FINRA TRACE ABS Pilot Program to Expire

November 08, 2011, 12:25 p.m. EST 1 Min Read

The Financial Industry Regulatory Authority's (FINRA) Trade Reporting and Compliance Engine (TRACE) pilot program that requires firms to report an ABS transaction no later than the business day after the date of execution will expire on Nov. 18.

After the program expires, most ABS transactions must be reported the day of execution during TRACE system hours.

For the complete copy of the FINRA notice, please click this link

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TRACE was developed by FINRA to facilitate the mandatory reporting of over-the-counter secondary market deals in eligible fixed-income securities.

All broker/dealers who are members of FINRA are obliged to report transactions in corporate bonds to TRACE under a Securities and Exchange Commission-approved set of rules.

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