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7610B. Securities Transaction Credit

FINRA members that trade securities listed on the NYSE ("Tape A"), Amex and regional exchanges ("Tape B"), or Nasdaq ("Tape C") in over-the-counter transactions reported to the FINRA/NYSE Trade Reporting Facility may receive from the FINRA/NYSE Trade Reporting Facility transaction credits based on the transactions attributed to them. A transaction is attributed to a member if the member is identified as the executing party in a trade report submitted to the FINRA/NYSE Trade Reporting Facility that the FINRA/NYSE Trade Reporting Facility submits to the Consolidated Tape Association or the Nasdaq Securities Information Processor. A FINRA member may earn credits from any of three pools maintained by the FINRA/NYSE Trade Reporting Facility, each of which represents the revenue paid by the Consolidated Tape Association or the Nasdaq Securities Information Processor with respect to the FINRA/NYSE Trade Reporting Facility for each of Tape A, Tape B, and Tape C transactions. A FINRA member may earn credits from the pools according to the pro rata share of revenue attributable to over-the-counter transactions reported to the FINRA/NYSE Trade Reporting Facility by the member in Tape A, Tape B, and Tape C for each calendar quarter. To the extent that Tape A, Tape B or Tape C revenue is subject to any adjustment, credits provided may be adjusted accordingly. The percentage of attributable revenue shared with a particular member will be determined as follows:
Tape A
Percentage Market Share Percent of attributable revenue shared
Greater than or equal to 2.0% 100%
Greater than or equal to 0.5% but less than 2.0% 95%
Greater than or equal to 0.1% but less than 0.5% 85%
Less than 0.1% 0%
Tape B
Percentage Market Share Percent of attributable revenue shared
Greater than or equal to 2.0% 100%
Greater than or equal to 0.5% but less than 2.0% 95%
Greater than or equal to 0.1% but less than 0.5% 85%
Less than 0.1% 0%
Tape C
Percentage Market Share Percent of attributable revenue shared
Greater than or equal to 2.0% 100%
Greater than or equal to 0.5% but less than 2.0% 95%
Greater than or equal to 0.1% but less than 0.5% 85%
Less than 0.1% 0%
For purposes of this Rule, "Market Share" means a percentage calculated by dividing the total number of shares represented by trades reported by a FINRA member to the FINRA/NYSE Trade Reporting Facility during a given calendar quarter by the total number of shares represented by all trades reported to the Consolidated Tape Association or the Nasdaq Securities Information Processor, as applicable, during that quarter. Market Share is calculated separately for each tape.
Amended by SR-FINRA-2016-037 eff. Oct. 1, 2016.
Amended by SR-FINRA-2012-032 eff. July 2, 2012.
Renumbered from Rule 7610C by SR-FINRA-2008-066 eff. Jan. 1, 2009.
Amended by SR-FINRA-2008-021 eff. Dec. 15, 2008.
Amended by SR-NASD-2007-031 eff. April 18, 2007.
Adopted by SR-NASD-2007-025 eff. April 18, 2007.

Selected Notice: 08-57.