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Federal Register / Vol. 86, No. 87 / Friday, May 7, 2021 / Notices
ad No change.

e Specialized Services Related to FINRA/
Nasdaq Trade Reporting Facility.

WebLink ACT or Nasdaq ..
Workstation Post Trade

ACT Workstation
Nasdaq WorkX

$525.00/month.
A subscription includes: The Trade Reporting File Upload service, which allows members to upload multiple trade reports in batches to ACT; and the ACT Reject Scan service, which provides a list of all of a members rejected ACT trade entries and a copy of each rejected trade report form submitted to ACT.
$225 per month for the ACT Trade History service which provides searchable access to a members trades that are older than six months dating back to 2009.
$525/logon/month.
$225 per month for the ACT Trade History service which provides searchable access to a members trades that are older than six months dating back to 2009.
$525/logon/month.
$225 per month for the ACT Trade History service which provides searchable access to a members trades that are older than one year dating back five years. For customers using both Act Workstation and Nasdaq WorkX, fees for Nasdaq WorkX will be waived for the first month of service.

fj No change.
Fees are assessed in full month increments under this section, and thus are not prorated.

Section 116. Nasdaq Risk Management a Clearing brokers using the Nasdaq Risk Management Service will be assessed a charge of $0.030 per side per trade monitored by Nasdaq Risk Management and a charge of $17.25 per month per correspondent executing broker monitored by Nasdaq Risk Management, up to a maximum charge of $7,500 per month per correspondent executing broker. Clearing brokers with less than 17,000 trades per month per correspondent executing broker and that fall below 50 total correspondents monitored during the month are assessed a monthly fee of $500 per correspondent executing broker monitored in lieu of the $0.030 per side per trade charge.
bc No change.
Section 116A. Nasdaq Post-Trade Risk Management a Clearing brokers using the Nasdaq PostTrade Risk Management Service will be assessed a charge of $0.030 per side per trade monitored by Nasdaq Post-Trade Risk Management and a charge of $17.25 per month per correspondent executing broker monitored by Nasdaq Post-Trade Risk Management, up to a maximum charge of $7,500 per month per correspondent executing broker. Clearing brokers with less than 17,000 trades per month per correspondent executing broker and that fall below 50 total correspondents monitored during the month are assessed a monthly fee of $500 per correspondent executing broker monitored in lieu of the $0.030 per side per trade charge. For customers using both Nasdaq Risk Management and Nasdaq PostTrade Risk Management, fees for Nasdaq Post-Trade Risk Management will be waived for the first month of service.

Section 149. Nasdaq InterACT
Nasdaq InterACT is a surveillance tool that provides summaries of a subscribing members trade activity for the FINRA/
Nasdaq Trade Reporting Facility. Such summaries include the total number of trades that have been reported to the Facility, various statistics associated with those trades
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reported including: declines, cancels, stepouts, as-ofs, etc, the total number of trades that must be reviewed for acceptance, and the total number of Regulation NMS
trade throughs. FINRA/Nasdaq Trade Reporting Facility shall mean the FINRA/
Nasdaq TRF Carteret and the FINRA/Nasdaq TRF Chicago.
InterACT is available for a subscription fee of $400 per month, per user, with a maximum fee of $2,400 per month, per member firm.
Section 149A. Nasdaq Real-Time Stats Nasdaq Real-Time Stats is a surveillance tool that provides summaries of a subscribing members trade activity for the FINRA/
Nasdaq Trade Reporting Facility to support compliance with FINRA rules. Such summaries include the total number of trades that have been reported to the Facility, various statistics associated with those trades reported including: Declines, cancels, stepouts, as-ofs, etc, and the total number of trades that must be reviewed for acceptance.
FINRA/Nasdaq Trade Reporting Facility shall mean the FINRA/Nasdaq TRF Carteret and the FINRA/Nasdaq TRF Chicago.
Real-Time Stats is available for a subscription fee of $400 per month, per user, with a maximum fee of $2,400 per month, per member firm. For customers using both Nasdaq InterACT and Nasdaq Real-Time Stats, fees for Nasdaq Real-Time Stats will be waived for the first month of service.

b Not applicable.
c Not applicable.

II. Self-Regulatory Organizations Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, the Exchange included statements concerning the purpose of and basis for the proposed rule change and discussed any comments it received on the proposed rule change. The text of these statements may be examined at the places specified in Item IV below. The Exchange has prepared summaries, set forth in sections A, B, and C below, of the most significant aspects of such statements.

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A. Self-Regulatory Organizations Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change 1. Purpose Nasdaq has re-platformed three of its products for trade reporting, surveillance and risk management services1 ACT Workstation Workstation,4 2 Nasdaq InterACT
InterACT 5 and 3 Nasdaq Risk Management Risk Management.6
These products will be renamed 1
Nasdaq WorkXTM WorkX, 2
Nasdaq Real-Time Stats Real-Time Stats and 3 Nasdaq Post-Trade Risk Management Post-Trade Risk Management, respectively.7 The Exchange is proposing to amend Equity 7, Section 115 and adopt Equity 7, Sections 116A and 149A to incorporate these new products into the Exchanges pricing schedule.
Similar to the Workstation, WorkX is a web-based application that will facilitate trade reporting and clearing functions for the FINRA/Nasdaq Trade Reporting Facility Carteret the FINRA/
Nasdaq TRF Carteret and the FINRA/
Nasdaq Trade Reporting Facility 4 Workstation is a web-based application that electronically facilitates trade reporting and clearing functions for trades reported to the FINRA/
Nasdaq TRF. Workstation services include trade entry, trade scan, and uploads for bulk trade entry to support FINRA/Nasdaq TRF participant trade reporting in accordance with Financial Industry Regulatory Authority FINRA rules.
5 InterACT is a real-time compliance tool that assists firms with regulatory supervision of trade activity reported to the FINRA/Nasdaq TRF.
InterACT summarizes and consolidates data for over the counter trade reports to help customers comply with FINRA rules.
6 Risk Management is a Workstation add-on service which allows correspondent clearing firms to manage credit risk exposure by offering real-time monitoring against limit settings and activity trade controls.
7 As discussed below, once all current participants have migrated to the re-platformed products, the Exchange will submit a future filing to retire the services and remove Workstation, InterACT and Risk Management products from its fee schedule.

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