January 10, 2017 - Back Office Committee Meeting Agenda

Meeting Agenda 

  • DTCC Updates
    • DTC Updates
      • Dec 22, 2016: B4816-16 - Rule Filing SR-DTC-2016-014 – Redemptions Service Guide.
      • Dec 22, 2016: B4550-16 - ISO 15022 Settlement Output.
      • Dec 13, 2016: B4731-16 - Approval of Clearing Agency Investment Policy Rule Filing (SR-DTC-2016-007).
    • NSCC Updates
      • Jan 3, 2017: A8286-revised- DOL Fiduciary Rule – Enhancements to DTCC Payment aXis Commission and Fee Settlement, Networking and Retirement Plan Reporting.
      • Dec 15, 2016: A8305 - NSCC Proposed Rule Change-CTS Rewrite, Elimination of Re-Pricing in Foreign Security Accounting Operation and Other Related Rule Changes. (SR-NSCC-2016-008).
    • FICC Updates
      • Dec 27, 2016: MBS304-16 - Capped Contingency Liquidity Facility (“CCLF®”) Reset Reminder.
  • T+2 Settlement
    • Dec 14, 2016: SR-FINRA-2016-047 - Proposed Rule Change to Amend FINRA Rules to conform to the Commission’s Proposed Amendment to SEA Rule 15c6-1(a) and the Industry-led Initiative to Shorten the Standard Settlement Cycle for Most Broker-dealer Transactions from T+3 to T+2.
    • Dec 5, 2016:  SEC File No. S7-22-16 - SEC Proposal to Shorten the Transaction Settlement Cycle.
      • FIF submitted a comment letter on behalf of FIF member firms affirming FIF's support of the industry move to T+2 on December 5, 2016.
    • Dec 1, 2016:  T+2 FAQs - Updated FAQs related T+2 Settlement.
  • MSRB Updates
    • Jan 12, 2017:  Webinar - MSRB staff will review key new provisions of MSRB Rule G-15 on confirmation, clearance, settlement and other uniform practice requirements with respect to retail customer transactions and MSRB Rule G-30 on prices and commissions related to disclosure of mark-ups and mark-downs on customer confirmations.
    • Nov 29, 2016: Regulatory Notice 2016-28 - New Disclosure Requirements Under MSRB Rule G-15 and Prevailing Market Price Guidance Pursuant to Rule G-30 Effective May 14, 2018.
  • FINRA Updates
    • TRACE
      • Jan 26, 2017:  FINRA will be holding a phone-in workshop to discuss the rules requirements and implementation considerations.  Please click here to register.
      • Jan 3, 2017: TRACE for Treasuries SPEC - FINRA has updated the TRACE Technical Specifications for Treasury Securities to reflect a rule filing that includes a change to the definition of a “When-Issued Transaction.”
      • Dec 15, 2016:  TRACE API SPEC - FINRA has updated the TRACE Corporate and Agency Debt Web API Specification to now include a Convertible Flag in the Security Master and Daily List files and to also eliminate the Fitch rating heading and value in the Most Active Print Media files. 
  • FIF Working Group Updates: Please click here to Join Working Groups.
    • Consolidated Audit Trail (CAT)
      • Jan 18, 2017:  FIF will be holding a CAT working group meeting to discuss the selection of the Planned Processor and next steps related to the CAT implementation stage.
      • Dec 21, 2016:  FIF submitted a letter to the CAT Participants offering FIF's assistance in achiving the various implementation milestones.
      • CAT NMS Plan Website
    • ATS
      • Jan 13, 2017:  FIF will be holding an ATS working group meeting at 10:00 am with FINRA to discuss implementation issues related to the inclusion of sequencing numbers pursuant to FINRA Rule 4554.
    • Tick Size Pilot Working Group
      • December 21, 2016:  FIF submitted a comment letter to FINRA expressing FIF members' concerns regarding the publication of B.I and B.II Data (Disaggregated Data).
    • Cost Basis Working Group
      • Next Meeting:  February 2, 2017
    • Data & Technology
      • Next Meeting:  January 18, 2017 @ 10:30.
    • FIF Retail Execution Quality Statistics
    • FIF Regulatory Initiatives Tracking Site - (Requires FIF Website Login)
    • FIF Monthly Reports 

o    Market Share Report

o    Market Dynamics Report

o    Market Share Executive Summary

o    Market Dynamics Executive Summary


Next Meeting Date: Tuesday, February 14, 2017 @ 11:00 am ET.