09 August, 2021
Working Group Updates
09 August, 2021
- FIF CAT Committee. The FIF CAT Committee discussed OATS retirement, which is scheduled for the end of August. The Committee reviewed CAT Alert 2021-03, which provides guidance on the transition to Phase 2d, including coordinated industry testing. The Committee reviewed the recent CAT Operating Committee and SEC filings relating to the CAT Operating Committee’s Revised Funding Model proposal. The Committee reviewed recent updates to the Phase 2d Reporting Scenarios and Technical Specifications. The Committee reviewed the recently published CAT CAIS CCID Reporting Scenarios. The Committee reviewed key open issues on CAIS.
- FIF CAT Tech Specs Working Group. The CAT Tech Specs Working Group reviewed responses to the FIF survey on reporting of accountHolderType in Allocation events. The Working Group discussed issues and questions from FIF members relating to reporting for a manual internal route followed by an electronic internal route, timestamp precision, bulk cancels, and having one FDID with multiple accountHolderType values. The Working Group reviewed new and updated FAQs relating to the tradingSession field for options orders and reporting for a change in IDQS status as a result of an Automated Process. The Working Group discussed the FINRA CAT August 2, 2021 updates to the Phase 2d Technical Specifications document, including the new LCE (Lifecycle Completion Event) and PBG (Price Based on Greeks) handlingInstruction values, the change to make the reporting of TIDType optional for Phase 2d allocation events, the new Supplement events to facilitate reporting of route cancel and route modification rejections, and the change to validate allocation events based on trade date.
- FIF CAT CAIS Working Group. The CAT CAIS Working Group reviewed and revised a draft presentation relating to CAIS reporting for Authorized Traders. The CAIS Working Group discussed issues and questions from FIF members relating to CAIS reporting by Prime Brokers, a fund reporting scenario, phasing in CAIS data validations, and the reporting of the registeredRepCRD value. The Working Group reviewed draft comments and questions for FINRA CAT relating to foreign customers with multiple tidType and tidValue values and reporting of customerStartDate and customerEndDate values. FIF submitted detailed comments and questions to FINRA CAT on the recently-published Full CAIS Reporting Scenarios and other CAIS issues.
Eduard Kotlyar