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I’m thinking because they are not a broker dealer they fall outside of FINRA. I would say if they are doing any processing with the tickets behind the scene on a server, then volume might be fine. If not, then I would be skeptical.

I use CanDeal everyday for bonds and I believe it is a flat fee for a given level of service. But since it’s OTC, they’re not paying an exchange for access; it’s just its own network. If the software you’re using (trading on ARCA I’m assuming?) is being charged by the exchange, then that could also be different.