31 October, 2022
Working Group Update 10/31/2022
31 October, 2022
- 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 Kaitlyn Meyer of MIAX, who discussed various MIAX market data initiatives.
- FIF CAT Transaction Reporting Working Group. The CAT Transaction Working Group discussed the current exemption for reporting port settings, which is scheduled to expire on July 31, 2024. FIF submitted a letter to the SROs on reporting UAT testing results to CAT.
- FIF CAT CAIS Working Group. The CAIS Working Group discussed the recent updates to CAT Alert 2021-02 on “Standards for Completing the Customer And Account Reporting Disclosure Form”. The Working Group discussed the status of the CAIS exemptive letters submitted by the CAT Operating Committee to the SEC. The Working Group reviewed a draft email to FINRA relating to Full CAIS inquiries. The Working Group discussed draft comments and questions for FINRA CAT on removing duplicate EIN fields in the CAIS portal, reporting for closed accounts, providing metrics for Material Inconsistencies, and the scenario involving multiple CAT Customers reported for an FDID where the Customers have the same EIN and different LEIs. The Working Group discussed a response received from FINRA on Full CAIS-related inquiries. The Working Group discussed inquiries that firms have received from FINRA for FDIDs that had CAT Transaction Reporting activity without a corresponding CAIS submission. The Working Group discussed FAQ Q68 on CAIS reporting for the scenario where a government employee is appointed as guardian or conservator for a minor or incapacitated person.
Eduard Kotlyar