18 March, 2019
Working Group Updates (Week of 3/18)
18 March, 2019
- FIF CAT Working Group - Reviewed the feedback on the SROs proposed error correction enhancements along with the feedback on the current FDID construct in preparation for an in-person deep-dive session with the SROs.
- FIF FINRA Rule 4370 (BCP) Subgroup - FIF reviewed FINRAs request for comment on Rule 4370 and began elicting feedback on 8 questions provided by FINRA.
- FIF CAT Tech Spec Working Group - Continued the review of the CAT tech spec beginning with section 4.4 (Order Accepted Event).
- FIF SEC Rule 606 Working Group - Provided a brief update on recent dialogue with SEC Staff. Continued last meeting's discussion on actionable IOIs. Discussed the considerations firms should be aware (i.e. use of specific FIX tags) of with respect to providing data from a downstream broker to an upstream broker. Discussed expectations of when an order is deemed to be "marketable" under Rule 606, and provisions around adding/removing liquidity.
Eduard Kotlyar