Trades during trading hours must be reported immediately, but no later than how many minutes after completion?

Trades during trading hours must be reported immediately, but no later than how many minutes after completion?

• A. 1 minute
• B. 3 minutes
• C. 10 minutes
• D. 60 minutes

Answer: (B)

Trades during trading hours must be reported right away to ensure near real-time visibility of price formation and market activity. The maximum allowed window is three minutes after the trade is completed. This timeframe is short enough to keep the market informed and enable effective surveillance, while still being realistically achievable with market systems and processing. Reporting in one minute is very tight and often impractical; ten minutes would slow down the transparency of the market and could delay detection of anomalies; sixty minutes would be far too long and undermine timely oversight.

Trades during trading hours must be reported right away to ensure near real-time visibility of price formation and market activity. The maximum allowed window is three minutes after the trade is completed. This timeframe is short enough to keep the market informed and enable effective surveillance, while still being realistically achievable with market systems and processing. Reporting in one minute is very tight and often impractical; ten minutes would slow down the transparency of the market and could delay detection of anomalies; sixty minutes would be far too long and undermine timely oversight.