Reporting Cancelled Trades
The member responsible for the original trade report is also responsible for reporting a cancelled trade. In a transaction between a member and a non-member, the member is responsible for reporting the trade. In a transaction between two members, the executing party is responsible for reporting the trade. If both members could be considered executing, then the sell-side member reports unless both members agree otherwise and the sell-side member documents the agreement. The deadlines for reporting cancellations on the TRF and the ORF are as follows, when the cancellation happens on the same day that the trade is executed:
|
Executed |
Cancelled |
Report |
|
9:30 AM– 4 PM (Eastern Time) |
By 4 PM (Eastern Time) |
Within 10 seconds of cancellation |
|
9:30 AM– 4 PM (Eastern Time) |
4 PM– 8 PM (Eastern Time) |
Best efforts by 8 PM (Eastern Time) otherwise 8 PM (Eastern Time) next day* |
|
9:30 AM– 4 PM (Eastern Time) |
After 8 PM (Eastern Time) |
By 8 PM (Eastern Time) next business day |
|
Outside 9:30 AM– 4:00 PM (Eastern Time) |
By 8 PM (Eastern Time) |
By 8 PM (Eastern Time) same day |
|
Outside 9:30 AM– 4:00 PM (Eastern Time) |
After 8 PM (Eastern Time) |
By 8 PM (Eastern Time) next business day |
|
*The member is expected to use its best efforts to report by 8 PM (Eastern Time) the same day, but if it does not report by that time, then it must report by 8 PM (Eastern Time) the following | ||