|
|
|
User's Manual For Reporting Customer Transactions Using the MSRB PC Transaction Reporting System (PC TRS)
Version 1.1 MUNICIPAL SECURITIES RULEMAKING BOARD Alexandria, VA 22307 (709) 797-6600
Concept of Operations
2-1 MAIN SCREEN
A DATA ELEMENT AND FILE FORMAT SPECIFICATION SECTION 1 This manual describes how to report customer trades in municipal
securities to the MSRB by using the free personal
Supplementary instructions provided separately describe:
MSRB's rule G-14 requires dealers to report all transactions in
municipal securities to the MSRB. Inter-dealer transactions Most customer trades are reported to the MSRB by dealers who submit
the required data directly to NSCC using
Overview of the Transaction Reporting System The Transaction Reporting System, or TRS, operates at the MSRB's
offices in the Washington, DC area. It contains a centralized The PC method for reporting customer trades is not designed to
support inter-dealer trade reporting. Dealers must continue to The TRS produces a daily report that reflects municipal securities
market activity for the preceding business day. MSRB disseminates
PC TRS Capabilities A dealer may use the PC TRS software to:
The dealer has the choice to use the above data entry features
to create an input file for transmission to CTRS, or to use non-MSRB
As an alternative or supplement to the downloaded receipt file,
dealers may opt to receive a faxed report from TRS that has the
same The TRS Host Computer and the Dealer's Client Computer The TRS includes a computer that is dedicated to telecommunications,
i.e., to communicating over telephone lines with the
NSCC and The client computer in the dealer's office must use either Microsoft's
Windows 95 or the Windows NT® operating system (version
4 or The client computer does not have to be dedicated to transaction
reporting and therefore can be used for other purposes in the dealer
Remote Access Services (RAS) Windows 95 and Windows NT both have a feature called Remote Access
Services (RAS), which enables a remote client computer to Security It is important that the dealer's computer and data are not compromised
by any activities required by the transaction reporting
ADDITIONAL INFORMATION SOURCES Testing and installation of PC TRS are described in separate documents. For additional information on the Transaction Reporting Program,
see the following. "Q&A" refers to the document, "MSRB Transaction
Rule G-14 Compliance Q&A nos. 1-4 Inter-dealer Transaction Reporting MSRB Reports, Vol. 14, No. 5 (December 1994) at 3-6 Q&A nos. 5, 6, 47-59 Guidelines for Reporting Inter-dealer Transactions MSRB Reports, Vol. 16, No. 2 (June 1996) at 9-12 Customer Transaction Reporting MSRB Reports, Vol. 17, No. 1 (January 1997) at 3-8, and Vol. 17, No. 3 (October 1997) at 9.
SECTION 2 ENTERING AND REVIEWING TRANSACTION DATA
To start the software, click CTRS under Programs on the Windows Start Menu. You will see the Main screen (Figure 2-1). This screen controls data entry and file transmission. NOTE: Overlaid on the Main screen is a box informing you whether
there are records awaiting transmission to MSRB. The first time
To enter data for a trade "from scratch," click on New Trade.
INSTRUCTIONS FOR THE DATA ENTRY SCREEN Clicking on New Trade makes the screen entitled
"First Report of Trade" appear. We refer to this as the Data Entry
screen. When the Data Entry screen first appears, the Dealer, Trade Date
and Capacity fields are filled with default values: the executing
When you position the cursor on any field in the screen, a prompt
will appear on the bottom of the screen. This provides a "tip" After you enter a value in a field, press TAB and the cursor will
move to the next field. To move to the previous field, use the Before you leave the screen (see "Completing Data Entry for One
Transaction," below), you may change any value you have The formal definition of each field is given in Table
1 of Appendix A. Please review the definitions to be sure you
provide the CUSIP (required) Enter the nine-character CUSIP number, e.g., 123456AB9. Do not enter any spaces, as these would be counted as extra characters. Only CUSIP numbers assigned by the CUSIP Service Bureau of Standard
& Poor's may be reported to CTRS. Do not enter security Do not report trades in securities other than municipal securities,
such as tax-free mutual funds or UITs. If you do, you will have
to Buy/Sell (required) Enter "buy" if you are reporting a purchase of a security from
a customer. Enter "sell" if you are reporting a sale to a customer.
