Series 7: FINRA/Nasdaq Trade Reporting Facility (TRF)

Taken from our Series 7 - General Securities Representative Exam

Definition of the term FINRA/Nasdaq Trade Reporting Facility (TRF)...

a facility that reports OTC trades in NMS securities (Nasdaq, NYSE, and other exchange-listed securities). The TRF provides automated trade reporting through the ACT technology platform. The TRF is a FINRA facility that receives instructions from Nasdaq. The TRF handles negotiated broker-to-broker transactions.

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