on taxation and fees on transactions by certain securities industry participants (a) In general The Dodd-Frank Wall Street Reform and Consumer Protection Act is amended by adding at the end the following new title: XVII LIMITATION ON TAXATION AND FEES ON TRANSACTIONS BY CERTAIN SECURITIES INDUSTRY PARTICIPANTS 1701. Limitation (a) In general No State or political subdivision thereof may impose a direct or indirect tax upon a securities industry participant where that tax is based upon— (1) the number or volume of securities transactions that the securities industry participant consummates or processes, in whole or in part, within that State or political subdivision or by utilizing personnel, resources, systems, facilities, vendors, technology, or infrastructure that are located in or that traverse that State or political subdivision