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.
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