20 September, 2021
Working Group Updates
20 September, 2021
- FIF CAT Tech Specs Working Group. The CAT Tech Specs Working Group reviewed the Phase 2d change relating to symbol validation in Allocation events. The Working Group discussed issues and questions from FIF members relating to file format, the limitation on file size, the reporting of MEOMR events, the removal of the J3 and SR handlingInstructions, using Order Modification events for the cancel of the remaining shares of an order, the reporting of representative orders, and scenarios where one side is manual and the other side is electronic. The Working Group continued its discussion of directed orders. The Working Group discussed FAQ J4, which requires the reporting of New Quote events for quotes originated prior to Phase 2d. The Working Group discussed an extension of the current exemptive relief relating to linkage for OMS/EMS workflows. The Working Group continued its discussion of representative orders.
- FIF CAT CAIS Working Group. The CAT CAIS Working Group discussed draft comments and questions for FINRA CAT relating to the following customerType values: ADVISER; CP; EMPLOYEE; FOREIGN; and OTHBKR. The Working Group completed its review of customerType values. The Working Group discussed the request from FINRA CAT for additional information relating to FIF’s request for a new tidType to indicate that an SSN has been “applied for”. The Working Group was updated on the upcoming call with regulators relating to CAIS reporting for authorized traders. The Working Group discussed various “mass transfer” scenarios and various firm processes for validating SSNs and the associated CAIS reporting. FIF submitted comments to FINRA CAT relating to customerType values.
- FIF Rule 605 Working Group. The Rule 605 Working Group discussed potential recommendations to the SEC relating to Rule 605 reporting for options.
Eduard Kotlyar