Effective April 27, 2015, FINRA will revise the definition of “asset-backed security” under its rules. The new definition will exclude mortgage-backed securities, certain SBA-backed securities, and collateralized debt, loan, and bond obligations. Dissemination of trades in asset-backed securities will be limited to this more narrow group of securities, but will include additional types of transactions. These transactions include Rule 144A transactions, list or fixed offering price transactions, and takedown transactions.
Asset-backed securities will be required to be reported no later than 45 minutes from the time of execution, with minor exceptions for transactions executed shortly before the TRACE system closes and when the TRACE system is closed.
This applies to the Series 7, Series 24, and Series 62.