Reminder: Trade Reporting and T+2 Settlement

On Tuesday, September 5, 2017, in accordance with the industry-led shortened settlement cycle from three business days (T+3) to two business days (T+2), FINRA will implement its changes for equity trade reporting. Please refer to Regulatory Notice 16-09 and SR-FINRA-2016-047 for more information on the changes for the trade reporting related to the shortened settlement cycle.

Details on the FINRA product changes are outlined below.

ORF and ADF Trade Reporting Changes/Specifications

1. Updated Trade Modifier 1 definition of Regular
2. Updated Seller’s Option Days definition and valid values
   • ORF-FIX-Specs-v1.6.pdf
   • ORF CTCI Specifications - version 1.6
   • TRAQS OTC Reporting Facility (ORF) User Guide – v1.3
   • TDDS 2.0 - version10A
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ADDS Changes/Specification

1. Updated Seller Days definition and valid values
   FINRA ADDS User Guide - Current Version

Questions regarding this notice or any of the equity trade reporting technical changes should be directed to FINRA Product Management at (866) 899-2107.