17 August, 2026
Working Group Updates 8/17/2026
17 August, 2026
- Order Protection Rule. This past week FIF hosted three calls for the Equity Market Regulations Working Group to continue discussion of the SEC rule proposal to rescind SEC Rules 611 (Order protection rule) and 610(e) (Locking or crossing quotations). The Working Group discussed a revised draft comment letter, including sections on the following topics: automated and manual quotations; impact on the NBBO; TRF trade modifiers; SIP sale condition codes; LULD; Rule 605; and implementation requirements.
- Short Interest Reporting. FIF hosted a call for the Short Sales / Reg SHO / Short Reporting Working Group to provide an update on FIF member discussions with FINRA relating to the rule filing by FINRA to amend short interest reporting. The Working Group discussed the recent withdrawal of the rule filing by FINRA and FINRA’s plan to resubmit at a future date. The Working Group discussed next steps.
- CAT Monthly Update Working Group Call. The CAT Monthly Update Working Group reviewed guidance and updates from CAT LLC and FINRA CAT during the prior month. The Working Group reviewed the current areas of focus for FIF members and the current open issues relating to CAT reporting.
- 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 the recent letter from SEC Chairman Atkins to CAT LLC relating to the operation and funding of CAT. The Working Groups discussed a revised draft FIF letter to CAT LLC, FINRA and FINRA CAT relating to proposed changes to the tradingSession field in connection with the planned expansion of exchange trading hours.
Eduard Kotlyar