Which statement about short code regime is correct?

The statement that must be reported by the end of the trading day is correct because the short code regime is designed to ensure transparency and accuracy in trading transactions. Under this regime, trades need to be reported within a specific timeframe to maintain market integrity and provide necessary data for regulatory oversight. This end-of-day reporting requirement ensures that all trading activities are documented promptly, allowing market participants to have a clear view of the trading volume and positions at the close of the trading day.

In contrast to this, other options regarding the short code regime reflect misunderstandings of its characteristics. The ability to change codes frequently or assigning a short code to multiple long codes does not align with its primary goal of ensuring clear and accountable trading practices. Similarly, stating that there are no reporting requirements contradicts the essence of the regime, which emphasizes real-time transparency and the necessity of accurate reporting.