Securities Trader Representative (Series 57) Practice Exam

Disable ads (and more) with a membership for a one time $2.99 payment

Prepare for the Securities Trader Representative Exam. Enhance your knowledge with questions, detailed hints, and explanations. Pass your test with confidence!

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

Practice this question and more.

If an ADF market participant executes a transaction at 7:30 a.m., by what time must this transaction be reported?

8:00 a.m. on the day of the transaction
No later than 8:15 a.m. on the next business day
8:15 a.m. on the day of the transaction
6:30 p.m. on the day of the transaction

The correct answer is: 8:15 a.m. on the day of the transaction

When an ADF (Alternative Display Facility) market participant executes a transaction, there are specific reporting requirements that must be met to ensure timely and accurate dissemination of trade data. For transactions executed by ADF market participants, the reporting requirement stipulates that trades must be reported no later than 8:15 a.m. on the day of the transaction, even if the trade occurred earlier that day, such as at 7:30 a.m. This practice is in place to enhance transparency and maintain the efficiency of market operations by providing prompt access to trade information. Reporting by 8:15 a.m. on the same day ensures that all market participants have access to accurate trade data as soon as possible, which is essential for informed trading decisions and market integrity. The other options pertain to either reporting deadlines that are too late or not in alignment with the regulatory expectations for ADF participants, emphasizing the importance of understanding specific timing requirements in the trading environment.