Regulatory Notice 16-39

SEC Approves Rule Change to Require Reporting of Transactions in U.S. Treasury Securities to the Trade Reporting and Compliance Engine (TRACE)

Reporting Implementation Date: July 10, 2017

Executive Summary

Beginning July 10, 2017, FINRA member firms must begin reporting transactions in U.S. Treasury Securities to FINRA via TRACE. This Notice describes the scope of the term “U.S. Treasury securities” for purposes of the new reporting requirement; the specific transactions in U.S. Treasury securities that are reportable and those that are exempt from the reporting requirement; and the information that must be reported to TRACE when reporting transactions in U.S. Treasury securities, including a new trade indicator and two new modifiers. FINRA is publishing technical specifications concurrently with this Notice, which are available on FINRA’s website. At this time, FINRA will not disseminate information on transactions in U.S. Treasury securities and will not charge transaction-level fees on transactions in U.S. Treasury securities reported to TRACE.

The new rule text is available in the online FINRA Manual on FINRA’s website.

Questions concerning this Notice should be directed to:

  • Chris Stone, Vice President, Transparency Services, at (202) 728-8457;
  • Patrick Geraghty, Vice President, Market Regulation, at (240) 386-4973; or
  • Brant Brown, Associate General Counsel, Office of General Counsel, at (202) 728-6927.