Back Office Committee. The FIF Back Office Committee met to review applicable FICC, DTC, NSCC, SEC, MSRB, OCC, IRS and FINRA updates during the past month. Find this month's agenda here.  FIF Rule 606 Working Group. The Rule 606 Working Group continued its discussion of FINRA Regulatory Notice 21-35, “FINRA Requests Comment on Proposed Order Routing Disclosure Requirements for OTC Equity Securities and Potential Steps to Facilitate Investor Access to Current Order Routing Disclosures for NMS Securities.” FIF CAT Tech Specs Working Group. The CAT Tech Specs Working Group discussed...

FIF Rule 606 Working Group. The Rule 606 Working Group continued its discussion of FINRA Regulatory Notice 21-35, “FINRA Requests Comment on Proposed Order Routing Disclosure Requirements for OTC Equity Securities and Potential Steps to Facilitate Investor Access to Current Order Routing Disclosures for NMS Securities.” FIF CAT Committee. The CAT Committee reviewed guidance and updates from the SROs on CAT transaction reporting and CAT CAIS reporting during the prior month. The CAT Committee reviewed the current areas of focus for FIF members and the current open issues for CAT...

FIF Rule 606 Working Group. The Rule 606 Working Group discussed FINRA Regulatory Notice 21-35, “FINRA Requests Comment on Proposed Order Routing Disclosure Requirements for OTC Equity Securities and Potential Steps to Facilitate Investor Access to Current Order Routing Disclosures for NMS Securities.” FIF Front Office Committee. The FIF Front Office Committee reviewed applicable updates and notices from the SEC, FINRA, FINRA CAT and the equity and option exchanges. Please find this month's agenda here.  FIF Data and Technology Committee. Grant Leinberger from Exegy gave a...

FIF Rule 606 Working Group. The Rule 606 Working Group discussed FINRA Regulatory Notice 21-35, “FINRA Requests Comment on Proposed Order Routing Disclosure Requirements for OTC Equity Securities and Potential Steps to Facilitate Investor Access to Current Order Routing Disclosures for NMS Securities.” Back Office Committee. The FIF Back Office Committee reviewed applicable FICC, DTC, NSCC, SEC, MSRB, OCC, IRS and FINRA updates during the past month. Firm Processes for Validating SSNs and other identifiers. In response to an FIF member request, FIF held a call this past week focused on...

FIF Rule 606 Working Group. The Rule 606 Working Group discussed questions from FIF members relating to reporting for Multi-Leg orders and reporting by an introducing broker that routes all orders to its clearing firm. The Working Group reviewed a draft request for exemptive relief relating to options look-through to be submitted by FIF to the SEC. FIF submitted this request to the SEC. The Working Group commenced its discussion of FINRA Regulatory Notice 21-35, “FINRA Requests Comment on Proposed Order Routing Disclosure Requirements for OTC Equity Securities and Potential Steps to...

FIF CAT Committee. The CAT Committee reviewed guidance and updates from the SROs on CAT transaction reporting and CAT CAIS reporting during the prior month. The CAT Committee reviewed the current areas of focus for FIF members and the current open issues for CAT transaction reporting and CAT CAIS reporting. FIF CAT Tech Specs Working Group. The CAT Tech Specs Working Group reviewed the most recent updates to the Phase 2d Reporting Scenarios. The Working Group discussed the recent CAT Costs and CAT Funding webinars. The Working Group discussed various issues and questions from FIF members...

FIF Data and Technology Committee. On the September 29, 2021, Data and Technology Committee call, Cboe's Angelo Evangelou discussed the recent paper by Cboe titled “Cboe Advocates for Targeted Equity Market Structure Reform”. The Committee also reviewed capacity, latency and volume data for the prior month for the equity, options, currency, crypto and futures markets. Please find this month’s meeting materials here and the capacity statistics deck here. FIF Front Office Committee. On September 28, 2021, the Front Office Committee reviewed applicable updates and...

FIF Short Sales/Reg SHO/Short Interest Reporting. The FIF Short Sales/Reg SHO/Short Interest Reporting Working Group reviewed and made final edits to the draft FIF comment letter on FINRA Regulatory Notice 21-19, “FINRA Requests Comment on Short Interest Position Reporting Enhancements and Other Changes Related to Short Sale Reporting”. FIF will submit this comment letter on September 29, 2021. The Working Group also discussed draft requests for interpretive guidance relating to Short Interest Reporting for error scenarios. The Working Group also discussed Reg SHO compliance when firms...

FIF CAT Tech Specs Working Group. The CAT Tech Specs Working Group reviewed the Phase 2d change relating to symbol validation in Allocation events. The Working Group discussed issues and questions from FIF members relating to file format, the limitation on file size, the reporting of MEOMR events, the removal of the J3 and SR handlingInstructions, using Order Modification events for the cancel of the remaining shares of an order, the reporting of representative orders, and scenarios where one side is manual and the other side is electronic. The Working Group continued its discussion of...