You
Par (required) Enter the par value (quantity) of securities traded. Enter the
number of dollars (for example, 15000). After you go to another
field, If the transaction is in zero coupon securities, enter the maturity value of the securities. In nearly every trade, the par value will be an exact multiple
of one thousand dollars. If you enter a par value that is not a
multiple Dollar price (required except in certain "when-issued" trades) Enter the price at which the trade was effected. The units are
dollars per hundred dollars par value. Enter the decimal point,
e.g.,
If the dollar price is not required to be reported for a when-issued trade (see below), leave the field blank or enter "0.0". Do not include the effect of any commission in the dollar price value. You will report commission later, in the same units as the dollar price. We recommend typing the decimal point even when entering dollar prices such as "99." or "100.". The same holds true for integral values of yield and commission. Yield (required except in certain trades) Enter the yield at which the trade was effected. The units are per cent. Enter the decimal point, e.g., 5.5 for 5.5%. You may use a total of 9 characters including the decimal, but you do not have to type leading zeroes or trailing zeroes. Thus, all of the following are valid:
The yield value reported is the same "net" yield that is reported on customer confirmations. Therefore, it should include the effect of any commission (see MSRB rule G-15(a)). Rule G-15(a) in most cases requires the yield to be computed to the lower of call or nominal maturity date.
If a yield cannot not be computed for a transaction done on a dollar price basis, for example, because the trade is in a variable rate security or in a defaulted security, then the yield may be omitted (left blank or reported as zero).4 If reporting the yield is not possible because the transaction was done on a dollar price basis and no settlement date has been set for a "when-issued" security (see below), leave the yield blank or enter zero. Commission (a value must be entered for agency trades) Report the commission in the same units as the dollar price, i.e., in dollars per hundred dollars par value. Do not report the total amount of commission, e.g., $50.00. If the trade was effected on an agency basis, report the commission value, even if it is zero. If the trade was a principal trade, leave the commission blank or enter zero. Time of trade (required) Enter the time at which the trade was executed, in hours and minutes. Use the military convention, for example, 2:00 pm is 14:00 hours. The system provides a colon ":" between the hours and minutes. Report the time as Eastern time.
Trade date (required) In this field, the system displays the current date as stored in your PC's clock. If the trade date of the transaction being reported differs from the current date, enter the date on which the trade was executed, in the format month/day/year (e.g., 12/01/98). The system stores four digits, e.g., 1998. (Whether it displays a two- or a four-digit year depends on the format used by the operating system. Use Window NT Settings. . . Control panel. . . Regional settings if you wish to change the format.) Settlement date (required except in certain when-issued trades) Enter the date on which the trade will settle, using the same format as trade date. Dealer (required) In this field, the system displays the executing broker symbol that you entered when you set up the client software. If this is accurate, you may skip the cursor over this field. Otherwise, you may type over the default symbol.
