TRACE Production User Test Script for Remuneration and ATS ... · FINRA TRACE – Remuneration/ATS MPID 6/25/2016 UAT Test Script TRACE Production User Test Script for Remuneration
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FINRA TRACE – Remuneration/ATS MPID 6/25/2016 UAT Test Script
TRACE
Production User Test Script for Remuneration and ATS MPID
(Securitized Products Securities)
June 25, 2016
Time: 9 a.m. – 12 p.m. ET
Dial-in: 800.519.4276
Pass code: 8584438
The following script can be used to test the entry and dissemination of Remuneration trades
and trades using an ATS MPID for TRACE Securitized Products securities. In addition, if
eligible, these transactions will appear in the specific TRACE data feed (SPDS, SPDS-144A)
and the TRAQS Time and Sales scan (for authorized users) for the relevant security
transactions. The test script allows users to enter Trades, Cancels and Corrections for SP sub-
products: Asset Backed Securities (ABS), Asset Backed Securities Exempt (ABSX),
Collateralized Mortgage Obligations (CMO), Mortgage Backed Securities (MBS) and To Be
Announced (TBA).
Please note that testing is open for all participants to input the following test cases, using the
listed securities, however firms are free to test “off-script” so transactional data not covered
in this script may appear in the feed(s) and in Time and Sales.
Other testing notes:
Test cases in this test script are suggested test cases only. Firms are free to use their
own test cases and use other valid security symbols to perform their test. Firms may submit trades via FIX, CTCI and TRAQS Web input.
The No Remuneration Indicator field should be used whenever a commission or
markup/markdown is not assessed on the trade at the time of execution. An entry of
“N” indicates the trade does not include remuneration of any kind. A blank value
indicates the trade does include remuneration.
The No Remuneration Indicator value of “N” may only be used on Secondary (S)
trades. Trades designated as Primary (P) which include the No Remuneration
Indicator as “N” will be rejected.
The No Remuneration value of “N” can also only be used on Customer or Affiliate
trades. Interdealer trades will be rejected if the No Remuneration value of “N” is
submitted on a transaction.
FINRA TRACE – Remuneration/ATS MPID 6/25/2016 UAT Test Script
Firms can identify trades as an ATS execution. The “ATS Execution MPID” field
allows firms to specify the ATS platform of the execution by using the MPID
assigned to that ATS. A list of valid ATS Exec MPIDs is provided in the table
below.
ATS firms may report trades or be alleged (Contra Party) on trades or may not have
the ATS on either side.
On Contra Party ID field where “Enter Firm MPID” is stated, please enter any valid
broker-dealer MPID as your contra party.
Clearing Numbers are optional and may be entered if desired.
The Branch Sequence Number and Memo fields are optional and may be entered if
desired.
Firms can assign a Client Trade ID on each trade report and Cancel and Correct using
a either the Client Trade ID or the TRACE Control Number.
Unless a time is specified in the script, please use the current time as your Execution
Time.
For testing, the current business date will be 6/25/2016, which should be used as the
Execution Date where the field indicates “Current Date”.
Test cases in this test script are suggested test cases only. Firms are free to use their
own test cases and use other valid security symbols to perform their test.
FINRA TRACE – Remuneration/ATS MPID 6/25/2016 UAT Test Script
Securities that will be used for testing in this script:
Symbol CUSIP Sub Product 144A Grade
GM4106817 03064LAF7 ABS NO Investment Grade
SMBA3602737 83162CTX1 ABS NO Investment Grade
BSNX3288000 12328MAL5 ABS YES High Yield
SPCR4165571 850228AC1 ABS YES High Yield
NBGL4184381 64128QAG0 ABSX YES Investment Grade
FMCC3515649 02R0426C7 TBA-GD NO Investment Grade
FMCC2263884 31337AGJ9 MBS NO Investment Grade
FMCC4222413 3128MJV64 MBS NO Investment Grade
FMCC3371737 3137A8PP7 CMO NO Investment Grade
ATS MPIDs:
ATS ID FIRM NAME
BGCX BGC Financial L.P.
BRLQ Brilliquid LLC
IEBC Brokertec Americas LLC
CSCA Creditex Securities Corporation
DLWB Dealerweb, Inc.
