How quickly must trades on exchanges and Nasdaq be reported after execution?

The requirement to report trades executed on exchanges and Nasdaq is set to enhance market transparency and ensure that all interested parties have access to timely trading information. Specifically, trades must be reported within 10 seconds after execution. This quick reporting helps in maintaining a fair and orderly market by allowing participants to react to trading activity in real-time.

If trade reporting were longer, market participants might miss critical information that could influence their trading decisions, thereby impacting market efficiency. The 10-second timeframe is established by regulatory authorities to ensure that the market operates in an orderly manner, fostering trust among all participants.