Are clearing related transactions such as Prime Broker, Step Outs, CNS “flips” etc, OATS reportable?
No. The definition of an order pursuant to NASD Rule 6951(j) would not include any back office or clearing related transactions that serve only to facilitate the clearance and settlement of a previously executed transaction. Therefore, these types of clearing-related transactions are not subject to the OATS Rules.
Related Questions
- Form 1099-B, Proceeds from Broker and Barter Exchange Transactions will be mailed to shareholders who have sold any of their fund shares during the year. (See the answer to the question: Why did I receive Form 1099-B, and where do I report the information?
- What are the times that must be reported to OATS when a correspondent receives an order and sends that order to a clearing firm?
- Are clearing related transactions such as Prime Broker, Step Outs, CNS "flips" etc, OATS reportable?
