Usage Reporting Policy

FINRA requires that all Vendors of TRACE market data submit usage reports on a monthly basis. These usage reports must list the total number of users or devices with the ability to access TRACE data in desktop display format and Snapshot Data recipients during the reporting period. Vendors must submit usage reports for BTDS and ATDS Real-time Professional users (as applicable).

 

Based on the usage reports, FINRA or the FINRA Administrator will generate an invoice by multiplying the monthly population for each TRACE user (BTDS and ATDS) and Snapshot Data (as applicable) service by the applicable fee. Unless FINRA has a valid re-sale certificate on file for the Vendor, the invoice will include state sales tax, where applicable. Payment of the invoice is due within 30 days of the date of the invoice. Interest at the rate of 1% per month on any outstanding balance shall be due from the date (30) days after the date of the invoice to the time that the amount(s) that are due have been received by FINRA. Monthly reports are due by the 15th day of month for the preceding month (i.e., May 15th is the due date for April usage report).

 

FINRA Vendors are required to submit usage reports to the following department:

 

FINRA - TRACE Data Services
One Liberty Plaza, 52nd Fl.
New York, NY 10006
Attn: Daria Gerin
Telephone: (888) 507-3665
Fax: (212) 858-4083

 

Late and Revised Reporting Policy

 

Vendor is limited to a sixty (60)- calendar day grace period in which to revise or correct its usage reporting to obtain retroactive credits. The grace period begins on the due date of the original report, but is extended to the next business day of the last day of the grace period coincides with a market holiday or a weekend day. FINRA will not provide Vendor with back credits for original or reviewed reporting received after the end of the grace period. Revised including could include, but is not limited to, reclassification of Clients, reporting of usage under alternative pricing structures and correction of errors by Vendor. This does not limit Vendor's liability to FINRA for underreporting of usage.