March 28, 2018 - Front Office Meeting Agenda

Meeting Details

  • When: Tuesday March 27, 2018 @ 4:00 PM ET

Meeting Agenda

  • FINRA Updates
    • OATS
      • March 23, 2018:  OATS Reporting Technical Specification - FINRA has released their latest update to the OATS reporting technical specification.  Notes changes occur in Chapter 6 and Appendix A.
      • March 16, 2018:  OATS Secure Transport Upgrade - On April 16, 2018, FINRA will be upgrading Axway Secure Transport in the Production (PD) environment from the current version of 5.1 to version 5.3.
    • ORF
      • March 1, 2018: Reminder - TLS Upgrade and ORF Next Day Dividend
    • TRACE
      • March 7, 2018: Regulatory Notice 18-09 - FINRA Updates Designation Criteria to Require Firms Reporting U.S. Treasury Securities to TRACE to Participate in FINRA’s Business Continuity/Disaster Recovery Testing
    • Additional FINRA Updates
      • March 16, 2018 - FIX Logon Validation - Beginning Monday, April 23, 2018, FINRA will introduce an additional validation for firms that use the FIX protocol for FINRA fixed income (TRACE) and equity (ORF, ADF) products. 
      • March 14, 2018 - Equity Trader Alert 2018-23 - FINRA/Nasdaq TRF - Short Sale Reporting
      • March 6, 2018: FINRA Plans Changes to FIX Trade Reporting Related to Processing of Execution Time
  • CAT
    • March 16, 2018: 34-82892 - Notice of Withdrawal of Amendment No. 4 to the National Market System Plan Governing the Consolidated Audit Trail
    • March 13, 2018: Thesys releases additional interpretative and general FAQs.
    • March 9, 2018: Clock Synchronization Notice to Industry Members
    • March 9, 2018: Clock Synchronization Certification Form
    • March 8, 2018: Participant Technical Specifications v1.6
  • NMS
    • March 15, 2018: 34-82888 - Notice of Filing of the Seventeenth Amendment to the National Market System Plan to Address Extraordinary Market Volatility.
  • SEC:
    • March 15, 2018: 34-82884 - Fixed Income Market Structure Advisory Committee Meeting will e held on April 9, 2018 at 9:30 am.
    • March 14, 2018: 34-82873 - Transaction Fee Pilot for NMS Stocks
  • Tick Size Pilot Decommissioning
    • FIF to discuss with regulators on decommissioning/extension of Tick Size Pilot
  • DOL Fiduciary Rule
    • March 15, 2018 - 5th Circuit Court of Appeals vacates DOL Fiduciary Rule.
  • FIF Working Group Updates: Please click here to Join Working Groups.
    • Consolidated Audit Trail (CAT)
      • March 23, 2018: FIF/SIFMA/STA Held a deep dive discussion with the SROs over Riskless Principal
      • March 21, 2018:  FIF held a CAT Working Group meeting.
      • March 20, 2018:  FIF met with SEC Divsion of Trading and Markets and Commissioners to discuss Alternative Implemenation Approach
      • March 13, 2018: FIF/SIFMA/STA Held a deep dive discussion with the SROs over Manual Quotes
      • March 5, 2018: FIF created Industry Member Tech Spec and Options Pricing subgroups
      • February 21, 2018:  Thesys CAT released the second iteration of the Industry Member Technical Specification
      • February 9, 2018: FIF is holding weekly talks with SIFMA and STA on Riskless Principal, Complex Orders and Manual Quotes.
      • January 10, 2018:  FIF met with SEC to discuss CAT Implementation and areas of concern.
      • January 9, 2018: FIF met with Thesys CAT to discuss CAT Industry Member Technical Specification
      • January 9, 2018:  Thesys CAT releases draft of Participant Technical Specification. 
      • November 29, 2017: FIF submitted a comment letter to SEC and SROs on a New Plan for CAT.
      • September 29, 2017:  FIF submitted a comment letter to the SEC on SRO Retirement Plans.
      • September 25, 2017:  FIF submitted a comment letter to Thesys CAT on Industry Member Specification .
