Industry Members must submit a firm-initiated correction to CAT (actionType ‘COR’) for an order event record that has already been submitted to CAT and been accepted by the system only if they discover a mistake, such as a data entry error. Corrections must never be used to reflect a change requested by a customer. For example, if an order quantity is mistakenly reported to CAT as 100 rather than 1,000, the Industry Member must correct the error via a correction record. However, if the customer requests that an order quantity be changed from 100 to 1,000 shares, the Industry Member must instead submit an Order Modified event. Correction records submitted to CAT after 8am on T+3, where T is the CAT Trading Day, will be marked as late.

The above guidance does not apply to Customer Accommodation Correction scenarios, where an Industry Member must submit a correction and populate a handlingInstructions value of ‘CAC’ when a ‘COR’ event was submitted to CAT as the result of a customer/client accommodation. Refer to the CAT Industry Member Reporting Scenarios for additional information on this scenario.