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7001E. Securities Transaction Credit

This rule is no longer applicable. NASD Rule 7001E has been superseded by FINRA Rule 7610B. Please consult the appropriate FINRA Rule.

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/NYSE Trade Reporting Facility may receive from the NASD/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 NASD/NYSE Trade Reporting Facility that the NASD/NYSE 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/NYSE Trade Reporting Facility. The Tape A, Tape B, and Tape C pools represent 100% of the gross revenue paid by the Consolidated Tape Association or the Nasdaq Securities Information Processor with respect to the NASD/NYSE Trade Reporting Facility for Tape A, Tape B, and Tape C transactions. 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/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.

Amended by SR-NASD-2007-031 eff. April 18, 2007.
Adopted by SR-NASD-2007-025 eff. April 18, 2007.

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