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This FAQ has been retired. Please refer to FAQ B58.

In Phase 2a, firm modifications of a previously routed order are not required to be reported to CAT if the destination to which the order was routed is a CAT Reporter. As a result, in the given example, the modification of the 2,000 share order sent to Exchange A would not be reportable by BD A, but would be reported to CAT by Exchange A. If the order had been routed to a foreign destination or other destination that is not a CAT Reporter, BD A would be required to report the modification to CAT.

This FAQ has been retired. Please refer to FAQ B57.

CAT Alert 2018-003 has been retired. The information contained in this CAT Alert can now be found in section 2.4.1 the Industry Member Technical Specifications. 

CAT Alert 2018-004 has been retired. The information contained in this CAT Alert can now be found in the Order Routing Field Mapping between CAT and Exchanges document. 

The exchOriginCode field is a required text field on the CAT Options Order Route Event (“MOOR” event) and CAT will reject the record if the field is not populated. In instances where the market maker sends a market maker order through an options exchange protocol that does not require an exchange origin code, Industry Members must populate the exchOriginCode with “MM.”

A. Yes. In CAT, routing instructions must be reported by the routing firm in Phase 2c. If the routing instructions are the same as the instructions received by the firm, then the firm may populate the handlingInstructions field with the value “RAR” (Routed as Received).
 

The only exception to this requirement is the “OPT” handling instruction, which must be populated on Order Route events representing the equity leg of a complex option with a net price beginning in Phase 2a. Refer to FAQ B12 for additional information.

If the Industry Member routes an order to another Industry Member or a Participant, the Industry Member must report the routing of the order to the CAT. The details that must be reported for the routing of an order are set forth in Section 6.3(d)(ii) of the CAT NMS Plan, as applied to Industry Members by Section 6.4(d)(i) of the CAT NMS Plan.