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Monday, April 3, 2017

Futures Regulatory Alert #2017 - 1
NASDAQ Futures, Inc. Amended Audit Trail Requirements – Effective July 3, 2017


  • Regulatory Impact

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NASDAQ Futures, Inc. (“NFX” or “Exchange”) has amended its Audit Trail Requirements (SR-NFX-2017-15). The date of implementation is July 3, 2017.

Pursuant to Section 5c(c)(1) of the Commodity Exchange Act, as amended (“Act”), and Sections 40.2 and 40.6 of the Commission’s regulations thereunder, NASDAQ Futures, Inc. has adopted amendments to audit trail guidance originally filed with the Commission as SR-NFX-2015-38.

Pursuant to Chapter V, Section 1, each Futures Participant shall maintain or cause to be maintained audit trail information for all Orders entered into the Trading System, including Order modifications and cancellations. This audit trail must contain, at a minimum, all Order and Quote entry, modification, cancellation and response receipt time(s) as well as Financial Information Exchange interface (FIX) tag information as applicable. Futures Participants are required to produce, upon request by Nasdaq Futures, Inc. or its Regulatory Services Provider, the audit trail for all Orders and Quotes submitted to NFX in a format prescribed by NFX.

The National Futures Association ("NFA") is the Regulatory Services Provider for NFX. Generally, Futures Participants will receive requests for audit trail information from the NFA.

Please refer to the Frequently Asked Questions document for Audit Trail requirements.

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