How many decimal places should a member use when reporting the price on trade reports?
A101.2: Members should report as many decimal places as the FINRA Facility permits. Thus, for example, if a member executes a trade at 10.123456 and the FINRA Facility permits entries up to six decimal places, then the member should report 10.123456. It should be noted, however, that if a trade is executed at 10.12, the member can report 10.12 and does not need to report 10.120000. Q101.3: What is the “explicit fee” functionality provided by the FINRA/NASDAQ TRF and ORF? A101.3: Pursuant to Rule 7230A(h) and, effective June 1, 2010, Rule 7330(i), members may agree in advance to transfer a transaction fee charged by one member to another member on an OTC transaction reported to the FINRA/NASDAQ TRF or the ORF, respectively. The transaction fee is transferred through the submission of a clearing report, which must provide, in addition to all other information required under the trade reporting rules, a total per share or contract price amount, inclusive of the transaction fee. Thus, memb
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