CAT Transaction- Known Issues List

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FINRA CAT Network Team is assisting some firms with additional details related to their use of IP proxy-based access. 

FINRA CAT is updating the Connectivity Supplement with additional firewall and URL information in support of Industry member’s use of IP Proxy based access. These details are also provided in the Appendix of the 12/17 Industry Release Checkpoint Presentation.

FINRA CAT is accepting some timestamps with an invalid syntax.

Intrafirm
Feedback

The Accepted Late on the Reporter Portal incorrectly includes rejections. Compliance Error Rate is accurate and is not impacted by this issue.
 

Reporter Portal

Ingestion Feedback

Reporter Portal

For events unlinked for both Intrafirm and Interfirm, the error is only reflected in the Intrafirm Error count on the Reporting Summary page.

Complete

The below values are not yet implemented:

• handlingInstructions values ‘TTF’, ‘TTO’, and ‘TTS’. 

FINRA CAT is incorrectly rejecting records in instances where marketCenterID is populated and reportingExceptionCode is populated with a value of ‘C’.

Multiple updates to the Industry Member Technical Specifications (2d) v4.0.0 r10 published on 8/2/21 and became effective on 10/11/21.

• Change the TIDType field from Required to Optional and note that TIDType may be required at a future date no sooner than July 11, 2022.
• Remove leavesQty from Route Modification and Route Cancellation events.
• Correct priorOrderID on MOOM event from Required to Conditional.
• Add timeInForce field to MOOMR and MLOMR to be consistent with MEOMR event.
• Add handlingInstructions value ‘PBG’ (Price Based on Greeks).
• Add supplement events for MEMR, MECR, MOMR, and MOCR to supplement the routeRejectedFlag. Clarify requirements for managing routeRejectedFlag on MLMR and MLCR events and use of MLOS event.

Multiple updates to the Industry Member Technical Specifications (2d) v4.0.0 r11 published on 10/8/21 and became effective on 10/11/21.

• Make numberOfLegs field optional on the following cancel events: MLCR, MLIC, MLICR, MLCOC.
• Add handlingInstructions value ‘PCS’ (Position Compression Service).
• Retire value 'AVP' from the allocationType field.
• Add handlingInstructions value ‘ERP’ (Exchange Retail Provider).

The following update to the Industry Member Technical Specifications (2d) v4.0.0 r10 published on 8/2/21 and became effective on 10/25/21.

• Clarify that tradeDate will be used to validate symbol validity on allocation events.

The following updates to the Industry Member Technical Specifications (2d) v4.0.0 r11 were published on 10/8/21 and became effective on 11/15/21.

• Change electronicTimestamp field on MEOT and MOOT events from conditional to optional.
• Clarify that legDetails.openCloseIndicator must be blank for equity orders.
• For Multi-Leg Option Events, clarify that price must be blank when i is 'MKT'.
• Add handlingInstructions value ‘MAX’ (OTC Link ATS Message MAX instruction).
• Add deptType as an optional field to the MLOA event. In Q1 2022, this field will be changed from optional to required.
• Add clearingFirm as an optional field to the MOOT event. In Q1 2022, this field will be changed from optional to required.

The following update to the Industry Member Technical Specifications (2d) v4.0.0 r12 was published on 12/20/21; however the updated guidance was communicated to the Industry on 11/10/21 for 2d reporting purposes: 

• Update the description of cancelQty to allow a value of ‘0’ to indicate that the cancel was for the full remaining quantity.

The following updates to the Industry Member Technical Specifications (2d) v4.0.0 r12 were published on 12/20/21; however, the guidance was communicated to the industry for 2d reporting purposes on 12/7/21:

• Add a note to Appendix E.3 that Named Errors for Exchange Trade Linkage breaks (exchange floor trade events where a corresponding MOOT event is missing) are not currently available. 

The following updates to the Industry Member Technical Specifications (2d) v4.0.0 r12 were published on 12/20/21 and the effective date became 11/15/21

• Add handlingInstructions value ‘SLL’ (Strategy Legs Later).
• Add handlingInstructions value ‘ALGS’ (Indicates that the event is part of an algorithmic strategy where the specific quantity may not be explicitly provided).

The following updates to the Industry Member Technical Specifications  (2d) v4.0.0 r14 were published on 3/25/22 and the effective date became 3/21/2022: 

Added new error codes to reject Multi-Leg events

• 2224 - symbol in legDetails not valid on Event Date.
• 2225 - optionID in legDetails not valid on Event Date.

FINRA CAT is incorrectly generating Intrafirm parent not found errors on simple option or simple equity route modification and cancellation events that are associated with a multi-leg order. 

For example, an MLNO is followed by a MOOR for a single option leg; any modification (MOMR) or cancellation (MOCR) of this route generates a parent not found error.

Multiple updates to the Industry Member Technical Specifications (2d) v4.0.0 r11 and v4.0.0 r14 published on 10/8/22 and 3/25/22, respectively, and became effective on 7/11/22: 

• Reject MEOT records if buyDetails.side field is populated with values SL, SS, SX or if the sellDetails.side field is populated with value B.
• Remove the TIDType field from the Allocation events.
• Add accountHolderType field to the Allocation events.
• Reject Equities and Simple Options events if the price field is populated with negative values.

