trace production user test script for remuneration and ats … · 09-07-2016 · finra trace –...
TRANSCRIPT
FINRA TRACE – Remuneration/ATS MPID 7/9/2016 UAT Test Script
TRACE
Production User Test Script for Remuneration and ATS MPID
(Corporate and Agency Securities)
July 9, 2016
Time: 9 a.m. – 12 p.m. ET
Dial-in: 800.519.4276
Pass code: 8584438
The following script can be used to test the entry and dissemination of Remuneration trades
and trades using an ATS MPID for TRACE Corporate and Agency securities. In addition, if
eligible, these transactions will appear in the specific TRACE data feed (ATDS, BTDS,
BTDS-144A) and the TRAQS Time and Sales scan (for authorized users) for the relevant
security transactions. The test script allows users to enter Trades, Cancels and Corrections for
CA sub-products: Agency Debt (AGCY), Church Bonds (CHRC), Corporate Bonds (CORP),
and Equity Linked Notes (ELN).
Please note that testing is open for all participants to input the following test cases, using the
listed securities, however firms are free to test “off-script” so transactional data not covered
in this script may appear in the feed(s) and in Time and Sales.
Other testing notes:
Test cases in this test script are suggested test cases only. Firms are free to use their
own test cases and use other valid security symbols to perform their test. Firms may submit trades via FIX, CTCI and TRAQS Web input.
The No Remuneration Indicator field should be used whenever a commission or
markup/markdown is not assessed on the trade at the time of execution. An entry of
“N” indicates the trade does not include remuneration of any kind. A blank value
indicates the trade does include remuneration.
The No Remuneration Indicator value of “N” may only be used on Secondary (S1)
trades. Trades designated as Primary (P1) which include the No Remuneration
Indicator as “N” will be rejected.
The No Remuneration value of “N” can also only be used on Customer or Affiliate
trades. Interdealer trades will be rejected if the No Remuneration value of “N” is
submitted on a transaction.
Firms can identify trades as an ATS execution. The “ATS Execution MPID” field
allows firms to specify the ATS platform of the execution by using the MPID
FINRA TRACE – Remuneration/ATS MPID 7/9/2016 UAT Test Script
assigned to that ATS. A list of valid ATS Exec MPIDs is provided in the table
below.
ATS firms may report trades or be alleged (Contra Party) on trades or may not have
the ATS on either side.
On Contra Party ID field where “Enter Firm MPID” is stated, please enter any valid
broker-dealer MPID as your contra party.
Clearing Numbers are optional and may be entered if desired.
The Branch Sequence Number and Memo fields are optional and may be entered if
desired.
Firms can assign a Client Trade ID on each trade report and Cancel and Correct using
a either the Client Trade ID or the TRACE Control Number.
Unless a time is specified in the script, please use the current time as your Execution
Time.
For testing, the current business date will be 7/9/2016, which should be used as the
Execution Date where the field indicates “Current Date”.
FINRA TRACE – Remuneration/ATS MPID 7/9/2016 UAT Test Script
Securities that will be used for testing in this script:
Symbol CUSIP Sub Product 144A Grade
AA.HU 013817AQ4 CORP NO High Yield
AAL4327177 02376WAA9 CORP NO Investment Grade
DTEGF3826258 25156PAR4 CORP YES Investment Grade
GS4207114 38148K884 ELN NO High Yield
MS3671333 617446M97 ELN NO Investment Grade
CHRC3933600 896588CL2 CHRC NO High Yield
AGM3859681 31315PYW3 AGCY NO Investment Grade
ATS MPIDs:
ATS ID FIRM NAME
BGCX BGC Financial L.P.
BRLQ Brilliquid LLC
IEBC Brokertec Americas LLC
CSCA Creditex Securities Corporation
DLWB Dealerweb, Inc.
ELET Electronifie Securities LLC
FTBR FOLIOfn Investments, Inc.
GFIG GFI Securities LLC
LATG GFI Securities LLC
HTDX Hartfield, Titus & Donnelly, LLC
GARE ICAP Corporates LLC
IATS Interactive Brokers LLC
ITGP ITG Inc.
VABD KCG Americas LLC
LQNF Liquidnet, Inc.
BNDS MTS Markets International, Inc.
OTCR OTC Link LLC
TMCC TMC Bonds L.L.C.
