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Wrong, its not difficult, FINRA explains it well,

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BigBake1 Member Level  Monday, 07/26/21 10:28:52 PM
Re: TheFutureForsure post# 189915
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Wrong, its not difficult, FINRA explains it well, tape reported and non tape reported to avoid duplication of volume.

Quote:
Q302.2: How are OTC riskless principal transactions reported to FINRA?

A302.2: Members can report OTC riskless principal transactions by submitting a single tape report to a FINRA Facility in the same manner as an agency transaction, marked with a "riskless principal" capacity indicator, excluding the mark-up or mark-down, commission-equivalent or other fee. Alternatively, members can report an OTC riskless principal transaction by submitting two (or more, as necessary) reports: (1) a tape report to reflect the initial leg of the transaction with a capacity of principal; and (2) a non-tape (regulatory or clearing-only) report to reflect the offsetting "riskless" leg of the transaction with a capacity of riskless principal. See Rules 6282(d)(3)(B), 6380A(d)(3)(B), 6380B(d)(3)(B) and 6622(d)(3)(B); NTMs 99-65 (August 1999), 99-66 (August 1999) and 00-79 (November 2000). Where the tape report for an OTC riskless principal trade incorrectly reflects a capacity of "principal," the non-tape report is required under the trade reporting rules.




https://www.finra.org/filing-reporting/market-transparency-reporting/trade-reporting-faq#302

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