Proposed Fees for the Trade Reporting and Compliance Engine ("TRACE") for Corporate Bonds

NASD has filed with the SEC a proposed structure for fees to be charged in connection with the NASD’s creation of a corporate bond trade reporting and transaction dissemination facility. The Trade Reporting and Compliance Engine or "TRACE" replaces Nasdaq’s Fixed Income Pricing System (FIPS). The proposed rule change is an addition to the NASD’s Rule 6200 Series for TRACE.