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A transaction in a Nasdaq security executed after the regular market hours, specifically at 7:45 p.m., needs to be reported to the Trade Reporting Facility (TRF) according to specific rules governing trade reporting. The correct time for reporting such an after-hours transaction is immediately following execution, which is within seconds of the transaction's occurrence.

In this case, reporting the transaction at 7:45:10 p.m. aligns with the requirement that trades executed in extended hours must be reported as soon as reasonably possible and within the designated timeframe set by the reporting rules. The TRF rules allow for a tight window for after-hours transactions, emphasizing the need for timely reporting to ensure market transparency and accurate price discovery.

While other time options may seem plausible, they do not adhere to the requirement for immediate reporting following the trade execution. The time options offer alternatives that either fall outside of the permissible reporting window or delay the reporting beyond the expected normative period.