Dear clients,

FINRA has adjusted the TAF for sales of TRACE-eligible equity securities (EQUITY RATE) from $0.000119 per share to $0.000130 per share. There is also a corresponding increase to the per transaction cap (MAX FEE/TRADE) from $5.95 to $6.49. The new rate will apply to any sale of a covered equity security, subject to the TAF, occurring on or after Saturday, January 1, 2022. For additional information please visit the official FINRA website.