The Financial Industry Regulatory Authority (FINRA) has begun disseminating individual trades in active US Treasury securities at the end of the day, increasing the level of market transparency for these benchmark securities.
The information is available on the same day to FINRA members and other professionals who subscribe to the new data product. It is also publicly and freely available on FINRA’s website for personal, non-commercial use by non-professionals the following day. Beginning April 1, FINRA will also begin offering historical data with a six-month delay.
FINRA publishes information on individual transactions in Treasury securities that are nominal coupons outstanding (generally, the most recently auctioned Treasury security that is a note or bond that pays nominal fixed-rate coupons). The data includes the price and size of the transaction. the type of counterparty (dealer, customer, affiliate, or alternative trading system); a flag indicating whether the trade was executed on an ATS; and other trade modifiers and indicators.
The data does not include any identifying information about the participants in the transaction. In addition, the spread is subject to trade size caps, above which the actual trade size will only be included in the historical data.