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CAT Alert 2020-04 outlines the standards for self reporting erroneous event to FINRA CAT. This alert provides information about self-reporting, including who may self-report, when to self-report, the considerations for when to self-report, and how to complete and submit the Self-Reporting Erroneous Events Form.

Yes, if the Industry Member routes an order to another Industry Member or a Participant, the Industry Member must report the routing of the order to the CAT. The details that must be reported for the routing of an order are set forth in Section 6.3(d)(ii) of the CAT NMS Plan, as applied to Industry Members by Section 6.4(d)(i) of the CAT NMS Plan. While all routes are required to be reported to CAT, Order Route events for orders that were rejected by the Industry Member or Participant to which the order was routed are not required to be reported in Phases 2a (equity) or 2b (options).

The origination or receipt of an order involving any security that meets the definition of an NMS security pursuant to SEC Rule 600 must be reported to the CAT, regardless of where the order is ultimately executed. This includes any NMS security that is also listed on a foreign exchange (“dually listed”). If the order is sent to a foreign market for execution, the CAT Reporter is required to report the relevant Reportable Events for the order (e.g., origination or receipt of the order and the routing of the order to the foreign market). All prices must be converted into U.S.

Orders received for foreign securities that are OTC Equity Securities must be reported if any resulting executions are subject to transaction reporting under FINRA Rule 6622. CAT reportable orders for foreign securities that are OTC Equity Securities must be reported to CAT using the US symbol and price in US dollars.

This FAQ has been retired. Please refer to FAQ E2.