FIF has been featured in an article focusing on the cybersecurity concerns of CAT.  The article was written by S&P Global Market Intelligence.  Read it here

FIF is pleased to announce that Piper Jaffray has joined the Financial Information Forum Community.

On Friday, November 9^th, FIF submitted comments on FINRA’s recent proposal to expand Equity Trading Volume Data published on FINRA’s website.  FIF’s comments focused on the definition of a Single Dealer Platform and the Proposed Rule’s requirements of mandating firms operating a SDP obtain an additional MPID. To review the letter, please click here.

FIF met with the SROs in-person on November 7th to discuss phase 2c representative order linkage reporting requirements to walk through current business practices in order to provide recommendations to allow OMS/EMS systems to capture and report phase 2c CAT reportable information.  Similarily, this Wednesday, FIF will meet with the SROs/ThesysCAT to discuss the remaining challenges related to FDID. 

On Friday, November 2nd, the SEC issued a final rule require additional disclosures by broker-dealers to customers regarding the handling of their orders.  Specfically, the Commission is adding a new disclosure requirement which requires a broker-dealer, upon request of its customer, to provide specific disclosures related to the routing and execution of the customer’s NMS stock orders submitted on a not held basis for the prior six months, subject to two de minimis exceptions and is also is amending the current order routing disclosures that broker-dealers must make publicly available on a quarterly basis to pertain to NMS stock orders submitted on a held basis, and the Commission is making targeted enhancements to these public disclosures.  FIF is forming a working group to assist firms with the implementation of the new disclosure of Order Handling Information rules.