01 June, 2020
Working Group Update 6/1/2020
01 June, 2020
- FIF Front Office Committee - Please find this month's Front Office Committee agenda here;
- FIF Order Routing Transparency Working Group - The group reviewed the draft Comment Letter Requesting that the Commission publish a Concept Release based upon the FIF Rule 605 Modernization Recommendations, including review of the intended scope of the content. The group also worked through EQ-based enhancement recommendations.
- FIF Data & Technology Committee - The meeting featured a spotlight topic by CME's Chief Economist, Blu Putnam, on Gauging the Evolution of Market Sentiment in these Volatile Times. Please find the the meeting materials here and the full capacity report here.
- FIF/SIMFA/STA CAT Options Working Group - FIF gave a summary of the May 28 deep dive on CAT Paired Orders/Phase 2d Options with FINRA CAT, diving deeper into the three possible reporting solutions FINRA CAT outlined for paired options. The group's next steps include working through the different iterations as to how exchanges accept paired orders and the potential need for a handling instruction to identify an auction for paired and multi-leg options orders. The group will also transition to electronic dupe scenarios.
- FIF Cybersecurity Working Group - FIF reviewed the FINRA Webinar on how to protect yourself and your firm from cyberattacks as a follow-up from the last meeting's FBI advice. The group also reviewed key points from the 180-page report created by the US Cyberspace Solarium Commission.
- FIF CAT Committee - FIF gave a summary of the May 28 deep dive on CAT Paired Orders/Phase 2d Options with FINRA CAT as well as reviewed the three options FINRA CAT gave for reporting paired options. The group also reviewed default handling instructions at exchanges and potential reporting issues associated with these default instructions. FIF also reignited discussions around potential solutions for Order Effective Time (OET).
Eduard Kotlyar