18 September, 2023
Working Group Update 9/18/2023
18 September, 2023
- FIF Emerging Technologies Working Group. On September 14 FIF hosted a call for the FIF Emerging Technologies Working Group. The spotlight presenter was Vinu Viswasadhas of Kyndryl, who discussed Mainframe Data Modernization.
- Recent SEC Regulatory Actions. On September 12 FIF hosted a call to review the details of the following recent SEC regulatory actions: (i) a rule change adopted by the SEC on August 23 that will require certain proprietary trading firms that are currently exempt from FINRA membership to become FINRA members; (ii) the August 24 approval of IntelligentCross ATS as a new entrant to the Alternative Display Facility by the SEC’s Division of Trading and Markets, (iii) the SEC’s stay of the approval order on August 25; and (iv) the SEC’s September 1 Order directing the SROs to submit a revised consolidated market data governance plan.
- FIF CAT CAIS Working Group. The CAIS Working Group discussed FIF member plans for complying with the CAIS refresh obligation that will be introduced within a year after the Full CAIS Compliance Date. The Working Group discussed whether members report to CAIS all accounts, accounts that are eligible to trade CAT-reportable securities, or only accounts that have CAT-reportable activity. The Working Group discussed whether members use the inactive functionality available through CAIS. The Working Group continued its review and discussion of the August updates to the CAIS Technical Specifications document.
- FIF CAT Transaction Reporting Working Group. The CAT Transaction Reporting Working Group discussed issues and questions from FIF members relating to granularity for reporting execution prices to CAT and reporting the IDX (Intra-Day Cross) handlingInstructions value. The Working Group reviewed and edited the draft FIF comment letter on the Revised Linkage Timeline rule proposal by the CAT Plan Participants. The Working Group discussed implementation of the SEC’s September 6 Order approving the Executed Share Model.
Eduard Kotlyar