Reporting Options Transactions to the Exchange

What this video covers

• Which participant the exchange designates to report a transaction, why the seller usually submits it, and how the 90-second clock gets the trade to time and sales
• The difference between submitting a report within 90 seconds and reporting to the firm or clearing firm as promptly as possible
• Why both the buyer and seller must immediately create a transaction record, even when only one side submits the report
• The eight required record items: broker initial code, underlying, option contract, price, size, time, contra clearing firm, and contra broker
• How agency capacity, the exchange-designated time source, partial executions, and paper procedures during system outages affect reporting
• The difference between the 90-second public report and the 13-item daily clearing file, including the market-maker exception for the opening or closing indicator
• How off-exchange reporting, anonymous participant IDs, batch receipt timing, and the exchange trade-desk line reset affect the exam answer