22 September, 2025
Working Group Updates 9/22/2025
22 September, 2025
- SLATE Working Group. SLATE Working Group members updated the full Working Group on discussions with FINRA relating to SLATE reporting. The Working Group discussed recommendations to the SEC and FINRA on how cumulative end-of-day reporting should be implemented. The Working Group discussed the current actions that firms are taking relating to SLATE implementation in response to the 5th Circuit court decision remanding the securities loan reporting back to the SEC.
- Back Office Committee. The Back Office Committee reviewed applicable FICC, DTC, NSCC, SEC, MSRB, OCC, IRS and FINRA updates during the past month. The spotlight presenter was Ian Springle of ICE, who provided an update on the current status of the ICE Treasury Clearing application. Please find the agenda and spotlight presentation here.
- Section 31 Fees Subgroup. The Section 31 Fees subgroup continued its discussion of enhancing the process for reconciliation of the FINRA Regulatory Transaction Fee (RTF). The subgroup agreed that FIF would prepare a table comparing the TRF reporting fields to the fields available in the FINRA reconciliation report for the RTF. The subgroup also discussed the handling of residual Section 31 fees.
- CAT Transaction Reporting and CAIS Working Groups. FIF hosted a joint call for the CAT Transaction Reporting and CAIS Working Groups. The Working Groups discussed how to report time-in-force values for orders sent to auctions. The Working Groups discussed FINRA’s withdrawal of its CAT cost recovery fee. The Working Groups discussed the plan amendment filed by CAT LLC relating to CAT billing. The Working Groups reviewed the most recent updates to the CAT Billing technical specifications document. The Working Groups discussed CAT reporting for institutional orders that have a notional value and a share quantity.
Eduard Kotlyar