The rules for Transaction Reporting vary depending on the reporting party. When a transaction is done between two parties, it is called an inter-dealer transaction. A third party, which is the merchant or the financial institution that performs the other party’s transaction, is referred to as the intermediary. The Transaction Reporting rules are applied in the case of all transactions between the parties, whether it is an inter-dealer transaction or an intermediary. If a third party does a transaction, it is called a non-transactional transaction. The rules of Transaction Reporting also apply to a transaction that involves an exchange of securities.
Transaction reporting is not only necessary for the enforcement of securities laws but also to ensure compliance with other rules. The reporting party also makes use of transaction reporting to keep track of its performance. For example, in a market involving the purchase and sale of securities, the transaction reports can include all the details regarding the transactions between the parties involved in the transaction.
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