September 25, 2006
On September 14, 2006, NASD filed a proposed rule change (SR-NASD-2006-108) to establish a new Trade Reporting Facility in conjunction with the National Stock Exchange ("NSX") that would provide members another mechanism for reporting trades in Nasdaq-listed equity securities effected otherwise than on an exchange.
NASD is issuing this OATS Report to inform members that, if the above-mentioned rule proposal is approved as filed, members will be required to submit a Market Center ID of "DC" on the OATS Execution Report for any transaction executed by a member and reported to the NASD/NSX Trade Reporting Facility.
NASD is expanding the current one character Market Center ID field on the OATS Execution and Combined Order/Execution Reports to two characters to accommodate joint trade reporting facilities between NASD and an exchange. A two character field will allow for the first character to designate NASD and the second character to designate the applicable exchange. For example, as stated above, NASD/NSX trade reporting facility executions would be reported with a code of "DC" indicating NASD/NSX.
The new code of "DC" will be required beginning on the effective date of SR-NASD-2006-108, if approved.
If you have any questions regarding this OATS Report or OATS in general, please call the NASD Helpdesk at (800) 321-NASD.