FINRA Rule 6151 Order
Routing Information Filing
Guide
Version 1
Document Version – 03.22.2024
2
Contents
1. Introduction ........................................................................................................................ 4
2. FINRA Entitlement Program ................................................................................................. 5
3. File Upload Specifications: Introducing Firm Clearing Firm Relationship ................................ 6
4. File Upload Specifications: 606 Reports ................................................................................ 7
5. File Transfer via Machine-to-Machine .................................................................................. 8
6. File Upload via FINRA Gateway ............................................................................................ 9
6.1. Uploads ......................................................................................................................... 10
6.1.1. Upload Files ................................................................................................................... 11
6.1.2. Upload File History ........................................................................................................ 11
6.1.3. File Feedback ................................................................................................................. 12
7. Uploaded File Validation, File Feedback ............................................................................. 13
7.1. Rule 606(a) File Upload Validations, File Feedback .......................................................... 13
7.1.1. File Responses ............................................................................................................... 13
7.1.1.1. Sample Response File Names ..................................................................................... 13
7.1.2. Validations and Corresponding Feedback File ................................................................. 13
7.2. Clearing Firm Relationship File Upload Validations, Feedback File: .................................. 16
8. Support Links .................................................................................................................... 17
Document Version – 03.22.2024
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Document Version History
Date
Version Number
Description
3.22.2024
1
Initial Publication
Document Version – 03.22.2024
4
1. Introduction
The FINRA Rule 6151 Order Routing Information Filing document provides a guide for member firms
who are required to submit to FINRA for centralized publication the order routing reports required
under the Securities and Exchange Commission’s SEC Rule 606(a).
To upload Rule 606(a) Reports, member firms will need to complete the entitlement process for
accessing FINRA’s systems (refer to Section 2 for more information). Once processed, firms may
upload documents through the FINRA Gateway user interface (refer to Section 6 for more
information) or via a direct machine-to-machine file transfer (refer to Section 5 for more information).
Once the reports are submitted, firms will be notified of the file upload status (refer to Section 7 for
more information).
For information on FINRA Rule 6151 and additional requirements visit FINRA Communication Hub.
Rule 606(a) reports submitted to FINRA will be published in the FINRA Data Portal.
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2. FINRA Entitlement Program
FINRA Entitlement Program is the process by which firms are granted secure access to participating
FINRA web applications.
A firm will require a FINRA Entitlement account and a designated Super Account Administrator (SAA)
to submit Rule 606(a) reports using FINRA’s systems.
For FINRA Gateway, refer to the SAA link above on how to get entitlements/account access. In the
case of machine-to-machine file uploads (using fileX), the firm is required to reach out to the FINRA
support group (or via telephone at (800) 321-6273 ) to create/modify user accounts as well as grant
entitlements.
For SAA and machine-to-machine access, firms must:
- Complete the FINRA Entitlement Agreement (FEA)
- Complete the New Organization SAA Form
Once FINRA approves access, the organization’s SAA will receive entitlements, which they can grant
to other users in the organization, or a machine account will be created by the FINRA Entitlement
team.
The entitlement details are as follows:
- Entitlement: SEC Rule 606 NMS Reporting
- Entitlement description: Will allow approved users to upload Rule 606(a) reports through fileX or
via the UI in FINRA Gateway
For support, please refer Section 8
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3. File Upload Specifications: Introducing Firm Clearing Firm Relationship
The following section contains reporting requirements for member introducing firms that, pursuant
to existing SEC guidance, route all their customer orders to one or more clearing firms for further
routing and execution and adopt such clearing firm’s Rule 606(a) reports by reference.
These member introducing firms are required to (i) submit to FINRA a comma separated values (CSV)
file that lists its clearing firm(s) along with a web link to a webpage where the member introducing
firm discloses its clearing firm relationship(s) and adopts the clearing firm’s reports by reference and
(ii) update the submission if the information previously provided changes. Please note, this CSV is a
one-time submission, only requiring subsequent file submission in case a member introducing firm
needs to update the information previously provided to FINRA.
This CSV file submission will be subject to the same publication requirement as Rule 606(a) report
submissions, i.e., the CSV file must be submitted within one month after the end of the calendar
quarter addressed in the report.
While the clearing firms will have to submit Rule 606(a) reports to FINRA, the introducing firms are
responsible for ensuring proper and timely submission of said reports.
