Q: If the Executing Broker is inactive in EGUS, will another party to the agreement be assessed this fee?
A: No. Only executing brokers who actively use EGUS will be assessed this fee.
Q: Will this fee be assessed to legacy agreements?
A: If a legacy agreement was uploaded and a PDF rate schedule was attached to the agreement, then the legacy agreement will be included in the assessment. However, if the legacy agreement has no rate schedule attached in the rate schedule section, it will be exempt.
Q: My agreement has both a PDF and eRate attached, will this agreement be part of the assessment?
A: No. Only agreements that contain only a PDF rate schedule will be assessed this fee. Agreements that have both PDF rates and eRates attached will be exempt from the assessment fee.
Q: We have a large number of inactive agreements, will the fee be assessed to these agreements?
A: The fee is only assessed to Executed agreements. Terminated agreements in EGUS will NOT be included in the assessment. Firms that are concerned that a number of their executed agreements are no longer active should review their agreements in order to determine if some of them should be Terminated.
Q: There are a large number of non-conformed parties under my institution, will I be charged an assessment fee for agreements set up under these parties?
A: No. You will only be charged an assessment fee for agreements where a conformed party under your institution is the Executing Broker.
Q: We have rates on many of our agreements that cannot be electronically reflected, how do we deal with these?
A: If you have a rate schedule that combines rates that can be entered into the eRate format, and rates that cannot, you can choose to partially digitize the agreement. Agreements in EGUS can have both a PDF and an eRate attached. However, the decision to partially digitize an agreement is up to each firm and may be appropriate under some circumstances, but not others.
Additionally, if 90% or more of an EGUS institution’s agreements have electronic rate schedules on them, this institution is exempt from the assessment fee. This percentage was set to allow for rate schedules that can’t yet be put into the eRate format.