June 20, 2017 - Back Office Committee Meeting Agenda

Meeting Details  

  • When: Tuesday, June 20, 2017 @ 11 AM ET
  • Where: Please click here to join the meeting.

Meeting Agenda 

  • DTCC Updates
    • FICC Updates
      • June 14, 2017: GOV268-17 - TMPG Fails Charges.
      • June 6, 2017: GOV261-17 - FICC Independence Day Important Notice 2017.
      • May 30, 2017: MBS370-17 - Novation Production Deployment.
      • May 15, 2017: MBS366-17 - New and Updated Novation Reports.
      • May 15, 2017: MBS365-17 - Submission of Rule Filing (SR-FICC-2017-012) Related to FICC's Novation and Treatment of Itself as the Settlement Counterparty for Certain Transactions.
    • NSCC Updates
      • June 12, 2017: a8408 - Updated Networking OMNI/SERV Recored Layouts Available Online.
      • June 9, 2017: a8409 - Consolidated Trade Summary (CTS) Rewrite: Go-live June 23, 2017.
      • May 25, 2017: a8400 - Mutual Fund Profile Service II – Profile Security Enhancements.
      • May 24, 2017: a8399 - NSCC PROPOSED RULE CHANGE AND ADVANCE NOTICE FILING – STOCK OPTIONS AND FUTURES SETTLEMENT AGREEMENT (SR-NSCC-2017-007 AND SR-NSCC-2017-803).
      • May 22, 2017: a8397 - Upgrade of the Foreign-Security Identification in Obligation Warehouse - Client Testing.
      • May 15, 2017: a8387 - NSCC Business Continuity and Disaster Recovery – Testing Dates and Modified Mutual Funds Processing Schedule.
  • MSRB Updates
    • June 1, 2017: Second Request for Comment on Draft Amendments to and Clarifications of MSRB Rule G-34, on Obtaining CUSIP Numbers
    • May 26, 2017:  MSRB 2017-03 - Proposed Rule Change to Amend MSRB Rule G-26, on Customer Account Transfers, to Modernize the Rule and Promote a Uniform Customer Account Transfer Standard.
  • FINRA Updates
    • Additional FINRA Rule Filings
      • June 14, 2017: SR-FINRA-2017-019 - Proposed Rule Change to Extend the Implementation of FINRA Rule 4240 (Margin Requirements for Credit Default Swaps).
      • June 7, 2017: Regulatory Notice 17-22 - FINRA Adopts Rules on Disruptive Quoting and Trading Activity and Expedited Proceedings.
      • May 31, 2017: Regulatory Notice 17-21 - FINRA Revises the Rule 4530 Filing Application Form and the Product and Problem Codes for Reporting Customer Complaints and for Filing Documents Online.
    • CAT
      • June 7, 2017: SR-FINRA-2017-017 - Proposed Rule Change to Adopt FINRA Rule 6898 (Consolidated Audit Trail - Fee Dispute Resolution).
      • May 15, 2017: SR-FINRA-2017-013 - Proposed Rule Change Relating to Elimination and Modification of Duplicative Rules After Implementation of the Consolidated Audit Trail.
    • TRACE
      • June 12, 2017:  SR-FINRA-2017-018 - Proposed Rule Change Relating to the Implementation Date for Trade Modifiers When Reporting Transactions in U.S. Treasury Securities.
      • June 12, 2017:  Trade Reporting Notice - July 10 effective data for use of TRACE for Treasuries Modifiers.
      • June 1, 2017: TRACE for Treasuries Securities and Participant Data Availability .
      • May 26, 2017: TRAQS User Guides for TRACE Trade Reporting of Treasury Securities.
      • May 18, 2017: SR-FINRA-2017-015 - Proposed Rule Change to Amend FINRA Rule 7730 to Make Available a New End-of-Day TRACE Transaction File.
      • May 16, 2017: 34-80685 - Notice of Filing of a Proposed Rule Change to Amend FINRA Rule 7730 to Reduce the Delay Period for the Historic TRACE Data Sets Relating to Corporate and Agency Debt Securities.
    • OATS
      • May 15, 2017: SR-FINRA-2017-013 - Rule change to eliminate the Order Audit Trail System (“OATS”) rules in the FINRA Rule 7400 Series and to amend FINRA’s electronic blue sheet (“EBS”) rules, Rules 8211 and 8213, to reflect changes to these rules once members are effectively reporting to the consolidated audit trail (“CAT”) and the CAT’s accuracy and reliability meet certain standards.
  • TMPG
    • June 14, 2017: GOV268-17 - TMPG Fails Charges.
    • May 23, 2017: TMPG Meeting Minutes for their meeting on May 23rd. 

  • T+2
    • May 25, 2017:  Corporate Action Test Events for Cycles 9 through 11.
    • May 25, 2017:  Updated FAQs related to T+2 implementation.
    • May 25, 2017:  T+2 Changes to the Securities Lending Recall Period.
    • May, 2017:  T+2 Institutional Test Id Implementation .
  • DOL Fiduciary Rule
    • June 9, 2017:  The DOL Fiduciary Rule went into effect on June 9, 2017.
  • FIF Working Group Updates: Please click here to Join Working Groups.
    • Consolidated Audit Trail (CAT)
      • June 23, 2017:  The CAT Working Group will be holding a meeting.
      • June 20, 2017: CAT Firm Designated ID subgroup will be holding a meeting.
      • June 15, 2017:  Draft Comment Letter on retirement of duplicative systems.
      • March 2, 2017: FIF submitted a comment letter to the SEC addressing various clock synchronization issues related to CAT and FINRA Rule 4590.
      • CAT NMS Plan Website
    • Tick Sized Pilot WG
      • April 5, 2017:  FIF submitted a comment letter on proposed methodology of B.I, B.II, and B.IV data.
      • FIF held a WG call on March 8th to discuss FINRA's proposed masking methodology of B.I, B.II, and B.IV data.
    • Mark-Up/Mark-Down WG
      • June 8, 2017:  FIF submitted FAQs to FINRA and MSRB, which are being considered for incorporation into FAQs released by both regulators.
      • May 18, 2017:  FIF held a working group meeting.
      • March 29, 2017:  FIF held a Mark-Up/Mark-Down working group meeting to discuss various implementation issues.
      • FIF held a joint session with MSRB on March 29th regarding FINRA Rule 2232/MSRB Rule G-15/G-30 (Mark-Up/Mark-Down). The discussion focused on implementation concerns.
    • Cost Basis Working Group
      • The next Cost Basis Working Group meeting will be held on Thursday, July 13th @ 11:00 am ET.
    • Data & Technology
      • Next Meeting:  June 21, 2017 @ 10:30 am ET
    • Retail Execution Quality
      • FIF to add marketable limits to Retail Execution Quality Statistics 
    • FIF Retail Execution Quality Statistics
    • FIF Regulatory Initiatives Tracking Site - (Requires FIF Website Login)
    • FIF Monthly Reports
      • Market Data Capacity Statistics – (Requires FIF Website Login)

Next Meeting Date: Tuesday, July 18, 2017 @ 11:00 am ET.