28 March, 2022
Working Group Update 3/28/2022
28 March, 2022
- FIF Front Office Committee. The FIF Front Office Committee reviewed applicable updates and notices from the SEC, FINRA, FINRA CAT and the equity and option exchanges. The spotlight presenter for the meeting was Tim Sargent of CalcGuard, who discussed global trade data aggregation. Find the March Agenda here.
- FIF CAT Transaction Reporting Working Group. The CAT Transaction Reporting Working Group reviewed draft comments and questions for FINRA CAT relating to the OPT handlingInstructions value, FAQ B24 (ALO, OPO and STP handlingInstructions), FAQ D27 (reporting for DMA and Sponsored Access scenarios), and submitting corrections and unreported events for dates prior to Phase 2d. FIF submitted these comments and questions to FINRA CAT. The Working Group continued its discussion of linkage of representative orders to customer orders, including integrated OMS/EMS, disconnected OMS/EMS, Manning and guaranteed price scenarios.
- FIF CAT CAIS Working Group. The CAIS Working Group discussed requests for feedback from FINRA CAT relating to validation for foreign identifiers and the scenarios where a firm would require a full data replacement. The Working Group discussed proposed clarifications to Reporting Scenarios 4.2.4 (DVP/RVP Account with a Clearing Number) and 4.2.5 (DVP/RVP Account with Bank Depository ID). The Working Group discussed issues and questions from FIF members relating to minors outside the US that do not have a valid CAIS identifier, CAIS reporting for abandoned and escheated accounts, restricting accounts on July 11, 2022, a recent CAIS error for missing or invalid EIN, and the reporting of roleStartDate.
Eduard Kotlyar