FINRA Requests Comments on Reduction of Delay Period for Historic TRACE Data (FINRA Reg. Notice 15-24)

FINRA issued a regulatory notice requesting comments on a proposal to reduce the delay period for the historic TRACE data sets from 18 to 6 months.

FINRA Rule 7730 sets forth the TRACE data products offered by FINRA, including both real-time and aged historical data for most TRACE-eligible securities.

FINRA explained that the feedback it has received from firms suggests that 18 months is too long for historic TRACE data to remain useful, and that 6 months would "greatly improve" the data's utility. Additionally, FINRA stated, it believes that a shorter delay period would be sufficient to address information leakage concerns while improving the usefulness of the data. For that reason, FINRA proposed to amend Rule 7730 to shorten the delay period from 18 to 6 months.

Comments on the proposal are due by August 24, 2015.

See: FINRA Reg. Notice 15-24.