July 25, 2017 - FIF Front Office Meeting Agenda

Meeting Details

  • When: Tuesday, July 25, 2017 @ 4:00 PM ET
  • Where: Click here to join the meeting

Meeting Agenda

  • FINRA Updates
    • Mark-Up/Mark-Down
      • July 12, 2017: FINRA Rule 2232 FAQs - FINRA Issues Guidance on the Enhanced Confirmation Disclosure Requirements in Rule 2232 for Corporate and Agency Debt Securities.
      • July 12, 2017:  Reg-Notice-17-24 - FINRA has issued FAQs relating to enhanced confirmation disclosure requirements for corporate and agency debt securities pursuant to FINRA Rule 2232. 
    • CAT
      • July 14, 2017: 34-81145 - Notice of Designation of Longer Period for Commission Action on Proposed Rule Changes to Eliminate Requirements that Will Be Duplicative of CAT.
      • June 29, 2017: 34-81053 - Notice of Filing of a Proposed Rule Change to Adopt FINRA Rule 6898 (Consolidated Audit Trail - Fee Dispute Resolution).
    • Cybersecurity Initiative
      • June 27, 2017:  Second part of a three-part series on common cybersecurity program deficiencies
    • TRACE
      • July 11, 2017: 34-81114 - Order Granting Approval of Proposed Rule Change to Make Available a New End-of-Day TRACE Transaction File.
      • July 11, 2017: Regulatory Notice 17-23 - SEC Approves Rule Change to Reduce the Delay Period for the Corporate and Agency Debt Historic TRACE Data Sets.
      • July 6, 2017: Reminder: TRACE for Treasuries Securities Reference Data.
      • June 29, 2017: Reminder: TRACE Trade Reporting of Treasury Securities.
      • June 26, 2017: 34-81018 - Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to Reporting of Certain ATS Transactions in U.S. Treasury Securities.
      • June 23, 2017: SR-FINRA-2017-023 - Proposed Rule Change to amend FINRA Rule 6730 (Transaction Reporting) to Provide a Temporary Exception to Permit Aggregate Reporting for Certain ATS Transactions in U.S. Treasury Securities.
      • June 23, 2017: 34-81009 - Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Waive Certain TRACE Reporting Fees.
      • June 23, 2017: 34-81007 - Notice of Filing of a Proposed Rule Change to Amend FINRA Rule 7730 to Make Available a New TRACE Security Activity Report.
      • June 23, 2017: SR-FINRA-2017-023 - Rule change to amend FINRA Rule 6730 (Transaction Reporting) to provide a temporary exception to permit member alternative trading systems (“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 - Rule Change to Amend FINRA Rule 7730 to Make Available a New TRACE Security Activity Report.
    • FINRA Entitlement Program
      • July, 2017:  Prohibited Words List - Effective July 29, 2017, the terms listed on this page will be prohibited when creating or changing passwords for users of FINRA Systems.
    • Additional FINRA Rule Filings
      • June 27, 2017: 34-81035 - Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Extend the Implementation of FINRA Rule 4240 (Margin Requirements for Credit Default Swaps).
  • SEC
    • CAT
      • June 30, 2017:  34-81067- Suspension of and Order instituting proceedings to determine whether to approve or disapprove proposed rule changes to establish fees for industry members to fund the 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.
  • SROs
    • CAT
      • July 14, 2017: 34-81145 - Notice of Designation of Longer Period for Commission Action on Proposed Rule Changes to Eliminate Requirements that Will Be Duplicative of CAT
      • July 6, 2017: New Participant Technical Specification v1.3
    • CBOE/BATS C2 Intigration
      • Plan/TimelinePlan/Timeline
  • T+2
    • FINRA
      • June 27, 2017: FINRA/NYSE TRF - T+2 Settlement Testing - Action Required
    • SEC 
      • July 11, 2017: NYSE, NYSE MKT, NYSE Arca: Changes Related to the Shortened Settlement Cycle (T+2)
  • FIF Working Group Updates: Please click here to Join Working Groups.
    • Consolidated Audit Trail (CAT)
      • July 31, 2017:  FIF will be launching subgroups focused on issued related to allocations and options.
      • July 27, 2017:  FIF's CAT Firm Designated ID Working Group will be holding a meeting
      • July 19, 2017:  FIF held a CAT working group meeting
      • July 13, 2017:  FIF participated in Industry Outreach Meeting with Thesys CAT LLC.
      • July 7, 2017: FIF/SIFMA/STA held a joint industry outreach call
