Regulatory Notice 07-46

FINRA Requests Comment on Proposed Amendments to OTC Trade Reporting Requirements for Equity Securities

Comment Period Expired November 12, 2007

FINRA is issuing this Notice to solicit comments from member firms and other interested parties on two proposals relating to OTC trade reporting requirements applicable to listed and unlisted equity securities.

  • Trade Reporting Structure Proposal. FINRA is proposing to simplify and update the current market maker-based trade reporting structure and is seeking comment on alternative structures, such as, e.g., requiring the sell-side or executing party to report a trade in all cases, except where a trade is with a customer or non-member firm.
  • Linking Proposal. FINRA is proposing to require firms to provide information sufficient to link tape and non-tape reports that are submitted to FINRA for the same overall transaction (e.g., riskless principal or agency where a firm is acting as agent on behalf of another member firm).

These proposals are discussed in greater detail on the following pages.

The views, expressions, findings and opinions expressed in the comments on this Web page are solely those of the author(s) and FINRA accepts no responsibility for the content of the comments: 
DateCommenterFormat - Size
11/12/2007Automated Trading Desk, LLCPDF - 274.45 KB
11/15/2007Ameritrade Holding CorporationPDF - 38.21 KB
11/15/2007UBS Securities LLCPDF - 332.12 KB
11/12/2007Pipeline Trading Systems LLCPDF - 125.73 KB
11/8/2007Financial Information ForumPDF - 29.21 KB
11/6/2007NYSE EuronextPDF - 40.68 KB
10/26/2007Liquidnet, Inc.PDF - 107.38 KB
11/16/2007SIFMAPDF - 67.22 KB
11/30/2007Bracewell & GiulianiPDF - 820.34 KB