Trade Reporting Notice - 7/11/2014

Obligation to Report Cancellations of OTC Trades in Equity Securities, Including Trades Declined by the Contra Party

 

Executive Summary

FINRA is reminding reporting firms of their obligation to report cancellations of over-the-counter (OTC) trades reported to a FINRA facility in accordance with FINRA rules. This obligation applies to all trades reported for publication purposes that ultimately do not clear and settle, including, for example, trades that have been declined by the contra party.

 

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.