Exam Alert: FINRA amends TRACE reporting requirements, moves trade processing onto MPP

The SEC has approved amendments to FINRA’s reporting requirements for transactions in TRACE-eligible securities other than asset-backed securities. These amendments are associated with FINRA plans to move trade processing for TRACE-eligible securities that are not currently on the multi product platform (MPP) onto the MPP. Continue reading

The SEC has approved amendments to FINRA’s reporting requirements for transactions in TRACE-eligible securities other than asset-backed securities.  These amendments are associated with FINRA plans to move trade processing for TRACE-eligible securities that are not currently on the multi product platform (MPP) onto the MPP.  The affected securities include corporate bonds and agency debt securities.  The changes include:

-Firms can report the actual date of execution for transactions executed on non-business days.

-Firms must report the size of a transaction as the total par value or principal value traded.

-Firms must report the total dollar amount of the commission.

-Firms must report the date of settlement.

The amendments and the platform migration will take effect February 6, 2012.

 

Source: FINRA Regulatory Notice 11-53

 

This alert applies to the Series 7, Series 24, and Series 62.

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