October 18, 2016 - Back Office Committee Meeting Agenda

Meeting Agenda 

  • DTCC Updates
    • NSCC Updates
      • Status Update on A8212 - Market Participant IDs (MPIDs) to become matching fields in Q1 2017 for corporate bond and UIT Trades in NSCC's Corporate Bond, Municipal Bond, & UIT Real Time Trade Matching System.
    • DTC Updates
      • Oct 14, 2016:  B4405-16 - Secondary Market Eligibility Process:  this proposed rule change will require that all Secondary Market Eligibility requests (i.e. Older Issues) be submitted through DTC’s underwriting platform UW SOURCE.
      • Oct 12, 2016:  SR-DTC-2016-009 - Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Clarify Certain Rules Provisions Relating to Pledges.
      • Oct 5, 2016: B4379-16 - New Functionality – Cover Protect on Behalf of Another Participant.
      • Oct 5, 2016:  SR-DTC-2016-008 - The Depository Trust Company; Notice of Filing of Proposed Rule Change Relating to Processing of Transactions in Money Market Instruments.
    • FICC Updates
      • Oct 12, 2016: GOV-184-16- Notice of FICC Rule Filing Approval for SR-FICC-2016-003 – Blackout Period Exposure Charge.
      • Sept 28, 2016: GOV-181-16 - The Fixed Income Clearing Corporation (“FICC”) would like to remind Netting Members of their requirement to report certain GSD netting-eligible activity engaged in by their foreign affiliates to FICC.
  • T+2 Settlement
    • Cash Products in Scope - List of the “cash” products in-scope to move to T+2, as defined by the T+2 Product Scope Working Group.
    • Primary Market Recommendations  - T+2 Industry Working Group identified the following primary market recommendations to support the move to T+2
    • Sept 28, 2016: File No. S7-22-16 -  Proposal to amend Rule 15c6-1(a) to shorten the standard settlement cycle.
  • SEC Updates
    • Covered Clearing Agency
      • Sept 28, 2016:  File No. S7-23-16 - Proposed Change to Definition of "Covered Clearing Agency."
  • FINRA Updates
    • ADF
      • October 7, 2016:  Trade Reporting Notice 100716 - Firms that elect to submit clearing-eligible trades to the Alternative Display Facility (ADF) using the Trade Match or Trade Acceptance functionality must identify only a contra party that is another ADF participant with access to the ADF and the ability to view and take action with respect to the submission.
    • TRACE - Treasuries
      • Oct 18, 2016: SR-FINRA-2016-027 - Order Granting Accelerated Approval of a Proposed Rule Change, as Modified by Amendment No. 1, Relating to the Reporting of Transactions in U.S. Treasury Securities to TRACE.
      • Oct 18, 2016: Reg Notice 16-39 - SEC approves rule change to require reporting of transactions in U.S. Treasuries to TRACE.  The Effective Date for Implemention is July 10, 2017.
        • TRACE Technical Specifications
      • Sept 23, 2016:  FINRA Reponse to Comments on SR-FINRA-2016-027
        • Aug 15, 2016:  FIF submitted a comment letter on focusing on operational and implemenational impacts of the proposed rule change.
      • Sept 23, 2016: SR-FINRA-2016-027-Amendment 1 - Amendment to Rule Filing related to use of Modifier ".S" to permit use of this modifier when a reported transaction is part of a series and meets the ".S" criteria regardless of whether one or more of the transactions in the series is priced away from the market.
    • TRACE - CMO
      • October 14, 2016:  SR-FINRA-2016-023 - SEC approves amendment to disseminate Collateralized Mortgage Obligation (CMO) transactions and to reduce reporting times for CMO transactions.
    • FINRA Rule 2232
      • September 28, 2016:  SR-FINRA-2016-032 - SEC extends date for approval/disapproval of SR-FINRA-2016-032 until November 17, 2016 (Mark-up/Mark-down Confirmation Disclosure.
        • FIF submitted a comment letter on the proposed rule changes to FINRA Rule 2232 on Friday, Sept 9, 2016.  
  • 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.
      • Oct 4, 2016:  FIF submitted a comment letter on the proposed rule changes to MSRB Rules G-15 and G-30.
  • FIF Working Group Updates - Sign up for any FIF Working Group 
    • Rule 600/606 - Disclosure of Order Handling Information
      • Sept 26, 2016 - FIF submitted a comment letter on the proposed rule changes to the Disclosure of Order Handling Information.
    • Consolidated Audit Trail (CAT) WG
      • Oct 5, 2016 - FIF met with the SEC to discuss concerns regarding the Consolidated Audit Trail.  Please see the link to FIF's presentation here.
      • Sept 2, 2016 - SRO Response Letter concerning industry feedback of the CAT NMS Plan.
      • CAT NMS Plan Website
    • Tick Size Pilot WG
      • Nov 2016 - Tick Size Pilot Review Files -Tick Size Pilot Statistics to be published.
      • Oct 3, 2016 - Phased Roll-Out of the Tick Size Pilot Program begins.  Please click here for FINRA's published  implementation dates and symbols.
      • FINRA Tick Size Pilot Information available here.
      • Buy-Side Tick Size Pilot Guide available here.
    • Market Data Technology
      • Next Meeting Date:  Wednesday, November 16 @ 10:30 AM ET
    • Cost Basis WG
      • Next Meeting Date: Thursday, November 3 @ 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: Tuesday, Nov 15 @ 11:00 am ET.