FINRA Rule 6730

The rule sets forth the requirements for reporting transactions in TRACE-eligible Securities, including the timeframe for reporting, the information to be reported, and the procedures for reporting.

The rule requires member firms to report transactions as soon as practicable, but no later than within 15 minutes of the time of execution, and to provide detailed information about the transaction, including the security, price, size, and counterparties.

The rule also provides exemptions and exceptions for certain types of transactions, such as transfers of securities for the sole purpose of creating or redeeming an instrument that proves  ownership of the underlying securities.