FINRA’s SLATE system is designed to facilitate the collection, validation and dissemination of securities lending transaction data as required under Rule 10c-1a. The updated draft v1.1 provides further clarity on key aspects of the reporting framework, including:

• SLATE reporting hours will be from 6:00 a.m. to 11:59 p.m. ET, with reporting required by system close.
  • Loan events effected by 7 p.m. are required to be reported on trade date
  • Loan events effected after 7 p.m. are not due until next business day

• Additional clarity on JSON field names and character lengths

• Enhanced Data Standardization & Validation
  • Introduction of file recorded for tracking and sequencing loan events
  • Stricter validation on MPID, CRD/IARD and LEI identifiers for lenders, borrowers and intermediaries
  • Clearer rules on loan identifiers, execution venues and security identifiers

As FINRA finalizes SLATE, EquiLend continues to monitor developments to ensure a fully integrated 10c-1a reporting solution. Our solution will:

• Seamlessly Connect with FINRA’s SLATE System – Enabling automated and accurate transaction reporting
• Adapt to Regulatory Updates – Incorporating the latest technical and operational requirements as they evolve
• Minimize Compliance Burden – Streamlining data submission through efficient and cost-effective workflows