March 18, 2014 - Front Office Meeting Agenda

Meeting Agenda

  • Limit Up-Limit Down Updates
    • Mar 05, 2014: 34-71649 - Notice of Filing of the Seventh Amendment to the National Market System Plan to Address Extraordinary Market Volatility
    • Mar 04, 2014: Equity Trader Alert #2014 - 21 - Limit Up/Limit Down Testing Dates
    • Feb 24, 2014: Equity Trader Alert #2014 - 18 - Postponed - NASDAQ Limit Up/Limit Down Implementation
  • CBSX Updates
    • Feb 20, 2014: Information Circular IC14-011 - CBSX Ceases Operations
  • FINRA Updates
    • FINRA Wash Sale Proposal 
      • Feb 28, 2014: SR-FINRA-2013-036 - Notice of Designation of Longer Period for Commission Action on Proceedings to Determine Whether to Approve or Disapprove a Proposed Rule Change, as Modified by Amendment No. 1, Relating to Wash Sale Transactions and FINRA Rule 5210 (Publication of Transactions and Quotations). The Commission designates May 2, 2014, as the date by which the Commission should either approve or disapprove the proposed rule change; See all Comment Letters here
      • Dec 03, 2013: SR-FINRA-2013-036 - Notice of Filing of Amendment No. 1 and Order Instituting Proceedings to Determine Whether to Approve or Disapprove a Proposed Rule Change Relating to Wash Sale Transactions and FINRA Rule 5210 (Publication of Transactions and Quotations) 
    • FINRA Hybrid Securities Proposal
      • Feb 27, 2014: SR-FINRA-2013-039 - Notice of Filing of Amendment No. 1 to Proposed Rule Change to Clarify the Classification and Reporting of Certain Securities to FINRA; See also Filing of Amendment No. 1
    • FINRA CARDS
      • Mar 04, 2014: Update Regarding Regulatory Notice 13-42 - FINRA has concluded that the CARDS proposal will not require the submission of information that would identify to FINRA the individual account owner, particularly, account name, account address or tax identification number.
      • Dec 23, 2013: Regulatory Notice 13-42 - FINRA Requests Comment on a Concept Proposal to Develop the Comprehensive Automated Risk Data System - Comment Period Ends March 21, 2014
    • ATS Transparency
      • Feb 14, 2014: Regulatory Notice 14-07 - SEC Approves New Requirements for Alternative Trading Systems - The ATS reporting requirement will be implemented beginning May 12, 2014. The first ATS reports for the week of May 12 through May 16, 2014, will then be due by May 28, 2014. Each ATS must begin reporting order and trade information to FINRA using a unique MPID by November 10, 2014; See also SR-FINRA-2013-042 
    • OATS Trade Reporting WG
      • Feb 27 2014: SR-FINRA-2013-050 - Notice of Filing of Amendment No. 1 and Order Granting Accelerated Approval of a Proposed Rule Change, as Modified by Amendment No. 1, Relating to Over-the-Counter Equity Trade Reporting and OATS Reporting; See also Federal Register Notice
    • ORF Migration
      • Mar 05, 2014: Revised FIX and CTCI Specifications for Reporting OTC Equity Trades to New OTC Reporting Facility (ORF) Platform; See all ORF Technical Notices
      • Feb 28, 2014: FIF Requests Delay of FINRA ORF Migration - FIF requests a delay of the ORF migration currently scheduled for June 2, 2014 to September 29, 2014
      • Feb 12, 2014: ORF Paperwork Contact List
      • Feb 05, 2014: FIF Notes on OTC Reporting Facility (ORF) Migration to MPP Industry Call #2
    • Additional FINRA Updates
      • Mar 06, 2014: SR-FINRA-2014-011 - Proposed Rule Change to Amend FINRA Rule 6432 (Compliance with the Information Requirements of SEA Rule 15c2-11)
      • Feb 27, 2014: SR-FINRA-2014-009 - Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Amend FINRA Rule 5131 (New Issue Allocations and Distributions) to Provide FINRA with General Exemptive Authority
      • Feb 26, 2014: Regulatory Notice 14-09 - FINRA Requests Comment on a Proposed Rule Set for Limited Corporate Financing Brokers
  • Market Stability Issues
    • DTCC Issues
      • Mar 04, 2014: A7694 - DTCC Limit Monitoring User Testing
      • Feb 28, 2014: SR-NSCC-2013-12 - Order Approving Proposed Rule Change to Provide Members with a Risk Management Tool that Will Enable Members to Monitor Trading Activity and Receive Notifications When Pre-Set Trading Limits Are Reached; See also A7693
      • Feb 24, 2014: A7688 - DTCC Limit Monitoring Onboarding Timetable
      • Comment Letters on SR-NSCC-2013-12 DTCC Limit Monitoring
    • Feb 25, 2014: NYSE and NYSE MKT - Introduce New Bulk Cancel Functionality
    • Feb 25, 2014: NYSE Risk Management Tools
    • Feb 21, 2014: Equity Trader Alert #2014 - 16 - NASDAQ OMX Announces Equity Market Net Notional Value Kill Switch
    • Feb 18, 2014: SR-NASDAQ-2014-017 - Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Add a Risk Management Tool Commonly Known as a “Kill Switch”; See also SR-BX-2014-010, SR-PHLX-2014-10
