Extension of TRF Operating Hours

In alignment with the proposed CTA and UTP Plan amendments to extend the operating hours of the Securities Information Processors, FINRA's Trade Reporting Facilities¹ (TRFs) will be extending their operating hours starting December 6th, 2026².

Currently, FINRA's TRFs operate from 4 a.m. Eastern Time (ET) to 8 p.m. Eastern Time (ET), Monday through Friday, excluding holidays. Beginning December 6th, 2026, FINRA's TRFs will operate from 9 p.m. ET Sunday through 8 p.m. ET Friday, with a one hour technical pause between 8 p.m. ET to 9 p.m. ET, Monday through Thursday, excluding holidays.

FINRA intends to amend its TRF reporting rules to reflect the extended TRF operating hours as described above. In addition to the TRF rule amendments, FINRA will also be publishing a series of Notices to inform its membership of the following in connection with the new TRF operating hours:

• FINRA/Exchange Technical Specification updates
• FINRA/Exchange Test Facility availability
• CTA/UTP Testing Availability/Schedules
• Updates to FINRA's Trade Reporting Frequently Asked Questions (FAQs)

Firms may sign up for FINRA Facilities-related notifications via the FINRA Email Subscription Service page by accessing the "Equities" subscription list under the "Market Transparency" section.

If you have any questions, please contact .

¹ FINRA's Trade Reporting Facilities are the FINRA/NYSE TRF, the FINRA/Nasdaq TRF Carteret and the FINRA/Nasdaq TRF Chicago. FINRA's Alternative Display Facility (ADF), which is also a trade reporting facility for the purpose of reporting Over-The-Counter (OTC) trades in NMS stocks, will not be adjusting its operating hours at this time.

² The Operating Committees of the SIP Plans have announced that they expect implementation of the SIP Plan amendments to extend SIP operating hours will occur on December 6, 2026.