For certain types of OTC securities, SEC Rule 15c2-11 requires that a broker dealer, among other requirements, confirm that certain information about the issuer of an OTC security is current and publicly available before providing a quote on such security.
ICE’s 15c2-11 service provides over 80 fields of data per security, providing broker-dealers with information to help determine which OTC securities can be quoted, including those which are covered by no-action letter exemptions. The service can help broker-dealers create quote/no quote lists leveraging a database that encompasses fixed income securities, including global sovereigns, global corporates, and money market instruments. An additional ICE service is also available which covers securitized products and the specific fields and exemptions applicable to that asset class.
Specifications
Key Features
- Over 80 data points to help a broker-dealer determine its ability to quote
- Issuer data including:
- official name,
- country and state of incorporation,
- issuer or ultimate parent listing flag (to identify where a US listed equity exists),
- business description
- Central Index Key (CIK number) of issuer, parent and ultimate parent
- foreign, private issuer flag (i.e. non-US entity with primary listing ex-US)
- bank issuer flag (as defined in section 3(a)(6) of the Exchange Act)
- Security information including:
- asset type,
- registration exemption flag (as per Rule 144A) and link to Reg-S ‘sibling’
- Non-US sovereign debt indicator
- Rolling 60-day average daily trading volume
- Data delivery via ICE Data Files containing ICE’s universe of over 1.2 million securities across corporate, sovereign and money market debt instruments.
- Additional file available containing securitized products
- Delivered on a daily basis
Products
The evolution of our file-based offering. Bringing together, in a unified solution Corporate Actions, Reference Data, Analytics and our wealth of pricing datasets including ICE Evaluations, CEP, Fair Value Information Services & Listed Market Pricing.
Buy-side and sell-side front offices continue to embrace more data and more technology in order to expand their opportunities and gain an edge over the competition. Enrich front office systems with ICE’s Data API solution, providing intraday access to fixed income pricing, on-demand analytics, reference data and more.