Do member firms have to report order information to FINRA on a real-time basis?
No, real-time reporting is not a requirement of OATS. Instead, order data can be collected during the day and transmitted to OATS in one or more files at a convenient time, during the day or after market close. However, reports for events that occur during a particular OATS Business Day must be reported by 5:00 a.m. Eastern Time the following calendar day or they are marked late by FINRA. The OATS Reporting Technical Specifications provide additional information regarding how and when data can be transmitted to OATS.
Related Questions
- If I am a FINRA member and typically place orders with other firms, must the execution time that I report be the same as the execution time reported by the contra side executing broker?
- Do member firms have to report order information to FINRA on a real-time basis?
- Are FINRA member firms required to file branch offices in Ohio?
