FINRA proposed to amend the FINRA Rule 7600B Series to modify the subscriber fees and transaction credits applicable to members that use the FINRA/NYSE Trade Reporting Facility (the "FINRA/NYSE TRF").
The FINRA/NYSE TRF, which is operated by NYSE Market (DE), Inc., is one of three FINRA facilities that FINRA members can use to report over-the-counter ("OTC") trades in NMS stocks (i.e., generally listed equities). The proposal is intended to provide additional revenue to the FINRA/NYSE TRF in order to help offset increased regulatory costs as well as increased functionality and development costs associated with FINRA/NYSE TRF's growth in market share.
FINRA filed the proposed rule change for immediate effectiveness with an operative date of October 1, 2016.
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