Add the following error code to reject Trade events:
2227 - Invalid combination of orderIDs between buyDetails and sellDetails.

Add the following error code to reject Order Fulfillment events:
2228 - Invalid combination of orderIDs between firmDetails and clientDetails.

FINRA CAT is incorrectly reporting inflated counts of FDID validation errors in Linkage Error Summary feedback files. This results in the feedback counts not matching the FDID statistics in the Reporting Summary. 

Reporting Summary counts are accurate.

The following update to the Industry Member Technical Specifications (2d) v4.0.0 r16 was published on 7/29/22 and became effective on 12/5/22.

• Change the cancelQty field on Request events (MEICR, MEOCR, MOICR, MOOCR, MLICR, and MLOCR) from Conditional to Required.

The following update to the Industry Member Technical Specifications (2d) v4.0.0 r12 was published on 12/20/21 and became effective on 12/5/22.

• Add new event – MLOE – Multi-Leg Order Effective event.

The following update to the Industry Member Technical Specifications (2d) v4.0.0 r16 was published on 7/29/22 and became effective on 12/5/22.

• Change the multiLegInd field from Conditional to Required.

The following update to the Industry Member Technical Specifications (2d) v4.0.0 r16 was published on 7/29/22 and became effective on 12/5/22.

• Change the data type of ‘CASH’ handlingInstructions from Boolean to Price.

The following update to the Industry Member Technical Specifications (2d) v4.0.0 r16 was published on 7/29/22 and became effective on 12/5/22.

• Reject Multi-Leg events if the value supplied in the underlying field is invalid.

The following update to the Industry Member Technical Specifications (2d) v4.0.0 r16 was published on 7/29/22 and became effective on 12/5/22.

• Add deskOrderID field to Order Internal Route events to uniquely identify MEIC, MEICR, MEIM, MEIMR, MEIR, MOIC, MOICR, MOIM, MOIMR, MOIR, MLIC, MLICR, MLIM, MLIMR, MLIR.

The following update to the Industry Member Technical Specifications (2d) v4.0.0 r16 was published on 7/29/22 and became effective on 12/5/22.

• Remove metadata file submission requirement and related file integrity errors.

The following update to the Industry Member Technical Specifications (2d) v4.0.0 r16 was published on 7/29/22 and became effective on 12/5/22.

• Change the tapeTradeID field on Option Trade Event from Conditional to Required.

The following update to the Industry Member Technical Specifications (2d) v4.0.0 r16 was published on 7/29/22 and became effective on 12/5/22.

• Add priorDeskOrderID field to MEIM, MOIM, MLIM.

The following updates to the Industry Member Technical Specifications (2d) v4.0.0 r16 were published on 7/29/22 and became effective on 12/5/22.

• Add the following new error codes:
  2229- Invalid deskOrderID
  2230- Invalid priorDeskOrderID

The following updates to the Industry Member Technical Specifications (2d) v4.0.0 r18 were published on 12/16/22 and became effective on 12/5/22.

• Starting December 5, 2022, allow Industry Members to report notional orders with quantity = 0 along with the 'CASH' handlingInstructions value.

• Update section 2.4.2.1 FDID Validation to indicate that the FDID validation process in the test environment uses CAIS data from the production environment.

The following updates to the Industry Member Technical Specifications (2d) v4.0.0 r16 were published on 7/29/22 and became effective on 3/27/23.

Make changes to support the IMs using FINRA ADF for posting quotes.

1. Add new event - MENQS - New Quote Supplement event.
2. Add new event - MERQS - Quote Route Supplement event.
3. Add representativeQuoteInd, askAggregatedOrders, and bidAggregatedOrders fields to MENQ event.
4. Add destinationType and session to MERQ event.
 

The following updates to the Industry Member Technical Specifications (2d) v4.0.0 r18 were published on 12/16/22 and became effective on 3/27/23.

To support IMs using FINRA ADF, change firmDesignatedID and accountHolderType fields on MENQ event from Required to Conditional.

The following updates to the Industry Member Technical Specifications (2d) v4.0.0 r19 were published on 4/11/23 and became effective on 7/24/23.

• Effective July 24, 2023, the Metadata File submission will no longer be supported. If a Metadata file is submitted, it will be rejected at File Acknowledgement stage of Processing. Retire associated Error Codes.
• Add additional validations for handlingInstructions under Error Code 2036: 
  1.    Restrict allowed paired Values for ‘CASH’, ‘SWQ’ and ‘SW’ to be greater than zero.
  2.    Restrict allowed paired Value for ‘DISP’ to be greater than or equal to zero.
• Change unsolicitedInd field on MENQ event from Required to Conditional. Update description to specify that the unsolicitedInd field must be blank when the representativeQuoteInd field is populated.
• Add the following Error Code to reject New Quote events:
  2246 - Invalid combination of unsolicitedInd and representativeQuoteInd.