Fee Blocks
Fees are disclosed on fills in the NoMiscFees (136) repeating group. The fee amount is in MiscFeeAmt (137); the fee type in MiscFeeType (139) is:
| 139 = | Fee Type | Required | Notes |
|---|---|---|---|
| 1 | Regulatory | O | FINRA Trading Activity Fee (TAF) on bond sells, where applicable |
| 3 | Local Commission | O | Intermediation fee already included in the price (all-in); do not add it again when calculating proceeds |
| 8 | Markup | O | Maker trade fee. Either deducted from NetMoney (included in settlement cash) or billed in arrears |
| 12 | Agent | O | Intermediation fee for intermediated trades. Either deducted from NetMoney (included in settlement cash) or billed in arrears |
A fee is included in settlement cash when NetMoney differs from principal plus accrued interest (GrossTradeAmt plus AccruedInterestAmt) by the fee amount: a buyer's NetMoney is higher and a seller's is lower. When NetMoney equals principal plus accrued, the fee is billed in arrears. A type 3 fee never changes NetMoney.
For bilateral trades where OpenYield is not in the cash and securities flow, fees are billed in arrears.