When must a trade in an NMS stock or an OTC Equity security that is executed outside normal market hours be reported?
A102.3: Trades in NMS stocks and OTC Equity Securities that are executed outside normal market hours (i.e., outside the hours of 9:30 a.m. and 4:00 p.m. Eastern Time) and during the hours the FINRA Facility to which the member is reporting is open must be reported within 30 seconds of execution. See Rules 6282(a), 6380A(a), 6380B(a) and 6622(a). Trades in NMS stocks and OTC Equity Securities executed during the hours the FINRA Facility to which the member is reporting is closed are not subject to 30-second reporting. Specifically, trades executed between midnight and 8:00 a.m. must be reported by 8:15 a.m. Eastern Time on trade date. Trades executed between the close of the Facility (6:30 p.m. for the ADF and 8:00 p.m. for the TRFs and the ORF) and midnight must be reported on an “as/of” basis by 8:15 a.m. Eastern Time the following business day. See Rules 6282(a), 6380A(a), 6380B(a) and 6622(a). See also the Reporting Requirements: OTC Equity Transactions Outside Normal Market Hours C
