08 June, 2020
Working Group Updates 6/8/2020
08 June, 2020
- FIF CSDR/EU Buy-In Working Group - FIF was joined by representatives from the DTCC and ICMA who provided members with CSDR interpretative and implementation guidance. Specifically, the ICMA and DTCC focused on ACATS/Conversions, Buy-In Penalities, Pass-Throughs etc... FIF will be holding a follow-up meeeting with ICMA and DTCC Representatives in a couple of weeks to cover remaining questions and issues.
- FIF CAT-OATS Parallel Reporting Working Group - The group reviewed the first iteration of the CAT/OATS Primer which covered topics such as order origination, trading day, and industry member identifiers. FIF also discussed the SROs materials covering Order Effective Time and Customer Requested Modifications and Cancels.
- FIF SEC Rule 606 Working Group - FIF and industry members discussed industry experiences following 606(a) go-live. Specifically, the working group discussed several issues including application of Material Aspects Disclosures, Venue Reporting, and Fees and Rebates. FIF will be holding a follow-up meeting on Wednesday, June 10 @ 2:00pm.
- FIF/SIMFA/STA CAT Options Working Group - FIF's first meeting focused on the next steps for Phase 2d Options including linkage issues, multi-leg orders, paired orders, auctions, and floor broker scenarios. The group also began the development of electronic/manual dupe and paired order business scenarios. The second meeting focused on the linkage issues and data gaps in Phase 2d.
- FIF CAT Committee - FIF discussed the FINRA Proposed new event for Order Effective Time Event (MEOE) and the potential to give firms optionality between the MEOE, leveraging the MEOM, or other choices. FIF also gave a high-level review of the proposed 2d Order Route Modify/Order Route Cancel Events.
Eduard Kotlyar