FINRA reminds clients that beginning Monday, August 20, 2018, a change to all FIX trade reporting related to the processing of execution time during Daylight Savings Time (DST) will go into effect. This update affects clients’ transaction reports for all FINRA Multi Product Platform products (MPP), including TRACE, the OTC Trade Reporting Facility (ORF), and The Alternative Display Facility (ADF).
Currently, Tag 60 (TransactTime) is a FIX required field, and tag 22007 (ExecutionTime) is a FINRA custom tag used to identify a trade’s execution time. Effective August 20 2018, Tag 60 will be used to indicate the Execution Time for all products and Tag 22007 will be retired from processing use.
Note – In addition to the modifications to Tag 60 described above, beginning on August 20, 2018, the TRACE Corporate and Agency (CA) and TRACE Securitized Products (SP) FIX protocols will require Tag 455 (Instrument/Security AltId) to be included on Trade Acknowledgement – Acknowledgement (CAEN; SPEN) and Trade Capture Report – Confirmed Reversal (CAHX; SPHX) to be sent to the client. This change only affects TRACE CA and SP clients.
Changes to FIX Tag 60 and FIX Tag 455 impacts only clients who submit and receive these messages using the FIX protocol. Clients that use CTCI are not impacted by the stated FIX Tag changes.
Please contact FINRA Product Management or call (866) 899-2107 with questions regarding this notice.