MARKETS SHOCKED!
INDUSTRY HEADS SPINNING!
REACH OUT TO US NOW!
What You MUST Know:
- Hold on to your hats, folks! FINRA is set to unleash a jaw-dropping **UPDATE**: Fractional Share reporting goes live on **MONDAY, FEBRUARY 23, 2026!** Buckle up for massive changes ahead!
- Remember the buzz from March 2024? FINRA is charging ahead with turbocharged enhancements to its equity trade reporting—allowing the reporting of fractional shares! This is a REVOLUTION in trade reporting, and the world needs to be ready!
- The UTP SIP is stepping up its game, launching changes to align with FINRA’s updated trade reporting guidance! Mark your calendars! The clock’s ticking for these updates to hit in the **THIRD QUARTER OF 2025!**
- Attention all traders! UTP SIP will roll out updated specifications as part of a **“Hot Cut”** release! Get the scoop on the new rules before everyone else!
What’s SHAKING Things Up?
Buckle up! This initiative is turbocharging the UTP SIP to support fractional share trade reporting. The UTP Processor is about to make some INCREDIBLE changes to keep traders on their toes.
UTP Trade Data Service Changes
- Ready for this? Fractional share amounts as tiny as one millionth of a share (0.000001 shares!) will now be supported! That’s right; even the tiniest transactions get the spotlight!
- NEW trade messages are coming to life, supporting ALL types of trades! Say goodbye to the old and hello to modern trade reporting with a SINGLE volume field!
- Get ready to see:
- Current-day trade reports!
- Trade cancellations and errors, fixed on the fly!
- Trade corrections in a flash!
- As-of reports from the day before!
- The ultimate closing trade summary!
- Total volume stats that matter MOST!
Don’t sleep on the NEW message format changes hitting the scene! Be ready for both the old and new formats—just in case the unexpected happens!
Who Needs to Brace for the Change?
All Direct Data Feed Recipients must prepare for this MAJOR update to UTP Trade Data Services! If you’re an Indirect Recipient, you should have a smooth ride thanks to your Data Feed Provider!
UTP Trade Messages Cutover Madness
- Get this: On launch day, brand new messages will **IMMEDIATELY** replace ALL existing messages concerning trade reports and share volume! Ignored trades? Not on our watch!
- ALL direct data recipients better be on their game. Those who fail to adapt risk LOSING access to critical trading data. Don’t be that trader!
Timeline Ticking Down Fast!
UPDATE Timing: MONDAY, FEBRUARY 23, 2026
The UTP SIP and SIAC are teaming up in a MISSION to create a smooth transition! They will work closely with the industry—no one’s getting left behind in this transition!
Testing Opportunities Galore!
In coordination with FINRA, prepare for an avalanche of testing options!
| Test Type | Scheduled Dates | What’s Happening |
|---|---|---|
| Evening Test Transmissions | Nightly from December 2025 until launch! | Join the excitement every weeknight from 9:30 PM – 10:30 PM! Test data will flood the “Test Broadcast” IP Multicast channels, and NO registration is required! Expect nothing less than a wild ride with the new formats! |
| Saturday User Acceptance Test (UAT) | Tentative: November 15, 2025; December 13, 2025; January 10, 2026; February 7, 2026; February 21, 2026 (confidence test) |
FINRA will be testing the data flow like never before! Watch as it gets disseminated—this is the real deal! |
| Tentative Production Launch | February 23, 2026 | Brace yourselves! A **“Hot Cut”** production implementation is on the horizon! |
Need More Information? We’ve Got You Covered!