TWDA
Tradeweb Direct LLC (f/k/a
BondDesk Trading LLC)
TMID TruMid Financial LLC
TPCD Tullet Prebon Financial Services LLC
FINRA TRACE – Remuneration/ATS MPID 7/9/2016 UAT Test Script
TRADE ENTRY
Field TEST CASE 1 TEST CASE 2 TEST CASE 3
Sub-Product CORP CORP CORP Reporting Party ID Enter Firm MPID Enter Firm MPID Enter Firm MPID Side (Buy/Sell) BUY SELL BUY CUSIP 013817AQ4 013817AQ4 013817AQ4 Symbol AA.HU AA.HU AA.HU Quantity 5,000.00 1,500,750.00 10,000.00 Contra Party ID A A C Capacity (P/A) P A A Price 105 105.50 106 ATS Exec MPID Price Override Trading Market Indicator
S1 S1 S1
Execution Time Within the past 15 min of current time
Within the past 15 min of current time
Within the past 15 min of current time
Settlement Date 7/22/2016 7/22/2016 7/22/2016 As Of Indicator Execution Date Current date Current date Current date Commission 125.00 No Remuneration N RP Give Up RP Clearing # Special Price Indicator Special Price Reason Modifier 4 Client Trade ID Branch Seq # Memo Markup/markdown
trade Commission trade
Special Processing Locked-In Indicator CP Give Up Contra Clearing # Contra Capacity (P/A) Contra Commission Contra Client Trade ID Contra Branch Seq # EXPECTED RESULT
Trade should disseminate on BTDS
Trade should disseminate on BTDS
Trade should disseminate on BTDS
Control Number (if accepted) OR Reject Control Number (if rejected)
Comments
N should be present in BTDS “Remuneration” field.
Trade should be identified as “M” in Remuneration field; price is inherent as markup/markdown.
Trade should be identified as “C” in Remuneration. Price should be adjusted as per commission amount rules.
FINRA TRACE – Remuneration/ATS MPID 7/9/2016 UAT Test Script
TRADE ENTRY
Field TEST CASE 4 TEST CASE 5 TEST CASE 6
Sub-Product CORP CORP CORP Reporting Party ID Enter Firm MPID Enter Firm MPID Enter Firm MPID Side (Buy/Sell) SELL SELL SELL CUSIP 013817AQ4 02376WAA9 02376WAA9 Symbol AA.HU AAL4327177 AAL4327177 Quantity 2,000,000.00 900 999,999.00 Contra Party ID A C Enter Firm MPID Capacity (P/A) P A P Price 105.75 105 106.75 ATS Exec MPID Price Override YES Trading Market Indicator
P1 S1 S1
Execution Time Within the past 15 min of current time
Within the past 15 min of current time
10:00:00
Settlement Date 7/22/2016 7/29/2016 7/29/2016 As Of Indicator YES Execution Date Current date Current date 6/22/2016 Commission 125.00 No Remuneration N RP Give Up RP Clearing # Special Price Indicator Special Price Reason Modifier 4 Client Trade ID Branch Seq # Memo Special Processing Locked-In Indicator CP Give Up Contra Clearing # Contra Capacity (P/A) Contra Commission Contra Client Trade ID Contra Branch Seq # EXPECTED RESULT
Trade should reject Trade should NOT disseminate
Trade should disseminate on BTDS
Control Number (if accepted) OR Reject Control Number (if rejected)
Comments
P1 trades with No Remuneration value of “N” should reject.
Trades with quantity of <1000 should not disseminate.
Trade should be marked “late” on BTDS. Sale Condition 3 = Z.
