Resolution:
Set following properties in tra file

Trace.Task.*=true
Trace.Startup=true
Trace.JC.*=true
Trace.Engine=true
Trace.Debug.*=true
bw.plugin.http.server.debug=true
java.property.com.tibco.plugin.soap.trace.inbound=true
java.property.com.tibco.plugin.soap.trace.outbound=true
java.property.com.tibco.plugin.soap.trace.pretty=false
java.property.com.tibco.plugin.soap.trace.filename=/soap_trace.txt
java.property.com.tibco.plugin.soap.trace.stdout=true

Set these entries in the log4j.properties

log4j.logger.com.tibco.spin=DEBUG, tibco_bw_log
log4j.logger.com.tibco.security.tibcryptx.wss=DEBUG, tibco_bw_log

As we internally using WSS4J, we can also set "log4j.logger.org.apache.ws.security=debug, tibco_bw_log" in &ltBW_HOME>/lib/log4j.properties for more details.

************************<&ltAPPROVER COMMENTS>>********************************

For default security vendor (entrust), only the below properties are needed to enable security related tracing:

a) for client side ssl tracing
Trace.Task.*=true

b) for server side tracing
Trace.Task.*=true
bw.plugin.http.server.debug=true

The rest of the tracing properties above are useful in other situations. In addition, for enabling ssl related tracing when security provider is j2se, you will have to set the below in .tra file

java.property.javax.net.debug=ssl

for wss debug trace, you can enable just the below 2 properties in log4j.properties

log4j.logger.com.tibco.spin=DEBUG, tibco_bw_log
log4j.logger.com.tibco.security.tibcryptx.wss=DEBUG, tibco_bw_log

How to turn on detailed ssl/ security trace for debug?