June 27, 2017 - Front Office Committee Meeting Agenda

Meeting Details

  • When: Tuesday, June 27, 2017 @ 4:00 PM ET
  • Where: Click here to join the meeting

Meeting Agenda

  • FINRA
    • CAT
      • June 19, 2017:  SR-FINRA-2017-020 - Proposed Rule Change to Adopt FINRA Rule 6898 (Consolidated Audit Trail - Fee Dispute Resolution).
      • May 15, 2017: SR-FINRA-2017-013 - Proposed Rule Change Relating to Elimination and Modification of Duplicative Rules After Implementation of the Consolidated Audit Trail
    • TRACE
      • June 23, 2017:  SR-FINRA-2017-023 - Proposed rule change to amend FINRA Rule 6730 (Transaction Reporting) to provide a temporary exception to permit member ATSs and member subscribers to report aggregate trade information to TRACE for certain transactions in U.S. Treasury Securities.
      • June 21, 2017:  SR-FINRA-2017-022- Proposed Rule Change to Waive Fees under FINRA Rule 7730.
      • June 19, 2017:  SR-FINRA-2017-021 - Proposed Rule Change to Amend FINRA Rule 7730 to Make Available a New TRACE Security Activity Report.
      • June 12, 2017: SR-FINRA-2017-018 - Proposed Rule Change Relating to the Implementation Date for Trade Modifiers When Reporting Transactions in U.S. Treasury Securities
      • June 1, 2017: TRACE for Treasuries Securities and Participant Data Availability
      • May 26, 2017: TRAQS User Guides for TRACE Trade Reporting of Treasury Securities
      • May 18, 2017: SR-FINRA-2017-015 - Proposed Rule Change to Amend FINRA Rule 7730 to Make Available a New End-of-Day TRACE Transaction File.
      • May 16, 2017: SR-FINRA-2017-012 - Notice of Filing of a Proposed Rule Change to Amend FINRA Rule 7730 to Reduce the Delay Period for the Historic TRACE Data Sets Relating to Corporate and Agency Debt Securities
    • ORF
      • June 15, 2017: Reminder: Testing ORF and ADF Changes for Trade Reporting and T+2 Settlement
      • May 23, 2017: Testing TRACE and ORF CTCI Cancel Validations
    • OATS
      • May 26, 2017: SR-NASDAQ-2017-055 - Proposal to amend the Rule 7000A series relating to the Order Audit Trail System, Rule 8211 and Chapter IX, Section IV relating to Electronic Blue Sheets, Chapter VII, Section VII relating to account identification, and Chapter V, Section VII relating to the Consolidated Options Audit Trail System
      • May 15, 2017: SR-FINRA-2017-013 - Rule change to eliminate the Order Audit Trail System (“OATS”) rules in the FINRA Rule 7400 Series and to amend FINRA’s electronic blue sheet (“EBS”) rules, Rules 8211 and 8213, to reflect changes to these rules once members are effectively reporting to the consolidated audit trail (“CAT”) and the CAT’s accuracy and reliability meet certain standards.
    • Additional FINRA Rule Filings
      • June 14, 2017: SR-FINRA-2017-019 - Proposed Rule Change to Extend the Implementation of FINRA Rule 4240 (Margin Requirements for Credit Default Swaps)
      • June 7, 2017: Regulatory Notice 17-22 - FINRA Adopts Rules on Disruptive Quoting and Trading Activity and Expedited Proceedings
      • May 31, 2017: Regulatory Notice 17-21 - FINRA Revises the Rule 4530 Filing Application Form and the Product and Problem Codes for Reporting Customer Complaints and for Filing Documents Online
      • May 15, 2017: Regulatory Notice 17-20 - FINRA Requests Comment on the Effectiveness and Efficiency of Its Rules on Outside Business Activities and Private Securities Transactions
  • SEC
    • CAT
      • June 14, 2017: 34-80930 - Notice of Filing and Immediate Effectiveness of Amendment No. 2 to the National Market System Plan Governing the Consolidated Audit Trail by SROs.
    • OATS
      • June 12, 2017: SR-NYSEArca-2017-66 - Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Extend the Exchange's Authority to Grant Exemptions from the OATS Requirements 
  • Exchange Updates
    • BATS
      • May 5, 2017:  SR-BatsBZX-2017 - The Exchange proposes to introduce Bats Market Close, a closing match process for non-BZX Listed Securities under new Exchange Rule 11.28.
  • T+2
    • SEC 
      • T+2 Approval Order - In the T+2 Proposing Release, the Commission identified several provisions of Regulation SHO under the Exchange Act that may be impacted by the adoption of a T+2 settlement cycle
  • FIF Working Group Updates: Please click here to Join Working Groups.
    • Consolidated Audit Trail (CAT)
      • June 28, 2017:  FIF's CAT Firm Designated ID Working Group will be holding a meeting
