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7581. Excess Capacity Usage Fees

(a) If an ADF Trading Center exceeds its Certified Peak Transaction Volume in one or more categories on one or more days in a given calendar month, the following excess capacity usage fees will apply:
Level Percentage Exceeded 1 – 2 days 3 – 5 days 6 – 10 days >10 days
1 N/A $250 $500 $750
2 25% – $250 $500 $750 $1,000
3 50% or more $500 $750 $1,000 $2,000
(b) All incidents for a calendar month will be assessed at the highest level rate that any incident in the month achieved and at the highest dollar amount based on the number of days.
(c) ADF Trading Centers shall submit separate volume projections for quote, media trade, total (i.e., media and non-media) trade, and order reporting activity broken out by National Market System ("NMS") data plan (i.e., separate projections are submitted for UTP Securities volume and for CTA Securities volume). For purposes of calculating the excess capacity usage fee, accruals of incidents apply separately for quote, trade, and order reporting activity and for each NMS data plan to determine whether multiple incidents result in Category 1, 2, or 3 level fees.
(d) For purposes of Rule 7581:
(1) the term "ADF Trading Center," shall have the same meaning as defined in Rule 6220;
(2) the term "CTA Securities" shall mean securities subject to the Consolidated Tape Association Plan;
(3) the term "UTP Securities" shall mean securities subject to the Unlisted Trading Privileges Plan; and
(4) the term "Certified Peak Transaction Volume" means an ADF Trading Center's projected transactions per day on a projected peak day in any of the following categories that an ADF Trading Center has been certified to submit to the ADF based on the results of the ADF Trading Center's quarterly certification volume test:
(A) quotation volume in CTA Securities;
(B) trade reporting volume in CTA Securities;
(C) order reporting volume in CTA Securities;
(D) quotation volume in UTP Securities;
(E) trade reporting volume in UTP Securities; and
(F) order reporting volume in UTP Securities.
Adopted by SR-FINRA-2013-054 eff. Feb. 19, 2014.

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