ELET Electronifie Securities LLC
FTBR FOLIOfn Investments, Inc.
GFIG GFI Securities LLC
LATG GFI Securities LLC
HTDX Hartfield, Titus & Donnelly, LLC
GARE ICAP Corporates LLC
IATS Interactive Brokers LLC
ITGP ITG Inc.
VABD KCG Americas LLC
LQNF Liquidnet, Inc.
BNDS MTS Markets International, Inc.
OTCR OTC Link LLC
TMCC TMC Bonds L.L.C.
TWDA
Tradeweb Direct LLC (f/k/a
BondDesk Trading LLC)
TMID TruMid Financial LLC
TPCD Tullet Prebon Financial Services LLC
FINRA TRACE – Remuneration/ATS MPID 6/25/2016 UAT Test Script
TRADE ENTRY
Field TEST CASE 1 TEST CASE 2 TEST CASE 3
Sub-Product ABS ABS ABS Side (Buy/Sell) BUY SELL SELL CUSIP 03064LAF7 03064LAF7 03064LAF7 Symbol GM4106817 GM4106817 GM4106817 RDID Quantity 4,000,000.00 10,000,000.00 11,000,000.00 Contra Party ID A C A Capacity (P/A) P A P Price 100.375 100.363281 100.50 ATS Exec MPID Price Override Execution Time Within the past 15
min of current time Within the past 15 min
of current time Within the past 15 min
of current time Settlement Date 7/8/2016 7/8/2016 7/8/2016 As Of Indicator Execution Date Current date Current date Current date Commission 500.00 No Remuneration N RP Give Up RP Clearing # Special Price Indicator Special Price Reason Modifier 2 S S S Modifier 3 Modifier 4 Client Trade ID Branch Seq # Memo Factor .9876512 Special Processing A EXPECTED RESULT Trade disseminated
to SPDS Trade disseminated to
SPDS Trade NOT
disseminated to SPDS Control Number (if accepted) OR Reject Control Number (if rejected)
Comments
Remuneration field in SPDS for ABS trades should be blank.
Disseminated price = 100.368344. Remuneration field should be blank.
Affiliate trade with Special Processing of ‘A’ is not for dissemination.
FINRA TRACE – Remuneration/ATS MPID 6/25/2016 UAT Test Script
TRADE ENTRY
Field TEST CASE 4 TEST CASE 5 TEST CASE 6
Sub-Product ABS ABS ABS Side (Buy/Sell) SELL BUY BUY CUSIP 83162CTX1 83162CTX1 03064LAF7 Symbol SMBA3602737 SMBA3602737 GM4106817 RDID Quantity 5,000,000.00 700,000.00 1,250,000.00 Contra Party ID A A Enter Firm MPID Capacity (P/A) P A A Price 108.75 108.6875 100.25 ATS Exec MPID Price Override Execution Time 093000 Within the past 15
min of current time Current time
Settlement Date 7/8/2016 7/8/2016 7/8/2016 As Of Indicator Y Execution Date 6/22/2016 Current date Current date Commission No Remuneration N N RP Give Up RP Clearing # Special Price Indicator Special Price Reason Modifier 2 S P S Modifier 3 Modifier 4 Client Trade ID Branch Seq # Memo Factor Special Processing EXPECTED RESULT Mod 3 = Z
Trade disseminated with as-of date of execution to SPDS
Trade Rejected Trade Rejected
Control Number (if accepted) OR Reject Control Number (if rejected)
Comments
Remuneration field should be blank.
Primary market trade cannot be used with No Remuneration value of “N”.
Only “C” or “A” as Contra Party trades can be used with No Remuneration value of “N”.
