develop an electronic system that reports order information; it is only intended to describe what such a system must deliver to FINRA.
New FINRA Release. FINRA released a new edition of the OATS Reporting Technical Specifications dated December 23, 2011. This version of the OATS Reporting Technical Specifications contains code changes specific to certain FINRA member firms that provide algorithms to NYSE Floor Brokers and validation changes that are specific to non-FINRA member firms that are required to record OATS data pursuant to certain exchange rules. The changes described in this version of the OATS Reporting Technical Specifications include all required changes related to expanding FINRA’s OATS Rules to all NMS stocks (SR-FINRA-2010-44), along with other technical enhancements.
Critical Dates. All changes described in this version of the OATS Reporting Technical Specifications will be available in the OATS Production environment on 1/16/12 and in the OATS Certificate Test environment that begins today, 1/9/12. The effective date for the changes specific to the NYSE Floor Broker Algorithm is 2/27/12. View more details on the OATS Reporting Technical Specifications changes.
For further details, go to: [OATS Technical Specifications, 12/23/11].

