Series 14: 2.6.1. Reporting Canceled Trades

Taken from our Series 14 Online Guide

2.6.1. Reporting Canceled Trades

The member responsible for the original trade report is also responsible for reporting a canceled trade. In a transaction between a member and a non-member, the member is responsible for reporting the trade. In a transaction between two members, the executing party is responsible for reporting the trade. If both members could be considered executing, then the sell-side member reports unless both members agree otherwise, and the sell-side member documents the agreement.

The deadlines for reporting cancellations on the TRF and the ORF, when the cancellation happens on the same day the trade is executed, are as follows:

Executed

Canceled

Report

*The member is expected to use its best efforts to report by 8 p.m. (Eastern Time) the same day, but if it does not report by that time, then it must report by 8 p.m. (Eastern Time) the following business day.

9:30 a.m. – 4 p.m. (Eastern Time)

By 4 p.m. (Eastern Time)

Within 10 seconds of cancellation

9:30 a.m. – 4 p.m. (Eastern Time)

4 p.m. – 8 p.m. (Eastern Time)

Best efforts by 8 p.m. (Eastern Time) otherwise 8 p.m. (Eastern Time) next day*

9:30 a.m. – 4 p.m. (Eastern Time)

After 8 p.m. (Eastern Time)

By 8 p.m. (Eastern Time) next business day

Outside 9:30 a.m. – 4:00 p.m. (Eastern Time)
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