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Technical Notice

Participation in the New FINRA/Nasdaq Trade Reporting Facility

July 31, 2018

The SEC has approved a proposed rule change to establish a new FINRA Trade Reporting Facility in conjunction with Nasdaq (the FINRA/Nasdaq TRF Chicago). Firms that intend to be a participant in the FINRA/Nasdaq TRF Chicago must submit a FINRA/Nasdaq TRF Chicago Participation Request Form to the FINRA/Nasdaq TRF and FINRA, in accordance with amendments to FINRA Rule 7200A that are scheduled to become effective on September 10, 2018

In addition, FINRA has revised the FINRA Transparency Services Uniform Executing Broker Agreement and the FINRA Transaction Fee Transfer Agreement to reflect the FINRA/Nasdaq TRF Chicago. Firms are required to update their existing FINRA Transparency Services Uniform Executing Broker Agreement and execute a new FINRA Transaction Fee Transfer Agreement (as applicable), if they intend for those agreements to apply to the FINRA/Nasdaq TRF Chicago. This requirement does not apply to firms that currently have executed Agreements on file with FINRA and do not plan to use the FINRA/Nasdaq TRF Chicago. Firms executing new Agreements after the date of this Notice should use the revised versions, which are now online at FINRA.org

Firms must submit the required Participation Request Form and agreements, as applicable, before they begin reporting to the FINRA/Nasdaq TRF Chicago.

For more information on the FINRA/Nasdaq TRF Chicago, please refer to Nasdaq Equity Trader Alerts 2018-41 and 2018-52.

Questions regarding this notice should be directed to FINRA Market Operations at (866) 776-0800 or by email