Working Group Updates 12/23/19

FIF TRACE Working Group -  FIF gathered additional feedback pertaining to potential issues and challenges identifed pursuant to FINRA Reg Notice 19-25 (FINRA Proposal that U.S. Dollar Denominated Foreign Sovereign Debt be incorporated into TRACE Reporting). The group specifically focused on the execution time of trades settled overseas and setting up securities with FINRA to create symbols.  FIF will hold a follow-up working group meeting to discuss feedback provided by FINRA last week's meeting that focused in-part on Reg Notice 19-25.

FIF Front Office Committee - Please find this month's front office agenda here. 

FIF CAT Committee - FIF reviewed potential challenges with the CAT IM Limited Testing Acknowledgement Form. FIF also gave a high-level overview of the Customer and Account Information (CAIS) Tech Spec and reviewed the draft materials of our Phase 2c CAT Tech Spec feedback focused on the challenges with reporting allocations and cancel request events. 

FIF SEC Rule 606 Working Group - The group discussed the recently published 606(a) and 606(b) reports on the SEC's Taxonomies website as well as issues that members have spotted with the samples.  FIF is following up with the SEC to inform them of the identified anomolies.  The group also discussed the pass back of exchange fees to the introducing broker in 606(b)(3) reports with respect to the January 1st go-live date. 

FIF CAT Tech Spec Working Group - FIF reviewed a draft of the first round of Phase 2c feedback focusing on issues surrounding rejection events and allocation reporting. FIF distributed materials earlier this morning and will take feedback until 4:00pm today, after which time the materials will be disseminated to the regulators.   FIF also provided a brief review of the CAIS Tech Spec with the intent of beginning the socialization process of expected CAIS requirements.