FINRA and ISG Extend Effective Date for Certain Electronic Blue Sheet Data Elements
FINRA and ISG Extend Effective Date for Certain Electronic Blue Sheet Data Elements
FINRA and ISG Delay Effective Date for Enhanced Electronic Blue Sheet Submissions
Obligation to Report Cancellations of OTC Trades in Equity Securities, Including Trades Declined by the Contra Party
These report cards will help firms track their compliance with key equity trading rules related to CAT, Best Execution Outside-of-the-Inside, Market Order Timeliness, Trade Reporting and Reg NMS trade throughs.
FINRA has 12 advisory committees that provide feedback on rule proposals, regulatory initiatives and industry issues. Approximately 100 industry members and 30 non-industry members serve on these committees. The advisory committees meet in-person or via teleconference typically between two and five times a year.
Summary
FINRA has adopted new Rule 6439 (Requirements for Member Inter-Dealer Quotation Systems),1 which implements additional requirements for firms that operate systems that regularly disseminate the quotations of identified broker-dealers in OTC Equity Securities (each an “inter-dealer quotation system” or “IDQS”).2 Rule 6439 will become effective on October 1, 2021, except for paragraph (d)(
