May 22, 2018 - Front Office Meeting Agenda

Meeting Details

  • When: Tuesday May 22, 2018 @ 4:00 PM ET

Meeting Agenda

  • FINRA Updates
    • ORF
      • May 15, 2018: Testing of FINRA Data Feed Test IP Addresses
    • Additional FINRA Updates
      • May 8, 2018: SR-FINRA-2018-017 - Proposed Rule Change to Extend the Implementation Date of Certain Amendments to FINRA Rule 4210 Approved Pursuant to SR-FINRA-2015-036
      • May 3, 2018: Regulatory Notice 18-19 - FINRA Amends Rule 3310 to Conform to FinCEN’s Final Rule on Customer Due Diligence Requirements for Financial Institutions
      • April 30, 2018: Regulatory Notice 18-16 - FINRA Requests Comment on FINRA Rule Amendments Relating to High-Risk Brokers and the Firms That Employ Them.
      • April 24, 2018 :  Regulatory Notice 18-14 - FINRA is conducting a retrospective review of Rule 3110 (Supervision), governing annual compliance meetings to assess its effectiveness and efficiency. This Notice outlines the general retrospective rule review process and seeks responses to several questions related to firms’ experiences with this specific rule.
  • SEC
    • April 30, 2018: 34-83129 - Notice of Filing of a Proposed Rule Change to Amend FINRA Rule 6433 to Adopt the OTC Quotation Tier Pilot as Permanent
    • April 25, 2018: 33-10486 - Amendments to Forms and Schedules to Remove Provision of Certain Personally Identifiable Information
    • April 24, 2018: 34-83098 - Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Extend the Temporary Exception that Permits Aggregate Reporting for Certain ATS Transactions in U.S. Treasury Securities.
  • NMS
    • May 1, 2018: 34-83148 - Order of Summary Abrogation of the Twenty-Third Charges Amendment to the Second Restatement of the CTA Plan and the Fourteenth Charges Amendment to the Restated CQ Plan
    • May 1, 2018: 34-83149 - Order of Summary Abrogation of the Forty-Second 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
  • LTR Phase 3
    • May 22, 2018:  Review of Phase 3 Implementation Date and FIF follow up with the SEC.
  • CAT
    • May 17, 2018:  Statement on CAT PII
    • May 1, 2018:  CAT Operating Committee releases two additional FAQs on the November, 2018 CAT reporting date.
  • FIF Working Group Updates: Please click here to Join Working Groups.
    • Consolidated Audit Trail (CAT)
      • Call for participation for our new FIF CAT Manual Events Subgroup: Contact fifinfo@fif.com if interested
      • May 24, 2018:  FIF will hold CAT Cybersecurity Working Group Meeting
      • May 23, 2018: FIF will hold its next CAT Working Group Meeting
      • May 22, 2018:  FIF held it's introductory call on CAT Manual Orders
      • May 14, 2018:  FIF held a meeting with the CAT Cybersecurity Subgroup
      • May 10, 2018:  FIF/STA/SIFA compiled analysis of OTC Equity Reporting
      • May 9, 2018: FIF holds a CAT Working Group Meeting
      • May 8, 2018: FIF Releases a Statement on the CAT Go Live Date
      • May 4, 2018:  FIF submits a letter to SEC Division of Trading and Markets on projected Technical Specification date.
      • April 20, 2018: FIF/SIFMA/STA held a deep dive discussion with the SROs on Options Pricing.
      • April 17, 2018:  FIF attending meetings with SEC Division of Trading and Markets to discuss the FIF Alternative Implementation Approach
      • March 29, 2018: FIF submitted a comment letter to Thesys CAT on the CAT Industry Member Spec.
      • March 20, 2018:  FIF meeting with SEC Staff and Commissioners to discuss alternative CAT implementation approach.
      • January 9, 2018:  Thesys CAT releases draft of Participant Technical Specification. 
      • September 7, 2017:  Thesys CAT LLC released first draft of Industry Member Technical Specification.
      • CAT NMS Plan Website
    • Mark-Up/Mark-Down WG

