Chapter 12

Question 1

● Trade reporting for both NMS (TRF) and OTC (ORF) equities is required within ___________ by the ________

Answer 1

10 seconds by the executing firm

Question 2

An executing firm is permitted to report an equity trade outside of the 10-second requirement based on the

Answer 2

complex nature of the transaction

Question 3

The order-entry side of the trade must affirm (lock in) trades within ___________ for clearing purposes

Answer 3

20 minutes

Question 4

Clearly erroneous trades must be reported to FINRA within ________

Answer 4

30 minutes

Question 5

After-hours Nasdaq trades are reported within __________ up until ______

Answer 5

10 seconds up until 8:00pm

Question 6

After-hours Nasdaq trades that are executed after 8:00 pm must be reported on the _________ between ____________.

Answer 6

next business day between 8:00 a.m. and 8:15 a.m.

Question 7

After-hours over-the-counter (OTC) trades that are executed after 8:00 p.m. must be reported on the _________ between ________________.

Answer 7

next business day between 8:00 a.m. and 8:15 a.m

Question 8

Once a B/D reports a trade through TRACE, FINRA will ____________ disseminate the information

Answer 8

immediately

Question 9

TRACE reporting must be made by both parties within _____________

Answer 9

15 minutes

Question 10

A party to a transaction is required to report to Trace . This includes an introducing broker-dealer or executing broker-dealer, but does NOT include a __________, or a clearing firm if it _______________.

Answer 10

TRACE
buying or selling customer
did not execute the trade

Question 11

Bond trades that are executed prior to 8:00 am or after 6:15 pm must be reported within ____________________.

Answer 11

15 minutes of the next TRACE opening

Question 12

For U.S. Treasuries, TRACE publishes aggregate trading volume data for the prior _____ and the prior ______

Answer 12

day
month