At the request of FIF members, FIF has created a subgroup for members to discuss issues relating to T+1 implementation, including the new requirements relating to same-day allocations. If you are interested in participating in this subgroup, please send a note to fifinfo@fif.com.

The recently-adopted SEC rules for security-based swap execution facilities (SBSEFs) require firms to report certain financial and other data with Inline XBRL tagging. If you would like to discuss this requirement with other FIF members or are able to recommend a vendor that offers XBRL tagging for this type of reporting, please send a note to fifinfo@fif.com.

On December 15, FIF submitted a letter to FINRA on CAT billing. In the letter, FIF members request that FINRA publish a Regulatory Notice to allow for industry comment on any proposal by FINRA to pass-through FINRA’s CAT fees to its members.

The Back Office Committee will have its next call on Monday December 18 at 10 am ET to review applicable FICC, DTC, NSCC, SEC, MSRB, OCC, IRS and FINRA updates during the past month. During the call, FIF will review the recent rule changes adopted by FINRA to conform to T+1 and the requirement for same-day allocations. The Working Group will also discuss how members plan to handle the scenario where a customer does not provide allocations by end-of-day.

The Front Office Committee will have its next call on Tuesday December 19 at 11 am ET to review applicable updates and notices from the SEC, FINRA, FINRA CAT and the equity and option exchanges. The spotlight presenter will be Padma Kadiyala, Finance Professor at the Pace University Lubin School of Business, who will discuss and provide a demo of a trading transparency app.