January 17, 2017 Front Office Agenda

Meeting Agenda

  • FINRA Updates 

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    • TRACE
      • Jan 26, 2017:  FINRA will be holding a phone-in workshop to discuss the rules requirements and implementation considerations.  Please click here to register.
        • If your firm has any specific questions that you would like included in FINRA's TRACE for Treasuries workshop, please forward to fifinfo@fif.com by Friday, January 20th at 3:00 pm.  
      • Jan 3, 2017:  TRACE for Treasury Securities Specifications– FINRA has updated the TRACE Technical Specifications for Treasury Securities to reflect a rule filling that includes a change to the definition of a “When-Issued Transaction.”
    • Electronic Blue Sheets
      • December 30, 2016:  Regulatory Notice 16-24 - FINRA and ISG Modify Certain Electronic Blue Sheets Data Elements.
    • 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.
  • MSRB Updates
    • Jan 12, 2017:  Webinar - MSRB staff held a webinar discussing key new provisions of MSRB Rule G-15 on confirmation, clearance, settlement and other uniform practice requirements with respect to retail customer transactions and MSRB Rule G-30 on prices and commissions related to disclosure of mark-ups and mark-downs on customer confirmations.
  • Exchange Updates
    • NASDAQ 5710
  • FIF Working Group Updates: Please click here to Join Working Groups.
    • FIF Working Group Updates: Please click here to Join Working Groups.
      • Consolidated Audit Trail (CAT)
        • Jan 18, 2017:  FIF will be held a CAT working group meeting to discuss the selection of the Planned Processor and next steps related to the CAT implementation stage.
        • Dec 21, 2016:  FIF submitted a letter to the CAT Participants offering FIF's assistance in achiving the various implementation milestones.
        • CAT NMS Plan Website
      • ATS
        • Jan 13, 2017:  FIF held an ATS working group meeting with FINRA to discuss implementation issues related to the inclusion of sequencing numbers pursuant to FINRA Rule 4554.
      • Tick Size Pilot Working Group
        • December 21, 2016:  FIF submitted a comment letter to FINRA expressing FIF members' concerns regarding the publication of B.I and B.II Data (Disaggregated Data).
      • Cost Basis Working Group
        • Next Meeting:  February 2, 2017
      • Data & Technology
        • Next Meeting:  February 15, 2017 @ 10:30.
    • FIF Retail Execution Quality Statistics
    • FIF Regulatory Initiatives Tracking Site - (Requires FIF Website Login)
    • FIF Monthly Reports 
      • Market Data Capacity Statistics 
    • Additional Updates - Equities
      • Jan 9, 2017:  SR-NYSEMKT-2017-01 - Proposes new rules to transition trading on the Exchange to Pillar.
      • Jan 4, 2017: Amendments to Rule 15  - NYSE and NYSE MKT Rule 15 requires Designated Market Makers (“DMMs”) to publish pre-opening indications before a security opens if the opening transaction on the Exchange is anticipated to be at a price that represents a change of more than the “Applicable Price Range” from a specified “Reference Price” before the security opens.
      • Dec 23, 2017:  SR-NSX-2016-16 - Notice of Filing of Proposed Rule Change in Connection with the Proposed Acquisition of the Exchange by NYSE Group, Inc.
      • Dec 22, 2016:  SR-NASDAQ-2016-183  - Proposed rule change to amend NASDAQ Rules to shorten the standard settlement cycle for most broker dealer transactions from three business days after the trade to two business days after the trade.
      • Dec 21, 2016:  SR-NASDAQ-2016-179  - Notice of filing and immediate effectiveness of proposed rule change to delay the implementation of the Limit Order Protection.  
      • Dec 21, 2016:  SR-FINRA-2016-047 - Notice of filing of a proposed rule change to amend FINRA rules to conform to the commission’s proposed amendment to commission Rule 15c6-1(a) and the industry-led initiative to shorten the standard settlement cycle for most broker-dealer transactions from T+3 to T+2.
      • Dec 20, 2016:  SR-CHX-2016-16 - Order Instituting Proceedings to Determine Whether to Approve or Disapprove a Proposed Rule Change to Adopt the CHX Liquidity Taking Access Delay.
    • Additional Updates - Options
      • Jan 3, 2017:  SR-NYSEArca-2016-143 - Order approving proposed rule change, as modified by Amendment No. 1 thereto, introducing NYSE Optx.
      • Dec 30, 2016: SR-CBOE-2016-080 Amendment 1  - Proposal regarding complex orders consisting of SPX Options Series and SPXW Options Series
      • Dec 29, 2016:   RG16-205-2017 - CBOE will be incorporating a new "Adjustment Table" for all Market-Maker Transactions fees in all multiply listed options classes, effective January 3, 2017.
      • Dec 28, 2016:  SR-NASDAQ-2017-001 - Proposal to implement a new incentive for NOM participants that add liquidity for consumer and professional orders in Penny and Non-Penny Pilot Options
      • Dec 21, 2016: SR-BOX-2016-59 - Notice of filing and immediate effectiveness of proposed rule changes to adopt Rule 3220, distruptive quoting and trading activity prohibited and Rule 12160, expedited suspension proceeding.
      • Dec 20, 2016:  SR-BOX-2016-50 - Notice of designation of longer period for commission action on proposed rule change to amend rule 5050 series of options contracts open for trading to provide for the listing and trading on the Exchange of RealDayTM Options pursuant to a pilot program.
      • Dec 20, 2016: SR-CBOE-2016-093 - Proposal to extend the Cabinet Trade Pilot until March 5, 2018. 
      • Dec 16, 2016: SR-CBOE-2016-091 - Proposal to Transition the SPXPM Options Class into the SPX Options Class Under the SPXW Symbol.
    • Next Meeting Date:  Tuesday, Feb 21, 2017 @ 4:00 PM ET.