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Monday, July 19, 2010

Equity Trader Alert #2010 - 45
Update on Pricing for Supplemental MPIDs

Markets Impacted:

Contact Information:

What you need to know:

  • As announced in Equity Trader Alert #2010-43, NASDAQ OMX® will introduce a monthly fee for supplemental Market Participant Identifiers (MPIDs), pending filing with the Securities and Exchange Commission (SEC).
  • NASDAQ OMX has updated the effective date of this new pricing to Wednesday, September 1, 2010.
  • If you wish to cancel an MPID, submit the MPID Change Form to NASDAQ OMX Subscriber Services via fax at +1 212 231 5426.

What is changing?

NASDAQ OMX has updated the effective date of new pricing for providing supplemental MPIDs to NASDAQ® member firms, announced in Equity Trader Alert #2010-43, to Wednesday, September 1, 2010, pending filing with the SEC.

What is the new pricing for supplemental MPIDs?

The first MPID requested by a NASDAQ member firm will continue to be free of charge. Supplemental MPIDs will be charged a fee of $1,000 per MPID, per month.

Supplemental MPIDs that are used exclusively for reporting to a facility of the Financial Industry Regulatory AuthorityTM (FINRATM), such as the FINRA/NASDAQ TRFTM or TRACE, will be excluded from this fee. Firms will receive a listing of MPIDs from NASDAQ OMX enabling them to confirm any MPIDs that are exclusively used for FINRA reporting.

Where can I find a listing of my firm’s MPIDs?

Contact NASDAQ OMX Subscriber Services via e-mail at subscriber@nasdaqomx.com for a full list of MPIDs assigned to your firm. Only those MPIDs recently used for TRF reporting are identified as FINRA Reporting Only. If there are others that should be flagged as FINRA Reporting Only, please complete the MPID Affirmation Form and return it as soon as possible, and no later than August 31, 2010.

How can I request a supplemental MPID, change a current MPID or cancel a current MPID?

Supplemental MPIDs can be requested by completing and submitting the Supplemental MPID Form. The fee for new supplemental MPIDs will be prorated for the portion of the month in which the MPID was issued.

If you wish to update or cancel an MPID, you can complete and submit the MPID Change Form. Any supplemental MPID cancellation requests that occur after the first day of the month will be effective on the date requested by the firm. However, the firm will be required to pay for the cancelled MPID through the rest of the month. Therefore, if you wish to cancel any MPID in advance of the implementation of this new fee, be sure to submit the form by August 31st to avoid incurring billing for that MPID in the September billing cycle.

Where can I find additional information?

FINRATM is a trademark of Financial Industry Regulatory Authority, Inc.

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