FINRA TRACE – Remuneration/ATS MPID 6/25/2016 UAT Test Script
TRADE ENTRY
Field TEST CASE 7 TEST CASE 8 TEST CASE 9
Sub-Product ABS(144A) ABS(144A) ABS (144A) Side (Buy/Sell) SELL SELL BUY CUSIP 12328MAL5 12328MAL5 850228AC1 Symbol BSNX3288000 BSNX3288000 SPCR4165571 RDID Quantity 8,000,000.00 6,500,000.00 12,500,000.00 Contra Party ID A C A Capacity (P/A) P A P Price 75 78.50 99.000 ATS Exec MPID Price Override Execution Time Within the past 15
min of current time 163000 Within the past 15
min of current time Settlement Date 7/15/2016 7/15/2016 7/15/2016 As Of Indicator Y Execution Date Current date 6/22/2016 Current date Commission 500.00 No Remuneration N RP Give Up RP Clearing # Special Price Indicator Special Price Reason Modifier 2 S S S Modifier 3 Modifier 4 W Client Trade ID Branch Seq # Memo
Factor .9876512 Special Processing EXPECTED RESULT Trade is
disseminated to SPDS 144A
Trade is disseminated to
SPDS 144A
Trade disseminated with ‘W in Mod 4
field to SPDS 144A
Control Number (if accepted) OR Reject Control Number (if rejected)
Comments
Remuneration field in SPDS 144A for ABS trades should be blank.
Trade should be marked late and Remuneration field should be blank.
Disseminated amount will reflect estimated (capped) Quantity of 10MM+. Remuneration field should be blank.
FINRA TRACE – Remuneration/ATS MPID 6/25/2016 UAT Test Script
TRADE ENTRY
Field TEST CASE 10 TEST CASE 11 TEST CASE 12
Sub-Product ABS(144A) ABS(144A) ABS(144A) Side (Buy/Sell) SELL BUY SELL CUSIP 850228AC1 850228AC1 850228AC1
Symbol SPCR4165571 SPCR4165571 SPCR4165571 RDID Quantity 1,500,000.00 900 7,500,000.00 Contra Party ID Enter Firm MPID A C Capacity (P/A) P A P Price 100.4598 99.125 98.875 ATS Exec MPID Price Override Execution Time Current time Current time Current time Settlement Date 7/8/2016 7/15/2016 7/15/2016 As Of Indicator Y Execution Date Current date Current date 6/23/2016 Commission No Remuneration RP Give Up RP Clearing # Special Price Indicator Special Price Reason Modifier 2 S S S Modifier 3 Modifier 4 Client Trade ID Branch Seq # Memo Factor Special Processing EXPECTED RESULT Trade disseminated
on SPDS 144A Trade NOT
disseminated Trade disseminated
on SPDS 144A Control Number (if accepted) OR Reject Control Number (if rejected)
Comments
RP Type and CP Type, and Side should be blank for ABS trades in SPDS144A. No Remuneration field should also be blank.
Trades <1000 shares are not disseminated.
Trade should be marked late, and No Remuneration field blank.
FINRA TRACE – Remuneration/ATS MPID 6/25/2016 UAT Test Script
TRADE ENTRY
Field TEST CASE 13 TEST CASE 14 TEST CASE 15
Sub-Product ABSX ABSX ABSX Side (Buy/Sell) SELL BUY SELL CUSIP 64128QAG0 64128QAG0 64128QAG0
Symbol NBGL4184381 NBGL4184381 NBGL4184381 RDID Quantity 2,500,000.00 900,000.00 7,500,000.00 Contra Party ID A C C Capacity (P/A) P A A Price 100.4598 99.125 98.875 ATS Exec MPID Price Override Execution Time Current time Current time Current time Settlement Date 7/8/2016 7/15/2016 7/15/2016 As Of Indicator Y Execution Date Current date Current date 6/23/2016 Commission 100.00 No Remuneration N RP Give Up RP Clearing # Special Price Indicator Special Price Reason Modifier 2 Modifier 3 Modifier 4 Client Trade ID Branch Seq # Memo Factor .9876512 Special Processing EXPECTED RESULT Trade NOT
disseminated on SPDS 144A
Trade NOT disseminated on SPDS 144A
Trade NOT disseminated on
SPDS 144A Control Number (if accepted) OR Reject Control Number (if rejected)
Comments
ABSX trades are exempt from dissemination.
ABSX trades are exempt from dissemination.
ABSX trades are exempt from dissemination.
