16 Jul 2025
⏰FINRA Proposes Rule Change to Extend Trade Reporting Hours
Self-Regulatory Organizations; Financial Industry Regulatory Authority, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend FINRA Rules 6380A and 6380B (Transaction Reporting) To Extend the Trade Reporting Facilities Operating Hours
Summary
The Financial Industry Regulatory Authority (FINRA) proposes to amend its rules to extend the operating hours of its Trade Reporting Facilities from 8 a.m. to 4 a.m. Eastern Time. This change aims to facilitate real-time reporting and public dissemination of OTC trades in National Market System stocks executed during early morning hours, enhancing market transparency.
Agencies
- Securities and Exchange Commission
Business Impact
$$$ - High
The proposal to extend the Trade Reporting Facilities' operating hours impacts compliance and regulatory requirements for businesses reporting OTC trades in NMS stocks. Firms must adapt their reporting systems and processes, affecting operational efficiency and timeliness of trade reporting.