Reminder - ORF Clearing Messages

Since Monday, December 5, 2022, FINRA is experiencing an issue with ORF clearing messages for transactions that are cancelled, corrected, broken or reversed and thus causing duplicate settlement messages and incorrect settlement amounts for those transactions.

In the interim, until FINRA resolves the issue, FINRA requests ORF clients work with their clearing firms to send the necessary transactions directly to NSCC that will adjust the settlement imbalances.

Firms should continue to monitor any ORF cancels, corrections and reversals submitted, for potential imbalances at NSCC and work with their clearing firms until FINRA announces the issue has been resolved.

FINRA is working on a permanent solution and will update clients as more details are known.

Contact FINRA Market Operations with questions regarding this notice.