13 September, 2021
Working Group Updates
13 September, 2021
- FIF CAT Committee. The CAT Committee reviewed upcoming key dates for CAT, including testing and go-live for Phase 2d. The Committee reviewed FINRA CAT Alert 2021-03 relating to the transition to Phase 2d. The Committee highlighted the FINRA CAT business clock synchronization survey. The Committee reviewed the current issues of focus for CAT transaction reporting. The Committee reviewed the most recent set of updates to the Full CAIS Technical Specifications. The Committee reviewed the current issues of focus for CAT CAIS.
- FIF CAT Tech Specs Working Group. The CAT Tech Specs Working Group discussed CAT testing for the NYSE Pillar migration. The Working Group reviewed recent FAQ updates relating to receipt of order modification and cancellation requests, rejected routes, allocation to an RIA’s average price account, the eventTimestamp for Allocation events, CMTAs, amended Allocation events, and bookings to the average price account of an Introducing Broker. The Working Group discussed draft comments and questions for FINRA CAT relating to: Sponsored Access, Direct Market Access, the DIR handlingInstruction and FAQ D37; reporting of route rejections; the definition of Multi-Leg Order; and reporting for RFQs.
- FIF CAT CAIS Working Group. The Working Group discussed reporting the tidType of SSN for Legal Entity CAT Customers. The Working Group discussed the ADVISED, AVERAGE and BROKERAGE accountType values. The Working Group reviewed draft comments and questions for FINRA CAT relating to reporting a tidType of SSN for Legal Entity CAT Customers and reporting the accountType values of ADVISED and BROKERAGE. The Working Group discussed the various customerType values, including ADVISER, CP, EMPLOYEE, FOREIGN and OTHBKR.
- Reg SHO/Short Interest Reporting Working Group. The Reg SHO/Short Interest Reporting Working Group reviewed the draft FIF comment letter on FINRA Regulatory Notice 21-19, “FINRA Requests Comment on Short Interest Position Reporting Enhancements and Other Changes Related to Short Sale Reporting”.
Eduard Kotlyar