Regulatory Notice 16-30

FINRA Reminds Firms of their Obligation to Report Accurately the Time of Execution for Transactions in TRACE-eligible Securities

Executive Summary

FINRA reminds firms of their obligation under FINRA Rule 6730 (Transaction Reporting) to accurately enter the “time of execution” for transactions on TRACE trade reports. The “time of execution” of a transaction in a TRACEeligible security generally is the time at which the parties to the transaction agree to all of the material terms sufficient to calculate the dollar price of the trade.

Questions regarding this Notice should be directed to:

  • Patrick Geraghty, Vice President, Market Regulation, at (240) 386-4973;
  • Racquel Russell, Associate General Counsel, Office of General Counsel, at (202) 728-8363; or
  • Joseph Schwetz, Associate Director, Market Regulation, at (240) 386-6170.