Trf Agreement

Nasdaq Pre Trade Risk Management Order – RASH/FIX FINRA/Nasdaq TRF offers FINRA members another mechanism for notifying transactions that are not made on an exchange. It`s a FINRA facility, but Nasdaq is operating it for the end. TRF is commanded by Nasdaq`s ACT technology platform. For a complete description of the TRF and LLC, see NASD Filing 2005-087. The Nasdaq TRF electronically facilitates trade communication, trade comparison and trade clearing for all U.S. stocks The TRF conducts broker-to-broker or internalized trades within a company. . . .

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