FINRA TRACE – Remuneration/ATS MPID 6/25/2016 UAT Test Script
TRADE ENTRY Field TEST CASE 16 TEST CASE 17 TEST CASE 18
Sub-Product TBA (GD) TBA (GD) TBA (GD) Side (Buy/Sell) SELL SELL BUY CUSIP 02R0426C7 02R0426C7 02R0426C7 Symbol FMCC3515649 FMCC3515649 FMCC3515649 RDID Quantity 1,500,000.00 15,000,000.00 26,000,000.00 Contra Party ID A C A Capacity (P/A) A A P Price 99.250 97.75 99.15523 ATS Exec MPID Price Override Execution Time Current time Current time Within the past 15 min of
current time Settlement Date 7/8/2016 7/15/2016 7/8/2016 As Of Indicator Execution Date Current date Current date Current date Commission 750 No Remuneration N RP Give Up RP Clearing # Special Price Indicator
Special Price Reason
Modifier 2 Modifier 3 Modifier 4 W Client Trade ID Branch Seq # Memo Factor .9875412 Special Processing
EXPECTED RESULT
Trade disseminated to SPDS
Trade is disseminated to SPDS
Modifier 4 = W Trade is disseminated to
SPDS Control Number (if accepted) OR Reject Control Number (if rejected)
Comments
Remuneration value of “C” should be
disseminated and price should factor in the
commission as per the commission to pricing
formula.
Disseminated amount will reflect actual quantity and Remuneration value of “M” should be disseminated.
Disseminated amount will reflect estimated (capped)
Quantity of 25MM+. Remuneration value of “N”
should be disseminated. ”Sale Condition W” should
be disseminated.
FINRA TRACE – Remuneration/ATS MPID 6/25/2016 UAT Test Script
TRADE ENTRY
Field TEST CASE 19 TEST CASE 20 TEST CASE 21
Sub-Product MBS MBS MBS Side (Buy/Sell) BUY SELL BUY CUSIP 31337AGJ9 31337AGJ9 31337AGJ9 Symbol FMCC2263884 FMCC2263884 FMCC2263884 RDID
MSA253C2G1428000A
MSA253C2G1428000A
MSA253C2G1428000A
Quantity 9,100,000.00 7,500,100 500,000.00 Contra Party ID A C A Capacity (P/A) A A P Price 101.75 102.25 104.546875 ATS Exec MPID
Price Override Execution Time Within the past 15 min
of current time 093000 Current time
Settlement Date 7/15/2016 7/15/2016 7/15/2016 As Of Indicator Y Execution Date Current date 6/23/2016 Current date Commission 350 No Remuneration RP Give Up RP Clearing # Special Price Indicator Special Price Reason Modifier 2 Modifier 3 Modifier 4 O Client Trade ID Branch Seq # Memo Factor .98765412 Special Processing A EXPECTED RESULT Trade disseminated
with RDID
Trade disseminated with RDID to SPDS
Trade Not disseminated
Control Number (if accepted) OR Reject Control Number (if rejected)
Comments
Remuneration value of “M” disseminated. Sale Condition 4 value is “O”.
Disseminated price = 102.254725. Sale Condition 3 value is “Z”. Remuneration value of “C” disseminated.
Affiliate trade with Special Processing of ‘A’ will not be disseminated.
FINRA TRACE – Remuneration/ATS MPID 6/25/2016 UAT Test Script
TRADE ENTRY
Field TEST CASE 22 TEST CASE 23 TEST CASE 24
Sub-Product MBS MBS MBS Side (Buy/Sell) SELL BUY BUY CUSIP 3128MJV64 3128MJV64 3128MJV64 Symbol FMCC4222413 FMCC4222413 FMCC4222413 RDID MSL3A3C423A022F0F MSL3A3C423A022F0F MSL3A3C423A022F0F Quantity 520,000.00 350,000.00 1,200,000.00 Contra Party ID Enter Firm MPID A A Capacity (P/A) P A A Price 104.546875 103.25 100.50 ATS Exec MPID Price Override Execution Time Current time Current time Current time Settlement Date 7/8/2016 7/8/2016 7/8/2016 As Of Indicator Execution Date Current date Current date Current date Commission 300.00 No Remuneration
N N
RP Give Up RP Clearing # Special Price Indicator
Special Price Reason
Modifier 2 Modifier 3 Modifier 4 Client Trade ID Branch Seq # Memo Factor .98765412 Special Processing
A
EXPECTED RESULT
Trade rejected
Trade rejected
Trade NOT disseminated
Control Number (if accepted) OR Reject Control Number (if rejected)
Comments
Interdealer trades marked with No
Remuneration value of “N” are not accepted.
