Commentary

John Turney
Traders Magazine Online News

Foreign Exchange Infrastructure: Yesterday, Today and Tomorrow

In this exclusive to Traders Magazine, John Turney, Global Head of Outsourced FX at Northern Trust, discusses the evolution of the fx infrastructure and what is to come.

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June 30, 2002

NASD Looking for OATS

By Gregory Bresiger

The National Association of Securities Dealers said it wants comments on possible changes in the Order Audit Trail System (OATS).

Some of the changes under review by the regulator would require that members, "record and report for OATS purposes the route of a proprietary order if they comply with the SEC Limit Order Display Rule by routing the proprietary order in place of a customer order to another market, electronic communications network or market maker..."

Executions

Another possible change calls for "recording the execution time rather than the prior reference price time or allocation time in the OATS Execution Reports."

The NASD says the comment period on the OATS plan is scheduled to close on July 10.