FINRA TRACE – Remuneration/ATS MPID 7/9/2016 UAT Test Script
TRADE ENTRY
Field TEST CASE 7 TEST CASE 8 TEST CASE 9
Sub-Product CORP CORP CORP Reporting Party ID Enter Firm MPID Enter Firm MPID Enter Firm MPID Side (Buy/Sell) BUY SELL BUY CUSIP 02376WAA9 02376WAA9 25156PAR4 Symbol AAL4327177 AAL4327177 DTEGF3826258 Quantity 50,000.00 7,000,000.00 500,000.00 Contra Party ID Enter Firm MPID Enter Firm MPID Enter Firm MPID Capacity (P/A) A A P Price 102.50 103.00 115.00 ATS Exec MPID Price Override Trading Market Indicator
S1 S1 S1
Execution Time Within the past 15 min of current time
Within the past 15 min of current
Within the past 15 min of current
Settlement Date 7/22/2016 7/15/2016 7/22/2016 As Of Indicator Execution Date Current date Current date Current date Commission 500.00 No Remuneration N RP Give Up RP Clearing # Special Price Indicator Special Price Reason Modifier 4 Client Trade ID Branch Seq # Memo Special Processing Locked-In Indicator CP Give Up Contra Clearing # Contra Capacity (P/A) Contra Commission Contra Client Trade ID Contra Branch Seq # EXPECTED RESULT
Trade should reject Trade should disseminate on BTDS
Trade should NOT disseminate on BTDS-
144A Control Number (if accepted) OR Reject Control Number (if rejected)
Comments
Interdealer trades designated as “N” in the No Remuneration field should be rejected.
Disseminated amount will reflect estimated (capped) quantity of 5MM+. Although commission is reported in the BTDS “Remuneration” field, field should be blank bc this is an Interdealer trade.
Only interdealer SELL trades should disseminate.
FINRA TRACE – Remuneration/ATS MPID 7/9/2016 UAT Test Script
TRADE ENTRY
Field TEST CASE 10 TEST CASE 11 TEST CASE 12
Sub-Product CORP CORP CORP Reporting Party ID Enter Firm MPID Enter Firm MPID Enter Firm MPID Side (Buy/Sell) SELL SELL BUY CUSIP 25156PAR4 25156PAR4 25156PAR4 Symbol DTEGF3826258 DTEGF3826258 DTEGF3826258 Quantity 500,000.00 1,500,000.00 125,000.00 Contra Party ID A A C Capacity (P/A) P P A Price 114.50 115.50 113.00 ATS Exec MPID Price Override Trading Market Indicator
S1 S1 S1
Execution Time Within the past 15 min of current time
Outside of past 15 minutes of current time
11:55:00
Settlement Date 7/22/2016 7/22/2016 7/15/2016 As Of Indicator YES Execution Date Current date Current date 6/22/2016 Commission 275.00 No Remuneration N RP Give Up RP Clearing # Special Price Indicator Special Price Reason Modifier 4 W Client Trade ID Branch Seq # Memo Markup/markdown
trade
Special Processing A Locked-In Indicator CP Give Up Contra Clearing # Contra Capacity (P/A) Contra Commission Contra Client Trade ID Contra Branch Seq # EXPECTED RESULT
Trade should disseminate on
BTDS-144A
Trade should NOT disseminate
Trade should disseminate on BTDS-
144A Control Number (if accepted) OR Reject Control Number (if rejected)
Comments
Sale Condition 4 should indicate Weighted Avg Trade; Trade should indicate “M” in the Remuneration field.
A Non-Member Affiliate trade with Special Processing of “A” is not eligible for dissemination.
Remuneration field on BTDS 144A should be marked as “C”; price should adjust as per commission rules.
FINRA TRACE – Remuneration/ATS MPID 7/9/2016 UAT Test Script
TRADE ENTRY
Field TEST CASE 13 TEST CASE 14 TEST CASE 15
Sub-Product ELN ELN ELN Reporting Party ID Enter Firm MPID Enter Firm MPID Enter Firm MPID Side (Buy/Sell) BUY SELL SELL CUSIP 38148K884 38148K884 38148K884 Symbol GS4207114 GS4207114 GS4207114 Quantity 6,500,000.00 999,999.00 1,500,000.00 Contra Party ID A C A Capacity (P/A) A P A Price 9.35 9.85 9.95 ATS Exec MPID Price Override Trading Market Indicator
S1 S1 S1
Execution Time Within the past 15 min of current time
Within the past 15 min of current time
Within the past 15 min of current time
Settlement Date 7/22/2016 7/22/2016 7/22/2016 As Of Indicator Execution Date Current date Current date Current date Commission 100.00 No Remuneration N RP Give Up RP Clearing # Special Price Indicator Special Price Reason Modifier 4 Client Trade ID Branch Seq # Memo Special Processing Locked-In Indicator CP Give Up Contra Clearing # Contra Capacity (P/A) Contra Commission Contra Client Trade ID Contra Branch Seq # EXPECTED RESULT
Trade should disseminate on
BTDS
Trade should disseminate on BTDS
Trade should disseminate on BTDS
Control Number (if accepted) OR Reject Control Number (if rejected)
Comments
Trade should be marked as “N” in Remuneration field on BTDS.
