On October 20, the Financial Industry Regulatory Authority (FINRA) proposed a rule change to make permanent an exemption from the Trade Reporting and Compliance Engine (TRACE) reporting requirements for TRACE-Eligible Securities transactions executed on a facility of the New York Stock Exchange (NYSE).
Currently, FINRA Rule 6730(e) offers a pilot program that exempts FINRA members from reporting transactions in TRACE-Eligible Securities to TRACE, provided such transactions are executed on a NYSE facility and reported to NYSE and disseminated publicly (subject to certain conditions). The pilot program is scheduled to expire on October 27, but FINRA’s proposed amendment would make the exemption permanent. FINRA has filed the proposed rule change for immediate effectiveness.
The text of the proposed rule change is available here.