      • September 7, 2017:  Thesys CAT LLC released first draft of Industry Member Technical Specification.
      • CAT NMS Plan Website
    • Transaction Fee Pilot WG
      • March 23, 2018: We held an introductory call on Transaction Fee Pilot
      • If you would like to join the working group, please contact the program office at fifinfo@fif.com.
    • Mark-Up/Mark-Down WG
        • January 23, 2017:  FIF, SIFMA and the BDA submitted a surevey to the SEC addressing industry concerns regarding the readiness of MUMD rule enhancement requirements.
        • January 10, 2017:  FIF, SIFMA, and the BDA distributed survey to assess readiness of firms' MUMD Disclosure Enhancement Requirements.
        • November 13, 2017: FIF met with the SEC, MSRB and FINRA regarding a potential delay in the implementation date of MSRB Rule G-15/G-30 and FINRA Rule 2232.
        • November 6, 2017: FIF held a Mark-Up/Mark-Down Working Group Meeting on Possible Extension of MSRB Rule G-15/G-30 and FINRA Rule 2232 Implementation Date
        • 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
      • April 5, 2018 - Cost Basis Working Group will hold it's monthly meeting
    • Cloud Technology Working Group
      • April 5, 2018: FIF will hold our next Cloud Technology Working Group Meeting
      • If you would like to join the working group, please contact the program office at fifinfo@fif.com.
    • Data and Technology
      • Next Meeting:  March 28 @ 10:30 am ET.
    • Retail Execution Quality
      • FIF to expand Charter of Retail Execution Quality Working Group
    • FIF Cybersecurity Working Group
      • March 29, 2018: FIF will hold its next FIF Cybersecurity Working Group meeting
      • FIF held a working group meeting on March 1, 2018 @ 3:00 PM ET.
      • FIF rebrands Reg SCI working group to incorporate a stronger focus on cybersecurity issues effecting FIF Member Firms.  If you would like to join the working group, please contact the program office at fifinfo@fif.com.
    • FIF Industry Solutions Offering
      • Visit the FIF Industry Solutions Page for the Latest Products & Services from Fellow FIF Members
    • 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
    • March 15, 2018: SR-NSX-2017-03 - Order Approving Proposed Rule Changes to Adopt Consolidated Audit Trail Compliance Rules
    • March 14, 2018: FINRA / Nasdaq TRF – Short Sale Reporting Change
    • March 14, 2018: NASDAQ - 34-82871 - Notice of Designation of a Longer Period for Commission Action on Proceedings to Determine Whether to Approve or Disapprove a Proposed Rule Change, as Modified by Amendment No. 1, to Allow Participants to Designate when an Order with a RTFY or SCAN Routing Order Attribute will be Activated During Pre-Market Hours
    • March 13, 2018: Nasdaq Updates the Handling of Midpoint Peg Post Only Orders
    • March 13, 2018: NYSE Group: Regulation SCI BCP/DR Testing
    • March 9, 2018: NYSE Arca - 34-82851 - Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Amend Rule 5.3-O
    • March 9, 2018: SR-NASDAQ-2018-020 - Proposal to amend Rule 4370 regarding the requirements for the listing of securities that are issued by the Exchange
    • March 8, 2018: NYSE PILLAR Migration Update - Phases III and IV - Tapes B and C Securities and NYSE National
    • March 8, 2018: Nasdaq Receives SEC Approval for Midpoint Extended Life Order & Announces Fee Holiday
    • March 8, 2018: NYSE -  34-82831 - Order Approving Proposed Rule Change to Amend the Complimentary Products and Services Available to Certain Eligible New Listings Pursuant to Section 907.00 of the Exchange's Listed Company Manual
    • March 7, 2018: NASDAQ -  34-82825 - Notice of Filing of Amendment No. 3 and Order Granting Accelerated Approval of a Proposed Rule Change, as Modified by Amendment Nos. 1, 2, and 3, to Adopt the Midpoint Extended Life Order
