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InterACT

Supervise trade activity reported to the FINRA Trade Reporting Facility (TRF) operated in partnership with FINRA/Nasdaq TRF.

 

InterACT Overview

Nasdaq InterACT is a real-time compliance tool that assists firms with supervision of trade activity reported to the FINRA Trade Reporting Facility (TRF) operated in partnership with FINRA/Nasdaq TRF. InterACT summarizes and consolidates data for your over the counter trade reports, helping you avoid regulatory fines.

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InterACT is an add-on to the Nasdaq Workstation and Nasdaq ACT Workstation.

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:
    • Declines
    • Cancels
    • No/Was
    • One-Sided Breaks
Trade Scans
  • Run trade scans to access full trade detail and to take action quickly

Rule Summary

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.


Resources

Contact Information