October 24, 2006
On September 29, 2006, NASD filed a proposed rule change (SR-NASD-2006-115) to establish a new Trade Reporting Facility in conjunction with the Boston Stock Exchange ("BSE") that would provide members another mechanism for reporting trades in exchange-listed 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 "DB" on the OATS Execution Report for any transaction executed by a member and reported to the NASD/BSE Trade Reporting Facility.
NASD is expanding the current one character Market Center ID field on the OATS Execution Report 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/BSE Trade Reporting Facility executions would be reported with a code of "DB" indicating NASD/BSE.
The new code of "DB" will be required beginning on the effective date of SR-NASD-2006-115, if approved.
If you have any questions regarding this OATS Report or OATS in general, please call the NASD Helpdesk at (800) 321-NASD.