On March 31 FIF submitted comment letters on the following three SEC equity market rule proposals:

• Disclosure of Order Execution Information
• Order Competition Rule
• Regulation NMS: Minimum Pricing Increments, Access Fees and Transparency of Better Priced Orders.

FIF would like to thank the members of the FIF Rule 605 Working Group for their contributions in the drafting of the comment letter on the SEC’s rule proposal on Disclosure of Order Execution Information. FIF would like to than the members of the FIF SEC Equity Market Proposals Working Group for their contributions in the drafting of the comment letters on the SEC’s Order Competition Rule proposal and the SEC’s rule proposal on Regulation NMS: Minimum Pricing Increments, Access Fees and Transparency of Better Priced Orders.

On March 30, FIF submitted a response letter to the SEC on the FINRA rule proposal on disclosure of order routing information for OTC equity securities and NMS securities.

FIF has scheduled an additional call this week for the FIF CAT Transaction Reporting Working Group. The call will be on Tuesday April 4 at ____ ET and will focus on CAT reporting for RFQ responses.

FIF has scheduled the next call for the Rule 606 Working Group for Tuesday April 4 at 3 pm ET. The Working Group will discuss the expected response by FINRA to the SEC order seeking further comment on the FINRA rule proposal on disclosure of order routing information for OTC equity securities and NMS securities. The Working Group also will discuss questions from FIF members relating to Rule 606 reporting.

For the CAT Transaction Reporting Working Group call for this week (on Wednesday April 5 at 2 pm ET), the CAT Plan Participants will present to the Working Group on the potential cost savings for turning off linkage in the CAT production mirror environment.