August 22, 2017 - FIF Front Office Meeting Agenda

Meeting Details

  • When: Tuesday, August 22, 2017 @ 4:00 PM ET
  • Where: Click here to join the meeting

Meeting Agenda

  • FINRA Updates
    • CAT
      • August 1, 2017: SR-FINRA-2017-020 - Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change to Adopt FINRA Rule 6898 (Consolidated Audit Trail - Fee Dispute Resolution).
      • July 14, 2017: SR-FINRA-2017-013 - Notice of Designation of Longer Period for Commission Action on Proposed Rule Changes to Eliminate Requirements that Will Be Duplicative of CAT.
    • TRACE
      • August 4, 2017: SR-FINRA-2017-021 - Order Approving Proposed Rule Change to Make Available a New TRACE Security Activity Report. 
    • Additional FINRA Updates
      • August 1, 2017:  SIPC and FINRA Streamline Reporting Process for Broker-Dealers
      • July 2017:  Small Firm Cybersecurity Checklist - FINRA created a checklist to assist firms in establishing cybersecurity programs
  • SEC
    • Additional SEC Updates
      • August 8, 2017:  Press Release - SEC Publishes Report on Access to Capital and Market Liquidity
      • July 25, 2017: 34-81199 - Notice of Filing and Immediate Effectiveness of the Twenty-Eight Substantive Amendment to the Second Restatement of the CTA Plan and the Twentieth Amendment to the Restated CQ Plan
  • SROs
    • CAT
      • July 21, 2017: 34-81189 - Order of Summary Abrogation of Amendment No. 2 to the National Market System Plan Governing the Consolidated Audit Trail by SROs.
      • July 19, 2017: Amended Expansion Report.
  • LULD
    • August 14, 2017: LULD Plan Amendment 12 (Reopening after Trading Pause) - Limit Up / Limit Down (LULD) Plan Participants have amended the LULD Plan via LULD Amendment 12 to eliminate the current allowance for a trading center to resume trading in an NMS Stock following a Trading Pause if the Primary Listing Exchange has not reported a Reopening Price within ten minutes after the declaration of a Trading Pause and has not declared a Regulatory Halt
  • Tick Sized Pilot
    • July 31, 2017: SR-NYSENAT-2017-03 - Notice of Filing and Immediate Effectiveness of Proposed Rule Change Amending Rule 11.26 to Modify the Date of Appendix B Website Data Publication Pursuant to the Regulation NMS Plan to Implement a Tick Size Pilot Program
    • July 26, 2017: Exemptive Application Pursuant to Rule 608 of Regulation NMS – NMS Plan to Implement a Tick Size Pilot Program
  • 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)
    • Exchanges
      • August 7, 2017: SR-NYSEArca-2017-82 - Notice of Filing and Immediate Effectiveness of Proposed Rule Change in Connection with the September 5, 2017 Compliance Date for the Shortening of the Standard Settlement Cycle from Three Business Days After the Trade Date to Two Business Days After the Trade Date
      • July 28, 2017: Nasdaq T+2 Shortened Settlement Cycle
      • July 26, 2017: NYSE - Elimination of Non-Regular Way Settlement Instructions
  • Reg SCI
    • July 24, 2017: Reminder: Nasdaq Announces Regulation SCI BC/DR Test Details
  • Other Regulatory Updates
    • August 10, 2017:  DOL Seeks Fiduciary Rule Delay - DOL Recommends delay in Fiduciary Rule compliance date from January 1, 2018 to July 1, 2018
  • FIF Working Group Updates: Please click here to Join Working Groups.
    • Consolidated Audit Trail (CAT)
        • Sept 1, 2017:  Thesys scheduled to release Broker-Deal Technical Spec.
        • August 23, 2017:  FIF will hold a CAT Working Group meeting
        • August 22, 2017:  FIF held joint Allocations/Options Subgroup Meeting
        • August 8, 2017:  FIF's CAT Firm Designated ID Working Group held its last meeting until September
        • 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 with Thesys CAT LLC
        • June 22, 2017:  FIF submitted a Comment Letter on the Retirement of Duplicative Systems
        • CAT NMS Plan Website
      • Tick Sized Pilot WG
        • August 31, 2017:  FINRA will begin reporting B.1, B.II, and B.IV data.
        • 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.
      • Cost Basis Working Group
        • The next Cost Basis Working Group meeting will be held on Thursday, September 14 @ 11:00 am ET.
      • Data & Technology
        • Next Meeting:  August 23, 2017 @ 10:30 am ET
      • Retail Execution Quality
        • FIF to add marketable limits to Retail Execution Quality Statistics 
      • FIF Industry Solutions Offering
        • Visit the FIF Industry Solutions Page for the Latest Products & Services from Fellow FIF Members
      • FIF is launching a Reg SCI/Cybersecutiy Best Practices Group.  For further information, please contact the program office at fifinfo@fif.com.
      • FIF will be holding a quarterly meeting, hosted by Morgan Stanley, on September 25, 2017. The Quarterly meeting will focus on the Consolidated Audit Trail.  FIF will disseminate a formal invitation shortly. 
      • 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
      • August 15, 2017: NYSE Proprietary Market Data - Specification Changes.
      • August 14, 2017: SR-NYSE-2017-17 - Order Granting Approval of Proposed Rule Change to Provide Advance Notice of Dividend or Stock Distribution Announcements to the Exchange.
      • August 9, 2017: SR-NASDAQ-2017-079 - Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Amend the Market Access and Routing Subsidy Program.
      • August 7, 2017: MahWah Datacenter Network Upgrades - Phase 1 Complete.
      • August 4, 2017: NYSE Arca - NYSE Pillar - Phase II Update.
      • August 4, 2017: Updated NYSE IP Address Spreadsheet Available.
      • August 3, 2017: Reminder - NYSE Arca Integrated Feed Update.
      • August 1, 2017: Nasdaq To Implement Enhancements to the Closing Cross Process.
      • July 27, 2017: SR-NYSE-2017-35 - Notice of Filing and Immediate Effectiveness of Proposed Rule Change for Trading UTP Securities on Pillar, the Exchange's New Trading Technology Platform.
      • July 25, 2017: 34-81198 - Notice of Filing and Immediate Effectiveness of the Thirty-Ninth Amendment to the Joint Self-Regulatory Organization Plan Governing the Collection, Consolidation and Dissemination of Quotation and Transaction Information for Nasdaq-Listed Securities Traded on Exchanges on an Unlisted Trading Privileges Basis.
      • July 24, 2017: Nasdaq Updates Specifications to Support New Reject Order Reason
      • July 21, 2017: SR-NASDAQ-2017-073  - Proposal to amend The NASDAQ Options Market LLC Rules at Chapter IV, Section 6, entitled Series of Options Contracts Open for Trading.
      • July 21, 2017: SR-NASDAQ-2017-074  - Proposal to adopt the Midpoint Extended Life Order.
      • July 20, 2017: SR-NASDAQ-2017-070 - Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Amend Qualification Criteria Under the Qualified Market Maker Program at Rule 7014.
      • July 19, 2017: SR-NASDAQ-2017-069 - Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Enhance Anti-Internalization Functionality.
      • July 17, 2017: EXPEDITED CLIENT SUSPENSION PROCEEDINGS ON THE NYSE, NYSE MKT AND NYSE ARCA (COLLECTIVELY, “NYSE EXCHANGES”).

