Reminder: Testing ORF and ADF Changes for Trade Reporting and T+2 Settlement
In accordance with the industry-led initiative to shorten the settlement cycle from three business days (T+3) to two business days (T+2), FINRA continues to make testing available in the NASDAQ Testing Facility (NTF) for associated changes to equity trade reporting. The amended rule is designed to enhance efficiency, reduce risk, and ensure a coordinated and expeditious transition by market participants to a shortened standard settlement cycle. Please refer to Regulatory Notice 16-09 and SR-FINRA-2016-047 for more information on the changes to trade reporting related to the shortened settlement cycle. Read More…