Does my firm have an obligation to report orders placed on OptiMark to OATS?
If your firm places an order into OptiMark for a customer or another member, then your firm must send a New Order Report and a Route Report with a Routing Method Code of “O”. If a sponsored non-member enters an order directly into OptiMark or if the member originates an order in the normal course of market making, the order is not OATS reportable. See T41. (Last updated 08/04/99) C61: Our firm is preparing for decimalization with a systematic process to convert open limit and stop limit orders from fractions to decimals. Do we need to provide OATS with any of these modifications? Members who will systematically convert their order handling systems from fractions to decimals will not be required to report the conversion price change to OATS. But, members must file a Cancel/Replace Report to reflect the price adjustment if their systems automatically generate a New Order ID for any such modification. (Last updated 12/04/00) C65: Q.When appending a Prior Reference Price (PRP) modifier to
Related Questions
- How will a receiving firm know if a firm submitting orders to it does not meet the definition of an OATS Reporting Member under NASD Rule 7410?
- My firm operates a convertible bond department. Does my firm have to report information to OATS about orders in convertible bonds?
- Does my firm have an obligation to report orders placed on OptiMark to OATS?
