Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

Are we required to synchronize the business clocks used to record the time of execution of securities reported to the Fixed Income Pricing SystemSM (FIPSSM)?

April 26, 2017Business clocks execution record reported securities synchronize time Used

0

10 Posted

Are we required to synchronize the business clocks used to record the time of execution of securities reported to the Fixed Income Pricing SystemSM (FIPSSM)?

1 Answer

0

10 Posted

Yes. FINRA Marketplace Rule 6240 requires members to record the time of execution for these transactions. You are required to synchronize the clocks that are used to record the date and time of any market events that you are obligated to record under FINRA rules or By-Laws.