FINRA Proposes Rule to Centralize Publication of Reg NMS Quality Execution Reports
The proposed rule "will make this important order execution quality information more readily accessible for regulators, investors, academics, and others seeking to analyze and compare the data, particularly across firms, and would facilitate the ability of FINRA and the SEC to review the data for regulatory purposes."
FINRA
The proposed rule "will make this important order execution quality information more readily accessible for regulators, investors, academics, and others seeking to analyze and compare the data, particularly across firms, and would facilitate the ability of FINRA and the SEC to review the data for regulatory purposes."
FINRA
FINRA proposed a rule requiring market centers and larger broker-dealers that trade NMS stocks to submit their execution quality reports for central publication on the FINRA website.
Under proposed FINRA Rule 6152 ("Disclosure of Order Execution Information for NMS Stocks"), these entities are required to provide the reports in the same format and within the same timeframe required for public disclosure under SEC Regulation NMS Rule 605 ("Disclosure of order execution information").
Generally, Rule 605 requires these members to make available, to the public, monthly electronic execution reports that include uniform statistical measures of execution quality.