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        • May 14, 2018:  Mark-up/Mark-down rule enhancements go live.
        • April 20, 2018:  FIF received indication that the SEC will not accept a conformance period.
        • January 23, 2018:  FIF, SIFMA and the BDA submitted a survey to the SEC addressing industry concerns regarding the readiness of MUMD rule enhancement requirements.
        • January 10, 2018:  FIF, SIFMA, and the BDA distributed survey to assess readiness of firms' MUMD Disclosure Enhancement Requirements.
    • Tick Sized Pilot
      • Decommission of Tick Size Pilot - FIF to submit comment letter to SEC on Tick Size Pilot Sunset Provisions
    • Transaction Fee Pilot Working Group
      • May 15, 2018:  FIF held a Transaction Fee Pilot Working Group Meeting.
      • March 14, 2018: SEC Release No 34-82872 - SEC proposes Transaction Fee Pilot.
    • Cost Basis Working Group
      • June 7, 2018 - Cost Basis Working Group will hold its monthly meeting
    • Cloud Technology Working Group
      • May 10, 2018: FIF held a Cloud Technology Working Group Meeting
    • Data and Technology
      • Next Meeting:  May 30 @ 10:30 am ET.
    • Retail Execution Quality
      • FIF 605 Subgroup has been meeting to discuss proposed changes to SEC Rule 605 Report
    • FIF Cybersecurity Working Group
      • May 31, 2018: FIF will hold its next FIF Cybersecurity Working Group meeting
      • FIF held a working group meeting on April 26, 2018
      • 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
    • May 15, 2018: Nasdaq to Introduce Price Improvement Only Option for Midpoint Extended Life Orders
    • May 14, 2018: 34-83229 - NASDAQ BX - Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Amend the Market Order Spread Protection and Reorganize Rule Chapter VI, Section 18 Entitled, "Order Price Protections"
    • May 14, 2018: 34-83228 - Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Amend the Market Order Spread Protection
    • May 9, 2018: 34-83198 - NASDAQ - Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Memorialize Order and Execution Available to Participants into Chapter VI, Section 19, Entitled Data Feeds
    • May 8, 2018: Nasdaq Updates the Handling of Midpoint and Midpoint Peg Post Only Orders During a Halt
    • May 7, 2018: NYSE Elimination of Approximate Trades and Total Dollar Value
    • May 3, 2018: Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Amend the Certificate of Incorporation of Its Parent Company NYSE Group, Inc
    • May 1, 2018: NYSE Arca Proprietary Data Feed Upgrades
    • May 1, 2018: NYSE Pillar - Web-based Customer Portal
    • May 1, 2018: 34-83143 - CHX - Notice of Designation of a Longer Period on Commission Action on a Proposed Rule Change to Adopt the Route QCT Cross Routing Option
    • April 30, 2018: 34-83134 - Notice of Filing and Immediate Effectiveness of Proposed Rule Change Amending Rule 13
    • April 30, 2018: SR-NASDAQ-2018-037 - A proposal to amend the Market Order Spread Protection and reorganize Rule Chapter VI, Section 18 entitled, Order Protections
    • April 30, 2018: 34-83132 - NASDAQ - Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Amend Rule 4702(b)(5), Rule 4703(d), Rule 4752(d)(2)(B), and Rule 4754(b)(2)(B)
    • April 27, 2018: SR-NASDAQ-2018-035 - A proposal to memorialize its order and execution information into Chapter VI, Section 19, entitled "Data Feeds."
    • April 27, 2018: 34-83125 - NASDAQ Notice of Filing of Amendment No. 2 and Order Granting Accelerated Approval of a Proposed Rule Change, as Modified by Amendment No. 2, to Amend Nasdaq Rule 4703(a) to Allow Members to Designate an Order with a RTFY or SCAN Routing Order Attribute to Activate at 7:00 a.m. ET
    • April 25, 2018: Nasdaq - M-ELO Aggregated Data Published & Market Identification Code (MIC)
    • April 24, 2018: Nasdaq BX Adds Liquidity Code for Midpoint Orders that Receive Price Improvement
  • Additional Updates - Options
    • May 15, 2018: 34-83247 - Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Amend Rule 2.12 to Add References to Cboe Options and C2
    • May 11, 2018: Update: Nasdaq PHLX Intra-day Electronic Quoting Requirements
    • May 10, 2018: Nasdaq Precise Reminds Subscribers of the Availability of 'Done-Away' Order Management 
    • May 10, 2018: 34-83209 - Phlx - Order Granting Approval of Proposed Rule Change To Create a New Rule 1081, To Amend Electronic Market Maker Obligations and Quoting Requirements for Electronic ROTs, Which Will Be Defined To Include SQTs, RSQTs, Directed SQTs, Directed RSQTs, Specialists, and Remote Specialists
    • May 9, 2018: 34-83195 - Phlx - Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to the Zero-Bid Option Series
    • May 8, 2018: Nasdaq PHLX Introduces Price Protections
    • May 4, 2018: PHLX Rule Change to Permit Cabinet Trades in FLEX Options
    • May 4, 2018: 34-83175 - Cboe- Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Extend the Operation of its Flexible Exchange Options Pilot Program
    • May 3, 2018: 34-83163 - BOX - Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Adopt Price Protections for Complex Orders
    • May 3, 2018: 34-83165 - Cboe - Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Renew the Nonstandard Expirations Pilot Program
    • May 3, 2018: 34-83166 - Cboe - Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Extend the Operation of the SPXPM Pilot Program
    • May 3, 2018: 34-83167 - Phlx - Order Approving a Proposed Rule Change Amending Rule 1079, FLEX Index, Equity and Currency Options, and Rule 1059, Accommodation Transactions, to Allow the Closing of Flexible Exchange Options ("FLEX options") in Cabinet Trading
    • May 1, 2018: 34-83141 - Phlx - Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Adopt a New Market Order Spread Protection
    • April 26, 2018: 34-83112 - Cboe - Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Amend Rule 24.6, Days and Hours of Business
    • April 25, 2018: 34-83103 - BOX - Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to update Rule 6090(a)(4)(ii) to note the expiration date of the pilot program for the listing and trading of options settling to the RealVol SPY Index ("Index")
  • Next Meeting Date: Tuesday, June 26 @ 4:00 pm ET.

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Financial Information Forum
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