OTC Reporting Facility (ORF) Clearing Testing

As part of Transparency Services improvement initiatives, beginning on December 5, 2022, FINRA will re- platform the OTC Reporting Facility (ORF) to a new Linux-based operating system.

FINRA will offer ORF Clearing function testing in the test system (NTF) beginning Monday, October 31, 2022.  This testing will allow ORF clients to view clearing transactions in TRAQS as well as confirming transactions processed via the NSCC’s Universal Trade Capture (UTC) service. Trades submitted in ORF NTF that are subject to clearing will be forwarded to the NSCC Participant Service Environment (PSE) test region, where real-time contracts are made available for NSCC Members.  NSCC Members needing assistance testing or confirmation of their connections can reach out to [email protected] for assistance.

Testing via NTF:

Through Friday, December 2, 2022, users may test ORF clearing functions in the NTF region by using the links below.

Users may test free of charge in NTF for 30 calendar days. Users must notify [email protected]  at the commencement of testing. Once a user informs the Nasdaq test team, the free testing period will continue uninterrupted for 30 calendar days. After the 30-day period ends, normal NTF fees will apply for connecting and testing. Questions regarding NTF fees can be directed to Nasdaq Technical Services at (212) 231-5180.

Please contact FINRA Product Management or call (866) 899-2107 with questions regarding this notice.