The clearing firm relationship CSV file must contain the following details:
- CSV file name format
o Intro firm crd number_606_NMS_ clearing_Firm_Details.csv
▪ Sample file name: 12345_606_NMS_clearing_Firm_Details.csv
- CSV Required fields.
o clearing Firm CRD
o Weblink to the intro firm clearing firm relationship.
Sample Clearing Firm relationship CSV contents:
4567,https://firm123.com/disclaimer-link
1634,https://firm123.com/disclaimer-link
9367,https://firm123.com/disclaimer-link
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4. File Upload Specifications: 606 Reports
Uploads must consist of Rule 606(a) reports in two formats: PDF and XML. If a member firm
submits a subsequent Rule 606(a) report for the same reporting period, the subsequent Rule
606(a) report will replace the previously submitted Rule 606(a) report.
A user should use the following naming template for a Rule 606(a) Report file that will be uploaded
to FINRA.org:
- firm CRD number_606_NMS_YYYY_Qn.PDF
- firm CRD number_606_NMS_YYYY_Qn.XML
Refer Order Routing & Handling Schema Tech Spec for technical specifications on Rule 606(a) PDF,
XML reporting requirements
The following information is required on the Rule 606(a) report for both PDF and XML formats:
- Firm CRD number for whom the report data applies.
- Quarter + year (YYYY_Qx) for which the report data applies.
- An optional suffix (_<suffix>) if desired
- Mention of ‘606’ to identify files as being 606 reports.
- Include NMS to identify 606 NMS reports.
- An optional suffix can be added after the quarter.
Sample file names:
- 12345_606_NMS_2024_Q1.PDF
- 12345_606_NMS_2024_Q1.XML
- 4567_606_NMS_2023_Q4_20240108.XML
Note: For information about what rules/restrictions apply to the filename, refer to section 7, FAQ 5
of the fileX User Guide.
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5. File Transfer via Machine-to-Machine
For IP whitelisting and other instructions/information on machine-to-machine transfers using fileX,
refer to the fileX User Guide.
For the list of validations performed on Rule 606(a) Reports, error codes, and feedback files on
successful/failed file upload, refer to section 7.
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6. File Upload via FINRA Gateway
Accessing FINRA Gateway to upload Rule 606(a) reports requires multi-factor authentication using
DUO Mobile. This applies only to Super Account Administrators (SAA), Account Administrators (AA).
A brief tutorial is available from the login screen. If a user has any difficulties with their FINRA login,
please reach out to the respective firm's Super Account Administrator for assistance.
1) To access FINRA Gateway, click on the link below:
https://gateway.finra.org/
2) On the left navigation, there are shortcuts to the features in FINRA Gateway. Navigate to Upload
Files section.
3) Select the following from Application, Application Space
Application: 606nms
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Application Space (entitlement name): SEC Rule 606 NMS Reporting
6.1. Uploads
There are three tabs under Uploads:
1. Upload Files
2. Upload File History
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3. File Feedback (covered in section 7)
6.2. Upload Files
To upload Rule 606(a) Reports in FINRA Gateway, either drag and drop them into the dotted area or
select and upload them by clicking on Browse -> Select File -> SUBMIT.
Once the file has been uploaded, you will receive a pop-up message on the right corner of the
Dashboard: “File was uploaded successfully. View Upload File History.”
6.3. Upload File History
All uploaded files are available in the “Upload File History” tab. You can find the File Name, File Upload
Date, File Size for uploaded files, and use the tool tip to show the status for each uploaded file.
Uploaded files can be downloaded by clicking on the “Download” icon.
Files in the Upload File History directory will be stored for up to a period of 30 days.
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The possible list of statuses can be viewed by hovering over the tooltip next to the Status columns.
6.4. File Feedback
File Feedback includes files with processing results for the Rule 606(a) Reports file uploaded. To verify
that the file upload was successful or to view the error message(s) for a rejected file, download the
feedback file by clicking on the “Download” icon.
For the list of validations performed on Rule 606(a) Reports, error codes, and feedback files on
successful/failed file upload, refer section 7.
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7. Uploaded File Validation, File Feedback
7.1. Rule 606(a) File Upload Validations, File Feedback
Upon submitting SEC Rule 606(a) Reports using either FINRA Gateway or machine-to-machine, a
feedback file will be provided indicating a successful or failed file upload.
7.2. File Responses
The following format will be used to create file/content acceptance/rejection files in response to the
uploaded 606 reports.
