Exam Alert: FINRA modifies TRACE trade dissemination and reporting rules

Effective July 22, 2013, FINRA will alter its rules for reporting and disseminating certain trades in mortgage-backed securities and asset-backed securities. Continue reading

Effective July 22, 2013, FINRA will alter its rules for reporting and disseminating certain trades in mortgage-backed securities and asset-backed securities. The transactions must be reported within 120 minutes of execution during a pilot period that lasts until January 20, 2014 – after the pilot period ends, they must be reported within 60 minutes. A new dissemination method for pool transactions will include various pieces of information about the pool, such as the weighted average coupon.

Source: FINRA Regulatory Notice 12-56: SEC Approves Amendments to TRACE Rules and Dissemination Protocols to Disseminate Specified Pool Transactions and SBA-Backed ABS Transactions and to Reduce the Time to Report Such Transactions

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

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