July 24, 2018 - Front Office Meeting Agenda

Meeting Details

  • When: Tuesday July 24, 2018 @ 4:00 PM ET

Meeting Agenda

  • Spotlight Topic - Nasdaq and FINRA will be  presentating on the SEC's recent approval of the FINRA/Nasdaq Chicago TRF.
  • FINRA Updates
    • OATS
      • June 27, 2018: OATS Reporting Technical Specifications  - Incorporating special handling codes purusant to the Dividend Reinvestment Process for Fractional Share Reporting.
    • Additional FINRA Updates
      • July 13, 2018: Information Notice – 7/13/18 - FINRA Warns Firms of Regulator Impersonators.
      • July 6, 2018: Regulatory Notice 18-20 - FINRA Encourages Firms to Notify FINRA if They Engage in Activities Related to Digital Assets.
      • July 5, 2018: FINRA / Nasdaq TRF –Interface Specification Updates.
  • SEC
    • July 18, 2018: 34-83663 - SEC approves Reg ATS N, requiring ATSs to disclose their operations, ATS related activities of the Broker-Dealer operator and its affiliates, and to take safeguards to protect confidential trading information.  
    • June 28, 2018: 33-10515 - The SEC is proposing a new rule under the Investment Company Act of 1940 that would permit  ETFs that satisfy certain conditions to operate without the expense and delay of obtaining an exemptive order.

  • The Options Market Stability Act
    • July 10, 2018: H. R. 5749 - Passing with a unanimous bipartisan vote of 385-0, the act aims to facilitate liquidity in options markets by calling on bank regulators to correct certain risk-insensitive capital requirements
  • MSRB
      • June 27, 2018: Request for Comment on Draft Frequently Asked Questions Regarding Rule G-40 and the Use of Municipal Advisory Client Lists and Case Studies
      • June 20, 2018: MSRB Answers Frequently Asked Questions Regarding MSRB Rule G-42 and Making Recommendations 
  • Tick Size Pilot
    • FIF to submit a comment letter to the Commission requesting notice of Tick Size Pilot decommissioning procedures be dissmeninated to industry members.
  • CAT
    • July 10, 2018:  The SROs released an updated CAT implemenation schedule.  FIF submitted commentson the proposed implementation plan on Tuesday, July 17th. 
    • June 29, 2018: Industry Update on the CAT – Recording

