FINRA Announces Effective Date of Modified Trade Reporting Regime for Agency Debt Securities

FINRA announced the effective date of amendments to modify the dissemination protocols for agency debt securities. The amendments will apply a $5 million dissemination cap for all agency debt securities (i.e., replacing the current $1 million dissemination cap for non-investment grade debt). The rule changes were approved by the SEC on October 5, 2018, and will go into effect on November 19, 2018.

According to FINRA, the proposal - which eliminates differential treatment based on the ratings assigned to securities - will simplify trade reporting and improve price transparency in these securities.