FINRA proposed amending FINRA Rule 7730 ("Trade Reporting and Compliance Engine") ("TRACE") in order to begin offering a new TRACE Security Activity Report that would provide aggregated security-specific statistics for applicable corporate and agency bonds ("bonds").
The report would provide the following information concerning each bond:
- basic bond details (e.g., the name of the issuer, and maturity and coupon dates);
- transaction totals;
- market concentration statistics; and
- more detailed par value volume information for certain securities that surpass the "dissemination cap," which is in place to address confidentiality concerns for bonds that are lightly transacted.
FINRA indicated that the effective date of the proposal will be no later than 365 days after its approval by the SEC.
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