FINRA proposed several amendments to remove overlapping requirements concerning (i) clock synchronization for recording market events; (ii) quote and order access; (iii) reporting requirements on certain information for orders in OTC equity securities and (iv) recording of quotation information on an inter-dealer quotation system.
News & Insights
A CFTC Order requiring the use of a designated unique product identifier and product classification system for swap recordkeeping and data reporting became effective on February 24, 2023.
The CFTC designated a unique product identifier and classification system required to be used in swap recordkeeping and reporting.
The Financial Information Forum urged FINRA to adopt a FINRA proposed version of TRACE reporting requirements for delayed Treasury spot trades.
In a supplemental Comment Letter in response to a FINRA proposed rulemaking on disclosure of order routing information, the Financial Information Forum offered recommendations on how execution venues can satisfy the reporting requirements for trade messages sent through, and quotes posted on, an inter-dealer quotation system for OTC Equity Securities.