(a) Pursuant to the Rule 9600 Series, the staff for good cause shown after taking into consideration all relevant factors, may exempt, upon application and subject to specified terms and conditions, a member alternative trading system ("ATS") from the trade reporting obligation under Rule 6730, if such exemption is consistent with the protection of investors and the public interest. The
(a) Mandatory Member Participation
(1) Member participation in TRACE for trade reporting purposes is mandatory. Such mandatory participation obligates members to submit transaction reports in TRACE-Eligible Securities in conformity with the Rule 6700 Series.
(2) Participation in TRACE shall be conditioned upon the TRACE Participant's initial and continuing compliance with the following
(a) When and How Transactions are Reported
(1) Reports of secondary market transactions in direct participation programs shall be transmitted to the OTC Reporting Facility on the next business day ("T+1") after the date of execution between 8:00 a.m. and 1:30 p.m. Eastern Time, be designated "as/of" trades to denote their execution on a prior day, and be accompanied by the
The following terms shall have the following meanings for purposes of the Rule 6640 Series.
(a) "OTC Reporting Facility" means the service that, among other things, accommodates reporting of transactions in direct participation programs (DPPs). The OTC Reporting Facility comparison function will not be available for those DPPs that are not eligible for clearance and settlement through
(a) The following are specifically applicable to transactions and business activities relating to securities that, prior to October 26, 2009, had been designated by The Nasdaq Stock Market LLC for inclusion in the PORTAL Market ("PORTAL securities"):
(1) Rules 0130, 0140, 2010, 2020, 2111, 2121, 2232, 2251, 2261, 2262, 2269, 5310, and 8210;
(2) the Rule 8100 and 8300 Series; and
(3)
(a) Pursuant to the Rule 9600 Series, the staff for good cause shown after taking into consideration all relevant factors, may exempt, upon application and subject to specified terms and conditions, a member alternative trading system ("ATS") from the trade reporting obligation under paragraph (b) of Rule 6622, if such exemption is consistent with the protection of investors and the
Pursuant to applicable trade reporting rules, members must indicate on trade reports submitted to FINRA whether a transaction is a short sale transaction ("short sale reporting requirements"). The short sale reporting requirements apply to transactions in all OTC Equity Securities, as defined in Rule 6420. Thus, all short sale transactions in these securities reported to FINRA must
FINRA emphasizes the obligations of members to report securities transactions within the required time period. All reportable transactions not reported within the required time period shall be marked late, and FINRA routinely monitors members' compliance with the reporting requirements. If FINRA finds a pattern or practice of unexcused late reporting, that is, repeated reports of executions
Terms used in this Rule 6620 Series shall have the same meanings as defined in Rule 6420.
Adopted by SR-FINRA-2008-021 eff. Dec. 15, 2008.
Selected Notice: 08-57.