    • Jan 2014: Targeted Examination Letters - Cybersecurity
  • FIF Working Group Updates 
    • Symbology WG
      • Feb 26, 2014: Data Technical News #2014 - 4 - NASDAQ OMX Issues Update on Symbology Initiative
      • Common Suffix Plan Update
    • Large Trader / EBS WG - Sign up for Large Trader Reporting Working Group Alerts
    • Consolidated Audit Trail WG - Sign up for CAT Working Group Alerts
      • Comment Letters on Selection Process Plan including SRO Response
      • Mar 03, 2014: CAT Request For Proposal Documents: version 3.0
      • Feb 28, 2014: RFP Questions and Responses
      • Feb 26, 2014: Bidder Evaluation Framework
      • Feb 26, 2014: Preliminary EBS Gap Analysis
      • Feb 21, 2014: 34-71596 - Order Approving Proposed National Market System Plan Governing the Process of Selecting a Plan Processor and Developing a Plan for the Consolidated Audit Trail
      • FIF CAT Current Documents
      • CAT NMS Plan - RFP Process
  • Additional Updates - Options
    • Mar 07, 2014: Options Regulatory Alert #2014 - 5 - PHLX Updates Participants on Changes and Clarifications to Complex Order System Functionality
    • Mar 07, 2014: Options Technical Update #2014 - 1 - PHLX Changes Complex Order End-of-Day Time
    • Mar 05, 2014: SR-NYSEMKT-2014-17 - Notice of Filing of Proposed Rule Change Adopting Rule 971.1NY for An Electronic Price Improvement Auction for Single-Leg Orders
    • Mar 05, 2014: SR-BOX-2014-09 - Notice of Filing and Immediate Effectiveness of Proposed Clerical and Non-Controversial Rule Changes
    • Mar 05, 2014: SR-CBOE-2014-017 - Notice of Filing of a Proposed Rule Change, as Modified by Amendment 1, to Amend Its Rules Related to Complex Orders
    • Mar 05, 2014: SR-BATS-2014-003 - Order Approving a Proposed Rule Change, as Modified by Amendment No. 1 Thereto, to Modify the BATS Options Opening Process
    • Feb 27, 2014: SR-NYSEArca-2014-02 - Order Granting Approval of Proposed Rule Change Amending Its Rules in Order to Clarify the Applicability and Functionality of Certain Order Types on the Exchange; See also SR-NYSEMKT-2014-05
    • Feb 25, 2014: SR-NYSEMKT-2014-06 - Notice of Filing of Proposed Rule Change Amending Section 17, which are Rules Applicable to Securities known as Fixed Return Options, to Reflect a Name Change to Binary Return Derivatives, a Change to the Calculation of the Settlement Price, Updating Rule References, Adding New Text for ByRDs Series Available for Trading, Amending the Quoting and Trading Increment Applicable to ByRDs, and Adding a New Paragraph 8 to Rule 975NY(a) and Amending Rule 975NY(b)(1) to Address Obvious Errors in ByRDs
    • Feb 18, 2014: SR-CBOE-2013-113 - Notice of Withdrawal of Proposed Rule Change Relating to Multi-Class Spread Orders
    • Feb 18, 2014: SR-ISE-2013-72 - Notice of Designation of a Longer Period for Commission Action on Proposed Rule Change to More Specifically Address the Number and Size of Counterparties to a Qualified Contingent Cross Order
  • Additional Updates - Equities
    • Mar 10, 2014: Information Memo 14-7 - Amendment to Rules 104 and 123C to Allow DMMs to Close a Security Electronically
    • Mar 05, 2014: NYSE and NYSE MKT Rule 123C - G orders on Close
    • Feb 27, 2014: SR-NYSE-2014-02 - Order Granting Approval of Proposed Rule Change Amending Supplementary Material .20 to NYSE Rule 103 Setting Forth Net Liquid Assets Requirements for Member Organizations that Operate as Designated Market Maker Units
    • Feb 25, 2014: SR-NYSE-2013-72 - Order Instituting Proceedings to Determine Whether to Disapprove Proposed Rule Changes to Establish an Institutional Liquidity Program on a One-Year Pilot Basis; See also SR-NYSEMKT-2013-91 
    • Feb 25, 2014: Information Memo 14-6 - Rule 72(d): Block-Sized Agency Crossing Transactions
    • Feb 21, 2014: SR-NASDAQ-2014-004 - Notice of Filing of Amendment No. 1, and Order Granting Accelerated Approval of a Proposed Rule Change, as Modified by Amendment No. 1, to Amend Exchange Rule 4754 Governing the NASDAQ Closing Cross
    • Feb 13, 2014: Regulatory Circular RG14-018 - Introduction of Extended Trading Hours (ETH) for SPX, SPXW, SPXQ, SPXPM and VIX options
  • FIF Monthly Reports
    • Sign up for Report Alerts
    • Initiatives Tracker
    • Milestones Tracker(Milestones Listed Below)
      • TBD: Information Memo 14-4 - NYSE has determined to temporarily suspend implementing the ATI phase-in until further notice while the Exchange assesses the list of ATIs in Attachment A to Information Memorandum 12-25. Accordingly, member organizations may continue using the ATIs the Exchange proposed eliminating until further notice.
