FINRA Proposes Offering "End-of-Day TRACE" Report

FINRA proposed amending FINRA Rule 7730 ("Trade Reporting and Compliance Engine") ("TRACE") to begin offering an "End-of-Day TRACE Transaction File," which would allow market participants to receive all transaction information at the end of each trading day. The same data is now available in real time, but in order to view it currently, firms must connect either to NASDAQ's Multicast feed directly through an extranet connection or through a third-party vendor. According to FINRA, the proposed rule change is intended to provide an easier way to view transaction data at the end of each day.

FINRA intends to charge a fee (which is not yet set) to firms for access to the End-of-Day TRACE Transaction File.