25 August, 2025
Working Group Updates 8/25/2025
25 August, 2025
- SLATE Working Group. The SLATE Working Group discussed reporting the parentFileRecordId, reporting for the first compliance date, the required sequence of records in a SLATE file, and reporting for fields where the Participant Specifications provide a Y value, but not an N value. FIF members provided an update on August 19 FIF member meetings with FINRA, the SEC and the Treasury Department. The Working Group discussed next steps with FINRA and the SEC.
- Odd Lots on the SIPs. FIF hosted a joint call for the Data and Technology Committee and the Equity Market Regulations Working Group. The Working Groups discussed the documentation published by SIAC and the UTP relating to odd-lot data being added to the SIP market data feeds. The Working Groups also discussed the recent filing by the SIPs with the SEC to request a two-year extension of the requirement to include depth-of-book odd-lot quotes from participants on the SIPs.
- Emerging Technologies Working Group. FIF hosted a call for the Emerging Technologies Working Group. The spotlight presenter was Arup Datta of Kyndryl, who discussed Agentic AI.
- 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 a revised draft FIF comment letter to the SEC requesting (i) the retirement of the current requirements relating to unidentified large traders, (ii) the removal of outstanding rejections relating to fields that will no longer be reportable to CAIS, (iii) the removal of outstanding Material Inconsistencies, and (iv) the deletion of TIDs after a CCID has been generated. The Working Groups discussed the recent CAT fee alerts. The Working Groups discussed the recent court decision in the Davidson v. Atkins case. The Working Groups discussed a request to FINRA CAT to document telephone guidance. FIF members provided an update on an August 15 discussion with FINRA CAT representatives
Eduard Kotlyar