Trade should be identified as “M” in Remuneration field; price is inherent as markup/markdown.
Trade should be identified as “C” in Remuneration field; with price adjusted as per commission rules. Quantity should be 1MM+.
FINRA TRACE – Remuneration/ATS MPID 7/9/2016 UAT Test Script
TRADE ENTRY
Field TEST CASE 16 TEST CASE 17 TEST CASE 18
Sub-Product ELN ELN ELN Reporting Party ID Enter Firm MPID Enter Firm MPID Enter Firm MPID Side (Buy/Sell) SELL BUY BUY CUSIP 617446M97 617446M97 617446M97 Symbol MS3671333 MS3671333 MS3671333 Quantity 6,000,000 4,000,000.00 250,000.00 Contra Party ID Enter Firm MPID A A Capacity (P/A) A P A Price 17.750 17.05 17.25 ATS Exec MPID Price Override Trading Market Indicator
S1 S1 S1
Execution Time Within the past 15 min of current time
12:00:00 Within the past 15 min of current time
Settlement Date 7/22/2016 7/22/2016 7/22/2016 As Of Indicator YES Execution Date Current date 6/22/2016 Current date Commission 200.00 100.00 No Remuneration N RP Give Up RP Clearing # Special Price Indicator Special Price Reason Modifier 4 Client Trade ID Branch Seq # Memo Special Processing A Locked-In Indicator CP Give Up Contra Clearing # Contra Capacity (P/A) Contra Commission Contra Client Trade ID Contra Branch Seq # EXPECTED RESULT
Trade should disseminate on BTDS
Trade should NOT disseminate on BTDS
Trade should reject
Control Number (if accepted) OR Reject Control Number (if rejected)
Comments
Disseminated amount will reflect estimated (capped) quantity of 5MM+. Commission should be included in the price as per pricing rules, but no commission identifier should be present in the BTDS “Remuneration” field.
A Non-Member Affiliate trade with Special Processing of “A” is not eligible for dissemination.
Trades including commission and also designated as “N” in the No Remuneration field should be rejected.
FINRA TRACE – Remuneration/ATS MPID 7/9/2016 UAT Test Script
TRADE ENTRY
Field TEST CASE 19 TEST CASE 20 TEST CASE 21
Sub-Product CHRC CHRC CHRC Reporting Party ID Enter Firm MPID Enter Firm MPID Enter Firm MPID Side (Buy/Sell) SELL BUY BUY CUSIP 896588CL2 896588CL2 896588CL2 Symbol CHRC3933600 CHRC3933600 CHRC3933600 Quantity 500,000.00 4,000,000.00 250,000.00 Contra Party ID A A C Capacity (P/A) P A P Price 97.90 98 102.75 ATS Exec MPID Price Override Trading Market Indicator
S1 S1 P1
Execution Time Within the past 15 min of current time
11:55:00 Within the past 15 min of current time
Settlement Date 7/22/2016 7/22/2016 7/22/2016 As Of Indicator YES Execution Date Current date 6/16/2016 Current date Commission 150.00 No Remuneration RP Give Up RP Clearing # Special Price Indicator Special Price Reason Modifier 4 W Client Trade ID Branch Seq # Memo Special Processing Locked-In Indicator CP Give Up Contra Clearing # Contra Capacity (P/A) Contra Commission Contra Client Trade ID Contra Branch Seq # EXPECTED RESULT
Trade should disseminate on BTDS
Trade should disseminate on BTDS
Trade should NOT disseminate on
BTDS Control Number (if accepted) OR Reject Control Number (if rejected)
Comments
Modifier 4 should be identified as Weighted Avg.; Remuneration field should be marked as “M; price is inherent as a markup/ markdown transaction.
Trade should be identified as “C” in Remuneration field; with price adjusted as per commission rules. Quantity should be shown as 1MM+; trade should be marked late, Sale Condition 3 = Z.
P1 trades are not eligible for dissemination.
