27 July, 2020
Working Group Updates 7/27/2020
27 July, 2020
- FIF SEC Rule 606 Working Group - FIF announced the new Rule 606 Working Group Co-Chairs and reviewed the scenarios and follow-up questions to be presented to SEC T&M Staff, including the application of FAQ 12.02 (scope of Rule 606(a) obligations of executing brokers without customer order flow). FIF also reviewed a SEC Clarification which calls for Industry Members to add the rows for Market, Marketable Limit, Non-Marketable Limit, and Other Orders vetically to derive percentages, as mentioned in the rule text and the old FAQs. The group also discussed the percentage of orders - denominator and SEC's request for detail on IOC Orders.
- FIF Front Office Committee - Please find this month's Front Office agenda here;
- FIF CAT-OATS Parrallel Reporting Working Group - The group reviewed the recently published Allocations-focused FAQs and the implications of continued Plan Processor delays in SLAs. Additionally, the group discussed CAIS/LTID Reporting including the potential request to allow full daily submission during the LTID Phase and a high-level summary of the CAIS Reporting Technical Specification.
- FIF CAT Tech Spec Working Group - FIF solicited industry issues in response to Phase 2b Options Go-Live. The group also discussed the CAIS Reporting Technical Specification and the potential request to allow full daily submission during the LTID Phase. Additionally, FIF led the discussion on near-term CAIS action items followed by a solicitation of Industry Member questions and challenges. FIF also plans to form a FIF CAIS Working Group in the coming months.
Eduard Kotlyar