Trades reported with commission and marked
with the No Remuneration value of “N” are not
accepted.
Special Process trades marked as “A” are not disseminated.
FINRA TRACE – Remuneration/ATS MPID 6/25/2016 UAT Test Script
TRADE ENTRY
Field TEST CASE 25 TEST CASE 26 TEST CASE 27
Sub-Product CMO CMO CMO Side (Buy/Sell) SELL BUY SELL CUSIP 3137A8PP7 3137A8PP7 3137A8PP7 Symbol FMCC3371737 FMCC3371737 FMCC3371737 RDID Quantity 5,250,000.00 1,200,000.00 5,500,000.00 Contra Party ID A C Enter Firm MPID
(Interdealer Trade) Capacity (P/A) A P A Price 100.613281 100.75 99.125 ATS Exec MPID Price Override Execution Time Current time 173500 Current time Settlement Date 7/15/2016 7/15/2016 7/15/2016 As Of Indicator Y Execution Date Current date 6/23/2016 Current date Commission 225.00 No Remuneration RP Give Up RP Clearing # Special Price Indicator Special Price Reason Modifier 2 Modifier 3 Modifier 4 Client Trade ID Branch Seq # Memo Factor 1.0 Special Processing EXPECTED RESULT Trade NOT
disseminated Trade NOT
disseminated Trade NOT
disseminated Control Number (if accepted) OR Reject Control Number (if rejected)
Comments
CMO trade entry is exempted from dissemination.
CMO trade entry is exempted from dissemination.
CMO trade entry is exempted from dissemination.
FINRA TRACE – Remuneration/ATS MPID 6/25/2016 UAT Test Script
TRADE ENTRY
Field TEST CASE 28 TEST CASE 29 TEST CASE 30
Sub-Product ABS ABS ABS Side (Buy/Sell) SELL SELL SELL CUSIP 03064LAF7 03064LAF7 03064LAF7 Symbol GM4106817 GM4106817 GM4106817 RDID Quantity 5,000,000.00 10,000,000.00 11,000,000.00 Contra Party ID Enter Firm MPID Enter ATS MPID A Capacity (P/A) P A P Price 100 100.50 100.50 ATS Exec MPID Enter ATS MPID Enter ATS MPID Price Override Execution Time Within the past 15
min of current time 093000 Within the past 15 min
of current time Settlement Date 7/8/2016 7/8/2016 7/8/2016 As Of Indicator Y Execution Date Current date 6/22/2016 Current date Commission No Remuneration RP Give Up RP Clearing # Special Price Indicator Special Price Reason Modifier 2 S S S Modifier 3 Modifier 4 Client Trade ID Branch Seq # Memo Factor Special Processing A EXPECTED RESULT Trade disseminated
to SPDS Trade disseminated to
SPDS Trade should reject
Control Number (if accepted) OR Reject Control Number (if rejected)
Comments
ATS Indicator field on SPDS should be blank.
Trade should be marked late in Sale Condition 3. ATS Indicator field on SPDS should be blank. Contra Party Type value on SPDS should be blank.
Customer or affiliate trades with an ATS Exec ID should reject. Only an interdealer trade with an ATS Exec MPID is allowed.
FINRA TRACE – Remuneration/ATS MPID 6/25/2016 UAT Test Script
TRADE ENTRY
Field TEST CASE 31 TEST CASE 32 TEST CASE 33
Sub-Product ABS(144A) ABS(144A) ABS (144A) Side (Buy/Sell) SELL SELL BUY CUSIP 12328MAL5 12328MAL5 850228AC1 Symbol BSNX3288000 BSNX3288000 SPCR4165571 RDID Quantity 8,000,000.00 6,500,000.00 12,500,000.00 Contra Party ID Enter Firm MPID Enter ATS MPID Enter Firm MPID Capacity (P/A) P A P Price 75.75 78.50 99.000 ATS Exec MPID Enter ATS MPID Enter ATS MPID Price Override Execution Time Within the past 15
min of current time 163000 Within the past 15 min of
current time Settlement Date 7/15/2016 7/15/2016 7/15/2016 As Of Indicator Y Execution Date Current date 6/22/2016 Current date Commission 500.00 No Remuneration RP Give Up RP Clearing # Special Price Indicator Special Price Reason Modifier 2 S S S Modifier 3 Modifier 4 W Client Trade ID Branch Seq # Memo
Factor .9876512 Special Processing EXPECTED RESULT Trade is
disseminated to SPDS 144A
Trade is disseminated to
SPDS 144A
Trade should not disseminate to SPDS 144A
Control Number (if accepted) OR Reject Control Number (if rejected)
Comments
ATS Indicator field on SPDS 144A should be blank.
