August 19, 2016 Front Office Committee - Meeting Agenda

Meeting Agenda

  • FINRA Updates
      • Limit-Up/Limit-Down
        • Jul 29, 2016 - SR-FINRA 16-28 - Proposed Rule Change to Clarify the Operation of the Regulation NMS Plan to Address Extraordinary Market Volatility.
          • On August 15, 2016, FIF submitted a comment letter responding to FINRA's proposed amendment to Rule 6121.01.
      • TRACE
        • Aug 10, 2016: Reg Notice 16-30 - FINRA reminds firms of their obligation under FINRA Rule 6730 (Transaction Reporting) to accurately enter the “time of execution” for transactions on TRACE trade reports. 
        • Jul 18, 2016: SR-FINRA-2016-027 - Proposed Rule Change Relating to the Reporting of U.S. Treasury Securities to the Trade Reporting and Compliance Engine. 
          • On August 15, 2016, FIF submitted a comment letter responding to FINRA's proposed rule change to expand TRACE reporting rules to include most secondary market transactions in marketable U.S. Treasury securities.
      • FINRA Rule 2232:  
        • SR-FINRA-2016-032 - Proposed Rule Change Relating to FINRA Rule 2232 (Customer Confirmations) to Require Members to Disclose Additional Pricing Information on Retail Customer Confirmations Relating to Transactions in Fixed Income Securities
      • ATS
        • Aug 8, 2016: Reg Notice 16-28 - Effective November 7, 2016, new FINRA Rule 4554 requires alternative trading systems (ATSs) to submit additional order information to FINRA.
      • ORF Technical Notices
        • Aug 8, 2016: Reminder: FINRA MPP Client Connections to Nasdaq Data Center
      • ADF
        • August 11, 2016: SR-FINRA-2016-031 - Proposed Rule Change Relating to Use of the Alternative Display Facility for Trade Reporting Purposes Only
      • EBS
        • Jul 14, 2016:Regulatory Notice 16-24 - FINRA and ISG modify certain electronic blue sheet data elements.
  • SEC Updates:
    • Jul 14, 2016: SEC Release No. 34-78309 - Proposed Amendments of Rules 600 and 606.
  • FIF Working Group Updates - Join Working Group
    • Consolidated Audit Trail (CAT)
      • Jul 18, 2016: Draft: FIF CAT Comment Letter
      • Jul 18, 2016:  Comments on NMS Plan - Repository of CAT Comment Letters
    • Tick Size Pilot
      • Jul 15, 2016:  NYSE Published Tick Size Pilot Tech Specs
        • CCG FIX Spec
        • Binary CCG
        • UGW FIX
        • UGW Binary
      • Jul 19, 2016: ETU 2016-8 - The Nasdaq Stock Market, Nasdaq BX and Nasdaq PSX have posted updated specifications to support the Tick Size Pilot.
      • Jul 12, 2016:Tick Size Pilot Testing Opportunities
      • Jul 2016:Tick Size Pilot Firm Review Files - Tick Size Pilot Statistics to be published Aug 30.  
      • Jun 30, 2016:  Trading and Quoting FAQs - Updated FAQs for Tick Size Pilot-Updated Version Includes Examples of Trade-At Block Size Exceptions.
      • Jun 10, 2016: FINRA FAQ-Statistics and Reporting - FINRA FAQs related to Calculation of Tick Size Pilot Statistics and Reporting.
      • FINRA Tick Size Pilot information available here.
      • Buy-Side Tick Size Pilot Guide available here.
    • Rule 600/606 - Disclosure of Order Handling Working Group
      • FIF has formed an ad hoc working group to discuss concerns related to proposed rule from the SEC affecting the Disclosure of Order Handling Information.  Meetings will be held each Monday and Wednesday until FIF submits a comment letter on Monday, September 26.
        • Next Meeting Date:  August 17 at 1:00 PM.
    • Market Data Technology 
      • Next Meeting Date: Wednesday August 17 at 10:30 AM(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
    • Aug 8, 2016: SR-NYSEMKT-2016-72 - Proposed Rule Change to Amend NYSE MKT Rule 19 – Equities to Specify in Exchange Rules the Exchange’s Use of Data Feeds from IEX for Order Handling and Execution, Order Routing, and Regulatory Compliance.
    • Aug 8, 2016:  NYSEMKT-2016-76 - Proposal to extend the pilot period for the Exchange Retail Liquidity Program
    • Aug 5, 2016: NYSEMKT- 2016-75 - Proposal to amend Rule 9217 to add a provision and related fines addressing trade through violations
  • Additional Updates - Options
    • Aug 12, 2016: Options Trader Alert 2016-26 - Additional information regarding the migration of the ISE options exchanges to Nasdaq’s INET technology. 
    • Jul 15, 2016: NYSEMKT-2016-48 - Notice of Filing of Proposed Rule Change to Amend Certain Rules Related to Flexible Exchange Options.
  • Next Meeting Date:  Tuesday, Sept 20, 2016 @ 4:00 PM ET.