FINRA Proposes Rule Requiring Members to Report Transactions in TRACE-Eligible Securities "as Soon as Practicable"

FINRA filed a proposed rule change with the SEC that would require members to report transactions in TRACE-Eligible Securities that are subject to dissemination "as soon as practicable."

The proposed rule change specifies that members are expected to report transactions in TRACE-Eligible Securities that are subject to dissemination "as soon as practicable," but no later than 15 minutes following the time of execution.

See: Text of Proposed Rule Change.