      • June 23, 2017:  FIF held a Cat working group meeting
      • June 22, 2017:  FIF submitted a Comment Letter on the Retirement of Duplicative Systems
      • CAT NMS Plan Website
    • Tick Sized Pilot WG
      • April 5, 2017:  FIF submitted a comment letter on proposed methodology of B.I, B.II, and B.IV data.
      • FIF held a WG call on March 8th to discuss FINRA's proposed masking methodology of B.I, B.II, and B.IV data.
    • Mark-Up/Mark-Down WG
      • June 8, 2017:  FIF submitted FAQs to FINRA and MSRB, which are being considered for incorporation into FAQs released by both regulators.
      • May 18, 2017:  FIF held a working group meeting.
      • March 29, 2017:  FIF held a Mark-Up/Mark-Down working group meeting to discuss various implementation issues.
      • FIF held a joint session with MSRB on March 29th regarding FINRA Rule 2232/MSRB Rule G-15/G-30 (Mark-Up/Mark-Down). The discussion focused on implementation concerns.
    • Cost Basis Working Group
      • The next Cost Basis Working Group meeting will be held on Thursday, July 13th @ 11:00 am ET.
    • FINRA Engagement Initiative 
      • June 19, 2017:  FIF submitted a comment letter in response to FINRA's Engagement Initiative 
    • Data & Technology
      • Next Meeting:  June 21, 2017 @ 10:30 am ET
    • Retail Execution Quality
      • FIF to add marketable limits to Retail Execution Quality Statistics 
    • FIF Industry Solutions Offering
      • FIF will provide member firms with an opportunity to present various product offerings to FIF membership as part of FIF's new Industry Solutions Program.
    • FIF Retail Execution Quality Statistics
    • FIF Regulatory Initiatives Tracking Site - (Requires FIF Website Login)
    • FIF Monthly Reports
      • Market Data Capacity Statistics – (Requires FIF Website Login)
    • Additional Updates - Equities
      • June 8, 2017: SR-NASDAQ-2017-054 - Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Merge the OpenView Depth-of-Book Product into TotalView
      • June 8, 2017: SR-NASDAQ-2017-058 - Proposal to adopt initial and continued listing standards for the listing of Equity Investment Tracking Stocks
      • June 6, 2017: 34-80867 - NYSE Notice of Filing of Proposed Rule Change to Amend its Listing Standards for Closed-end Funds
      • June 2, 2017: SR-NYSEArca-2017-63- Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Extend the Pilot Period for the Exchange's Retail Liquidity Program Until December 31, 2017
      • June 2, 2017: Revised Production Launch Date and Changes to Historical Market Data Products of the NYSE Group Equity Markets
      • May 25, 2017: 34-80777 - Order Approving a Proposed Rule Change, as Modified by Amendment No. 1 Thereto, to Amend Commentary .01 and Commentary.02 to NYSE Arca Equities Rule 5.2(j)(3) to Provide for the Inclusion of Cash in an Index Underlying a Series of Investment Company Units 
      • May 24, 2017: 2017 Regulation Sci BCP/DR Test - Pre-test Connectivity Testing Opportunities
    • Additional Updates - Options
      • June 16, 2017: NYSE Options: Bid/Ask Differentials Effective June 19, 2017 - Sep. 15, 2017
      • June 16, 2017: Nasdaq ISE, Nasdaq GEMX and Nasdaq MRX New Procedures for Obvious and Catastrophic Error Trade Review Requests
      • June 13, 2017: Nasdaq MRX Migration to INET
      • June 9, 2017: RG17-082 Market Maker Equity Reports
      • June 8, 2017: SR MIAX 2017 28 - Proposal to Implement an Equity Rights Program
      • June 6, 2017: ISE and MRX Options Modifies Quote Spread Parameters
      • June 6, 2017: SR MIAX 2017 27 - Amend MIAX Options Rule 406, Long-Term Option Contracts Relating to Long-Term Options Series. This Rule Change Will Become Operative on July 6, 2017
      • June 1, 2017: ISE Disaster Recovery Connectivity Available
      • May 31, 2017: SR-BOX-2017-18 - Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to amend Rule 7260 by extending the Penny Pilot Program through December 31, 2017
      • May 31, 2017: SR-Phlx-2017-40 - Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Amend Openings in Options Rule
      • May 30, 2017: SR-Phlx-2017-43 - Notice of Filing of Proposed Rule Change to Eliminate Requirements That Will Be Duplicative of CAT 
      • May 24, 2017: SR-NASDAQ-2017-049 - Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Extend the Penny Pilot Program
    • Next Meeting Date:  Tuesday, July 25, 2017 @ 4:00 PM ET.