Are orders initiated but not executed or canceled prior to the effective date of the rules reportable?
Only order information for orders originated on or after the appropriate Implementation Date are required to be retained under the OATS Rules. Only order information for orders originated on or after your assigned Reporting Date should be transmitted to the OATS production environment. Remember that any order reports that are not related to an existing New Order Report in OATS will be rejected. Thus, Desk, Routing, Execution, Cancel/Replace, or Cancel Reports submitted to OATS for orders received before your assigned Reporting Date will be rejected. Rejections that occur as a result of submissions of order reports related to an order received before your Reporting Date are not required to be repaired in OATS; however, they will be considered rejections in OATS Statistics. You have the option, when you begin reporting to OATS, to file a New Order Report for an order that was originated prior to your Reporting Date. This will allow all future Routing, Execution, Cancel/Replace, and Cance
Related Questions
- I have a deed that was executed and transacted prior to the effective date of the law, am I still required to complete and sign a GIT/REP form?
- Can surety bonds on file prior to the effective date of the new rules be canceled by the surety company? Can they be replaced?
- Are orders initiated but not executed or canceled prior to the effective date of the rules reportable?
