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6110. Definitions

This rule is no longer applicable. NASD Rule 6110 has been superseded by FINRA Rules 7210A and 7310. Please consult the appropriate FINRA Rules.

(a) The term "Browse" shall mean the function that permits a Participant to review (or query) for trades in the System identifying the Participant as a party to the transaction, subject to the specific uses contained in the System Users Guide.
(b) The term "Clearing Broker/Dealer" or "Clearing Broker" shall mean the member firm that has been identified in the System 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 terms "Participant," "Reporting Order Entry Firm," "Correspondent executing broker/dealer," "Correspondent executing broker," "Introducing broker/dealer," "Introducing broker," "Clearing broker/dealer," and "Clearing broker" shall also include, where appropriate, the Non-Member Clearing Organizations listed in Rules 6120(a)(4) below and their qualifying members.
(f) The term "Parties to the Transaction" shall mean the executing brokers, Introducing Brokers and Clearing Brokers, if any.
(g) The term "Reportable Security" shall mean all designated securities as defined in Rule 4200, all eligible securities as defined in Rule 6410, all OTC Equity Securities as defined in Rule 6600, and all Direct Participation Programs as defined in Rule 6910.
(h) The term "Reportable System Transaction" shall mean those transactions in Reportable Securities that are eligible to be submitted using the System pursuant to NASD rules. The term also shall include transactions in Reportable Securities that are for less than one round lot.
(i) The term "Reporting ECN" shall mean a member of NASD that is an electronic communications network or alternative trading system, as those terms are defined in SEC Rule 600, that is a participant of a registered clearing agency for clearing or comparison purposes or has a clearing arrangement with such a participant, to the extent that transactions executed through it are reported to the System.
(j) The term "Reporting Market Maker" shall mean a member of NASD that meets the definition of Market Maker in Rule 4200 and is a member of a registered clearing agency for clearing or comparison purposes or has a clearing arrangement with such a member.
(k) The term "Reporting Order Entry Firm" shall mean a member of NASD that is a firm that executes orders but does not act as a market maker in the instant transaction and is a member of a registered clearing agency for clearing or comparison purposes or has a clearing arrangement with such a member.
(l) The term "Reporting Party" shall mean the Participant that is required to input the trade information, according to the requirements of the trade report input rules applicable to the System contained in Rule 6130.
(m) The term "System" shall mean the NASD/Nasdaq Trade Reporting Facility for purposes of trades in designated securities as defined in Rule 4200, the trade reporting service of the ITS/CAES System for purposes of eligible securities as defined in Rule 6410, and the OTC Reporting Facility for purposes of OTC Equity Securities as defined in Rule 6600 and Direct Participation Programs as defined in Rule 6910.
(n) The term "Trade Reporting Participant" or "Participant" shall mean any member of NASD in good standing that uses the System.
Amended by SR-NASD-2006-104 eff. March 5, 2007.
Adopted by SR-NASD-2005-087 eff. Aug. 1, 2006.

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