Update - ORF Clearing Messages

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

FINRA has resolved this issue and the software fix will be in production starting Thursday, December 8, 2022.  Beginning December 8, ORF clients should no longer see out of balance conditions with their clearing trades at NSCC.

FINRA encourages firms to continue to monitor any ORF cancels, corrections and reversals submitted to ensure that the fix was successful.

Contact FINRA Market Operations with questions regarding this notice.