Working Group Update 10/26/2020

FIF CAT Tech Spec Working Group/CAT Committee: The FIF CAT Tech Spec Working Group and CAT Committee discussed the October 26 and January 4 compliance dates for resolving equities and options interfirm, exchange and TRF linkage validations by 8 am on T+3. The Working Group continued a detailed review of the CAT Phase 2d requirements, including Multi-Leg Order events, Route Modified and Cancelled events, Order Modification and Cancel Request events, responses to RFQs and solicitations, Option Order Internal Route Modified, Cancelled, Modification Request and Cancel Request events, and linkage between an options combined order and the original customer orders. The FIF CAT Committee reviewed various issues raised by FIF Members, including an exchange no longer dropping underscores from the session field, linkage errors resulting from stub quotes, the FINRA CAT plan to add a new destinationType to address foreign OTC equity linkage exceptions, and linkage exceptions for routes from small firms not required to report until Phase 2d. The Committee also reviewed the form for self-reporting deviations of clock synchronization standards.

FIF CAT CAIS Working Group: The FIF CAT CAIS Working Group completed responses to the FINRA CAT questions relating to customer and account information and submitted the responses to FINRA CAT. The CAIS Working Group discussed the questions from FINRA CAT relating to data submission, the error correction process, account transfers, and potential new account and customer type fields presented by FINRA CAT.