Rule 605 Working Group

The Rule 605 Working Group will have its next call on Tuesday February 10 at 11 am ET. The Working Group will continue its discussion of a draft letter to the SEC relating to implementation of the Rule 605 amendments, including reporting for different order types and orders with different characteristics.

POSTED Feb 02,2026

Expansion of TRF Operating Hours

The next call for the TRF/ORF Working Group will be on Tuesday February 10 at 1 pm ET. The Working Group will discuss a draft FIF letter to FINRA relating to the planned expansion of TRF operating hours.

POSTED Feb 02,2026

CAT Transaction Reporting and CAIS Working Groups

FIF has scheduled two joint calls for the CAT Transaction Reporting and CAIS Working Groups for this week. The first call will be on Monday January 26 at 1 pm ET; the second call will be on Wednesday January 28 at 2 pm ET. The Working Groups will discuss the exemption orders granted by the SEC on January 23 relating to rep order linkage, RFQ responses that are not immediately actionable, and port settings. The Working Groups will also continue the discussion of (i) a draft FIF letter in response to the SEC Order approving the removal of PII from CAT, and (ii) a draft FIF comment letter in response to the rule filing by CAT LLC to reduce CAT operating costs.

POSTED Jan 26,2026

Rule 605 Working Group

The Rule 605 Working Group will have its next call on Monday January 26 at 2 pm ET. The Working Group will discuss a draft letter to the SEC relating to implementation of the Rule 605 amendments, including reporting for different order types and orders with different characteristics.

POSTED Jan 26,2026

CAT Transaction Reporting Working Group

FIF has scheduled a call for the CAT Transaction Reporting Working Group for Tuesday January 27 at 10 am ET. The Working Group will continue its discussion of draft updates to FAQ D10 from FINRA CAT on retiring Error Code 2247 (a quantity value of ‘0’ must be reported for notional orders reported with the ‘CASH’ handlingInstructions value).

POSTED Jan 26,2026

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