The SEC approved a FINRA proposal to amend FINRA Rule 7730 to create a new Academic Corporate Bond TRACE Data product consisting of data on historic transactions in corporate bonds that would only be available to institutions of higher education ("TRACE Data"). The final amendments were published in the Federal Register.
FINRA will announce the effective date in a Regulatory Notice to be published no later than 90 days following approval, and the effective date will be no later than 270 days following publication of that Regulatory Notice. FINRA also plans to file a separate proposed rule change to address market data fees for the Academic Corporate Bond TRACE Data product before the effective date of the proposal.
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