FINRA TRACE – Remuneration/ATS MPID 7/9/2016 UAT Test Script
TRADE ENTRY
Field TEST CASE 22 TEST CASE 23 TEST CASE 24
Sub-Product AGCY AGCY AGCY Reporting Party ID Enter Firm MPID Enter Firm MPID Enter Firm MPID Side (Buy/Sell) SELL BUY SELL CUSIP 31315PYW3 31315PYW3 31315PYW3 Symbol AGM3859681 AGM3859681 AGM3859681 Quantity 500,000.00 6,000,000.00 250,000.00 Contra Party ID A A A Capacity (P/A) P P A Price 101.50 99.75 102.75 ATS Exec MPID Price Override Trading Market Indicator
S1 S1 S1
Execution Time Within the past 15 min of current time
13:30:00 Within the past 15 min of current time
Settlement Date 7/22/2016 7/22/2016 7/29/2016 As Of Indicator YES Execution Date Current date 6/8/2016 Commission No Remuneration N RP Give Up RP Clearing # Special Price Indicator Special Price Reason Modifier 4 Client Trade ID Branch Seq # Memo Special Processing A Locked-In Indicator CP Give Up Contra Clearing # Contra Capacity (P/A) Contra Commission Contra Client Trade ID Contra Branch Seq # EXPECTED RESULT
Trade should disseminate on
ATDS
Trade should disseminate on ATDS
Trade should NOT disseminate on ATDS
Control Number (if accepted) OR Reject Control Number (if rejected)
Comments
Trade should be identified as “M” in Remuneration field; price is inherent as markup/markdown.
Trade should be marked “late” on ATDS. Sale Condition 3 = Z.; Disseminated amount will reflect estimated (capped) quantity of 5MM+; Remuneration field should be marked as “N”.
A Non-Member Affiliate trade with Special Processing of “A” is not eligible for dissemination.
FINRA TRACE – Remuneration/ATS MPID 7/9/2016 UAT Test Script
TRADE ENTRY
Field TEST CASE 25 TEST CASE 26 TEST CASE 27
Sub-Product AGCY AGCY AGCY Reporting Party ID Enter Firm MPID Enter Firm MPID Enter Firm MPID Side (Buy/Sell) BUY BUY SELL CUSIP 31315PYW3 31315PYW3 31315PYW3 Symbol AGM3859681 AGM3859681 AGM3859681 Quantity 2,500,000.00 500,000.00 250,000.00 Contra Party ID C Enter Firm MPID Enter Firm MPID Capacity (P/A) A P A Price 101.00 100.675 102.75 ATS Exec MPID Price Override Trading Market Indicator
S1 S1 S1
Execution Time Within the past 15 min of current time
Within the past 15 min of current time
Within the past 15 min of current time
Settlement Date 7/22/2016 7/22/2016 7/29/2016 As Of Indicator Execution Date Current date Current date Commission 150.00 150.00 No Remuneration RP Give Up RP Clearing # Special Price Indicator Special Price Reason Modifier 4 W Client Trade ID Branch Seq # Memo Special Processing A Locked-In Indicator CP Give Up Contra Clearing # Contra Capacity (P/A) Contra Commission Contra Client Trade ID Contra Branch Seq # EXPECTED RESULT
Trade should disseminate on
ATDS
Trade Rejected Trade should disseminate on ATDS
Control Number (if accepted) OR Reject Control Number (if rejected)
Comments
Trade should be identified as “C” in Remuneration field; with price adjusted as per commission rules.
Only trades with Contra Id = A (Non-Member Affiliate trade) can use Special Processing Flag of “A”.
Sale Condition 4 should indicate Weighted Avg Trade; Commission should be included in the price as per pricing rules, but no commission identifier should be present in the “Remuneration” field on ATDS.
FINRA TRACE – Remuneration/ATS MPID 7/9/2016 UAT Test Script
TRADE ENTRY
Field TEST CASE 28 TEST CASE 29 TEST CASE 30
Sub-Product CORP CORP CORP Reporting Party ID Enter Firm MPID Enter Firm MPID Enter Firm MPID Side (Buy/Sell) SELL SELL SELL CUSIP 013817AQ4 013817AQ4 013817AQ4 Symbol AA.HU AA.HU AA.HU Quantity 1,500,000.00 999,999.00 500,000.00 Contra Party ID Enter Firm MPID Enter ATS MPID A Capacity (P/A) P P P Price 85 84.50 85.50 ATS Exec MPID Enter ATS MPID Enter ATS MPID Price Override Trading Market Indicator
S1 S1 S1
Execution Time Within the past 15 min of current time
Within the past 15 min of current time
Within the past 15 min of current time
Settlement Date 7/22/2016 7/22/2016 7/29/2016 As Of Indicator Execution Date Current date Current date Current date Commission No Remuneration RP Give Up RP Clearing # Special Price Indicator Special Price Reason Modifier 4 Client Trade ID Branch Seq # Memo Special Processing Locked-In Indicator CP Give Up Contra Clearing # Contra Capacity (P/A) Contra Commission Contra Client Trade ID Contra Branch Seq # EXPECTED RESULT
Trade should disseminate on
BTDS
Trade should disseminate on BTDS
Trade should reject
Control Number (if accepted) OR Reject Control Number (if rejected)
Comments
Disseminated amount will reflect estimated (capped) quantity of 1MM+. The ATS Indicator should be “Y” on the BTDS feed.
