ARTICLE
12 December 2019

FINRA Proposes Changes To Schedule Of Securities Transaction Credits For FINRA/Nasdaq TRFs

CW
Cadwalader, Wickersham & Taft LLP

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FINRA proposed amending Rule 7610A ("Securities Transaction Credit") to modify the schedule of securities transaction credits applicable
United States Finance and Banking

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.

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