Cboe Silexx, a multi-asset order execution management system (OEMS) that caters to the professional marketplace, will retire OATS reporting.
In accordance with the Financial Industry Regulatory Authority’s (FINRA) rule change for Order Audit Trail System (OATS), Cboe Silexx will retire OATS reporting effective September 1, 2021.
FINRA has determined that the accuracy and reliability of the Consolidated Audit Trail (CAT) meet the standards approved by the SEC and has determined to retire OATS as of September 1, 2021.
Reports submitted to OATS for order events that occur after August 31, 2021, will be rejected. In other words, August 31, 2021, will be the last “OATS Business Day,” as defined under Rule 7450(b)(3), for which OATS will accept order events and perform routine processing (including incorporation of corrections and repairs of rejections).
OATS will continue to accept reports for order events that occur on or before August 31, 2021, (including, but not limited to, late and corrected reports for such order events) through September 16, 2021. Firms must ensure that their OATS reporting is accurate and complete for all order events that occur on or before August 31, 2021.
As noted above, September 16, 2021, is the last day OATS will accept reports for order events that occur on or before August 31, 2021. If, after that date, firms discover errors in their OATS reporting, including inaccurate, incomplete or missing data, they must notify FINRA via email to the OATS Help Desk at [email protected]