What is the T+3 error correction timeframe based on (e.g., submission date, original error date, etc.)? Example: if an order event is submitted on T and is rejected on that day, then corrected on T+1 but the correction on T+1 fails, is the event on T considered "corrected" or does the T+1 rejection need to be addressed and, if so, when?
Pursuant to the Participants’ CAT compliance rules and the CAT NMS Plan, all error corrections must be made by 8 am on T+3, where T is the Trading Day of the Reportable Event, otherwise they will be marked as late. In the example, all rejections, including the second rejection on T+1 and any subsequent rejections, must be corrected and submitted by 8 am on T+3. Industry Members must correct all errors regardless of when they occur.