(a) General
Except as set forth in paragraphs (b) and (c) of this Rule or otherwise set forth in this Rule Series, the compliance date for this Rule Series is the date of Commission approval.
(b) Clock Synchronization
(1) Each Industry Member shall comply with [Rule 6820] with regard to Business Clocks that capture time in milliseconds commencing on or before March 15, 2017.
(2) Each Industry Member shall comply with [Rule 6820] with regard to Business Clocks that do not capture time in milliseconds commencing on or before February 19, 2018.
(c) CAT Data Reporting
(1) Each Industry Member (other than a Small Industry Member) ("Large Industry Member") shall record and report the Industry Member Data to the Central Repository, as follows:
(A) Phase 2a Industry Member Data by June 22, 2020;
(B) Phase 2b Industry Member Data by July 20, 2020;
(C) Phase 2c Industry Member Data by April 26, 2021;
(D) Phase 2d Industry Member Data by December 13, 2021; and
(E) Phase 2e Industry Member Data by July 11, 2022.
(2) Each Industry Member that is a Small Industry Member shall record and report the Industry Member Data to the Central Repository, as follows:
(A) Small Industry Members that are required to record or report information to FINRA’s Order Audit Trail System pursuant to applicable SRO rules (“Small Industry OATS Reporter”) to report to the Central Repository Phase 2a Industry Member Data by June 22, 2020;
(B) Small Industry Members that are not required to record or report information to FINRA’s Order Audit Trail System pursuant to applicable SRO rules (“Small Industry Non-OATS Reporter”) to report to the Central Repository Phase 2a Industry Member Data by December 13, 2021;
(C) Small Industry Members to report to the Central Repository Phase 2b Industry Member Data, Phase 2c Industry Member Data, and Phase 2d Industry Member Data by December 13, 2021; and
(D) Small Industry Members to report to the Central Repository Phase 2e Industry Member Data by July 11, 2022.
(3) Introducing Industry Members must comply with the requirements of the CAT NMS Plan applicable to Small Industry Members.