      • May 01, 2014: Regulatory Notice 13-38 - FINRA and the other U.S. members of the Intermarket Surveillance Group (ISG members) have extended the effective date for compliance with certain new data elements for Electronic Blue Sheets (EBS) identified in Regulatory Notice 13-16 to May 1, 2014 - Issued Nov 1, 2013
      • May 12, 2014: Regulatory Notice 14-07 - SEC Approves New Requirements for Alternative Trading Systems - The ATS reporting requirement will be implemented beginning May 12, 2014. The first ATS reports for the week of May 12 through May 16, 2014, will then be due by May 28, 2014 - Issued Feb 14, 2014
      • Jun 02, 2014: Revised Migration Date for New OTC Reporting Facility Technology Platform - Firms will begin reporting trades to the ORF on the new platform on Monday, June 2, 2014 - Issued Jan 21, 2014
      • Jun 30, 2014: Equity Technical Update #2014 - 2 - NASDAQ Technology Refresh – OUCH/FLITE/Dedicated OUCH Testing and Migration Dates - Issued Jan 28, 2014
      • 3Q 2014: Regulatory Circular RG14-018 - In the 3rd Quarter of 2014, CBOE intends to introduce Extended Trading Hours for options on the S&P 500 Index complex (SPX, SPXW, SPXQ, SPXPM) and on the CBOE S&P 500 Volatility Index (VIX)
      • Jul 31, 2014: SR-NYSE-2013-48 - Notice of Filing and Immediate Effectiveness of Proposed Rule Change Extending the Pilot Period for the Exchange’s Retail Liquidity Program for An Additional 12 Months, to Expire on July 31, 2014 - Issued Aug 2, 2013
      • Sep 30, 2014: 34-71018 - Order Granting a Temporary Exemption Pursuant to Section 36(a)(1) of the Securities Exchange Act of 1934 from the Filing Deadline Specified in Rule 613(a)(1) of the Exchange Act - Issued Dec 6, 2013
      • Nov 10, 2014: Regulatory Notice 14-07 - SEC Approves New Requirements for Alternative Trading Systems. Each ATS must begin reporting order and trade information to FINRA using a unique MPID by November 10, 2014 - Issued Feb 14, 2014
      • Nov 14, 2014: SR-FINRA-2013-049 - Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Extend the Tier Size Pilot of FINRA Rule 6433 (Minimum Quotation Size Requirements for OTC Equity Securities) - Issued Nov 03, 2013
      • Dec 15, 2014: SR-NYSEMKT-2013-83 - The Exchange proposes to amend Commentary .07 to Rule 904 to extend the time period of the SPY Pilot Program, which is currently scheduled to expire on October 15, 2013, through December 15, 2014 - Issued Oct 22, 2013
      • Nov 1, 2015: 34-70150 - Phase 3 of Order Temporarily Exempting Certain Broker-Dealers and Certain Transactions from the Recordkeeping and Reporting Requirements of Rule 13h-1 Under the Securities Exchange Act of 1934 - Issued Aug 08, 2013
    • Market Share Report
    • Market Dynamics Report
    • Market Share & Market Dynamics Executive Summary
  • Register for March 25 FIF Event: Data-Driven Trading - Meeting Business and Regulatory Needs, Sponsored by CenturyLink Technology Solutions
  • Conference Call Logistics
  • Next Meeting Date: Thursday, April 17th, 2014 @ 4 PM ET