Working Group Updates 9/14/2020

FIF CAT Tech Specs Working Group. The Working Group reviewed new reporting scenarios published by FINRA CAT relating to the “too late to cancel” scenario and error handling for named errors, reviewed the issues addressed by FINRA CAT during the September 8 FINRA CAT Tech Spec Working Group call, reviewed the CAT clock synch survey prepared by FIF, and reported on upcoming FINRA CAT webinars.

FIF CAT CAIS Working Group. The FIF CAT CAIS Working Group held its second call. The Working Group discussed how to report LTIDs for relationship FDIDs, the proposed CAT CAIS procedures for handling material inconsistences, and the attributes that should be validated as part of the material inconsistencies process.

FIF TRACE Working Group. The group held a follow-up call to discuss FINRA's proposed changes to the TRACE reporting rules that were recommended by the Securities and Exchange Commission’s Fixed Income Market Structure Advisory Committee. The proposed changes relate to delayed reporting of Treasury spot trades and the reporting of certain portfolio trades.