TRACE SPDS Specification

On November 5, 2012, FINRA will release the Securitized Products Dissemination Service^TM (SPDS^TM). The SPDS data feed will be used to broadcast last sale price and other relevant trade data to authorized market data vendors for TRACE-eligible asset-backed, securities (collectively known as securitized products). As the transactions are entered into TRACE, FINRA will automatically generate data messages to be disseminated real-time on SPDS.
 
This document defines the communications interface and message format requirements for the output from SPDS. All references to a time of day in this specification are in Eastern Time.