April 22, 2014 - Front Office Meeting Agenda

Meeting Agenda

  • Limit Up-Limit Down 
    • Apr 17, 2014: SR-NASDAQ-2014-036 - Notice of Filing of Proposed Rule Change to Clarify the Rule Governing the Operation of the Closing Cross in Circumstances Where a Pause Triggered Under the LULD Plan Would be Triggered After 3:50 p.m. EST. Comments due: 21 days after publication in the Federal Register
    • Apr 04, 2014: SR-NYSEMKT-2014-31 - Notice of Filing and Immediate Effectiveness of Proposed Rule Change Extending the Pilot Period Applicable to Rule 953.1NY(c), Which Addresses How the Exchange Treats Obvious and Catastrophic Errors During Periods of Extreme Market Volatility, until February 20, 2015; See also SR-NYSEArca-2014-36, SR-BOX-2014-12, SR-CBOE-2014-033, SR-C2-2014-008, SR-BX-2014-017, SR-ISE-2014-22, SR-NASDAQ-2014-033
    • Apr 03, 2014: 34-71851 - Order Approving the Seventh Amendment to the National Market System Plan to Address Extraordinary Market Volatility
    • Mar 25, 2014: SR-NYSE-2014-17 - Notice of Filing and Immediate Effectiveness of Proposed Rule Change Extending a Pilot Program Related to Rule 128, entitled “Clearly Erroneous Executions For NYSE Equities”; See also SR-BX-2014-014, SR-CHX-2014-04, SR-FINRA-2014-013, SR-NSX-2014-07, SR-NYSEArca-2014-32, SR-NYSEMKT-2014-28, SR-BATS-2014-008, SR-Phlx-2014-18, SR-BYX-2014-003, SR-EDGA-2014-006, SR-CBOE-2014-025, SR-ISE-2014-19
  • Rule 15c3-5
    • Apr 15, 2014: Responses to Frequently Asked Questions Concerning Risk Management Controls for Brokers or Dealers with Market Access
  • 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
    • FINRA CARDS
      • Mar 21, 2014: FIF CARDS Comment Letter; See Regulatory Notice 13-42 and all comment letters here
    • FINRA Hybrid Securities Proposal
      • Apr 10, 2014: SR-FINRA-2013-039 - Order Granting Approval of a Proposed Rule Change, as Modified by Amendment No. 1, to Clarify How Certain Securities Are Classified and Reported to FINRA
      • Mar 27, 2014: SR-FINRA-2013-039 - Notice of Designation of Longer Period for Commission Action on Proceedings to Determine Whether to Disapprove Proposed Rule Change, as Modified by Amendment No. 1, to Clarify the Classification and Reporting of Certain Securities to FINRA - The Commission designates May 28, 2014, as the date by which the Commission shall either approve or disapprove the proposed rule change
    • ATS Transparency
      • Alternative Trading System Transparency Page
      • Apr 15, 2014: SR-FINRA-2014-018 - Proposed Rule Change to Adopt FINRA Rule 4553 to Establish a Fee Schedule for Access to Alternative Trading System Volume Information Published on FINRA’s Website
      • Apr 09, 2014: SR-FINRA-2014-017 - Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Relating to Reporting and Market Participant Identifier Requirements for Alternative Trading Systems
      • Apr 01, 2014: Alternative Trading System (ATS) Specification for UAT v0.1
      • Apr 01, 2014: ATS Trade Reports File Format User Specification v0.3
      • 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
      • Apr 11, 2014: FIF Questions on SR-FINRA-2013-050 - FINRA Response
      • 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
      • Apr 14, 2014: TDDS 2.0 IP Address Handoff Request
      • Apr 08, 2014: OTC Reporting Facility (ORF) Industry Testing Reminder
      • Apr 07, 2014: ORF Paperwork Contact List - To be added to this list, email fifinfo@fif.com
      • Mar 27, 2014: OTC Reporting Facility (ORF) Migration Web page
      • Mar 26, 2014: OTC Reporting Facility (ORF) Industry Testing 
      • Mar 25, 2014: Revised Migration Date for New OTC Reporting Facility Technology Platform - FINRA announced that they are delaying the ORF Migration to September 15, 2014
      • Mar 19, 2014: Revised API Specification for New OTC Reporting Facility (ORF) Platform
      • Mar 05, 2014: Revised FIX and CTCI Specifications for Reporting OTC Equity Trades to New OTC Reporting Facility (ORF) Platform
      • Next Meeting Date: Wednesday, April 16th @ 1 PM ET
    • Additional FINRA Updates
      • Apr 08, 2014: Regulatory Notice 14-14 - FINRA Requests Comment on the Effectiveness and Efficiency of its Communications With the Public Rules
      • Apr 04, 2014: SR-FINRA-2014-016 - Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Update Rule Cross- References and Make Non-Substantive Technical Changes to Certain FINRA Rules
      • Mar 19, 2014: Regulatory Notice 14-10 - SEC Approves New Supervision Rules
