Series 24: Trade Reporting And Dissemination

Trade Reporting and Dissemination

Once a trade is executed, the Market Center reports it to NASDAQ’s Automated Confirmation Transaction System (ACT), which “locks in” the trade and sends its details to a clearing house for final settlement. Transactions must be settled (funds paid and securities delivered) by the second business day after the date of the contract, unless the parties to the contract expressly agree t