Working Group Updates 10/5/2020

FIF CAT Tech Spec Working Group/CAT Committee: The Working Group and Committee discussed a recent notification from FINRA CAT removing the Phase 2d requirement to provide a new unique orderID on CAT Order Modification and Order Adjustment events, reviewed various questions to be submitted to FINRA CAT by FIF, reviewed the FINRA CAT TRF linkage webinar, discussed various TRF linkage issues, provided an update on a draft letter being prepared by FIF identifying challenges with the October 26 linkage compliance date, and reviewed recent FAQ updates relating to trades in a foreign currency and allocations.

FIF CAT CAIS Working Group: The FIF CAT CAIS Working Group reviewed new FINRA CAT FAQs Q32-Q37 relating to CAIS, discussed the requirement to report ULTIDs in numeric format, discussed how SROs will make regulatory inquiries based on CAIS data, discussed confidentiality restrictions on a clearing firm providing LTID information to an introducing firm, reviewed questions from the FINRA CAT framing call, and discussed challenges with reporting specific account and customer data elements required by CAIS and proposed feedback to FINRA CAT.

FIF Data & Technology Committee: The group was treated to a spotlight topic from MIAX discussing the launch of the new MIAX Pearl Equities Exchange. Following the presentation, we went over the monthly market data capacity stats. Please find the meeting materials here and the full capacity statistics deck here.