Regulatory Alerts2024-03-22 | Trade Reporting Notice 3/22/24Added · Updated
Advance Notice: Upcoming Trade Reporting Enhancements for Fractional Share Transactions
FINRA updates its trade reporting guidance to require members to report fractional share quantities up to six decimal places in a new "Fractional Share Quantity" field, while continuing to report whole numbers in the existing "Quantity" field. This change affects FINRA member firms executing fractional share transactions in NMS stocks and OTC Equity Securities, with updated FAQs 101.14 and 101.15 and new FAQ 101.16 defining the specific reporting formats. The effective date for these requirements is no earlier than the first calendar quarter of 2025, with the specific date to be announced in a future notice.
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