Transaction Reporting

RTRS Web Certification Test Plan For Customer Trades

RTRS Web is a reporting mechanism for submitting customer and inter-dealer regulatory only (IDRO) trades as well as modifications to regulatory data on inter-dealer trades.  This document provides an overview of the RTRS Web Certification Test Plan.  Dealers requesting submit, modify and cancel privileges for RTRS Web must successfully complete several test scenarios.  Each dealer will then send to MSRB a results sheet containing the XREFs (unique dealer control number assigned to each transaction) of its test trades.  MSRB staff will check the results and certify the dealer for RTRS Web once scenario requirements have been met.

Dealers may choose to complete the RTRS Web Certification Test Plan on their own or attend one of several conference calls facilitated by an MSRB staff member.  Conference calls will serve two purposes:  a demonstration of the features of RTRS Web and a walk-through of the RTRS Web test plan.  Each session will last approximately 30 minutes and have a maximum capacity of 25 callers.  Preregistration for the conference calls is not required; however, since space is limited, attendance is available on a first come basis.  Conference calls will be held on Monday and Wednesday at 4:00 PM EST and Tuesday and Thursday at 2:00 PM EST each week beginning Monday September 27, 2004 through Monday January 10, 2005.  The conference call number is 877-288-4427 and the conference ID is 927595.

Test Data

            The following test data may be used:

            Cusip                            649787YP7

            Trade Date                    Current date

            Time of Trade                 Current time within 15 mins. (EST, Military time)

            Settlement Date             T+3

            Par                               1000

            Dollar Price                   100

            Yield                             4

Questionable Errors

            Scenario 8A of the test plan requires submission of a trade with a questionable error.  Choose one of the following:

            Q151                Commission more than 10% of dollar price

                                    (Example:  $200 commission on $1000 bond)

            Q22E                Time of trade before 0600 or after 2100

                                    (Example:  Time of trade of 0200 or 2200)

            Q331                Par value not a multiple of $1000

                                    (Example:  Par amount of $750)

Results Sheet

   Download and save the Excel spreadsheet available here (RTRSWebTestPlan.xls).  Follow the instructions at the top of the spreadsheet.  You will need to e-mail as an attachment the completed spreadsheet to RTRSCertTesting@msrb.org for validation.

Step 1:  Logon to RTRS Web with username and password assigned by MSRB

1.)     Go to www.msrb.org.

2.)     Click on Log-in at the homepage.

3.)     Enter username and password.

4.)     Click on RTRS Web Interface and again on the next page.

5.)      Client Authentication box will appear; select certificate to use, and then OK.  You should be on the MSRB RTRS Web homepage.


Step 2:  Submit mandatory test trades via RTRS Web

1.)     Scenario 8A:  The first trade that you will submit contains a questionable error.

a.       Go to RTRS Web and click on New Trades, then New Customer Trade (or Enter New Customer Trade under Quick Links).

b.       Enter the trade information on the screen making sure to create one of the questionable errors listed above. Report capacity as principal. Use XREF 8A.


c.       Click on Save Trade. The screen below should appear.


2.)     Scenario 8B:  You will now modify the previous trade to fix the questionable error, thus creating a satisfactory trade.

a.       Go to RTRS Web and click on View Trades, then Trade Management (or Trade Management under Quick Links).


b.       Select the trade you just entered by clicking on it and scroll to the bottom of the screen.  The trade should be marked as questionable (?) and the error listed.


c.       Correct the data causing the error and click on Save Trade.

d.       Go back to Trade Management and ensure that the trade is satisfactory (√).


3.)    Scenario 32A:  You will create a satisfactory trade (error-free).

a.       Enter another customer trade by clicking on New Trades, then New Customer Trade (or Enter New Customer Trade under Quick Links). Report capacity as agent. Use XREF 32A.

b.       Click on Save Trade.

4.)    Scenario 32B:  You will now cancel the trade you just entered.

a.       Go to View Trades, then Trade Management (or Trade Management under Quick Links).  Select the trade you just entered in scenario 32A by XREF and click on Cancel Trade.

b.       Go back to Trade Management and ensure that trade is cancelled (X).


c.       Enter the XREFs of test trades 8A, 8B, 32A, and 32B in the Results Sheet in the appropriate fields.

Step 5:  Submit "as appropriate" trades via RTRS Web

1.)     Scenarios 50A-50G:  Submit any trades from the list below that apply to the types of trades your firm effects.  For when-issued trades, a when-issued cusip will be provided by MSRB ( a when-issue CUSIP is posted daily at www.msrb.org/msrb1/TRSweb/RTRSCerttest.asp).  Note—If you must submit more than one “As Appropriate” trade, you can select the box in the top left corner that says, “Use this information for my next trade.”  The data will be saved and then copied to the next trade page; you will need to enter a new XREF and change the data to that required in the next test scenario.

a.       Traded flat—Enter new trade and choose in Special Condition/Special Price field “Trading flat impacts price (mkt not trading flat)”.  Use XREF 50A.


b.       Settlement other than Regular Way affected price—Enter new trade with settlement date other that T+3 and choose in Special Condition/Special Price field “Settlement not regular way impacts price”.  See diagram above.  Use XREF 50B.

c.       Weighted average price-- Enter new trade and choose “Yes” in Weighted Average Price field.  Use XREF 50C.


d.       From syndicate member at list price (EOD deadline)-- Enter new trade and choose in Special Condition/Extension field “EOD – Syndicate Trade @ list price, 1st day”.  Use XREF 50D.


e.       VRDO, CP or auction rate (EOD deadline)-- Enter new trade and choose in Special Condition/Extension field “EOD – Variable Rate/Auction Rate/CP”.  See diagram above.  Use XREF 50E.

f.         When - issued trade effected on the basis of yield—Enter new trade with when-issued cusip and submit Yield only (no dollar price).  Use XREF 50F.

g.       When- issued trade effected on basis of dollar price— Enter new trade with when-issued cusip and submit Dollar Price only (no yield).  Use XREF 50G.

h.       Enter the XREFs of 50A-50G in the Results Sheet in the appropriate fields.

Step 6:  E-mail Results Sheet to MSRB

1.)  Save the completed RTRSWebTestPlan.xls and e-mail as an attachment to RTRSCertTesting@msrb.org. MSRB staff will check your results and contact dealers that failed any test scenario.

Step 7 : Certification

MSRB staff will notify dealers that have successfully completed RTRS Web Certification Testing for Customer Trades.

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