Regulatory Notice 07-46
FINRA Requests Comment on Proposed Amendments to OTC Trade Reporting Requirements for Equity Securities
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.
|Date||Commenter||Format - Size|
|11/12/2007||Automated Trading Desk, LLC||PDF - 274.45 KB|
|11/15/2007||Ameritrade Holding Corporation||PDF - 38.21 KB|
|11/15/2007||UBS Securities LLC||PDF - 332.12 KB|
|11/12/2007||Pipeline Trading Systems LLC||PDF - 125.73 KB|
|11/8/2007||Financial Information Forum||PDF - 29.21 KB|
|11/6/2007||NYSE Euronext||PDF - 40.68 KB|
|10/26/2007||Liquidnet, Inc.||PDF - 107.38 KB|
|11/16/2007||SIFMA||PDF - 67.22 KB|
|11/30/2007||Bracewell & Giuliani||PDF - 820.34 KB|