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(a) The term "ADF-eligible security" means an NMS stock as defined in Rule 600(b)(47) of SEC Regulation NMS.
(b) The term "Clearing Broker-Dealer" or "Clearing Broker" shall mean the member firm that has been identified in the ADF as principal for clearing and settling a trade, whether for its own account or for a correspondent firm.
(c) The term "Correspondent Executing Broker-Dealer" or "Correspondent Executing Broker" shall mean the member firm that has been identified in the System as having a correspondent relationship with a clearing firm whereby it executes trades and the clearing function is the responsibility of the clearing firm.
(d) The term "Introducing Broker-Dealer" or "introducing broker" shall mean the member firm that has been identified in the System as a party to the transaction, but does not execute or clear trades.
(e) The term "Participant" shall mean any member of FINRA in good standing that uses the System.
(f) The term "Parties to the Transaction" shall mean the executing brokers, introducing brokers and clearing brokers, if any.
(g) The term "Reportable System Transaction" shall mean those transactions in a ADF-eligible security that are required, or are eligible, to be submitted utilizing the System pursuant to FINRA rules. The term also shall include transactions in ADF-eligible securities that are for less than one round lot.
(h) The term "Reporting Party" or "Reporting Member" shall mean the Participant that is required to input the trade information, according to the requirements in the Rule 6280 Series.
(i) The term "System" shall mean the Alternative Display Facility ("ADF") for purposes of trades in ADF-eligible securities as defined in Rule 6220.
|Amended by SR-FINRA-2014-045 eff. Dec. 1, 2014.
Amended by SR-FINRA-2013-053 eff. Feb. 3, 2014.
Amended by SR-FINRA-2008-021 eff. Dec. 15, 2008.
Amended by SR-NASD-2006-091 eff. March 5, 2007.
Amended by SR-NASD-2006-087 eff. Aug. 1, 2006.
Amended by SR-NASD-2005-087 eff. Aug. 1, 2006.
Amended by SR-NASD-2005-108 eff. Sep. 8, 2005.
Adopted by SR-NASD-2002-97 eff. July 29, 2002.
Selected Notice: 08-57.