InterACTSupervise trade activity reported to the FINRA/Nasdaq Trade Reporting Facility
Nasdaq InterACT is a real-time compliance tool that assists firms with supervision of trade activity reported to the FINRA/Nasdaq Trade Reporting Facility (FINRA/Nasdaq TRFTM). InterACT summarizes and consolidates data for your over the counter trade reports, helping you avoid regulatory fines.
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Features and Functionality
InterACT Pop-Up Alert:
The pop-up alerts you of any trades in the category of "As Contra Party (not yet matched) - Trade Date Only," even when the InterACT screen is minimized in the browser window.
- Receive an alert every nine minutes if there are trades that require your attention
- Click on the pop-up to go directly to the ACT scan* to take action on trades
*Firms will continue to be charged standard fees for Trade Scans generated by InterACT.
Compliance Tool Features:
InterACT allows compliance officers, traders and back office analysts to keep track of their compliance, while helping to monitor for the following violations:
- 10 second trade reporting stat available now
- 20 minute failed to compare
- Reg NMS Trade-Throughs Alerts
Real-Time Intraday Dashboard:Real-Time Trade Stats:
- Monitor unmatched trades
- Late trades
- Number of potential Reg NMS trade-throughs
- Other stats including:
- One-Sided Breaks
- Run trade scans to access full trade detail and to take action quickly
Historical FTP Trade Detail Reports:
- Using our Report Center service, users can opt to receive trade detail for InterACT in a daily report.
- Download/ Export Capability- Download to excel for record keeping purposes.
Participants that are alleged on match-compare trades (i.e. not locked-in trades) must accept or decline trades within 20 minutes after execution, according to FINRA rules and requirements.
For information on FINRA's 20-minute rule, view the FINRA Rule 7330 page.