  • Cybersecurity
    • Apr 15, 2014: SEC OCIE Cybersecurity Initiative
    • Jan 2014: FINRA Targeted Examination Letter: Cybersecurity
  • Qualified Contingent Cross Order
    • Apr 21, 2014: NYSE Amex Options and NYSE Arca Options Trader Update on Qualified Contingent Cross Transactions
    • Apr 03, 2014: SR-ISE-2013-72 - Order Granting Approval of Proposed Rule Change, as Modified by Amendment No. 1, to More Specifically Address the Number and Size of Counterparties to a Qualified Contingent Cross Order
    • Mar 27, 2014: SR-NYSEMKT-2014-23 - Notice of Filing and Immediate Effectiveness of Proposed Rule Change Amending Rule 900.3NY to Specifically Address the Number and Size of Contra-Parties to a Qualified Contingent Cross Order; See also SR-NYSEARCA-2014-27
  • FIF Working Group Updates - Join Working Groups
    • Symbology WG
      • Feb 26, 2014: Data Technical News #2014 - 4 - NASDAQ OMX Issues Update on Symbology Initiative
    • Market Stability WG
      • Apr 01, 2014: A7814 - DTCC Limit Monitoring Launch Date and Webinars
      • Mar 20, 2014: A7703 - DTCC Limit Monitoring Onboarding Timetable
    • Large Trader / EBS WG
    • Consolidated Audit Trail WG
      • Apr 14, 2014: SEC Questions on CAT Options Market Maker Cost Survey
      • Apr 02, 2014: CAT Bid Response List
      • Mar 20, 2014: FIF CAT WG Meeting Notes with SEC; See also CAT Commissioner Briefing and CAT/Large Trader Phase 3 Discussion
  • Additional Updates - Options
    • Apr 15, 2014: Reminder: Mandatory FIX Change for Upcoming Complex Order Book Functionality
    • Apr 11, 2014: SR-ISE-2014-21 - Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Amend Supplementary Material .13 to Rule 504, SR-BOX-2014-13
    • Apr 01, 2014: SR-NYSEMKT-2014-26 - Notice of Filing and Immediate Effectiveness of Proposed Rule Change Amending Its Option Trading Rules to Extend the Operation of Its Pilot Program Regarding Minimum Value Sizes for Opening Transactions in New Series of Flexible Exchange Options; See also SR-NYSEArca-2014-31, SR-Phlx-2014-19
    • Apr 01, 2014: SR-NYSEMKT-2014-21 - Notice of Filing of Proposed Rule Change to Make Permanent Its Pilot Program Regarding Minimum Value Sizes for Opening Transactions in Flexible Exchange Options and Establish New Minimum Value Sizes Applicable to Other FLEX Transactions and FLEX Quotes; See also SR-NYSEArca-2014-25
    • Mar 31, 2014: SR-ISE-2014-18 - Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Amend ISE Rule 623 (“Options Communications”) to Conform with the Rules of the Financial Industry Regulatory Authority Inc.
    • Mar 20, 2014: Regulatory Circular RG14-036 - Updated Extended Trading Hours (ETH) Specifications
    • Mar 20, 2014: SR-ISE-2014-09 - Notice of Filing of Proposed Rule Change Related to Market Maker Risk Parameters
    • Mar 19, 2014: SR-NYSEMKT-2014-20 - Notice of Filing and Immediate Effectiveness of Proposed Rule Change Expanding the Short-Term Option Series Program; See also SR-NYSEArca-2014-24
    • Mar 18, 2014: SR-Phlx-2014-16 - Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Provide that Market Maker Complex Orders Cannot Initiate a Complex Order Live Auction
  • Additional Updates - Equities
    • Apr 04, 2014: SR-CBOE-2014-036 - Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Relating to the End of Trading on CBSX
    • Apr 01, 2014: SR-NYSEMKT-2014-22 - Notice of Filing of Proposed Rule Change Amending Rule 98 - Equities to Adopt a Principles-based Approach to Prohibit the Misuse of Material Nonpublic Information and Make Conforming Changes to Other Exchange Rules
    • Mar 27, 2014: Retirement of FESC Report Cards
    • Mar 24, 2014: SR-NYSEArca-2014-21 - Notice of Filing and Immediate Effectiveness of Proposed Rule Change Amending NYSE Arca Equities Rule 7.44 to Change the Priority of Displayable Odd Lot Interest Within the Recently Approved Retail Liquidity Program 
  • 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 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 15, 2014: Revised Migration Date for New OTC Reporting Facility Technology Platform - FINRA announced that they are delaying the ORF Migration to September 15, 2014 - Issued Mar 25, 2014
      • Sep 30, 2014: SR-FINRA-2013-050 - Trade reporting changes implementation will be no later than September 30, 2014 for the ADF and TRFs - Issued Feb 27, 2014
      • 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
  • Next Meeting Date: Tuesday, May 20th @ 4:00 PM ET