Securities Trader Representative (Series 57) Practice Exam 2025 - Free Series 57 Practice Questions and Study Guide

The commission charged is not reported to the Trade Reporting Facility (TRF) after a transaction. The TRF focuses on the execution details of the trade that are essential for regulatory and transparency purposes. While the commission is an important aspect of the trading process, it does not directly relate to the trade execution itself and is typically considered a business detail between the broker-dealer and the client.

In contrast, elements such as the Nasdaq symbol, the nature of the trade (whether it is a buy, sell, or cross), and the time of execution are all critical for reporting to ensure that there is a clear record of trading activities. These details contribute to maintaining market integrity and transparency, allowing regulators and market participants to accurately assess trading volume, liquidity, and market behavior.

When reporting trades, it's crucial to provide these execution-specific details while omitting commissions, which are treated as part of the broker-dealer's internal operations and client agreements rather than as part of the public trade record required by TRF.