A200.3: Yes. A QSR agreement is an agreement entered into by the National Securities Clearing Corporation (NSCC) and only specifies that one party may send a trade for clearing on behalf of the other party. It does not specify that a party may act, on behalf of another party, from the reports to comply with the rules of commercial declaration. Therefore, a waiver agreement as defined by FINRA (FINRA Transparency Services Uniform Reporting Agreement) is necessary to allow a member to communicate business information to a FINRA facility on behalf of another member, even if the parties have a QSR agreement in force. See NASD Member Alert: Notice to All TRF, ADF and Other NASD Facility Participants Regarding AGU and QSR Relationsships (25 January 2007). Members and, where applicable, their respective clearing houses must execute an agreement (PDF 25KB) in accordance with FINRA, which allows the transfer of transaction fees through the FINRA facility. Such an agreement must be executed and submitted to FINRA before members can pay a transaction fee. A204.6: The structure of the exporting Party`s negotiating report has no influence on the treatment of the fees referred to in Section 3. FINRA always charges the Section 3 fee to the clearing member, who has been identified as a seller in the band report, and as such, for settlement purposes, there is no difference between the member on the band report as the reporting party and the counter-party. A200.8: FINRA/NASDAQ TRF Carteret and FINRA/NASDAQ TRF Chicago are separate and different facilities. Accordingly, BD1 and BD2 must update their existing agreement if they intend to apply to FINRA/Nasdaq TRF Chicago. See technical communication of 31 July 2018 (participation in the new finra/Nasdaq Trade Reporting Facility.) A100.7: A non-tap report can be either a “regulatory” report or a “compensation” report, none of which is publicly released. A regulatory report, sometimes referred to as a “non-tape, non-clearing” report in commercial reporting rules, is submitted to FINRA exclusively to meet a regulatory requirement (for example.
B to report certain transactions subject to regulatory transaction fees or, where applicable, to report the “risk-free” portion without clearing of a risk-free master transaction). A clearing report, sometimes referred to as an “outright clearing report” in trade reporting rules, is used by members to clear and process transactions. The information reported in a clearing report is transmitted by FINRA to the National Securities Clearing Corporation (NSCC). Clearing reports may also be used to meet a Member`s obligation to provide, where appropriate, regulatory information to finRA. A312.3: Unless otherwise provided in FINRA rules (exceptions are explained in FAQ 312.4), members must use the proxy pricing format set by Nasdaq – and not the NAV-based final price – for all NextShares transaction reports transmitted to FINRA, including all band and non-band reports, intraday compensation reports, return reports. This is also necessary when the final NAV-based exchange price is known at the time of submission (e.g.B. trades reported on the basis of that date). See Rules 6184 c and 6184.01.
If a simple band report is submitted to a finra facility, the member who is required to be the subject of a declaration of identification of the commercial contract in the trade report is not subject to a waiver agreement. . . .