24 June, 2024
Working Group Update 6/24/2024
24 June, 2024
- FIF OFR Repo Reporting Working Group. FIF hosted a call for the OFR Repo Reporting Working Group to review and make final changes to the FIF letter to the Treasury Department’s Office of Financial Research (OFR). The letter requests clarification on various issues and questions relating to the new requirement to report repos that are executed bilaterally and not centrally-cleared (NCCBR repos). FIF submitted the letter to the OFR on June 20.
- FIF Rule 605 Working Group. The Rule 605 Working Group reviewed and made final changes to an FIF letter to the SEC relating to implementation of the changes to Rule 605 that the SEC adopted on March 6.
- FIF Back Office Committee. The Back Office Committee reviewed applicable FICC, DTC, NSCC, SEC, MSRB, OCC, IRS and FINRA updates during the past month. The spotlight presenter was Robert Cavallo from DTCC, who provided an update on the roll-out of T+1.
- FIF Digital Assets Working Group. Shawn Sloves of Fundamental Interactions discussed SEC requirements relating to the trading and settlement of digital assets and practices by market participants to adapt to these requirements. Shawn reviewed various trading and settlement workflows for digital assets and current open issues to be addressed.
- FIF CFTC Large Trader Reporting Subgroup. The CFTC Large Trader Reporting subgroup reviewed and discussed the changes to the CFTC Large Trader Reporting requirements recently adopted by the CFTC. The subgroup reviewed and discussed the CFTC’s adopting release and the Guidebook for Part 17 published by the CFTC, which provides technical specifications for reporting.
- FIF CAT Transaction Reporting Working Group. FIF hosted a call for the CAT Transaction Reporting Working Group to continue the review and discussion of a draft FIF exemptive request letter on linkage of representative orders and IDQS quotes to customer orders and linkage of order fulfillments to representative and principal orders and IDQS quotes. The Working Group discussed exemption requests relating to equities (listed and OTC stocks) and options.
Eduard Kotlyar