The FINRA proposal updating the method for calculating trade reporting fees under FINRA Rule 7620B for broker-dealers using the FINRA/NYSE Trade Reporting Facility (the "FINRA/NYSE TRF") was published in the Federal Register.
As previously covered, the revised monthly fees for use of the FINRA/NYSE TRF will be based on the volume of OTC trades that a broker-dealer reports to the FINRA/NYSE TRF - not, as it is currently, on the broker-dealer's total OTC trading activity (that is not limited to OTC trades reported to the FINRA/NYSE TRF). In addition, the revised fee structure will increase the number of fee tiers from four to nine to reflect more closely a broker-dealer's use of the FINRA/NYSE TRF in any given month.
The proposed change became effective upon the filing of the amendment with the SEC. Comments may be submitted until October 30, 2019.
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