November 17, 2015 - Front Office Committee Meeting Agenda

Meeting Agenda

• FIX Update - Jim Northey
• Correspondent Clearing Real-Time Processing
  • Oct 19, 2015: A#8100 - Revised Implementation Date for Correspondent Clearing Real-Time Processing
• Large Trader Reporting
  • Nov 6, 2015: FINRA Reg Notice 15-44 - FINRA and ISG Extend Effective Date for Certain Electronic Blue Sheet Data Elements
  • Oct 30, 2015: SEC 34-76322 - Order Exempting Certain Large Traders From the Self-Identification Requirements of Rule 13h-1 Under the Securities Exchange Act of 1934, and Exempting Certain Broker-Dealers From the Recordkeeping, Reporting, and Monitoring Responsibilities Under the Rule
• FINRA/MSRB - Proposal to Require to Require Confirmation Disclosure with Retail Customers
  • Oct 13, 2015: FINRA Reg Notice 15-36 - FINRA Requests Comment on a Revised Proposal Requiring Confirmation Disclosure of Pricing Information in Corporate and Agency Debt Securities Transactions
  • Sept 24, 2015: MSRB 2015-16 - Request for Comment on Draft Rule Amendments to Require Confirmation Disclosure of Mark-ups for Specified Principal Transactions with Retail Customers
  • Next Meeting Date: Thursday, Nov 19th @ 1 PM ET
• NSX Reopening
  • Nov 9, 2015: SR-NSX-2015-05 - Notice of Filing of Proposed Rule Change Amending Rule 11.1, Hours of Trading, To Rescind Interpretations and Policies .01, “Cessation of Trading Operations on NSX;” Adopting Rule 11.25 Relating to Use of Market Data Feeds; Amending NSX Rule 11.13 Relating to the Order Delivery Mode of Order Interaction; Amending NSX Rule 11.11 to Remove Certain Order Types and Correct Technical Deficiencies in the Numbering of Certain Sections of the Rule; and Amending Rule 11.12, Cross Message and Making Conforming Amendments to NSX Rules 11.11(c) and 16.2 
• NYSE Pillar
  • Nov 6, 2015: NYSE Pillar: Phase I Update
  • Oct 26, 2015: SR-NYSEArca-2015-56 - Order Approving Proposed Rule Change, and Notice of Filing and Order Granting Accelerated Approval of Amendment Nos. 1 and 2 thereto, Adopting New Equity Trading Rules Relating to Orders and Modifiers and the Retail Liquidity Program to Reflect the Implementation of Pillar, the Exchange’s New Trading Technology Platform
• Regulation SCI
  • Nov 12, 2015: SR-FINRA-2015-046 - Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to Mandatory Participation in Business Continuity and Disaster Recovery Testing Under Regulation SCI
  • Nov 3, 2015: FINRA Reg Notice 15-43 - FINRA Files Rule With SEC for Authority to Designate Firms for Mandatory Participation in FINRA's Business Continuity/Disaster Recovery Testing, As Required by Regulation SCI
  • Nov 2, 2015: Nasdaq ERA2015-5 - Nasdaq Announces Regulation SCI BC/DR Testing. See also: Nasdaq ORA2015-33
  • Oct 30, 2015: Responses to FAQs Concerning Regulation SCI
  • Oct 30, 2015: CBOE RG15-155 - Designated BCP/DR Participants
• FIF Working Group Updates - Join Working Groups
  • Consolidated Audit Trail (CAT) 
    • Nov 4, 2015: FIF's Meeting Notes From Nov 4th CAT-DAG Call
    • Oct 20, 2015: FIF Letter to SROs & Questions and Recommendations on CAT Error Processing
  • Tick Size Pilot
    • Nov 13, 2015: SR-FINRA-2015-048 - Proposed Rule Change to Adopt FINRA Rule 6191(b) and Amend FINRA Rule 7440 to Implement the Data Collection Requirements of the Regulation NMS Plan to Implement A Tick Size Pilot Program
    • Nov 13, 2015: SR-FINRA-2015-047 - Proposed Rule Change to Adopt FINRA Rule 6191(a) to Implement the Quoting and Trading Requirements of the Regulation NMS Plan to Implement a Tick Size Pilot Program
    • Nov 13, 2015: SR-BATS-2015-102 - BATS Exchange, Inc. Proposes a Rule Change to Adopt Rule 11.27 Regarding the Data Collection Requirements of the Tick Size Pilot Program
    • Nov 6, 2015: SEC 34-76382 - Order Granting Exemption From Compliance With the National Market System Plan to Implement a Tick Size Pilot Program
    • Nov 5, 2015: FIF Comments on SR-NYSE-2015-046
    • Next Meeting Date: Thursday, Nov 19th @ 12 PM ET
• FIF Retail Execution Quality Statistics
• FIF Regulatory Initiatives Tracking Site (Requires FIF Website Login)
• FIF Monthly Reports
  • Market Share Report
  • Market Dynamics Report
  • Market Share Executive Summary
  • Market Dynamics Executive Summary

