03 July, 2023
Working Group Update 7/3/2023
03 July, 2023
- 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. The spotlight presenter was Adrian Griffiths of MEMX, who discussed the launch of the new MEMX options exchange. Please find the meeting materials here and the full capacity report here.
- Front Office Committee. The Front Office Committee reviewed applicable updates and notices from the SEC, FINRA, FINRA CAT and the equity and option exchanges. The spotlight presenter was Michael Soderberg of AlphaSense, who discussed the use of AI for market research. Please find the agenda here.
- FIF CAT CAIS Working Group. The CAIS Working Group discussed the FIF member call with the SEC staff on the retirement of legacy reporting rules and systems. The Working Group reviewed updates to FAQ Q67 on the requirement for firms to report an address for every CAT Customer. The Working Group reviewed draft FIF member comments and questions for FINRA CAT on reloading of historical CAIS data. FIF members submitted these comments and questions to FINRA CAT.
- FIF CAT Transaction Reporting Working Group. The CAT Transaction Reporting Working Group discussed the FIF member call with the SEC staff on the retirement of legacy reporting rules and systems. The Working Group discussed the current temporary CAT exemptions. The Working Group discussed planned updates to the CAT Technical Specifications recently posted by FINRA CAT. The Working Group discussed proposed changes to the CAT Technical Specifications and Reporting Scenarios documents relating to CAT reporting for RFQ responses. FIF submitted these proposed changes to FINRA CAT. The Working Group discussed the retirement of legacy TRF reporting requirements. The Working Group discussed the TMO handlingInstructions value (Time Managed Order) and CAT reporting for an Order Cancels Order scenario (where the execution of an order results in the cancel of another order).
Eduard Kotlyar