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FINRA Trade Reporting Rule Proposed for NextShares

FINRA proposed Rule 6184 ("Transactions in Exchange-Traded Managed Fund Shares ('NextShares')"), relating to the reporting of over-the-counter transactions in exchange-traded managed fund shares that are listed on the Nasdaq.

FINRA filed with the SEC the proposed rule change for immediate effectiveness and FINRA announced that the operative date will be the date announced by Nasdaq for commencement of listing and trading of NextShares on the Nasdaq exchange under Nasdaq rules, which is currently anticipated to be about February 1, 2016.

Primary Sources

  1. Text of Proposed Rule Change
  2. Nasdaq NextShares Price Display Guidelines
  3. Nasdaq FAQ's on Exchange-Traded Mutual Funds

Tags

Body of Law
Securities Law
Jurisdiction
US - Federal
Organization
FINRA / MSRB / SEC Exchanges / SIPC / Accountants
Sub-Author
FINRA