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Simplifying Multi-Market Access With One Streamlined SFTI Connection
Simplify connectivity with Secure Financial Transaction Infrastructure® (SFTI®). Whether looking to expand into new markets, streamline multiple direct connections or find a cost-effective solution for your redundancy needs, SFTI offers an easily scalable infrastructure solution.
FIX and Binary Technical Specifications
UTP Direct API Notes: Routing to Broker Booth Systems and NYSE Arca is currently unavailable through the UTP Direct API.
NYSE Arca Equities, Options, and NYSE American Options
- NYSE Arca FIX Specification
- NYSE Arca UGW FIX Gateway Specification (Equities Only)
- NYSE Arca UGW Binary Gateway Specification
- Liquidity Indicators (FIX)
- Liquidity Indicators (Binary)
- NYSE Arca Drop Copy FIX Specification October 15, 2009
Session Request Form and Addition/Removal Procedures
*You may also use the Production Session Request form to request removal of sessions.
The FINRA/NYSE Trade Reporting Facility® (TRF®) provides an automated, convenient and low-cost way to report your off-exchange trades in NYSE, NYSE American, NYSE Arca and NASDAQ listed securities. The TRF is available to all FINRA member organizations that have a signed FINRA/NYSE TRF Subscriber Services Agreement.
- The FINRA/NYSE TRF supports single side trade reports where the submitting party identifies its side as well as the contra side
- ATS trades and riskless principal trades may be reported by utilizing a second trade report that is reported as non-media
- All trade reports are validated to ensure there is a Uniform Service Agreement approved by FINRA
Client Management Tool
This fully interactive and secure web-based Client Management Tool (CMT) is available for input and management of trades on the FINRA/NYSE TRF. The CMT is a multi-functional tool that provides easy order entry, a summary dashboard, reporting tools and clearing functionality for TRF reports. Its highly intuitive interface is built on the same architecture as ArcaVision and the NYSE Arca Equities CMT. You can use your existing Arca CMT logon.
- View, download, bust, replace and create Trade Reports going back 6 months
- View, correct and re-submit rejected reports
- Add and modify same day Trade Reports
- Add and reverse previous day Trade Reports
- Filter intraday activity by any report modifier, execution time, submission time, or party information
- Summary dashboard provides point-and-click access to Excel exportable reports and previous day’s activity by clearing type, Reg NMS modifiers, or revisions
All trades reported to the FINRA/NYSE TRF must comply with FINRA trade reporting rules and guidance, the federal securities laws, including SEC Reg. NMS rules and all other applicable rules and regulations. The compliance dashboard and reporting tools include user defined tracking and alerts as well as a downloadable audit trail.
- Dashboard: A web page that allows a user to view summary information about their trades using multiple criteria
- Detail Drill Down: A more granular presentation of the information on the summary dashboard
- Trade Through Alerting: Real time comparison of trade reports to NMS protected BBO
- Reports: Excel downloads of the detailed information
- Multiday Capability The ability to find information contained in the dashboard, drill downs and reports historically for 6 months.Provides alerts, metrics, tracking and data to TRF users and compliance officers. Key capabilities: Static and user defined alerts based on trade reporting, static and user defined alerts based on market data, historical data, downloadable data, compliance workflow manager.
The FINRA/NYSE TRF offers users the option to have clearing submitted for them to DTCC via QSR or AGU.
- FINRA/NYSETRF clearing is submitted to DTCC directly via QSR or AGU
- For clearing submitted by FINRA/NYSE TRF, trade corrections are automatically processed at DTCC (pre-settlement)
- Clearing method is designated on each order to allow flexibility
- QSR submission by the participant to DTCC is also supported
- Participants must have a valid Qualified Service Representative (QSR) agreement in place with the contra parties to report a trade where the contra party is another broker dealer
PRICING AND REVENUE SHARING
The table below provides the consolidated tape market data revenue sharing percentages based on market share reported by a member to the FINRA/NYSE TRF during a given calendar quarter. For purposes of Rule 7610B, a member’s “Market Share” is the percentage calculated by dividing the total number of trades (applicable to the relevant tape) reported by the member to the FINRA/NYSE TRF during a given calendar quarter by the total number of all trades reported to the CTA or UTP SIP (applicable to the relevant tape) during that quarter.
Market Data Revenue Sharing Percentages
|Market Share Reported to the FINRA/NYSE TRF in Tape A, B or C||Percentage of Market Data Revenue Shared in Tape A, B or C|
|Greater than or equal to 2.0%||100%|
Greater than or equal to 0.5% but less than 2.0%
Greater than or equal to 0.1% but less than 0.5%
Less than 0.1%
The table below provides the new tiered monthly fee structure based on a FINRA member’s Alternative Trading System (ATS) and non-ATS OTC market share of National Market System (NMS) stocks during a calendar quarter as published on FINRA’s web site pursuant to FINRA Rule 6110. For purposes of Rule 7620B, a member’s “ATS & Non-ATS OTC Market Share” is the percentage calculated by dividing the total number of the member’s ATS and non-ATS shares in NMS stocks, as published on FINRA’s web site, by the total number of all shares reported to the CTA and UTP SIP, as applicable.
The FINRA/NYSE TRF does not charge for ports, trade reports, client management tool use or invoice your contra parties with any charges.
Subscriber Fee Per Month
|ATS & Non-ATS OTC Market Share||Monthly Subscriber Fee|
|Greater than or equal to 2.0%||$30,000|
|Greater than or equal to 0.5% but less than 2.0%||$15,000|
|Greater than or equal to 0.1% but less than 0.5%||$5,000|
|Less than 0.1%||$2,000|
How to Subscribe
- FINRA/NYSE TRF® Subscriber Service Agreement
- Client Management Tool User Agreement for FINRA/NYSE TRF®
- FINRA NYSE TRF Messaging Specification
- PRICING AND DATA REVENUE SHARING EFFECTIVE OCTOBER 2016
- FINRA NYSE TRF Announces DTCC QSR Clearing Functionality
- CMT for FINRA/NYSE TRF® Outage Notification
- UPDATE: CMT for FINRA/NYSE TRF® Outage Notification
- CMT for FINRA/NYSE TRF® Outage Recap and Redeployment Schedule
- FINRA Transaction Fee Transfer Agreement
- FINRA/NYSE TRF Trader Update 3.23.15
- FINRA/NYSE TRF Trader Update 3.26.15
- FINRA/NYSE TRF Trader Update Delayed Reports Attachment 3.26.15
- NYSE, NYSE American, and NYSE Arca Routing Policy
- NYSE and NYSE American Trading Units Daily
- NYSE Group Equities Technology FAQ
- Retail Liquidity Program
- NYSE Open and Closing Auctions
- Parity and Priority
- Next Generation Market Model
- Supplemental Liquidity Providers
- Designated Market Makers
- FINRA/NYSE Trade Reporting Facility
- Algorithms for NYSE Floor Brokers
- Trade Reporting Modifiers for Reg NMS