Alternative Trading System (ATS) Transparency

FINRA, pursuant to Rule 4552, requires each alternative trading system (ATS) to report to FINRA weekly volume information and number of trades regarding equity securities transactions within the ATS. FINRA also requires each ATS to acquire and use a single, unique market participant identifier (MPID) when reporting information to FINRA. Each ATS is required to report weekly aggregate volume information on a security-by-security basis to FINRA.

FINRA will publish the information regarding NMS stocks in Tier 1 of the NMS Plan to Address Extraordinary Market Volatility (i.e., those NMS stocks in the S&P 500 Index or the Russell 1000 Index and certain ETPs) on a two-week delayed basis and the information on all other NMS stocks and OTC Equity Securities subject to FINRA trade reporting requirements on a four-week delayed basis.