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6130E. Trade Report Input

This rule is no longer applicable. NASD Rule 6130E has been superseded by FINRA Rule 7230B. Please consult the appropriate FINRA Rule.

(a) Reportable Transactions
Members shall comply with the Rule 6100E Series when reporting transactions to the System, including executions of less than one round lot. All trades that are reportable transactions will be processed pursuant to an effective transaction reporting plan. Trades that are not already locked-in trades will not be accepted by the System. Members must use an alternative mechanism to report and clear these trades.
(b) When and How Trade Reports are Submitted
Participants shall transmit trade reports to the System for transactions in Reportable Securities within 90 seconds after execution.
(c) Which Party Inputs Trade Reports
Participants shall, subject to the input requirements below, input trade reports. Trade data input obligations are as follows:
(1) in transactions between a Reporting Market Maker and a Reporting Order Entry Firm, the Reporting Market Maker shall be required to submit a trade report to the System;
(2) in transactions between two Reporting Market Makers, the member representing the sell side shall be required to submit a trade report to the System;
(3) in transactions between two Reporting Order Entry Firms, the member representing the sell side shall be required to submit a trade report to the System;
(4) in transactions between a member and a non-member or customer, the member shall be required to submit a trade report to the System;
(5) in transactions conducted through a Reporting ECN that are reported to the System, the Reporting ECN shall ensure that transactions are reported in accordance with one of the following methods:
(A) the Reporting ECN shall submit the trade reports to the System and identify itself as the Reporting Party;
(B) the Reporting ECN shall submit the trade reports to the System on behalf of the Reporting Party and identify the Reporting Party in accordance with the rules for determining Reporting Parties reflected in paragraphs (1), (2), (3), and (4) above; or
(C) the Reporting ECN shall require one of the parties, determined in accordance with the rules for determining Reporting Parties reflected in paragraphs (1), (2), (3), and (4) above, to submit the trade reports to the System.
When a Reporting ECN reports transactions in accordance with subparagraph (A), the Reporting ECN shall be responsible for ensuring that the trade reports are accurate and contain all information required by subsection (d) of this rule for both the Reporting ECN and the identified non-reporting party.
When a Reporting ECN reports transactions in accordance with subparagraph (B), both the Reporting ECN and the party identified as the Reporting Party shall be responsible for ensuring that the trade reports are accurate and contain all information required by subsection (d) of this rule for both the Reporting ECN and the identified Reporting Party.
When a Reporting ECN requires reporting of transactions in accordance with subparagraph (C), the Reporting Party shall be responsible for ensuring the accuracy and completeness of the trade report.
A Reporting ECN shall provide written notice to NASD of the method of trade reporting used by the Reporting ECN for each of its subscribers and may change the method of trade reporting used for a subscriber by providing advance written notice of the change to NASD;
(6) in transactions conducted through two Reporting ECNs or a Reporting ECN and an ECN that is not a Reporting ECN, a Reporting ECN shall be responsible for complying with the requirements of paragraph (5) above for reporting a transaction executed through its facilities, and an ECN that routed an order to it for execution shall be deemed to be a Reporting Order Entry Firm and a member for purposes of the rules for determining Reporting Parties reflected in paragraphs (1), (3), and (4) above; and
(7) in transactions conducted through a Reporting ECN in which neither of the parties is a member, the Reporting ECN shall report the transaction in accordance with the requirements of subparagraph (5)(A) above.
(d) Trade Information To Be Input
Each report to the System shall contain the following information:
(1) Security Identification Symbol of the eligible security (SECID);
(2) Number of shares or bonds;
(3) Unit price, excluding commissions, mark-ups or mark-downs;
(4) The time of execution expressed in hours, minutes and seconds based on Eastern Time in military format, unless another provision of NASD's rules requires that a different time be included on the report;
(5) A symbol indicating whether the party submitting the trade report represents the Market Maker side or the Order Entry side;
(6) A symbol indicating whether the transaction is a buy, sell, sell short, or cross;
(7) A symbol indicating whether the trade is as principal, riskless principal, or agent;
(8) Reporting side Clearing Broker (if other than normal Clearing Broker);
(9) Reporting side executing broker in the case of a give up agreement, as defined in Rule 4632E(g);
(10) Contra side executing broker;
(11) Contra side Introducing Broker in the case of a give up agreement, as defined in Rule 4632E(g);
(12) Contra side Clearing Broker (if other than normal Clearing Broker); and
(13) For any transaction in an order for which a member has recording and reporting obligations under Rules 6954 and 6955, the trade report must include an order identifier, meeting such parameters as may be prescribed by NASD, assigned to the order that uniquely identifies the order for the date it was received (see Rule 6954(b)(1)).
(e) Reporting Cancelled Trades
(1) Obligation and Party Responsible for Reporting Cancelled Trades
With the exception of trades cancelled by NASD staff in accordance with Rule 11890, members shall report to the System the cancellation of any trade previously submitted to the System. The member responsible under NASD Rules for submitting the original trade report shall submit the cancellation report in accordance with the requirements set forth in paragraph (e)(2).
(2) Deadlines for Reporting Cancelled Trades
Members shall comply with deadlines set forth in Rule 4632E for reporting cancelled trades.
(f) Reporting Certain Transactions for Purposes of Regulatory Transaction Fee Assessment
Reports submitted to the System for the following types of transactions that are assessed a regulatory transaction fee in accordance with Section 3 of Schedule A to the NASD By-Laws must comply with the requirements set forth below. Transactions must be submitted to the System by 8:00 p.m. Eastern Time (or the end of the System reporting session that is in effect at that time).
(1) Away From the Market Sales
Reports of transactions where the buyer and seller have agreed to trade at a price substantially unrelated to the current market for the security, and consideration is given, shall include a modifier of .RA to designate the transaction as submitted for purposes of the regulatory transaction fee under Section 3 of Schedule A to the NASD By-Laws. Transactions may be entered as clearing or non-clearing.
(2) Exercises of OTC Options
Reports of transactions effected pursuant to the exercise of an OTC option shall include a modifier of .RX to designate the transaction as submitted for purposes of the regulatory transaction fee under Section 3 of Schedule A to the NASD By-Laws. Transactions may be entered as clearing or non-clearing.
(g) Prohibition on Aggregation of Transaction Reports
Individual executions of orders in a security at the same price may not be aggregated for System reporting purposes.
(h) Members shall not submit to the System any report (including but not limited to reports of step-outs and reversals) associated with a previously executed trade that was not reported to the System, unless such report is submitted, pursuant to Rule 4632E(d), to reflect the offsetting riskless portion of a riskless principal transaction.
Amended by SR-FINRA-2007-017 eff. March 3, 2008.
Amended by SR-FINRA-2008-002 eff. Jan. 28, 2008.
Amended by SR-NASD-2007-040 eff. Nov. 5, 2007.
Amended by SR-FINRA-2007-015 eff. Sep. 19, 2007.
Amended by SR-NASD-2007-037 eff. July 16, 2007.
Amended by SR-NASD-2007-047 eff. July 6, 2007.
Adopted by SR-NASD-2007-011 eff. April 18, 2007.

Selected Notices: 07-31, 07-33, 07-38, 07-63.

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