Trade should be marked late and ATS Indicator should be blank. Price should factor in commission formula.
Only interdealer sells should be disseminated on SPDs 144A.
FINRA TRACE – Remuneration/ATS MPID 6/25/2016 UAT Test Script
TRADE ENTRY
Field TEST CASE 34 TEST CASE 35 TEST CASE 36
Sub-Product TBA (GD) TBA (GD) TBA (GD) Side (Buy/Sell) SELL SELL BUY CUSIP 02R0426C7 02R0426C7 02R0426C7 Symbol FMCC3515649 FMCC3515649 FMCC3515649 RDID Quantity 1,500,000.00 15,000,000.00 26,000,000.00 Contra Party ID Enter ATS MPID Enter Firm MPID Enter ATS MPID Capacity (P/A) A A P Price 99.250 97.75 99.15523 ATS Exec MPID Enter ATS MPID Price Override Execution Time Current time Current time Outside 15 min of
current time Settlement Date 7/8/2016 7/15/2016 7/8/2016 As Of Indicator Execution Date Current date Current date Current date Commission No Remuneration RP Give Up RP Clearing # Special Price Indicator
Special Price Reason
Modifier 2 Modifier 3 Modifier 4 Client Trade ID Branch Seq # Memo Factor Special Processing
EXPECTED RESULT
Trade disseminated to SPDS
Trade is disseminated to SPDS
Trade is disseminated to SPDS
Control Number (if accepted) OR Reject Control Number (if rejected)
Comments
Contra Party Type should be “D” on this trade and the ATS Indicator should be blank. TBD trades are denoted as Interdealer
trades when an ATS MPID is set as the contra party.
ATS Indicator should be blank.
Disseminated amount will reflect estimated (capped) Quantity of
25MM+. Trade should be marked late “Z” in Sale Condition
3 field. ATS Indicator should be blank.
FINRA TRACE – Remuneration/ATS MPID 6/25/2016 UAT Test Script
TRADE ENTRY
Field TEST CASE 37 TEST CASE 38 TEST CASE 39
Sub-Product MBS MBS MBS Side (Buy/Sell) SELL SELL BUY CUSIP 31337AGJ9 31337AGJ9 31337AGJ9 Symbol FMCC2263884 FMCC2263884 FMCC2263884 RDID
MSA253C2G1428000A
MSA253C2G1428000A
MSA253C2G1428000A
Quantity 9,100,000.00 7,500,100 500,000.00 Contra Party ID Enter ATS MPID Enter Firm MPID Enter ATS MPID Capacity (P/A) P A P Price 101.75 102.25 104.546875 ATS Exec MPID Enter ATS MPID
Price Override Execution Time Within the past 15 min
of current time 100000 Current time
Settlement Date 7/15/2016 7/15/2016 7/15/2016 As Of Indicator Y Execution Date Current date 6/23/2016 Current date Commission No Remuneration RP Give Up RP Clearing # Special Price Indicator Special Price Reason Modifier 2 Modifier 3 Modifier 4 Client Trade ID Branch Seq # Memo Factor Special Processing EXPECTED RESULT Trade disseminated
with RDID to SPDS
Trade disseminated with RDID to SPDS
Trade should not be disseminated to SPDS
Control Number (if accepted) OR Reject Control Number (if rejected)
Comments
ATS Indicator of “Y” should be disseminated on SPDS.
Trade should be marked late in Sale Condition 3 field. ATS Indicator of “Y” should be disseminated on SPDS.
Interdealer buy trades should not be
disseminated to SPDS.
