SLATE Timings

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• SEC Approved FINRA Rules: 2nd January 2025


• SLATE Timings

SLATE Timings

Status: SEC APPROVED RULES 2.1.25 Last Updated: 02 Jan 2025

• The SLATE reporting facility will be available during System Hours of System Open at 6:00:00 a.m. through 11:59:59 p.m. Eastern Time, and System Close is at midnight.

• Loan Events reported after System Close will be rejected, and must be reported on the next business day during SLATE System Hours.

• Partial Amendment No. 1 also changed the reporting cut-off time to 7:00:00 p.m. ET.

  • Loan events effected through 7:00:00 p.m. on a business date (day T) must be reported the same day before System Close.

  • Loan events effected through 7:00:00 p.m. that are reported on a subsequent business day (T+n) will be considered late.

  • Loan events effected after 7:00:00 p.m. are not due until the next business date.

• Loan Events effected on a non-business day (Saturday, Sunday, Holiday or a date SLATE is not open at any time during the day), must be reported on the next business day during System Hours.

Insight:

Partial Amendment No. 1 extended the reporting deadline to 11:59:59 p.m. ET and made a corresponding change to the definition of “SLATE System Hours” in proposed Rule 6510 to specify that the SLATE system is open through 11:59:59 p.m. ET.

FINRA stated that the extension of SLATE System Hours is appropriate to provide additional time to process SLATE submissions at the end of the day.

FINRA stated that, while the SLATE system will provide reporters feedback on submissions that are submitted during SLATE System Hours, the SLATE system will not accept reports submitted after the close of the SLATE system.

Partial Amendment No. 1 also changed the reporting cut-off time in proposed Rule 6530(a)(1)(A) and (b)(1)(A) to 7:00:00 p.m. ET.

FINRA stated that the modification of the proposed loan cut-off time from 7:45:00 p.m. ET to 7:00:00 p.m. ET would provide additional time to report loans that are effected near the end of the day, including time to complete any necessary security set up in SLATE.