Proposed Rule Change to Amend FINRA Rule 7730(c) to establish a Limited Waiver of the TRACE Professional Real-Time Data Display Fee on a Pilot Basis

Financial Industry Regulatory Authority, Inc. ("FINRA") is filing with the Securities and Exchange Commission ("SEC" or "Commission") a proposed rule change to amend FINRA Rule 7730(c) to establish a pilot program to provide a limited waiver of the Professional Real-Time Data Display Fee of $60 to access Real-Time Trade Reporting and Compliance Engine ("TRACE") transaction data in connection with certain free trials of data products.  In addition, FINRA proposes technical amendments to Rule 7730(c) and related statements in the fee chart to use a single term, "display application," to describe uniformly a software program that interrogates and displays TRACE data and allows a person to access TRACE data.