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Firm Designated ID (FDID) is defined in Section 1.1 of the CAT NMS Plan as “(1) a unique and persistent identifier for each trading account designated by Industry Members for purposes of providing data to the Central Repository, provided, however, such identifier may not be the account number for such trading account if the trading account is not a proprietary account; (2) a unique and persistent relationship identifier when an Industry Member does not have an account number available to its order handling and/or execution system at the time of order receipt, provided, however, such identif

As stated in FAQ M1, given the purpose of the Firm Designated ID (“FDID”) under the CAT NMS Plan, a change/replacement in the Firm Designated ID (FDID) value associated with a particular trading account would only be permissible in certain limited circumstances, such as system migration, change of vendors, change in Clearing Firm and change in masking methodology. 

In certain scenarios (e.g., institutional, managed accounts), the trading account structure may not be available when a new order is first received from a client and instead, only an identifier representing the client’s trading relationship is available. In these limited instances, the Industry Member may populate the Firm Designated ID (“FDID”) with an identifier used by the firm to represent the client’s trading relationship with the Industry Member (“Relationship ID”) instead of an account number. 

An example of such an identifier could be as follows:

No. The Plan Participants are not prescribing any specific methodology that must be used to mask or otherwise transform account numbers for the purposes of reporting the Firm Designated ID (FDID) to CAT. Each Industry Member must, however, ensure the methodology used to mask or otherwise transform an account number does not result in a newly created unique identifier or an internal only identifier that can be used to effect a transaction or would not constitute "Customer Account Information" or “Customer Identifying Information” as defined in the CAT NMS Plan.

Consolidated Audit Trail, LLC and FINRA CAT, LLC will host an Industry Testing Checkpoint Call on September 28, 2021.

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.

Starting on September 14, 2021, Consolidated Audit Trail, LLC and FINRA CAT, LLC will host bi-weekly Industry Testing Checkpoint Calls every other Tuesday 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.

On September 22, 2021 at 4:15 p.m. Eastern Time, Consolidated Audit Trail, LLC (CAT LLC) will host an industry webinar on CAT funding models. The presentation material for the webinar is available at CAT Funding Webinar- Presentation. CAT LLC requests that persons who would like to submit questions do so in advance through the following link: [email protected].