29 October, 2018
Working Group Updates (Week of 10/22)
29 October, 2018
- FIF Manual Events Subgroup - Held an in-person half day meeting with the SROs/ThesysCAT discussing the subgroups recommendations on manual events.
- 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 CAT Working Group - Reviewed Phase 2b Options definitions and scope, reviewed CAT Matching Criteria requirements (routedOrderID/sessionID), ran through an overview of recommendations provided to the SROs/ThesysCAT on scenarios in which an electronic order changes following a manual order event and gave a status update on all subgroups and work streams.
- FIF CAT FDID Subgroup - FIF focused the meeting on the challenges of deriving and communicating FDIDs across multiple providers of account information (i.e. clearing firms/OMSs) and eliciting feedback on the technical and operational challenges of creating and managing FDIDs.
- Riskless Principal/OMS/EMS Subgroup- Focused on drafting materials to be presented to the SROs on phase 2c Representative Order Linkage Reporting Requirements
- OTC Non-ATS Block Trade Reporting - FIF met with the ad hoc subgroup formed to respond to FINRA's recent rule proposal (reg notice 18-28) on the publicaiton of non-ATS block size trades. FIF reviewed the content of the draft comment letter with the subgroup.
- Cybersecurity Working Group - We focused on the NYS DFS NYCRR 500 - NY State Cybersecurity Regulation. We reviewed what needs to be done to comply, important dates, exemption rules and what firms should/should not be doing.
- FIF CAT Industry Testing Subgroup - The CAT NMS Plan/Technical Specifications provide little detail regarding what features will be included in the test environment. Therefore, the industry currently has an excellent opportunity to provide detailed recommendations on the features to be included in the test environment. We will focus on gathering these recommendations over weekly meetings.
Eduard Kotlyar