December 20, 2016 Front Office Agenda

Meeting Agenda

  • FINRA Updates 
    • TRF
      • Dec 5, 2016:  Trade Reporting Notice 120516 - FINRA interprets the “as soon as practicable” requirement under FINRA trade reporting rules to require that firms release information relating to over-the-counter (OTC) transactions in NMS stocks to other market participants no sooner than they release such information to a FINRA trade reporting facility for dissemination (or “tape”) purposes.
    • TRACE
      • Dec 15, 2016:  TRACE Web API Specs - Web API Specifications for the TRACE Corporate Agency Debt File Downloads.
      • Dec 14, 2016:  SR-FINRA-2016-046 - Proposed rule change to amend FINRA Rule 6710 to clarify the definitions of “Auction Transaction” and “When-Issued Transaction” for the purposes of reporting transactions in U.S. Treasury Securities to the TRACE.
    • ATS
      • Dec 8, 2016:  SR-FINRA-2016-045 - Proposed rule change to amend Rule 4554 to require alternative trading systems (“ATSs”) to submit additional order information to FINRA
    • FINRA Rule 2232
      • Nov 17, 2016: SR-FINRA-2016-032 - Order Granting Accelerated Approval of a Proposed Rule Change, as Modified by Amendment No. 1, Relating to FINRA Rule 2232 (Customer Confirmations) to Require Members to Disclose Additional Pricing Information on Retail Customer Confirmations Relating to Transactions in Certain Fixed Income Securities.
    • FINRA Rule 5210
      • Nov 15, 2016:  SR-FINRA-2016-043 - Proposed rule change to (i) adopt new Supplementary Material to Rule 5210 to address two specific types of disruptive quoting and trading activity.
  • Exchange Updates
    • MIAX
      • Dec 14, 2016:  MIAX Pearl Testing Dates 
    • BOX
      • Nov 29, 2016:  SR-BOX-2016-48 - Proposed Rule Change to Adopt Rules for an Open-Outcry Trading Floor.
  • FIF Working Group Updates: Please click here to Join Working Groups.
    • Consolidated Audit Trail (CAT)
      • Nov 30, 2016:  FIF held a working group meeting on Wednesday, Nov 30, 2016 to address the concerns related to the SEC's final rule filing.  To view FIF's discussion document on changes in the rule and potential next steps, please click here.
        • Next Meeting Date:  Wednesday, January 18 at 3:00 PM
      • Nov 15, 2016: The Commission approved the proposed national market system ("NMS") plan to create, implement, and maintain a consolidated audit trail, submitted pursuant to Rule 613 of Regulation NMS.
      • CAT NMS Plan Website
    • Tick Size Pilot Working Group
      • Dec 21, 2016:  FIF plans to submit a Comment Letter regarding concerns over the publication of disaggregated data.  FIF encourages member firms to speak directly with Commission staff to express you concerns and provide specific examples of the ways in which publication of this data could cause harm to your firm and investors.
      Data and Technology
      • Next Meeting Date:  Wednesday, Dec 21 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
      • Dec 14, 2016:  IC-16-165 - NSX to Continue Trading Operations – Rule Filing to Cease Trading Withdrawn.
      • Dec 13, 2016:  ETA-2016-324 - Nasdaq Tick Size Pilot Program Update.
      • Dec 13, 2016:  SR-NASDAQ-2016-171 - A proposal to amend Rule 4770 (Compliance with Regulation NMS Plan to Implement a Tick Size Pilot).
      • Dec 8, 2016:  NYSE-MKT-16-10 - NYSE and ISG members modify certain EBS data elements.
      • Dec 6, 2016: SR-CHX-2016-20 - Notice of Filing of Proposed Rule Change in Connection with the Proposed Transaction involving CHX Holdings, Inc. and North America Casin Holdings, Inc.
      • Dec 5, 2016: Trader Update - DTCC Bond Changes Notice - Changes To The DTCC UTP Output File For NYSE Bonds.
    • Additional Updates - Options
      • Dec 14, 2016:  SR-CBOE-2016-089 - Proposal to renew the Credit Options Margin Pilot.
      • Dec 9, 2016:  SR-CBOE-2016-  Order Granting Accelerated Approval of a Proposed Rule Change, as Modified by Amendment No. 1, Relating to Opening and Closing Rotations Under the HOSS System.
      • Dec 7, 2016:  ORA 2016-39 - Nasdaq/ISE announces Reg SCI/BC/DR Testing.
      • Nov 22, 2016: SR-PHLX-2016-116 -  Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Amend the Allocation of Directed Complex Orders. 
      • Nov 21, 2016:  MIAX RC-2016-059 - The Exchange has adopted new MIAX Rule 322, Disruptive Quoting and Trading Activity Prohibited, to clearly prohibit disruptive quoting and trading on the Exchange.
      • Nov 21, 2016:  OTU-2016-12 - ISE/Nasdaq Technology Migration Notice.
    • Next Meeting Date:  Tuesday, Jan 17, 2016 @ 4:00 PM ET.

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