The ATS Indicator should be “Y” on the BTDS feed. Contra Party Type should be “T”.
Customer or affiliate trades with an ATS Exec ID should reject. Only an inter-dealer trade with an ATS Exec MPID is allowed.
FINRA TRACE – Remuneration/ATS MPID 7/9/2016 UAT Test Script
TRADE ENTRY
Field TEST CASE 31 TEST CASE 32 TEST CASE 33
Sub-Product AGCY AGCY AGCY Reporting Party ID Enter Firm MPID Enter Firm MPID Enter Firm MPID Side (Buy/Sell) SELL SELL BUY CUSIP 31315PYW3 31315PYW3 31315PYW3 Symbol AGM3859681 AGM3859681 AGM3859681 Quantity 1,050,000.00 4,000,000.00 250,000.00 Contra Party ID Enter Firm MPID Enter ATS MPID C Capacity (P/A) P P P Price 101 100.50 99.75 ATS Exec MPID Enter ATS MPID Enter ATS MPID Price Override Trading Market Indicator
S1 S1 S1
Execution Time Within the past 15 min of current time
12:00:00 Within the past 15 min of current time
Settlement Date 7/22/2016 7/22/2016 7/22/2016 As Of Indicator YES Execution Date Current date 6/21/2016 Current date Commission No Remuneration RP Give Up RP Clearing # Special Price Indicator Special Price Reason Modifier 4 Client Trade ID Branch Seq # Memo Special Processing Locked-In Indicator CP Give Up Contra Clearing # Contra Capacity (P/A) Contra Commission Contra Client Trade ID Contra Branch Seq # EXPECTED RESULT
Trade should disseminate on
ATDS
Trade should disseminate on ATDS
Trade should reject
Control Number (if accepted) OR Reject Control Number (if rejected)
Comments
The ATS Indicator should be “Y” on the ATDS feed.
Trade should be marked “late” on BTDS. Sale Condition 3 = Z. The ATS Indicator should be “Y” on the ATDS feed. Contra Party Type should be “T”.
Customer or affiliate trades with an ATS Exec ID should reject. Only an inter-dealer trade with an ATS Exec MPID is allowed.
FINRA TRACE – Remuneration/ATS MPID 7/9/2016 UAT Test Script
CANCEL
Field TEST CASE 34 TEST CASE 35 TEST CASE 36
Cancel trade entered
in Test Case 1
Cancel trade entered in
Test Case 5
Cancel trade entered in
Test Case 10
Sub-Product CORP CORP CORP Reporting Party ID Side (Buy/Sell) CUSIP Symbol Quantity Contra Party ID Capacity (P/A) Price ATS Exec MPID Price Override Trading Market Indicator
Execution Time Settlement Date As Of Indicator Execution Date Commission No Remuneration RP Give Up RP Clearing # Special Price Indicator Special Price Reason Modifier 4 Client Trade ID Branch Seq # Memo Special Processing Locked-In Indicator CP Give Up Contra Clearing # Contra Capacity (P/A) Contra Commission Contra Client Trade ID Contra Branch Seq # EXPECTED RESULT
Cancel Disseminated Cancel NOT Disseminated
Cancel Disseminated
Control Number (if accepted) OR Reject Control Number (if rejected)
Comments
Cancel should disseminate on BTDS.
Cancels of trades with quantity of <1000 shares will not disseminate.
Cancel should disseminate on BTDS-144A.