Capacity (required) Enter the dealer's capacity with respect to the customer on this trade, i.e., whether the dealer acted as agent for the customer or as principal with respect to this customer. You may make the entry either by typing "P" or "A" or by using the cursor to pull down the list of values and selecting a value. The default value shown is "Principal". Transaction control number (required unless the previous reference control number is provided) When reporting a trade to the MSRB, you must report a transaction control number. The dealer may assign its own transaction control numbers, but must be sure that all records pertaining to a transaction share the same control number. This allows the CTRS to know which records to update if the transaction data changes, or the transaction is canceled, after it is first reported. If you are reporting a transaction to the CTRS for the first time, enter its transaction control number. As described below, the PC software may assign a default number if you are entering a series of transactions. You may accept the default or type over it. The transaction control number format is unrestricted except for a maximum length of 20 characters. The transaction control number must be one that has not been used for any other transaction reported by the firm in the previous three years, unless the firm has canceled the earlier transaction. You may submit a transaction with a certain transaction control number, cancel the transaction, and then submit different data with the original control number. Cancelling and resubmitting is equivalent to submitting an Amend record. Previous reference (optional) If you are reporting a change to a transaction - an Amend, Cancel, or Verify - you must report the transaction control number with which the transaction was first reported (the "original" control number). There are two alternative ways to do this while completing the Data Entry screen:
Cancel/Amend Code (automatically set by the software) Every trade record sent to CTRS must have a cancel/amend code ("F" for first report of trade, "C" for cancel, etc.). However, this data item is not visible on the Data Entry screen, because it is added by the system based on the type of action you choose before you enter data (New Trade, Delete Trade, etc.). The screen displays the action chosen. Further Information on Data Elements Further information on the data elements just discussed may be found in MSRB Reports and the "Questions and Answers" document as follows: Executing broker symbol MSRB Reports, Vol. 15, No. 3 (October 1995) at 35-37 MSRB Reports, Vol. 17, No. 2 (January 1997) at 9 Time-of-trade MSRB Reports, Vol. 16, No. 21 (June 1996) at 7-8 MSRB Reports, Vol. 16, No. 3 (September 1994) at 17-18 Price and yield: Nos. 17-20. Settlement date: Nos. 21-23. Capacity as agent/principal: Nos. 24-26. Transaction control number: No. 28. Cancel/amend code: Nos. 34-46.
COMPLETING DATA ENTRY FOR ONE TRANSACTION Saving the data After you have filled in all the required fields for the transaction, choose one of the actions listed at the bottom of the Data Entry screen. As shown in Figure 2-3, these are:
Choosing Save & add another saves the data you have entered and returns you to the Data Entry screen to add another transaction record. The saved records are held until you dial up to the CTRS host computer to transmit a file of records. Choosing Save & close saves the data you have entered and leaves the Data Entry screen. You may then close the CTRS application and use the PC for other work, or you may transmit a file to the CTRS host. Choosing Cancel & close does not save the data you have just entered. It closes the Data Entry screen and discards the data. You may choose this option at any time while the Data Entry screen is displayed, for example, if you wish to "erase" the values you have entered.
ENTERING A SERIES OF TRANSACTIONS The option to Save & add another returns you to the Data Entry screen to enter another transaction. The system redisplays the data that was on the screen before you saved it (except the transaction control number). This supports data entry of a series of transactions that have similar data, such as several trades which all share the same CUSIP, trade date, settlement date, etc. If the next trade you enter has different data, be sure to overlay all the appropriate fields. Since every transaction must have a unique control number, when you begin to enter a trade, the system displays a new transaction control number if possible. This happens if you have just completed entering a trade and the control number of the previously entered trade is all numeric. In this way, the system may assign control numbers automatically to a series of transactions. To remind you of this feature, after you Save & add another, the system displays the prompt shown in Figure 2-4.
If the previous transaction's control number is not all numeric (i.e., it contains any letters or spaces, the system cannot increment it and displays the message "Transaction number NOT updated." Instead, the previous transaction control number remains on the screen unchanged. If you are entering a series of transactions, be sure that each control number is accurately entered and that it differs from all the others.
PRINTING AND REVIEWING TRADE RECORDS To print out trade records that you have entered before you transmit them to the CTRS, from the Main screen select File . . . Print. The screen displays a list of all untransmitted files. Alternatively, the Edit feature described below enables you to review the records without printing them out. Note that the print feature applies only to records not already transmitted to the CTRS. After the records are assembled into a file and transmitted, they are saved in a text file that you can print as you print any other file.