• Additional Updates - Equities
  • Nov 16, 2015: UTP Vendor Alert #2015-18 - Launch of Investors’ Exchange LLC (IEX) as a New Participant to UTP Plan
  • Nov 12, 2015: SR-NYSEArca-2015-104 - Notice of Filing of Proposed Rule Change to Adopt a New Policy Relating to Trade Reports for Exchange Traded Products
  • Nov 6, 2015: A8113 - UTC Format and Processing Changes for ETMFs
  • Nov 5, 2015: Nasdaq ETA2015-178 - Nasdaq Will Add Good Till Cancel (GTC) Time in Force on LIST Routing Strategy
  • Nov 3, 2015: NYSE AND NYSE MKT: NEW ME ORDER ID
  • Nov 2, 2015: SR-CHX-2015-08 - Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Modify its Smart versus Direct Routing Protocol
  • Oct 29, 2015: SR-FINRA-2015-045 - Proposed Rule Change to Amend FINRA Rule 7640A (Data Products Offered By Nasdaq)
  • Oct 26, 2015: SR-CHX-2015-05 - Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Unify Procedures for the Handling of Resting Orders in a Security Subject to a Trading Halt, Pause, or Suspension on the Exchange
  • How NextShares Will Trade and Clear
  • Oct 26, 2015: Nasdaq ETU2015-19 - Nasdaq Updates FINRA/Nasdaq TRF Specifications for FINRA Proposed Rule Change Relating to Trade Reporting of OTC Transactions in NextShares
• Additional Updates - Options
  • Nov 6, 2015: Nasdaq OTA2015-30 - BX Options Updates the System Settings Page
  • Nov 2, 2015: Nasdaq OTA2015-29 - PHLX Notifies Participants of Issue With Acceptable Trade Range Re-Pricing and Execution
  • Nov 2, 2015: Nasdaq OTA2015-28 - BX Options Introduces Price Improvement Mechanism (PRISM)
  • Oct 29, 2015: SR-EDGX-2015-52 - Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Rule 21.8, Order Display and Book Processing
  • Oct 22, 2015: SR-BOX-2015-34 - Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Amend Interpretive Material 1 to Rule 7170 to Extend the Pilot Program That Suspends Certain Obvious Error Provisions During Limit Up-Limit Down States in Securities That Underlie Options Traded on the Exchange
  • Oct 22, 2015: Nasdaq OTA2015-26 - BX Options Introduces Order Exposure Alerts
  • Oct 21, 2015: Nasdaq OTU2015-10 - BX Options to Cease Support of Post-Only Orders and Price Improving Orders and Quotes
  • Oct 19, 2015: Nasdaq OTA2015-25 - PHLX Changes Minimum Quote Size Requirement in VRX