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16-24 FINRA and ISG Modify Certain Electronic Blue Sheet Data Elements

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Electronic Blue Sheet Submissions

Regulatory Notice
Notice Type

Guidance
Referenced Rules & Regulatory Notices

FINRA Rule 8211
FINRA Rule 8213
Notice to Members 05-58
Regulatory Notice 11-56
Regulatory Notice 12-36
Regulatory Notice 12-47
Regulatory Notice 13-16
Regulatory Notice 13-38
Regulatory Notice 15-44
SEA Rule 13h-1
Suggested Routing

Compliance
Legal
Operations
Senior Management
Key Topics

Blue Sheets

Executive Summary

FINRA and the other U.S. members of the Intermarket Surveillance Group1 (ISG members) have modified certain equity and option data elements for Electronic Blue Sheets (EBS), which will become effective on December 30, 2016. FINRA and the other ISG members are modifying certain equity data elements to be consistent with NYSE Regulation Information Memorandum Number 16-2 and NYSE Arca Equities Regulatory Bulletin Number 16-39.

FINRA and the other ISG members are also updating certain data elements in response to the Securities and Exchange Commission's (SEC) approval, dated June 17, 2016, of the Investors Exchange, LLC (IEX).

Attachment A to this Notice sets forth the EBS record layout, which shows the modifications noted below and changes from the version previously published in Regulatory Notice 15-44.

Questions concerning the EBS enhancements should be directed to ebsfaq@finra.org.

Discussion

FINRA and the other ISG members have modified certain equity and option data elements for EBS, as noted below. FINRA and the other ISG members are modifying certain equity data elements to be consistent with NYSE Regulation Information Memorandum Number 16-2 and NYSE Arca Equities Regulatory Bulletin Number 16-39. These equity and option modifications will become effective on December 30, 2016. It should be noted that broker-dealers may submit the modified values prior to December 30, 2016; and FINRA, the other ISG members and the SEC will accept them.

The following Transaction Type Identifiers were removed for equity and modifications were made to Attachment A of this Notice:

•   Non-Index Arbitrage, Program Trading, Proprietary = 'C'
•   Index Arbitrage, Program Trading, Proprietary = 'D'
•   Index Arbitrage, Program Trading, Individual Investor = 'J'
•   Non-Index Arbitrage, Program Trading, Individual Investor = 'K'
•   Non-Program Trading, Individual Investor = 'I'
•   Non-Index Arbitrage, Program Trading, Agency = 'Y'
•   Index Arbitrage, Program Trading, Agency = 'U'
•   Designated Market Makers = 'S'

The following Transaction Type Identifier was added for equity and a modification was made to Attachment A of this Notice:

•   Riskless Principal = 'R'

Additionally, the following Transaction Type Identifiers were removed for options and modifications were made to Attachment A of this Notice:

•   Designated Market Makers = 'S'
•   Stock Specialist—Assignment = 'Y'
•   Registered Trader Market Maker Transaction Regardless of the Clearing Number = 'P'

The following Transaction Type Identifier was renamed for options and a modification was made to Attachment A of this Notice:

•   From Voluntary Professional to Professional Customer = 'R'

FINRA and the other ISG members are also updating certain data elements in response to the SEC's approval, dated June 17, 2016, of the IEX. For Blue Sheet reporting purposes, broker-dealers should be consistent with the option that they selected when submitting orders to OATS during the transition period.

The following Requestor Code was added and a modification was made to Attachment A of this Notice:

•   Investors Exchange, LLC = '3'

The following Exchange Code was added and a modification was made to Attachment A of this Notice:

•   Investors Exchange, LLC = '3'

Broker-dealers are reminded that failure to properly fill out the EBS fields is a violation of FINRA Rule 8211 or 8213.


1. The U.S. members of the ISG include the following exchanges and self-regulatory organizations (SROs): BATS Exchange, Inc., BATS Y-Exchange, Inc., Chicago Board Options Exchange, Inc., C2 Options Exchange, Inc., CBOE Stock Exchange, LLC, Chicago Stock Exchange, Inc., EDGA Exchange, Inc., EDGX Exchange, Inc., FINRA, International Securities Exchange, LLC, The NASDAQ Stock Market LLC, NASDAQ OMX BX, Inc., NASDAQ OMX PHLX LLC, National Stock Exchange, Inc., New York Stock Exchange, LLC, NYSE MKT, LLC, NYSE Area, Inc., BOX Options Exchange, LLC, Miami International Securities Exchange, ISE Gemini and ISE Mercury.


