Hello,
I was reading this on the FINRA website:
"Firms should continue to submit the applicable trade modifier for QCTs in Field 2 and
also append the .W in Trade Modifier Field 4, unless another Field 4 trade modifier
applies, in accordance with the guidance in Trade Reporting Notice 8/19/10. "
"Specifically, firms are required to report QCTs to FINRA with the appropriate
trade modifier for QCTs in Trade Modifier Field 2 (Reason for SEC Rule 611
Exception or Exemption)4 and, in accordance with Trade Reporting Notice
8/19/10, the weighted average price/special pricing formula (.W) modifier
in Trade Modifier Field 4 (SRO Required Detail), unless another Field 4 trade
modifier, e.g., stop stock or prior reference price, applies.5"
I saw this in a trade feed:
“c”:[" ",“7”,“V”]
Please correct me if I am wrong…
Modifier 1 = Empty.
Modifier 2 = 7 (Qualified Contingent Trade)
Modifier 3 = V (Contingent Trade)
There is no modifier 4, but should be. Am I understanding this correctly?