The method to use for changing data about a transaction depends on what you have done since you entered the data.5 Correcting format errors immediately after data entry As soon as you choose a Save or Cancel option to leave the Data Entry screen, the client software checks the entries. If it finds questionable data, it will display messages as shown in the sample screen of Figure 2-5.
After you click on "OK," the Data Entry screen reappears. You may change any field on the screen and repeat the checking step. If there are no errors when the data is checked, it is stored and the next screen appears. Editing data before transmission to the host CTRS If you need to change a transaction record after it has been saved but before it is transmitted to the MSRB, look at the display of records on the Main screen (see Figure 2-6). Put the cursor on the record to be changed (scroll the display vertically or horizontally to see the data you want). Click the cursor on the record to highlight it, then select Edit Trade at the bottom of the screen. The record will be displayed on the Data Entry screen, where any field can be changed. (This also is an online method to review the data you have entered, rather than printing the records.)
You may select Delete Trade at the bottom of the screen to delete a highlighted record before sending the file to the MSRB. As an alternative to the selections at the bottom of the Main screen, you may activate the Trade menu at the top of the screen. The menu is divided into two portions; the upper portion offers the same Edit and Delete choices just described. You may sort the records on the Main screen. Put the cursor on any column heading and click it to sort all records on that column. By sorting on fields such as CUSIP number or settlement date, you can review a group of trades. In order to find a particular record, assuming that you know (for example) its control number, sort on control number and scroll up or down to find the number you need. Editing data after transmission to the host CTRS The PC software cannot change a record after it is transmitted to the host system, because it would then differ from the record stored in the central CTRS. However, a record already transmitted to CTRS can be used as the basis of a new record that will amend (i.e., update), cancel or verify CTRS data. A record may have to be amended or canceled because your firm has initiated a change (such as a cancel-and-rebill), or it may have to be amended, canceled or verified in response to an error message from the host CTRS. See the section "Receipts and Error Reports" below for more information on responding to error messages from the host. Reviewing data after transmission to the host You can review trade records after transmitting them to the CTRS host through the screen entitled "Local Client Trade History"6 (See Figure 2-7) Bring up this screen by selecting Trade . . . Amend or Cancel or Verify from the Main screen.
The Local Client Trade History screen displays all fields of the Data Entry screen, as well as data about the name and sequence number of the file in which a record was included when transmitted to the CTRS host. Only a few fields fit on the screen at any one time, but the scroll bars can be used to move the window horizontally or vertically to see more fields or records. You can sort all the records based on any field by clicking on the column heading of that field.
ENTERING DATA FOR CERTAIN "WHEN-ISSUED" TRADES Sometimes customer trades are done in securities that are in "when-issued" (WI) or "new issue" (NI) status before the first settlement date is determined. In this case, the dealer must report either the trade's dollar price or the yield to CTRS, but may omit the other parameter (since settlement date is needed to calculate price from yield, or yield from price). Simply enter the price or yield, whichever is known. When the initial settlement date is determined, the host CTRS will update the trade record in the central database by calculating the missing parameter. In this case it is not necessary for the dealer to submit an Amend record to provide the dollar price or yield. Note that, if the settlement date is known, you must report both the price and the yield for a when-issued trade. The only exception is described in the next paragraph.
ENTERING DATA FOR TRADES IN SECURITIES WITH A NON-FIXED RATE If a municipal security does not have a fixed rate of interest, you should report the dollar price for the trade, but report the yield as blank or zero. Examples of such securities are: variable rate securities, municipal collateralized mortgage obligations, and securities that prepay principal. You should also report the dollar price but no yield for trades in defaulted securities and securities traded on a discounted basis. SECTION 3
SUBMITTING FILES THAT YOU ENTERED Once you finish entering trade records and close the Data Entry screen, you can have the system assemble the records into a file and transmit them to the host CTRS at the MSRB's offices. From the Main screen, select File. . . Transfer trades to MSRB.
