14 December, 2020
Working Group Update 12/14/2020
14 December, 2020
- FIF CAT Tech Specs Working Group. The CAT Tech Specs Working Group reviewed the updates to the Technical Specifications published by FINRA CAT on December 4th, including updates relating to verbal quotes, modifications and cancels, TRF linkage, RFQs, routedOrderID for route modifications, tne new requestTimestamp fields, orderID reporting for modifications, New Quote and Quote Received events, Order Effective events, manual event fields for Multi-Leg events, new Multi-Leg events, and new TTF, TTO and TTS handlingInstructions. The Working Group reviewed new FAQ B68 relating to the reporting of accountHolderType for principal accounts that include market making and other principal trading activity. The Working Group discussed CAT reporting requirements relating to TRF amendments.
- FIF CAT CAIS Working Group. The CAT CAIS Working Group reviewed the updated CAT Reporting Customer and Account Technical Specifications for Industry Members published by FINRA CAT, including changes relating to foreign identifiers, material inconsistency validations, account transfers, account and customer types, address records, removal of sub roles, large trader lists associated to FDIDs and country and region codes. The Working Group discussed formatting for ULTIDs and operational challenges with reporting LTIDs for relationship FDIDs.
- FIF Back Office Committee. The Back Office Committee was treated to a spotlight topic from John Abel of DTCC, who went over DTCC's Project ION. Please find the rest of the back office agenda here.
- FIF Rule 606 Working Group. The Rule 606 Working Group held a call that focused on the Rule 606 exclusion for orders from foreign brokers, providing downstream events for directed held routes on the interchange report, reporting for not held option orders, and reporting institutional IOC orders as not held.
Eduard Kotlyar