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Published Date : 11/29/2012
Direct Edge Regulatory Notice #12-08: Enhanced Electronic Blue Sheet Submissions Update
Overview
This Regulatory Notice (the “Notice”) serves to inform Members of EDGA Exchange, Inc. (EDGA®) and EDGX Exchange, Inc. (EDGX®) (together, the “Exchanges”) that the Exchanges and certain members of the Intermarket Surveillance Group (collectively, the “ISG interested members”)1 have extended the effective date for firms to submit data elements for enhancing the Electronic Blue Sheets (EBS) to May 1, 2013 to allow broker-dealers additional time to implement the enhancements.
Firms must add the following fields to the EBS format by November 30, 2012, as currently required, but are not required to be populated with regard to EBS requests from the Exchange and other interested ISG members until May 1, 2013. Firms may voluntarily submit the values of these fields starting November 30th and they will be accepted.
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Order Execution Time
- Large Trader Identification Number 1
- Large Trader Identification Number 2
- Large Trader Identification Number 3
- Large Trader Identification Qualifier
- Primary Party Identifier (referred to as Entering Firm Identifier in Regulatory Notice #12-02)
- Contra Party Identifier (referred to as Executing Firm Identifier Regulatory Notice #12-02)
Currently, EBS requests are made under specific security symbols and option symbology. As noted in Regulatory Notice #12-02, firms will be required to submit EBS, when requested, using three additional formats:
- Account number and date
- Account number, symbol and date
- Date range and Primary Party Identifier
For more details about the definition of the fields listed above, the changes to the Blue Sheet record layout and transaction types identifiers, Blue Sheet testing, and the Large Trader request from the SEC, please refer to FINRA’s Regulatory Notice 12-47.
Attachment A to this Bulletin outlines the updated EBS record layout and Attachment B outlines the updated transaction type identifiers.
Additionally, please refer to
www.finra.org\bluesheets\faq on the FINRA website for the most recent version of the Electronic Blue Sheet “FAQ”.
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[1] The ISG interested members include the following exchanges and self-regulatory organizations (SROs): BATS Exchange, Inc., BATS Y-Exchange, Inc., Chicago Board Options Exchange, Incorporated (CBOE), C2 Options Exchange, Incorporated (C2), CBOE Stock Exchange, LLC (CBSX), Chicago Stock Exchange, Inc., EDGA Exchange, Inc., EDGX Exchange, Inc., Financial Industry Regulatory Association (FINRA), International Securities Exchange, LLC, The NASDAQ Stock Market LLC, NASDAQ OMX BX, Inc., NASDAQ OMX PHLX LLC, National Stock Exchange, Inc., New York Stock Exchange, LLC, NYSE Amex, LLC, and NYSE Arca, Inc.
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