Report Card: Transaction Open Issues List
Last Updated: 11/21/2024
| # | Summary | Impact | Scope | Impacted Dates | Resolution | Target Resolution Date |
|---|---|---|---|---|---|---|
| 1 | FINRA CAT did not recognize the early close and improperly marked events that occurred between 1:15 and 4:15 pm ET and were reported by 8 am ET on the next CAT Trading Day as late events. Impact is limited to days when the market closes early. | Error rate is overstated | De minimis impact to overall compliance error rate | November 2020 - present | Go-forward fix | TBD |
| 2 | In very limited instances where multiple intrafirm linkage errors occur for the same event and the repair status for the errors is different, the repaired counts for both the Firm Designated Errors and Intrafirm Unlinked errors on the monthly Report Cards are overstated/understated. This does not impact the overall compliance error rate because only unique errors and repairs are counted across all linkage categories. | FDID errors and Intrafirm Linkage errors are understated or overstated | No impact to overall compliance error rate | June - present | Go-forward fix | TBD |
Report Card: Transaction Closed Issues List
Last Updated: 11/21/2024
| # | Summary | Impact | Scope | Impacted Dates | Resolution | Target Resolution Date |
|---|---|---|---|---|---|---|
| 1 | Improperly excluding counts for events occurring on the first trade day of a month, and reported early, such that the event was received on the last processing date of the prior month. For example, event occurs on 12/1/2020 at 5am, and is reported to CAT on 12/1/2020 before 8am, which is the processing date for CAT Trading Day of 11/30/2020. | Events and any related errors are excluded from the report card. | De minimis impact to overall compliance error rate | July 2020 - March 2021 | Data Fix | March 2021 |
| 2 | FINRA CAT incorrectly generated duplicate quote route key errors on MEQR events and erroneous unlinked errors on MERQ events on 12/13/2021. | Erroneous Errors | Overstated Compliance Rate | 12/13/2021 | Data Fix | February 2022 |
| 3 | FINRA CAT incorrectly generated unlinked exchange route errors from 12/08/2021 to 12/10/2021 due to duplicate errors on exchange data. | Erroneous Errors | Overstated Compliance Rate | 12/08/2021 to 12/10/2021 | Data Fix | February 2022 |
| 4 | FINRA CAT incorrectly generated unlinked exchange route errors from 12/13/2021 to 12/17/2021 for equity electronic cross orders due to erroneous route link key duplicate errors on exchange data. | Erroneous Errors | Overstated Compliance Rate | 12/13/2021 to 12/17/2021 | Data Fix | February 2022 |
| 5 | FINRA CAT incorrectly generated Intrafirm parent not found errors on subsequent events in instances where a multi-leg order is split into a simple option or simple equity child order or internal route event. For example, an MLNO is followed by a MECO for a single equity leg; any subsequent event, such as a cancellation (MECOC), generates a parent not found error. | Erroneous Errors | Overstated Compliance Rate | 12/13/2021 to 12/29/2021 | Data Fix | February 2022 |
| 6 | FINRA CAT incorrectly generated MOOT Unlinked events in instances where the exchange side of the trade does not have order details on either side. | Erroneous Errors | Overstated Compliance Rate | 12/13/2021 to 12/22/2021 | Data Fix | February 2022 |
| 7 | FINRA CAT incorrectly generated out of sequence errors for subsequent quote events in instances when the new quote events are reported with the same quote key. | Erroneous Errors | Overstated Compliance Rate | 12/13/2021 to 1/14/2022 | Data Fix | February 2022 |
| 8 | 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. | Erroneous Errors | Overstated Compliance Rate | 12/13/2021 to present | Go-forward fix | April 2022 |
| 9 | Trade Counts and Percentages being displayed as 0. | Error rate is overstated | Display issue only. No impact to Overall Compliance Error Rate | June, 2022 | June Report Card was republished | 7/25/22 |
10 | Repairs not reflected in very limited cases. | Error rate is overstated | De minimis impact to overall compliance error rate | July - present | Go-forward fix | End of February 2024 |
11 | Unique ROE IDs that are unlinked for multiple reasons on different processing dates are improperly counted once per processing date. Please note unique ROE IDs that are unlinked for multiple reasons on the same processing date are correctly counted once. | Error rate is overstated | De minimis impact to overall compliance error rate | August - present | Go-forward fix | End of February 2024 |
12 | The June, July and August 2024 CAT Transaction Report Cards were impacted by a rate calculation issue that resulted in FDID Error Rates being overstated. This issue only impacts the FDID Error Rate displayed and not Industry Members' Overall Compliance Error Rates. Additional notifications will be sent once the issue is resolved and a republish date has been determined. | FDID Error Rate was overstated | No impact to overall compliance error rate | June 2024 through August 2024 | This issue will be resolved with the September 2024 Report Card. The June, July and August 2024 Report Cards will be republished no later than October 31, 2024 with a Report Card Version of “2”. | 10/15/2024 |