FINRA TRACE – Remuneration/ATS MPID 6/25/2016 UAT Test Script
TRADE ENTRY
Field TEST CASE 40 TEST CASE 41 TEST CASE 42
Sub-Product CMO CMO CMO Side (Buy/Sell) SELL BUY SELL CUSIP 3137A8PP7 3137A8PP7 3137A8PP7 Symbol FMCC3371737 FMCC3371737 FMCC3371737 RDID Quantity 5,250,000.00 1,200,000.00 5,500,000.00 Contra Party ID Enter ATS MPID Enter Firm MPID C Capacity (P/A) A P A Price 100.613281 100.75 99.125 ATS Exec MPID Enter ATS MPID Enter ATS MPID Price Override Execution Time Current time 173500 Current time Settlement Date 7/15/2016 7/15/2016 7/15/2016 As Of Indicator Y Execution Date Current date 6/21/2016 Current date Commission No Remuneration RP Give Up RP Clearing # Special Price Indicator Special Price Reason Modifier 2 Modifier 3 Modifier 4 Client Trade ID Branch Seq # Memo Factor Special Processing EXPECTED RESULT Trade NOT
disseminated Trade NOT
disseminated Trade should reject
Control Number (if accepted) OR Reject Control Number (if rejected)
Comments
CMO trade entry is exempted from dissemination.
CMO trade entry is exempted from dissemination.
Customer or affiliate trades with an ATS Exec ID should reject. Only an inter-dealer trade with an ATS Exec MPID is allowed.
FINRA TRACE – Remuneration/ATS MPID 6/25/2016 UAT Test Script
CANCEL
Field TEST CASE 43 TEST CASE 44 TEST CASE 45 Cancel trade entered
in Test case 1 Cancel trade entered
in Test case 7 Cancel trade entered
in Test case 16 Sub-Product ABS ABS(144A) TBA
Side (Buy/Sell) CUSIP Symbol RDID Quantity
Contra Party ID Capacity (P/A) Price ATS Exec MPID Price Override Execution Time Settlement Date As Of Indicator Execution Date Commission No Remuneration RP Give Up RP Clearing # Special Price Indicator Special Price Reason Modifier 2 Modifier 3 Modifier 4 Client Trade ID Branch Seq # Memo Factor Special Processing EXPECTED RESULT Cancel disseminated
to SPDS Cancel disseminated
to SPDS 144A Cancel disseminated
to SPDS Control Number (if accepted) OR Reject Control Number (if rejected)
Comments
Remuneration field in SPDS for ABS trade cancellation should be blank.
Remuneration field in SPDS 144A for ABS
trades should be blank.
FINRA TRACE – Remuneration/ATS MPID 6/25/2016 UAT Test Script
CANCEL
Field TEST CASE 46 TEST CASE 47 TEST CASE 48 Cancel trade entered
in Test case 19 Cancel trade entered
in Test case 25 Cancel trade entered
in Test case 28 Sub-Product MBS CMO ABS
Side (Buy/Sell) CUSIP Symbol RDID Quantity
Contra Party ID Capacity (P/A) Price ATS Exec MPID Price Override Execution Time
Settlement Date As Of Indicator Execution Date Commission No Remuneration RP Give Up RP Clearing # Special Price Indicator Special Price Reason Modifier 2 Modifier 3 Modifier 4 Client Trade ID Branch Seq # Memo Factor Special Processing EXPECTED RESULT Cancel disseminated
to SPDS Cancel Not
disseminated to SPDS Cancel disseminated
to SPDS Control Number (if accepted) OR Reject Control Number (if rejected)
Comments
CMO trade cancellation is exempted from dissemination.
ATS Indicator field on SPDS should be blank.
