September 13 2016 Back Office Committee - Meeting Agenda

Meeting Agenda 

  • DTCC Updates
    • DTC Updates
      • Aug 31, 2016: B4089-16- Matching Utility Interoperability and DTC Links.
    • FICC Updates
      • Sept 1, 2016: GOV171-16 - Resubmission of FICC Rule Filing 2016-003 - Description of the Blackout Period Exposure Charge that may be imposed on GSD's Repo Participants.
    • NSCC Updates
      • Sept 1, 2016: A8254 - New York State Stock Transfer Tax Rebate Program
      • Aug 31, 2016: A8251- Effective Friday, November 11th, 2016, National Securities Clearing Corporation (NSCC) will enhance the Fund/SERV® forms located on the DTCC Web Portal and dtcc.com website
  • T+2 Settlement
    •  Aug 1, 2016:  T+2 Test Approach - Detailed Testing Approach 
  • FINRA Updates
    • Short Interest Reporting
      • Aug 19, 2016:  Regulatory Notice 16-32 - Effective as of the close of business on January 10, 2017, FINRA will retire the web-based system firms currently use to submit short interest positions. 
    • FINRA Rule 2232
      • Aug 12, 2016:SR-FINRA-2016-032 - Proposed Rule Change Relating to FINRA Rule 2232 (Customer Confirmations) to Require Members to Disclose Additional Pricing Information on Retail Customer Confirmations Relating to Transactions in Fixed Income Securities.
        • FIF submitted a comment letter on the proposed rule changes to FINRA Rule 2232 on Friday, Sept 9, 2016.
    • TRACE
      • Jul 18, 2016: SR-FINRA-2016-027 - Proposed Rule Change Relating to the Reporting of U.S. Treasury Securities to the Trade Reporting and Compliance Engine.
        • Sept 6, 2016: SR-FINRA-2016-027 - FINRA extends the time for SEC approval of the rule changes to TRACE.
        • Aug 15, 2016:  FIF submitted a comment letter on  focusing on operational and implemenational impacts of the proposed rule change.
  • MSRB Updates
    • Sept 7, 2016: SR-MSRB-2016-12 - Notice of Filing of a Proposed Rule Change to MSRB Rules G-15 and G-30 to Require Disclosure of Mark-Ups and Mark-Downs to Retail Customers on Certain Principal Transactions and to Provide Guidance on Prevailing Market Price.
    • Aug 19, 2016:  MSRB Notice 2016-21 - MSRB received approval from the Securities and Exchange Commission (SEC) on August 18, 2016 to amend MSRB Rule G-12, on uniform practice, regarding close-out procedures for municipal securities, to mandate that inter-dealer failed transactions be closed-out within 10 calendar days with an allowance for an additional 10- calendar day extension at the buyer’s discretion.
    • Aug 18, 2016: SR-MSRB-2016-07 - Notice of Filing of Amendment No. 1 and Order Granting Accelerated Approval of a Proposed Rule Change, as Modified by Amendment No. 1, Consisting of Proposed Amendments to Rule G-12, on Uniform Practice, Regarding Close-Out Procedures for Municipal Securities.
  • Treasury Updates
    • Sept 27, 2016:  TMPG will be holding meeting on Sept 27, 2016.
  • FIF Working Group Updates - Sign up for any FIF Working Group 
    • Rule 600/606 - Disclosure of Order Handling Information
      • Next meeting will be held on Wednesday, September 14th @ 1:00 PM.
    • LULD Amendments Working Group
      • Aug 19, 2016:  SR-FINRA-2016-034 - FINRA granted an extension by which firms must be compliant with the amendments to Rule 6121.01.  Fims currently have until October 24, 2016 to implement the amendments to FINRA Rule 6121.01.
        • FIF submitted the following comment letter  requesting an extension to the amendments to FINRA Rule 6121.01.
    • Consolidated Audit Trail (CAT) WG
      • July 18, 2016:  FIF CAT Comment Letter
      • CAT NMS Plan Website
    • Tick Size Pilot WG
      • Sept 7, 2016:  Links related to testing and implementation of the Tick Size Pilot is available here.
      • Aug 25, 2016:  SR-FINRA-2016-035 - Proposed Rule Change to Amend FINRA Rule 6191 Relating to the Data Collection Requirements of the Regulation NMS Plan to Implement A Tick Size Pilot Program.
      • Jul, 2016:  Tick Size Pilot Exchange Tech Specs/Links
      • June 30, 2016:  Updates FAQs for Tick Size Pilot available here - New Version Includes Examples of Trade-At Block Size Exceptions
      • FINRA Tick Size Pilot information available here
      • All links to relevant documents and notices tracked by FIF are available at the FIF Tick Size Pilot Initiatives Page
    • Market Data Technology
      • Next Meeting Date:  Wednesday, September 21st @ 10:30 AM ET
    • Cost Basis WG
      • Next Meeting Date: Thursday, September 8th @ 11 AM ET
  • Retail Execution Quality Statistics
  • FIF Regulatory Initiatives Tracking Summary
  • FIF Monthly Reports
    • FIF Market Share Report
    • FIF Market Dynamics Report
    • Market Share Executive Summary
    • Market Dynamics Executive Summary
  • Next Meeting Date: Thursday, October 20, 2016 @ 11 AM ET