Trading broker and clearing broker give up agreement


To view other versions open the versions tab on the right. Members shall comply with the Rule Series when reporting transactions to the System, including executions of less than one round lot if those executions are to be compared and locked-in. All trades that are reportable transactions will be processed pursuant to an effective transaction reporting plan.

Trades that are not already locked-in trades will be compared and locked-in through the System. Participants shall transmit trade reports to the System for Reportable System Transactions as soon as practicable but no later than 10 seconds after execution, or such other time period prescribed by rule, or shall accept or decline trades within twenty 20 minutes after execution, according to the requirements of paragraph c of this Rule.

Participants shall, subject to the input requirements below, either input trade reports or accept or decline a trade within the applicable time-frames as specified in paragraph b of this Rule. Trade reports shall be submitted by the member as required pursuant to Rule b.

The information listed below must be provided for each transaction that is reported to the System. Unless the contra side will have an opportunity to provide its own trade information, the Reporting Member is responsible for the complete and accurate submission of information for both sides of the trade. With the exception of trades cancelled by FINRA staff in accordance with the Rule Series, members shall report to the System the cancellation of any trade previously submitted to the System.

The member responsible under FINRA rules for submitting the original trade report shall submit the cancellation report in accordance with the requirements set forth in paragraph e 2.

Members shall comply with deadlines set forth in Rule for reporting cancelled trades. The following types of transactions that are assessed a regulatory transaction fee in accordance with Section 3 of Schedule A to the FINRA By-Laws shall be reported in the manner prescribed by FINRA to denote that they are submitted for regulatory purposes and not for dissemination.

Transactions must be submitted to the System by 6: Eastern Time or the end of the System reporting session that is in effect at that time. Transactions may be entered as clearing or non-clearing. Members must provide FINRA at least three business days advance written notice of their intent to use this exception, including the basis for their determination that the transfer meets the terms of the exception.

Members must report such transfers on the same day as the ultimate transfer of the positions on their books and records, unless later reporting is warranted under specific circumstances.

For any such report, members must retain and produce, upon request, documentation relating to the associated trade s. FINRA members may agree in advance to transfer a transaction fee charged by one member to another member on a transaction reported to the System through the submission of a clearing report to the System.

Such report, inclusive of the transaction fee, will be submitted to the National Securities Clearing Corporation for processing. To facilitate the transfer of the transaction fee, the report submitted to the System shall provide, in addition to all other information required to be submitted by any other rule, pricing information to indicate a total per share or contract price amount, inclusive of the transaction fee. Prior to submitting any such report, both members and their respective clearing firms, as applicable, must have executed an agreement, as specified by FINRA, permitting the facilitation of the transfer of the transaction fee through the System, as well as any other applicable agreement, such as a give up agreement pursuant to Rule hand submitted the executed agreement s to FINRA Market Operations.

Such agreement s are considered member records for purposes of Rule and must be made and preserved by both members in conformity with applicable FINRA rules. SELL shares to another member at 10 plus a transaction fee of. REPORT shares at 10 the per share price exclusive of the transaction fee to the System for publication and also report pricing information to indicate a