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NASDAQ OMX To Improve Daily Share Volume Stats For ATS Or Dark Pools

Allows the firms to separately report alternative trading system or dark pool trading activity

The NASDAQ OMX Group plans to make changes to its automated confirmation transaction (ACT) trade entry for the FINRA/NASDAQ trade reporting facility (TRF). The facility is an automated trade reporting and reconciliation service operated on the ACT technology platform. It is expected to allow firms to separately report alternative trading system (ATS) or ‘dark pool’ trading activity.

The group has said that the activity will be posted before the end of day on the trading website and the new functionality will be effective in mid-November 2009. The group has added that most broker dealers trading NMS stocks are already connected to NASDAQ’s ACT system. Currently, NASDAQ offers daily share volume publicly on the NASDAQ OMX Trader website. These market share statistics are displayed by a market participant identifier (MPID) for broker dealers who have chosen to participate.

The TRF electronically facilitates the post-execution steps of price and volume reporting, comparison and clearing of trades for NASDAQ-listed securities as well as for transactions in NYSE- and other US regional exchange-listed securities that occur off the floor. The TRF handles transactions negotiated broker-to-broker.