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7583. Penalties Incurred Pursuant to the National Market System Data Plans

(a) FINRA will pass through any penalties incurred under the National Market System data plans and allocate them accordingly to the ADF Trading Center that exceeds its projected message traffic. Each ADF Trading Center will be invoiced for any penalties that may occur.
(b) In assessing capacity penalties incurred under the National Market System Plans:
(1) FINRA will use the metrics of the applicable Securities Information Processor (SIP) to determine if a penalty has been incurred and will use its own metrics to allocate the penalty to the appropriate ADF Trading Centers (in the event that more than one ADF Trading Center has exceeded its projections);
(2) FINRA will notify each ADF Trading Center as soon as possible after it has exceeded its projections; and
(3) The ADF Trading Center will be invoiced for the penalties once FINRA has received its invoice from the SIP(s).
(c) For purposes of Rule 7583:
(1) the term "ADF Trading Center," shall have the same meaning as defined in Rule 6220; and
(2) the term "National Market System Data Plans" means the Consolidated Tape Association Plan, the Consolidated Quotation Plan, and the Unlisted Trading Privileges Plan.
Adopted by SR-FINRA-2013-054 eff. Feb. 19, 2014.

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