FINRA announced that "firms that elect to submit clearing-eligible trades to the Alternative Display Facility using 'Trade Match' or 'Trade Acceptance' functionality must identify only a contra party that is another ADF participant with access to the ADF and the ability to view and take action with respect to the submission."
News & Insights
The SEC requested comments on a FINRA proposal to amend the Tick Size Pilot in order to modify the conditions to the block-size exceptions making use of Intermarket Sweep Orders and Trade-at Intermarket Sweep Orders for the test group of pilot securities subject to the "Trade-at" requirement.
The SEC extended the 45-day review period for a FINRA proposal requiring members to disclose markups on retail customer confirmations of certain transactions in fixed-income securities. The SEC notice of designation for an extended review period was published in the Federal Register.
FINRA announced that it is publishing monthly information on block-sized trades occurring on alternative trading systems ("ATS").
The SEC, the MSRB and FINRA announced that open registration for the Compliance Outreach Program for Municipal Advisors will be held on November 10, 2016. Registration will be streamed via a live webcast available on the MSRB website.