FINRA to disclose data on mortgage-backed securities trading
July 22 (Reuters) - The Financial Industry Regulatory Authority (FINRA), Wall Street's industry funded watchdog, said it would start releasing trade-related information on some securitized debt to improve transparency.
FINRA said it would use the Trade Reporting and Compliance Engine (TRACE) to provide information on mortgage-backed securities issued by Fannie Mae, Freddie Mac and Ginnie Mae, as well as securities backed by loans guaranteed by the Small Business Administration.
These securities represent about 3,500 trades, totaling $18 billion in par value, on an average daily basis, FINRA said.
Retail investors will have free access to the data through FINRA's Market Data Center starting July 29.
FINRA also plans to provide trade data on other asset-backed securities such as those backed by auto loans, credit card receivables and student loans after approval from the Securities and Exchange Commission.