National Stock Exchange today announced that it launched the NASD/NSX Trade Reporting Facility (TRF) on November 27, 2006. NSX is the first exchange to provide the securities industry with an alternative to the existing TRF.
The NASD/NSX TRF will facilitate OTC trade reporting for internally executed transactions in all NYSE, Nasdaq and Amex-listed stocks. It currently offers trade reporting in Nasdaq-listed stocks. The facility is operated by NSX and regulated by the NASD. The NASD/NSX TRF is part of NSX's completely new, state-of-the-art technology platform, which includes the recently launched NSX BLADE(SM).
"NSX was determined to bring a competitive TRF to market as soon as possible to provide a viable alternative for those doing over-the-counter trading in exchange-listed stocks," said NSX CEO Joseph Rizzello. "We are pleased to announce that trading on the NASD/NSX TRF began yesterday in Tape C stocks, and Tape A and B stocks will be added in the near future. The launch demonstrates NSX's ability to adapt quickly to changing market conditions and to respond with solutions that offer investors choices. The NASD/NSX TRF combines with NSX BLADE to form an unrivaled platform, built to accommodate the broadest range of users, including OTC Market Makers, ECNs, algorithmic traders and agency brokers."
NSX's new technology platform -- the NASD/NSX TRF and NSX BLADE -- was built from the ground up specifically to meet the speed, price and service needs in a post-Regulation NMS environment. NSX BLADE, introduced in October, has already attracted market participants, including two major ECNs -- BATS and Track ECN. NSX BLADE offers order delivery, strict price-time priority, unprecedented speed, and highly competitive exchange pricing due to NSX's unique operating leverage. Additional features of NSX BLADE include scalable capacity, a broad range of connectivity options, and anonymity during all stages of order execution.
NSX, the nation's first all-electronic stock exchange, is the low-cost provider of exchange services. Having replaced its physical trading floor with a completely automated market in 1980, NSX has been a model of exchange efficiency and a driving force for change in the world of securities exchanges. Founded in 1885, NSX continues to lead the way in exchange innovation.