14 July, 2025
Working Group Updates 7/14/2025
14 July, 2025
- SLATE Working Group. The SLATE Working Group completed its discussion of the June 27 updates to the SLATE Participant Specifications. The Working Group discussed reporting the fileRecordId field, reporting the sourceOfLoan field, reporting for matured securities, reporting of intermediary activity, the definition of fully-paid securities, the SLATE security list, reporting the fee and rebate fields for the new collateral type values, and SLATE feedback.
- 24x7 Trading Working Group. The 24x7 Trading Working Group continued its discussion of a draft FIF letter to the SEC relating to extended exchange trading hours, including SIP changes, the settlement cycle for evening trades, extended hours operation of the TRF and ORF, erroneous trade bands, the clearly erroneous trade process, market surveillance, conduct of supervision outside the US, and regulatory reporting.
- CAT Monthly Update Working Group. The CAT Monthly Update Working Group reviewed guidance and updates from the CAT Plan Participants and FINRA CAT on CAT Transaction Reporting, CAT CAIS and CAT billing during the prior month. The Working Group reviewed the current areas of focus for FIF members and the current open issues for CAT Transaction Reporting, CAT CAIS reporting and CAT billing.
- CAT PII and EBS. During this past week, FIF hosted three joint calls for the CAT CAIS, CAT Transaction Reporting and EBS Working Groups to discuss the continue the discussion of the removal of PII from CAT and the retirement and replacement of EBS. The Working Group discussed a draft FIF comment letter to the SEC in response to the rule filing by the CAT Plan Participants to remove PII from CAIS.
- CAT Transaction Reporting Working Group. The CAT Transaction Reporting Working Group discussed a draft FIF comment letter to the SEC on the rule filing by FINRA to amend FINRA’s cost recovery fee for CAT. FIF submitted this comment letter. The Working Group discussed draft FIF member comments and questions for CAT LLC and FINRA CAT relating to FOK orders, FAQs that reference CAT phases, and CAT reporting for Rule 15a-6 transactions. FIF submitted these comments to FINRA CAT. The Working Group continued its discussion of proposals to reduce CAT costs.
Eduard Kotlyar