FINRA Proposes Changes To Modify Trade Reporting Fees For FINRA/NYSE Trade Reporting Facility

FINRA filed for immediate effectiveness a proposed update to the trade reporting fees for broker-dealers that use the FINRA/NYSE Trade Reporting Facility (the "FINRA/NYSE TRF") under FINRA Rule 7620B ("FINRA/NYSE Trade Reporting Facility Reporting Fees").

The proposal would:

• increase the monthly fees for use of the FINRA/NYSE TRF for all non-retail participants to match those of all other participants; and
• subject participants to a monthly fee that would be based on whether or not they submitted trade reports to the FINRA/NYSE TRF (and the number of trades reported).

Under the current fee structure, participants are not required to pay a fee if they do not report any trades for a given month; under the new proposal, however, they would pay a fixed fee for that month.

FINRA established an operative date of April 1, 2022.

Primary Sources

1. FINRA-Proposed Rule Change to Modify the Trade Reporting Fees Applicable to Participants That Use the FINRA/NYSE Trade Reporting Facility

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