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- FAQQ50. Is a Global Intermediary Identification Number (“GIIN”) an accepted identifier to generate a foreignTIDType for a foreign legal entity?
No. CAT CAIS does not accept the GIIN for the foreignTIDType because the GIIN does not guarantee uniqueness as an input identifier to generate a foreignTIDType. Industry Members must obtain either a Legal Entity Identifier (‘LEI’) or National Registration or Tax Identifier (‘NATIONALID’) from the customer in order to generate a foreignTIDType for a foreign legal entity.
- FAQQ49. Following the closure of an account and the associated FDID being ended in CAIS, is an Industry Member required to re-activate the FDID in CAIS for non-CAT reportable entries, such as delayed dividend payments?
No. An Industry Member would not be required to re-activate a closed FDID in CAIS for post-account closure residual cash payments.
- FAQB74. Is an Order Cancelled event (“MEOC”) required for Good till Cancelled (“GTC”) orders if an issue symbol is delisted?
If an issue symbol is delisted and is no longer tradable on any market because the associated issue is no longer valid, then no MEOC is required for GTC orders in that symbol, as this scenario would be considered an implicit cancellation. Industry Members choosing to optionally report this activity should be mindful that any errors received as a result of the symbol having been delisted on the Event Date would not be repairable.
- FAQK18. Is an electronicTimestamp required when reporting a manual Trade Event (MEOT) or manual Option Trade Event (MOOT) to CAT?
No. The electronicTimestamp field is not required when reporting manual trade events for options or equities. The timestamp for electronic capture of the trade is provided on the corresponding trade event reported by the TRF or the exchange.
The CAT NMS Plan requires the trade event to be reported with the “time of execution”. Each exchange has different rules governing open outcry trading on the exchange floors. Thus, the eventTimestamp should be the execution time as recognized per the rules of the exchange on which the trade was executed.
- FAQK16. How must Industry Members capture the firmDesignatedID (“FDID” or “Firm Designated ID”) on Multi-Leg events in scenarios where the equity leg and option leg are originated in and/or settled to different accounts of the same customer?
In a scenario where a customer sends a complex order, and that customer has different accounts for the options and equities activity, the Industry Member must capture the FDID on the Multi-Leg New Option Order event (“MLNO”) with the FDID of the account in which the options portion of the multi-leg order is handled.
- FAQB66. When is the Order Effective event/Option Order Effective event (MEOE/MOOE) required to be reported to CAT?
Beginning in Phase 2c (equities) and Phase 2d (options), the Order Effective event/Option Order Effective event (MEOE/MOOE) is required to be reported to CAT when all underlying conditions of an order are met such that the order becomes and remains effective until it is fully executed or cancelled. Examples of orders requiring the MEOE/MOOE event include:
- FAQD29. How should Industry Members populate handling instructions for orders received or originated with instructions to work the order using a trading algorithm?
In Phase 2a, if an order is received or originated with instructions to work the order using a Trading Algorithm as defined in the Industry Member Technical Specifications, a handlingInstructions value of 'ALG' should be populated on the New Order or Order Accepted event submitted to CAT along with any additional relevant handlingInstructions.Topics
Consolidated Audit Trail, LLC and FINRA CAT, LLC will host a monthly Industry Testing Checkpoint Call for CAIS/LTID on Wednesday, July 7, 2021 at 4:15 pm ET.
Please note that FINRA CAT, LLC utilizes Zoom to conduct industry webinars. Please check your firewall to ensure your firm has the ability to view Zoom content. If you are unable to download and run Zoom, please click the “join from your browser” link. This webinar will be recorded. The presentation document and recording will be posted.Audio file
- CAT Alert
This CAT Alert describes how Industry Members must transition from Phase 2c to Phase 2d data submissions and the Coordinated Industry Test Plan for Phase 2d. This CAT Alert also describes how FINRA CAT will provide support during the transition period between Phase 2c and Phase 2d. This CAT Alert also discusses how FINRA CAT, LLC will facilitate six coordinated industry tests with the first test commencing with CAT Trading Day September 10, 2021.