Last-Sale Reporting
Categories: Accounting, Trading
Ninety seconds. It’s not a lot of time, but it’s how much time brokers and dealers have to report their trades to NASDAQ.
This is called “last-sale reporting,” and it’s more of a rule than a guideline.
Within 90 seconds of every trade, brokers need to send an electronic alert to NASDAQ letting them know what the trade was, how many shares were involved, and the share price. Why? Because the SEC is all about transparent, real-time trade info, and getting data about trades out in front of the public within 90 seconds fulfills that real-time requirement.