Failure of a Participant or person associated with a Participant to comply with any of the rules or requirements of the System may be considered conduct inconsistent with high standards of commercial honor and just and equitable principles of trade, in violation of Rule 2010.
Renumbered from Rule 7270C by SR-FINRA-2008-066 eff. Jan. 1, 2009.
Amended by SR-FINRA-2008
The data elements specified in Rule 7230B(d) are critical to FINRA's compilation of a transaction audit trail for regulatory purposes. As such, all member firms utilizing the trade reporting service of the System have an ongoing obligation to input 7230B(d) information accurately and completely.
Renumbered from Rule 7260C and amended by SR-FINRA-2008-066 eff. Jan. 1, 2009
If a Participant is reported by the System as a party to a trade that has been treated as locked-in and sent to DTCC, notwithstanding any other agreement to the contrary, that party shall be obligated to act as a principal to the trade and shall honor such trade on the scheduled settlement date.
Renumbered from Rule 7250C by SR-FINRA-2008-066 eff. Jan. 1, 2009.
(a) All trades submitted to the System must be locked-in trades prior to entry into the System.
(b) T+N Trade Processing
T+N (or "as/of") entries may be submitted until 8:00 p.m. each business day. “As/of” reports of trades executed on non-business days and T+365 or greater trades will not be submitted to clearing by the System.
(a) Reportable Transactions
Members shall comply with the Rule 7200B Series when reporting transactions to the System, including executions of less than one round lot. All trades that are reportable transactions will be processed pursuant to an effective transaction reporting plan. Trades that are not already locked-in trades will not be accepted by the System. Members must use an alternative
(a) Participation Requirements
(1) Only members of FINRA in good standing may participate in the FINRA/NYSE Trade Reporting Facility.
(2) Participation in the System shall be conditioned upon the initial and continuing compliance with the following requirements:
(A) execution of, and continuing compliance with, a Participant Application Agreement;
(a) The term "Clearing Broker-Dealer" or "Clearing Broker" shall mean the member firm that has been identified in the System as principal for clearing and settling a trade, whether for its own account or for a correspondent firm.
(b) The term "Correspondent Executing Broker-Dealer" or "Correspondent Executing Broker" shall mean the member
FINRA may, upon notice, terminate access to the trade reporting service of the System as to a Participant in the event that a Participant fails to abide by any of the rules or operating procedures of the trade reporting service of the System or FINRA, or fails to honor contractual agreements entered into with FINRA or FINRA Regulation, or fails to pay promptly for services rendered by the trade
Failure of a Participant or person associated with a Participant to comply with any of the rules or requirements of the System may be considered conduct inconsistent with high standards of commercial honor and just and equitable principles of trade, in violation of Rule 2010.
Amended by SR-FINRA-2008-057 eff. Dec. 15, 2008.
Amended by SR-FINRA-2008-021 eff. Dec. 15
