Federal Register #SR-FINRA-2026-015

SEC Notice of Proposed Rule Change to Extend FINRA Trade Reporting Facilities Operating Hours

This notice outlines a proposed regulatory change by the Securities and Exchange Commission (SEC) regarding the Financial Industry Regulatory Authority (FINRA): - The proposal extends the operating hours of FINRA Trade Reporting Facilities (TRFs) to 23 hours per day, five days a week - New hours: 9:00 p.m. Eastern Time on Sundays to 8:00 p.m. Eastern Time on Fridays - One-hour pause each evening, Monday through Thursday - The change aligns TRF hours with Securities Information Processors (SIPs) to enable real-time reporting and public dissemination of over-the-counter (OTC) trades in National Market System (NMS) stocks during extended hours - FINRA members must report transactions within specified timeframes during the new operating hours - Technical specifications for reporting will be updated prior to implementation - No OEMs, vendors, or procurement of products/services are involved; this is a regulatory update affecting reporting practices

Description

This notice announces a proposed rule change by the Financial Industry Regulatory Authority (FINRA) to amend the FINRA Rule 6300 Series concerning trade reporting facilities. The amendment extends the operating hours of the FINRA Trade Reporting Facilities (TRFs) to 23 hours per day, five days a week, from 9:00 p.m. Eastern Time on Sundays to 8:00 p.m. Eastern Time on Fridays, with a one-hour pause each evening Monday through Thursday. The rule change includes updates to reporting timeframes and definitions to align with the extended hours and the Securities Information Processors' operating hours. Members are required to report transactions within specified timeframes during the new operating hours, and technical specifications will be updated accordingly.

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