Attachment A— Record Layout for Submission of Trading Information

Field Position Field Length Field Name/Description/Remarks Field Format Justify Picture Clause Default Value
From To
  ***This record must be the first record of the file***  
1 3 3 FILLER A LJ X(3) HDR
4 5 2 FILLER A LJ X(2) .S
6 10 5 DTRK-SYSID N LJ 9(5) 12343
11 12 2 FILLER A LJ X(2) .E
13 14 2 FILLER N LJ 9(2) 00
15 16 2 FILLER A LJ X(2) .C
17 20 4 DTRK-ORIGINATOR
Please contact SIAC for assignment at efp-support@nyse.com
A LJ X(4) --
21 22 2 FILLER A LJ X(2) .S
23 26 4 DTRK-SUB-ORIGINATOR
Please contact SIAC for assignment at efp-support@nyse.com
A LJ X(4) --
27 27 1 FILLER A LJ X(1) B
28 33 6 DTRK-DATE
Contains submission date.
N LJ 9(6) MMDDYY
34 34 1 FILLER A LJ X(1) B
35 59 25 DTRK-DESCRIPTION
Required to identify this file.
A LJ X(25) FIRM TRADING INFORMATION
60 80 21 FILLER A LJ X(21) B
1 1 1 HEADER RECORD CODE
Value: Low Values OR ZERO
A -- X --
2 5 4 SUBMITTING BROKER NUMBER
If NSCC member use NSCC clearing number.
If not a NSCC member, use clearing number assigned to you by your clearing agency.
A–R LJ X(4) B
6 40 35 FIRM'S REQUEST NUMBER
Tracking number used by the firm to record requests from an organization.
A -- X(35) B
41 46 6 FILE CREATION DATE
Format is YYMMDD
A -- X(6) --
47 54 8 FILE CREATION TIME Format
is HH:MM:SS
A -- X(8) --
55 55 1 REQUESTOR CODE
Requesting Organization Identification Values:
A = New York Stock Exchange
B = NYSE MKT, LLC
C = Chicago Stock Exchange
D = NASDAQ OMX
E = NYSE Arca
F = NASDAQ OMX BX, Inc.
G = National Stock Exchange
H = BATS Exchange, Inc. (Equity and Options)
I = International Securities Exchange, ISE Gemini and ISE Mercury
J = EDGA Exchange and EDGX Exchange (Equity and Options)
K = Chicago Board Options Exchange, C2 Options Exchange and CBSX (CBOE Stock Exchange)
R = FINRA
U = BOX Options Exchange, LLC
X = U.S. Securities and Exchange Commission
Y = BATS Y-Exchange, Inc.
3 = Investors Exchange, LLC
7 = Miami International Securities Exchange
A -- X --
56 70 15 REQUESTING ORGANIZATION NUMBER
Number assigned by requesting organization
A LJ X(15) B
71 80 10 FILLER A -- X(10) B
1 1 1 RECORD SEQUENCE NUMBER ONE
The first record of the transaction. Value: 1
A -- X --
2 5 4 SUBMITTING BROKER NUMBER
Identical to Submitting Broker Number in Header Record
A–R LJ X(4) --
6 9 4 OPPOSING BROKER NUMBER
The NSCC clearing house number of the broker on the other side of the trade.
A–R LJ X(4) B
10 21 12 CUSIP NUMBER
The cusip number assigned to the security.
Left justified since the number is nine characters at present (8+ check digit) but will expand in the future.
A LJ X(12) B
22 29 8 TICKER SYMBOL
The symbol assigned to this security. For options (pre-OSI), the OPRA option symbol (space), OPRA expiration month symbol and OPRA strike price symbol should be used. (Ex. Maytag May 20 call option series would be reported as MYG ED. This example uses six spaces in the field with a space between the OPRA symbol and the OPRA expiration month.)

