19 May, 2025
Working Group Updates 5/19/2025
19 May, 2025
- SLATE Working Group. The SLATE Working Group discussed the requirement for all participants to obtain MPIDs. The Working Group discussed reporting MPIDs and other participant identifiers. The Working Group discussed the requirement to include the file timestamp in the fileRecordId field for each event. The Working Group discussed reporting for settlement events, same-day cancels and forward-start loans.
- Reg NMS Amendments. The Equity Market Regulations Working Group reviewed recent notices and specification updates published by SIAC and UTP relating to testing and implementation of the new round lot sizes.
- Rule 606 Working Group. The Rule 606 Working Group discussed Rule 606(a) reporting for cancelled orders. The Working Group discussed revised draft Rule 606(a) FAQs to submit to the SEC. The Working Group discussed the current status of the Rule 11Ac1-6 FAQs, which preceded the 2018 amendments to Rule 606.
- Direct Reporting for Muni Trades. FIF has created a subgroup to discuss direct reporting of muni trades to the MSRB. The subgroup reviewed an updated draft of an FIF letter to the MSRB to recommend that firms have the option to report trades directly to the MSRB RTRS system as opposed to reporting trades through the RTTM trade-matching system operated by FICC.
- CAIS Working Group. The CAIS Working Group discussed feedback from FINRA CAT relating to the scheduled unavailability of the CAT system from 8 pm on Friday May 16 to 8 pm on Sunday May 18. The Working Group discussed the expunging of account records given that the accounts could have unresolved CAIS errors.
- CAT Transaction Reporting Working Group. The CAT Transaction Reporting Working Group discussed feedback from FINRA CAT relating to the scheduled unavailability of the CAT system from 8 pm on Friday May 16 to 8 pm on Sunday May 18. The Working Group discussed CAT reporting of route modifications that do not change any reportable values other than the routedOrderID and the eventTimestamp. The Working Group discussed feedback from FINRA CAT relating to the fee dispute resolution process. The Working Group continued its discussion of the letter submitted by Nasdaq and Cboe to the SEC with recommendations to reduce CAT costs.
Eduard Kotlyar