01 April, 2019
Working Group Updates (Week of 4/1)
01 April, 2019
- FIF FINRA Rule 4370 BCP Working Group - Held our final meeting on rule 4370 in order to elict any last minute recommendations/redactions to the comment letter.
- FIF CAT Representative Orders Subgroup - FIF reviewed last week's discussion/talking points, polled members asking rather than require CAT Reporters flag representative orders during phase 2a, would a flag that identifies an order as “eligible for customer order allocation/fulfillment” (the SROs will make clear that this flag has nothing to do with subaccount allocations) be workable? Alternatively, is there a proposed solution that would at least identify prop flow that is eligible to be allocated to customer orders v. prop activity that would never be allocated to a customer order?, and proposed a re-definition of Rep Order.
- FIF SEC Rule 606 Working Group - Reviewed the data/examples that working group members previously provided, global order routing scenerios, a typical scenerio of a routed order with 606(b)(3) reporting obligations and reviewed a typical order routing workflow sample outputs.
- FIF Front Office Committee Meeting - Focused on order management and trading system issues resulting from proposed rule changes (SEC, FINRA, SROs) and other initiatives impacting exchange traded equities and options, and OTC transactions. Find this month's agenda here.
- FIF Data & Technology Committee Meeting - This month's spotlight topic was presented by Mike Collazo from SIAC and Steve Dickey from OPRA who provided updates on the new OPRA Trade Codes and testing opportunities with SIAC. We followed this presentation with a review of the FIF Market Data Capacity Reports, a summary of exchange and SIP technical notices and updates, and a review of recent or upcoming regulations that impact market data. Find the meeting materials here and the full capacity report here.
- FIF Back Office Committee Meeting - Provided guidance and insight on implementation issues relating to exchange, utility, and industry initiatives as well as regulatory changes affecting securities processing and reporting. 3/26 Agenda
Eduard Kotlyar