Who reports trades executed through electronic trading systems that are themselves broker/dealers?
All FINRA members that are “parties to a transaction” have a trade reporting obligation under TRACE Rules. Where two FINRA members effect/execute a transaction through an electronic trading system that is registered as a broker/dealer, both members, as well as the electronic trading system would have a trade reporting obligation.
Related Questions
- What should I do to receive the reports provided for by the Rules of Trading of a MICEX Section in electronic form?
- Who reports trades executed through electronic trading systems that are themselves broker/dealers?
- What is the difference between electronic trading and trading with a broker over the phone?
