CAT Transaction- Known Issues List

Code Release

Closed

Code Release

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.

Intrafirm
Feedback

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.
   

The following update to the Industry Member Technical Specifications (2d) v4.0.0 r20 was published on 7/31/23 and became effective on 9/18/23.

• Add new ‘MEMXOP’ value for the following fields: destination, marketCenterID and senderIMID to support MEMX Options exchange.

209

Closed

2045

Code  Release

Complete

10/23/2023 - Test

 N/A - Prod

Ingestion Validations

210

Closed

9003
9004

Code Release

Complete

1/17/2023 - Test

1/26/2024 - Prod

Interfirm Linker Feedback

211

Closed

N/A

The following updates to the Industry Member Technical Specifications (2d) v4.1.0 were published on 11/30/2023 and became effective on 2/5/2024.

Auction-related handlingInstructions updates:

• Add new ‘AUC’, ‘APCL’, ‘APCM’ auction handlingInstructions values.
• Update description of 'AOK'.

Code Release

Complete

1/22/2024 - Test

2/5/2024 - Prod

IM Technical Specifications Update

212

Closed

N/A

The following update to the Industry Member Technical Specifications (2d) v4.0.0r14 was published on 3/25/2022 and became effective on 2/26/2024. 
 

• Validate values supplied in firmDesignatedID fields against CAIS data.

Code Release

Complete

5/16/2022 - Test

2/26/2024 - Prod

IM Technical Specifications Update

213

Closed

N/A

The following updates to the Industry Member Technical Specifications (2d) v4.0.0r15 were published on 5/16/2022 and became effective on 2/26/2024. 

• Add new intrafirm linkage warning error code: 395 - Early Reported Event.
• Provide a new linkage summary feedback file containing missing or invalid FDIDs.

Code Release

Complete

6/20/2022 - Test

2/26/2024 - Prod

IM Technical Specifications Update

214

Closed

N/A

The following update to the Industry Member Technical Specifications (2d) v4.0.0r18 was published on 12/16/2022 and became effective on 2/26/2024. 
 

• CAT will consider both the tradeDate and the Event Date when validating that the value provided on the firmDesignatedID on allocation events are valid in CAIS. 

Code Release

Complete

1/10/2023 - Test

2/26/2024 - Prod

IM Technical Specifications Update

215

Closed

N/A

The following update to the Industry Member Technical Specifications (2d) v4.1.0 was published on 11/30/2023 and became effective on 7/1/2024. 

• Remove 'IDX' handlingInstructions value.

05/13/2024 - Test

07/01/2024 - Prod

216

Closed

N/A

The following update to the Industry Member Technical Specifications (2d) v4.1.0r2 was published on 03/28/2024 and became effective on 7/1/2024. 

• Add new ‘PCTPX’ handlingInstruction value with the following description:

Indicates that the limit price provided in the price field is specified as a percentage of a benchmark price. For example, price=7.25 indicates that the limit price of the order is 7.25% of the closing price of the underlying security. This value will be Boolean.

The Compliance date for CAT Reporting is 7/1/2024.

05/13/2024 - Test

07/01/2024 - Prod

 TF2024-03

Closed

2250

Code Release

Complete

6/3/24 - Test

N/A - Prod

Ingestion Feedback

TF2024-04

Closed

2091

Code Release

Complete

6/3/24 - Test

N/A - Prod

Ingestion Feedback

TL2024-02

Closed

3503

FINRA CAT is incorrectly not generating “parent not found” errors for the fulfillment events with fulfillmentLinkType values ‘YE’ and ‘FOR’ when the customer side of the fulfillment event does not link to a parent order.

For example, when a customer MENO is not reported to CAT and the MEOF linking to the customer order is reported with fulfillmentLinkType of ‘YE’, the parent not found error is incorrectly not generated for the MEOF event.

Code Release

Complete

06/2024 - Test

06/2024 - Prod

Intrafirm

TL2024-03

Closed

5004

Code Release

Complete

07/12/2024 - Test

07/12/2024 - Prod

Trade
Linker Feedback

TL2024-04

Closed 

8004

Code Release 

Complete

12/16/2024 - Test

12/16/2024 - Prod

Ingestion Validations, Interfirm Linker Feedback & Statistics

Increase Portal Display limitation for Linkage Errors from current display limitation of 10,000 errors to display up to 10,000 FDID Validation Errors and up to 10,000 other linkage errors per IMID and process date. If there are more than 10,000 errors per IMID and process date for either error category, no errors will be displayed for that category of errors.

Go-Forward implementation starting on 4/8/2024 process date.

Code Release

2

Closed 

N/A

Code Release

Complete

11/18/2024 - Test 
11/18/2024 - Prod 

Ingestion Validations, Reporter Portal & Statistics