    • March 6, 2018: 33-10464 - Intercontinental Exchange, Inc.
    • March 6, 2018: BX - 34-82810 - Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Relocate Its Data Feed Offerings
    • March 6, 2018: NASDAQ - 34-82811 - Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Relocate the Nasdaq Options Market LLC Data Feed Offerings
    • March 5, 2018: NYSE - 34-82804 - Order Instituting Proceedings to Determine Whether to Approve or Disapprove a Proposed Rule Change To Amend the Listed Company Manual for Special Purpose Acquisition Companies To Lower the Initial Holders Requirement From 300 to 150 Round Lot Holders and To Eliminate Completely the 300 Public Stockholders Continued Listing Requirement, To Require at Least $5 Million in Net Tangible Assets for Initial and Continued Listing, and To Impose a 30-Day Deadline to Demonstrate Compliance with Certain Initial Listing Requirements Following a Business Combination
    • March 1, 2018: NYSE - 34-82796 - Order Granting Approval of Proposed Rule Change to Amend the NYSE Listed Company Manual to Modify Its Requirements with Respect to Physical Delivery of Proxy Materials to the Exchange
    • February 28, 2018: NASDAQ - 34-82790 - Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Amend Rule 7018(a)
    • February 28, 2018: NASDAQ - 34-82791 - Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Modify IM-5900-7 to Update the Values of, and Permit a Third-Party Provider Selected by Nasdaq to Offer, Certain Complimentary Services Provided to Certain Newly Listing Companies Pursuant to the Rule
  • Additional Updates - Options
    • March 16, 2018: 34-82896 - Order Granting Motion for Extension of Time
    • March 14, 2018: CBOE - 34-82875 - Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Rule 6.56, Compression Forums
    • March 14, 2018: CHX - 34-82870 - Notice of Filing of Proposed Rule Change to Adopt the Route QCT Cross Routing Option
    • March 13, 2018: Phlx - 34-82866 - Notice of Filing of Proposed Rule Change to a Proposal to Amend Rule 1079, FLEX Index, Equity and Currency Options and Rule 1059, Accommodation Transactions
    • March 12, 2018: NYSE Arca - 34-82857 - Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Expand the Short Term Options Series Program
    • March 12, 2018: Nasdaq ISE to Launch NDXP - PM-settled “End of Week Options” on the Nasdaq-100® Index on March 29, 2018
    • March 9, 2018: BOX - 34-82845 - Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Amend Rule 7600(c) to State that the Qualified Open Outcry ("QOO") Order is Subject to the Trade-through Exceptions Outlined in Rule 15010(b)
    • March 8, 2018: SR MIAX 2018 10 - Amend  Rule 307, Interpretations and Policies. 01, Position Limits and  Rule 309, Interpretations and Policies. 01, Exercise Limits to increase the position and exercise limits for options on certain ETFs
    • March 6, 2018: Phlx - 34-82813 - Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Relocate the Exchange's Data Feeds
    • March 6, 2018: RG18-008 Proposed Changes to Market-Maker Continuous Electronic Quoting Obligations
    • March 5, 2018: NYSE American Options: Launch of Complex Cube
    • March 2, 2018: The Nasdaq Options Market Updates System Settings
    • March 1, 2018: NYSE Options: XDP Feed Quote Condition
    • March 1, 2018: 34-82794 - Bats BZX Exchange, Inc.
    • February 27, 2018: UPDATED PHLX and NOM Update SQF and OTTO Specifications 
    • February 26, 2018: Nasdaq Announces Regulation SCI BC/DR Testing
  • Next Meeting Date: Tuesday, April 24 @ 4:00 pm ET.

_________________________________________________________________

Financial Information Forum
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