February 14, 2017 - Back Office Committee Meeting Agenda

Meeting Details  

  • When: Tuesday, February 14, 2017 @ 11 AM ET
  • Where: Please click here to join the meeting.

Meeting Agenda 

  • DTCC Updates
    • DTC Updates
      • Jan 23, 2017: 3743-16 – MMI Finality Through Optimization – Phased-in Implementation beginning January 2017 REVISED
      • Jan 17, 2017: 4929-17 – Scope and Schedule for Transition of Corporate Actions Reorganization Lifecycle (Entitlements and Allocations) Processing to ISO 20022 Messaging
      • Jan 9, 2017: 34-79764 - Order Granting Approval of Proposed Rule Change Relating to Processing of Transactions in Money Market Instruments 
      • Jan 5, 2017: 34-79746 - Notice of Filing and Immediate Effectiveness of Proposed Rule Change, as Modified by Amendment No. 1, Regarding the Update of its Corporate Action Service for the Processing of Redemptions Events and the Transition to International Organization for Standardization 20022 Messaging for Corporate Action Announcements.
    • NSCC Updates
      • Feb 8, 2017: a8330 - DOL Fiduciary Rule and Share Class Conversion Enhancements
      • Feb 7, 2017: a8334 - Rollout of New Consolidated Trade Summary Web-Based Inquiry Tool
      • Jan 13, 2017: a8314 – Accelerated Trade Guaranty – Announcement of Parallel Period
      • Jan 4, 2017: 34-79734 – Order Granting Approval of Proposed Rule Change to Accommodate Shorter Standard Settlement Cycle and Make Other Changes
  • T+2 Settlement
    • Feb 2017:  Quick Guide - T+2 Industry Testing - Presentation from the DTCC related to T+2 Industry Testing.
    • Feb 6, 2017:  Corporate Action Test Events for Test Cycle 1
    • Jan 31, 2017:  Test CUSIPS for T+2 Industry Testing
  • OCC Updates
    • Jan 18, 2017: 34-79818 – Notice of Filing of Proposed Rule Change Concerning the Options Clearing Corporation’s Margin Coverage During Times of Increased Volatility
  • FINRA Updates
    • EBS
      • Feb 1, 2017:  Reg Notice 17-05 - Effective Feb 1, 2017, FINRA and the other U.S. members of the Intermarket Surveillance Group (ISG members) have updated several data elements for Electronic Blue Sheets (EBS).
    • ATS
      • Jan 17, 2017:  ATS Order Book Processing Numbers - FINRA amended Rule 4554 to require ATSs to provide additional order sequencing information on reports submitted to the Order Audit Trail System (“OATS”).  
    • TRACE
      • Jan 30, 2017:  TRACE Testing for CMO Trade Reporting and Dissemination - On Monday, March 20, 2017, FINRA will release new software with changes and enhancements to TRACE trade reporting and dissemination for collateralized mortgage obligation (CMO) securities
      • Jan 23, 2017:  Regulatory Notice 16-39 - Beginning July 10, 2017, FINRA member firms must begin reporting transactions in U.S. Treasury Securities to FINRA via TRACE. This Notice describes the scope of the term “U.S. Treasury securities”
      • 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.”
    • TRAQS
      • Jan 27, 2017: TRAQS TRACE Reporting Enhancements - On Monday, March 20, 2017, FINRA will implement enhancements to the secure FINRA TRAQS Website for TRACE Corporate and Agency and Securitized Products trade reporting
    • OATS
      • Jan 20, 2017: OATS Reporting Technical Specifications – FINRA released a new edition of the OATS Reporting Technical Specifications dated January 20, 2017
  • Blockchain
    • Jan 21, 2017:  Report on Distributed Ledger Technology - FINRA issued a report on the use of Distributed Ledger Technology (Blockchain) and it's potential impact on the finacial services industry.
  • TMPGFIF Working Group Updates: Please click here to Join Working Groups.
    • Jan 24, 2017: Tri-Party Repo Market Best Practice - TMPG Releases Best Practice Recommendations to Improve Reporting in the Tri-Party Repo Market
    • Jan 24, 2017: Best Practices for Treasury, Agency Debt and Agency MBS Markets
      • Consolidated Audit Trail (CAT)
        • Feb 3, 2017:  FIF submitted a comment letter to the SEC requesting permanent relief with respect to the current November 1, 2017 compliance data for Phase Three of Rule 13h-1.
        • Jan 26, 2017: SR-FINRA-2017-003 - Proposed rule change to adopt the FINRA Rule 6800 Series to implement the compliance rule regarding the National Market System Plan Governing the Consolidated Audit Trail (the “CAT NMS Plan” or “Plan”).
        • Next FIF CAT meeting will be held on Wednesday, February 8th @10:00 am ET.
        • CAT NMS Plan Website
    • Mark-Up/Mark-Down
      • FIF held a joint session with FINRA/MSRB to discuss recent amendments to Mark-Up/Mark-Down Requirements.
    • TRACE for TreasuriesCost Basis Working Group
      • FIF will be holding working group meetings to address implementation concerns pursuant to new TRACE for Treasuries rules.
      • The next Cost Basis Working Group meeting will be held on Thursday, March 2nd @ 11:00 am ET.
    • Data & TechnologyFIF Retail Execution Quality Statistics
      • Next Meeting:  February 22, 2017 @ 10:30 am ET
    • FIF Regulatory Initiatives Tracking Site - (Requires FIF Website Login)
    • FIF Monthly Reports
      • Market Data Capacity Statistics – (Requires FIF Website Login)

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