FINRA Announces New Requirements for Alternative Trading Systems: FINRA Regulatory Notice 14-07

FINRA issued a regulatory notice requiring specific transaction volume information to be reported by alternative trading systems ("ATSs"). The rule change requires an ATS to (i) report the weekly volume information and number of securities transactions within the ATS by security and (ii) acquire and use a single, unique market participant identifier ("MPID") when reporting information to FINRA. The reporting requirements will apply to all equities and debt securities subject to FINRA trade reporting requirements; i.e., equities and debt securities for which transactions are reported under the TRACE Rules.

FINRA stated that the ATS reporting requirements will be implemented beginning on May 12, 2014. FINRA also noted that the first ATS reports for the week of May 12 through May 16, 2014, will then be due by May 28, 2014, and that each ATS must begin reporting order and trade information to FINRA using a unique MPID by November 10, 2014.

See: FINRA Regulatory Notice 14-07.