Trade Reporting Notice - 9/17/2010

Price Validation and Price-Override Protocol

Executive Summary

FINRA is issuing this Notice to explain the price validation protocol of the FINRA trade reporting facilities and to set forth new guidance on the use of the price-override indicator in trade reports. Firms are required to make systems changes necessary to report in accordance with this guidance no later than November 16, 2010.

 

Questions regarding this Notice may be directed to: 

 

  • The Legal Section, Market Regulation, at (240) 386-5126;  
  • FINRA Operations, at (866) 776-0800; or
  • Office of General Counsel, at (202) 728-8071.