FINRA Proposes Rule Change on the Dissemination of Certain Transaction Information

FINRA proposed rule amendments to allow the publication of aggregated transaction information on non-disseminated TRACE-Eligible Securities.

The proposed amendments to FINRA Rule 6750 (Dissemination of Transaction Information) provide supplementary material explaining that FINRA may "publish or distribute aggregated transaction information and statistics on TRACE-Eligible Securities that are not subject to dissemination . . . at no charge."

The proposed amendments would allow for FINRA to publish, for example, "aggregated transaction information and statistics on trades in CMBSs and CDOs, including data on aggregate daily volume, aggregate daily number of trades, and average price information, and such information may be grouped within customer buy, customer sell, dealer-to-dealer, year of issuance, investment rating, or other categories."

Any published information would not identify individual market participants or transactions. The proposed rule change would not be applicable to U.S. Treasury securities.

The effective date will be that of the SEC's approval.

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