Trf trade modifiers

8 Mar 2019 Nasdaq will be changing its FINRA/Nasdaq TRF trade modifier logic to systematically enforce FINRA trade reporting requirements for non-tape  15 Nov 2019 Trade modifiers. Submitted by the participant firm. Valid values are: T = Executed outside normal market hours. Z = Executed during normal  Market Participants ACT-reported trades for the date requested. Trade reporting modifiers as originally entered by 2 = FINRA/NASDAQ TRF Chicago.

FINRA/NYSE TRF FIX Code 1 Does a trade with this modifier update Last Sale? Can a trade with this modifier be executed outside the LULD price band? Executed During Normal Market Hours and Trade Reported Late: Z: I: 10: No 2: No 3: Executed Outside Normal Market Hours: T: 5: 9: No: N/A (this modifier is only used when execution time occurs when LULD is not in effect) Trades that are reported to the ACT / TRF facility by market participants with a “.W” modifier for an average weighted price trade will not affect the last sale price. The ACT / TRF Trade Scan function will also allow the parties to a trade to break a trade, if both sides agree. The only trade report modifiers that should be included in non-tape reports are: (1) trade settlement type modifiers (in Trade Modifier Field 1); and (2) the modifiers used to designate that a trade is being reported for regulatory fee assessment purposes only (in Trade Modifier Field 4). The FINRA Trade Reporting Facility (TRF) operated in partnership with FINRA/Nasdaq TRF is an automated trade reporting and reconciliation service operated on the Nasdaq ACT technology platform. The Nasdaq TRF electronically facilitates trade reporting, trade comparison and clearing of trades for all U.S. equities The TRF handles transactions negotiated broker-to-broker, or internalized within a firm. • A Trade Modifier of PRP or Stop Stock is entered without a Mod 4 Time • A Mod 4 Time is entered on a trade report where the Trade Modifier is not a PRP or Stop Stock • A Mod 2 Time is entered on a Trade Report that is not flagged as an Outbound ISO in Trade Modifier Please reference the updated.

Securities markets rely on highly-structured trading procedures and well-defined institutional roles. Part I introduces Finra/Nasdaq TRF the size (number of shares) at the bid, the size of the offer, and various modifiers (condition codes), but 

1 Mar 2019 Specifically, the only modifiers that are allowed on non-tape reports are 1) trade settlement type modifiers in Trade Modifier 1 and 2) modifiers  Trades that are reported to the ACT / TRF facility by market participants with a “.W ” modifier for an average weighted price trade will not affect the last sale price. (5) Members also shall append the applicable trade report modifiers as of transaction reporting to the FINRA/NYSE TRF, into a single transaction report. ADF or any TRF, the commencement of the trading halt or closure will be effective designated with the unique trade report modifier, as specified by FINRA,  12 Jan 2007 the NASD/Nasdaq Trade Reporting Facility (“NASD/Nasdaq TRF”) T” trades] with the unique trade report modifier, as specified by NASD, to.

15 Aug 2018 last sale information for trades executed on the. Exchange. Modifiers, Cumulative Consolidated Each SRO, TRF, ATS, and broker-dealer.

8 Mar 2019 Nasdaq will be changing its FINRA/Nasdaq TRF trade modifier logic to systematically enforce FINRA trade reporting requirements for non-tape 

To qualify, a trade must satisfy both prongs of the exclusion. Trade Modifier 1 – Settlement. Sale Condition Description, FINRA/Nasdaq TRF CTCI Code1, FINRA/  

To qualify, a trade must satisfy both prongs of the exclusion. Trade Modifier 1 – Settlement. Sale Condition Description, FINRA/Nasdaq TRF CTCI Code1, FINRA/   8 Mar 2019 Nasdaq will be changing its FINRA/Nasdaq TRF trade modifier logic to systematically enforce FINRA trade reporting requirements for non-tape  15 Nov 2019 Trade modifiers. Submitted by the participant firm. Valid values are: T = Executed outside normal market hours. Z = Executed during normal  Market Participants ACT-reported trades for the date requested. Trade reporting modifiers as originally entered by 2 = FINRA/NASDAQ TRF Chicago. 1 Mar 2019 Specifically, the only modifiers that are allowed on non-tape reports are 1) trade settlement type modifiers in Trade Modifier 1 and 2) modifiers  Trades that are reported to the ACT / TRF facility by market participants with a “.W ” modifier for an average weighted price trade will not affect the last sale price.

FINRA/NYSE TRF FIX Code 1 Does a trade with this modifier update Last Sale? Can a trade with this modifier be executed outside the LULD price band? Executed During Normal Market Hours and Trade Reported Late: Z: I: 10: No 2: No 3: Executed Outside Normal Market Hours: T: 5: 9: No: N/A (this modifier is only used when execution time occurs when LULD is not in effect)

15 Nov 2019 Trade modifiers. Submitted by the participant firm. Valid values are: T = Executed outside normal market hours. Z = Executed during normal  Market Participants ACT-reported trades for the date requested. Trade reporting modifiers as originally entered by 2 = FINRA/NASDAQ TRF Chicago. 1 Mar 2019 Specifically, the only modifiers that are allowed on non-tape reports are 1) trade settlement type modifiers in Trade Modifier 1 and 2) modifiers  Trades that are reported to the ACT / TRF facility by market participants with a “.W ” modifier for an average weighted price trade will not affect the last sale price.

date [as “.T” trades] with the unique trade report modifier, as specified by NASD, to denote their execution outside normal market hours. Such [T]transactions not reported before 9:30 a.m. shall be reported after 4:00 p.m. and before 8:00 p.m. [as .T trades] with the appropriate trade report modifier as specified by NASD.