Oct 11, 2011 - Back Office Meeting Agenda

The agenda for the October Back Office meeting is shown below. 

Meeting Details:
  • When: Tuesday, October 11, 2011 @ 11 AM ET 
  • Where: FIF Bridge: 1-212-812-0859 Passcode: 1031428# 

Meeting Agenda:

  • DTCC Updates 
    • Continuous Net Settlement 
      • CNS for Value Feedback – Comment Deadline: Oct 15, 2011 (Julie Krill, Vice President, Settlement and Asset Services, DTCC) 
    • Sep 26, 2011: B#1517-11 – Registration, Training and Testing information for UW SOURCE Release 4 – Production Date: Nov 3, 2011
    • The Role of DTCC in Mitigating Systemic Risk industry white paper (see attached) 
  • OATS Update 
    • Sep 29, 2011: SR-NYSE-2011-49 – Proposal to delete NYSE Rules 132A, 132B and 132C, adopt the text of the FINRA Rule 7400 Series, the Order Audit Trail System (“OATS”) Rules, and make certain conforming changes 
    • Sep 21, 2011: OATS – MPID to Broker Systems 
    • FIF OATS for NMS Portal 
  • Large Trader Reporting 
    • FIF Large Trader Portal 
    • FIF Large Trader Reporting WG Update 
  • Cost Basis 
    • FIF Cost Basis WG Meeting with IRS (Bob Linville, Co-Chair FIF Cost Basis WG, Broadridge) 
    • Jul 29, 2011; A#7256 – Mutual Funds Networking, ACATS And ACATS FUND/ SERV Enhancements To Assist In Facilitating Transfer Of Cost Basis Information – Effective Date: Dec 5, 2011 
    • Jul 26, 2011; CBRS005.11 – CBRS Enhancement Project Updates: User Testing; additional revisions to Asset and Tax Lot input record layouts – Testing Begins: Sep 30, 2011
    • Sep 19, 2011: Updated CBRS User Guide 
    • Next FIF Cost Basis WG Meeting Date: Oct 14 @ 10 AM ET 
  • FINRA Updates 
    • Operations Professional Examination – Effective Date: Oct 17, 2011 
      • Oct 7, 2011: Qualifications FAQ—Operations Professional 
      • Sep 16, 2011: Regulatory Notice 11-42 – Operations Professional Qualification Examination, Examination Fee and Initial Rollout Period 
      • Operations Professional - (Series 99) – 100 multiple choice questions; 150 minutes testing time. 
      • Jul 2011 – FINRA Regulatory Notice 11-33 – SEC Approves Operations Professional Registration Category and Consolidated FINRA Continuing Education Rule 
  • FATCA 
    • FIF Member Questions (see attached) 
    • Foreign Account Tax Compliance Act 
    • Jul 14, 2011: IR-2011-76 – Treasury and IRS Issue Guidance Outlining Phased Implementation of FATCA Beginning in 2013 
  • NSCC Updates 
    • Universal Trade Capture 
      • Sep 6, 2011: A#7277 – Universal Trade Capture Exchange Testing And Implementation 
    • Mutual Fund Networking 
      • Oct 3, 2011: A#7295 – Mutual Fund Networking – Standardized Data Reporting – Sunsetting Of Reject Codes – Effective Date: Apr 2012 
    • ACATS 
      • Sep 9, 2011: A#7279 – ACATS Modifications regarding Non-CNS ACATS Mutual Fund Transactions (ACATS Settlement Location 10 – Fund/SERV) – Production Date: Oct 20, 2011
  • FICC Updates 
    • Sep 15, 2011: MBS144.11 – MBS Novation Service Description – See Product Description 
    • Sep 12, 2011: MBS141.11 – Production Date - Phase I of Specified Pool Trade Enhancements – Effective Date: Oct 11, 2011 
  • TRACE Updates 
    • Oct 3, 2011: Reporting Corporate and Agency Debt to New TRACE Platform – Effective Date: Feb 6, 2012 
    • Sep 30, 2011: Revised TRACE Securitized Products Secure Web User Guide – Now Available 
  • Treasury Market Practices Group 
    • Sep 23, 2011: Agency Debt and Agency MBS Fails Charge Trading Practice 
    • Sep 23, 2011: Frequently Asked Questions: TMPG Fails Charges 
    • Sep 23, 2011: Agency MBS Fails Charge Trading Practice Summary 
  • LOPR Updates 
    • Aug 10, 2011: LOPR Frequently Asked Questions 
  • Speakers Added: Thu, Oct 20: FIF Quarterly Event in NY hosted by FTEN, A NASDAQ OMX Company 
  • Next Meeting Date: Tuesday, Nov 8 @ 11 AM ET