20 July, 2020
Working Group Updates 7/20/2020
20 July, 2020
- FIF Back Office Committee - Please find this month's Back Office Committee agenda here;
- FIF CAT-OATs Parallel Reporting Working Group - FIF reviewed the earlier FINRA TSWG discussion on the Phase 2d requirement mandating Unique Order IDs upon all Order Modify Events, incorporating FINRA CAT's description of the rationale. The group discussed potential industry solutions and potential consequences from this requirement. FIF also reviewed rejection and corrections of TRF reports and asked for feedback regarding the Amendments to SRO Rulebooks incorporating CAT Rules.
- FIF CAT Committee - The group continued the discussion on the Phase 2d Spec Requirement for Unique OrderIDs and reviewed the understood expectations TRF corrections and amendments. FIF also addressed implications of continued Plan Processor delays in SLAs and the potential request to allow full daily submission during the LTID Phase of CAIS. The group covered intrafirm linkage production go-live as well as interfirm linkage testing.
- FIF SEC Rule 606 Working Group - FIF reviewed the discussions from the July 15 Meeting with Trading & Markets Staff which covered the SEC answers for 606(a) fee/rebate designation, general 606 fees, and 606(a) deriving the percentage of non-directed orders. FIF also covered the amended PDF template and IOC designation.
Eduard Kotlyar