OATS Expansion to all NMS Stocks

OATS for NMS Implementation Delayed to October, 17, 2011

Posted: September 27, 2011

FINRA intends to file with the SEC to delay the expansion of OATS to all NMS Stocks until October 17, 2011.  FINRA believes additional testing time for member firms will allow for any remaining implementation issues to be resolved before the new rule and related technical requirements become effective on October 17, 2011.  The same previously announced phase-in schedule will be followed but with dates moved back for the start of each phase by two weeks.   

SEC approves OATS for NMS Stocks

Posted: November 15, 2010

On November 12, 2010, the SEC approved FINRA’s proposed rule change SR-FINRA-2010-044 to expand the OATS Rules to all NMS stocks. The changes will be effective 180 days after publication of the Regulatory Notice and related OATS Reporting Technical Specifications. For more information, please review the SEC's Approval Order. 

OATS Reportable Securities Daily List

To assist firms in complying with the OATS Rules, FINRA will publish a daily consolidated list of all OATS Reportable securities. The OATS Reportable Security Daily List will provide a list of all NMS stocks and OATS reportable OTC equity securities representing the current trading day.

Important Dates

• 2011 Road Shows
• 1/11/11 – Regulatory Notice 11-03: FINRA Expands the Order Audit Trail System to All NMS Stocks
• 5/3/11 – OATS Reporting Technical Specifications Published
• 8/22/11 – OATS Expansion to all NMS Stocks release available for testing in the OATS Testing environment
• 10/17/11 – OATS Expansion to all NMS Stocks and related changes required to be reported to OATS Production

OATS Reports related to the OATS Expansion to all NMS Stocks

• OATS for NMS Transition to Production Environment
• OATS for all NMS Stocks Phase-in Schedule
• OATS Production and Certificate Test Environment Changes
• Validation of Order Origination Code and Account Type Code
• FINRA Guidance on OATS Order Trade Matching Obligations for Orders Matched as Agent by a Member, including an ECN or ATS
• ROE Rejection Feedback
• Guidance on Exchange Route Matching, Including the Addition of Exchange Participant ID and Connection ID to Exchange Route Reports

Frequently Asked Questions

View a listing of frequently asked questions about OATS Expansion to all NMS Stocks.