FINRA Proposes Alternative Trading System Rule Changes

FINRA filed a series of proposed rule changes concerning trading information and reporting for alternative trading systems. These include (i) deleting FINRA Rule 4552 ("Alternative Trading Systems – Trading Information for Securities Executed within the Alternative Trading System") from the FINRA Rulebook, (ii) amending FINRA Rule 6110 ("Trading Otherwise than on an Exchange") and FINRA Rule 6610 ("General") to add provisions regarding FINRA's publication of alternative trading system ("ATS") volume and trade count information for equity securities, and (iii) amending FINRA Rules 618 ("Exemption from Trade Reporting Obligation for Certain Alternative Trading Systems") and FINRA Rule 6625 ("Exemption from Trade Reporting Obligation for Certain Alternative Trading Systems") to require each ATS that seeks an exemption from FINRA trade reporting rules to provide FINRA with a link to a publicly available website that displays its weekly equity volume information in a format similar to that which is used by FINRA.