27 February, 2023
Working Group Update 2/27/2023
27 February, 2023
- OFR Proposal on Reporting for Bilateral Repos. The OFR Repo Reporting Working Group and the TRACE/Fixed Income Working Group continued the review and discussion of a draft FIF comment letter on a recent proposal by the Treasury Department’s Office of Financial Research to require daily reporting for non-centrally cleared bilateral repos.
- FIF Rule 605 Working Group. The Rule 605 Working Group continued its discussion of the SEC’s recent rule proposal on Disclosure of Order Execution Information, with a focus on reporting E/Q for the summary execution report, reporting for segmented orders, reporting for stop orders and reporting size improvement.
- Call on Processing trade reimbursements and adjustments. At the request of FIF members, FIF hosted a call for FIF members to discuss the processing of trade reimbursements and adjustments received from market makers and exchanges as a result of the opening-auction system issues that occurred on January 24. The participants discussed trade processing, reporting and compliance issues.
- 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 of DTCC, who discussed the T+1 testing framework published by DTCC.
- 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. Please find the meeting materials here and the full capacity report here.
- FIF CAT CAIS Working Group. The CAIS Working Group continued its review of open CAIS issues. The Working Group discussed a question from FINRA CAT on whether firms are concerned with 3700 linkage errors (for CAT Transaction Reporting) being included in the same linkage error file with other Transaction Reporting linkage errors. The Working Group discussed CAIS reporting for Mass Transfer scenarios.
Eduard Kotlyar