  • FIF Working Group Updates: Please click here to Join Working Groups.
    • Consolidated Audit Trail (CAT)
      • July 26, 2018: FIF will hold a deep dive discussion with the SROs on Manual Events
      • July 18, 2018: FIF held a CAT Working Group Meeting
      • July 19, 2018:  FIF submitted a comment letter to the SROs on the July 10 revised SROs CAT Implementation plan.
      • July 16, 2018:  FIF submitted a comment letter to ThesysCAT raising questions and concerns with V0.3.1 of the Industry Member Tech Spec
      • July 16, 2018:  FIF held an Industry Member Tech Spec Working Group Meeting.
      • July 13, 2018: FIF held a deep dive discussion with the SROs on Riskless Principal
      • June 18, 2018:  FIF forms ad hoc working group to review CAT Spec Version 0.3.1
      • June 18, 2018:  FIF forms ad hoc working group to discuss OMS/EMS linkage issues
      • May 10, 2018:  FIF/STA/SIFA completed analysis of OTC Equity Reporting
      • May 8, 2018: FIF Releases a Statement on the CAT Go Live Date
      • May 4, 2018:  FIF submits a letterto SEC Division of Trading and Markets on projected Technical Specification date.
      • March 20, 2018:  FIF meeting with SEC Staff and Commissioners to discuss alternative CAT implementation approach.
      • CAT NMS Plan Website
    • LTR Phase 3 Retirement 
      • May 31, 2018:  FIF met with SEC Staff to discuss LTR Phase 3 Implementation milestones
    • Transaction Fee Pilot Working Group
      • May 25, 2018:  FIF submitted a comment letter on the Transaction Fee Pilot
      • March 14, 2018: SEC Release No 34-82872 - SEC proposes Transaction Fee Pilot.
    • Cost Basis Working Group
      • July 19, 2018 - Cost Basis Working Group held its monthly meeting. Topics discussed: Comment Letters on Section 451(b) – Income recognition, Retirement of the LIBOR, and the Cryptocurrency Tax Fairness Act
    • Cloud Technology Working Group
      • July 23, 2018: FIF held a Cloud Technology Working Group Meeting
    • Data and Technology
      • Next Meeting:  July 25 @ 10:00 am ET.
    • Retail Execution Quality
      • FIF 605 Subgroup has been meeting to discuss proposed changes to SEC Rule 605 Report
    • FIF Cybersecurity Working Group
      • July 26, 2018: FIF will hold its next FIF Cybersecurity Working Group meeting
      • FIF held a working group meeting on June 28, 2018
    • FIF Industry Solutions Offering
    • 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 6, 2018: NYSE - 34-83601 - Notice of Filing of Proposed Rule Change, as Modified by Amendment No. 1, to Require Certain Member Organizations to Participate in Scheduled Market-Wide Circuit Breaker Testing
    • July 5, 2018: NASDAQ - 34-83595 - Notice of Designation of Longer Period for Commission Action on Proposed Rule Change to Amend Rule 4702(b)(14) to Establish a Price Improvement Only Variation on the Midpoint Extended Life Order
    • July 2, 2018: IP Validation for all Nasdaq BX and PSX OUCH and FLITE Ports to be Enforced
    • July 2, 2018: NYSE NATIONAL & NYSE AMERICAN EQUITIES: REMINDER - MARKET DATA FEED CHANGES
    • June 29, 2018: NASDAQ - Limit Up/Limit Down Exchange Traded Product Tier 1 List Update
    • June 29, 2018: SR-NASDAQ-2018-051 - A proposal to amend The Nasdaq Options Market LLC Rules at Chapter 5
    • June 29, 2018: NYSE - 34-83560 - Notice of Filing of Proposed Rule Change to Provide for the Listing of Exchange Traded Products with No Component NMS Stock Listed on the Exchange, Amend Its Rules Regarding Unlisted Trading Privileges, and Make Corresponding Changes
    • June 28, 2018: NASDAQ BX - 34-83535 - Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Relocate the Exchange's Rules Pertaining to Co-location and Direct Connectivity
    • June 28, 2018: NASDAQ BX - 34-83539 - Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Extend the Pilot Period for the Retail Price Improvement Program Until December 31, 2018
    • June 28, 2018: NYSE Arca - 34-83538 - 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, 2018
    • June 27, 2018: NYSE Arca Reminder Testing Opportunities for ProprietaryData Feed Upgrades
  • Additional Updates - Options
    • July 11, 2018: Nasdaq Precise Mandatory Front End Upgrade
    • July 10, 2018: NOM Introduces a New Order Entry Protocol
    • July 6, 2018: Cboe RG18-022 Rule Filing Submitted to Amend Definition of Strategy Order and Incorporating Exclusion from Strategy Order Cut-Off Time for Bona Fide Market-Making - Process for Submission of Procedures
    • July 5, 2018: Cboe BZX - 34-83594 - Notice of Filing of a Proposed Rule Change to Amend BZX Rule 14.11(c), Index Fund Shares
    • July 5, 2018: Cboe BZX - 34-83596 - Notice of Filing of a Proposed Rule Change to Amend BZX Rule 14.8, General Listings Requirements - Tier I
    • July 3, 2018: Cboe RG18-021 Position and Exercise Limit Increases for Options on Certain Exchange Traded Funds and Resumption of SPY Position and Exercise Limit
    • July 2, 2018: Cboe - 34-83583 - Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Amend Exchange Rule 24.6, Days and Hours of Business Concerning Expiring MSCI EAFE Index Options and MSCI Emerging Markets Index Options
    • July 2, 2018: SR PEARL 2018 15 - Amend Rule 514, Priority on the Exchange, to expand the scope of self-trade protection available on the Exchange
    • June 29, 2018: Cboe BZX - 34-83569 - Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Rule 21.5, Minimum Increments, to Extend the Penny Pilot Program
    • June 28, 2018: Phlx - 34-83547 - Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Amend the Firm Participation Guarantee for a Floor Broker
    • June 28, 2018: SR MIAX 2018 14 - A proposal to list and trade options on the SPIKES Index
    • June 28, 2018: Cboe BZX -  34-83537 - Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Rule 11.9, Orders and Modifiers
    • June 27, 2018: Nasdaq Introduces a Ranking Report for Firms on NOM, ISE, GEMX, and MRX
    • June 26, 2018: SR-CboeEDGA-2018-011 - Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Rule 11.6, Definitions and Rule 11.8, Order Types
    • June 26, 2018: SR MIAX 2018 13 - Amend Rule 602, Appointment of Market Makers, to specify the new method by which LMMs and RMMs request appointments via an Exchange approved electronic interface
  • Next Meeting Date: Tuesday, August 28 @ 4:00 pm ET.

_________________________________________________________________

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

Note: The information contained in this agenda is for FIF member use only. You are hereby notified that any dissemination, distribution or copying of this communication to individuals outside the FIF membership, is strictly prohibited. If you have received this communication in error, please notify the fifinfo@fif.com immediately, and please delete it from your system. Thank you