On September 28, the Financial Industry Regulatory Authority proposed an amendment to modify fees and transaction credits applicable to FINRA members that use the FINRA/NYSE Trade Reporting Facilitiy (TRF). The FINRA/NYSE TRF is a facility members use to report over-the-counter trades in NMS stocks.
The FINRA Rule 7600B Series contains the required fees for members using the FINRA/NYSE TRF and outlines member eligibility for transaction credits. Currently, a member pays monthly fees based on the member’s average trades per day during a calendar month. The proposed rule contains a new fee schedule based on a member’s market share. The proposed rule also would amend the schedule for calculating transaction credits.
The FINRA release is available here.