FINRA proposed delaying the implementation date of FINRA Rule 4554(b)(8). The rule requires an alternative trading system ("ATS") to report the sequence number assigned to an order event by the ATS's matching engine at the time of an order's receipt. FINRA anticipates that it will file a proposed rule change with the SEC in the near future. The rule change will extend the requirement to report a sequence number beyond receipt of the order to include reporting a sequence number on all order events. FINRA will announce the implementation dates simultaneously for FINRA Rule 4554(b)(8) and for the extension of the requirement to include all order events. FINRA asked the SEC to waive its 30-day operative date requirement in order to allow the rule change to become effective immediately.
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