Post OSI this field must contain OPTIONXX and a Record Sequence Number Six must be completed
A–R LJ X(8) B
30 35 6 TRADE DATE
The date this trade executed.
Format is YYMMDD.
A–R -- X(6) B
36 41 6 SETTLEMENT DATE
The date this trade will settle.
Format is YYMMDD
A -- X(6) B
42 53 12 QUANTITY
The number of shares or quantity of bonds or option contracts.
N–R RJ 9(12) Z
54 67 14 NET AMOUNT
The proceeds of sales or cost of purchases after commissions and other charges.
N RJ S9(12) V99 Z
68 68 1 BUY/SELL CODE
Values: 0 = Buy, 1 = Sale, 2 = Short Sale, 3 = Buy Open, 4 = Sell Open, 5 = Sell Close, 6 = Buy Close. A = Buy Cancel, B = Sell Cancel, C = Short Sale Cancel, D = Buy Open Cancel, E = Sell Open Cancel, F = Sell Close Cancel, G = Buy Close Cancel. Values 3 to 6 and D to G are for options only
A–R -- X B
69 78 10 PRICE
The transaction price. Format: $$$$ CCCCCC.
N–R RJ 9(4)V(6) Z
79 79 1 EXCHANGE CODE
Exchange where trade was executed. Values:
A = New York Stock Exchange
B = NYSE MKT, LLC (Equity and Options)
C = Chicago Stock Exchange
D = NASDAQ OMX PHLX
E = NYSE Arca (Equity and Options)
F = NASDAQ OMX BX, Inc.
G = National Stock Exchange
H = BATS Exchange, Inc. (Equity and Options)
I = International Securities Exchange (Options Only)
J = C2 Options Exchange
K = Chicago Board Options Exchange
L = London Stock Exchange
M =Toronto Stock Exchange
N = Montreal Stock Exchange
0=TSX Venture Exchange
P = EDGA Exchange
Q=FINRA ADF
R = NASDAQ OMX/NASDAQ OMX Options Market
S = Over-the-Counter
T = Tokyo Stock Exchange
U = BOX Options Exchange, LLC
V= EDGX Exchange (Equity and Options)
W = CBSX (CBOE Stock Exchange)
X = NASDAQ OMX PSX
Y= BATS Y-Exchange, Inc. Z = Other
1= ISE Gemini
2= ISE Mercury
3= Investors Exchange, LLC
7 = Miami International Securities Exchange
A–R -- X B
80 80 1 BROKER/DEALER CODE
Indicate if trade was done for another Broker/Dealer.
A–R -- X B
1 1 1 RECORD SEQUENCE NUMBER TWO
Value: 2
A -- X --
2 2 1 SOLICITED CODE
Values: 0 = No; 1 = Yes
A–R -- X B
3 4 2 STATE CODE
Standard Postal two character identification.
A–R -- X(2) B
5 14 10 ZIP CODE/COUNTRY CODE
Zip Code-five or nine character (zip plus four)
Country code-for future use.
A–R LJ X(10) B
15 22 8 BRANCH OFFICE/REGISTERED REPRESENTATIVE NUMBER
Each treated as a four-character field.
Both are left justified.
A–R LJ X(8) B
23 28 6 DATE ACCOUNT OPENED
Format is YYMMDD
A–R -- X(6) B
29 48 20 SHORT NAME FIELD
Contains last name followed by comma (or space) then as much of first name as will fit.
A LJ X(20) B
49 78 30 EMPLOYER NAME A LJ X(30) B
79 79 1 TIN 1 INDICATOR
Values: 1 = SS#; 2 = TIN
A–R -- X B
80 80 1 TIN 2 INDICATOR
Values: 1 = SS#; 2 = TIN-for future use.
A -- X B
1 1 1 RECORD SEQUENCE NUMBER THREE
Value: 3
A -- X --
2 10 9 TIN ONE
Taxpayer Identification Number
Social Security or Tax ID Number.
A–R LJ X(9) B
11 19 9 TIN TWO
Taxpayer Identification Number #2
Reserved for future use.
A LJ X(9) B
20 20 1 NUMBER OF N&A LINES A -- X B
21 50 30 NAME AND ADDRESS LINE ONE A–R LJ X(30) B
51 80 30 NAME AND ADDRESS LINE TWO A–R LJ X(30) B
1 1 1 RECORD SEQUENCE NUMBER FOUR
Value: 4
A -- X --
2 31 30 NAME AND ADDRESS LINE THREE A–R LJ X(30) B
32 61 30 NAME AND ADDRESS LINE FOUR A–R LJ X(30) B
