Working Group Updates 9/21/2020
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FIF CAT Tech Spec Working Group/CAT Committee: The Working Group and Committee discussed exchange and TRF linkage issues, reported on the Exchange Route Matching Industry Webinar hosted by FINRA CAT, discussed various allocation issues raised by FIF members, and reviewed FINRA CAT’s change to remove leading zeros and spaces from the routedOrderID and session fields for linkage purposes only.
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FIF CAT CAIS Working Group: The FIF CAT CAIS Working Group held its third call. The Working Group reviewed recent FAQs and Technical Specification updates published by FINRA CAT and discussed various issues relating to the full CAIS reporting phase, including identifiers for non-US customers and the challenges involved with identifying and reporting power of attorney and other account roles and sub-roles.
- FIF SEC Rule 606 Working Group: The Working Group reviewed a draft letter to the SEC relating to the PDF renderer, recent guidance from the SEC relating to the reporting of orders designated as “not held” by a customer, discussed the reporting of DMA orders, discussed look-through issues relating to Rule 606(a) reporting, and discussed the reporting of fees when an execution occurs beyond two levels of routing.
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FIF TRACE Working Group: The Working Group held a follow-up call to review the most recent changes to the FIF comment letter in response to FINRA Regulatory Notice 20-24 and to incorporate all final edits.