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FINRA proposed amending Rule 7610A ("Securities Transaction
Credit") to modify the schedule of securities transaction
credits applicable to both the FINRA/Nasdaq Trade Reporting
Facility ("TRF") Carteret and the FINRA/Nasdaq Trade
Reporting Facility Chicago to be more competitive with the other
FINRA TRFs.
FINRA Rule 7610A enables FINRA members reporting
over-the-counter trades in NMS stocks to the FINRA/Nasdaq TRFs to
qualify for revenue-sharing payments, paid on a quarterly basis in
the form of transaction credits, based upon transactions
attributable to the FINRA/Nasdaq TRFs.
Comments on the proposed rule change must be submitted 21 days
after its publication in the Federal Register.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
