21 July, 2025
Working Group Updates 7/21/2025
21 July, 2025
- SLATE Working Group. The SLATE Working Group discussed FINRA’s assignment of MPIDs, allowing firms to report based on LEIs instead of MPIDs, reporting when there is a change in the clientUniqueLoanId, and reporting scenarios where a New Loan Event is rejected.
- 24x7 Trading Working Group. The 24x7 Trading Working Group discussed a recent rule filing by FINRA to extend the hours of operation of the TRFs in connection with the expansion of exchange trading hours. The Working Group continued its discussion of a draft FIF letter to the SEC relating to extended exchange trading hours, including off-exchange trading, trading for OTC stocks, TRF and ORF reporting changes, the clearly erroneous trade process, Regulation SHO, and defining “regular way” settlement.
- Rule 605 and Rule 606 Working Groups. FIF hosted a joint call for the Rule 605 and Rule 606 Working Groups. The Working Groups discussed Rule 605 reporting for a stop order managed by a wholesaler or other downstream broker-dealer, Rule 605 reporting of the average executed over quoted spread, and Rule 606(a) reporting for FLEX and FLEX Percent option orders.
- Back Office Committee. The Back Office Committee reviewed applicable FICC, DTC, NSCC, SEC, MSRB, OCC, IRS and FINRA updates during the past month. Please find the agenda here.
- Electronic Blue Sheets Working Group. The EBS Working Group discussed a draft FIF comment letter to the SEC in response to a request for comment by the SEC relating to the extension of SEC Rule 17a-25 and EBS.
- CAT Transaction Reporting Working Group. The CAT Transaction Reporting Working Group discussed a revised draft of the FIF request for a permanent exemption relating to representative order linkage.
Eduard Kotlyar