      • 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
        • July 12, 2017:  MSRB released FAQs/Guidance on confirms and PMP Calculation 
        • July 12, 2017:  FINRA released FAQs on rule enhancements to Fixed Income Confirmation Disclosures.
        • 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, August 3rd @ 11:00 am ET.
        • The spotlight topic of this meeting will be: IRC SS 1.6045-1 f(12) Certain Debt Instruments Treated as Noncovered Securities
      • FINRA Engagement Initiative 
        • June 19, 2017:  FIF submitted a comment letter in response to FINRA's Engagement Initiative 
      • Data & Technology
        • Next Meeting:  July 26, 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
      • July 13, 2017: 34-81138 - Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Amend Rule 7018
      • July 13, 2017: 34-81142 - Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Amend NYSE Arca Equities Rule 7.38 to Specify the Ranking of an Odd Lot Order that has a Display Price that is Better than its Working Price
      • July 11, 2017: 34-81121 - Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Amend the Customer and Professional Penny Pilot Options Tier 8 Rebate to Add Liquidity
      • July 11, 2017: 34-81120 - Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Amend Nasdaq Rule 5705(b) to Provide for the Inclusion of Cash in an Index or Portfolio Underlying a Series of Index Fund Shares
      • July 11, 2017: Reminder of Changes to Historical Market Data Products
      • July 11, 2017: 34-81115 - Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Amend Exchange Rules to Eliminate ALO and Day ISO Orders and Related Functionality, Provide That All Pegged Orders Would Be Non-Displayed Orders, Change References From "NYSE MKT" to "NYSE American," and Add the Definition of "NYSE American Marketplace"
      • June 30, 2017: SR-NASDAQ-2017-067 - Proposal to modify the NASDAQ Options Market LLC's pricing at Chapter XV, Section 2(1), to amend the Customer and Professional Penny Pilot Options Tier 8 Rebate to Add Liquidity
      • June 30, 2017: 34-81061 - Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Specify in Exchange Rules the Exchange's Primary and Secondary Sources of Data Feeds from NYSE MKT LLC
      • June 29, 2017: SR-NASDAQ-2017-063 - Proposal to extend for another twelve (12) month time period the pilot program to eliminate position limits for options on the SPDR® S&P 500® exchange-traded fund, which list and trade under the symbol SPY
      • June 26, 2017: NYSE American Launch - Market Access Rule Credit Limits (SEC Rule 14C3-5)
      • June 23, 2017: Changes to Ex-dividend Procedures Effective September 5, 2017 to Accommodate T+2
    • Additional Updates - Options
      • July 13, 2017: 34-81137 - BatsEDGX - Notice of Filing of a Proposed Rule Change to Adopt New Rules That Describe the Trading of Complex Orders on the Exchange for the Exchange's Equity Options Platform
      • July 13, 2017: SR MIAX 2017 34 - Amend MIAX Options Rules 515A, MIAX Price Improvement Mechanism("PRIME") and PRIME Solicitaion Mechanism, 518, Complex Orders, and 519A, Risk Protection Monitor, Relating to Trade and Price Protections for the New Complex Order Types
      • July 13, 2017: ISE Updates Default Security Type Value on FIX Drop Interface
      • July 11, 2017: Decommission of Directed Orders on Nasdaq MRX
      • July 6, 2017: 34-81085 - CBOE - Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Rule 6.47A, Automated Improvement Mechanism
      • July 5, 2017: NYSE Amex Options: Rebrand to NYSE American Options
      • June 28, 2017: SR MIAX 2017 32 - Amend MIAX Options Rule 524, Reporting of Matched Trades to Clearing Corporations, to Adopt Interpretations and Policies .01 Relating to Post-Trade Adjustements
      • June 26, 2017: 34-81017 - CBOE - Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Extend a Pilot Program that Eliminates Position and Exercise Limits for Physically-Settled SPDR S&P 500 ETF Trust ("SPY") Options
      • June 23, 2017: RG17-085 Prearranged Trades
    • Next Meeting Date:  Tuesday, August 22, 2017 @ 4:00 PM ET.

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Financial Information Forum
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Phone: +1 212 422 8568
Fax: +1 212 422 8570
FIF URL: www.fif.com