Key Dates:  1/21/13  and 3/4/13.

[ by Howard Haykin ]

FINRA released a new edition of the OATS Reporting Technical Specifications dated 12/11/12.  This version of the OATS Reporting Technical Specifications contains code changes specific to New FINRA Rule 5350, which provides that:

• any order labeled as a “stop order” or a “stop limit order” must be triggered based upon a transaction at the stop price,
• members are permitted to offer alternative order types with different triggers - e.g., a stop order triggered by a quotation at the stop price - so long as such other order type is not labeled as a stop order and is clearly distinguishable from a stop order.
• these Special Handling Codes will be available in the OATS Production environment on 1/21/13 and required to be reported, when applicable, starting on 3/4/13.

The OATS Reporting Technical Specifications document covers ... the requirements and procedures for:

• clock synchronization;
• system access requirements for supplying OATS files to FINRA;
• order reporting scenarios that describe, from a business perspective, responsibilities for reporting to OATS;
• details regarding the required layout of OATS files;
• procedures for providing corrections to OATS data and for receiving feedback from FINRA; and,
• procedures for registration, self administration, and testing and certification.

There's also a data dictionary that describes 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.
 
 

For assistance, contact FINRA Business and Technology Support Services at 1-800-321-6273.
 

For further details, go to:   [ FINRA OATS Announcement, 12/11/12 ]    [ FINRA OATS Tech Specs, 12/11/12 ].