06 July, 2020
Working Group Updates 7/6/2020
06 July, 2020
- FIF CSDR/EU Buy-In Working Group - FIF began the drafting of a comment letter in response to The European Union's request for ESMA to conduct a review of CSDR. The letter will highlight the questions/issues that industry members need additional guidance on before the CSDR go-live date. The letter is due to ESMA no later than July 10th.
- CAT Options Working Group - FIF began an initial review of the Phase 2d Options Specification, focusing upon the Paired Order ID and the Multi-Leg Event as reflected in section 5.2 of the June 30 Technical Specification. The group also discussed the concept of a new unique order ID on order route modify events.
- FIF CAT-OATS Parallel Reporting Working Group - FIF provided a high-level summary of the June 30th FINRA CAT Q&A Session which covered the June 23 SFTP Outage and provided a resolution of the minQty validation issue. The group also discussed current OATS/CAT reporting issues including orders originated before go-live and the next steps for OATS retirement.
- FIF SEC Rule 606 Working Group - Last week's meeting began with a follow-up discussion on the treatment of IOC Orders. The group also reviewed the scope of an Introducing Broker's 606(a) Reporting Obligations, including orders in NMS Equities sent from Introducing Brokers to Executing Brokers (FAQ 12.02) and orders sent to an Options Consolidator (FAQ 13.01).
- FIF CAT Tech Spec Working Group - FIF discussed order origination prior to CAT Go-Live and anticipated resolution for these events. The group also discussed the recent Plan Processor outage and the availability of a Systems Outage Distribution List. FIF reviewed current issues with Phase 2a Production Go-Live and an initial review of the Phase 2d Specification.
Eduard Kotlyar