TRACE Portfolio Trades

Beginning May 15, 2023, as described in Regulatory Notice 22-12, members must report transactions in TRACE Corporate securities which are part of a portfolio trade with an appropriate modifier. The Sale Condition 4 modifier, available via the TRAQS secure web browser and the TRACE FIX protocol (Tag 22004), will be available for this designation.

The TRAQS User Guide, TRACE FIX, and TRACE ATDS, BTDS, and BTDS-144A vendor specifications have been updated to recognize this change. 

FINRA will issue additional technical notices regarding testing and other relevant information about this software release as the production date approaches.

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