FINRA Expands Transparency Initiative Related to OTC Equity Trading Volume
The Financial Industry Regulatory Authority (FINRA) previously announced an expansion to its ongoing transparency initiative for the over-the-counter (OTC) equity market. This expansion entails FINRA publishing new data about OTC trading volume occurring outside of alternative trading systems (ATSs).
As of December 2, FINRA began publishing the following types of data: 1) monthly aggregate block-size trading data for OTC trades in National Market System (NMS) stocks executed outside an ATS, on a one-month delayed basis; and 2) aggregate non-ATS volume for each member firm (by eliminating the de minimis exception for member firms executing fewer than, on average, 200 non-ATS transactions per day during an applicable reporting period).
Additional details about the initiative are available in Regulatory Notice 19-29 and in a Technical Notice outlining the new data that will be published.
The press release announcing the expansion of the initiative is available here.
A copy of Regulatory Notice 19-29 is available here.
A copy of the Technical Notice is available here.