01 April, 2024
Working Group Update 4/1/2024
01 April, 2024
- FIF Data and Technology Committee. The Data and Technology Committee reviewed capacity, latency and volume data for the prior month for the equity, options, currency, crypto and futures markets. Adrian Griffiths and Geralyn Endo of MEMX provided an update on the launch of the MEMX Options Exchange. Please find the meeting materials here and the full capacity report here.
- FIF Rule 605 Working Group. The Rule 605 Working Group continued its review and discussion of the SEC’s recent amendments to Rule 605.
- FIF Front Office Committee. The Front Office Committee reviewed applicable updates and notices from the SEC, FINRA, FINRA CAT and the equity and option exchanges. Please find this months agenda here.
- FIF CAT CAIS Working Group. The CAIS Working Group discussed countries that do not assign government identifiers to certain trusts and estates. The Working Group discussed a scenario where an FDID that is reported in error to the CAT Transaction Reporting system but not CAIS is corrected or deleted and still generates an error for an FDID not found. The Working Group discussed draft FIF member comments and questions for FINRA CAT relating to the February 29 updates to the CAIS Reporting Scenarios and the requirement to report information that no longer represents the current state of a customer. The Working Group continued its review of the most recent FINRA CAT updates to the CAIS Reporting Scenarios.
- FIF CAT Transaction Reporting Working Group. The CAT Transaction Reporting Working Group reviewed new FAQ E32 relating to handling instructions for auctions. The Working Group reviewed the updates to FAQ K26 relating to the APCL and APCM handling instructions. The Working Group discussed recent feedback from FINRA CAT relating to the ND and SLR handling instructions and how CAT billing would apply to certain options scenarios. FIF notified Working Group members of an upcoming meeting with the SEC, the CAT Plan Participants and FINRA CAT relating to representative order linkage. The Working Group discussed questions about the dispute resolution process for CAT. The Working Group discussed a draft FAQ to be submitted by FIF relating to the reporting of an order modification event when the only CAT-reportable value that changes is the routedOrderID, and possibly the eventTimestamp.
Eduard Kotlyar