--- title: Finra to Change FIX Reporting Tag description: Regulator retires one FIX trade tag. image: https://articles.marketsmedia.com/hubfs/Imported_Blog_Media/regulation-and-liquidity-top-concerns-in-fixed-income1-May-12-2022-09-32-40-75-AM.jpg --- ![websites-group](https://articles.marketsmedia.com/hubfs/raw_assets/public/MarketsMedia_August2021/images/new-MMG-01.svg) [![](https://articles.marketsmedia.com/hubfs/raw_assets/public/MarketsMedia_August2021/images/dropdown-new-marketsmedia-logo.svg)](https://www.marketsmedia.com/) [![](https://articles.marketsmedia.com/hubfs/raw_assets/public/MarketsMedia_August2021/images/dropdown-menu-traders-redlogo.svg)](https://www.tradersmagazine.com/) [![](https://articles.marketsmedia.com/hubfs/raw_assets/public/MarketsMedia_August2021/images/dropdown-menu-bestexe-logo.svg)](https://www.bestexecution.net/) [![](https://articles.marketsmedia.com/hubfs/raw_assets/public/MarketsMedia_August2021/images/dropdown-menu-fidesk-logo.svg)](https://www.fixglobal.com/) [![](https://articles.marketsmedia.com/hubfs/raw_assets/public/MarketsMedia_August2021/images/dropdown-fixglobal-new-logo.svg)](https://www.fixglobal.com/) - [*Facebook*](https://www.facebook.com/MarketsMedia/) - [*Twitter*](https://twitter.com/marketsmedia) - [*Linkedin*](https://www.linkedin.com/company/markets-media-llc) - [Newsletter](https://articles.marketsmedia.com/finra-to-change-fix-reporting-tag#popup-newsletter) #### Want the latest news on securities markets -- FREE? 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Sort of. Effective Monday, August 20, the Financial Industry Regulatory Authority will require a change to all FIX trade reporting related to the processing of execution time during Daylight Savings Time (DST) changes. This update affects firms’ transaction reports for all FINRA Multi Product Platform products (MPP), including TRACE, the OTC Trade Reporting Facility (ORF), and The Alternative Display Facility (ADF). Currently, Tag 60 (TransactTime) is a FIX required field, and Tag 22007 (ExecutionTime) is a FINRA custom tag used to identify a trade’s execution time. Effective August 20, 2018, Tag 60 will be used to indicate the Execution Time for all products and Tag 22007 will be retired from processing use. With this change, FINRA recommends firms omit Tag 22007 from transaction submissions. However, if a firm sends a transaction via FIX, which includes Tag 22007, FINRA will accept it, but the timestamp will be ignored. The 22007 tag will not be returned on any acknowledgement or reject messages back to firms. The following transaction messages sent to FINRA are impacted by this change: **Trade Entry** **Trade Corrections** **Trade Reversals** Note: Tag 60 is required on Trade Cancels and should reflect the cancelled trade’s execution time, however the timestamp will not be validated against the original trade submission. Note - All times must continue to be sent in UTC format as per FIX protocol. **FIX for CA** **FIX for SP** **FIX for TS** **FIX for ADF** **FIX for ORF** Note - In addition to the modifications to Tag 60 described above, beginning on August 20, 2018, the TRACE Corporate and Agency (CA) and TRACE Securitized Products (SP) FIX protocols will require Tag 455 (Instrument/Security AltId) to be included on Trade Acknowledgement – Acknowledgement (CAEN; SPEN) and Trade Capture Report – Confirmed Reversal (CAHX; SPHX) to be sent to the client. This change only affects TRACE CA and SP users. FINRA expects testing for the aforementioned FIX changes to be available in its NTF environment starting in June 2018. FINRA will issue a separate technical notice with testing details. Please note the changes to FIX Tag 60 and FIX Tag 455 only impacts firms that submit and receive these messages using the FIX protocol. Firms that use CTCI are not impacted by the stated FIX Tag changes. [Share](https://www.facebook.com/share.php?u=https://articles.marketsmedia.com/finra-to-change-fix-reporting-tag) [Tweet](https://twitter.com/intent/tweet?text=US+ETFs+Have+Record+Net+Inflows&url=https://articles.marketsmedia.com/finra-to-change-fix-reporting-tag) [Share](https://www.linkedin.com/cws/share?url=https://articles.marketsmedia.com/finra-to-change-fix-reporting-tag) ![email](https://articles.marketsmedia.com/hubfs/Markets%20Media/email.svg) ### NEWSLETTER SIGN UP And receive exclusive articles on securities markets ### Related articles 1. 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