Additional Updates - Options

      • August 10, 2017: Update on Functional Features of Nasdaq MRX on INET
      • August 9, 2017: SR MIAX 2017 39 - Adopt Rules to Permit the Exchange to List and Trade Cash-Settled Index Options on MIAX Options
      • August 9, 2017: Nasdaq MRX INET System Settings
      • August 8, 2017: Nasdaq ISE, GEMX, and MRX Updates Technical Specifications
      • August 2, 2017: Nasdaq MRX Disaster Recovery Connectivity Available
      • August 2, 2017: SR-BOX-2016-48 - Order Approving a Proposed Rule Change, as Modified by Amendment Nos. 1 and 2, to Adopt Rules for an Open-Outcry Trading Floor
      • August 1, 2017: SR MIAX 2017 38 - Amend MIAX Options Rules 521, Nullification and Adjustment of Options Transactions Including Obvious Errors, and 504, Trading Halts
      • July 31, 2017: Nasdaq ISE Introduces Quote Mitigation
      • July 31, 2017: SR-CBOE-2017-056 - Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Amend Rule 6.1, Days and Hours of Business, to Clarify the Trading Hours for Options on Exchange-Traded Funds and Exchange-Traded Notes
      • July 31, 2017: Nasdaq Updates Option Compliance Reports
      • July 28, 2017: SR-BX-2017-034 - Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Amend BX Rules at Chapter IV, Section 6
      • July 28, 2017: SR-Phlx-2017-57 - Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Amend Rule 1012
      • July 28, 2017: Nasdaq ISE and GEMX Update on the Price Improvement Auction Mechanism
      • July 27, 2017: SR-Phlx-2017-34 - Notice of Filing of Proposed Rule Change to Add Functionality to the Options Floor Broker Management System
      • July 27, 2017: Nasdaq Precise Upgrade to version 5.13.2.3
      • July 26, 2017: UPDATED Nasdaq to Migrate PHLX, NOM and BX Test Facilities
      • July 20, 2017: SR-CBOE-2017-044  - Order Granting Approval of Proposed Rule Change Relating to Disaster Recovery
      • July 20, 2017: ISE updates handling of StockLegGiveUp on FIX
      • July 20, 2017:  RG17-104 Quarterly Rebalance of Option Class Tiers and Online Appointment System Reminder
      • July 16, 2017: REMINDER: PHLX Updates the PIXL Auction Duration
    • Next Meeting Date:  Tuesday, September 26, 2017 @ 4:00 PM ET.

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