21 January, 2025
Working Group Updates 1/21/2025
21 January, 2025
- Short Position Reporting. The Working Group discussed test failures based on LEI data. The Working Group discussed the ordering of dates in Table 2 of Form SHO. The Working Group discussed file submission issues. The Working Group discussed the overrideInternetFlag. The Working Group discussed reporting of FIGIs. The Working Group discussed a revised draft FIF letter to the SEC relating to the offsetting of long positions.
- Securities Lending Transparency (SLATE) Working Group. The SLATE Working Group discussed the SEC’s approval of the FINRA rule filing for SLATE and the upcoming implementation requirements.
- OFR Repo Reporting Working Group. The OFR Repo Reporting Working Group reviewed a draft letter to the OFR relating to reporting an overnight or intra-day repo that is entered into on a date that is a U.S. holiday, reporting a repo that is cancelled after the start date, reporting a repo that is cancelled on the same day that it is entered into, and reporting a repo booked in error.
- Options Regulatory Fee Subgroup. The Options Regulatory Fee subgroup discussed recent changes relating to the Options Regulatory Fee.
- FINRA Rule 6470. FIF members participated on a call with FINRA representatives to continue the discussion of the implementation of FINRA Rule 6470.
- Tax Information Reporting Working Group. Representatives from Wolters Kluwer discussed Tax Reporting Considerations for Digital Asset ETFs.
- CAT Monthly Update Working Group Call. 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 Transaction Reporting Working Group. FIF hosted two calls this past week for the CAT Transaction Reporting Working Group. During the first call, Working Group members provided an update on the January 8 FIF call with the SEC on rep order linkage, and the Working Group reviewed a revised draft exemption request on rep order linkage. During the second call, the Working Group discussed expiration of the current exemption for timestamp granularity beyond nanoseconds. The Working Group also discussed a draft FIF response to FINRA CAT relating to the requested termination of Error Code 897 (warning for early reported events) and reporting for route modifications. The Working Group discussed the annual clock synch certification. The Working Group continued its discussion of the draft FIF exemption request relating to rep order linkage.
Eduard Kotlyar