14 September, 2026
Working Group Updates 9/14/2026
14 September, 2026
- Rule 605 Working Group. The Rule 605 Working Group discussed reporting of GTC orders received prior to August 1, 2026, reporting for locked markets, timestamp differences between servers, reporting for Cboe KPI options, reporting for directed orders, data sources for the Order Size Benchmark Quantity, and reporting ATS order instructions.
- 24x7 Trading Working Group. The 24x7 Trading Working Group discussed an open issues list for expanded exchange trading hours, including Trade Date and Business Day definitions, the Reg SHO short sale circuit breaker, short sale locates, Rule 10b-10 confirmations, EBS, licensing of personnel, SIP and exchange technical updates, ATS trading, TRF extended hours and CAT reporting. The Working Group reviewed recent SRO rule filings and SEC approvals relating to expanded exchange trading hours.
- FINRA Best Execution Regulatory Notice. FIF hosted a call for the Equity Market Regulations Working Group to discuss a draft FIF comment letter in response to FINRA Regulatory Notice 26-15 on modernizing FINRA’s best execution guidance.
- CAT Transaction Reporting and CAT Reference Database Working Groups. FIF hosted a joint call for the CAT Transaction Reporting and CAT Reference Database Working Groups. The Working Groups discussed issues relating to CAT reporting for expanded exchange trading hours. Working Group members provided an update on recent calls with FIRNA CAT, including updates relating to reporting linkage for the riskless cross scenario, reporting for non-material modifications, reporting for early close scenarios, TRF linkage with CAT, extension of the outstanding linkage error feedback file to 90 days, and the CAT annual business clock assessment.
Eduard Kotlyar