Monthly Disciplinary Actions June 2018
As recently announced, NASDAQ OMX PSX (PSX) is a new equity trading platform scheduled to launch in the second quarter of 2010, pending Securities and Exchange Commission (SEC) approval.
October 21, 2002OATS recently added a Special Handling Code, "TS", for a Trailing Stop Order. For the purposes of OATS reporting, a Trailing Stop Order is defined as follows: In the case of a sell order, a Trailing Stop Order allows the stop price to increase by a predetermined amount or formula (e.g., a specified dollar amount, a percentage of the market price, or some other
NASD is issuing this article to clarify member responsibilities as they relate to OATS reporting when: 1) routing an order to another exchange for handling or execution, and 2) executing an order and reporting the execution on a national securities exchange or a facility operated by a national securities association.
March 3, 2003
The use of OATS Cancel Reports has increased over 210% from January 2002 to January 2003. As a result, NASD is publishing this article to remind firms that Cancel Reports should only be used when a customer or firm completely or partially cancels an order. The submission of a Cancel Report for any other reason may be deemed a violation of the OATS Rules.
NASD finds that firms
NASD is publishing this article to provide guidance to firms on how to report order events to OATS when using an "intelligent" order routing system.
June 27, 2003NASD is publishing this article to provide guidance to members regarding their Order Audit Trail System (OATS) reporting requirements when using more than one market participant identifier (MPID) to display or execute OATS reportable orders.1 If a firm elects to use more than one MPID, the firm must continue to submit its OATS data to NASD in the format prescribed in both the OATS
October 30, 2003OATS Phase 3 reporting of manual orders has not yet been approved by the SEC. NASD, however, is reminding firms that have previously submitted an OATS Subscriber Initiation and Registration Form ("SIRF") indicating that they are Phase 3 firms to periodically review their business model and order handling processes to ensure they continue to qualify as a Phase 3 firm. If
April 6, 2004
NASD is publishing this article to remind members of the definition of "electronic order" reportable under the current OATS Phase 2. The general definition of an electronic order is an order that is captured electronically in an order handling/routing or execution system. An order is deemed electronic by how the order ultimately is captured, even if the order initially is
April 6, 2004
NASD reminds firms that OATS Cancel Reports need not be submitted for Immediate or Cancel ("IOC") or Fill or Kill ("FOK") orders that are not immediately executed. Firms receiving these types of orders are required to include the IOC or FOK special handling code on the OATS New Order or Combined type reports.
An IOC order requires that all or part of the
