FINRA Requests Comment on Proposal to Require ATSs to Submit Quotation Information Relating to Fixed Income Securities (FINRA Reg. Notice 15-03)

FINRA issued a regulatory notice requesting comments on a proposal to require alternative trading systems ("ATSs") to submit fixed income quotation information relating to corporate and agency debt securities.

The specific quotation information that an ATS would be required to report to FINRA on a weekly basis would include:

• the identity of the party submitting the quote and the party’s capacity (i.e., agent or principal);
• the CUSIP or FINRA symbol of the quoted security;
• the date, time, and duration (if applicable) of the quote;
• the actual or minimum size associated with the quote; the price, yield, or spread to benchmark (including information on the relevant benchmark) of the quote as it was submitted by the party to the ATS;
• the quote as displayed to the ATS subscribers, whether the quote was "subject" or firm;
• the side of the quotation (buy or sell); and
• whether the quote was modified or cancelled, and if so, the date and time of the modification or cancellation.

Comments on the proposal must be submitted by April 7, 2015.

See: FINRA Regulatory Notice 15-03; FINRA Notice Announcement.