FINRA TRACE – Remuneration/ATS MPID 6/25/2016 UAT Test Script
CANCEL
Field TEST CASE 49 TEST CASE 50 TEST CASE 51 Cancel trade entered
in Test case 31 Cancel trade entered
in Test case 35 Cancel trade entered
in Test case 37 Sub-Product ABS(144A) TBA MBS
Side (Buy/Sell) CUSIP Symbol RDID Quantity
Contra Party ID Capacity (P/A) Price ATS Exec MPID Price Override Execution Time
Settlement Date As Of Indicator Execution Date Commission No Remuneration RP Give Up RP Clearing # Special Price Indicator Special Price Reason Modifier 2 Modifier 3 Modifier 4 Client Trade ID Branch Seq # Memo Factor Special Processing EXPECTED RESULT Cancel disseminated
to SPDS Cancel disseminated
to SPDS Cancel disseminated
to SPDS Control Number (if accepted) OR Reject Control Number (if rejected)
Comments
ATS Indicator field on SPDS should be blank.
ATS Indicator field on SPDS should be blank.
FINRA TRACE – Remuneration/ATS MPID 6/25/2016 UAT Test Script
CORRECTION
Field TEST CASE 52 TEST CASE 53 TEST CASE 54 Correct trade entered
in Test Case 4 (Price and No Remuneration)
Correct trade entered in Test Case 9
(Quantity and Contra Party)
Correct trade entered in Test Case 17
(Commission and Price)
Sub-Product ABS ABS (144A) TBA (GD) Side (Buy/Sell) CUSIP Symbol RDID Quantity 9,000,000.00
Contra Party ID C Capacity (P/A) Price 108.00 99.25 ATS Exec MPID Price Override Execution Time Settlement Date As Of Indicator Execution Date Commission 100.00 No Remuneration N RP Give Up RP Clearing # Special Price Indicator Special Price Reason Modifier 2 S S Modifier 3 Modifier 4 Client Trade ID Branch Seq # Memo Factor .9875412 Special Processing EXPECTED RESULT Correction
disseminated to SPDS Correction
disseminated to SPDS 144A
Correction disseminated to SPDS
Control Number (if accepted) OR Reject Control Number (if rejected)
Comments
Remuneration field should be blank on correction message.
Quantity should be reflected as actual in the
correction message. Remuneration field
should be blank.
Remuneration value of “C” should be disseminated in correction message.
FINRA TRACE – Remuneration/ATS MPID 6/25/2016 UAT Test Script
CORRECTION
Field TEST CASE 55 TEST CASE 56 TEST CASE 57 Correct trade entered
in Test Case 21 (Remove Special Processing Flag)
Correct trade entered in Test Case 29
(Price and ATS MPID)
Correct trade entered in Test Case 32
(Quantity, Contra, and ATS Exec MPID)
Sub-Product MBS ABS ABS 144A Side (Buy/Sell) CUSIP Symbol RDID Quantity 5,000,000.00
Contra Party ID Enter new ATS MPID Enter Firm MPID Capacity (P/A) Price 99.50 ATS Exec MPID Enter ATS MPID Price Override Execution Time Settlement Date As Of Indicator Execution Date Commission No Remuneration RP Give Up RP Clearing # Special Price Indicator Special Price Reason Modifier 2 S S Modifier 3 Modifier 4 Client Trade ID Branch Seq # Memo Factor Special Processing EXPECTED RESULT Correction
disseminated to SPDS Correction
disseminated to SPDS Correction
disseminated to SPDS Control Number (if accepted) OR Reject Control Number (if rejected)
Comments
Correction to Affiliate trade with Special Processing of blank will be disseminated.
ATS Indicator field on SPDS correction should be blank. Contra Party Type value on SPDS correction should be blank.
ATS Indicator field on SPDS correction should be blank. Quantity value should be adjusted.
FINRA TRACE – Remuneration/ATS MPID 6/25/2016 UAT Test Script
Field TEST CASE 58 Correct trade entered
in Test Case 38 (Change ATS Exec
MPID) Sub-Product MBS
Side (Buy/Sell) CUSIP Symbol RDID Quantity
Contra Party ID Capacity (P/A) Price ATS Exec MPID Enter new ATS MPID Price Override Execution Time Settlement Date As Of Indicator Execution Date Commission No Remuneration RP Give Up RP Clearing # Special Price Indicator Special Price Reason Modifier 2 Modifier 3 Modifier 4 Client Trade ID Branch Seq # Memo Factor Special Processing EXPECTED RESULT Correction
disseminated to SPDS Control Number (if accepted) OR Reject Control Number (if rejected)
Comments
ATS Indicator of “Y” should be disseminated on SPDS correction message.
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