Burton-Taylor is proud to introduce the Quarterly Review of SIP Revenue for U.S. Securities Exchanges H121 report analyzing the SIP revenue sharing program for U.S. equity exchanges and transaction reporting facilities (TRFs).  The report analyzes yearly quote and trade revenue and messaging data for Tape A, Tape B and Tape C equity securities.  The report also provides historical annual revenue and messaging totals for 2012 to 2020 and a comparison of Q320 YTD vs. Q321 YTD, as well as an analysis of each exchange holding company’s activity over the same time period.