6220. Participation in TRACE
This rule is no longer applicable. NASD Rule 6220 has been superseded by FINRA Rule 6720. Please consult the appropriate FINRA Rule.
(a) Mandatory Member Participation
(1) Member participation in TRACE for trade reporting purposes is mandatory. Such mandatory participation obligates members to submit transaction reports in TRACE-eligible securities in conformity with the Rule 6200 Series.
(2) Participation in TRACE shall be conditioned upon the TRACE Participant's initial and continuing compliance with the following requirements:
(A) Execution of, and continuing compliance with, a TRACE Participant application agreement and all applicable rules and operating procedures of the Association and the Commission; and
(B) Maintenance of the physical security of the equipment located on the premises of the TRACE Participant to prevent unauthorized entry of information into TRACE.
(3) Each TRACE Participant shall be obligated to inform the Association of non-compliance with, or changes to, any of the participation requirements set forth above.
(b) Participant Obligations in TRACE
Upon execution and receipt by the Association of the TRACE Participant application agreement, a TRACE Participant may commence input of trade information in TRACE-eligible securities. TRACE Participants may access the service via an NASD-approved facility during the hours of operation.
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Amended by SR-NASD-2002-46 eff. July 1, 2002. Adopted by SR-NASD-99-65 eff. July 1, 2002. |