FINRA Proposal for Enhancements to TRACE Reporting for Treasuries

On December 23, 2020, FINRA issued a request for comment on Enhancements to TRACE Reporting for U.S. Treasury Securities. The proposed changes could require significant changes to trade execution and reporting systems for U.S. Treasuries as well as trading and reporting workflow changes. On January 12 and 19 FIF held calls with the FIF TRACE Working Group to discuss the rule proposal in anticipation of submitting a comment letter. The next Working Group call is scheduled for January 26 to review a first draft of the comment letter.