MBSD processes commissions associated with trades entered with commissions and matched through MBSD. Upon creation, the net commission per Aggregate for trades settling during the previous month is paid / collected as a component of Cash Settlement. Commission is paid on Class B Settlement Date for trades with a CSD in the prior month. For example, if a member submits and compares a trade in January with a CSD in March, FICC would pay / collect the commission on Class B Settlement in April. The commission will be a credit for brokers and a debit for Dealers.
Note: Canceling a matched and commissioned trade where the cancellation occurs in the same pass as the trade was matched will cancel the associated commission.