NOTE: When you start the CTRS client application (by clicking on the CTRS icon), the system checks for any existing trade records that have not yet been transmitted to the host CTRS. If any records are found, the system displays ATTENTION PLEASE! There are nnn trades that have not been transmitted to MSRB! This message serves as a reminder that trades must be reported by midnight (Eastern time) of trade date, and suggests that there are untransmitted records "left over" from the last data entry session. You may transmit the records before starting to make a new file, or you may add, change or delete some records before transmitting. Before starting a transmission, the system requests you to enter the "account ID" and password. The account ID is the submitter ID followed by the site code, which you entered during the setup procedure. Guidelines for entering the account ID:
If the entered information is incorrect, "Invalid account" is displayed. Verify the information and try changing the position of the CAPS LOCK key, because the system distinguishes FIRM01 from Firm01. The account ID and password typically are both all upper case. The system then displays, Enter the file sequence number. In almost all circumstances you should select OK to accept the default sequence number. This number will be inserted into the header record of your file. (See the "Technical Note" at the end of this section for more information about the file sequence number.) The system then displays a Save as. . . screen with a default file name and folder. In almost all circumstances you should select the default file name shown after Save to. However, if your computer is not able to save file names longer than eight characters, you may get an error message, "The above file name is invalid." If so, see the "Technical Note". The system then displays, Transaction file generated - Start MSRB Transfer? Answer Yes to have the file transmitted to the host CTRS computer. Answer No to defer file transmission. If you answer Yes, the system displays, Connecting to MSRB CTRS. It displays the status of the file transmission. While connected to the CTRS host, the client software retrieves any receipt files that the host created in response to your previous transmissions. See the "Receipts and Error Reports" section below.
SUBMITTING FILES CREATED EXTERNALLY The CTRS client software can be used to transmit customer transaction files that you create outside the Data Entry screen, i.e., "externally." An externally created file must conform to the MSRB's file specifications (see Appendix A). For example, a dealer may wish to create files externally by extracting data from its record-keeping system. To transmit such a file to the CTRS host, from the Main screen select File . . . Transfer external file to MSRB. You will be prompted to enter the account ID and password (see "Submitting Files That You Entered"). The system will display a list of files in the CTRS folder. Click on a file to select it, and choose Open. The file transmission process will start and you will see the Connecting to MSRB CTRS screen mentioned above. Appendix C contains error messages related to file transmission. If you receive a message not shown in this appendix, call the MSRB. FURTHER INFORMATION ON SUBMITTING FILES Further information on the file submission process may be found in the"Questions and Answers" document in items 13-16.
TECHNICAL NOTE ON FILE SEQUENCE NUMBERS AND FILE NAMES This section provides technical details describing how CTRS identifies and names files. If you send files by accepting the system defaults as to file sequence number and file name, you may skip this section. File sequence numbers CTRS customer transaction files consist of a header record followed by detail records (one detail record per transaction). The header record format includes the submission date (actually the date the client software created the file) and a file sequence number to distinguish among files created on a given day. The default sequence number is 0001 for the first file created in a day. As currently designed and operated, it should not be necessary for you to set the sequence number of a file to anything different than the default number. The system provides the opportunity for you to override the default in case it should become necessary. It is strongly recommended that you accept the default sequence number. File names The CTRS system requires unique names for all transaction files. The client software assigns a name to a transaction file when it is created. The name consists of the submitter ID, the site code, a sequential number, and the date. The file extension is CT (customer transaction). A typical file name and extension for submitter SUBM would be: SUBM010001_09151997.CT If your computer is not configured to display file names of more than eight characters (plus a three-character extension), your system might automatically convert the longer file name to a shorter one, such as: SUBM01~1.CT Store the file with the automatically created file name if possible. If your system does not store long file names and does not automatically convert long names to short ones, you should type in a short name in the Save screen. Be sure the name you use is unique, i.e., different from any other customer trade file. After the host CTRS computer processes a file you submit, it creates a receipt file for downloading to your PC (see "Receipt and Error Reports," below). It assigns a name to the receipt file that corresponds to the .CT file you submitted. For example, if your trade file name is SUBM01~1.CT, the corresponding receipt file name will be SUBM01~1.RCT. The header record of the receipt file also repeats information taken from the header of the submitted file, to enable you to match the receipt with the original file.
