04 March, 2024
Working Group Update 3/4/2024
04 March, 2024
- Presentation by Amazon Web Services on Running an Exchange in the Cloud. FIF hosted a call for the Data and Technology Committee and the Emerging Technologies Working Group. Alex Mirarchi and Mike Perna of Amazon Web Services discussed their recent white paper on Running an Exchange in the Cloud.
- Residential Supervisory Locations Subgroup. FIF hosted a call for this subgroup to discuss the FINRA rule change relating to Residential Supervisory Locations (“RSLs”) and FINRA Regulatory Notice 24-02, which provides implementation details for designating RSLs.
- Front Office Committee. The Front Office Committee reviewed applicable updates and notices from the SEC, FINRA, FINRA CAT and the equity and option exchanges.
- FIF CAT CAIS Working Group. The Working Group discussed CAIS peer groups and the CAIS report card glossary. The Working Group discussed the February 26 CAIS and Transaction Reporting releases, including the re-enabling of Material Inconsistencies.
- FIF CAT Transaction Reporting Working Group. FIF hosted three calls this past week for the CAT Transaction Reporting Working Group. The first call focused on CAT billing and reconciliation. During this call, the Working Group discussed a draft FIF comment letter on CAT billing and reconciliation. The Working Group also discussed CAT billing based on the originating broker instead of the executing broker. During the second Working Group call, the Working Group discussed the applicable handlingInstructions values for “one triggers the other” and “one cancels the other” scenarios. The Working Group discussed a revised draft of an FIF letter to the SEC requesting further guidance on various representative order scenarios. FIF revised and submitted this letter to the SEC. The Working Group reviewed and discussed a draft FIF letter to the SEC requesting extension of the deadlines (i) for the CAT system to communicate errors to CAT reporters, and (ii) for industry members to correct CAT errors. The Working Group discussed a draft FIF letter to the SEC relating to RFQ responses that are not immediately actionable. During the third Working Group call, the Working Group continued its discussion of a draft FIF comment letter on CAT billing and reconciliation.
Eduard Kotlyar