Series 24: OTC Transactions Reporting Requirements

Taken from our Series 24 Online Guide

OTC Transactions Reporting Requirements

All OTC transactions in equity securities executed by a FINRA member must be reported using one of the facilities listed below (or the FINRA/NYSE Trade Reporting Facility for NYSE trades). Each of these facilities was created by FINRA and is operated by Nasdaq. They are connected to the Automated Confirmation Transaction Service (ACT) technology and are served by the ACT platform. The 30-second trade reporting rule applies to the FINRA/NYSE Trade Reporting Facility as well as the two facilities listed below:

• FINRA/Nasdaq Trade Reporting Facility (TRF) – reports OTC trades in NMS securities (Nasdaq, NYSE, and other exchange-listed securities). The

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