SECTION 4
The host CTRS produces a receipt file for every customer transaction file it receives. The purpose of the receipt file is to acknowledge that your file was received and to list any errors or apparent errors that the host detected. You may obtain the acknowledgement and error information by requesting the MSRB to send it automatically as a fax to your firm's fax machine, or you may dial up to the host CTRS to download it to your PC as a computer file (the "receipt"). A sample fax is shown in Figure 4-1. MSRB plans to send the fax by 6:00 am for files received by midnight. To get the fax you must inform the MSRB of the person and phone number to which the fax should be sent. The computer file version of the receipt contains the same information as the fax; a sample is shown in Figure 4-2 in printed form. Normally, within a few minutes after you transmit a file to the CTRS, the receipt file is available for downloading. The next time you dial in to the host - either to submit a file or after you select Retrieve Receipts from MSRB - the receipt file is transmitted to your PC and stored in the CTRS folder. To see a list of all files sent to and received from the MSRB, select View . . . Submitted files. On the next screen, the column "Client Filename" shows the name of the submitted file and "Receipt Filename" is the name of the receipt file as stored on your PC. The receipt file is formatted in ASCII and can be displayed or printed by the Windows editor program or by a word processing package.
AMENDING, CANCELING AND VERIFYING TRADES This section describes how to change data about a trade stored in the host system after the trade has been first reported. As noted above in "Changing Transaction Data," the need for a change may arise from conditions detected by your firm or from an error message reported back to you by the host CTRS. Types of Errors Some conditions detected during CTRS processing make the trade unsuitable for public reporting or for storage in the surveillance database - for example, a trade without either price or yield cannot be publicly reported. When such an error is reported back to you, you must correct the information by sending CTRS an Amend, Cancel or Verify record. Other conditions are less serious and do not necessarily make a trade unsuitable for reporting purposes - for example, a "principal" trade that is reported with a non-zero commission (which CTRS handles as though it is an agency trade). The less serious conditions are indicated by error messages that include the words "ATTENTION" or "POSSIBLE ERROR." A response to these messages is not required unless there is an actual error.
The list of error messages in Appendix B distinguishes the more serious error conditions from the less serious ones. Before describing the procedure for creating Amend, Cancel and Verify records, we will note the differences between them.
Procedure for Amending, Canceling or Verifying From the Main screen's Trade menu, choose the action you wish to carry out:
Since these actions will be performed on a record already transmitted to the CTRS, the system now displays the Local Trade History screen. When you find the desired record on this screen, click on Select trade. The record appears on the Data Entry screen.
If the record you wish to change is not displayed in the Local Trade History - because, for example, it was originally reported via a mainframe - choose Not listed - Add at the bottom of the screen. A blank Data Entry screen will appear. Filling out this screen will create a new record with "A", "C" or "V" as its Cancel/Amend code. Follow the same rules as above.
SECTION 5 SECURITY CONSIDERATIONS FOR THE DEALER
The security features of the CTRS client software are meant to prevent unauthorized persons from submitting information or accessing the dealer's proprietary information. As noted in the "Introduction," these "built-in" security features must be coordinated with manual procedures. Some necessary manual procedures are:
If you suspect that the password has been compromised and need to prevent all persons from using PC software until a new password is assigned, delete the file CTRS.EXE from the CTRS directory. Use a program such as Norton Utilities to ensure that no one can restore the file after you delete it.
