Testing FINRA TRACE Corporate/Agency Replatform and Data Feed Protocol Changes

As part of its Transparency Services improvement initiative, beginning Monday, September 9, 2024, FINRA will re-platform the TRACE Corporate and Agency product to a new Linux-based operating system. FINRA encourages client testing participation in this effort to validate that all processes work within the TRACE reporting framework.

As part of this migration FINRA will introduce a new protocol to the TRACE Corporate and Agency Data feeds – ATDS, BTDS, and BTDS-144A. TRACE data feed clients must adhere to the new protocol and feed changes as described below. FINRA has updated the ATDS, BTDS, and BTDS-144A specifications, IP address configurations and the MOLD/UDP 64 specification.

FINRA invites TRACE clients and data recipients to test the new platform in the Nasdaq Test Facility (NTF), by entering in transactions and confirming successful data dissemination via the data feeds.

Testing via NTF:

From Monday, June 17, 2024, through Friday, September 6, 2024, users may test 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 testing free 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.

Protocol and Retransmissions:

The TRACE data feeds deliver TRACE transaction data.   MOLD/UDP 64 will replace the current non-interactive simplex mode using Internet Protocol (IP). Additionally, client retransmission capability to retrieve data packets will be automated via the use of dedicated unicast addresses; this will replace the current manual requests for data retransmission. Once requests are processed, the retransmitted messages will be disseminated via the unicast retransmission connection.   

Network Communications:

New Ports and Multicast Addresses for ATDS, BTDS and BTDS-144A will be employed when MOLD/UDP 64 is introduced. FINRA will continue to offer data via Primary A and Primary B groups (NY Metro; Ashburn), and TRACE data feed clients are encouraged to process both groups.  In addition, FINRA has employed Disaster Recovery groups to be utilized in the event of catastrophic failure encountered at the data centers. FINRA encourages data feed clients to also be prepared to process the Disaster Recovery groups. 

Help Getting Started:

Clients with questions on the MOLD/UDP 64 protocol should contact Trading Services at 212.231.5180. Clients needing network assistance for setup for any of the new routes should contact [email protected].   

FINRA will issue separate notices with testing details of upcoming production Saturday user acceptance tests (UAT).

It is required that all TRACE data feed clients will accommodate the data feed changes by Monday, September 9, 2024

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