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7001C. Securities Transaction Credit

This rule is no longer applicable effective Oct. 20, 2008.

(a) NASD 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 NASD/NSX Trade Reporting Facility may receive from the NASD/NSX 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 NASD/NSX Trade Reporting Facility that the NASD/NSX Trade Reporting Facility submits to the Consolidated Tape Association or the Nasdaq Securities Information Processor. An NASD member may earn credits from any of three pools maintained by the NASD/NSX Trade Reporting Facility. The Tape A, Tape B, and Tape C pools represent 75% of the gross revenue paid by the Consolidated Tape Association or the Nasdaq Securities Information Processor with respect to the NASD/NSX Trade Reporting Facility for Tape A, Tape B, and Tape C transactions. Subject to paragraph (b) below, an NASD member may earn credits from the pools according to the pro rata share of revenue attributable to over-the-counter transactions reported to the NASD/NSX 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.
(b) No NASD member shall be eligible to receive a securities transaction credit under Rule 7001C(a) for any calendar quarter in which the total transaction credit payable to such member is less than $250.


Deleted by SR-FINRA-2008-050 eff. Oct. 20, 2008.
Amended by SR-FINRA-2008-006 eff. April 1, 2008.
Amended by SR-NASD-2007-043 eff. April 1, 2007.
Adopted by SR-NASD-2006-127 eff. Nov. 27, 2006.

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