• Misclears: Trades cleared in error will be backed out through the ACT System, with the exception of SLEDS transactions. Back out of differential spread trades will still be processed through two-sided entry using ‘E’ as the Transaction Type. The firm that originally cleared a sell will be required to initiate a Misclear transaction. Firms have the option of initiating a Misclear through the following methods: 1) using a database accessed through the ACT System that will contain cleared data for the previous four business days allowing the user to mark a trade as a Misclear, 2) manually keying the transaction through the ACT System using the ‘Create Summary’ screen, 3) submitting via an Application Program Interface (API), or 4) going through the firm’s bookkeeping system using the current TREX format. Misclears initiated through use of the database, ‘Create Summary’ screen and API will use From/To logic. The initiating firm will be the ‘From Sell’ clearing an offsetting buy position, while the claiming firm will be the ‘To Sell’, clearing an offsetting sell position. If a firm chooses #4 to initiate a Misclear, the Misclear will be submitted as an offsetting buy position with a Transaction Type ‘3’, for both future and option contracts, using the TREX record format. The Clearing Corporation will accept these positions, and convert them to the From/To logic format, loading a ‘From-Sell’ into the ACT System. For additional information please refer to Volume 22 – Bulletin #49. All applicable API messages sent back to firms will contain a ‘3’ in the Transaction Type field. Please refer to the one-sided entry clearing matrix below for details pertaining to Trade Register Data File detail records.

• Transfers: The firm where the positions currently reside (or the From firm) will initiate the Transfer transactions. Firms have the option of initiating position transfers using the following methods: 1) Manually keying the transaction through the ACT System using the ‘Create Summary’ screen, 2) submitting via API, 3) going through a firm’s bookkeeping system using the current TREX format, 4) or submitting a diskette to the Clearing Corporation. Option #4 will require both firms to submit a transfer file via diskette, which will be matched and displayed in OTIS Trade Inquiry screens. Transfers initiated through use of the ‘Create Summary’ screen and API will use From/To logic. If a firm chooses #3 to initiate a Transfer, the Transfer will be submitted as an offsetting buy or sell position as a Transaction Type ‘8’, for both future and option contracts, using the TREX record format. The Clearing Corporation will accept these positions and convert them to the From/To logic format, loading a From-Buy or From-Sell into the ACT System. For options, firms can still submit a From-Buy or From-Sell Transfer as an ‘H’ card. All applicable API messages sent back to firms will contain an ‘8’ in the Transaction Type field.

Additionally, a feature has been added that will allow the firms to produce an equity run using the previous day’s settlement price. This feature will give firms the ability to verify the accuracy of transfer positions by allowing them to cross check against a firm-produced equity run or customer statement.

• Average Price Give-ups/Transfers: Firms will now be allowed to give-up or transfer positions that also include an actual average price or a rounded average plus residual per contract through the ACT System. To give-up or transfer an Average Price transaction, firms will be required to include the A8 block of the TREX record layout that contains actual average price and residual information. Firms will have the option of entering the trade directly into the ACT System using the ‘Create Summary’ screen.

• Memo Adds of Give-up Transactions: Firms will now have the ability to memo add pit and a/c/e Give-up transactions through the ACT System, using the ‘Create Summary’ screen and selecting the appropriate session indicator.