• File acceptance
o <Original File Name>.ts<posix formatted file receipt timestamp>.fileaccept.csv
• File/Content rejection
o <Original File Name>.ts<posix formatted file receipt timestamp>.reject.csv
7.3. Sample Response File Names
PDF
- 7890 _606_ NMS_YYYY_Qn.PDF.ts1682913600.fileaccept
- 7890 _606_ NMS_YYYY_Qn.PDF.ts1682913600.reject.csv
XML
- 7890_606_ NMS_YYYY_Qn.XML.ts1682913600.fileaccept
- 7890_606_ NMS_YYYY_Qn.XML.ts1682913600.reject.csv
7.4. Validations and Corresponding Feedback File
Upon Rule 606(a) Report submission, users will receive a feedback file indicating whether the file was
accepted or rejected.
Section 7.2.1 contains a list and a brief explanation of error codes associated with file rejections. These
error codes will be provided in the reject feedback file (csv), covered in Section 7.2.2.
Section 7.2.3 includes a sample feedback file (csv) for successful Rule 606(a) Report upload.
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7.4.1.1. Sample Feedback
Nb
Applicable
to
Brief Explanation
Warning/
Error
pdf/xml
1
File
Feedback
Invalid pdf
ERROR
pdf
2
File
Feedback
Error code is
generated when file
format is invalid, file
name contains a
future review
period, file format is
not PDF/XML
ERROR
pdf &
xml
3
File
Feedback
Error code is
generated when
the CRD in the
filename is invalid.
This can happen
when the CRD
number does not
exist or when it is
not valid for at least
one day during the
given review
period.
ERROR
pdf &
xml
4
Content
Feedback
Failed to parse
input file content.
All the standard
XML handling will
be part of this error
ERROR
xml
5
Content
Feedback
Error code is
generated when
the XML data is
Repetitive Monthly
data for <MMYYYY>
ERROR
xml
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Rejected Feedback File
If the uploaded Rule 606(a) Report is rejected, the user will receive a rejection file (csv) with one or
more error codes and corresponding error messages indicating the reason.
Sample Rejected File Name Format
- PDF: 7890 _606_ NMS_YYYY_Qn.PDF.ts1682913600.reject.csv
- XML: 7890_606_ NMS_YYYY_Qn.XML.ts1682913600.reject.csv
Sample Error Message(s) for Error Code
1. Example 1
a. Error code: INVALID_FILE_FORMAT
b. File Name : 7890 _606_ NMSS_YYYY_Qn.XML
c. Rejection Feedback File:
d. Sample Error Message(s):
i. File format of the file submitted doesn't match the Expected format (CRD_606_
NMS_YYYY_Qn.XML)
2. Example 2
a. Error code: INVALID_REPORTING_PERIOD
b. File Name: 7890 _606_ NMS_2023_Q4.PDF
c. Sample Error Message(s):
i. Year format of the file submitted doesn't match the Expected format (CRD_606_
NMS_YYYY_Qn.XML)
3. Example 3
a. Error code: INVALID_CRD
b. File Name: 780_606_ NMS_YYYY_Qn.PDF
c. Sample Error Message(s):
i. CRD Number of the file submitted doesn't match the Expected format (CRD_606_
NMS_YYYY_Qn.XML)
4. Example 4
a. Error code: INVALID_XML
b. File Name: 7890_606_ NMS_YYYY_Qn.XML
c. Sample Error Message(s):
i. The value '0.00' of element 'netPmtPaidRecvNonMarketableLimitOrdersCph'is
not valid
ii. Invalid content was found starting with element
'netPmtPaidRecvMarketOrdersUsd'. One of '{otherPct}' is expected
5. Example 5
a. Error code: DUPLICATE_RECORD
b. File Name: 7890_606_ NMS_YYYY_Qn.XML
c. Sample Error Message(s):
i. Repetitive Monthly data for <072023>
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Sample Reject Feedback File
Accepted Feedback File
PDF: 7890 _606_ NMS_YYYY_Qn.PDF.ts1682913600.fileaccept.csv
XML: 7890 _606_ NMS_YYYY_Qn.PDF.ts1682913600.fileaccept.csv
7.5. Clearing Firm Relationship File Upload Validations, Feedback File:
Introducing Firm/Clearing Firm Relationship CSV validation information will be shared in a later version
of this FINRA Rule 6151 Order Routing Information Filing Guide.
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8. Support Links
• The FINRA Support Center can be contacted using the following:
o Email: FINRASupportCenter@finra.org
o Telephone: (800) 321-6273