FINRA Proposes Eliminating Fees for Historical Trade Data Accessed through "ADDS" Website

FINRA proposed amending Rules 7510, 7710 and 7730 in order to eliminate fees for members who access historical trade data through the FINRA Automated Data Delivery System ("FINRA ADDS") website. Through the website, FINRA members can access trade journal files that contain "key information" regarding the member's trades that are reported to FINRA's: (i) Alternative Display Facility; (ii) OTC Reporting Facility; and (iii) Trade Reporting and Compliance Engine. Members use the trade data in order to ensure that the transaction and clearing data captured by their own systems is consistent with the information captured by the FINRA trade reporting systems.

Currently, FINRA does not charge members for access to more recent trade data through the FINRA ADDS website. The amended rules would enable members to access all of their trade journals (recent and historical for up to two years) through the FINRA ADDS website at no cost.

FINRA filed the proposal for immediate effectiveness with an operative date of January 3, 2017.

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