FINRA Pursues TRACE Data Expansion
FINRA has proposed to expand the trade data from TRACE to include details of whether a trade is an inter-dealer transaction or a trade between a dealer and a buy-side client, and to indicate whether the dealer is the buyer or seller in the transaction.
According to FINRA's rule filing that proposes the change, the regulator believes this data will allow investors to distinguish which transactions include a mark-up or a commission, which would enable them to request better prices, and would help
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