ORF Migration - Overview

FINRA is planning on launching a new OTC Reporting Facility (ORF) technology platform for the reporting of transactions in OTC equity securities (i.e., non-NMS stocks) and transactions in restricted equity securities effected pursuant to Securities Act Rule 144A. The ORF will no longer operate on the NASDAQ OMX ACT technology platform.The FIF ORF Migration Working Group was formed to focus on the implementation issues associated with the ORF platform migration.