26 July, 2021
Working Group Updates
26 July, 2021
- FIF Reg SHO/Short Interest Reporting Working Group. The Working Group continued its discussion of FINRA Regulatory Notice 21-19, “Short Interest Position Reporting Enhancements and Other Changes Related to Short Sale Reporting”. The Working Group started its review of an initial draft of an FIF comment letter on the rule proposal.
- FIF Back Office Committee. On July 22, speakers from the DTCC and the committee co-chairs went over rule notices from the DTCC, OCC, FINRA, SEC and more. Please find the meeting materials here.
- FIF CAT Tech Specs Working Group. The CAT Tech Specs Working Group reviewed new and updated FAQs relating to: Order Effective (MEOE) and Option Order Effective (MOOE) events; Order Cancel events for GTC orders after a symbol has been de-listed; reporting the FDID for Multi-Leg order when the equity and option legs are for different accounts; reporting the eventTimestamp for Option Trade (MOOT) events; and the electronicTimestamp for manual Trade (MEOT) and Option Trade (MOOT) events. The Working Group discussed an update from FINRA Cat relating to Route Modification and Route Cancel Supplement events. The Working Group discussed the reporting of TIDType in Allocation events and reporting accountHolderType as an alternative. The Working Group reviewed new Reporting Scenarios relating to the handling and reporting of options errors.
- FIF CAT CAIS Working Group. The CAT CAIS Working Group completed its review of the recently-issued full CAIS Reporting Scenarios with the review of a scenario for an UGMA/UTMA custodied account. The Working Group discussed CAIS reporting by introducing and clearing firms. The Working Group reviewed and discussed the responses from FINRA CAT to comments and questions previously submitted by FIF members, including responses relating to the expansion of the list of ASCII characters, phasing in the go-live for full CAIS reporting, reporting a Customer’s role, reporting the ACCREDITED customerType, and reporting of TIDType. The Working Group discussed the next steps for FIF on the issue of CAIS reporting for Authorized Traders.
Eduard Kotlyar