23 January, 2023
Working Group Update 1/23/2023
23 January, 2023
- FIF Rule 605 Working Group. The Rule 605 Working Group discussed the SEC’s recent rule proposal on Disclosure of Order Execution Information.
- SEC Reg NMS rule proposal. The Front Office Committee, the Data and Technology Committee and the Compliance and Surveillance Working Group discussed the recent SEC rule proposal on Minimum Pricing Increments, Access Fees and Transparency of Better Priced Orders.
- SEC Order Competition Rule proposal. The Front Office Committee, the Data and Technology Committee and the Compliance and Surveillance Working Group discussed the SEC’s Order Competition Rule proposal.
- FIF TRACE/Fixed Income Working Group (TRACE reporting). The TRACE/Fixed Income Working Group reviewed and provided comments on a revised draft of a comment letter on FINRA Regulatory Notice 22-26 (“FINRA Requests Comment on Proposed Changes to TRACE Reporting Relating to Delayed Treasury Spot Trades”). The Working Group discussed FINRA Regulatory Notice 22-28, “TRACE Reporting of Foreign Sovereign Debt Securities: FINRA Adopts Amendments to Require Reporting of Transactions in U.S. Dollar-Denominated Foreign Sovereign Debt Securities to TRACE”.
- FIF CAT CAIS Working Group. The CAIS Working Group discussed recent inquiries received by FIF members from FINRA relating to CAIS system rejections for FDIDs that have associated LTIDs. The Working Group discussed the removal of Material Inconsistencies from the CAIS test environment and the upcoming scheduled removal of Material Inconsistencies from the CAIS production environment.
- FIF CAT Transaction Reporting Working Group. The CAT Transaction Reporting Working Group discussed a recent announcement by FINRA CAT that the planned validation of FDIDs reported to the CAT Transaction Reporting system against FDIDs reported to CAIS, which was previously scheduled to go live during January, will be postponed. Members of the Working Group provided an update on a SIFMA call with the SEC relating to CAT Transaction Reporting. The Working Group discussed a draft exemptive request letter by an exchange relating to CAT reporting for verbal activity on an exchange floor.
Eduard Kotlyar