FINRA TRACE – Remuneration/ATS MPID 7/9/2016 UAT Test Script
CANCEL
Field TEST CASE 37 TEST CASE 38 TEST CASE 39
Cancel trade entered
in Test Case 15
Cancel trade entered in
Test Case 23
Cancel trade entered in
Test Case 29
Sub-Product CORP AGCY CORP Reporting Party ID Side (Buy/Sell) CUSIP Symbol Quantity Contra Party ID Capacity (P/A) Price ATS Exec MPID Price Override Trading Market Indicator
Execution Time Settlement Date As Of Indicator Execution Date Commission No Remuneration RP Give Up RP Clearing # Special Price Indicator Special Price Reason Modifier 4 Client Trade ID Branch Seq # Memo Special Processing Locked-In Indicator CP Give Up Contra Clearing # Contra Capacity (P/A) Contra Commission Contra Client Trade ID Contra Branch Seq # EXPECTED RESULT
Cancel Disseminated Cancel Disseminated Cancel Disseminated
Control Number (if accepted) OR Reject Control Number (if rejected)
Comments
Cancel should disseminate on BTDS; Cancel of trade should be identified as “C” in Remuneration field.
Cancel should disseminate on ATDS; Disseminated amount will reflect estimated (capped) quantity of 5MM+; Remuneration field should be marked.
Cancel should disseminate on BTDS; The ATS Indicator should be “Y”.
FINRA TRACE – Remuneration/ATS MPID 7/9/2016 UAT Test Script
CORRECTION
Field TEST CASE 40 TEST CASE 41 TEST CASE 42
Correct trade entered in
Test Case 2
(Commission)
Correct trade entered in
Test Case 3
(Quantity)
Correct trade entered in
Test Case 11 (Remove
Affiliate Special
Processing value and
change quantity)
Sub-Product CORP CORP CORP Reporting Party ID Side (Buy/Sell) CUSIP Symbol Quantity 1,500,000 4,500,000.00 Contra Party ID Capacity (P/A) Price ATS Exec MPID Price Override Trading Market Indicator
Execution Time Settlement Date As Of Indicator Execution Date Commission 100.00 No Remuneration RP Give Up RP Clearing # Special Price Indicator Special Price Reason Modifier 4 Client Trade ID Branch Seq # Memo Special Processing (Remove “A” from orig
transaction) Locked-In Indicator CP Give Up Contra Clearing # Contra Capacity (P/A) Contra Commission Contra Client Trade ID Contra Branch Seq # EXPECTED RESULT
Correction Disseminated on BTDS
Correction Disseminated on BTDS
Correction Disseminated on
BTDS-144A Control Number (if accepted) OR Reject Control Number (if rejected)
Comments
Remuneration field should be disseminated as “C” in the correction part of message.
Quantity should be reflected as estimated. 1MM+.
Correction trade disseminated.
FINRA TRACE – Remuneration/ATS MPID 7/9/2016 UAT Test Script
CORRECTION Field TEST CASE 43 TEST CASE 44 TEST CASE 45
Correct trade entered
in Test Case 19
(Change price and
remove Mod 4 value)
Correct trade entered
in Test Case 28
(Remove ATS Exec ID
and reduce quantity)
Correct trade entered
in Test Case 31
(Change price and ATS
Exec ID)
Sub-Product CHRC CORP AGCY Reporting Party ID Enter Firm MPID Enter Firm MPID Side (Buy/Sell) CUSIP Symbol Quantity 900,000 Contra Party ID Capacity (P/A) Price 102.98 102 ATS Exec MPID (Remove ATS Exec ID
value) (Change value to
another valid ATS Exec ID)
Price Override Trading Market Indicator
Execution Time Settlement Date As Of Indicator Execution Date Commission No Remuneration RP Give Up RP Clearing # Special Price Indicator Special Price Reason Modifier 4 (Remove “W”) Client Trade ID Branch Seq # Memo Special Processing Locked-In Indicator CP Give Up Contra Clearing # Contra Capacity (P/A) Contra Commission Contra Client Trade ID Contra Branch Seq # EXPECTED RESULT
Correction Disseminated on
BTDS
Correction Disseminated on
BTDS
Correction Disseminated on
ATDS Control Number (if accepted) OR Reject Control Number (if rejected)
Comments
Price should be eligible for hi/low/last and W value in Sale Condition field should be blank.
Actual quantity is disseminated in and ATS Indicator is blanked out in correction message.
Price is updated in correction message. ATS Indicator value remains as “Y” in correction message.