21 June, 2021
Working Group Update 6/21/2021
21 June, 2021
- FIF Back Office Committee. On June 15, Bill Kapogiannis and Diana Confessori-Simmons of DTCC discussed the DTCC data warehousing initiative. Please find the full agenda here.
- FIF CAT Tech Specs Working Group. The CAT Tech Specs Working Group reviewed the request filed by the Plan Participants with the SEC to move the reporting of unique Order IDs on internal route events from Phase 2d to August 1, 2023. The Working Group discussed responses provided by FINRA CAT to FIF and the FIF Co-Chairs relating to Order Route Cancel and Modification Supplement events, reporting Route Modification events to CAT when the only CAT-reportable field that changes is the routedOrderID, reporting the pairedOrderID for the manual route of options order to a floor broker, and reporting two-sided responses to an options RFQ request. The Working Group reviewed draft comments and questions from FIF members relating to DAY orders that can be executed in foreign venues on T+2, an IDQS reporting scenario relating to MAX trade orders, the reporting of leavesQty on Route Modify and Route Cancel events, and error feedback for Multi-Leg orders. FIF submitted these comments and questions to FINRA CAT. The Working Group discussed issues and questions from FIF members relating to non-RFQ solicitations, reporting for Automated Investment Plans, the OFF handlingInstruction, allocation reporting for options cross-entity allocations, and the foreign allocationTypes introduced for Phase 2c.
- FIF CAT CAIS Working Group. The CAT CAIS Working Group discussed the plan to request an extension of the Phase 2d requirement to report tidType in Allocation events. The Working Group reviewed guidance provided by FINRA CAT relating to the following CAIS issues previously submitted by FIF: reporting when an account changes from an individual to a joint account; reporting addresses at the FDID vs. Customer level; reporting when a firm has more than four addresses for an FDID or a Customer; reporting when a Customer has an EIN and an SSN; reporting proprietary inventory accounts; acquired accounts with ULTIDs; reporting LTIDs for Relationship/parent FDIDs; reporting the Customer role for Relationship FDIDs; reporting new FDIDs when all CAIS information has not yet been received; and reporting accounts that are re-activated.
Eduard Kotlyar