FIF - Financial Information Forum

Call with FINRA CAT to request relief relating to IDQS reporting

On May 6, a FIF sub-group participated on a call with FINRA CAT to discuss requested relief for industry members from reporting Quote events that are separately reported by an IDQS. The sub-group also requested interpretive guidance relating to the reporting of the unsolicited indicator for Quote events and the reporting of the unpriced side of a Quote. If you are interested in participating in this discussion, please send a note to fifinfo@fif.com, and we will include you in the sub-group.

POSTED May 10,2021

Sub-group to discuss recent FINRA TRF reporting FAQs that impact ETF NAV trading

FIF Members have identified a challenge with a recent set of FAQs issued by FINRA (100.8; 313.1-313.4) that impact TRF reporting for Net Asset Value (NAV) trades. If the NAV for an ETF is determined in the evening and the TRF report is submitted the following morning with a T+1 trade date, this presents certain challenges for the institutional customer. FIF has created a sub-group to discuss this issue. If you are interested in participating in this discussion, please send a note to fifinfo@fif.com, and we will include you in the sub-group.

POSTED May 10,2021

New Sub-group to Discuss Recent FINRA TRF Reporting FAQs that Impact ETF NAV Trading

FIF members have identified a challenge with the recent set of FAQs issued by FINRA (100.8; 313.1-313.4) that impact TRF reporting for Net Asset Value (NAV) trades. If the NAV for an ETF is determined in the evening and the TRF report is submitted the following morning with a T+1 trade date, this presents certain challenges for the institutional customer.

FIF is creating a sub-group to discuss this issue. If you are interested in participating in this discussion, please send a note to fifinfo@fif.com, and we will include you in the sub-group.

POSTED May 03,2021

Rule 606 Working Group

The next meeting of the FIF Rule 606 Working Group will be held on May 4 at 2 pm (ET). The Working Group will update on a recent discussion with the SEC staff relating to the Rule 606 de minimis exceptions and discuss issues and questions raised by FIF members relating to identification of the account level in an RIA scenario, aggregated customer orders and options look-through.

POSTED May 03,2021

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