DATA ELEMENT AND FILE FORMAT SPECIFICATION Please follow the link above.
ERROR MESSAGES RELATED TO CUSTOMER TRADE RECORDS Following are the error codes used in the original implementation of PC TRS. For a current list of error codes, please see Appendix J of the main TRS User's Manual. The CTRS host generates the following error messages, which are displayed in the fax version of the receipt and error report. Shorter and slightly different messages appear in the file version. In the file, "ATTN:" is substituted for the words "POSSIBLE ERROR." These messages refer to the trade records or the file header record. If you receive one of these messages, review the data in the file, determine if it should be corrected, and transmit the appropriate response to the CTRS host (Amend, Cancel or Verify record), unless a response is unnecessary, as noted below. The messages and their IDs are subject to change as the CTRS system is refined.
MINOR ERRORS The following messages alert the dealer to trade data that may be in error or (in the case of late submissions) that cannot be corrected. If the record is actually in error and is correctable, the dealer must respond by sending an "A" record to correct the error. If the dealer determines that the trade was reported correctly or was submitted late, no response is necessary, but the dealer may send a "V" (verify) record to inform MSRB that the data is valid.
MAJOR ERRORS ("REJECTS") Trades with these errors are "rejected," that is, they are not acceptable, as reported, for transaction reporting purposes. The dealer must send a record to amend (correct), cancel or verify any record that has one of these errors. If the dealer reviews the trade and determines that it was correctly reported, he or she must send a "V" (verify) record. For example, error 182 may be shown for a valid CUSIP number assigned by the CUSIP Service Bureau of S&P too late on trade date to be entered into the MSRB master file - in this case the dealer should respond to the error message by sending a "V" record.
NO-ERROR MESSAGE If no errors are found in the file, the following record is sent. No other error messages are sent. Note: In the receipt file downloaded to the client PC, error messages are tagged as type "D" records. However, this "no-error" record is tagged as a type "G" record. (The original MSRB file specification did not include type "G" or "H" records.) Instead of being followed by a type "T" record containing the transaction, the no-error message is followed by a type "H" record, which is blank. Thus the receipt/error file's body has a consistent structure (pairs of detail records), to support dealers who process the error file automatically. 001 FYI: All records were successfully processed (no errors were found)
HEADER ERROR MESSAGES Messages regarding the application header record will appear in the fax or file in the same format as transaction error messages. If the dealer determines there is an error, he or she should call the MSRB. It may be necessary for the dealer to resubmit the entire file. Do not call the MSRB if the only error is number 194, late submission of file.
ERROR MESSAGES RELATED TO FILE TRANSMISSION The CTRS client generates the following error messages, which are displayed on the screen during attempts to transmit a file to the host. If you receive one of these messages, take the action noted below.
ENDNOTES 1. In this manual, Afirm@ refers to any organization involved in customer transaction reporting, whether a broker/dealer, a bank dealer, or a service bureau. 2. Windows 95 and Windows NT are registered trademarks of Microsoft Corporation. MSRB will support operation of the PC TRS software under versions of operating systems that are supported by Microsoft. 3. ACUSIP@ is a trademark of the American Bankers Association. 4. Note: If the security is not known to the MSRB host system as one which is a variable rate instrument or in default, the MSRB may contact the firm reporting the trade to ensure 5. Before transmission, the records are stored in an Access database. They can be viewed and printed only from a CTRS screen or an Access screen while in this database. After transmission, they are copied into a text file which is stored separately from the database. 6. The screen shows all transmitted records that were entered through the Data Entry screen, but not records in external files (files made outside the Data Entry screen). 7. The initial version of the PC software does not support the second format. This format will be added in the next version. Back to TRS User's Manual
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
©2008 Municipal Securities Rulemaking Board. All Rights Reserved. Terms and Conditions of Use. |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
