Self-Regulatory Organizations; Financial Industry Regulatory Authority, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend FINRA Rules 6380A and 6380B (Transaction Reporting) To Provide a Limited, Temporary Exception From Reporting Specified Overnight Transactions Prior to 8:00 a.m. Eastern Time

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Notice

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(1) executed between 8:00 p.m. and 4:00 a.m., and (2) executed between 4:00 a.m. and 8:00 a.m. For transactions executed between 8:00 p.m. and 4:00 a.m., without relief, firms would be required to report these trades by 4:15 a.m., and for transactions executed between 4:00 a.m. and 8:00 a.m., without relief, firms would be required to report these trades in real time. Challenges to timely reporting exist with regard to two types of overnight transactions. First, firms have raised concerns regarding the feasibility of reporting overnight "batch" transactions that are based on the prior day's closing price.\13\ Second, firms have raised concerns regarding the feasibility of reporting trades in exchange- traded funds ("ETFs") based on the ETF's net asset value ("NAV" and such trades "ETF NAV Trades") in cases where the NAV is published after the TRFs close the previous business day.\14\

Document #

2026-04342

Citation

91 FR 10835

Publication Date

Mar 5, 2026

Federal Register Pages

Vol. 91, pp. 10835–10838

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362

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