Trade Reporting Modifier for Trades that Qualify for the Intermarket Sweep Order Exception to the Trade-at Prohibition Under the Tick Size Plan
Executive Summary
Effective Monday, October 3, 2016, firms are required to use the existing Intermarket Sweep Order (ISO) trade reporting modifier when reporting trades to a FINRA facility that qualify for the ISO exception to the Trade-at prohibition under the plan to implement a tick size pilot program.
Questions regarding this Notice may be directed to:
- Dave Chapman, Senior Director, Market Regulation, at (240) 386-4995; or
- Lisa Horrigan, Associate General Counsel, OGC, at (202) 728-8190.