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FINRA Provides Temporary Flexibility in Reporting Treasury Securities Executed on ATSs

FINRA issued a proposal to permit alternative trading systems ("ATSs") and broker-dealer subscribers to ATSs to report transactions in U.S. Treasuries executed on ATSs on a "partially disaggregated" basis until April 12, 2019. The proposal would permit firms to report some trades on an individual basis, and other trades on aggregated basis (i.e., with aggregate price and volume information across trades). After April 12, 2019, ATSs and their broker-dealer subscribers will be required to report U.S. Treasury transactions on a "fully-disaggregated" basis (i.e., to report each individual transaction separately).

FINRA filed the proposal for immediate effectiveness.

Primary Sources

  1. FINRA Rule Filing: Proposed Rule Change to Provide Additional Flexibility to Member Alternative Trading Systems and ATS Subscribers in Transitioning to Disaggregated Reporting for Certain Transactions in U.S. Treasury Securities (SR-2019-002)

Tags

Regulated Products
US Government Securities
Jurisdiction
US - Federal
Organization
FINRA / MSRB / SEC Exchanges / SIPC / Accountants
Sub-Author
FINRA