21 October, 2019
Working Group Updates 10/21/2019
21 October, 2019
- FIF/SIFMA/STA CAT Options Subgroup - FIF held a joint FIF/STA/SIFMA options subgroup meeting to continue review of understood CAT Multi-Leg Option reporting requirements. The focus of this meeting was to work through industry recommendations pertaining to the definition and scope of Multi-Leg options reporting. FIF also started to solicit feedback on preferred reporting models, which we are currently working into our recommendations that we intend to present to the SROs sometime in Mid-November.
- FIF CAT Tech Spec Working Group - FIF that focused upon review of new/revised Industry Member CAT Reporting Scenarios and newly published FAQs. Specifically, FIF focused on the identification of remaining open questions pertaining to Floor Broker reporting of CAT Transactional Data and expectations around reporting unsolicited exchange cancels.
- FIF SEC Rule 606 Working Group - This meeting was intended to solicit feedback on the current status of Rule 606 implementation challenges as well as to review an updated version of FIF’s Rule 606 Implementation Guide and socialize remaining industry member implementation challenges. Members indicated that current invoices provided by exchanges may be insufficient to allow for the reporting of fee and rebate information required pursuant to 606(b)(1) and 606(b)(3).
- FIF CAT Committee - Kingland reviewed the current status of the proposed CAT LTID Phase III solution and elicited feedback on the proposed design of the first phase on the CAT Customer Account Information Spec. FIF followed with a summary of industry recommendations pertaining to identified challenges with respect to reporting of OTC Quote information to CAT. We concluded this meeting with a review of our comments on the Commission’s proposed Amendments to the CAT NMS Plan.
Eduard Kotlyar