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Tuesday, November 7, 2017

UTP Vendor Alert #2017 - 12
Revenue Allocation Formula Summary


Markets Impacted:

Products Impacted:

  • UTP Services

Contact Information:

Media Statement

The Securities Information Processors (the “SIPs”) were created to provide transparency to the equity markets. The SIP Operating Committees are committed to increasing transparency by providing detailed information on the respective operations of the Consolidated Tape Association (“CTA”) and Unlisted Trading Privileges (“UTP”), including summaries of the General Sessions from the Operating Committees’ quarterly meetings, plan policies, quarterly and monthly performance metrics, pricing schedules, technical specifications, etc. The Operating Committees are also committed to working with the entire industry to support the effective operation of the SIPs. Input from the SIP Advisory Committee – which is composed of members representing diverse viewpoints from across the market – is extremely valuable. One Advisory Committee suggestion has been to release a more detailed and clearer explanation of how revenues from the SIPs are allocated to Participants. The Operating Committee has taken this feedback into account and is pleased today to release a detailed summary of the SIPs’ Regulation NMS-mandated revenue allocation formula. The summary can be found here: http://www.utpplan.com/DOC/Revenue_Allocation_Formula.pdf.