62 62 1 TRANSACTION TYPE IDENTIFIERS
See Attachment B for current codes.
A–R -- X B
63 80 18 ACCOUNT NUMBER
Account number
A–R LJ X(18) B
1 1 1 RECORD SEQUENCE NUMBER FIVE
Value: 5
A -- X(1) --
2 31 30 NAME AND ADDRESS LINE FIVE A–R LJ X(30) B
32 61 30 NAME AND ADDRESS LINE SIX A–R LJ X(30) B
62 65 4 PRIME BROKER
Clearing number of the account's prime broker.
A–R LJ X(4) B
66 66 1 AVERAGE PRICE ACCOUNT
1= recipient of average price transaction.
2= average price account itself.
N–R -- 9(1) Z
67 71 5 DEPOSITORY INSTITUTION IDENTIFIER
Identifying number assigned to the account by the depository institution.
A–R LJ X(5) B
72 77 6 Order Execution Time
HHMMSS—Time format will be in Eastern Time and 24 hour format.
A–R LJ -- --
78 80 3 FILLER A -- X B
1 1 1 RECORD SEQUENCE NUMBER SIX
Value: 6
A -- --  
2 9 8 DERIVATIVE SYMBOL
The symbol assigned to the derivative
A–R LJ -- B
10 15 6 EXPIRATION DATE
The date the option expires. Format is YYMMDD
A–R -- -- B
16 16 1 CALL/PUT INDICATOR
C = Call, P = Put
A–R -- -- B
17 24 8 STRIKE DOLLAR
The dollar amount of the strike price
N–R RJ -- Z
25 30 6 STRIKE DECIMAL
The decimal amount of the strike price
N–R LJ -- Z
31 80 50 FILLER A LJ -- B
1 1 1 RECORD SEQUENCE NUMBER SEVEN
Value: 7
A -- --  
2 14 13 Large Trader Identification 1 A–R LJ -- Z
15 27 13 Large Trader Identification 2 A–R LJ -- Z
28 40 13 Large Trader Identification 3 A–R LJ -- Z
41 41 1 Large Trader Identification Qualifier A–R LJ -- Z
42 49 8 Primary Party Identifier
Identity of the party to the trade that is represented by the Submitting Broker of an EBS. Acceptable values include MPID, CRD or OCC Clearing Number.
A–R LJ -- B
50 57 8 Contra Party Identifier
Identity of the contra party to the trade that is represented by the Opposing Broker of an EBS. Acceptable values include MPID, CRD or OCC Clearing Number.
A–R LJ -- B
58 80 23 FILLER A LJ -- B
1 1 1 TRAILER RECORD DATE
One record per submission. Must be the last record on the file. Value: High Values or "9"
A -- X --
2 17 16 TOTAL TRANSACTIONS
The total number of transactions.
This total excludes Header and Trailer Records.
N RJ 9(16) B
18 33 16 TOTAL RECORDS ON FILE
The total number of 80 byte records.
This total includes Header and Trailer Records, but not the Datatrak Header Record (i.e., it does not include the first record on the file).
N RJ 9(16) Z
34 80 47 FILLER A -- X(47) B
               
      Field Format
A = Alphanumeric (all caps)
N = Numeric
P = Packed
B = Binary
R = Validation Required
Default Values B =Blanks
Z= Zero
Justify RJ = Right Justification of Data
LJ = Left Justification of Data
   

Attachment B—Record Layout for Submission of Trading Information

Transaction Type Security Type
Equity* Options
Non-Program Trading, Agency A C
Non-Program Trading, Agency, Proprietary P F
Market-Maker   M
Non-Member Market-Maker/Specialist Account   N
Customer Range Account of a Broker/Dealer   B
Error Trade Q  
Professional Customer   W
Joint Back Office   J
Riskless Principal R  

* Equity securities include those securities that trade like equities (e.g., ETFs and structured products). ©2015 FINRA. All rights reserved.


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