FINRA Proposed Rule Change to Amend Rule 6700 Series and TRACE Dissemination Protocols

FINRA has filed with the SEC a proposed rule change to amend the FINRA Rule 6700 Series and the Trade Reporting and Compliance Engine ("TRACE") dissemination protocols to disseminate additional Asset-Backed Securities transactions and reduce the reporting periods for such securities.FINRA also proposed to rename the broad ground of securities, currently defined as "Asset-Backed Securities," as "Securitized Products," and to redefine the term "Asset-Backed Security" more narrowly to mean the specific securities that FINRA proposes to disseminate in the proposed rule change, along with proposing other definitional changes and technical amendments.

See: Text of the Proposed Rule Change.