03 May, 2021
Working Group Update 5/3/2021
03 May, 2021
- FIF Tech Specs Working Group. The CAT Tech Specs Working Group reviewed the schedule of availability of the Production, Prod-Mirror and Industry Test environments. The Working Group discussed whether the solicitationFlag applies for IOIs that are not part of an RFQ process. The Working Group reviewed updated FAQs relating to FDID reporting. The Working Group discussed Reporting Scenario 4.1.2 relating to customer accommodations. The Working Group reviewed the planned updates to the Industry Member Technical Specifications for Phase 2c and Phase 2d. The Working Group discussed various Phase 2c implementation issues. The Working Group reviewed various issues highlighted by FINRA CAT to be addressed in a May 10 release. The Working Group reviewed a draft letter to the CAT Operating Committee relating to the Revised Funding Model. The Working Group discussed various customer accommodation scenarios. FIF submitted to FINRA CAT comments and questions raised by FIF members relating to CAT transaction reporting.
- FIF CAT CAIS Working Group. The CAT CAIS Working Group discussed CAT Alert 2021-02, Standards for Completing the Customer and Account Reporting Disclosure Form. The Working Group continued its discussion of the reporting of FDID changes when an account title changes. The Working Group discussed an issue with invalid LTIDs retrieved from the ALERT system. The Working Group reviewed the updates to the CAIS LTID Phase Technical Specifications. The Working Group continued its review of the response to the Plan Participants on Authorized Traders. The Working Group reviewed the digest of CAIS comments and questions proposed to be submitted to FINRA CAT. The Working Group reviewed draft changes to the Full CAIS Reporting Technical Specifications.
- Reg SHO Working Group. The Working Group discussed specific Reg SHO issues and questions raised by FIF members relating to order marking and locate requirements.
- Front Office Committee. On April 27 Ari Burstein of Capital Market Strategies discussed the CAT Operating Committee’s revised funding proposal. Please find this month's agenda here.
- Data and Tech Committee. On April 28th the Committee co-chairs led a discussion on the peaks seen in Bitcoin Options and Futures in March, the discussion also focused on the trading platforms themselves and the new SEC Chairman's stance on crypto. Please find the meeting materials here and the full capacity statistics deck here.
- Tax Information Reporting Working Group. On April 29 Stevie Conlon and colleagues at Wolters Kluwer presented Part 2 of their Spotlight on Virtual Currency.
Eduard Kotlyar